#106: Next Level L.E.A.P: Limiting Your Focus
Last week, I introduced my new framework to you.
It's called the L.E.A.P Methodology, and it's something that I've been practicing with clients for many years now.
It took me some time and I'm so excited to share it with you.
And what I've found is that this is the methodology that creates massive leaps in businesses that are established, that have already gone through the proof of concept stage, and now they're looking to actually create more growth in their company by doing less.
Last week, I shared with you the overview of what the L.E.AP Methodology stands for.
Today, I'll be going through with you what the L in L.E.A.P stands for and why it is the most important place to start when actually creating massive growth in your company.
Listen to the Show:
Laura (00:00):
Hey there, so last week I introduced my new framework to you. It's called the leap methodology, and it's something that I've been practicing with clients for many years now, and finally pinned down exactly what I do and how I do it. It took me some time and I'm so excited to share it with you. And what I've found is that this is the methodology that creeps massive leaps in businesses that are established, that have already gone through the proof of concept stage, and now they're looking to actually create more growth in their company by doing less. And in the leap methodology last week, I shared with you the overview of what it stands for today. I'll be going through with you what the L in leap stands for and why it is the most important place to start when actually creating massive growth in your company.
(00:53):
Welcome to Next Level Leap, a podcast where we dive into the mindset and strategies of scaling your company and creating a legacy brand. As a top growth strategist, multi passionate entrepreneur membership site, owner trainer, speaker, author, and mom to three. I love exploring the journey of how we as founders can multiply our income, impact and influence by landing on the other side of our next big leap. Let's get started.
(01:28):
Time and time again, I hear from entrepreneurs that they are overwhelmed, that they're frustrated that they're frazzled, that they have too many things and not enough time, and that they are really just over it. Over of the hard work and wondering if it's really worth it in terms of the return of what they're putting in. And I can understand that cause I've been there many, many times myself and now being on the outside of that frustration when I'm working with my one on one clients and when I'm helping consultants refine their processes, I can now see that actually, when we are in that moment of frustration, it can be a matter of doing less, not more of simplifying a business that maybe became more complicated during its high growth season and pairing it back to the most important activities and doing nothing else. And when we are in that season, what I recommend is that we start with a limited focus and this isn't designed to be limited in the sense of limiting opportunities or limiting growth.
(02:41):
It's actually quite the opposite, but it starts by limiting focus because once you have a business, that's actually getting some level of result, there's always going to be things that have worked really, really well. You're going to have a best message that converted exceptionally well. Maybe it didn't do what you wanted to do on the back end, but it converted great on the front end, or it gave you record cost per lead or a incredible click through rate on your ads. Or you might have a best buyer. Somebody who loves you stuck around for a long time, they got a quick result. And then they continued to experience success working with you or your programs or services. You also probably have a best profit margin, something that made a whole lot more money than other things in your business. And a lot of times when I'm running my own companies, I have
to take my own advice, which is not always the most obvious to me as you could probably imagine as it is for many of the people that I work with.
(03:45):
And so we were mapping out our Q2 plan and I had recently launched a live webinar. And on that live webinar, we saw record success on the front end message. Our registration page was going from 50%. And then as we got closer to the webinar, 60%, and then the days leading up to the webinar, it was a 70% conversion on the page. And if you know anything about page conversion, you know, that that's really high. And it was a combination of warm and cold traffic. So we could even say like, it, it wasn't even just because everybody was visiting was familiar with the brand. It was remarkable. And then our cost per lead was awesome. It was way below benchmark or even what we were expecting. Our target registrations were two 70. We got almost 400 registrations. It was really exciting. And then I presented the live webinar and we had one person buy. It was a real bummer, you probably experienced that in your business.
(04:50):
Because I know that webinar funnels are extremely unpredictable and probably one of the leakiest funnels that you can produce, particularly when you take them evergreen. I wasn't too disappointed. I knew that this was something that I wanted to test. And at the same time that temptation to blow it up and start over was real. My friends <laugh>, it was real. And as I went into communities of other marketers that I speak to often, they would say, oh, maybe you should try another webinar. And I kept thinking to myself, why, wait a second? Why? As much as I would actually probably enjoy coming up with something new and creating something new, as many of us do as entrepreneurs, there's only one thing that didn't work. And that was the pitch on the webinar. When you looked at the numbers, the appropriate amount of people stayed until the pitch.
(05:45):
And then when you looked at the numbers, an appropriate amount of people watched the replay and opened up the emails, the pitch didn't work. And it was probably for a couple different reasons. We had recently raised our prices on the membership. So maybe some of that traffic remembered the old pricing. And this is an offer that most of our list has seen before. And if they've probably already made a decision around, they've either purchased it or they've decided not to buy. And I knew that with that limited focus of what am I going to fix about this webinar, not scrap it and start over or get frustrated that it didn't follow the plan or become overwhelmed or buried by anxiety, which I can completely understand would be a natural reaction, but instead limiting the focus to the part that actually didn't work. And I know for a fact, there's a bunch of reasons why people would watch a pitch and not buy from you.
