Get Lean...Fast!

Update!!! You can read about the Trainer's Inner Circle course curriculum here: http://trainersinnercircle.com/curriculum.html

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You know who I am.


I can't imagine you don't know Pat Rigsby.


But there's a good chance you don't know the third member of the http://trainersinnercircle.com mentorship program.


So I had the man who "trims the fat" from fitness businesses write some tips for you to introduce you to the one and only Nick Berry.


It's the type of information I don't touch on nearly enough.


- Jim


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One of the lessons that far too many entrepreneurs, in any industry, learn too late (or never at all) is this:


It's not how much you make, it's how much you keep.


There are a ton of individuals and businesses out there whose revenues look incredible, but they aren't making any money.


Well, the bottom line is the bottom line. And generating revenue is only part of the entrepreneurial battle.


Cost control is another major issue. It doesn't really matter to me how much revenue you bring in, if you can't manage to keep any of it, now does it?


There are an infinite number of ways you can go about controlling your costs and keeping more of what you've earned. I've outlined a couple of the concepts that I recommend to anyone who wants to 'trim the fat' from their business.


1) Want vs. Need


This is the simplest of formulas for controlling your costs.


Ask yourself one very simple question whenever deciding upon an expenditure:


How will my business be affected if I do/don't do this?


It's a simple matter of wants vs. needs.


Another example is an acquaintance of mine who started his own business.


When it came time to clean some of his floors, he went out and bought a mop, a mop bucket, soap, and some sponges.


He spent almost $60 on cleaning supplies - all of which were the highest end products.


You can go buy a mop, bucket, soap and sponges for under $25. He WANTED a rolling mop bucket and wringer, he NEEDED a bucket that would hold water.


I understand cheap products don't last as long, but if you overspend on items when it's just not necessary, YOUR BUSINESS won't last long.


This is not a 'Cleaning Supplies Theory', this is a 100% time tested business principle. You cannot overspend on everything and expect to have a highly profitable business. It's impossible.


2) Time Management


It's very cliché, but yes, time is money.


Therefore you've got to be as thrifty with your time as you are with your money.


When you are inefficient in task execution, minutes turn into hours, hours into days, and so on.


How often do you take 30 minutes to complete a 10 minute task? Your phone rings, you check your email (or your Fantasy Football Team), or any other numerous speedbumps that slow your productivity.


You are stealing time from your business. And if you have employees who are inefficient, they are stealing time from your business.


One of the most effective time management exercises I do for myself, when I feel like I'm not executing as many highly productive tasks as I'd like, only takes an extra 3 or 4 minutes a day.


Take a sheet of paper or small notepad and pen, and keep it with you.


All day long, every minute of your day is dedicated to some task. For example:


7:45-8:15 workout
8:15-8:40 meet w/ Pat and Holly
8:40-9:20 go to office, open mail, check email 9:30-10:30 AP reports and bookkeeping with CPA
10:30-10:43 Mgmt conference call


Get the idea?


But don't lie to yourself. If from 9:20-9:32 you didn't really do anything, then make sure you keep track of that.


By the end of the day you'll know just how effectively you're really managing your time.

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The http://trainersinnercircle.com is filling up fast. Enrollment ends Monday, October 1st at 11:59 PM EST.


You can read about the course curriculum here: http://trainersinnercircle.com/curriculum.html


You can see the FAQ's here: http://trainersinnercircle.com/faq.html