The Power of Doubling (Transcript)

We all face barriers in business; financial, organisational, logistical, but there are none more difficult to overcome than the mental barriers which we create for ourselves.

These barriers create limitations in people’s minds which is why most businesses struggle to imagine how they might increase their online profits by a mere 10 or 15%.  But the idea that they could increase their profits by 100 or 200% in record breaking time seems just too far-fetched to be believable.

That’s the average business’s mindset but you’re definitely not the average business.  You are one of that rare group of people who is striving to make major improvements to their business and to make them quickly.  However, the majority of people looking to achieve incredible results pay little attention to a vital part of the ‘success’ equation and that is how they think.  Because it’s not just your choice of action that determines your success it’s also your mindset.

And that’s a fascinating subject so, today I would like to show you one of the most essential mental steps towards success in online entrepreneurship – and that is ‘the doubling mindset’.

There is a widespread belief, held to be absolutely true, that the results you get are directly proportional to the effort that you put in – in other words, that one unit of effort equals one unit of reward.  In fact, society places great emphasis on this.  It’s woven into our thinking from birth by our families and emphasised even more so at school by our teachers.  And it seems so reasonable.  The greater the effort, the greater the reward.  We even see this rule hold true in real-life.

If you want to run a mile in four minutes instead of eight you are going to have to run twice as fast.  If you want to climb Kilimanjaro instead of Snowdon, you are going to need to be twice as well prepared and be twice as fit.  If you want to double your bank balance you're going to have to work twice as hard.  Right?

Wrong.  That's one example where the rule breaks down. 

In fact it’s complete nonsense.  The idea that one unit of effort equals one unit of results in business is completely ludicrous and potentially very damaging to your future success. 

Millionaires can’t work any harder than anybody else yet they generate huge results.  In fact, many of them don’t work as hard as they could and yet still create dramatic effects in their businesses.

So, what’s the fundamental difference between them and a regular business?  Well, oddly not much.

Every business has the ability to take one unit of effort and multiply it into more than one unit of results.  A simple example would be Elvis Presley’s Jail House Rock – he sang it once but it’s been sold millions of times over!

So, sitting in between the work you put in and your results you get out is a process which multiplies the effects of your effort.  The really successful businesses and entrepreneurs have mastered that process and spend their time maximising every opportunity for improving it. 

Richard Branson's business has a multiplier which creates outstanding results, where one unit of his effort is equivalent to thousands of units of output.  So does Alan Sugar, Bill Gates and Peter Jones. 

Now here’s where your business is exactly the same as all of theirs…

It’s the same because you too have a multiplier engine in your business.  In fact, you’ve got lots of these engines all hard at work creating the profits that you generate.  That means you have multiple opportunities to create truly stellar results.  All you need to do is recognise where the multiplier engines are and maximise their effects. 

What I find genuinely astonishing is how many businesses ignore one of the most powerful and fundamentally business changing engines they have at their disposal and that is, of course, their website.

Let's take an example.  Let's imagine that at the moment your website attracts a hundred visitors a day and every day you get one enquiry.  That means your conversion rate is 1%.  So for every 100 units of effort you’re getting 1 unit of results.

If you were to double your visitors, you’ll double your conversions – no surprise there.  But all you’re doing there is turning up the volume, increasing the effort if you like but it’s still 100 units of effort to 1 unit of results.

Well, the multiplier engine in this example is your website itself.  If you optimise the website so it’s converting 2 visitors in 100 instead of 1 you’ve doubled your profits but not had to stand the cost of increasing traffic to your site.  Essentially, you’ve doubled your results without increasing your effort.  If you then add in a doubling of your traffic, you’ve now quadrupled your profits.

That’s an example of optimisation by increasing the efficiency of your website but it applies to every part of your business. 

How you go about creating those effects is not through redesigning your website, nor is it by adding lots of features, functionality and technology – you achieve these results by intelligent, focused, cutting edge online marketing techniques and strategies.

The more of these approaches you implement the more you expect to see results in terms of increases by tens and hundreds of percent.  And that represents a fundamental shift in thinking from those who are content to place limits on their achievement because they aren’t prepared to become experts at online marketing.

So, if you thought that doubling your business would be difficult I hope that this has demonstrated that it might be simpler than you imagine. 

If you’d like to understand the practical steps you need to take to achieve this level of success please review my work on this website and join my FREE Internet Growth Programme.