Like this article? PLEASE +1 it! Evan Signature
Evan Carmichael Top Header
Share for a Cause









Is your business a kitchen table or barstool?

Written by: George C. Huang

Article Overview: The most effective way to multiply revenue is to build your business like a solid kitchen table. What are you talking about, you say! Consider that each leg of a kitchen table represents a potential revenue stream; most businesses generate significant from only one, perhaps two legs. If you want to maximize the revenue potential of your business, read on to learn about all four legs.

Free Download - Distraction Control: The most important skill for consistent high-performance in your business By George C. Huang
Name: Email:

Is your business a kitchen table or barstool?

There are only three ways to increase revenue in your business:
1. Increase the number of sales
2. Increase the average size of each sale
3. Increase the frequency of repeat sales

Easy, right?

But it’s not so easy if your business isn’t structured properly. And most small businesses aren’t.

The problem is that most small business owners focus solely on what they see others doing and offer their clients and customers only what they’re used to offering. The simplest way to increase the number of sales, the average size of each transaction, and the frequency of repeat sales is to look in one’s “blind spot.”

Quick, take a quick look at your kitchen table…Does it have four legs? Great. (If it only has three legs, then you’ve mistaken your bar stool for your kitchen table.)

Your kitchen table has four legs for a reason; it’s the most stable that way. And, that’s the kind of solid foundation upon which you should build your business.

Draw a 3-D line drawing of a kitchen table, complete with four legs. Under each leg, write one of the following labels:
1. Coaching
2. Consulting
3. Training
4. Leveraging

1. Coaching means providing guidance, advice, and support.
2. Consulting is like being a player-coach. You’re providing guidance, advice, and support. But you’re also on the playing field, helping implement your plans. (As a coach only, you’d get penalized or kicked out of the game for being on the playing field.)
3. Training happens when you provide information and education to more than one entity at the same time. Examples include seminars and teleseminars.
4. Leveraging means that you’ve turned your intellectual property into products and services that can help people (and that you can sell) even when you aren’t there. These include information products, membership web sites, certification programs, licensing, and franchising.

THE PROBLEM:
The problem is that most businesses are designed with only one leg of the kitchen table: The consulting leg. That’s akin to running a foot race on only one leg! Most businesses are missing out on tremendous opportunities to get more clients and customers, get them to buy more, and get them to buy more often.

THE SOLUTION:
The most solid way to build your business is just like a kitchen table, with four legs. Each leg represents a product and/or service. Built this way, your business will develop a more reliable (and larger) revenue stream…and stay stronger over the long haul.

SUMMARY:
Regardless of whether your business is product or service-based right now, you can structure your business according to the kitchen table model I just described. In fact, I challenge you to show me a business that can’t be built with four legs.

ACTION PLAN:
1. Map out different options for adding on one new “leg” to your business.
2. Rank your options by considering the following:
a. What leg makes the most sense, based on existing resources, revenue potential, benefit to your clients and customers, and ease of implementation?
b. Which options give you the best opportunity to develop a recurring revenue stream?
3. Now, take your top option and devise a strategy, action plan, and timeline for building that leg and rolling it out to your clients and customers.

Related Articles
  The bad table
  Could You Use Persuasive Selling?
  Real Nightmare - Finding a NYC Apartment
  You Have the Right to...Ask for Help!
  Saving birds using ether?!

Home > Business-Coach > George C. Huang > Is your business a kitchen table or barstool
Article Tags: bar stool, blind spot, d line, field 3, guidance advice, information products, intellectual property, kitchen table, labels, legs, membership web, player coach, repeat sales, seminars, small business owners, small businesses, solid foundation, teleseminars, three ways, time examples

About the Author: George C. Huang
RSS for George's articles - Visit George's website

Dr. George Huang is known as the authority on the anatomy of the freedom-driven business. He helps entrepreneurs enjoy greater levels of freedom in their lives, deepen their contribution to their customers and clients, and achieve their revenue goals. George created the Freedompreneur Training Center for entrepreneurs, coaches, and consultants to learn the best principles and practices for creating high-performing businesses. http://freedompreneur.com George also created the Six-Figure Success School for coaches and consultants to teach them the principles and practices he used to create a six-figure, recurring revenue stream in less than 90 days. Under his guidance and using his documented systems, one of his clients bested George's record and created his own six-figure revenue stream in 70 days!

