As we head into the first quarter of a new year, it’s important for business owners to be able to pinpoint which of their day-to-day tasks actually generate revenue. Generating revenue is different than productivity. Answering emails, taking phone calls and client meetings are all productive; but not all of those tasks can be directly tied to an increase in revenue.
In the video below, Felena Hanson outlines a week-long exercise for identifying which of your business activities are revenue generating.
We challenge you to do this exercise once or twice per quarter and hold onto your notes. By mid-year, you will have a visual representation of how you’re spending time on your business and which areas you can focus more attention on with revenue generation in mind.
Have you done this exercise before? Were the results what you expected? Let us know in the comments how you were able to “move the needle” toward a more revenue generating mindset.
Bank image courtesy of Vichaya Kiatying-Angsulee at FreeDigitalPhotos.net
