Many business owners get confused as to where the money is going to come from. There are 5 different income streams and they all require different strategies to get the ball rolling:
1. One-On-One clients – Weather you connect with your clients face to face or on the phone, you are trading time for money as your clients pay you by the hour (or however you structure your billable time). That for a beginner is usually priced very reasonable as while the practitioner gets well known in the community (online or offline) this is the main source of income. (more…)
If you’re anything like me, you’ve wanted to be more efficient in your
business. I went through a phase where I was analyzing every little
thing I did to make it more efficient. The trouble was that I didn’t
look at whether the task even mattered before streamlining it. I’ve
since developed the EASE checklist to know whether I should even
continue as action, let alone make it more efficient.
Effective Is this action effective? Does it get me the results that I want?
If not, this is not an action to streamline — it is one to STOP
doing! Now.
Concentrate on doing the right things before doing things right.
Appropriate Is this action appropriate? Does it fit with how I want to be
perceived?
It doesn’t matter how effective an action is if it doesn’t fit your
image and your values. No matter how cheap and easy it would be to buy
200 million email addresses a business will never be the same once
people label it a “dirty spammer.”
Sustainable Is this action sustainable? Can I continue doing this indefinitely?
Every business has a limited amount of resources: time, money, energy,
etc. If this action takes more time than available and would cost more
to have a VA do it than will be made in return it is not sustainable.
Becoming efficient at running a deficit is a recipe for disaster.
Efficient
Now ask how can I make this action more efficient? What can I
eliminate from this action and get the same results?
And that is the challenge: maintaining the effectiveness,
appropriateness, and sustainability as we “trim the fat” from our
business activities. Because who really wants to be efficiently
ineffective?
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