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“Work ON Your Business, Not IN Your Business” Michael Gerber, Author E-Myth

1. MONETIZE

You are in business to be successful. Don’t let your time go to waste. Make sure you are doing at least 3 targeted things or 1 big moneymaker every day to bring in money. Assign Accountability to jobs in your business and track your tasks by 15 or 30 minute increments. Have your staff do the same. You will be amazed to see how much time is actually put into money-making activities and how much time is wasted every day on fruitless meetings, spacing out, and unproductive tasks. Focus your team and yourself to focus on monetization. Without income, your team won’t have a business to run.

2. GET SALES

Pick the low hanging fruit. These are the easy targets, the add on sales, the referral clients. Grab onto the sales that can be easily converted….and convert! Make packages with discounts to lure in longer term contracts. If you offer a service like personal training, massage, chiropractic, coaching or even consulting, you can package your service by projects, monthly and 6-month contracts to keep the income flowing while you grow your business and monetize more.

3. GET NOTICED

“Doing business without advertising is like winking at a girl in the dark. … If people don’t remember your advertising, you are wasting money,” …Network, Advertise, send out Press Releases, post a Blog, follow up with leads, send email blasts, etc. Spend at least 10% (ideally 20-50%) of every week on marketing. Track results to make sure your money is well-invested.

4. HAVE A SOUNDING BOARD

As a business owner, you need an experienced sounding board to help you work through the many issues you will face. Find a mentor with real experience in your field, hire a successful business coach, contract a proven consultant. Get advice from people with experience to help you…not your neighbor or your employees. They may be trying to help, but without real knowledge, they are just shooting in the dark. Isn’t it worth giving yourself and your business a good sounding board?

ASSIGNMENT for next 5 days

1. Track your time for 5 days by 15 or 30 minute increments. Review your Time Tracker: Where are you actually making money? Where is time being wasted? What can you change to make more money?

2. Write a list of your low hanging fruit, i.e. sales leads that are easy to close. What one call can you make today to make more money? Make at least one low hanging fruit sales call each day for 5 days.

3. Write marketing things can you do in the next 5 business days to get you noticed by your target market. Networking event, email blast, press release, letter to the editor, advertisement on radio, follow up calls, etc. Track your results.

4. Write out the 5 key traits of who you would pick if you had the perfect sounding board. What skills, experience, advice can they provide for you. Look at your list and see if anyone you know or have heard of fits those skills. Then contact them. People love giving advice. Still struggling, call our office to find an expert at 858-41-ASSET.