If you don’t focus on this ONE THING each and every day in your business – you’ll never make it past your first few years.
Entrepreneurship requires wearing many hats, especially as you’re first getting started.
What’s that one thing?
IPAs!
And no, we’re not talking about beer!
We’re talking about Income Producing Activities (IPAs)
IPAs are those things that directly contribute to generating revenue for your business.
Some examples would be:
✅Generating leads through marketing and advertising
✅Setting up appointments with prospects
✅Sending out proposals to prospects
✅Sending out invoices to customers and clients
Each of these activities directly contributes to the bottom line of the business.
Examples of things that are NOT income producing activities:
❌Bookkeeping activities
❌Putting together processes and SOPs
❌Hiring new employees
❌Doing payroll
❌Designing flyers, business cards, etc
❌Meetings with clients
❌Fulfilling services for customers / clients
While the activities above are essential for your business, they do not directly contribute to generating revenue for the business.
This isn’t about what to do versus what not to do, it’s about the priority of when and how you do things.
If you take care of the IPAs first, you’ll always have the cash you need to survive. If you don’t, you won’t be around long enough to have any payroll to pay or bookkeeping to do.
If you liked this video, you’ll love Episode 3: Keys to Staying Productive in Business
