We all want to make more money and spend less time making it.
The problem is, we’ve got so many great ideas floating around.
You’ve all been there-and some of you are there right now.
The place where the ideas are FLOWING. How do you choose which ideas to implement and follow? Do you just grab blindly and try any idea that sounds great?
What if you had a way to choose the RIGHT idea EVERY TIME?
Would you do it?
Of course you would!
Did you know you may already have the way to do that? I’ll bet you didn’t. If you’ve spent enough time dreaming, creating, and getting to essence of your business, it’s quite possible you have the framework in place to make the right decisions for your business right now.
What is this magic potion, you ask? Simply this: take your idea and pass it through a ‘filter’. For ideas that pertain to what you offer, ask this of the idea: does it enhance, add to, perpetuate or otherwise work in accordance to what your business concept is? For example, if the essence of your business is to offer “country fresh inspiration” and your newest idea is to offer a monthly country trend review night, I’d say go for it. It’s got all three of your essence elements. It’s FRESH, it’s got country and it’s sure to inspire.
If your newest idea is to add an area for children complete with tv & video games, you’d need to pass it through several filters. First filter: does it serve my customer? In other words, what percentage of my target market shops with their young children that would take advantage of it? If it’s less than 20% of your biggest spenders, I’d say skip it and focus your resources somewhere else.
Hanging in there? Here’s the second filter if the idea passed the first one: Can it incorporate your essence, add to it or work cohesively with it? If it doesn’t, pass on the idea. Heck, maybe you can add it to your blog as an idea for someone else.
You’ve made it this far–here’s the final test if it passes the other two: It’s going to cost money. Is it going to cost more money than it will bring in? Playing with the childrens area, if you’re going to keep it fresh, that’s probably new decor, maybe new video games. Quite simply, Will it make you more money? And will it make you more money than it costs you? How much? If it’s a pretty small number, is it worth the effort?
The short cut to making better business decisions:
WILL IT MAKE ME MORE MONEY than it will cost me?
Run all your decisions through this filter and see if it doesn’t improve your bottom line. Asking everything you want to do with your money if it will make more money than it will cost, will absolutely keep you focused on maximizing your financial resources.