Self Employed Success

When planning for the year, remember that there are 8 ways to increase your income:

1. Sell more quantity of your existing offers. If you typically have 25 people in a workshop, aim for getting 30 or 40 in your next workshop. If you work one-on-one with clients, add more private clients to your roster.
2. Increase the price of your existing offers. Without changing your offer, increase your fees. If you’re still charging the same fees as you did five years ago, it’s time to look at your pricing model.
3. Increase the price and increase the value. Change your offer to be more complete and compelling, and increase your fees. Make sure that you haven’t increased the value by adding more of your personal resources, otherwise the offer isn’t scalable. For instance, if you previously offered a six-session consulting package and now you’re making it an eight-session package, you’ve just used up two extra hours of your time. Even if you charge more for it, are you actually making more income from it? Instead, consider adding something valuable to your clients that doesn’t require you to spend massively more money, time or resources to deliver. Do the math to be sure that the cost doesn’t outweigh the income.
4. Decrease the size/quantity of your existing offers without reducing the price. You see this all the time in the supermarket – a 12-ounce box of cookies now becomes a 10-ounce box of cookies, but the price stays the same. Where can you cut back and still deliver value? Which parts of your offer are not used by your clients?
5. Create new offers that leverage your time and resources. If you’ve maxed out of offering private, one-on-one consulting with clients, can you offer a mastermind group or workshop that maximizes your time by working with groups of clients rather than individuals? Can you create an online self-study program?
6. Upsell existing customers to the next level of your offering. Your clients love you and they want to work more closely with you, or they’re asking for a specific resource that you can provide. When my existing consulting clients wanted a systematic way to manage their projects, tasks, and time, I wrote a book and created a class to help them. How can you serve your existing customers better and provide what they’re asking for?
7. Go to the master level – teach others how to do your work. For instance, after 20 years as a small business consultant, I now teach people how to become small business consultants and run an efficient, thriving consulting business of their own. What do you know, that you can teach others who are starting on your same career path?
8. Hire others to do some of the work for you. If you typically bill out at $200/hour, can you hire others at $150/hour do the client work, and you keep the extra $50/hour as your commission for bringing in the clients? This is especially helpful when you have limited time and too many clients to handle personally, or if you want to create an agency model for your business.

Do you ever have that disturbing feeling that trying to squeeze one more piece of new information in your brain will render you senseless?

Information overload causes stress and a loss of productivity. We’re so busy gathering information that we never get into action around implementing all these great ideas. And we can’t seem to put our fingers on the important information that we’ve gathered!

Here’s even more bad news: when you take in too much information, according to a Temple University study, you begin to make more errors, and worse, make more bad decisions. Can your business really afford that lack of clear thinking? (Don’t even get me started about how a hyper-connected lifestyle is bad for your physical and emotional health!)

Here are 10 tips for managing information overload

Regain control of your brain, your time and your tasks with these ideas:

1. Remember the most important rule: YOU are in charge of your To Do list. YOU are in charge of your calendar and YOU are in charge of how much information you’re willing to receive each day. Trying to take multiple classes at once, or trying to read more than one book at a time, is a recipe for information overload. It doesn’t allow you any time to assimilate and implement. Be selective and base all your decisions on achieving your goals while mirroring your values.
2. Get things out of your head and on to paper. When you take new information, your brain naturally tries to process it, to make connections, and apply it to your real life. Trying to keep all that “thinking” in your brain makes you feel muddled, anxious, confused. Doing a brain dump — writing down your ideas, even in a quick list format — will help clear things out.
3. Take the most recent class you’ve attended or the most recent book you’ve read, and create a Top 3 Action Items list. Don’t create a massive To Do list of every great idea from the class or book. Instead, choose the top three actions you can take within a month, and put only those tasks on your To Do list. Once they’re done, you can always go back and choose three more. The point here is two-fold: start implementing what you’ve learned, and do it in such a way that you don’t overload yourself.
4. Make the decision to make a decision. I know, it sounds silly, right? But if ideas and information are running around in your head and you’re not willing to either act on them or let them go, you sabotage yourself and hold yourself in a perpetual state of overload. Stop doing that to yourself. Instead, tell yourself, “Today I will make a decision,” then do it. You’ll feel better immediately.
5. When you are drowning in information, stop piling on more. It’s okay to stop watching the evening news. It’s okay to stop reading articles or checking social media sites several times a day. Each time you interact with an information delivery system, guess what? More information is shoved in your face. By taking a vacation – even a short one – from any information delivery system, you get immediate relief from information overload.
6. Use tools like Evernote or One Note to have a central location for storing information. As important as storing information is, retrieving it easily is even more important. That’s why I moved from paper notebooks to Evernote for storing notes when taking classes, reading books or perusing articles. Evernote allows you to tag each note with keywords and sort them into folders. Notes are completely searchable, so you can have all the information and ideas at your fingertips.
7. Do you have competing goals? Work on one at a time. For instance, today I wanted to accomplish three things: write this blog post, create my class schedule for the next nine months, and work on a class agenda for a new program I’m designing. All of these things are exciting, and all need to get done soon. All require research and paying attention to incoming information. But only one of the three had a deadline: writing this blog post today. So I put the other things on the back burner and focused solely on writing this blog post. Once it’s done, I’ll choose one of the other two projects to work on next. You have to be willing to let go of some information, even exciting information, so you can focus on your priorities.