(06:45):
The reasons can range from, they just didn't think that it was worth what you were selling it for, or it, they didn't believe it would solve their problem. Or they just really, you know, kind of thought, well, I could just do this on my own, or it didn't really convince
them that this is a problem that they need to solve right now. And as I was going through all those different reasons, I came to my own theory as to why it was that they didn't buy, flipped the script a little bit created the same offer, but positioned it way differently. Redeployed the webinar live just to the list. Didn't spend any more money on ads the following week and saw a dramatically different result, way more within lines of what we like to see when it comes to webinar performance benchmark. So the big lesson here is that when we limit our focus to only the places where we need to be paying attention, what happens is, is that we become re-energized in the business.
(07:48):
We don't need a lengthy plan for each of our quarters or each of the months coming ahead, we don't need to be doing all the marketing things. We don't need to staff up on social sellers. If you know, we don't necessarily have that function within our company. We need to limit the focus by getting really clear on what is it that we want to accomplish. And that's the first question that I ask my clients. And a lot of times it's a very long answer. When you say, well, what is it that you want to accomplish by working together? It's almost like taking a really big purse, filled with a lot of things and dumping out the purse on the floor and trying to figure out what goes back in the purse, right? What belongs and what should be left behind.
(08:37):
For many of my clients, this is a breakthrough in itself, just asking, where do we want to limit focus to what are your main goals here? Cause it helps them get back to their why. A lot of times, especially for us women, we care a lot about lifestyle, a lot about freedom men do too. But I think for women in particular, we're balancing a lot of different other priorities that are important to us. And we often start with the amount of time we're working or it, whether or not the money is the payoff for the amount of time we're putting in or how much time is being taken away from our families or our relationships. And most of the time when we actually identify what is that limited focus, most of what you're doing, you don't actually need to be doing. So this is a great news for many of our clients.
(09:27):
And this starts out by collecting assets and looking at what has worked best in the business and simply doing more of that. And when I collect all of what's in the purse, right, when we do our intake and we look at all the different assets and we look at the numbers, we look at the performance for a lot of the clients. It's, you know, it's challenging, you dig up all that information. Most people don't just like have that all in one place hanging around like all of their registration page performance or the lifetime customer value of their best customers. And, you know, pulling that out. Actually a lot of times they even need our help identifying it and sourcing it. But when we actually look carefully as at what has worked best in the business, and we do more of that, that is when they see exponential growth, this is how you actually grow your business quickly without making yourself crazy, because what everybody wants, every busy entrepreneur wants more time, more money, more fun, more impact and less stress.
(10:31):
And for many experts who have figured this out, they realize a lot of the time, the less they work, the more they make as crazy as that sounds. And so the idea is just to do the stuff that works the best with that limited focus and really only focus on what matters most. And the challenge is if this was so easy, we'd all be blissfully happy, right? This is why we need that outside perspective. And when we're looking for primary focuses, what we're looking for again, is that that most profitable product, right? That best buyer that was easy to sell to who got it right away, who received results immediately, who was happiest with what it was that you offer and that they converted on the, the best lead magnet or the best front end message. And that you have the best sales process, the thing that worked the best and it's where you would want to focus.
(11:33):
And when we limit our focus, what happens is we have a business that's high net profit, it's energizing, cause you're serving your best customers. It's easy to sell because it's focused on your best message. It's easy to deliver because you like the fulfillment the most, that's what we're looking at in terms of scaling and it's sustainable. And for a lot of what's considered to be most successful in the online space. You are. We're often surprised that when we look at some of these best case scenarios, people that are, you know, saying that they're working three or four days a week at the most, and they have these eight figure businesses, it's usually because they have this down. It's usually because they might have one, maybe two products that they have decided is what it is that's working best in their company. And they doubled down on it where they were looking at ease of delivery, net profit, ease of sale, sustainability, the ability for it to be replicated or automated.
(12:33):
And when you find this limited focus, it's the only thing you should be focused on. And after you've identified, your are limited focus. If you concentrate on all your efforts to attract your best buyers, using your best front end messaging or your best lead magnet or your best opt in, and then you put them into your very best process, which sells your most profitable product, you are winning in business. And so that is why it is so, so important to choose a limited focus first and foremost, when you're establishing any type of growth plan, because you're probably pulled in lots of different directions every single day. But when we focus only on what it is that you want, what's working well and how to do more of that. That's when we create these next level leaps in business. Next week, I'm going to be sharing with you the E, which is the established plan. The plan has to come from limited focus and that's when we can really create these very simple, easy to implement plans, but there's some tricks to them. So make sure that you tune in next week and I'll be sharing a little bit more about how this works at that time. See you soon!
(13:48):
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The Scale with Joy podcast dives into the mindset and strategies of scaling your company to the million dollar mark and beyond. Each week, we follow the journeys of innovators, disruptors, experts and leaders - sharing behind the scenes stories of their most challenging moments and greatest lessons learned-all while building their multi-million dollar empires.