Strategy #1 – Stop chasing the money. Do what you love.
Passion isn’t something you do, it is the energy you feel while doing what you love!
When you do what you love you feel energized, invigorated and excited. You feel alive. Doing what you love doesn’t cost you energy, it brings you energy.
Many entrepreneurs begin their businesses because of their passion and desires, however quickly get distracted by trying to figure out the answer to the question, “What do people want to buy?”
If you’ve ever found yourself asking this question - STOP!
People don’t buy what you do, they buy the solution or resource for their problem or situation and hire YOU because they believe you can deliver.
When your clients are considering hiring you, your passion matters. Passion feels wonderful and makes it easier for them to say yes.
Just think of the experiences you’ve had working with those who are passionate about and fulfilled by what they are doing. It feels great to hire them and feels wonderful to work with them! They deliver amazing service and are people you can trust and count on.
Money is simply paper and within itself has no meaning. It gains meaning because it represents energy and is the energy exchanged for services rendered. When providing service from your passion, the energy you bring to your client and the service you provide is abundant, impactful and powerful.
Focus your energy on providing the service you love. The service that inspires you.
When you chase money, you are chasing energy. Anything you must chase, by definition must be eluding you.
Passion is energy that is expressed by doing what you love. When you engage your passion, you won’t have to chase any energy, you will be generating the energy. Since we know like attracts like we know energy will attract energy. If money is energy then what you will attract is the amount of money equal to your passion.
There is a universal equation for compensation that you will want to be mindful of.
It states that the amount of money you earn is in direct proportion to these three things:
1. The need for what you do. This is taken care of for you. Right now, people are in need and looking for what you are passionate about providing.
2. Your ability to do it. The more passionate you are about something the more you engage it, focus on it, and take action with it. Just look on your bookshelf, your calendar and your expense records. You’ll quickly see that the majority of your time and energy is directed toward and in your passion. Where your focus goes your energy builds and flows. By engaging your passion, your ability to do it has expanded and strengthened. Now, you are likely an expert or well on your way!
3. The difficulty there is in replacing you. The more you focus and engage your passion, the better your skills get. So simply focusing on number 2 in this equation takes care of number three. A person with enormous passion backed by developed skill is difficult if not impossible to replace.
Strategy #2 – Know who you serve and focus on them.
Entrepreneurs are talented, go-get-um people who have great passion for what they do. This passion usually brings the desire to serve and work with everyone. Unfortunately, this is a big mistake. Most entrepreneurs have heard that they need to focus on a Niche.
In addition to focusing on a Niche you must know who your Avatar and Ideal Clients are. Your Ideal Client is the one you work directly with and provide your services for. Your Avatar is the person who responds to your marketing and often pays for your services. Most often they are the same person, but there are times when your Avatar and your Ideal Client are different people.
As an example, if you are a Corporate Consultant or Coach your Avatar may be a CEO, COO, or VP of Operations and your Ideal Client may be the C-Suite Executives who are also within the company or the Executive Management Team. Not only do you need to know your Niche, but within your Niche, you need to be even more specific.
You need to be clear on who your Avatar and Ideal Clients are. Too often these go undefined leaving the Entrepreneur to try to be all things to all people, which results in them be nothing much to no one.
You need to know specifically who you serve and why they need you. Actually, you need to be clear on why they must work with you.
Here are a few questions that will help you to narrow down who you serve and more clearly identify your Avatar.
1. Who are the clients you’ve enjoyed working with the most? Did they hire you or was it someone else? If it was someone else, who was it that hired you?
2. What is driving you to work with them?
3. What do you know that will help them solve a problem, prevent an issue or speed up their achievement of something that they need asap.
4. What is the price you would be willing to pay if you where them for your solution?
5. Where are they in the world?
6. What are they doing consistently?
7. What do they invest their time and money in and why?
8. Who do they go to for recommendations and guidance?
Strategy #3 – Set your schedule.
When you are first starting your business as an Entrepreneur, you are going to put in some serious focused time and effort.
It’s important to pursue your passion fully and let go of any part of you that may be holding back.
That being said, pursuing your passion won’t drain you, it will fill you with energy. Once the momentum in your business kicks in, you’ll love the energy filled ride so it’s worth the continual application of your focused energy to stimulate the momentum when first getting started.
That’s why this strategy is so important. While there are lots of things to accomplish and do in your business as you launch or expand, boundaries are important.
There is a formula for those who achieve the most success apply to their schedule.
