You’ve decided to create your very own Cash Machine… now what?
Our free 30 Minute Action Strategy Sessions have been a huge success since the New Year began. It’s not a big surprise since many of you have decided this is the year to create your own destiny and build a Cash Machine of your own. Although many of you have different circumstances there is a common theme to the sessions, it’s the looming question of…
Your first step is to take an inventory of ALL your skills and talents. Next, you need to brainstorm on how those skills and talents translate into a product or service you can offer for cash. Most of the folks we’re running across are done with this task and are wondering where to go from here. The answer is simple… you’ve got to find out how other businesses are succeeding, and how they’re failing, when it comes to your type of Cash Machine.
People sometimes balk at me when I tell them to model successful business models. I say “WHY NOT?” it’s a common practice and saves you time and energy.
Search engines like Google are your friend. Get on the information super highway and start looking at comparable businesses.
Ask yourself these questions:
What are the standard operating procedures?
What are their customer service practices?
Who is the clientele?
How much do they charge?
What are the marketing strategies and do they work?
What’s the overhead?
What do they pay employees?
You get the idea. The purpose to this is to find out if you are up to the task of the particular Cash Machine Concept. Don’t be shy, call business owners and see if they’ll meet with you. Doing this kind of research helps you to discover if this is the right fit or if you have the capital necessary to get off the ground.
Another good resource to use is community message boards and classified ads not just Craig’s List but more localized ones as well. If you find that your Cash Machine idea is widely offered you might want to reconsider the idea or find a niche in the field you could fill.
After you’ve done your research you’ve got to sit down and draft a plan on paper. Don’t forget to factor in the time it will take in the beginning and how much time it will take to sustain. A Cash Machine will need work more at first but the goal is to have a self sufficient operation. Once you have a Cash Machine running like a finely tuned engine it’s time to start the process over again.
Financial independence requires planning. Having an objective person to bounce ideas and concepts off of is very important. Some people find this person in the community, friends or family and many others find having a mentor or personal development coach is a productive move. It all depends on your sense of personal accountability.
If you’ve run into a road block after listing your skills and talents maybe you need someone to talk to, think about coming to one of my Cash Machine Workshops to get started with a flying leap. Many attendees make money before they leave the workshop! (In many cities in the US or in Australia)
Finding the right Cash Machine fit for your skills and talents is key in creating a continuous flow of income. Do your research. Talk to people. Make it happen.
P.S. Leave your questions, comments, suggestions, or whatever… below.