Practice Paradox | Going for Growth - Marketing Strategies | Communicat Careers Breakfast 17 June 2010 Brisbane

© 2010 Practice Paradox IP Pty Ltd

Going for GrowthHow to Make Your Business Flyand Your Career Take Off!

Michael ‘MC’ Carterpracticeparadox.com.au


In the next 60 seconds• Find two people you have

never met before

• Shake hands, introduce yourself:• Your name• What you do• Exchange business cards

Introduceyourself

Introduction | Limitations | Leverage | Lessons | Action Plan


The Northern Pike Experiment



What Are You Worth?(In Annual Income)

• Write down what you earned:• 3 years ago• This year• What you

want to earn in 3 years time



Position Title

Description of the role, responsibilities,

tasks, conditions, career path.

Salary $X

Job Ad #1

Position Title

Description of the role, responsibilities,

tasks, conditions, career path.

Salary $2X

Job Ad #2



Many of our limitations areself-imposed



Many of our limitations are

imaginary



“Give me a lever long enough, and a prop strong enough, I can

single‐handedly move the world.”

Archimedes(c. 287–212 BC)




The lever multiplies the

output

Input Force

Output Force

Fulcrum

Lever



In other words, leverage allows you to achieve

greater results with less effort.




Some Examples:Plays vs Movies

Hand watering vs SprinklersTraining Others vs DIYSystems vs Reinvention

Growing Revenue vs Cost Cutting




Key Skill:How to identify

‘leverage points’ in your business




Lessons in Leverage from a Suburban Travel Agency



“We need more customers”



What you can measure, you can manage.

What you measure, improves.



Our beliefs about ‘selling’ and ‘salespeople’



Travel insurance

Accommodation

Shows

Stopovers

Car hire

Short Tours



They were only selling the flights!



They weren’ttravel advisers



They wereorder takers



Values

Change management model

Beliefs Behaviours



• Negative beliefs about ‘selling’

• Lack of focus on number of items per booking

• Lack of measurement system

• Lack of sales skills training

• Lack of systems to support behaviour



Results we achieved• With only two leverage points addressed ...

• $800k revenue when we started working together • Applying CPI = $1.24m in today’s dollars

• $3.4 million revenue 18 months later• Applying CPI = $5.26m in today’s dollars

• ... despite Ronnie’s initial request was, “Can you help us with our marketing? We need more customers.”



Results we achieved

$1.24m

$5.26m • Without one extra ad(or even improved ads!)

• Without one extra customer beyond their normal traffic

• Without one extra team member

• Plus, Ronnie worked less!



$1.24m

$5.26m

Now that’s leverage!



How can you apply leverage?

Create more value

for the business

You need to be more

valuable

To increase your value

Look for leverage

points you can apply

➔ ➔ ➔



To achieve your worth1. Look at what you wrote down as your desired income

in 3 years time• Were you imposing imaginary limitations?

2. Multiply it by your employer’s benchmark (e.g. 3x)• This is your target revenue to generate

3. Look for leverage points in the business • Opportunities for improvement, multipliers!

4. Implement better ways of doing things; test, measure5. You will ultimately be paid what you are worth!



Thank you!How to Make Your Business Flyand Your Career Take Off!

Michael ‘MC’ Carterpracticeparadox.com.au