Monthly Archives: June 2012

The 80/20 Rule

There is something called the 80/20 rule which is also known as the Pareto Way (named after the Italian economist Vilfredo Pareto). Studies across a number of activities have shown that we get the most results from just 20% of our actions! So if you’re working long hours on your business, only 20% of those hours will yield good results.

Don’t think that working long hours means you’ll be successful. Research has shown that students can only really concentrate for 20 minutes. There isn’t really much to suggest that we can work with focus and concentration for hours at a time. We get tired and we may make mistakes – email the wrong people, take the wrong actions, etc.

Instead of working flat out, take time each week to schedule your time. Unfortunately, the 80/20 rule doesn’t tell you which 20% of your actions yield the best results. The best thing is to decide which actions will be best for your business – which tasks lead to more income coming in, more new clients, etc.

Spend time every weekend scheduling your week – what hours have you available, what are the best actions you can take to expand your business during that time.

If you’ve just become a network marketer, you may think listening to your MLM company’s training audios is the best thing. It’s useful but does it expand your business? Why not call those people you’ve been meaning to get in touch with, go to network meetings – whatever will get people to know about your business.

Learn to plan your week and spend time when you’re fresh and motivated to take the right actions. Some people work better in the evenings than the mornings so play to your strengths. Just know that the 80/20 rules applies so discover the 20% which is best for your business.

Leveraging your Marketing Content

In the previous blog, I spoke about various marketing strategies. Hopefully you’ll have picked 1-3 strategies which appeal to you (don’t try to do everything at once otherwise you’ll feel overwhelmed and end up doing nothing!)

One useful thing is to think of ways to leverage and recycle your content. Basically think of the different ways you can get your content in front of as many people as possible.

We’re all different, some of your clients like to read, others prefer to learn by video or audio. So you can take the contents of a blog and turn it into a video or an article. This allows you to spread the same content to many people over a variety of media so creating a bigger audience for yourself and your business.

Create Your Marketing Strategy

The next thing to do is to guide those people who are interested in your content into your funnel. They’ve already shown an interest in what you have to offer, so guide them to your products/services. Send them to a lead capture page –  a place where you can offer them a free PDF or link to a video about your business product or service in return for their email address.

Once you have their email address, send them a daily/weekly email about your business (auto-responders allow you to set this up automatically). The aim is to engage with them and build a relationship whereby they get to know you and buy from you.

Creating a funnel and guiding people through it is a large topic. You’re finding the people who are interested in your business and guiding them to what you have to offer via emails, newsletters, etc. This allows you to give them access to promotions, discounts, etc. You can see what an individual buys and then guide them to what else they can buy, etc.

In summary, use your marketing content in many ways to get the most people to engage with you and create a relationship with them which will allow you to offer your business products and services to them.

Marketing Strategies

Are you building your business part-time or full-time? Whichever way, work out how many hours you can spend on growing your business and then commit to those hours. Create a plan of action and schedule exactly what you’ll be doing during those hours – will you be calling potential clients, working on your web site, blogs, etc.

If you don’t know what to do, focus on the  tasks which will get money coming into your business and attract new clients. You should have an end goal in mind, so work out the steps and tasks needed to get there.

Look at your marketing situation – how will you get people to know about your business. Think about your ideal clients – who wants your products or services, where do they hang out, what sort of jobs do they have, what are their interests.

For example, people interested in health supplements may be more likely go to the gym, be into fitness, visit health food shops, etc. There’s no point wasting time and money trying to attract people who don’t want what you have to offer.

Think about your marketing budget. How much can you afford to spend every month on things such as local ads or Facebook ones. You have to constantly ensure you’re business is being promoted to get new clients.

One you know how many hours you can spend on your business and the amount of money you have to spend, choose your marketing strategies. If you can afford it, outsource the tasks you find difficult such as copyrighting your ads.

If you don’t have a huge budget, think about the marketing strategies you can do or learn about, keeping in mind you don’t want to take too long to get your message out there.

Some examples of good free strategies would be:

  • Blogging
  • Social Networking on Facebook, LinkedIn or Twitter
  • Video Marketing
  • Article Marketing

Some examples of good paid strategies would be:

  • Facebook Ads
  • Local Ads
  • Banner Advertising
  • Networking

For the free strategies, which appeal to you? Do you like writing or making videos. If you’ve never done it before, give it a go, see what appeals to you. If you have a marketing budget, work out the cost of the strategies you want to pursue. Or maybe do the ones you like and pay for others. It’s upto you, the aim is to get your message out to the right people as quickly as possible.

The Priceless Factor to Success

Do you know without a doubt that you’ll create a successful business? I’ve found from the meetings I’ve been to regarding my business, that the people who succeed know 100% that they’ll get to the top – they have the “knowing” that they’ll succeed.

Know You’ll Be Successful!

I realised that in fact this is all you need! Crazy huh, what about business knowledge, etc. The thing is, you can learn all that, you can hire people to write your marketing material, your blogs, set up your social media etc. but you cannot hire anyone to make you know inside that you will succeed – this is the priceless piece of any successful business.

