Business owners; you want to make more money, have more raving fan clients, have more fun with what you’re doing? There’s a certain way to get it. Would you like to know how? The answer is simple; find your sweet spot.
I had a client named Jim I worked with for three years. We worked together up until the point of where we sold his company. Jim, when we started working together, as the owner didn’t know his numbers really as well as he should have, obviously because of this was the first area we explored. However, once he really knew his numbers inside and out, it got him to think about other areas of his business. Such as structure, systematization, empowering his team by getting them in line to take over that company one day.
One particular day on a coaching call Jim said, “Coach, I got it.” I said, “What do you have Jim?” He shares, “I finally figured it out.” “What did you figure out, Jim?” “I found my sweet spot.” I said, “What do you mean?” He replies, “I found the product and service that I love delivering the most, to the clients I love doing business with the most, at the margin I enjoy the most.”
Jim discovered the clients he loves doing business with, with a product and service he loves delivering to them, that just happens to present the best margins. Everybody’s happy, everybody wins. The business does well, Jim does well because Jim’s loving what he’s doing as he’s training his team to do it right by delivering his goods and services with pride. Obviously, as you’re doing what you love to do that energy flows onto the customer, the customer’s happy because they’re getting a standard of excellence in both the delivery process of service and the end result. And Jim’s happy because the organization is making money. Jim found his sweet spot in business.
This week I encourage you if you have not done so already, to really identify your sweet spot in business, what you love to do most with the people you love doing it with at the margins most preferred for your organization. If you wish, I have a simple little exercise you can take, it’s simple, it’s called a skill fun matrix. There are nine boxes; the top right-hand corner is where you want to be, it’s what you and your organization love to do most that give you the highest reward and return on your investment. The bottom left-hand corner is what you don’t enjoy doing which doesn’t really give you a large return. That’s the box that obviously is being delegated to other people of which provides you the time to be in that top right-hand corner.
Maybe that top right-hand corner with you as a leader is all about you just working on your business and empowering your team, because as they deliver the goods and services with pride, you’re getting your best return on investment as you’re building the business, which is your job in the first place.
I encourage you this week, find your sweet spot. If any of you want to participate in this exercise of the skill fund matrix, it’ll take you five to ten minutes that’ll get you really clear on where to spend your energy, time, and effort and where not to spend your energy, time, and effort of which in itself is more money in your pocket. If you wish to grab onto this exercise, just reach out to me at firstname.lastname@example.org as I’ll be happy to send it to you.
COACH MICHAEL DILL is an Award-Winning Certified Business Coach, global speaker, and published author. He is a proud Action Coach Franchise partner as well as the President of Power & Ice Wealth Creation a strategic leadership company that works with business owners, leaders, teams, and entrepreneurs to both develop a systematized and structured organization while accelerating their mindset, efficiencies, and effectiveness to grow both personally and professionally to achieve extraordinary results. He brings more than 40 years of business and entrepreneurial experience in his leadership, team training, and mentoring practice. Businesscoachmichaeldill.com