What Makes You Money? Revenue Generating Activities!
Doing Revenue Generating Activities or RGA every day is not always easy, especially if you are a soul-proprietor doing both the work IN your business and ON your business. If you are a massage therapist, contractor, coach, or any other service provider and you are spending your days doing work for your clients then when are you generating new sales? If you say, “I’m not” then how do you intend to continue with a healthy business? The answer to that is likely “I don’t”.
RGA consists of marketing and sales activities, both of which you are in charge of and likely wear the overseers hat of management for their implementation and completion. This is an ongoing, daily activity that must be attended to regularly or you will feel the roller-coaster effect of alternating prosperity and want. I want to give you one activity to use every day to help you flatten out this prosperity line as you grow it and that is The Daily Diligence.
The Daily Diligence
Phone calls are still required
If you think social media and emails are enough to get your clients to reach out to you and buy then you are wrong. People still need the personal touch and, because of this, sales calls are not going away. Even if you are networking to build relations or belong to a marketing group like BNI you will need to follow up with connections and referrals. Networking, social media, and email campaigns are part of your marketing and hopefully, if done right, will help you fill your funnel with great warm prospects. Don’t throw in the towel on your marketing until you have done the follow-up and you personally know that you have connected with everyone that may want your service.
Set a time limit or accomplishment level
Ensure you have time for your Daily Diligence but don’t fill your day with it, unless you have booked extra time. To make sure you have time to do this difficult work you need to book it. Just like you would book your clients, you will book yourself time to do RGA work. There are so many activities that could be done for marketing and sales and if not managed correctly they can take over your week. Remember that time, in the not too distant past, when you had no time to do anything because you had booked so many networking events and coffee meetings? Well maybe you have not had one of those weeks yet, but if you are not careful, it will happen and then, when the week is over and you have not closed any new sales you should be wondering, “what was the value of my time and dollars”.
You can also book by accomplishment level. For instance you may say, I’m going to knock on 5 doors or make 10 calls. Pick a value you have control over. This does not work for number of sales, as you may need to spend the day to get one sale and then you have not balanced your marketing with your serving.
Start every day doing the one thing
Do the one thing that is hardest for you to do first thing in the morning. If calling clients and closing sales are difficult then start your day with the focus to accomplish that first. Don’t book any client work until you have fulfilled your commitment to your most difficult RGA.
Evaluate Your Investment
This can be applied to any RGA activity, but I want to look specifically at your networking. Have you evaluated your ROI on your networking investment?
- How much money and more importantly, how much time does it take?
- How much money and time have you budgeted?
- What return were you expecting (that would make it valuable / or at a minimum)?
- How much return did you get?
People have an expectation that just because they are liked by others or enjoy being at events, that eventually there will be a return. Even if you are one of the most productive referral partners in a networking group you may never see any return. I say, “If there is no cash flow then let it go!”
At the end of the day I want you to ask yourself, “did I do something today that was revenue generating?” Answer ‘Yes’ every day and you are on your way to accelerated growth.
Leave a Reply