How to Identify Profit Generating Tasks
How to Identify Profit Generating Tasks
What goes in your schedule? There are so many strategies out there and not just a one-size-fits-all. To understand what is profit generating and what is not, I like to use the following three filters:-
1. Personality
2. Priorities
3. Plans (both personal and business related)
Let’s dive into each of these one at a time.
CATEGORY 1 - PERSONALITY
Does it feel easy, light and fun?
Your personality really comes into play when identifying profit generating tasks.
What is energy-giving for you?
You have got to create offerings and schedules based on your energy levels and what feels good for your personality.
You don’t want to have too many offers due to the workload associated with an offer.
Working Strengths
Create your own schedule based on your own personality.
Identity your energy levels and when they are most productive.
Look at how you can develop your schedule around what feels easy, light and fun for you.
CATEGORY 2 – PRIORITIES
Profit
What actually generates the most profit?
Look at the data and eliminate tasks based off the data.
Is there something in your package that everyone loves that can entice people to join up?
Purpose
What do you want your end goal to be?
If you only want to be working 2 to 3 days a week, you are going to have to look at how to
structure your schedule around your priority of time.
Progress
Look at what is bringing momentum and helping you move forward in your business.
If you lose your momentum, then you need to look at the cause. This may look like restructuring your offering.
Look at your sales and marketing strategy. You may need to tweak where you are marketing or how you are marketing. You may need to do some more client research.
Sometimes momentum looks like sustaining and maintaining, so that you can then grow again. It is not always a huge amount of growth
Look at both profit and lifestyle to know what you really want.
CATEGORY 3 – PLANS
Offers
Do your offers reflect the plans you have for your business both personally and business related?
Look at income versus time you want to work versus amount of team members you want to have. What does your team structure look like?
Marketing Streams
A big part of your profit generating is marketing and sales strategies. How are they impacting your offers and selling more? This involves doing that data research.
Income and Lifestyle
How much money do you want to be making and how much time do you want to be working in your business? These are the key things in positioning your goals, schedule and your business offerings, marketing and team. You can then support that level of income and lifestyle that you want.
In conclusion, these are the 3 profit generating areas I look at. Ask yourself how does this task, add or drain my energy, resources and is it getting me profit?
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