The formula is this:
PREP FOR WORK >> WORK >> PREP FOR WORK >> REST (REPEAT)
They also apply Parkinson’s Law, which states that work expands to fill the time made available for its completion. That means you could spend all day working on something or if you only have 4 hours, complete it within this time frame.
To reclaim your freedom, schedule a time at the end of your day or week to plan for your next day or week of work. Put this preparation time in your calendar and map out your schedule for your next work time.
If you meet with clients, select and put the appointment times in your calendar. When scheduling with clients stick to the times you put into your schedule. If your available appointment times are between 9am and 3pm, do not schedule a client at 8am no matter what the reason is. Let them know you do not have that time available and then suggest another time within your availability.
You are teaching people how to treat you in every interaction. Either you set your schedule or your clients and environment will.
Even if you have to book out a few weeks with someone, find a time that works within your calendar.
One thing Entrepreneurs tend to work out of their schedule is time for rest. This is a huge mistake. As a business owner, you MUST rest. The REST period is the time when you make room for your creative energy to flow.
You gather all you need for your work time and for expanding and deepening the success of your business. All of your inspired ideas come from the time you spend resting.
Be sure this is in your calendar regularly. Some entrepreneurs put this in daily such as a 2-hour lunch involving a basketball game at the gym or hike. Others, schedule a day off during the week or totally unplug during the weekend. Whatever you experience as rest…do it regularly!
Strategy #4 – Develop a relationship with “No” and “Yes”
This strategy is simple. Clear out or delegate everything that is outside of your passion. When first getting started, Entrepreneurs tend to be everything from soup to nuts in their business. Even at the beginning it is important to be aware of what you are passionate about and what you will soon delegate to others. Here’s an exercise that will help you determine what is yours to do in your business and what you soon will delegate to others. Take out a piece of paper and write out everything that has to be done in your business. Let this be a mind-dump. Just get it all out on paper. Next go through each one and assign these codes.
First look at each thing on your list and ask, “Does this really need to be done? If so, why? What comes from it?” If you find anything on your list that doesn’t really need to be done and doesn’t directly benefit your business, cross it out. Get rid of it. It will drain your resources little by little and is equivalent to clutter in your business.
Next go back through your remaining list.
If you are the only one in your business that can do this and it is your passion and special gift, but a “P”.
If you are terrible at it or don’t know how to do it, put a “T”.
If you are okay or even excelling at it, but dislike doing it, put a “D”.
Now, everything on your list with a P, is yours. Everything else you will eventually delegate to others. Start thinking, who can do this for me? You’ll be surprised at how many people are able and willing to do these things for you and how surprisingly inexpensive it can be. You don’t have to know HOW you will delegate these things or who you will delegate them to at first. Just keep being mindful that these are ready to be delegated and take action when you get the inspired idea as to how.
Strategy #5 – Stop attending Networking Meetings!
Who attends Networking Meetings? Those who need business? If you are the sum average of those you hang out with, then you are identifying yourself as someone who NEEDS business. Not someone who is thriving in business.
Like attracts like. Those who need business are not the businesses who are thriving – ever!
I’m sure you’ve felt it. You attended the networking meeting and the people you met only wanted to tell you about what they do? You may have felt their desperation for you to either hire them or send them business. Everyone was handing out their card, pleading with their energy – hire me!
If you want to thrive, go where those who actually want to hire you are. They aren’t networking at Networking Meetings. They are at the Gym, the charity event, the golf course, the CEO or COO’s Group. They are at the trade show. They are at the play, performance or sporting event.
More huge deals are closed in places where people are mingling, playing and enjoying themselves, then anywhere else. Stop networking and start connecting with your idea clients and avatar.
Remember passion sells. Go where your ideal client is playing, having fun, and enjoying the fruits of their passions. That is where you will meet them and build a relationship that will allow you to help them grow even more. This is where they will hire you. And let’s face it – it will be much more fun!
“Surround yourself with only people who are going to lift you higher.”
- Oprah Winfrey
My Special Invitation and Gift for You!
You don’t have to do all things perfectly when launching and building your business. These five adjustments will help you shift from busy to effective and from struggle to increased success.
The key is to keep each of these 5 steps very simple. To help you accelerate and successfully make these shifts I have a special gift for you.
I invite you to attend my upcoming webinar – 5 Simple Mistakes Entrepreneurs are Making that are Delaying their Success and How to Change Them.
During this webinar, I am going to walk you step-by-step through each of these steps and will be working with Entrepreneurs who attend (you) live to help you make these changes.
Seats are limited so you will want to register right away. Let’s help you bring this information alive and apply it to your business. Your success matters and the time for success is now!!!
I look forward to having you join me!
To your joyful success and prosperity!