Last August I shared a great tip with you on how to make more money online.
This month I'm celebrating 10 years blogging, and the topic came up again recently in Brainstorming Hour, so I thought we'd revisit this topic - with some actionable tips on how to apply this super simple strategy to increase your revenue - fast.
As I mentioned in the original post, the habit of starting each day with a Money Task is what keeps my online business moving forward and consistently making money. The question came up this week, "How do you define Money Tasks?" GREAT question. I qualify mine in one of two ways: direct and indirect money tasks...
The reason I start each day off with a Money Task is simple: no matter what else happens, I'll have accomplished something that moves my business forward.
No matter how small the task, taking that daily action is what has kept my business (and revenue) growing consistently over the last 17+ years.
As I mentioned, there are two types of Money Tasks - direct and indirect.
Brainstorming information product ideas, or scouting new affiliations, would be indirect. Promoting one of those products = direct. Either way, you are taking an action toward strategically growing your business and/or your revenue.
How To Choose Money Tasks You Should Focus On:
The specific Money Tasks you focus on will depend on your business model AND on your current objectives. The first step is to figure out the ONE thing you really want to accomplish in your business - some major growth, launch or milestone.
Get a specific goal in mind.
Once you know WHAT you want to accomplish, you can easily outline the HOW.
You'll outline your Money Tasks around that one single objective, that main goal. Start by making a list of everything related to achieving that goal, then break each major part of the process down into micro-tasks (the smallest possible task).
How To Prioritize Your Money Tasks For Strategic Growth:
Once your have your objective or goal established, and the tasks to achieve that goal outlined, prioritize those tasks in the order that makes the most sense.
Let's say you're going to create an info-product, for example. Break it down into the smallest possible tasks, and put them in the order that makes the most sense, such as:
- Choose a topic
- Decide on a title
- Register the domain name
- Create a rough draft of the outline
- Turn your outline into a Table of Contents
- Use your Table of Contents to create Chapter Headers
- Make notes for each Chapter with ideas, or the main point
- Flesh out one chapter (rough draft only, edit later)
This really helps you stay focused on your priorities, and move forward toward that one goal consistently by taking daily action... one task at a time. And by breaking it down into the simplest/smallest possible micro-task, you can work on the project in 15-30 minute Time Blocks without getting overwhelmed.
Examples of Direct and Indirect Money Tasks:
"Do you consider writing content for your own product/program a Money Task, or do you only count it when you're actually promoting the program?
If you do Public Speaking, is making contacts a valid thing to check off your list, or do you feel you actually have to get a commitment for an engagement before it qualifies? Does a blog post with an affiliate link count as a Money Task?"
Examples are really helpful, hey?
The key difference between indirect and direct money tasks is whether it results in immediate revenue/profit (direct), or it's a task that will grow your business / increase your revenue long term (indirect).
Here are 20 specific examples of both direct and indirect money tasks that will help you grow your business and increase your revenue consistently:
- Direct: Publish a product review with a strong recommendation.
- Indirect: Tweak your opt-in copy to increase conversions.
- Direct: Email your list with a great offer/opportunity.
- Indirect: Set up a mailing list & add the opt-in form to your site/blog
- Direct: Create an autoresponder series for your mailing list.
- Indirect: Strategic Social Networking to increase your reach.
- Direct: Promote something specific via Social Media.
- Indirect: Brainstorm Info Product Ideas
- Direct: Set up a sales page with a buy button
- Indirect: Write/Outsource the sales copy for your product.
- Direct: Set up an affiliate program for your product/program.
- Indirect: Map out your marketing plan & promotion strategy.
- Direct: Recruit affiliates for your affiliate program.
- Indirect: Content Marketing to increase your traffic.
- Direct: Content Marketing with a monetized call-to-action.
- Indirect: Find, connect with & communicate with brands in your niche.
- Direct: Send a pitch/proposal to a merchant or brand.
- Indirect: Research, Studying/Learning something related to your goal.
- Direct: Setting up a Joint Venture.
- Indirect: Install the "Subscribe To Comments" plugin to increase engagement in your blog comment area, to build a more engaged/loyal readership.
These are just examples of course, and as I mentioned above your tasks/goals will depend on your business model. I try to do a "direct" Money Task every single day, but indirect Money Tasks are just as important for the overall growth of my business and revenue - so I generally choose the highest priority task I can do to move forward based on my current objectives.
What about you?
What do you consider key Money Tasks in YOUR business?
p.s. If you want your tasks laid out for you every single week, in order, to take your online business to maximum profit potential as quickly as possible... then you'll want to check out my Niche Success Blueprint Weekly Training Modules.
It's a super easy way to stay on track, simply by studying your module and implementing the tasks you're sent each week. You'll love it!!