I have been thinking lately about the concept of “income producing activities.” I talk a lot about this on this blog. We focus on the term “income producing activities” as those things you go out and do that result in immediate income for your business. But lately I’m thinking that’s a bit of a misnomer. Because longer-term activities can also produce income. We just may not see it as fast.
Booking a party? That’s an “immediate income producing activity.” Helping a recruit with their first sale? Immediate income.
Writing a blog post that leads to someone subscribing? It’s got a longer cycle. But that person has started a relationship with you that may lead to a sale or recruit. Is it immediate income? No. But it’s still an income producing activity.
It’s about finding the right balance.
Make sure you focus the bulk of your time on immediate income producing activities, because the longer-cycle stuff means you have to wait longer for your money. It may be incredibly profitable in the long term, but you need money all along the road to wealth.
Keep it in perspective.