I recently attended a 2 day online business seminar, which was conducted by my long-term mentor, James Schramko. I’ve been at each of his training events since his first one in 2009 – in fact I co-ordinated most of them for him! So one might think that over the last 4 years there would be overlap in content, but in the dynamic (in the true sense of the word) online world, strategies, tools and techniques are constantly evolving.
And it has become obvious that incorporating smarter business concepts into ‘online business’ is now integral to success.
The focus of this particular event was ‘targeting the 4%’ – taking the Pareto Principle to a new level that focuses on the 20% of the 20%, and applying it to your actions. And I found that it is easy to do once you take the complexities out of your practices and your business.
I learned about Linear ‘Single Right Thing’ Progression, identifying the single most important thing that will improve my business, and how to set the well-considered course of ‘right steps’ that will take me there.
For me though, the most valuable session from the whole two days was the very last one, which really forced us to zero in on topics covered by not just James, but by guest presenters Ezra Firestone and Clay Collins as well. And I thought the key elements are worth sharing here.
We were asked to answer these 9 questions:
- What one thing can I eliminate from my involvement in my business that will allow me to focus on the 4%?
- In what one place will I find my ‘Perfect Customers’?
- What one thing can I do that will get me one more high ticket customer?
- What one next-level higher priced product or service that can I introduce into my business?
- How can I be paid a recurring fee for product or service?
- What am I doing that I should be saying ‘no’ to?
- What one thing can I do to prevent being single-source dependent?
- What one thing can I do to automate aspects of my business?
- What one thing can I delegate in order to grow?
I know that I will be making changes to my business as a result of attending FWF4, including using video more (thanks for your session Ryan Spanger), and focusing on that 4%.
I wanted to use this event as an example of how taking yourself away from the minutiae of your business for just two days to learn from niche experts can help you to see the trees (particularly those with low hanging fruit!) in the forest, boost your productivity and, as a result, grow your business .
If you are an ‘implementer’, the results of learning how to work smarter will become obvious right away.
The two day event was recorded, and one session is already available for viewing. If you’re interested in more details drop me an email!