Have you ever seen other women business owners making more money, and wonder how you can do it too?
It turns out there’s no real mystery to it other than simple everyday habits.
Now, if the word “habits” makes you wince a little, I get it. It sounds like a lot of work.
But it’s true what they say:
If you can stick with a new habit long enough, you’ll forget it’s a habit.
Good habits can definitely help you make more money and still have time to spend with your family.
I know because I made it my mission to double the revenue of my business last year. At first, I got tripped up by thinking I was already doing everything I possibly could. I was also making excuses for why I wasn't seeing the success I really wished for.
I couldn’t grow my revenue because I was too focused on all the things I “had to do” and not on the things that were going to actually move the needle forward.
So if you’ve been struggling to grow your business to where you want to be, you’re not alone. Most people have a hard time know where to focus their time and energy to maximize their business growth and generate more revenue.
The real key to success is having a routine you can follow without fail. Having great routines is actually the key to having more time.
Read on to discover 3 easy business habits to help you make more money.
#1. Track and measure everything to actually make more money.
Honestly, at first it was hard to follow through with this one because I wasn't used to it.
However, scheduling time to track your sales, profits, costs, and productivity is critical for making more money in your business.
So if you find it challenging to incorporate into your routine, you’re not alone.
Most business owners find that using their time for tracking data to be arbitrary. Let's go there, there are so many other uses for it.
But remember, you can’t make more money without knowing exactly how you're spending your time and money.
Here’s the good news:
You don’t need to spend hours a day tracking every portion of your business.
Start off by committing to tracking your expenses and profit for each month. Taking just 30 minutes one time a month to have a better understanding of where your money is going, how you can cut costs and different ways you could bring in more revenue.
Once you make it part of your routine, it will become a regular habit that you no longer dread or fear doing!
You can also set clearly defined goals to help you track your money every month.
Keep in mind that this looks different for everyone, so what works for someone else may not work for you.Tthat’s okay. All you have to do is commit and the rest will follow.
Start out by picking a day in the first week of each month. On that day, review your finances from the month before.
Having a support system will help you stay accountable.
One of the best decisions I made while trying to get into the habit of tracking my money more regularly was having my husband keep me accountable. I added my monthly data tracking time to our joint calendar.
This helped me to stay accountable to myself because he would follow up with me after the fact.
And if you’re really ready to set tracking your business in stone, add it to your calendar to lock it in so you always set aside time for it.
Download your free Productivity Planner by clicking here.
#2. Focusing on Income Producing Activities
I underestimated the power of being able to focus, but it's crucial to your success so worth paying attention to.
Valuing periods of focus is critical because your brain clears away the day's debris.
When you don’t take time to focus on needle moving tasks, you’re likely to choose to do things that are “important” but not necessarily income producing activities, which undermines your ability to make more money.
This will ultimately lead you to burnout and potentially believing your business isn't worth having any more.
[Expand on why this happens – e.g., a sleep-deprived brain can’t function at 100%].
So even if you think you're taking time to focus on your business make sure you set aside times to do the actual income producing activities.
If you’re having a hard time focusing on income producing activities, try to:
- Eat the Frog- Start with the one that brings you the most dread, takes up the most time or that you're most likely to procrastinate on.
- Create a schedule- Schedule your IPAs (Income Producing Activities) into your weekly schedule.
- Keep a list of them (click here if you'd like a list to get you started) and when you find you have a free minute, pull it out and start checking activities off.
#3. Build and maintain relationships
This one can be extra challenging, especially if you’re used to working your business and keeping to yourself.
I use to be so focused on my business and my daily to do list that I didn't realize how much I was missing out on by not creating AND maintaining relationships.
You may think that spending time building relationships on social media or attending in person groups is distracting from your business growth, but the truth is that those very relationships are what will propel your business forward.
When you network and make connections, you you increase your reach without having to know everyone yourself.
Even if you join an online community it will boost your network and motivate you to keep going…
Here are a few other ways to build and maintain relationships:
Join an online community- Business owners can collaborate with other members of the community on projects, partnerships, or even joint ventures. Collaborating with others can help to expand the reach of a small business and bring in new clients or customers.
Look for a small business group in your area- By participating in online communities, small business owners can establish themselves as experts in their field. Sharing their knowledge and insights can help to build their reputation and credibility, leading to increased visibility and potential new business opportunities.
Follow up with relationships you've already built- Running a small business can be challenging, and it can be helpful to have a community of people who understand the struggles and can offer support and motivation. When you follow up and check in with your fellow entrepreneurs, it helps grow your relationship.
Making more Money
Whether you’re new to building your business, have been at it for a while, or you just want a way to make more money, these habits will help you [big goal they have].
All you need to do is stick to a routine.
Remember it takes time and dedication, and failure is part of the process. So if you go off track at any point, that’s completely normal. Don’t beat yourself up and lose time worrying about it. Get right back to it. You got this!
To help you stay on track, I created a free planner. It’s a step-by-step blueprint for staying productive and reaching your goals.