3 Easy Steps to Changing Your Mindset and Making Money
When people have a failing business, productivity is one of the main points they try to improve. While productivity is an essential part of a successful business, it shouldn’t be the main focus.
There are plenty of failing businesses that are very productive. So how are these businesses productive but not successful? That’s because productivity is not as important as you may think. A business does not run solely on productivity, it runs on profit. Remember that it doesn’t matter how productive your business is if it’s not profitable. The main problem with productivity is that people will have productivity without focus. They are just being productive for the sake of productivity. They aren’t accomplishing anything. When you focus on profitability, it is impossible to do nothing. But, changing your business on profits instead of productivity isn’t an easy task. Or is it? Here are the three things that you need to do to focus on profits over productivity.
1. Determine what you want your income to be
The first thing when making any sort of plan is figuring out what you want to do. The same applies here, you need a goal. The goal in this case is your dream income. Once you apply these three things, you will be well on your way to achieving that goal. This step is the simplest of all three. Figure out what you want your dream income to be. Don’t hold back, this step is simple but it’s an important one for the next steps. This is because there are activities in every business that generate revenue. There are activities that will give you a $50K per year business or $500K per year business. These activities are revenue-generating activities and should be the focus of your business.
2. Spend the time to identify the activities that generate the necessary revenue
The activities in your business that generate revenue are revenue-generating activities. While that seems obvious, you’d be surprised to find out how many businesses don’t focus on these RGAs. As I mentioned before, there are activities that make $50K a year or even $500K a year. It’s up to you to find out what those activities are, specific to your business. Think of it this way. Let’s say that you have some time at lunch. You can either go on social media, or you can answer some follow-up emails. After work, you can either go to the laundromat or you can take some time to connect with clients. There are activities that generate revenue and activities that don’t. So now it’s time to find out what the revenue-generating activities for your business are. Once you’ve taken some time to find out what makes the most revenue for your business it’s time to move on to the third step. Doing those revenue-generating activities.
3. Do those things
Now you’ve found out what you want your income to be and what you need to reach that income. All that’s left is to start doing those activities. By doing those activities I don’t mean to continue to do them, you need to do more of them. Even though the RGAs only take up a fraction of what you do, they should take up 50% of your time. So how do you give yourself more time for these RGAs? The last thing that we want is for you to work more than 10 hours a day. That won’t lead to an increase in profits, it will lead to an increase in exhaustion. So how do you gain time without overworking yourself? You don’t just find out what you should be doing more. You also discover what you should be doing less. Take what you don’t need to be doing and stop doing it. Even though you may feel productive while doing those things, that’s not the point. The point is to generate revenue. So, if something doesn’t generate revenue, don’t spend as much time on it or cut it completely.
Trying to become more productive is one of the main ways that people try to save their business. But, most of the time people are going about productivity the wrong way. This is because they are focusing on productivity instead of profits. The most important thing to remember is to focus on what generates revenue for your business. You can’t take productivity to the bank, but you can bring them profits.