Click here to visit George's website
Dashed Line

More from George C. Huang
How the Sinking of a Great Warship Can Make Your Business Better
Distraction Control The most important skill for consistent highperformance in your business
Are You Guilty of Shotgun Marketing
Ready Aim EXIT Why Exiting Planning NOW Will Benefit Your NOW
Build it and will they come A business tip from Thomas Edison


Related Forum Posts
Re: Has anyone used the SBA's Micro Loan program? Re: Has anyone used the SBA's Micro Loan program? - What kind of loan do you get to fix up a new home you just purchased? I am purchasing a foreclosed home and the previous owners took the kitchen cabinets and counter tops. Now my banker says I can't get additional money to purchase what i need to fix the kitchen. So my question is where do I get a loan for that? Or what kind of loan?
Profiles of Women Entrepreneurs - Bravado Designs Profiles of Women Entrepreneurs - Bravado Designs - Bravado Designs is a great company to profile for women entrepreneurs. Kathryn From and Shery Leeder are once again on this year's Profit 100 list of Women Entrepreneurs and this year have moved up to #68. They also won the prestigious Rotman's Canadian Woman Entrepreneur of the Year Export Award in 2002. The company, which designs, manufactures and sells nursing bras and nursing apparel, has been steadily growing since it was started at a kitchen table in 1992, and now has worldwide sales. Could it possible be another Robeez???? Kathryn From speaks regularly on entrepreneurship and would be great to profile. Maureen
Re: Validation issues Re: Validation issues - [quote="Christine Sutherland":3805zxix] Here is the first error: 1 Error Line 50 column 45: there is no attribute "BORDERCOLOR" <TABLE ALIGN="centre" border="1" bordercolor=(red quote mark with 4 red dots under it)#0066600" width="584" [/quote:3805zxix] Hi Christine You will need to create a style sheet file for all of the table attributes, such as border color, border width and width of the actual table. E.g. <style type="text/css"> table.sample { border-width: 1px; border-spacing: ; border-style: ridge; border-color: black; border-collapse: separate; background-color: #fffff0; } table.sample th { border-width: 1px; padding: 1px; border-style: inset; border-color: gray; background-color: white; -moz-border-radius: ; } table.sample td { border-width: 1px; padding: 1px; border-style: inset; border-color: gray; background-color: white; -moz-border-radius: ; } </style> <table class="sample"> <tr> <th>Header</th> <td>Content</td> </tr> </table> Don't stress over this too much, it can help you in search engines against other websites but it won't automatically give you special powers in the search engines.
Re: How do you create the WOW factor in business? Re: How do you create the WOW factor in business? - It is really impressive for waiters to memorize your orders AND to get it done right and on time. We went to a nice restaurant before - nice ambiance and good food - but unfortunately doesn't have an ordering system in place. One waiter entertained us and asked for our orders. Right after she was gone, another came and took our same orders. We ended up with two plates for same order in our table. What's worse, the service was so lousy it took them twice the time than it normally should to take our order, cook it, and put it in our table. We never went back there again.
Re: Partnering up Re: Partnering up - [quote="Evan":2ueek1ra]Hi Som - if you need a good programmer to partner with, what are you bringing to the table? If you have a solid plan and it's going to make money, you should be able to convince a programmer to partner with you if you're going to take care of the business end.[/quote:2ueek1ra] This is a good point Evan! I am in a position to both invest time and resources into this project but I would first want to know what you as a partner can bring to the table apart from the idea. The reason being, and I am not saying this is what you will do, but if I invest all my time, money, and resources into your venture without any investment from your part. How can I be so sure you won't pick up and leave if you realize the project is going sour?


Recommended Article for You close

  The bad table

Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.



Featured Article


Bottom Footer
Share for a Cause












Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

ROSI Return on SUNK Investment

The Pure FUN of Learning & Using NLP

How to Improve Your Time Management

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.