How to Manage Your Time, Be More Productive and Increase Your Income

by Yvonne Bynoe on June 13, 2013

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The reality is that you have to devote time to your business. Despite all of the hype I don’t know any 6 figure or multiple six figure business owners who have a four hour work weeks. That being said, there is a great deal of flexibility in how you structure your business. 

Productivity isn’t measured in hours, it’s  measured in the amount of profits that your business is generating.

There are many highly successful entrepreneurs who only work 3-4 days a week.  Others only work 9  months out of the year because they spend their summers traveling or with their families. Some women work the hours that their children are in school.  Others opt to work early in the  mornings or late at night since that is when they have chunks of “quiet time.”

As an entrepreneur you can’t do everything. You’re going to have to make decisions about what you REALLY want to achieve in your business.  Then you have to regularly commit to doing the activities that advance your goals.

Here are 5 steps to manage your time and be more productive

Step 1: Decide how  much time you want to take off

It may sound crazy but you should pull out your calendar and mark off holidays; vacations; family activities; conferences, etc. Once you do this then you know  how many actual work days you have left in the year.


Step 2: Decide how  much income you want to earn in the next 12 months

The figure should be a stretch but still realistic.  For instance if you earned $25,000 last year then aiming for $1 million isn’t a good idea.  Instead $35,000 or $40,000 may be a more attainable reach.

Also write down the actual number for your income goal; this makes it more concrete.  Also decide what the money is  going to be used for.  Women tend to be more successful in creating income when they have a clear idea about how the  money will be used and how it will benefit them and their families


Step 3: Get clear on what you’re offering and at what rate

Now that you know how much money you want to earn, you have to make sure that your services and prices support your goal.  For instance if you’re a yoga teacher who wants to earn $50,000 and right now you only offer single classes at $25 each; this means you’d have to sell 2,000 units of these single sessions. However if you sold monthly class passes for $250 each, you’d only need to sell 200 units to reach your income goal.

Step 4: Devote time each week to just to marketing

Aside from delivering your service, you have to devote time strictly to marketing your business, Marketing is communication that gets you clients. Marketing includes writing your ezine or blog posts; creating podcasts or videos; and creating and delivering teleseminars and webinars.  Attending networking events and conferences are also part of your marketing efforts.


Step 5:  Get a support team

Many women don’t like asking for help however it takes a village to run a business.  You can start with small, inexpensive actions.  How can  your family members help out with household chores (and childcare) so that you’re  freed up to work on your business?  Consider hiring a VA for a few hours a month to deal with the administrative tasks. If your budget is tight, look into hiring an intern who can get college credit for working with your business. 

Look at what you can buy online and have delivered to your front door. Everything from toiletries to groceries to office supplies can be ordered online for a small service fee.

If you’d like more information on how to attract more clients, generate more income and still have time for your life, download the FREE Soulful Affluence Guide for Courageous Women Entrepreneurs http://www.SoulfulAffluence.com/courageous-women-entrepreneurs

 

 

 

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Why Aspiring 6 & 7 Figure Entrepreneurs Need Coaches

by Yvonne Bynoe on May 21, 2013

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I once had a mentor who told me that if I was the smartest person in the room, I needed to move to another room.  The point was that I couldn’t grow if I wasn’t working with other people who could give me new information and perspectives.  Unfortunately many entrepreneurs remain the smartest person in the room—to their detriment.  They don’t actively reach out to coaches and mentors who can help them to grow their businesses.  They erroneously believe that they can do it all on their own.  The truth is:  Highly successful entrepreneurs regularly seek out experts to accelerate their learning curve and profits.

Many entrepreneurs are “firsts.”  They are often the first people in their family to start businesses or businesses beyond the “mom and pop” model. They may also have a string of other “firsts” behind them (first to graduate from college or grad school; first to leave their hometown; first woman or person of color to get X job). “Firsts” have learned to be self-reliant since there was no one in their immediate circle to pave the way for them. 

Although independence and tenacity are great attributes they aren’t enough for you to create a profitable 6 or 7 figure business.

Like many “firsts” when I first started my business years ago, I had a stellar resume filled with a lot accomplishments.  I however struggled to attract clients and to earn money.  I thought that I was smart enough to figure out how to create a profitable business (hadn’t I passed the New York State bar exam on the first try?). So I bought business books, read countless blogs and ezines. I also listened to a ton of free teleclasses. It should be no surprise that my business was still a flop.  Although I was able to get some information from the free resources, there was always a piece missing to the puzzle–something that I needed to know to make my particular business profitable.

I knew about executive coaches but had to clue that there were coaches for small business owners.  However the more that I dug and researched I saw that the women entrepreneurs who I admired all had business coaches.  After dragging my feet for a while, I hired my own coach, and it was the best decision I ever made. My coach showed me how to use my eudcation, talents and skills to attract clients who were an ideal fit for me.

Things that seemed very confusing to me were very clear to my coach. She had the expertise and insight to know what changes I needed to create a business that I loved. For instance by learning how price and package my services, in a matter of weeks , I went from charging $100 a hour for a coaching session (and barely getting it)  to enrolling my first client in a VIP day that cost more $1000.

If you don’t have enough clients or you’re not earning the level of income that you’d like then it’s time to get support and start making changes.

Investing in a business coach is an important step toward creating profits…or significantly more profits. There are all different types of business coaches, who charge  various types of fees for their services. In deciding on who to work with, don’t just focus on who’s the least expensive, since you may “get what you pay for.”

Instead I recommend that you focus on the type of programs that the coach is offering; the results that he or she has achieved for their clients and whether or not their style and demeanor jive with yours. Here’s a lesson that I learned the hard way: If you’re unwilling to invest in expert advice to grow your business, then don’t be surprised with people don’t invest in your product, program or service.

If you need support and guidance on how to attract more clients, close more sales and increase your income then shoot my team an email at customercare@soulfulaffluence.com and we’ll schedule a complimentary 6 Figure Money & Marketing Breakthrough Session to discuss what you want to achieve and what’s getting in your way.

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