I met
The Missing Element
I continued, "If 40 sessions is your goal and your revenue generation is limited to the hours you personally train, when '40' becomes a reality, you'll still have to invest additional hours in travel, program design and the financial aspects of your business. Your vision and your plan are not in synch. Unless you master the missing element, you're always going to feel the future you want is out of reach."
There was about a minute of silence. My nose was still on my face so I suspected I was opening his mind up to possibility.
Here's the good news. In February of 2007,
The Three Elements
I've already, in this series, introduced and addressed the elements that contribute to professional prosperity. But in brief summation, the first, the Reach, is a strategic marketing output intended to continually draw attention to what you do and how you help people. The second of the three elements, the Funnel, is a vehicle for maximizing the dollar return on your time. It requires a forum or a presentation that brings people in a group to invest in your services with an opportunity to commit ongoing. In essence, your funnel turns curiosity into commitment.
The final element the Spillover is a simple concept, but I'd be lying if I told you it was simple to implement. At first, it requires lots of your time, careful scrutiny and the development of some management/leadership skills, if those traits aren't yet at the top of your personal talent arsenal. To understand the concept of the Spillover, envision a funnel with a narrow bottom tube suspended over a collection jar. Imagine a waterfall of gold coins being poured into the top of the funnel, and you'll see coins falling to the sides, the funnel overflowing and a small percentage of the gold coins landing in the collection jar below. Those gold coins can stand as an analogy for client sessions. The ones that never make it into the top of your funnel are sessions that you'll never own, but the real trick lies in managing the collection jar below. When it starts to fill up, if more gold is to be acquired, you will have to find a way to increase the volume capacity. Ditto for your professional calendar.
Generating Profitable Spillover
There are limits to the number of clients you can personally train, but there aren't any limits placed upon the number of prospective clients you can reach. In that lies the futility of
Essentially, the Spillover serves as the collection vessel. Your Spillover is best built by the recruiting of an apprentice, who appreciates the opportunity to work for you, and then the successive recruiting of underlings. Think of it in its simplest application. If
If making $975 per week,
I don't know the details of
Creating Effortless Prosperity
With this information, you will hopefully begin creating a new alternative for the future of your business. One in which you train fewer hours, but where each training hour is rewarding and productive, and build a team to catch the coins that fly through your funnel.
There may appear to be a contradiction between the idea of the Spillover becoming a vehicle to reduce your required work time and my earlier statement professing the Spillover requires lots of your time, careful scrutiny and the development of new leadership skills. But despite first impressions, this is not a contradiction at all. Effortless prosperity, as I mentioned in the very first article of this series, is not "prosperity without effort." It is, at least as I've come to recognize it, a state where you love what you do, you're rewarded as you deserve and "work" feels "effortless." If you're going to build a strong and valuable Spillover, you absolutely must develop systems, recruit with painstakingly critical eyes and ears and train your new hires until they understand not only why you want them to do things in a certain way, but what you would do in almost any work-related situation. They have to understand your approach, your message and your mindset and they have to buy in fully. That takes effort, but if you pull the pieces together, this effort will come back to you a thousand-fold. When you turn the Reach into habit, you master The Funnel and you create your Spillover. There are few growth opportunities in any service business that will rival your new potential.
Phil Kaplan's newest program, "Change Your Mind, Change The World," is available at www.philkaplan.com.