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Your Personal Economic Stimulus Package: 6 Tips to Kick
Start Your Revenue Growth
By Kim Marcille
Efforts of the Barack Obama administration aside, what is your plan to grow your own wealth? Whether youíre a business owner or professional, the prospect of creating financial success may seem remote or even impossible. If the current economic crisis seems like itís gone on forever and has you trembling inside, you may be hesitating to place your bets. That hesitation will impact your financial results in ways that you probably donít even want to think about now. So before too much time slips away, here are some ideas to take yourself and your revenue generation plan in hand and get the results you want.
1. Choose to be confident. The level of confidence you have about your ability to bring your plan to life will impact your ability to do so, and in tangible ways. One of the most likely ways, and one with which youíre probably familiar, is procrastination. Piers Steel, Ph.D., of the University of Calgary conducted an in-depth analysis of 691 research sources on the causes of procrastination. The number one cause? Lack of confidence.
Harshly judging yourself or your results can cause under confidence, and under confidence causes procrastination. You keep putting things off, so nothing gets done. Nothing gets done, and you feel badly about yourself. Applying that judgment causes more procrastination. A vicious circle ensues in which you long for results but never get them, while all along having exactly the skill set you need to create success.
As Dr. Steel says, ďThe old saying is true: Whether you believe you can or believe you canít, youíre probably right.Ē The old saying now has 691 sources to back it up. The great news is that under confidence is fixable by changing the way you measure your own performance. Thatís Tip #2.
2. Measure for guidance. Instead of using measurement to judge you or your business as a success or failure, use measurement to provide guidance for what you should do next. If you catch yourself wasting two hours in your inbox rather than on a core project you must get done, donít beat yourself up about it. Instead, learn from it. Make the decision, for example, that for the rest of the week youíll work on the project first before looking at your e-mail. If your sale results are not what they should be, look for the places where youíve created sales success. What can be learned from that? Are you more successful in one industry versus another, or one category of product than another? What could you change about your approach to take advantage of those successes?
3. Broaden your options. Whatís your Plan B? Well, maybe you donít need one. Hereís an idea: There is no Plan B, thereís only a flexible Plan A. You will achieve success no matter what you have to change about the plan in order to get there. Do you have a contingency version of your plan should it go awry? By spending some time designing some optional action steps in advance, you will relieve yourself of some stress and boost your confidence by having a safety net already in place. Also, knowing that you donít have to bloody yourself on the same frontline day after day will bring some relief as well.
If what youíre doing is not working, itís OK. Just change it up. For example, if your current revenue channels are drying up, what new channels can you invent? If your customer base is balking at your current pricing, can you create a lower-priced version of your product or service and sell it to more people or businesses? Could you reposition yourself to address a different target market? Could you pursue leads in another geographic area? Or partner with someone? This is your opportunity to reinvent yourself and your business.
4. Focus on the plan. Itís when youíre focused on circumstances outside your control that your confidence is undercut. Whether the economy is up or down, thereís not much you personally can do about it, unless youíre a member of Congress. If you focus on the difficulties presented by the current economy, those difficulties will seem magnified and insurmountable. By focusing on what you want to create Ė the results of your plan Ė instead of what you donít want to create, youíll align your efforts and energy positively with your goals.
And that focus is very powerful, because it makes you aware of synergistic opportunities in your environment that you otherwise might be blinded to because your focus is in the wrong place. While sitting in a seminar, you might pick up the perfect idea for a new product launch that will get you closer to your goals. You might hear the elevator speech of a new business associate and realize the potential of a partnership. Just by focusing on your plan, your brain will begin to search for methods by which it can be accomplished. When youíre in love, everything reminds you of your lover. When youíre in love with your plan, youíll view everything as a possible way to make it come true.
5. Take a risk. You may feel that this is the time for risk avoidance, and maybe there are some risks you should avoid at this time. However, if money canít be made in the stock market right now, should you stop putting money in your 401(k)? Many people have, losing the value of dollar cost averaging Ė buying low to offset the times when stocks were more expensive Ė they could be getting right now. Eventually the economy will revive and those low cost stocks will appreciate. A lot.
Likewise, the business risks you take now will pay back big dividends by setting you apart from your competition, building your own confidence, and preparing you for the economic recovery to come.
6. Believe. Ultimately, your belief in your ability to achieve your goals will either hold you back or propel you toward success. Believing wholeheartedly in the inevitable achievement of your goals will cause you to see possibilities, make choices and assume risks quite differently than if you are already of the belief that your goals could not possibly come true.
Give your plan every chance of success: Start by knowing that it is achievable and that you are the one to achieve it. And begin to implement it right now!
Kim Marcille is an expert on the science of amplifying possibility into reality. A renowned speaker and consultant, Kimís 25-year background in business leadership ranges from Fortune 500 experience to small business ownership. Sheís founder of Possibilities Amplified, Inc., and author of, ďAmp It Up! Secrets from Science for Creating the Life of Your Dreams.Ē Kim is formerly vice president of new initiatives for the Miami Herald Media Company, and former CEO of Catalyst. For more information and to sign up for Kimís Possibility Tips newsletter, visit www.PossibilitiesAmplified.com or e-mail Kim@possibilitiesamplified.com
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