The Leverage Points of Money Multiplication
April 21st, 2016 // 10:27 am @ Scott Manning
I say this time and time again… MONEY must have a place to go. Your bank account isn’t good enough. It has to have a purpose. Money moves where it will be utilized, appreciated, put to work.
This is why the idea of gradual growth is such a fallacy and ‘saving your way rich’ is simply not possible. Because money doesn’t sit still long enough.
If you want to accomplish big things, you have to learn to make money in big clumps. You need windfalls of cash not percentage points of increases.
In your business, the best way to break free of things that are holding you back is to out earn them. You have to out earn your problems. You do not out save your problems. The answer is to always ‘make more’ and that is the sign of a true entrepreneur, business person, and successful prosperity minded professional – they are looking for ways to make their skills, talents, business, time, sacrifices worth more to them, their team, their customers, patients, clients, and their company.
For my Dentists, the leverage points are endless…the three basic ones are: time value, case value, human value.
It is the same for all businesses, some have more and others, different leverage points, but everyone has these three.
Very basic.
Time Value – make your time worth more…you then make more. The only way to do that is to LIMIT what goes into your time with things that are more valuable.
Everyone gets this all wrong because they think ‘being busier’ is going to equal more money and it never, ever does. Only being more ‘productive’ or better said PROFITABLE will make your time worth more.
Not every tasks or action is created equal or worth the same but if your time is filled up with lower level things there will be no room for the bigger more profitable things. You have to build a business, a machine, a system that supports, allows, and enables your time to be filled with the highest value items.
Case Value – or customer, client, transaction, patient value…whatever ‘interval’ or word you use to describe the way money flows into your business is one of the most powerful leverage points and ultimate slack adjusters because it is all that you have to build your money formula with in your business.
What a customer is worth – the price that you charge – the fees you receive is directly in control of and dictates your outcome and final money number.
Make a customer, client, patient worth more – earn more. Generally, your overhead will be fixed, the cost will not go up, but if you can increase the top line number then you create massive opportunity to accelerate profit, income, and wealth.
The list of ways to do this and creative thinking for all industries is long, perhaps another time we’ll dive into it. A secret of wealth attraction and money manifestation is multiplying the size of the increments at which money moves into your business.
And then there is Human Value.
Oh yes, your people as assets. Kindly. Humanely. But…that’s what they are at least if they are getting paid and expected to contribute – then they are asset to you and to your customers, patients, and clients because without them there is no service, progress, delivery of value.
You invest money into people they should provide a return on that money no different than a piece of equipment, property, or anything else.
The beautiful part about people, human assets, is they are able to be an integral part of the wealth attraction and business growth process and be rewarded along the way – every person will be rewarded based on the value of which they are worth to the organization.
You want it to be that way. It must be that way. If you want to sabotage your wealth attraction and your ability to dramatically grow and expedite your acceleration to your goals you want your people to be empowered and rewarded if they are not you will sabotage your success every time.
The more people who have an impact and influence over the growth of the business, the attraction of money, the multiplication of growth and over the time value and transaction value of your business the bigger, stronger, faster you can and will become.
There is nothing more valuable and therefore more important than the value of the human assets within the business.
INVEST in your people and they will provide return to you.
Next week I will explain how to develop people and the fastest ways to get your team, staff, employees involved in the most important and impactful leverage points of growth for your business.
In the meantime…why don’t you assess the value of your time, transactions, and people right now and see what you are doing to enhance all three of them, deliberately, strategically, and effectively.
You can take your business to levels of success you can’t even imagine yet, simply by focusing on these three – most basic – leverage points of wealth attraction, business growth and money multiplication.
Category : Blog
