Productive Business Time Management – Avoid These 3 “Time Bandits”

Business time management is a skill that every business owner must learn if they are going to survive. I call activities that my clients perform, which yield no productive results, time “bandits.” Unfortunately, MANY of these time “bandits” exist, however we are going to focus on just 3 of the most counter productive.

1) Allowing Too Many Distractions

This time “bandit” is #1 on the most unwanted list! The sad thing is that some business owners feel helpless against distractions.

The key is to MINIMIZE and avoid distractions. Distractions are virtually impossible to totally eliminate.

If your distractions are non business related calls, let friends and family members know the times when you will be taking calls.

Typically, continually reading email is a major distraction. ONLY read and respond to email during scheduled times, and KEEP to it!

One key is to write down daily priorities, and refer to them each hour.

2) Non Productive Meetings

Meetings are all too often, very lengthy and fail to accomplish an objective. Be certain that a meeting has a facilitator, and that they are aware of the purpose and the amount of time set aside for the meeting.

The meeting should have a written agenda, with the time allowed for each topic. Most importantly, DON’T have a meeting for the sake of having a meeting.

Being specific about the purpose of the meeting is critical to effective business time management.

3) Avoid Information Overload

This time “bandit” is very common to new business owners, and particularly new Internet business owners.

In an effort to determine the best possible ways to market and manage their business, owners seek out information from too many sources.

Often time, the information is incomplete, or contradictory. This leaves the business owner in an ongoing state of being “pulled” in all directions.

The key is to ONLY gather information that is appropriate to a specific topic or activity. DON’t “jump” around trying to find information on random topics and unrelated activities.

In the end, effective business time management is all about being consciously aware of the activities that are crucial to the success of your business, and spending the majority of your time on those activities.

Information Product Creation – Why You Must Come Up With New Ideas For Your Info Products Business

Information product creation can help you to build an inventory of products to sell over and over again on the Internet. The problem comes after you have created several of these info products and feel like you can’t come up with anything new. In order to grow your business, and your online income, you absolutely must come up with new ideas that can be turned into new products and courses on a regular basis.

The people on your list may already know what products you have available, so think of what else you can create in order to keep them interested in what you have to offer them. You want to be thought of as being on the cutting edge of your niche so that you will continue to be the go to person for information and ideas.

That is one of the reasons I started attending so many live and virtual events beginning in 2007. My target market began to see me and hear about me everywhere, adding to my credibility as someone who could help them to get started online with a business. You may not want or be able to attend several in person events each year, but you can always show up virtually. Look for telesummits and other online events where you can participate. If you do not see exactly what you want, create your own event and invite others to join you. A huge part of being an entrepreneur is being a leader in your field.

To start making money more quickly, and to get the people on your list used to the idea of spending money with you, start offering other people’s products and courses through your affiliate link. Affiliate marketing still accounts for about half of my income each month, and it is an excellent way to think of products you can create that will cover what other products do not. Think of this as a stream of income that will also bring you new ideas. In the future, when your own products are ready, see if those you have affiliated for will be interested in promoting you this time around. This can be the beginning of joint ventures and strategic alliances that will last for years to come.

Listen to your prospects and clients as to what type of products you should create. Remember that if you do not provide your people with what they want to learn, they will most likely find it from someone else. Becoming a good listener will help to increase your bottom line.

My first course came out in the Spring of 2007, so I began to think of offering my products on a seasonal basis. You can do the same thing, planning ahead so that you will have something new for each season. While your prospects are away on Spring Break or summer vacation, you can be creating products for them to purchase when they return. It’s all about serving their needs and solving their problems. Keep people interested in what you are doing, and even share the information product creation process with them as you go. This will help you to set yourself apart from your competition on the Internet.

