Each year we pull out that little list and make our proclamations. Was last year the same as the ones before? Did you hound yourself to set them… only to berate yourself a dozen times for not following through? You’re in great company with 93% of the folks who think “This year will be different, really!”
A whole new path to success.
This past New Year’s Day I was invited to join a “Resolution Party”. Continue Reading
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My client confessed this week. If he had it to start all over again right now, here is how he’d use his expertise to create immediate and endless income for himself.
Re-Position Yourself
Professionals are among the most resistant entrepreneurs you’ll find. They take their technical expertise, go out to ‘go it alone’ or build a small professional firm, and clog up the works by diving into the depths of their work.
Your value as a technical expert is only one aspect of your value to your clients. Of greater value than billing hours to solve some matter for them, you need to become the ‘manager’ who makes solutions happen.
That means shifting to being a business builder who steps in to refine the work being done by other resources.
Really.
Keep that in mind and don’t let yourself be pulled off course and into the depths of ‘doing the work.’
Re-Purpose Your Know How
Your magical opportunity is to take your technical know how and experience and find new outlets for it. It’s not about gaining new know how – it’s about taking your know how and re-shaping how it’s offered in as many ways as possible to hungry audiences who are waiting for it.
Here’s an example. A recognized economist is a frequent expert witness. That’s a highly paid use of his know how.
But wait, it gets even better. He’s created a series of free white papers he’s posted on his web site. And hes’ turned them into articles distributed through the internet. Not a revenue producer you say?
Well, it is. Because he has paying newsletter subscribers. They get his analyses of the impacts of each related case and of actions by the government, describing the potential effects on the very types of cases he’s used for. Instead of use one case at a time, he now has paying subscribers across the country paying for his insights as they work up their own cases.
His subscribers may come to him for expert testimony, this year or sometime in the future. Either way, he’s got a steady stream of revenue using his expertise in ways other than one-on-one problem solving one customer at a time.
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One of the most important questions you have to answer for yourself as you build your business is who you are going to listen to and learn from? This is particularly important now with the economic challenges demanding smart action at every step.]
I have found there are basically 3 types of teachers in business and only one type is always worth following:
Type 1 – Trainers who have been handed information, a script and exercises to coach you through so that you get some experience with a hypothetical example. They have seldom faced the actual challenges you want to solve. I recommend my UAGOS filter here: “Use a grain of salt!”
Type 2 – Teachers who has succeeded at facing the business challenges you have in front of you and is no longer doing it. Use caution with this type. Be sure you check out testimonials from others they have worked with to be sure their know how is relevant for the results you are trying to achieve.
Type 3 – Teachers who mentor. These are folks who have been in your shoes and can provide practical, actionable input. For the issues they see you need solving, they can bring you others with the expertise you need, to short cut your needing to go fish among strangers for your solutions.
This is the kind of teacher with whom I spend my time and money. Great examples are experienced consultant who have run companies, and technical experts who have done the business building strategies I want to implement in my own business.
My recommendation: Learn from mentors and coaches who have done it, and who have a roster of examples of teaching it to others who created success with it as well.
This is why I created the Business Accelerator club to train you how to build your business further, faster and easier. The focus is on stabilizing your business by managing it with ease and growing it by leveraging your experience to create low cost highly profitable new streams of income. I’ve done it. I’m teaching it, and I continue to do it everyday.
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