Do you work your fanny off in business but still feel like it’s going nowhere?
That’s how I felt too until I figured out one little secret that changed the game forever.
In two short words the secret is…
Now you might be asking, what in the heck is a Cash Task?
It’s an action step you take today which has the potential to yield cash in your pocket within 30 days (or less!).
Let me be clear, cash tasks can certainly be a ‘quick fix’ for short term revenue flow…but when used to their full potential they will keep your pipeline stuffed and your sales flowing. When you get into the habit of knocking out 1-3 cash tasks every day in your business…it’ll change your game too.
Because the only way to have more sales is to:
- Increase leads and convert to new clients
- Get existing customers to spend more
- Increase the frequency customers purchase
A cash task zeros in on these specific actions to get lasting results. I like cash tasks to be QUICK so I can do them in 10 minutes or less. I complete them FIRST each day so I know the most important part of growing my business is complete. I PLAN them out over time so I am prepared and ready.
Not to be confused, there are many other actions in your business you can do to generate revenue. However, these things can take way more time than 10 minutes. For example, creating a new ad campaign could take hours or even weeks. That’s not a cash task. You still need to do it (and you should!) but it’s probably not going to yield immediate cash. Now, following up on a lead from an ad that has been sitting in your email inbox for 3 weeks…THAT’s a cash task!
If you are not sure what your cash tasks could be here are 5 ideas to get your started.
#1 – Work the old proposals
Existing business owners usually have a folder somewhere filled with old proposals or quotes that were never accepted. When was the last time you went through that stack? A quick email to touch base with a prospect and genuinely ask how they are doing is a great way to also put yourself back on their radar. I’ve often received responses such as “wow I was just talking about your company” or “you have such great timing” when I’ve done this followup. It can quickly lead to a sale. You don’t have to go through the entire stack in one day. Just divide it up and send 1-3 emails each morning. That’s a cash task.
#2 – Low hanging fruit
Unless you are totally new in business you probably have existing clients (hopefully a nice long list of them). On that list are almost certainly ones who are not only willing, but ready to spend more money with you. They may have even hinted this in emails, on phone calls or social media. You know who they are and what they want to buy, but you’ve not set aside the time to actually pick up the phone and close the deal. Make the time. That’s a cash task.
#3 – Give referrals and get referrals
When was the last time you received a call from a prospect that needed help, but your product/services were not the right fit? Did you have a place to refer them? Building a solid network of vendors and subcontractors where you can refer business can be a gold mine. Not only does this put you and your business on the vendors “radar” it also sets you up to receive a referral. When you are the recipient of surprise new business, don’t you naturally want to give back and return the favor? Of course! Making a connection with a new vendor/sub where you can collaborate with each other not only helps both of your companies but also serves the client. Next time the opportunity arises to make a connection (or re-establish an existing one) take the few extra minutes and do it. That’s a cash task.
#4 – Grow Your List
Do you have an email list of clients? If the answer is NO, then starting one will be a great cash task. If you have a list, what are you doing to grow it? If you are actively growing your list, how are you monetizing the list? What are your conversion rates and could they be improved? Depending on where you are in your business there are hundreds of small cash tasks that could be derived from your email list alone.
#5 – A Penny Saved
A cash task can also be tackled in reverse. One of my favorite money lessons learned was “for every dollar you spend you need to earn 3”. That’s certainly true, so a quick way to increase revenues is to just save a dollar. Cancelling a service no longer needed, eliminating overlap, and reducing expenses is a great way to see more money in your pocket quickly. Taking action to cut costs can yield significant savings long term. Making that call to the Internet Provider or Cell Phone Company can be a pain in rear, but just treat it like a cash task because it’s money in your pocket.
Now that you understand what makes a cash task here’s how to implement them in your daily routine:
- Take a look at your to do list, email inbox, voicemails, etc… be on the lookout for quick actions you can take that have the potential to turn into cash within 30 days.
- Plan those tasks in your Best Planner Ever in the A Tasks section. Don’t try and do 6 hours of cash tasks every day! Just break them up into 1-3 tasks per day and schedule them out as far as you like.
- Do them. Each and every day without fail and watch your business grow.
To your Success!