Money Making Activities ever heard of them?
If you do what you currently do consistently for the next 10 Years, what difference will it make? Will you get the result you desire or will you be stuck where you are now?
The very big difference between successful marketers and unsuccessful marketers is that successful marketers are producers, they focus majorly on “result producing activities” by result producing activities, I mean money making activities; while unsuccessful marketers are consumers.
Successful marketers are focused on marketing while unsuccessful marketers are part of marketing.
Ever heard of Pareto principle? a.k.a the 80/20 rule
The Pareto principle or Law of the Vital few simply states that 80% of the effects come from 20% of the causes!
What this means is that…
20% of what you are doing now will give you 80% of results i.e. majority of the results.
So, you can eliminate 50% of what you currently do and still be getting the same results. The Key here is not about being busy, it is about being productive
Understanding Money Making Activities
Money making activities are the major 20% of activities that yields 80% of the result. The result you get in your online business can be attributed to the vital few activities that helps you make money.
Identifying the Money making activities in your online business is necessary because without these activities, you will not make any money. Unless if your goal is to stay broke online.
What this means is that you must differentiate between being busy vs being productive.
Many online marketers are not successful because they are “too busy to make money”
They are busy attending the best webinars, buying courses, downloading eBooks, Software etc.
This is why they end up as consumers and not producers. And if you are consumer, there is no money for you.
Shift from Being a Consumer to being a producer and you are going to see a huge shift in your income, your business, your time and everything around you.
Producers focus on the Money making activities.
They do whatever it takes to always “be in the eye of their audience” by this I mean, the producers focus more on Marketing.
Because marketing is your key Money maker.
No one pays you to check social media, and download eBooks… So your key money making activity should be marketing yourself, product and services to your target audience.
“The Only thing that brings on money in business is Marketing” – Neil Patel
Before we proceed, take a minute or two to do the following exercise:
Grab a Piece of paper and a pen, or you can open Notepad or any similar program and take not of the following:
- Write down the first 5 activities you do every morning
- How do you spend the first 5 hours of your day
- Write out the top 10 things you do everyday
Now study that list carefully, you will see that majority of the first 5 activities are stuffs like checking Social Media, Replying and checking emails, surfing the web and watching videos.
This is why your first 5 hours will surely be filled with activities like signing up for webinars, free offers or to beta testing a new tool, replying to posts on social media, replying emails, checking out sales pages etc.
By the end of the day, your top 10 activity for the day will be…
- Checking Social media
- Being active on Facebook, twitter etc.
- Watching Videos
- Reading emails
- Replying some emails (Some people even go extra mile to reply SPAM)
- Buying some new tool or course
- Signing up for a webinar
- Attending another webinar they previously signed up for
- Searching on google for a new term they just heard
- Downloading and reading another great eBook
Now imagine that you lived like this for the next 5 years… I don’t need to tell you the implications.
It is time to break the chains. and focus on the MMAs (Money Making Activities)
Money making activities are those activities that will end up generating profits for you.
Examples of Money Making Activities
Depending on your online business model, the following money making activities might include more or less activities… Here are some top examples of Money Making activities that are applicable to all online businesses:
- Sending Emails to List
- Following up on Deals
- Creating Offers and Upsells
- Running a Webinar
- Recruiting affiliates
Now this is just a Few of the many activities you should be focusing on to become successful online.
So grab your Pen and paper once more and do the following exercise:
- Make a List of top 10 Money making activities you can do daily
- Taking into note the 5 activities you start your day with, which of the busy activities, do you need to remove and replace with a Money Making Activity?
- Make a plan on how you can spend your first five hours on Money Making Activities
Don’t forget to put a specific time frame for each activity. You surely don’t want to spend 3 hours or more on one activity.
One more thing… try not to be carried away with doing all, I will advice you to Pick the Vital few as always and one very important thing you should note of is that…
All Money making Activities are not Created Equal
Wondering what this means?
Let me explain…
You might want to focus all your energy on the long list of money making activities that you think can help you get the right result, but you must understand that there are two types of money making activities.
- High value Money Making Activities
- Low value Money Making Activities
The 80/20 Principle comes into play here once more…
In your list of money making activities, 20% of your money making activities, generates 80% of the results. While the other 80% are Low value money making activities.
Your goal here is to focus on that 20% High value money making activities and keep improving and scaling it up to get better results.
Now in your list of money making activities, there are activities that directly bring people to your pipeline (traffic) and there are activities that bring about the sales you need (Conversion).
You must be able to identify the high value activities that will help you focus on these two processes.
Let me simply put it this way… Focus on the top traffic generation technique and following up on your existing audience to get more conversions.
So your List of High Value money making activities Should be something like:
- Checking your numbers and improving
- Advertising and Optimizing your ad campaigns
- Following up on prospects (New leads)
- Up selling to Existing customers / Creating Special Offers
- Attracting and Building your Audience Base (Content creation)
This leads us to the 3rd and Final Exercise
- Differentiate between High value and Low value Money making activities
- Which of the following Money making activities can you or will automate or outsource?
- What are the 3 key High Value Activities that are making you most of the money
- How can you improve these activities?
- Create a Plan to Start your day on these 3 key activities
After taking note of this, Make these 3 top activities your routine for the first five hours of the day and don’t forget to outsource some other high value activities.
This way, you will become more productive and less busy and still get tremendous results.
You must understand and do the following:
- It is not about being busy, it is about being Productive.
- You must shift from being a consumer to being a producer.
- Marketing is the Only activity that brings in money, 80% of your focus should go into it.
- Take careful note of the wrong activities and replace it with the right activities.
- All money making activities are not created equal
- Identify the High value money making activities
- Focus on high value money making activities.
- Outsource or automate some of the high value activities
- Be in charge of your Business
- Stay Productive always.
I will drop my pen here and now that you understand what it takes to succeed, it is time to change your focus from being busy to being productive. So focus on the result producing activities that when you continue to do them, you will definitely be getting the right results.
By the way, Share your opinions, suggestions and comments Below.
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