Client Magnets Official Blog

Lots of people have an abundance of ideas. You’ve probably got so many ideas that you don’t know where to start – and all the ability you need in order to implement every one of those ideas, too.

But, just because you can doesn’t mean you should. When you’ve got so many ideas that you don’t know what to do, you will half-do everything.

The key is to focus on the one or two ideas that can really bring in the big wins for you. Putting your time, energy and talent into those ideas will step up your business by enabling it to run more smoothly and be more productive.

Here are some rules to live by to help you choose which ideas you should implement.

Follow the 80-20 rule.
80% of your revenue will come from 20% of your assets, meaning that 80% of the money you make will come from 20% of your clients.

When you know this up front, it is much easier for you to plan. You should be following through on the ideas that will appeal to your top 20%. Design products and programs and solutions for those clients, because that’s where four-fifths of your income is coming from.

Worry about the lower priced stuff later. Most people do this the opposite way, thinking  that starting with low priced offerings and then building up to Rolls-Royce or VIP programs is the right way to plan. Don’t miss out on the big opportunities because of that way of thinking.

Look at your time.
The primary reason most people can’t follow through on an idea has to do with the way they allocate their time.

Put your time into ideas that can and will produce income. Part of achieving a new revenue goal is about allocating your time differently. You’ll have to stop spending time on certain things and start spending time on other things.

As obvious as that may sound, it’s amazing how many people ignore or overlook that. Listing your assets and listing the differences in the 80% of your revenue coming from 20% of your assets will show you how much time you can spend per idea or project, essentially telling you what you need to spend your time on and what you need to stop doing.

Think in terms of project income.
Don’t just think in terms of monthly income anymore. Instead of planning your year month by month, try planning quarterly, from a financial aspect, but also plan around big projects. Three or four big projects should be sufficient.

The income streams from these projects will help you decide which ideas to pursue. If you’ve got a revenue goal of $250,000, which projects will get you there and at what times?

The key is not to do all of them at once. There is a connection. What you want is to have one project build momentum for the next project, which builds momentum for the next project, and so on. It’s important that you plan strategically, that you’ve got a long range plan and that all of the elements make sense.

You can’t help but come up with ideas; it’s how and why your started your own business in the first place. Just choose which ones you will follow through on, and when, to make the absolute most of them.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

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