It was a business changing moment when I overhead one of my young triplets Matthew say to a friend “oh that’s my mom. She’s always on the computer” That innocent comment was like a hot knife slicing butter, slashing my heart. How right that little boy was. It kick started an examination of my business. Being self employed I was able to analyse each type of work I took in, rate it by how personally pleasurable and profitable an activity it was. By 10am the next morning I had a whole new focus of only accepting and developing business that was the most profitable and pleasurable to do.
How do you apply this principal to your business (and personal life)?
What are your activities now?
Write down all the things you do. Then score each by how passionate you are and how pleasurable an activity it is. Next rate the income production activities by how profitable they are. Pleasurable/ passionate has to be part of the equation as life isn’t about money alone. For example a self employed mother would find a better use of her time marketing for new business as opposed to cooking dinner. But if cooking gives her pleasure, it’s an activity that stays.
Focus Your Marketing
It’s easy for small businesses or the self employed to make changes swiftly. What about retailers for example?
Rob Bruce, owner of Blenheim Furniture2go has a marvelous attitude. “In the current market we’re not selling so many $2000 lounge suites, but $4,000 ones are moving. We look at sales, and tweak our focus. Beds vs. lounge suites. Targeting the catalogue mail drop to certain neighbourhoods.
Alliances for work you turn away
You always want to be helpful so try to build alliances with other companies in your industries that are happy to take on that work. You might even be clever and negotiate a little clip of the ticket.