Posted on 08/30/2009 10:53:53 PM PDT by 2ndDivisionVet
Over the past 30 years, I've read so much on how to make money that I know I can write a series of books on the topic, books that would cut through the junk and you don't have to buy 101 things for each area.
Most of the information repeats itself -- same author, different title and packaging or different author repeating someone else’s list. All the how-this and how-that was driving me crazy as to what is REALLY required to make $100,000 or more in revenue.
A few months ago, I decided to go on a pilgrimage to create a quick and easy-to-see, all-in-one-place list of what does it REALLY take to generate a six-figure income as a service professional -- accountant, coach, consultant, and other solopreneurs? Of course, the list is easy to read, but takes conscious awareness and consistency to achieve.
What this list did for me -- it freed up valuable time that I was chasing for what I could possibly need in the future, it kept me focused, it increased clarity, and best of all I was able to narrow down my reading time. I also had a plan. Here’s the list of what I consider the top 50 -- the list was actually 350 -- but I chose the top ones and removed the repetitions.
1. Get up early and start early.
2. Take time to reflect on the day every evening for at least 30 to 60 minutes.
3. Create a vision before getting out of bed every morning on how you see the day progressing. See clients coming to you, see meetings going perfect, see your planning, etc.
4. Start and diligently use a business journal to record ideas, thoughts, suggestions, and reading/learning.
5. Dress so that you feel comfortable and powerful with your energy. It radiates and attracts.
6. Work more hours. (Don't shoot the messenger.)
7. Schedule your time.
8. Always ask yourself every night, "What can I do better tomorrow from what I learned today?"
9. Complete a one-page SMART business plan with a professional so that they can have an aerial view, because you're too close, and because you are paying them, they have an investment in your success.
10. Complete a one-page SMART marketing plan -- ditto the above.
11. Complete a one-page SMART sales plan – ditto the above.
12. Complete a one-page SMART project plan – ditto the above.
13. Complete a one-page SMART service product plan – ditto the above.
14. Complete a one-page SMART product plan for every product BEFORE starting.
15. Always know your BE point (break even point) for every project/service/product you do.
16. Separate your learning time out from the time you think you are marketing.
17. The best sales call hours and days are Tuesday – Thursday between 10 am and 4 PM.
18. When you want to reach the business owner, try calling them before 8 am or after 5 PM.
19. Passive revenue generation products are required.
20. Have a strong business support system.
21. Either be a writer or speaker to promote.
22. Become technically proficient at the software you use (not expert, proficient).
23. Post to-do lists daily.
24. Monitor your time as if it’s gold.
25. Have back up plans, alternative solutions, to everything.
26. Learn to say no and say it quickly when it isn't currently in your focus.
27. Have a twice-a-year planning vacation with yourself.
28. Outsource anything that can be completed by less hourly than you.
29. Leverage all your resources as much as possible.
30. Drop networking groups if you aren't getting leads, don't hang on.
31. Leave the volunteering alone until you have made the 6-figures, people will not listen to you anyway until you are making that level or more anyway.
32. Don't allow technology to steal your time.
33. Sleeping in.
34. Spending your energy talking about X instead of taking action on it.
35. Write your goal dollar amount on the biggest piece of paper you can find and take it to the wall in front of you and ask this questions to every to-do on your list, How will this make me that figure? Is it short-term, mid-term, or long-term money generating project.
36. The percentage of time you spend on short-term projects will determine how much money will arrive sooner. Percentage of time = when the money comes in.
37. Keeping irregular office hours doesn't help.
38. You can grow only as big as the fish bowl you are currently in. If you want to grow, move to a pond, then a lake, and then an ocean. The fish will get bigger as you go until you are the whale in the ocean.
39. Only read and learn what you need now, all else is a waste because it will change to quickly by the time you need it.
40. Work with a good coach, one with years of experience in what you want to accomplish.
41. Become proficient at creating revenue-generating products.
42. Have a system or process for everything.
43. Work with a Virtual Assistant as soon as possible, even before you think you can afford to. In actuality, you can't afford not to.
44. Create strategic alliances -- people that you are very aware of what they do, how they do it, how good they are, how you can send them referrals, you them yours, how you work together on joint products to creating something that is powerful and can't be found anywhere else.
45. It is a numbers game. If you want 10 new clients a month, you have to speak to 100 to 300 prospects a month and you have to have the means for doing this set up in a process that works smoothly (otherwise overwhelm will be your partner).
