4 Top Income Producing Activities You Need To Be Doing Today

There’s a huge difference between activity and productivity. If you aren’t focused on income-producing activities your business can struggle to get off the ground. Being focused on income-producing activities can make the difference between success and failure in your business. In this post, you’ll learn the top income-producing activities that can help your business thrive.

What is an income-producing activity?

As I mentioned above, there is a huge difference between activity and productivity. Most people end up doing lots of meaningless tasks throughout the day and think they are building their business. For example, they might organize their desk, re-arrange their files, alphabetized their leads, or a number of other things that don’t actually produce results.

If you remember back in your school days and getting stuck with busywork, it’s like that. You seem to be “making progress” but it’s progress on things that don’t actually move your business in the right direction. It doesn’t matter what kind of business you have, there are going to be activities the will lead to profits.

It’s your job to figure out what those activities are, and then make a consistent daily habit of doing those activities. In this post, you’ll learn some of the best ones I recommend you make a part of your daily habits. Your business will likely have unique income-producing activities that you should focus on in addition to those mentioned.

Often you’ll realize your top income-producing activities are ones you might dread doing the most. Unfortunately, this can sometimes happen, but a great way to get over this is to do them first thing when you start your day.

One of my favorite books on this concept is called Eat That Frog, by Brian Tracy. Grab a copy on Amazon here.

The first top income-producing activity you should be focused on is making your list

When you first start your business your list of prospects mostly consists of friends and family and acquaintances. A common mistake that people make when they are new to network marketing or home business is that they pre-judge their network.

Your list can be one of the biggest assets in your business. When it comes to building your business there is a difference between warm market vs cold market. Your warm market list is a great place to start and doing a “phone dump” or “Facebook dump” can give you hundreds of leads.

Putting this list down on paper is also key. Most people say things like, “My list is all on my phone, why would I need to write it down?” This might seem logical and that you are just wasting your time repeating the task of writing down your list, but there are hidden benefits.

For example, when you present your business to someone and they say no, you might feel defeated. It’s normal, no one likes rejection in sales. Thankfully one great way to get rid of your fear of rejection is to have a huge list you can still contact. I know for me one thing that always demotivated me was the feeling that I had no one to talk to about my business.

If your list is fully written down you can see it and the hundreds of names left. This can really help you stay motivated and realize that one no, isn’t a big deal. Sales is a numbers game and when you use the law of averages to your advantage, it makes it less frustrating.

Don’t prejudge your list

A side note when it comes to making your list is that you shouldn’t pre-judge your contacts. Pre-judging your contacts immediately limits the potential of your business getting off to a fast start.

Most people discount their contacts and decide in advance that they won’t be interested in their business. For example, with network marketing, you might think someone is too successful, or that they don’t have the money, or maybe that they aren’t motivated.

All of these reasons might be the exact reason they do get started. They are too successful, or that they have a ton of stress and responsibility that it is ruining their personal life. Therefore they are looking for a change.

Someone with no money might be looking for a way out of that situation and would do whatever it takes to change it. The reason someone isn’t motivated might be that they have not have found the right vehicle to be motivated about.

Your job is to simply show your list not to decide if they will do your business or buy your products. Simply ask if someone is open to what you have and then if they are present your business if they aren’t, then move on to the next.

The 2nd top income-producing activity is increasing your list and networking

The second part of making your list is to always be adding people to your list. This income-producing activity can take many forms. For example, you could do this through offline networking, meeting people at the gym, or through others, that you meet out and about.

Most people struggle with what to say and how to transition naturally to their business. The key is to find a pain point and then transition to your business or services as the solution to that pain point.

I cover this strategy in-depth in my FORM Recruiting Machine Blueprint course. This course covers the exact scripts you can use to add people to your list, and how to set up sales presentations naturally.

Building your list can take place through online social media sites as well. A quick technique I like to use is adding people on Facebook on my smartphone. After I have had a conversation with the prospect I just take out my phone and open my Facebook app and hand them my phone. I click on the search option first and then just have them type in their information and find themselves and add themselves.

