Are You Fit to Monetize? 5 Ways to Trim the Fat
Have you ever said, “I can do so many things well, I don’t know what service or product to offer?”
You fall into a large percentage of highly talented people who are extremely competent in areas that are not their strengths. As a gifted learner with a commitment to excellence and efficiency, you know how to do a lot, and perform it better than most. Your challenge when you want to start a business where the product is YOU, is narrowing the scope so you can communicate, deliver, and receive an equitable value exchange, i.e. make money, from the value you deliver.
Here is what I know. You can’t monetize what you can’t define and communicate. Here are some quick tips to “trim the fat” or excess that keeps you from really thriving…when the product is YOU!
1. Get More Good JuJu = Energy Flow. When you are working or participating in an activity that’s easy, fun, and makes you feel like YOU, notice it. Describe it. Identify the outcome you create when you are engaged in that activity and how it will translate to a customer setting. Hint: Your strengths make you feel the most YOU.
I often hear people say “I am such great connector! It comes so easily and I make killer introductions.” This is good JuJu. To monetize this strength means you need to identify the results of this activity and why this makes your value quotient increase, i.e. you are a great connector and see opportunities others overlook. You take the time to facilitate the connection and communicate in a way that both parties see the value in the exchange. You model and lead by example leaving what I call, a “value trail.”
2. Cut the Bad JuJu = Energy Leaks. Notice things that drain you, frustrate you, create a state of overwhelm or procrastination. These are activities that might be fun when you start but lose their appeal quickly. Describe them. Think about what motivated you to yes. When you say YES to tasks like these, you say NO to YOU.
One of my mentors used to say “Just because you can doesn’t mean you should.” If the activity is not your favorite thing, you shouldn’t be doing it. (Note: Sometimes we do have to perform activities that are not our favorites but it should be with the intent to do less of them as we grow our business or income.)
3. Pace Yourself. Doing life at Mach 10 with your hair on fire doesn’t serve anyone. You may have created your own adrenaline addiction based on a belief that multi-tasking, over achieving and over committing is getting you ahead. I will tell you right now, it’s not! If you truly want to monetize your gift mix, insights, deliverables, or products, you must find your groove. This is the pace at which you work best giving yourself time to think, take care of you, have a life outside your work…you get the drift.
If you’ve bought into the belief that achievement comes through excessive effort, hours, and saying yes to anything, you will always work harder than others who pace themselves to be at their best.
4. Pay the Price. You know what you know, but you don’t know what you don’t know. Blind spots can reduce your value or derail you on your path to monetizing your brilliance. Invest the time to learn the skills, master the practices, gain feedback from trusted advisers and be fiercely committed so you can trim what isn’t you; the coping mechanisms, beliefs, and behaviors you’ve added through the hard knocks of life. With less of those in the forefront of your daily life, more of YOU can show up.
Pursue greater understanding of your personality style, strength set, motivators, and values. Leaders who know and understand these qualities about themselves operate at a higher level of performance with less effort.
5. Redeem the Time. You’ve heard it said that time is money. Well it is and it isn’t. Time is time and money is money. It is how we invest our time that creates the space and opportunity to generate money. When you began the track to monetize your brilliance, one of the first things you did was put yourself in charge of your calendar. Over the years I’ve noticed that regardless of how many time management tools and formulas come out, those who earn the most from their brilliance have created a flow that works for them.
What does that mean for you? You must begin noticing where you spend your time. View your calendar as your checkbook. Invest your time in activities or with people that build your assets as a product or in the delivery of what you do best.
Time for action. Take 15 minutes. Make a list of all the things you do in a day or week.
~ First, take a highlighter or pen and mark the activities you LOVE to do and move you toward your goal of monetizing your brilliance.
~ Second, put a mark by the activities you must do but they aren’t your favorite or in your strength area. Commit to a target date to meet a revenue goal that will afford you the support you need in those areas or find a creative way to delegate those tasks to others.
~ Third, put a mark by the activities you’ve made a commitment to but no longer give you the good JuJu. What can you do reset the commitment, or complete the project to take it off your list?
~ Last, draw a line through the activities that need to come off your list. Stop doing them. Now.
Get fit and “trim the fat.”The key to monetizing YOU is knowing your sweet spot and staying in that zone.
Your comments or questions are welcome. Let’s do this!
The Ultimate Business Strategy is to Leverage YOU!
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Kathie Nelson, CMC® is a Professional Speaker, Author, and Business Strategist. Join Kathie at Monetize Me!, a community dedicated to equipping you in 2012 and beyond to leverage your strengths, monetize your time and talents, and systemize what needs to be automated or delegated.