I was talking with a private coaching client earlier this week about one of the key relationships we must always keep our eye on, and that is between Profit & Planning. This is the key to BALANCE in our business as independence entertainers & entrepreneurs.
Focusing on Profit means doing things that produce income today. Sending out sales letters, posting & advertising on social media, sending out proposals, following up on proposals by telephone & email, doing shows, etc. are all things we can do to generate immediate income.
Focusing on Planning means doing things that will produce income in the future. Designing a new show, updating your website, writing a new sales letter, creating your business plan, designing a new brochure, are all things you need to do if you want to be profitable in the future.
It is imperative that we maintain a strict balance between these two areas. If we focus too much on creating profit today and neglect planning for the future, we will soon arrive in the future without the ability to make a profit.
On the other hand, if we plan, plan, plan, for the future and neglect to make profit today, we may not have the financial ability to take action on our plan.
IMPORTANT: A good rule of thumb is to try to do something every single day that produces a profit. Make this activity in your daily planner with a dollar sign ($).
At the end of the week, it’ll be easy for you to see exactly how you did. You’ll also discover that the more dollar signs you have in your planner, the greater your income will be.
Try it this week & let me know how it works out for ya!
Do What You Love
& Love What You Do!