I’d love to hear from you: how do you cope with information overload? Are there techniques or software products you use to help you manage absorbing, processing and retrieving information?

I’ve been spending a lot of time this week working on my Perfect Week. Have you ever done this exercise?

You map out what you want to be doing during the week, by category, making sure the high-priority items get on your schedule first. It helps you set priorities and creates more productivity in your days.

Then, in the future, when you need to schedule something, you see how it fits into your “perfect” week instead of letting your schedule get away from you.

Some people balk at the idea of structuring their days so completely. That’s okay — just as long as you’re clear on what you want to accomplish each week and you have a plan in place for getting it all done. And it’s important that you also have a plan for saying “no” to tasks and people who take you off track of your goals.

For me, the structure is necessary; if I leave it up to “I’ll do whichever task I feel like doing in the moment,” I don’t get all my tasks done. 🙂

I created mine in an Excel spreadsheet, but you could use any word processor, or just a paper calendar to map out yours.

Here’s a blank copy of my Excel spreadsheet so you can try this exercise for yourself! (If you don’t have Excel, you can still download the spreadsheet, then open it in a Google Drive Sheets spreadsheet.)

Here’s a blank copy in PDF format if you prefer.

I hope you find it helpful…or at least eye-opening.

Time-management pundits are always harping on how we waste time reading emails first thing in the morning. I think they’re full of manure.

First of all, a Marketo study found that 58% of people read email first thing in the morning, many reading email before they even eat breakfast. Is it just addiction — or is there a good reason for it?

As a small business owner, I have a HUGE reason for reading email first thing in the morning: my customers matter to me more than anything. Most of my clients, students and mentoring group members communicate with me via email, so taking care of their needs first thing in the morning is simply good customer service.

Why do the time management folks act like email is evil? Because we don’t segregate “important” email from “read this when you get a chance” email.

There’s nothing inherently wrong with reading email first, just like there’s nothing wrong with writing your blog post first each morning or doing yoga first thing or working on a major project first thing. You have to pick your priorities and you have to focus on the task at hand. It’s all about goal setting and self-discipline.

• For instance, I do not use my personal email address when signing up for ezines and email newsletters. That way, my personal Inbox doesn’t get crowded with non-essentials and stops a lot of spam from ever reaching me. If something is in my personal Inbox, it’s because it’s important, like an email from a client, student or my business partner. (A colleague told me that she has 2,500 new emails each morning. My question to her is: WHY do you allow so many emails get into your personal Inbox? They can’t possibly all be of the same importance level.)
• Another reason I read email first is that it’s the only real quiet time I have during my working hours. Typically the phone doesn’t start ringing until 9AM and using the pre-phone time to read email allows me to focus.
• I’ve delegated much of my email reading to my business partner who handles any routine customer service questions from people who have bought my ebooks or audio programs, or students who have lost their login ID.
• I quickly scan my new emails and only answer those ones that are most urgent. I leave the rest of them for later in the day, after I’ve done my other daily prep work.
• Finally, I read email first because it’s when I’m the freshest and smartest. Do you really want to be writing emails when your brain is fuzzy?

If email is an important part of communicating with your customers then go ahead and read it first thing. Just pay strict attention to whether you’re keeping focused on the Communicating With Customers task or veering off to read articles, news, jokes, quotations, or watching YouTube videos of Surprised Kitty instead of doing your work. Set a time limit, say 30 minutes, and get through the most important emails first.

At this time of the year, we’re encouraged to set our business goals for the next 12 months and beyond. But when I speak with small business owners, you consistently tell me that you can’t figure out what the future of your business looks like. You can’t imagine a year from now, and you certainly can’t imagine three or five years from now.

I think you’ve put the cart before the horse. Instead, first figure out what you value, then design your next year to create a meaningful life and career.

Here’s an eye-opener exercise that’s sure to help:

Take a piece of paper and divide it into thirds. (Here’s a More/Less Worksheet PDF you can use.) In the first column, write down all the things and feelings you’d like more of. In the middle column, write down what you’d like less of.