46. Set mind-boundaries. When you're working, your mind is 100% there, when you're home, 100% there. The more they cross, productivity drops 50% or more.
47. Finish what you start -- always. Half finished to-dos at the end of the day creates an energy debt that carries into the night. The payment for this is very great. Don't write on-going goals on your list. Create a to-do list that only fits into the time you have for that day. The to-do can be mini for a larger project (that is listed in the one-page project plan mentioned earlier).
48. Create an R&D team for every project.
49. Don't buy anything unless you have use for it now. Be in the now with your buying and not the "some day I'm sure to use it."
50. Go on a 30-day information diet to reprogram your focus, learn to listen and get in touch with your higher self and knowledge, and to increase clarity of your life, business, career, and self-path.
bmflr
Ping for later reading.
What is SMART? I saw it mentioned repeatedly, but I haven’t heard of it.
Child, please. Early risers tend to be poseurs and/or clerks, particularly those who posit early rising as a key to success. The authentically brilliant stay up late and sleep late.
Actually - some worthwhile tips in here. (And some not so much - for me anyway.)
SMART is an acronym for:
Specific
This is the foundation of your plan. You will need to have a good foundation for your business plan. Without it, your whole business could tumble and fall. You might want have a plan to stop working in a job. But a specific plan would say you want to quit that job in 1 year’s time. Then you have something to aim for. Or you might say you want to earn money online. But a specific plan says you want to earn $100 per day and you want to reach that goal within 3 months.
Measurable
Here you need to have set a time scale to your specific plan. Remember that if you don’t reach the goal within the time scale, you can move the time scale or change the goal. Don’t quit just because in 3 months you are only earning $90 a day and not the $100 a day. Quit and you will never see the goal achieved.
Actionable
Action is always needed to see a goal fulfilled. It doesn’t matter what the goal is, unless you plan and take action it will never, ever happen. All our goals are different, and you shouldn’t be concerned about having a goal which is less than someone else’s goal. The best thing about this type of business planning is you will keep making goals. You might say this week I want to earn $100 and to do that I am going to do xxxxxx. When that is achieved then you can rewrite the goal and also the action needed.
Realistic
Being realistic is something a lot of IMer miss. I have seen many people saying that they haven’t earned any money online. Some will say they need to get money, yesterday. And they suddenly have a goal to raise $100 in a short time. If they are unable to raise any money then, this target isn’t a good goal. They might be able to do it, but it is better to be realistic when it comes to setting your goals. Don’t be like them, be realistic as you build your business plan.
Timed
This will be excellent training for you. You need to set a time for seeing your goals achieved. As a writer I have to manage my time and give client’s deadlines. I have to know what I can achieve in the weeks ahead of me. Again this is something you will learn as you go along. You might think you can write 40 articles in a day. But then you realize that each article takes 30 mins to write. That means you need to spend 20 hours writing these articles. 4 hours left for eating and sleeping.
“I will sell this house today! I will sell this house today! I will sell this house today!”
Worthless, for the most part. At least where I’m coming from.
Find a school of hungry fish and feed them. (not my words)
You have a great business idea but you will need a large school of hungry fish, or you will only waste time. Who cares about your great idea if no one cares about your great idea? Find a need first. People only care that you ‘love what you do’ if they need you to DO IT FOR THEM.
You have a great business idea but you haven’t spent but a few minutes figuring out how you’re going to get to the hungry school of fish. If you can’t ‘get the word out’ then give it up, you won’t make a dime. Well, maybe a dime from a family member or friend.
If you are a local, need-based, service company then you had better get a website ranked high in Google within your service area. You are likely missing out on lots of phone calls.
For what it’s worth.
Yeah, my stocks would do really well if me or my broker slept in until Noon every day.
Do I really need a < / sarcasm > tag?
Good points. Noted for future usse.
Wouldn’t it be a lot easier to work for the government or the teachers’ union?
What could is having 20 to 40 more if I have to do all that crap? Going home and snuggling my baby daughter is more rewarding.
Rule 51: Do not employ trendy-yet-idiotic neologisms like “solopreneurs.” They make you sound like a vacuous ninny.
Thanks for explaining that. I pretty much do that anyway, but it is a good acronym.
bm
Wow, thanks
Save for later SMART
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