Question of the day: Why do only 10% of the country make over $100,000 and only 2% make over $200,000?
In business, time is money, and where you spend it can make the biggest difference in your income and your career.
It all boils down to High Return On Investment Activities.
When starting out, you’ll have a tendency to try to focus on things don’t generate results. Things that feel nice, but don’t help you accomplish your end goal of generating revenue or clientele.
To avoid this, make sure that whatever you’re doing can be quantifiably linked back to revenue.
To know what generates revenue, you must understand your business; so take the time to learn what tasks are generating revenue, and what isn’t.
Once you know what tasks are truly generating revenue, analyze what your daily or weekly routine consists of.
If you were to take a look at your calendar or daily tasks today, what percentage of your work can you link back to revenue generation? 50%? 75%? Be brutally honest with yourself when determining your true percentage.
On average, you will find that number to be 20%.
20% of your work will typically generate 80% of your results.
The other 80%?
You probably used it to keep yourself “busy” with “work”, but not really moving the needle forward.
What would happen if you focused the majority of your time on just the revenue generating 20% and delegated the rest?
Where would that take you?
Well, by implementing this very technique in my own practice, as of the posting of this post in mid-March of 2019, I’ve done over 55% of what I accomplished in all of 2018.
We all have the same 24 hours in a day.
Don’t make excuses. Just get results.