Don’t try to do this exercise in one sitting. Instead, do a quick, initial brain dump of your wants and needs, then walk away and let it rest for a few hours. Come back later to review your worksheet, and continue to add items as they bubble up to the surface.

Once you feel the first two columns are complete, fill in ideas for projects that will help you achieve what you want from the other columns. Here’s an example of a More/Less Worksheet completed, to give you some guidance.

At this stage, just list ideas for any and all projects that could help you achieve what you want. If you begin to edit your thoughts, you might remove a project before you know whether it would be viable.

Slowly, your future unfurls before your eyes. By imagining what you want more of and less of, you begin to imagine a future that’s exactly right for you.

There are times when you’re not sure what you want or how to get there. That’s okay and you might find this blog post intriguing, a different way of looking at the situation.

Do you have an area in your business that you want to grow or change? Sometimes it feels like you can’t get there fast enough.

Setting goals can seem intimidating until you realize goals are simply statements of results you want: be more profitable, finish a big project, launch a new service, or help more clients. It’s more than a mere wish list; it’s stating exactly what you want, and what you’re willing to work towards.

The trick is to get from goal setting to goal attainment. That’s where you hit potholes and brick walls. Being a planner rather than a jumper will get you quicker results.

Start with Big Picture Goals

Before you jump into details, start with big results you want for your business over the coming year. People often confuse goals with projects, and the easiest way to split them apart is to ask yourself some questions.

• What results are you trying to achieve and why (goals)?
• Which vehicles will you use to attain those goals (projects)?

For instance, say your goal is to launch a new class. But there’s a reason you’re launching this new class, right?

Maybe it’s a free class to build your mailing list. Your goal is to build your list; your project is to create and offer a free class.

Or maybe it’s a paid class to show your expert status and build income. Your goal is revenue generation and visibility; your project is the paid class.

By asking yourself why you want to achieve something, you get to your core goals.

ACTION STEP: Pause for a moment and write three big goals you have for the next 12 months.

Brainstorm Your Projects

Now that you have your goals in mind, let’s talk about how to achieve them. There are many paths that will lead you to the same goal. Choosing your projects wisely will help you get where you’re going.

Start by brainstorming all the projects that can help you achieve the same goal. For example, say that one of your goals is to build your expert platform and to get known. You could boost your blog audience, write a book, teach a class, do more speaking engagements, start a column in a national magazine or website, hire a PR firm, or create a podcast. All of these things will show you’re an authority in your field.

How do you know which projects are the best ones to tackle? Here’s a checklist to help you decide:

• Which ones inspire and excite you?
  
• Which ones align with your personality, knowledge and skill set?
• Which ones match the way your audience likes to connect with you?
• Which ones fit your budget?
• Which ones are likely to get you to your goals the fastest?

ACTION STEP: Pick one or two projects to work over the next year.

You can always add more later, but choosing too many projects will overwhelm you and cause you to lose focus. Start the year right: don’t overburden yourself.

Tap Your Task List

Write a list of the tasks to complete for your project. Next to each task indicate whether it’s a task you will do or whether you’ll need to outsource it to someone else. Also note whether a task will require a specific resource, like hiring someone to update your website, or taking a class to learn a new skill.

Say that your project is to create a new class. Tasks might include writing a lesson plan, creating worksheets or a student guide, selecting a teaching method, picking dates for the class, setting a price for the class, creating a marketing plan for the class, etc.

ACTION STEP: Take one of your projects and begin writing a To Do list of tasks needed to accomplish that project.

Next, organize the tasks into a logical order. Let’s use the class design project as an example. You’ll need to write a lesson plan so you know how long the class is, and what you’ll cover, before you can set the price or write your marketing copy. And you’ll need to write the marketing copy before the sales page can be put up on your website.

Tally up those tasks and the timing for each one, and calculate when the project is likely to be finished. Allow for some “stretch time” in your action planning; you never know when you’ll hit a bump in the road that might delay your project.

ACTION STEP: Organize the tasks, and take an educated guess as to how long each task will take.

Get Moving, It’s Easy

You have an action plan for your project. That’s great!

Now it’s time to start implementing that plan. This is a place where many people freeze. You look at your To Do list and it feels like climbing Mount Everest. Don’t look at the totality of every task on your list. It’s not possible to do all those tasks simultaneously, so step back and focus on the very first task.

ACTION STEP: Look for one action you can take right now. Just one action, no more.

If your project is to write your marketing copy, your one action might be to write the headline. If your project is to create a profit model for your class, your one action could be to calculate your costs so you know your class will be profitable.

By breaking projects and tasks into small increments, you achieve everything – on time, on budget, and with grace and satisfaction.