Dec 13
2
Are You Wasting Your Time?
Are You Wasting Your Time?
by Bob Clarke
If you’re a part-time marketer, what I’m about
to say is no big secret…
TIME is your most precious asset.
In fact, I devoted an entire article to the subject of time in
a previous issue of WWN – figuring out how much free
time you actually have, where you’re leaking productivity,
and even some ways to free up more business time in
your day.
Cool stuff, but now let’s talk about what really matters
when it comes to time and your business – how you’re
using the time you have.
Let’s Set The Stage
Let’s be sure we’re on the same page when we’re talking
about time.
First, we all have limited time for our businesses.
You can’t use that as an excuse.
It’s too easy.
Some of us have traditional jobs or careers that take up
much of our time, some have a house full of kids who
need our constant attention, still others have elderly
parents to care for.
We all have “stuff,” so forget the whole “I’m only working
my business part time” excuse! It doesn’t fly.
Straight talk, but you know I’m right.
While we’re talking straight, how about this…
“Working” on your business does not equal making money!”
Here’s the cruel truth when it comes to marketing your
business – the Easiest tasks to perform are usually the
ones that will keep you Broke!
Checking emails, spending time surfing on Facebook,
watching videos on Youtube, and even attending
webinars are Easy because they’re mostly passive and
fun. They don’t require you to get out of your comfort
zone. They also don’t make you money.
And as one of my mentors likes to say…
If you’re not making money, you don’t have a business.
Very direct, I know. and also very true.
With this in mind, let’s talk about what activities are
important for your business!
Income Producing Activities (IPAs)
Income Producing Activities are the lifeblood of your business.
Simply put, these are any activities in your business, which
Directly make you money.
If you’re not sure if what you’re doing is considered an
income Producing activity, ask this question…
“Will what I’m doing right now possibly make me
money TODAY?”
If the answer is no, then it’s not a true IPA.
Here are some examples of Income Producing Activities:
● Picking up the phone and calling a prospect
● Hosting a hotel or house party featuring your products or opportunity
● Getting someone to an online business presentation
● Promoting anything where something will be sold
● Doing an online webinar where an offer is made
What are NOT Income Producing Activities?
● Spending time obsessing about the look of your blog
● Wasting hours editing videos/blog posts to make them “just right”
● Looking for Facebook friends or trying to get people to “like” your page
● Attending training webinars
You get the idea – anything that has the real potential of
creating sales is considered an IPA. Fiddling with the
minutia of your business that has no chance of bringing
money into your business today is not.
But what about the last one on my “not an IPA” list?
Surely, training is important! Yes, it is. and there is a
time for it.
For most, however, attending a training won’t generate
any income in their business today, tomorrow, or even
next month.
That’s because the majority of people don’t
implement what they learn in trainings.
But that’s a story for another day.
Relationship Building / List Building
Building relationships and building your list are Essential elements
for any business. We all know that people do business with those they
know, like and trust. Why do you think that MLM companies tell their
new reps to hit up their warm market first? It’s because there’s a
trust factor involved.
Building trust only comes from nurturing relationships
and keeping your word.
The best way i know to build relationships is to offer help
in solving other’s problems.
People want solutions more than anything else.
If you can provide those solutions, you’ll earn their trust.
The good news for newbies is that you don’t even need to have
the knowledge yourself. By simply pointing others to the
information they seek, you’re providing them with a valuable
service and they won’t forget that you helped solve their problem.
As for list building, this is one of the most important long-term
activities of your business. If you don’t have your own list,
then your business is at the mercy of those who do.
Teaching you how to build a list is beyond the scope of this article;
in fact, a search through the archives of What’s Working Now will
provide you with all the information and training you need.
Suffice it to say that nurturing relationships and building
your list is time well spent!
Education and Personal Development
Learning a new skill, such as a particular method of lead generation
or how to prospect on the phone, is an excellent way to spend your
time and money. When you add another skill to your marketing
tool belt, you’ll not only make more money in your business
(assuming you implement what you learn), but you’ll also increase
your value to others who are struggling.
I urge caution, however, when it comes to online training.
With so many options for training available to you, it’s very easy to trick
yourself into thinking you’re working on your business, when in reality,
you’re stuck in the cycle of learning without implementing.
Attending a training is passive and rarely takes you out of your comfort
zone. Taking action on something newly learned often makes you
uncomfortable. It’s also where the money is.
You’ll also need to devote some of your time to mindset training and
personal development. This is especially important for those who don’t
naturally think like entrepreneurs.
Making the mental shift from employee to entrepreneur is difficult
for most people. It’s also essential if you want to have a stable,
thriving home business.
Don’t neglect mindset and personal development.
It will be a mistake that you’ll pay for over and over.
The Bottom Line
Here’s the bottom line when it comes to allocating time
for your business – it depends.
I’m not ducking the issue or deflecting the question.
Rather, how you spend your business time will depend
on You and your stage as a marketer.
If you’re just starting out and you’ve never owned a business
before, you’ll need to focus more strongly on mindset and
personal development than someone who brushes aside
rejection and has been around entrepreneurs all their life.
Similarly, if you’re brand new you’ll want to spend more time
learning skills and ways to promote your products,
as compared to someone who’s mastered some skills
and has been in the game for a while.
So while I can’t give you a standard answer for exactly how
to spend your limited business time, I can tell you this…
If you’re not spending the majority of your time on
Income Producing Activities, you won’t have a business very long.
Your business needs cash flow to survive.
When making your daily “to do” list for your business,
put IPA’s right at the top, to be done first. Then fill in activities
that make sense based on your level of experience.
Bob Clarke
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From December 2013 what’s working now 23
Special Feature II
Dr. Bob Clarke coaches and trains network and Internet marketers struggling to build their businesses “on the side.” Oh yeah — he’s also a highly trained reproductive scientist in his spare time. 🙂 You can contact Bob or get more of his training at http://BobandRosemary.com. While you’re there, be sure to grab his hugely popular training, “How to Build Your Business in 2 Hours a Day or Less.” It’s awesome!
