Do you have a strategy in place for the financial success of your memoir business? Memoir work attracts idealistic people who often have few business skills. This article focuses on five skills-building questions a memoir professional ought to ask himself/herself to accelerate his/her financial success. They are five important questions but not necessarily an exhaustive list.
5 Questions to Accelerate Your Financial Success
1. Is what I am doing right now likely to lead to income? Many people squander precious time doing tasks other than marketing or product development. Only these marketing or product development strategies lead to income.
2. Am I keeping an account of the time I am spending at marketing and the income it is generating? This is important to tabulate as it will show you whether the ratio between time and income is lucrative or impoverishing. No matter how many times people tell you that your products are wonderful, unless they generate income, your business will fail.
3. Am I confusing what I am good at and what I enjoy doing with what is bringing in the cash? While we do not start a small business to spend our time doing what we don’t enjoy doing, we also must not think we are now in summer camp with the whole day off to do what we want. Your task is to find ways to make what you enjoy doing and are good at more lucrative or conversely to make what brings in the income more interesting to you.
4. Is my marketing filling the pipeline for future clients? Most people who become clients do not sign up immediately. Usually, it takes a while for the conversion to occur. During that waiting time, you need to maintain contact with these individuals who are in our pipeline. Often this is done with a newsletter or mailings-most usually now electronically.
5. Am I nurturing my existing clients so that they buy additional products from me? Existing clients are always the most lucrative to market to as they already know and trust you. Never compromise an existing relationship for a potential one.
Spend the time now to make your business strategy plan and then put it into action to achieve financial success!