Wednesday, May 26, 2010

Are You Making Sure You Max Out Your Income? -- Day 16/365

Real People.  Real Business.  Real Life.

I brought this up in brief yesterday, and today I realized I should give it its own blog post.

When you are in business for yourself, you're only paid when you get results others will pay for.  That was yesterdays topic.  And I made the point that, of everything you are doing, there are typically 3 top tasks that can account for the bulk of the results you are generating --- and thus the bulk of your income.

If you are not clear on what those top 3 tasks are, you'll waste a lot of time and energy spinning your wheels, getting nowhere, and typically taking away from the results you could be getting ... and income you could be generating.

For example, my top 3 activities are:
  1. Writing proposals for potential clients.
  2. Servicing current clients via coaching and consulting.
  3. Continued research and study in my area of expertise.
In terms of measurable, income generating results --- everything else I do takes a far backseat to those 3 activities (even writing on this blog).

As another example, consider a salesman.  Their top 3 might be:
  1. Prospecting.
  2. Giving presentations.
  3. Making follow-up contacts to leads.
One more example - a dozen man online retail operation.  For the head honcho, the top 3 might be:
  1. Making deals with suppliers.
  2. Making deals with distributors.
  3. Managing and motivating the salespeople.
If you aren't super clear about which activities you
do that really make you money ...
you'll go broke as an entrepreneur.

Because you'll spend your time doing things that seem productive, but aren't productive...

TAKEAWAY:  You've got to know, without a shadow of a doubt, what the top 3 daily tasks you engage in that actually directly produce results that create your income.

ACTION EXERCISE:  This is very similar to yesterday (it's that important).  Figure out the top 3 tasks you're engaged in that generate the bulk of your results, and thus the bulk of your income.  Refine your daily schedule so that you invest more time in those 3 tasks.  Reduce, delegate, or eliminate the other tasks that take away from your top 3.

To Your Enduring Success,


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