Time Is Money Spent

I have been watching a lot of Grant Cardone recently who is a strong proponent of getting the most out of your time, based on the goals you have set for yourself. Last week I had a water heater go out in my basement, and thought I would spend the day fixing it to save a little money. However, I am not a plumber. Plumbing is not my profession, so why would I be a plumber for a day? So instead I called a plumber in Mt. Juliet, to buy my time back for the day. Listen, I run a business from home and can make more progress towards my goals as opposed to procrastinating for a day to save a little money. In the long run, I will be much closer to the financial success I have been moving towards in order to meet my goals.

Learn How to Manage Your Time

Let’s say for instance I decided to fix the water heater as opposed to having the plumbing company in Mt. Juliet fix it for me. I would have spent the entire day trying to learn how to actually fix the problem and would still need to repair the water heater. This wouldn’t be a guarantee by the way. I might have to even spend the next day on repairing the heater. The solution here is to hire out what you can, in order to stay on target with your goals. This may be counter-intuitive to some, but it is how the greats have stayed on target for meeting their yearly goals.

Map Out Your Financial Path

In order to execute a successful outsourcing process, you need to know what resources can be set aside for expediting the process. In this case, you will need to have a financial budget for hiring out jobs that are tedious or simply don’t make sense for you to do, such as the plumbing example. Be sure you have income coming in so you can set your sail for success. Soon you will find a tipping point where there is much more revenue coming in due to your time management. You will be knocking out your goals much faster than expected which will allow you to set larger more aggressive goals in the future.

Don’t Be Afraid to Take Risks

Of course, everything has risk associated with it. You cannot be successful without taking a little, or a lot, of risk. This is where you will learn from your mistakes. Have you heard of the saying, “fail forward”? This is exactly what you will be doing.  One must fail forward enough times, adjust accordingly, and align with a better plan moving forward. The more time you fail, the closer you are to success. Taking risks are all about learning a more successful process to fulfill your future goals. So don’t let people talk you out of failing forward. If you do, you will always be on the level in some form or another. Be sure to take risks along the path, this is where true growth comes from.

 

Staying Motivated

We all need motivation. I need it, you need it, the world at large needs it. Motivation is a key element to pushing through the rough times when achieving suc6290346538_2916b5d8d1cess. There are few disciplines that are absent of motivation. My good friend Terry told me, “on a fundamental level, everything we do in life that requires action, also requires self-motivation.” Terry is a successful entrepreneur, running roofing company outside of Miami, his website is roofingjupiterfl.com.

A to-do list is often the first thing folks decide on doing when they feel the motivation bug however oftentimes people will us this action to “feel” as if they are actually being productive. This is very dangerous when you need measurable results because in this case, action on the to-do list is still necessary. If you deplete your motivational abilities upon assigning a to-do list, you are working against yourself. Most people don’t want to admit that their fuel tank is only sufficient enough for a to-do list. So what are some actionable steps we can take to ensure progress is being made?

  • accountability partner
  • measurable progress
  • checking off the to-do list (this is a big one)

Accountability partners can be great if you are working with someone who is an actionable individual. Look for someone who is expeditious and hard nosed enough to call you out on your docility. You need accountability so don’t work with someone who will not put you in your place when necessary. These people are usually at the gym, or walking around on their phone with a glazed look on their face because they live in an alternate universe than yours.

Measurable progress equates to numbers that can be plotted and graphed. Using the gym analysis as an example, if your to-do list says “run 10 miles a day”, then you know exactly what you need “to do” in order to meet that goal. This can be applied to any area of you life that you wish to see increased production. Applying numbers to your progress can dramatically increase the compounded growth if effectively utilized. I highly recommend it if you want to see real change. Never underestimate the power of mathematics and how it can effect your perception. There is no faking the numbers.

The most important factor to this motivational post is “checking off the to-do list”. Yes, ladies and gentlemen, progress comes down to consistent action. Consistency will push you past the docility and straight into the production of things. The key here is constant action, everyday. If you take just a fews steps each day, you’ll walk a mile. Most people get hung up on the big picture and cannot trudge past the difficulties of accomplishment. Remember, a few steps go a long way. These few steps, each and everyday, will catapult you past your competition in the long run. Don’t be intimidated by the big picture that will force you into a corner. Focus on what matters most, put your head down, and keeps moving forward.

A step at a time.