Only you can work on this and the good news is it’s possible for anyone to attain this as long as they’re willing to look at their beliefs, attitudes and do what it takes to remove the ones which don’t serve them and create the new one they require.

Remember, you’re never too old to change and ignore anyone who says so! The lastest neuroscience research into the brain says that we can learn new things at any age – so you can teach an old dog new tricks! If you feel you can’t change some aspect of yourself, start to tell yourself you can. Yes, it may be scary at first and it will require you to consciously think differently at times but if you have the drive and passion to succeed, you can do it.

Read inspirational stories (Three Feet From Gold by Sharon L. Lechter and Greg S. Reid), watch inspirational films (The Pursuit of Happyness) – if it’s been done before, you can also do it. If people have told you the opposite (parents, family, friends), do work to release those negative sayings (let me know if you’d like more information on this).  We all have the ability to achieve our dreams and goals, we just need help sometimes and also to surround ourselves with like-minded people.

Create the beliefs you require to be successful, practice the “knowing” and you will attract the right people, resources and tools to build a great business.

More Shoes, Less Procratination!

In the previous blog I spoke about procrastination. It can be a slog to do the tasks on your list so make it fun like creating a reward system for yourself. For example, give yourself a gold star every time you finish a task or whatever feels good for you – be playful about it. Get a book, write the task and say you’ll give yourself a star for making a phone call, two stars for setting up a meeting with a new client, etc.

Then start to treat yourself (you deserve it for getting the tasks done!) Say once you have 10 stars you can buy some new clothing, after 50 stars you can buy a great pair of shoes, a 100 stars gets you a pamper session. For the men out there, think of what you’d see as a treat – new clothes, shoes, maybe a golfing session, or tickets to a certain game. We’re all different so make the whole thing fun and reward yourself for creating a successful business.

How Many Points for a Facial?

Ultimately, we don’t appreciate ourselves enough at times, especially when running a business. We think of what we need to do and don’t take time to “pat ourselves on the back’” for what we’ve achieved. So start to make procrastination a thing of the past and watch the gold stars increase into the hundreds!

Why Do We Procrastinate?

A problem many of us suffer from is procrastination – putting off tasks until a more convenient time, or tomorrow (which never comes!). With a business, we enjoy some things and it’s easy to do actions related to that, but some tasks can be a struggle which we find easy to put off (phoning potential clients, writing marketing material, etc.)

Just One More Chapter

There are many reasons for procrastination:

  • Overwhelm – you have so many tasks to do it’s easier to throw your hands in the air and do nothing.
  • Fears – what if you do all these things and nothing comes of it, will you have failed.
  •  Or what if it leads to great success – can you handle the responsibility and demands on your time? Sometimes it’s easier to do nothing because at least that way you don’t have to deal with the consequences.
  •  You don’t feel you have the ability to do the task and you’ll do it badly, so why bother.

Take a look at why you procrastinate. If it’s a case of overwhelm, then prioritise your tasks – which ones will lead to more income or more customers, do those first if that’s what you want. Take one task and break it down into manageable steps. Ignore the unimportant tasks until you’ve done the priority tasks.

If procrastination is because of fears then you need to work on this otherwise you won’t achieve your goals. Find yourself a good coach, talk to a friend about it, write about it, anything which helps. Why waste your energy on procrastinating when you can spend it usefully getting over your fear blocks – as with most things, once faced and out in the light, they lose their ability to scare you.

It could be that you’re just lazy! In that case, outsource the tasks you can’t face doing. Maybe you can swap with someone else. There are always people who love doing the things you really don’t want to, so find them and work out how you can pay them if you don’t have the funds.

We have no problem doing the things we love, so take some time to work out what causes you to stop doing the things you have to do. You owe it to yourself to create that successful business and not spends days, years putting off the tasks that will lead you there.

How To Wear A Leader’s Hat

Starting a business requires you to be positive and to know inside that you’re doing the right thing. To make it a successful business, you have to have the confidence that you can do it. The phrase “Fake it until you make it” can be applied here – how you may ask?

Let’s say you’re starting in multi-level marketing (MLM) or networking business, then you’ll be responsible for building a team and helping the people in your team be successful. Initially you may have doubts – “what do I know about leadership”, “why would anyone follow me”, etc.

Be Your Dream Leader

We all have to start somewhere, so start by assuming you’re already a great leader and have what it takes to help people be successful. Think of a leader you admire, put yourself inside their mind and feel their confidence. Use your imagination to see yourself with that same confidence leading your team and taking the actions to create a successful business. The more you do this, the more you’ll actually start to behave, think and act like a great leader.

This is because your mind and brain will create the beliefs you require to be successful. Many people think as you work towards being a leader, you’ll become one but the opposite actually works, as you believe and think of yourself as one, it happens in reality.

This can take some time so don’t be hard on yourself. Try to spend a few minutes everyday imagining yourself leading a big, successful team (even while brushing your teeth!). As with everything, the more you do this, the easier it gets. As your mind gets used to this, you’ll start to think of the actions taken by leader, you’ll behave like one and soon you’ll be attracting people to your business.