October 6, 2007

Leveraging Your Biggest Asset - Part 1

The biggest resource you have is your time. Most practitioners are painfully aware that there is only so much time. Your time is money. What you do with your time is directly related to how much money you can make. 

The concept of working “on” your business versus “in” your business was developed by Michael Gerber, in his book “The E-Myth.” It’s the idea that we get so caught up working in our business – doing all the things that pay the bills and keep us busy, that we just keep doing the same things over and over again, without getting any further ahead, or building any equity.

When you are working a lot, it’s like running on a treadmill. As long as you are running, the treadmill keeps turning. But as soon as you get off, it stops turning and you are no further ahead.

To get off the treadmill, you have to make a conscious decision to set aside time to develop tools and systems that have lasting value, and build equity for your efforts.

If your goals include having clients easily find you, increasing your income, becoming an expert in your field, and/or making a difference in the lives of many people, then you have to learn to leverage your time.

One way to do this is to invest your time in creating marketing assets. Just like singers earn royalties from their recordings that generate income year after year, EFT practitioners can create marketing assets that continually build their businesses.

Here are some examples:

·         Websites that work 24/7

·         Content for blogs and email newsletters

·         Information products (ebooks, special reports, audio programs, etc.)

·         Strategic alliances

·         Data base

·         Testimonials

Here are some strategies to get you started:

Have a web presence. One of the best ways to leverage your time is to use the internet. But you do not need to spend a lot of money on a website and/or expensive logo. Look for designers that will give you a package price. It IS worth it to have a site professionally designed, but be sure to do your homework on costs. 

Research your ideal clients. You can never spend too much time learning about and understanding your ideal clients. What are their most urgent problems and challenges? 

Get a specialty. It helps your marketing efforts tremendously if you have a specialty area to focus on, even if you want to have a general practice. 

Start creating content. Chances are that you have enough information right now to write an ebook (or a print book) that addresses the most urgent needs of your potential clients. You can start with short articles for online publications, create special reports or start your own email newsletter. 

Start talking – into a tape recorder, that is. Recording audio products is a powerful way to leverage your time, since many people want to listen while they drive. Adding short audio clips to your website adds another dimension.  When people can “hear” your voice, you become more real, and more credible. 

Shift your focus to problem-solving and results – In your marketing, don’t focus on “what” you do, but what results people get from working with you. People are much more motivated to solve a problem than to simply work toward a better life in general. Let them know what specific problems you can help them solve.

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