With this approach, it makes it very easy to follow up with them down the road either in a few days or when the timing is appropriate.

Setting up a lead generation system to grow your list on autopilot

You can also add people to your list through lead generation online. The extra benefit to using lead generation as a strategy to build your list is that people are coming to you vs you hunting them down.

When you reach out to leads that have opted-in on a lead magnet of yours, it is a totally different relationship than cold market prospecting. When you generate passive leads through online marketing, you are already positioned as an expert.

As you reach out to your leads you generate, it’s like you have celebrity status with them. This makes these leads much more receptive to your offers. Also, prospects are likely already pre-qualified for what you sell when you use the right lead magnet.

For example, if you had a yoga business, and your lead magnet was a 10-day yoga flexibility video series, people who download that are likely interested in yoga-related things. So if you sold a 30-day virtual yoga Bootcamp, the leads you generated would likely have a high interest in your offer.

Provide value to the marketplace with free training or a guide in exchange for their contact info. Doing this will help you generate leads on autopilot and build your list passively which is one of the top income-producing activities you should be doing.

The 3rd top income-producing activity is inviting your list

Inviting is possibly the most crucial skill you can develop in your business. There are several things you could be inviting people to. It could be inviting people to a sales presentation, a video presentation, a webinar, and the list goes on and on.

You can also invite people to your list if the timing isn’t right for a sales presentation.  For example, you can ask people if they want to get free training, attend a coaching webinar,  or simply join your newsletter list.

You don’t always have to be inviting someone to a sales presentation. It could be just inviting them to become a part of your newsletter list that can sell them on the benefits of working with you in the future.

You then let your email series do the work of pre-qualifying your lead for you. Then in the future either you can reach out to them again, or they also can reach out to you if they are interested.

The bottom line is that you want to be continually moving prospects along in the sales process. When you master inviting you can do this in a natural way without being salesy or pushy. You can do this in person, or through an automated method like email marketing. Check out the video below that goes into detail of how this email followup process works.

The 4th top income-producing activity is to work on your personal development

Your Business And Success Will Only Grow To The Point That You Do. Click To Tweet

Obviously the daily habits you create that focus on action steps and income-producing activities are important. However, most people neglect the income-producing activity of personal development.

It might not sound like it is an income-producing activity, but personal development can make a huge impact on your earning potential. People who become top-earners in their industry don’t get there by accident. They take consistent action, but also combine that with becoming the person they need to be to achieve those high results.

Everyone has the same 24 hours in a day, they just do different things during those hours. Successful people are focused on the right income-producing activities, and continually improving on their value.

Your income will be determined by the value you put into the market place. Click To Tweet

The good news is that you don’t need to spend hours each day on personal development, just a little bit will do. Just like the rest of the income-producing activities covered in this post, doing them consistency is what makes the biggest difference.

With personal development, you could simply spend 15 minutes a day on it and start to see large improvements over time. Another option is as simple as reading 10 pages a day of a good book in your industry and niche.

At 10 pages a day you can read one to two books each month. Imagine how much your skills and knowledge would improve after 12-24 books each year. After a few years, you could learn what most people do in an entire career.

Check out this post on my recommendations on the top personal development books every business owner should read.

Conclusion

Overall, the top income-producing activities consist of making your list, building your list, inviting your list, and improving your skills. When you do these activities on a consistent basis over the long term, your business can succeed.

If you have a hard time staying consistent, make it a habit to do these activities as the first thing you do each day. When you attack your day and accomplish the most important things first, it’s hard to fail long term.

Certainly, every day won’t be perfect, and some days will be more productive than others. However, when you focus on these top income-producing activities, results will start to come.

Your habits will make you or break you. Click To Tweet

Decide to do the right activities and become the leader you need to be, and watch the success you create!

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Mike MacDonald

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