“Idea: You must understand how money is made.”
The Brand YOU from the Reinventing Work series by Tom Peters, page 61
The Great Game of Business
This idea appears to be insultingly simple at first glance, but it is the most important internalization you can come to terms with while in business.
Your income in the majority of cases comes from customers. You provide a service that has value to others and they in turn award you by paying you your fee. If a fee is not in your cards yet, you are paid a percentage of your clients’ total expenditures determined by your supplier partners.
In short, no value, no pay day. To dig a little deeper into the topic, no customers, no meal ticket. Your money comes directly or indirectly from customers.
Once you can buy into this cause and effect relationship, you begin to see how important it is to acquire customers on more or less a regular basis.
This “money machine” exhibits something known as a shelf life. This means that customers do not last forever. They will pay you for your services for a finite amount of time. Each customer has a different shelf life.
Your job is to be on the lookout for a steady flow of new customers while servicing the bajeebers out of your current clients.
Mike presents a business-building webinar on the third Thursday of every month sponsored by AmaWaterways. To receive monthly invitations send Mike an email with the words “business training” in the Subject Box. You will also receive a link to the recorded version. email@example.com