If you are like most people you run your life off of some form of a ‘to do’ list. It’s a great way to prioritize and stay focused on what needs to be done in a day.
It is important to understand what is on your to do list though, especially as it relates to your business. I have found that for a lot of people there are some vital things missing and it can have a huge impact on your business.
The main thing to understand is the difference between tasks and income generating activities.
Tasks are those things that you need to get done for current clients and projects. They are vitally important to your business, but they do not bring in new money. They may allow you to complete a project in order to get paid, but they are for clients that have already committed to working with you.
Income generating activities are those actions that bring in brand new business. This includes things like marketing, networking and staying in touch with past clients.
The trick is that once you get busy with clients its easy to spend your days focused on tasks and forget about income generating activities. Tasks are important, but focusing on tasks is what creates the feat or famine cycle in business. You do the tasks until the project is done and then, realizing that you don’t have any more business, you focus on generating income. And the cycle continues.
Here’s how to beat the feast or famine cycle that so many struggle with.
Each day list your top 5 activites that you want to accomplish. Make sure that at least 1 of them is an income generating one. It doesn’t have to be major. Sometimes just a quick 2 minute follow up call to touch base with a prospective client can make a huge difference in your business.
Try this for 30 days and you will be amazed at the amount of new business you have!
To your success!