![]() Think about cars, for example: many are the same basic model, with tons of add-ons to consider. The right solution may be as simple as refining your product to a few basic options, with additional choices for customization. Streamlining so much that you eliminate the big moneymakers in your company can be a risk. As you cull products or services, it may prove wise to retain the most profitable ones. ![]() Identify your strengths and streamline your offerings, focusing on the items that you can train your staff to replicate. They package these things differently and sell them in different combinations, but the simplicity is what allows the company to reproduce the menu in locations all over the world and sell products without requiring highly skilled labor. Think of ones that produce a few things: burgers, fries, chicken, salad, and soda. It’s often a good idea to delegate.Īs you begin to automate processes and delegate tasks to your staff, make sure to invest some extra time to make sure your presence is still felt.Ī good example is fast-food restaurants. It's impossible to automate any part of your business if you insist on doing everything personally. Not only will you have created a new revenue stream, but you're widening your existing stream. In addition to generating income directly from a book, you may also find that your book can dramatically improve the visibility of your brand, which can translate to more sales for your company. The beauty of a book is that once the hard work is over – it's written and edited, and a marketing plan is implemented – then you simply collect proceeds while you move on to your next project. ![]() If you have the authority in your space, position yourself as such by writing a book. Once you've found success – or even while you're on the road to it – consider looking for opportunities to promote yourself as a brand. Here are nine ways you can set up your business to earn a profit while you focus your attention elsewhere. One way to think about it? You’re putting your business on auto-pilot. As you begin to automate processes and delegate tasks to your staff, don't forget to ensure your defining characteristics are preserved. You attract prospective clients, convert them to customers, earn money, cultivate repeat business, and encourage customers to refer other prospective clients.Įach of these steps entails specific challenges, and one of your goals as an entrepreneur should be to automate as many of these steps as possible.Īutomation – implementing systems that perpetuate your business without your involvement – can be the key to generating income while you sleep.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |