As entrepreneurs, we often have the “next shiny object syndrome”. You know, you see the next good idea, the next whiz bang thing that will make your business run more efficiently, the next technology doo-hickey that your friend in your networking group is using to bring in new customers. And off we go, adding it to our already busy schedules to implement. And the next thing you know-we are overwhelmed with the amount of things we try to keep going, or to keep up with bringing in new customers.
Don’t get me wrong-innovation and implementation is crucial to growing your business and playing a bigger game. But when was the last time you took a really hard look at all the things that are on your to do list through the lens of what things are really making you money in your business, and what things are just activities that you are hoping will bring in money? Many of us have things we’ve been doing in our business for quite some time that has never brought in a dime.
So, what are some of the things you are doing in your business that aren’t bringing in money?
- Do you have packages or products that don’t make money for you?
- Are you spending time in groups or associations that have never brought you a client?
- Are you sending out e-mails or notices to potential clients that have never brought in money?
- Do you have clients on your e-mail marketing list that haven’t opened an e-mail from you in over three years?
- Have you been “chasing” a client for a while who probably isn’t even your ideal client?
I strongly urge you to take a look at all areas of your business and figure out what activities you should STOP doing that are taking your time and effort but aren’t bringing in clients and money.
Then look at the things that are working for you and figure out how you can do more of those kinds of things. What are the activities in your business that are bringing you the most clients and the most money? Because if you aren’t focused on the things that are bringing you money, and spending your precious time working on things that don’t bring you money-you will never be able to grow your business to the next level.
Here’s an exercise for you…
Take a sheet of paper and draw a line down the middle of it from top to bottom. On one side of the column label it Makes Me Money, on the other side write Does Not Make Me Money. Then take a look at your calendar for the last two weeks (or four if you want extra credit!) and look at what activities you’ve done every day and put them in the appropriate columns.
When you’ve looked over your activity for the past two weeks and sorted it into the two columns, take a look at your Does Not Make Me Money column. What activities in that column can you STOP doing? Which of these have never made you money and probably aren’t going to? Then look at the Makes Me Money column and figure out how you can create more of those things in your daily calendar so you can start bringing in a lot more money immediately!