Your business will only make money if you are focusing time, energy and attention on moneymaking activities. I know that sounds logical but many of my coaching clients have a difficult time truly understanding the difference between moneymaking activities and "busy work."
Here is my definition of moneymaking activities: Those activities that produce immediate, short-term or long-term income producing results. These are the activities that will put money in the bank.
Here are seven moneymaking activities that should be a part of an average workweek:
1. Actively marketing your business, product and services.
This means speaking to organizations, having an updated blog and website, using social media, meeting new prospects, etc. Marketing is the ability to get your service or product in front of your target market on a regular and timely basis. Without marketing you don't have sales and without sales, you don't have income.
2. Follow up with new prospects.
The gold is in the follow up! You can market day and night, but if you don't do the follow up you're wasting time and energy.
3. Personal meetings to discuss your product or service.
Many businesses require personal meetings to prospect, demonstrate, product explanations, etc. These meetings can be conducted over the phone or even via Internet. If you can demonstrate or explain to many people at one time, so much the better. With technology such as Skype, tele-conferences and webinars you can often have the same positive effect as in-person meetings.
4. Asking for referrals.
Spending quality time asking for a referral can be one of your best tools for finding new customers. In order to receive a qualified referral the person giving you the referral must first know you, like you and trust you. The best referrals come from established relationships - networking, past customers, friends, etc.
5. Networking and meeting new people within your target market.
This should be a regular part of your marketing plan. Where will you find your target market and how can you get to know them? There is social media (computer) and there is human interaction - if you study the most successful businesses, they regularly do both.
6. Developing passive income.
Passive income is income that continues to come in even as you're sleeping. Sales from products on the Internet, rental property, royalties on music or books are all examples of passive income.
7. Working with current clients to ensure great customer service.
Time each week should be devoted to follow up with current customers and clients. The best companies have excellent customer service. Do you make "care calls" or send care emails? Are you making sure your customer is using your product effectively? A satisfied customer is a great source of referrals and future business.
Can you see how dividing your workweek into moneymaking activities will increase business and make you more money? How do you spend your moneymaking time?
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Sharon Recommends
I'd like to recommend my Kindle ebook How To Keep Yourself and Your Business On Track. The empowered woman's guide to staying focused on your money making goals. Here's a direct link: How To Keep Yourself and Your Business On Track (Women Empowering Women)
I'd also like to recommend another Kindle book I authored, How To Create The Mindset of Prosperity and Wealth - The empowered woman's guide to developing and enjoying an unstoppable moneymaking attitude. Here's a direct link: How To Create The Mindset of Prosperity and Wealth (Women Empowering Women Series)
I am an affiliate of Amazon.com and if you purchase these books through this link, I will earn a commission as the author and as an affiliate.
