You have a choice between two meetings. One is a meeting with someone who can add $100,000 to your revenues and the other one can add $10,000. Which meeting will you attend? You can make one of two phone calls. You can allocate time to only one activity at a time. You have a limited amount of time to dole out. Your resources are finite. You can only read one book at a time. You want to leverage and duplicate you efforts. What if you had a checklist that you could use to objectively evaluate the reasonable, potential return on your investment and thereby make better, more lucrative choices regarding the sensible assignment and strategic distribution of your time and capital?
Many people make choices based on guilt, popularity, comfort, convenience, and fear, rather than on practical and logical considerations. Large companies are bottom line oriented and they have shareholders scrutinizing their choices, whereas small business owners can act anonymously, compromise, justify poor decisions, and ignore flawed evaluations. What do the big corporations do differently? They are acutely aware of the cost of their time, equipment, and assets. They report to controllers and accountants who are not emotionally involved and expect to see optimal expediency. So lets look at some useful, guiding criteria for the expenditure of our irreplaceable time.
Set benchmarks for your expected return on investment. Will you look at any Joint Venture or sales opportunity under $1,000? Does it have to result in repeat sales and therefore passive income? What is the minimum potential you look for and do you choose between two options based on their potential and risk / return equation?
What are your standards for the people with whom you do business? Do you compromise? What values and ethics do you insist on? What disqualifies people from the opportunity of doing business with you? How many lies will you tolerate? How about punctuality, professionalism, and reputation? Do you walk away when you see there's something fishy going on, or do you turn a blind eye? Are you a victim of situational ethics, brought on by blatant greed?
What steps will you take to evaluate an opportunity before physically attending a meeting? What organizations / types of business are not qualified to work with you, based on your values and Mission Statement? For example, would you do business with someone involved in pornography or any particular religious cult?
What has to happen for you to turn an opportunity down? Under what circumstances will you walk away from a business relationship?
What standards or measurements do you use to assess opportunities before spending time and money on them?
I personally only do business with Members of the DollarMakers Joint Venture Forum and if they do not abide by our Code of Ethics, they are fired. I do not get involved with people who are involved in certain types of businesses or certain religious and business cults. Most of my Joint Ventures are No Money, No Risk and I pay only for performance. I have a specific period during which I seek real results after that time we either change tactics or cut bait. Lying, manipulation, and deception disqualifies people from my world. I do not do business with people in certain countries or with socialists, altruists, politicians or collectivists. The more selectively you allocate your resources, the more you value your time and insist on optimal leverage, the higher your standards, and the less you compromise your values, the happier you will be and the more money you will make.