Being entrepreneurs, we have the opportunity to become infected with the Shiny Object Syndrome bug. I like to call it Entrepreneurial S.O.S. (get it, Shiny Object Syndrome).
For people who work for someone else, our expectations are there, our structure is there. It’s clear if we produce, we keep our job, if we don’t produce, we don’t keep our job.
However, for those of us who punch our own time clock, discipline is a necessity. Be very clear on your vision and be very clear on how you’re going to obtain your vision and take action on your vision. That clarity and that plan help to set you on the path to success.
It’s never too late to start. Yesterday is always a day behind you and tomorrow is always a day ahead of you. Every day you wake up is today. Today is a new day and you get to rewrite your story.
No matter where you are, take action!
Time is our most coveted resource.
We’re all CEOs – Chief Everything Officers. You might sit there and say, “I’m not a CEO, I don’t have a business”. But, you are. Even if you’re a salesperson, you do everything. You process your orders, you do your paperwork, you take out your trash. Fill in the blank. We are all in different capacities and at different levels, CEOs (Chief Everything Officers).
Time is of the essence and time management is essentially important. The more you want to grow, the more you’re going to do. The more you’re going to do, the more you have to do.
The ⅓ Rule
A few years ago a learned a secret. You should operate your business using the ⅓ Rule.
What is the ⅓ Rule? It’s a pretty easy concept to understand. When it comes to your business…
Focus ⅓ of your time on business operations. Doing your business.
Ex: for a mortgage lender, this is going out and searching for the best rate and getting the client approved.
Focus ⅓ of your time on the administration of your business.
Ex: That’s the emails, invoicing, filing, etc.
Focus ⅓ of your time on the marketing of your business.
Ex: Using all platforms available to you to make sure your prospects and potential clients know and understand your product, service, or solution.
For some of you, doing your business is partially the administration and marketing, too. If you represent other people’s businesses, that ⅓ of our business is done. So, if you’re in direct sales, the operations ⅓ of your business is taken care of. Someone else processes and ships orders, you don’t have to. So you end up with an additional ⅓.
I recommend using that ⅓ on marketing.
The simple fact is the more you market, the more clients you get. It’s a numbers game. Period.
Now, you can’t just market to everyone and hope your ideal client sees. You need to carefully target your marketing.
Ready, Shoot, Aim does not work in the real world and it certainly does not work in the business world either. You need to know what your target is before you start spending your time and money marketing.
Make the best use of your time by targeting the right prospects, the right consumer, the right potential clients.
Not only are there only so many hours in a day, but the typical entrepreneur only has so much money to invest in marketing. Make every marketing minute and dollar count by correctly targeting your market from the start.
Now that you know WHAT the ⅓ Rule is and why you need to focus on marketing, it’s time to learn HOW to get started targeting your market! Check out my audio training, Targeting Your Mark!
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