Generating cash flow is a #1 concern for business owners. Doing so means coming up with and following through with big ideas. Unfortunately, it is too common for people to come up with big ideas then fail to follow through with them.
There’s no simple fix to this issue because there are many reasons why you might drop an idea, even a good one. You might be:
* too busy
* unsure how to make it happen
* dealing with an idea that’s too
* having an idea that’s too abstract and unclear
* busy with too many other priorities
* forgetting to create deadlines or a sense of urgency
* working without needed support
* facing too many obstacles
* afraid or doubt your ability to see it through
Do you find one of your reasons in any of the categories above? It may not be exactly as presented but you get the idea. The important thing is to first identify the reason (or excuse) you use to not follow through with a potentially good cash generating idea. Only then can you work on turning things around to make your idea or dream a reality.
Set a Goal
What most of the reasons have in common is that there is no goal for any of them. To generate cash, set a clear, feasible goal. For example, when an idea is too big it means you haven’t turned it into a workable cash generating goal. If your big idea is to make money from your book that isn’t a tangible goal. However, if you decide to earn $1000 from book sales by June 30th, that is a goal. You break this goal into smaller more manageable steps.
Scrutinize your big idea to determine exactly what it can do to make it into something that generates attention and cash. Figure out what you need to make the results happen. Could it be more help those skilled in areas where you’re not so strong? Do you need to break it down into steps? Do you need to offload other tasks so that you can make your idea a priority? Do you need a renewed commitment to reach the goal?
Make it Happen
Following through on your big ideas in order to generate cash mean making daily action a habit. Once you’ve scrutinized and assessed your idea and discovered how to make it more manageable, you can then create an action plan. Decide how much you want to earn from the idea. Then decide what you need to do every day to achieve your goal. Small steps lead to big results. Your daily action doesn’t need to be huge, it just needs to happen. Keep records on how much you earn each day and altogether to see if the big idea is worth repeating or continuing as a part of your business.