Now here’s the funny part: when they try to get their hand out of the container with the peanuts, they find that they can’t do so without letting go of the peanuts but they are not willing to do that, so while they struggle with the container, the hunters are busy reeling them in for the slaughter. These poor monkeys end up as dinner simply because they weren’t willing to let go. They held on to something that’s good but is clearly not good for them in the moment and as a result they end up in captivity or worse still dead! So here’s the question: are you acting like a monkey?
Are you still holding to values, habits, beliefs, strategies, and relationships that are not bad but are really not doing you any good and will probably put you in trouble if you stay focused on them? When it comes to becoming a highly paid coach, consultant or trainer this is particularly important. You simply will not see any major improvements in your results if you are still holding onto the level of thinking that produced the results you experienced in the past.
Here’s another question: How do you need to think about your business and clients in order to make the next 12 months better than the past 12 months? There are a number of things I could suggest you do, but it’s 2am in the morning as I write this and my wife needs my attention, so I’ll focus on the one thing that I know will make the difference for you and for me:
Relationships!
I’m sure you’ve heard people say “Time is money.” Well, here’s a shocker, I don’t really believe it’s true. As far as I’m concerned time has never written me a single check. It’s people—and more importantly, your relationships with those people, who end up writing the checks. One of the biggest limitations to your success this year will be the various kinds of relationships you’re locked into. I’ll dare to bet that there are certain business relationships that you currently invest time and resources in that don’t (and won’t) grow or get any better. In the next 12 months your goals may change and get bigger, but if you’re trying to achieve them using the same old relationships, it will get harder and harder to achieve them. In other words you’re a monkey!
It’s easy to get overwhelmed trying to maintain all your business relationships and give them equal service. I know, I’ve been there and done that and have the scars to show for it. It’s important to realize that as you grow your business, you’ll get to a point where it simply doesn’t make sense anymore to work with everyone who walks through your door.
According to the Pareto principle, 20 percent of your clients generate 80 percent of your income, while 80 percent of your clients generate only 20 percent of your income. To add salt to injury, most of the time it’s the 80 percent who provide less income that also dominate 80 percent of your time! Some relationships are just not worth the stress either financially or emotionally. The good news is that within your current client base, there are clients that represent the kind of people you want to work with in the future, as you grow.
One thing I’m committed to doing and I suggest you do the same, is to focus far more on those top 20 per cent relationships—the current clients or prospects that truly appreciate what you do and are willing to reward you for it. These are the people who won’t view you as a source of free information or a commodity; they value your wisdom and see you as a partner in making some important part of their life and business better or easier. Focus on these top 20 per cent and find a way to spend less time with the rest. Left to me I’d say just fire the rest, but most people won’t do that!
Anyway, spending less time with the 80 per cent group frees you up to devote more time and attention where it will be most rewarded. Whatever income might be lost initially will soon be replaced many times over by you core top 20 per cent. Many of us are just one relationship away from incredible opportunities, but we’ve got to be willing to focus our attention on our best relationships in order to be able to create it. So look for those clients, customers, prospects, connections, suppliers, centers of influence and strategic partners that you can (mutually) get out more than you put in.
Of course, the most important relationships of all are the ones with your spouse and family. Yet with all the demands of running a business, it’s all too easy to let these slip into the background. Focusing on your top 20 per cent has the benefit of giving you more time to spend on those personal relationships that bring life’s best rewards. Speaking of spending quality time with your loved ones, I really need to wrap this up, my wife’s getting a little restless!
Let me know what you think in the comments section below. Remember if you want better opportunities and bigger checks in the next 12 months, focus 100 per cent on your most valuable relationships with the highest potential. Have an awesome week and stop being such a monkey!!
Victor is the founder of Experts Business School and creator of The Highly Paid Expert Program: a unique personal and business development program designed to help speakers, authors, coaches, consultants, trainers, entrepreneurs and corporate executives build a business around their knowledge, expertise and life experience that earns anywhere from N18million to N300million in annual revenues working 100 to 250 days a year with just one to three members of staff.. Follow him on Twitter @mrvictorbassey or contact him by calling 0807 538 7707