Check what you enjoy

To make your business more profitable, manageable and satisfying, I suggest that you examine your 3 Ps: Passion. Pleasure. Profit.

I'm sure you're PASSIONATE about your business and the industry.

The next three steps are critical strategies.

First examine your income producing activities/sources of income. Second narrow the list to the income producing activities you like.

The ones that give you PLEASURE doing, in other words.

For example, do you hate having to go out and quote on domestic repairs on rental homes?

Do you hate having your margins squeezed by the large developments you work on?

Do you love those nice, simple maintenance jobs for commercial clients?

Finally and most importantly, from these pleasurable income producing activities, narrow the list again to the ones that are the most profitable.

These should be the new focal point of your business.

If you find that maintenance contracts are easy, profitable and you like them, then focus your marketing and business development activities towards getting more of them.

In other words, don't spin your wheels doing the wrong things.

Or allowing you to say yes to all the work that comes in. In most circumstances it takes the same amount of time and energy to market, to develop new business, to bring in repeat business for that cheaper, harder services you don't enjoy as it does for your more profitable one that you enjoy.

- Debbie Mayo-Smith gives speeches, seminars and trains on sales and personal productivity. Sign up for her monthly newsletter. www.successis.co.nz/newsletterapn.htm. Visit www.debbiespeaks.co.nz.