I’m proud to say that I’ve been engaging in a mastermind environment led by someone other than me! =) It’s a short-lived group, so I do hope there are additional opportunities to continue. Still, something came up this week about profit that was SUCH A GREAT REMINDER.
As humans, the more distance that’s between our actions and our rewards, the less likely we are to connect the two. That’s why for young children, you want to reward / punish immediately. However, in business, our rewards don’t always come immediately following any specific action.
This week, I will meet with an attorney who I met digitally over a year ago. Why? I reached out to him about an article I was writing. Between you, me and the lamppost, I got a lukewarm response that bordered on dismissive. We are meeting Thursday to sign a contract and start working together. The reward was delayed…. but the article — even in its preparation — was profitable.
Recently, I was asked to speak (for free) to a local group — something I turn down 9 out of 10 times, if not more. However, this same person had me speak to a group a year ago. Did I walk away with any sales after speaking? I did not. AFTER the fact, though, from just the people in that room — I’d secured $18,000 in business… from people I’d have never met otherwise. Therefore, it was an easy yes for me.
We are in a microwave society… we want instant results and are quick to dismiss actions that SEEM to be lacking profit. (And slow to release others… but that’s another story.) If you’re asking, “Where’s My Profit?” consider doing the following:
- Make note of your top clients and where you FIRST encountered them. Be specific.
- Make note of all you did LAST YEAR to grow your business. Think hard about each and every one. Did any of them lead to profit? If so, how much profit?
- Measure EVERYTHING.
- Don’t think like a pre-schooler in their instant-gratification habit…. Rewards don’t always show up immediately. When they DO, don’t just go to the bank. HOLD THE CHECK in your hand and ask, “Where specifically did this client relationship start?”
This will not only make you a lot more money — but it will save you time and money, too. =)