Promotional Golf Products – Business Strategist’s Toys

The game that is most loved by business strategists is golf. Its appeal to them is attributed to the fact that golf employs a lot of strategic planning which refers to the managerial function that focuses on the crafting of long-term plans. The art of strategic planning takes into consideration the nature of the market such as the terrain of the game, the strengths and weaknesses of the opponent, the business environment which could be translated to the weather, wind, and humidity during the game, and above all the opportunities and threats that could be maximized and surmounted by the player through the employment of his strengths and minimizing the impact of his weaknesses. In golf, battles may be lost but the war should be won. To the business strategists, there are no better gifts than promotional golf products.

The Recipients

Premium or added value is all a matter of the mind. When you use golf products as promotional gifts, you should only give them to the most deserving, let it be an emblem of your company’s continuous desire to bring the best out of your clients and contacts. You could award promotional golf products to the following people:

  • Top management of your top fifty client companies
  • The best business executive among all the executives of your industrial clients
  • Achievers in their fields among your individual clients
  • Top fifty best individual buyers in terms of bulk and punctual credit payments

You can even a sponsor a golf event that could be attended by friends and families of your customers where they could do the following:

  • Play the game
  • Learn the game
  • Watch the masters you have invited to play

Top Quality Choices

Businessmen and businesswomen have strong biases for top quality. They are quite discerning when it comes to the added and real values of the promotional golf products they would receive. Spend quality time and money on the right items which could include the following:

  • Golf balls they could showcase in their offices and homes or use during their games
  • Golf clothing such as shirts, pants, and shorts with your company name and logo printed on them. They would surely attract the attention of your client’s playmates and opponents.
  • Umbrellas they could use as they walk from one hole to another
  • Headwear such as gold caps bearing your emblem
  • Useful golf tees that emblaze with your company name or logo
  • Golf clubs that would make any other player salivate with envy as they see your logo or name

Video Production Business Tip – Marketing Ideas to Grow Your Business

One of the things I’ve learned in almost 20 years of being in the video production industry is that if you want to be crazy successful, you need to find certain “accelerators” that can propel you forward in ways traditional marketing can’t or won’t.

Here’s an example of how I used an “accelerator” marketing tactic that has the potential to be a huge revenue boost for my production company this year.

I recently wrapped up and delivered a kick butt fundraising video for a local non-profit. It just so happens that this chapter is just one of more than 800 within the same organization worldwide. When I delivered the DVDs to my local client, I asked them the following questions…

1. Do you compete with other chapters associated with your organization? Or, do you each have your own territory without any overlap? The answer was that there was no competition between chapters. (great news)

2. Do you think other chapters would be interested in having a similar fundraising produced for them? The answer was an astounding YES!

3. If you are okay with using your video as the “template” that we can customize for each chapter’s specific needs, would you be open to us offering it at a discounted price since most of the hard work has already been completed? The answered yes again.

4. If we offered other chapters a price of $2,500 to customize the video, would it be okay if we gave $500 of that revenue back to your local chapter since you are the one that took the risk in the first place to pay for the original production? They love this idea but have to check with headquarters and their local board of directors to make sure it’s okay for them to collect money in this fashion. They paid $3,500 for the production so the other chapters would get a discount of $1,000 which is pretty good.

5. What would be the best way to get this in front of all the other chapters to see if there is any interest? At this point in the conversation, their wheels are turning and they said they’d have to get back to me with what the best approach might be for this.

When I’m working on an “accelerator” for my business, I like to do a “What’s the revenue potential if I get 100% of the chapters wanting to customize the template?” exercise. Of course, we won’t come anywhere near this but it’s still fun to dream at the front end of the deal.

800 chapters x $2,500 = $2,000,000

Wow! So this shows me the upside of the potential here. Now, let’s look at what is probably the worst case scenario… 1% decide to take advantage of our officer.

800 chapters x.01 = 8

8 chapters x $2,500 = $20,000

In my mind, the worst case scenario is still worth the effort as long as I’m smart as to how much time and money I put into getting these new customers.

The other cool factor is that even if I only get a 1% return on the initial push, there is still 99% of that micro niche market that I can approach with future marketing efforts over time.

If you think about it, you can apply this approach to just about any type of video you produce for your customers in your video production company.