Would you like to double your income in the next year? If you're like most solo entrepreneurs, the thought sounds attractive. But, then things start getting fuzzy about how you're going to do that. In this article, learn about a 4-step strategy that'll help you create the energy you need to take action, and double your income faster, and easier than you ever thought was possible!
Would you like to make more money and double your income in the next year? If you're like most solo entrepreneurs, the thought sounds very attractive. But, then things start getting fuzzy about how you are going to accomplish that goal. You might even talk yourself out of thinking it's even possible!
Before you know it, time slips away, and you've seen no forward momentum toward increasing your income. Does this sound familiar to you?
I, too, at one time, had this problem. But, then I changed my mindset...
One day, when I was talking with a professor from the graduate school I was attending, he asked me what direction I was headed with my M.B.A. and women-owned business. I told him I wanted to grow my consulting firm, do some speaking, and earn a decent income ($150,000 sounded about right). Right then, he cautioned me not to think 'too small' and limit myself. He told me, "Think small, and you'll get small. You might as well think big, because you have nothing to lose, and everything to gain."
That conversation was one of those "Aha" moments for me. Immediately, my mindset shifted, and from that day forward, I began to challenge myself at every opportunity to 'think bigger'. Now, my income goals for my coaching and consulting business are to create a 7-figure business. Can I achieve it? You bet! And so can you, if you set your own Electrifying Money Goal.
The small business marketing and money growth system I've created is called your "Electrifying Money Goal". The concept is simple, and has worked to help me double my income the last year, and be on track to double it again this year.
Here are four small business marketing and money growth strategies you can use today to leverage this powerful tool:
1. Choose a Short Time Frame
The shorter the time frame, the better. Short time frames give you clarity, help you focus, and create momentum because their deadline is a short time away...which helps to get you moving to accomplish the goal. I suggest working within a 30 - 90 day timeframe. This timeframe compels you to think of specific actions you're going to take to 'now' to achieve your money goal. Give yourself too much time, and you may procrastinate because a sense of urgency in accomplishing the goal is lost.
2. Stretch Yourself
The Electrifying Money Goal gets you to stretch your thinking, and spark your creativity about how you're going to reach the goal. Aim too low and it's likely you won't make any significant changes in your business, or progress. That's why I recommend you create a 'stretch goal'. Stretch goals are seemingly unobtainable with present resources. But, by specifying the unattainable, you are required to "think outside the box". Doing so will help you improve your performance by a magnitude you had never thought possible.
Be willing to "stretch yourself" to achieve the money goal of doubling your income. I recommend that solo entrepreneurs choose an amount that is 50 percent more than they are currently earning, for the next 30 - 90 day period. Challenge yourself! What do you have to lose?
3. Pick Low-Hanging Fruit, First
To achieve the money goal you determined, look for the low-hanging fruit that's just waiting for you to pluck it off the "Money Tree". Low-hanging fruit are typically services and products you already have that can be re-launched, re-titled, or expanded. Dust these items off, because they represent unrealized income increasing opportunities.
4. Be Creative and Forge New Ideas
In addition to looking at existing products and services you can offer (the low-hanging fruit), be open to new ideas, services, and products you can create to achieve your goal. The whole idea of the Electrifying Money Goal is to take a big leap forward in expanding your solo entrepreneur business.
Big leaps forward require passion, courage, and a plan. By creating an Electrifying Money Goal every 30 - 90 days, this will help you create the energy and action steps to take to achieve your ideal income faster and easier than you ever thought was possible!
Copyright 2008, Bonita Richter
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