Tuesday, October 27, 2009

Money is the Result.

So many people are focused on making money in their companies and in their careers that I thought it was important to write about how they can do this. The fundamental problem most people have is that they don't recognize that more cash, bonuses, sales, commissions and salary are results. They are an output and not an input. Therefore, by just focusing on the result of things (I need some more money personally, we want more sales this quarter) we are missing the critical focus - the inputs that create money for us.


In your job you should know exactly why you get paid what you do. What is expected of you in order to earn your salary? My experience is many people aren't quite sure. Well, you need to know in order to be able to increase your inputs to get more output (money). Talk to your boss and your co-workers, AND your clients and see what generated results for them. Then you have a sense of what you need to produce more of in order to get more money. A raise doesn't show up without more effort and results. You don't get a bonus at the start of the quarter, it's at the end when your results can be measured. So start today in knowing what you need to do to serve more people and to create more results worthy of more cash.


As a business owner or manager, how can your organization serve more clients and better serve the clients you have? So often companies think that clients deal with them because of their base product or service. Well, your clients can get your product or service from probably 50 different suppliers (or at least 5). So why are they dealing with you? You need to know in order to create more value. As you create more value for clients you create more buzz, strengthen your reputation, advance your product offering and generate more results for clients. It is a cycle. So figure out fast what you offer. Then set some new goals based on how many people and companies you will help this quarter. That is the input you control and revenue is the result.

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