Plan by the month, not by the year. Keep a daily log of three things: bookings, cash collections and owner withdrawals.
These are Mark LeBlanc’s suggestions. He’s a veteran of the public-speaking circuit. You know: land speaking gigs, sell books at the back of the room, do some consulting and coaching.
It’s not an easy business. Scores are lured each year by the glamour of getting paid handsomely to travel the globe and entertain groups over lunch or dinner. Many try. Few make it. It’s a business, to be sure, and like every business, it’s not nearly as glamorous as it looks and a whole lot more work than people realize. Few find enduring success. Mark LeBlanc apparently has, and he started out 25 years ago with little more than determination.
The niche he’s carved out helps business owners grow their businesses. He’s written a little book aptly titled Growing Your Business! I attended a presentation by LeBlanc to a group of public speakers. Aspiring public speakers, I think it’s safe to say. His advice?
- Focus on just three things: bookings, cash received and owner withdrawals. Track each on a daily, monthly and rolling 12-month basis. Keep all three rising.
- Set goals monthly. Setting goals and having focus are important. Most of us do the first of each year. So when you’re off track by the third week of January, why let another 49 weeks go by? What kind of goals should you set each month? Just one: bookings. Each month, set a goal for bookings. LeBlanc calls it your “optimistic number” for the month. Then work each day to hit your optimistic number.
LeBlanc offered the following advice to keep focused. Each morning ask yourself:
What am I going to do today to book my optimistic number for the month?
Then each evening ask yourself:
What did I do today to book my optimistic number for the month?
At the break, I explained to LeBlanc that this is all simple until you’re swamped with work. When you’re busy, all this prospecting goes out the window. He understood, of course, but said if you want to continually make more money, you must continually focus on the three key things: bookings, cash collections and take-home pay. Yes, you must deliver your service and handle administrative duties such as collections, but your job is to figure out how you can get the work done and also continually focus on growth.
He said business owners also tend to get distracted on all kinds of things that don’t contribute directly to booking revenue and taking more money home. Focus on the three essentials and the unproductive activities will automatically fall away. I like LeBlanc’s advice. It’s simple. Makes sense to me.
This article originally appeared in The Business Owner Journal, the periodical of choice for owners of small and midsize private businesses. All rights reserved, D.L. Perkins LLC. © 2012.
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