Implement these three simple strategies to maximize your income with a highly leveraged business.
Build A Residual Cash Cow:
Promote products and services that pay you recurring commissions, whether it be a network marketing opportunity or a simple tool like an e-mail autoresponder. The key is to do the work once (or refer someone once) and get paid over and over again.
(Ideally, start your own membership site or continuity program.)
Education based subscriptions are one of the most highly leveraged business models.
With the power of the internet, it’s now easier than ever to outsource all of the busy work in your home business.
Focus your efforts on ONLY the MOST PROFITABLE activities in your business and outsource everything else.
This might seem a little uncomfortable at first as you let go of total control, but nothing will have a greater impact on your bottom line than outsourcing all of the brainless daily activities that eat up your time.
Find great virtual teammates at sites like Elance.com and ODesk.com.
Your goal should be to never do the same work twice in your business. If it can be automated, automate it!
Here are a few simple examples to help you grasp the idea:
- If you are teaching something to business partners or teammates, don’t teach ten people individually, create a video training series ONCE and you’ve now freed up countless hours.
- Use tools like sales letters to do all of your telling and selling for you. Only speak with prospects that are ready to buy!
- Create an FAQ or “Frequently Asked Questions” section on your website with all of the most common questions your customers have and refer them their instead of spending two hours explaining a common solution.
There are lots of ways to maximize your income with the smallest amount of your personal time required. As an entrepreneur and home business owner, your ultimate goal should be to find ways to build leverage into your business.
Analyze every task and process in your business and find a way to outsource or automate everything.
Implement these three simple strategies and you’ll quickly reap the rewards of a highly leveraged business – more money, and more time freedom!