As a Solopreneur most of the time you have this dilemma whether to expand your customer or sales or cut down on current expenses.
This question can lead you to deep thinking.
At this point, I encourage you to take a notebook and write down
- Your top three Activities which are leading toward increasing sales
- Your top Three Activities which are leading toward controlling expenses.
You may realize that All Six Activities listed above are consuming your resources in one way or another. In some activities, you are shelling money and in others, you are spending time.
Out of Money and Time, you may consider money as important or time as important depending on your situation or your place in the transition effort.
Key Question You may ask
- What is one activity which has produced the maximum result for you?
- What are certain activities which you have not attempted at all?
- Why you have not thought of increasing sales 5 Times at least??
- Expenses or Sales or Revenue: Do you know the difference and if yes, what has been your focus area?
If you could come up with answers to above questions and could prioritize your focus and efforts It shall transform your life & Business.
At this moment I encourage you to look at most successful and Most unsuccessful effort or activity at selling or controlling expenses.
If you could do the effort again, How you shall execute it differently?
Focus on increasing Sales and track your expense to sales ratio. Every expense you make on increasing sales should lead to increased Sales.
Notice that Sales shall take some time to come so you might want to do quarterly ration of Expenses vs Sales to better track your efforts.
If you need help with the above questions or need help in transitioning to Business World from Corporate World I can surely help as I have tried many ways and experimented with a lot of stuff. I have learned hard way and I can save you from frustration and wasted time
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