Leveraged Activities. Let me ask you a question, and be honest: Does your business suffer from the following symptoms?
Do you wonder where your next client is going to come from?
Are you overwhelmed and overworked with trivial activities?
Are you not focussing on high-yielding, revenue-producing activities?
Are you trading time for money and not earning your true value?
Are you stuck in a state of feast or famine?
Are competitors with inferior products and services seeing more success than you and stealing your market share? (View Highlight)
Note: A Reminder for A Highly Leveraged Activities
The fate of your business lies not just in having the best product or service but in your ability to market your products or services. While this might be difficult for you to accept, it’s true. (View Highlight)
The market doesn’t pay you to have the best products or service. It rewards you for solving problems. (View Highlight)
Note: A Reminder if you think you’re not good enough to deliver values to client.
In other words, you’ll be compensated on the basis of how you market and build value around your solution to the pains and desires of your customers.
The bigger the problem you solve, the more you will be compensated. (View Highlight)
In my deep dives into marketing psychology, I’ve found his 80/20 rule to hold true for almost all areas of business, including… Popularity of products.
Sources of incoming leads.
Customer service problems.
Reasons customers buy.
Activities in your business that produce revenue! (View Highlight)
4% of your activities create 64% of the revenue in your business In my business, after cutting out the 96% of my activities that produced little or no revenue, this is what the top 4% revenue-producing activities looked like: Revenue-Producing Activities Writing sales copy (View Highlight)
Coming up with offers & promotions Creating sales funnels Shooting videos Doing webinars Scheming & plotting (View Highlight)
Because these 4% of activities literally bring in 64% of all the revenue for my business, I hired an operations manager and other team leaders to do all the other things that don’t move the money needle. (View Highlight)
Note: Identify what doesn’t important for the growth of the business, and hire for that.
Sadly, here is where most entrepreneurs and top employees mess up. Instead of investing their time exclusively in their super-productive 4%, too many business owners and salespeople get caught up in the minutiae of the day-to- day 96%. (View Highlight)
Note: be disciplined and commit to the 4%
So what are your top 4% revenue-producing activities? (View Highlight)
Note: What if all the working business models in this world, work due to this?
As the owner, your number one responsibility is to sell. Selling is not something you do on the side. It’s not something you can outsource or completely delegate. It’s the single most important job of any business and consequently any founder or owner.
It doesn’t matter whether you have a great product or service… Your entire existence as an entrepreneur lives and dies by how effective your sales and marketing is at producing new revenue. (View Highlight)
Note: The reason why building an audience work, the reason why authority work, because all that remove the friction of sales.
Thus why we see a lot of founders with these background.
The prerequisites of becoming a Business Owner, is: SALES
If you don’t, owning a business can be unpredictable, unreliable, and incredibly stressful. (View Highlight)
Note: Starting a business are stressful not because of business is hard. It’s because YOU CAN’T MAKE SALES.
As a business owner, selling should be your number one priority – and you must act accordingly. This means spending the bulk of your time on marketing and sales-related activities – or as I call them, revenue-producing activities. (View Highlight)
Note: Not just sales, but any marketing and sales-related activities.
Founder/Owner should focus at this, it’s called “revenue-producing activities”.
To be a truly effective entrepreneur, you must become your business’s number one expert at selling. (View Highlight)
I don’t care how talented you are, how fortunate your upbringing was, or even if you had a better education or opportunities than me. You simply can’t outwork me. Ever. (View Highlight)
The thing that is within your control is how hard you work. In anything you do, to work hard takes no special talent, luck, or exceptional resources. You simply just have to be willing to put in the work and do it. (View Highlight)
There are no excuses. It’s no one else’s fault. It’s all on you. You must be completely focussed on taking full ownership and responsibility for every bit of success and every bit of failure that comes your way. Decide how to get the job done and then do whatever is necessary to make it happen. (View Highlight)
Note: The Sales Mindset, related to Extreme Ownership
If you’re required to exert willpower to do something, it means there’s internal conflict. It means, the ‘why’ is not big enough or the ‘why’ hasn’t overtaken your desire for whatever the alternative is.
You want to make your ‘why’ so big that your ‘how’ becomes easy. (View Highlight)
The only qualification that I would add is you have to work hard on what gets results. Invest your time in the 4% that drives cash flow. Love the work itself, but set goals and demand results from yourself. Plan for progress and achieve it. (View Highlight)