SFM: Ep29: Expanding Your Bottlenecks For Rapid Growth

When you strengthen the weakest link in a fence, you strengthen the entire fence. This statement is also very much true when you’re running a business. If you take a good hard look you’ll find several bottlenecks which are preventing you from growing. If you open up and expand those bottlenecks, you allow more revenue to flow into the entire business. This episode goes over a quick discussion of bottlenecks and how to begin looking for them in your business.Check it out, share it and let me know what you think!

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Transcript

Hey everyone, welcome back to another episode of the Sales Funnel Mastery podcast. This is your host Jeremy Reeves. And today is Monday, May 11th, and we just had Mother’s Day, if there’s any moms out there, happy Mother’s Day, if there’s any dads out there, hopefully you had a great time – spoiled you’re probably wife and your own mother and any mother should know.

I’m coming off this weekend, nice and early this morning and so I’m in a good mood. Anyway, what we’re going to talk about, I was just thinking, I was just doing kind of a prep work for the week and I was just, for some reason, it came in my head, topic of bottlenecks. This is something that I’ve dealt with because I have a service business. So this has been my big challenge for my own service business. Finding bottlenecks and figuring out how to essentially expand those bottlenecks so they aren’t bottlenecks anymore.

So mine, of course, has been the ability to produce the work for clients. There are a bunch of different bottlenecks that you can have depending on your business. If you’re a service business, it’s probably either going to be getting the clients or your capacity to service those clients and that’s my bottleneck which for me my big thing with that is that number one, I have my information products so that’s a way to expand a bottleneck a little bit and generate more revenue without doing extra work.

And then the other thing is I’m doing a lot more coaching this year, so that helps to kind of open up that bottleneck a little bit. But it’s going to be different for your business and it’s something that you want to think about for another person. You have to look and maybe our capacity is okay, maybe you have several employees that can handle what does service or maybe it’s an easy service and it’s kind of hand-off or whatever but you don’t have the marketing capacity to get the clients in the door.

Maybe you have an information product or software or something like that and you can essentially handle unlimited capacity but you don’t have enough people coming in the door so in that case, is it a conversion problem or is it a traffic problem? And usually it’s a conversion problem and that’s something most people don’t understand it’s like “Oh, I can’t get enough traffic”, and really, the answer is know your conversions aren’t high enough because when you’re conversions are high enough, you can get all the traffic that you want.

You can go and use YouTube ads, you can use Twitter, Facebook, Google, Joint Ventures, radio, TV, anything because you have that conversion process in place so that you can go out and say “hey, you know, I know my average customer client is worth X dollars, I can spend up to x dollars to acquire that customer client and basically anybody’s going to give you traffic as long as you hit those numbers if those numbers are high enough.

So episode today, it’s really just to get you to start thinking about where your bottlenecks are in your business because it’s kind of like the weakest link in the fence, the weakest chain. That’s what’s going to break first. Let’s just say for example, you’re in the service business, your capacity for handling clients is low and you’re getting all the business that you want but you can only handle two or three clients at a time.

Well, if you can double your capacity to work on clients, then you can double your income. If you already have the traffic, you already have the conversion process in place but your capacity’s not there to handle those clients, as soon as you increase the capacity to handle clients, you increase your revenue. You don’t have to worry about also getting more traffic or conversions because that’s already there.

When you find those bottlenecks, that’s what really opens it up allows you to grow the business. It’s just something to think about. Just a quick little thing for the week to think about in your business and really take a good look.

A lot of business growth and business success really just comes down to just really looking your business and being objective about it in saying “hey, okay here’s what’s going good, here’s how it’s going bad…”, break it down, look at your conversions, look at the way you handle your clients or your customers or whatever it is, and try to look and say, even write it down on a piece of paper – what are the openings, whatever you would call the opposite of the bottleneck, and then what are the bottlenecks?

And then you have a list of bottlenecks, and then you just go through and then you start expanding those bottlenecks, opening them up so that more can flow through.

Again, just a quick little thing, I hope you enjoyed it, I hope it gets you thinking about it, it’s not really going to help unless you sit back and actually think about it so please do me a favor and spend a couple of minutes just thinking about it, you can change your business, seeing what your bottlenecks are,  different ways that you can expand those bottlenecks.

I can’t go into that too much because of bottlenecks are going to be completely different for every single person listening to this. So anyway, I hope that helps.

If you’re interested in working with me, maybe we’ll talk about your bottlenecks together, figure out how to expand them, just go to http://www.jeremyreeves.com/. I also have a new webinar out,if you are in a service based business, is there a professional, basically it if you provide a service, you’re not selling a product more information product or software, whatever, like you’re providing some kind of service, I have a new webinar for you.

It’s really cool,where you actually get to watch build a sales funnel live. It’s actually automated webinar so it’s not technically live, but I built it on a webinar and then you actually follow along which is really fun and construct your own sales funnel within about an hour or so.

So that is at http://www.jeremyreeves.com/fastfunnel. Alright, so if you have a service based business, will check that out it’s really cool and I hope you enjoy your weekend I will talk to you soon.

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