Be Adaptable

What does success look like to you? You need to figure this out, reader. Are your goals so lofty that you cannot achieve them? If that is the case you may want to scale them down a bit simply to start hitting your goals and build traction. A friend of mine recently quit his full time job to start his own plumbing company. Brentwood Star Plumbing was created in order for him to start hitting his goals of becoming his own boss with his own crew. This was a financial risk he was willing to take in order to meet his larger goals of becoming a business owner. His story is that he starting out in a company, learned the trade and adopted what he learned then took it to the market place as a service provider.

I’ve talked with him since and he is bring in more business each month consistently and looking to expand into more locations in his marketplace. This is a huge commitment, but the fact that he was committed enough to quit his job to create his own business shows that he is committed to hitting his goals.

How is being adaptable have to do with Brentwood Star Plumbing? The marketplace is different then what it was 10 years ago. You can literally do all of your marketing from you computer at home now. With services like thumbtack and other social service provider websites, you can start picking up clients in your local area immediately. This is huge for someone who has goals pertaining to financial independence. Social media marketing has changed the game. Google adwords enables you to target your buyers by the service they need, instantly. The time it takes to take a product or service to market can be achieved ten times faster now, than the time it took 10 years ago.

The companies that are adapting to the market and adopting these new marketing strategies will be the new leaders in the industry. If you don’t adapt and adopt, you don’t survive. If you are in a position where you can adapt to new marketing campaigns, you need to go ahead and start learning the platforms. Invest your time and energy today so you can be ahead tomorrow. Don’t take online marketing for granted and look at it as just a trend that will go away. If you are in this mindset you need to make a major change in your business philosophy because society is being built on the platforms.

Setting Goals

How many of you are in the mindset of setting goals for a specific project? If you are like me than you love setting goals but have a hard time actually meeting those goals. I’ve literally set easily achievable goals, ink to paper, just to push them aside while I think about how I will reach these destinations. It is the most frustrating thing in the world. When you are a struggling entrepreneur you cannot leave your goals unfilled and be successful in the marketplace. It just doesn’t happen. The equation simply doesn’t add up to success.

A friend of mine was working a 9-5 in for a large plumbing company for 5 years. He had dreamed of one day building his own plumbing business and quitting the Lee company. Last week, he quit his 9-5 and started taking service calls on his own. This was a major game changer for him as now his financials were entirely up to him. That consistent paycheck is now long gone, never to arrive in the mailbox again unless it is written to his company. He has goals, million dollar goals, and it will be up to him to create the necessary actions to implement a sales strategy. This brings me to my next point – strategy. Okay so for now on, we cannot just write our goals down and get that giddy feeling of being productive without any activity beyond the pen to paper. We need to take action which comes down to building a strategy around our written goals. This could be as easy as adding one extra line to the goals sheet.

Example:

  • Goals this week: make 10 calls to local business’s in need of my service every day. End of week amount: 50 calls in total.
  • Strategy: Before I attempt anything throughout the day, I MUST call 10 business’s.

This is a very fundamental example but it makes my point clear. Reinforce your goals with actionable steps (even if that is as little as on extra line). This may just give you the extra push to starting attempting to achieve those goals.

I hope this helps whoever it reaches. You can send you results to me here. I would love to hear about it.

Lead Value

How do you discover the value of a lead? It must all depend on the industry or course. The value of a lead is dependent on the product or service being sold. Lets say the product being sold is $100 dollars and the seller will close 1 out of every 10 leads. The lead value of the call who equate to $10. This isn’t factoring in the profit margin but it gives you an idea of lead value if you were pithing a prospect.

Generating leads is an absolute must if your business survives on leads. Revenue comes in many different ways and you need to take advantage of all steams of revenue in order to stay afloat in a competitive marketplace. Be willing to take risks with to streams of lead generation. Whether its with youtube, social media, or paid advertising, you can do the math to enable a successful lead campaign.

What are your margins? Before you can successfully map out a lead campaign you need to know your profit margins. Lets say you are interested in running Adwords for your personal training company. Each client you have produces you monthly revenue of $100. The lifetime value of your client will be 6 months at $100 per month equating to $600. You should be willing to spend at least 20% of the lifetime value of that client in order to bring him on board. Once you know your numbers you can scale your business and meet the goals you set based on your profit margins.

Turn your goals into math equations. This gives you measurable data to work with that can easily be understood when translated into graphs for your partners. Use the data to your advantage and adjust accordingly for profitable returns.