Income Producing Activities

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.

Your thoughts?

6 Responses to Income Producing Activities
  1. Melissa Dery
    March 9, 2011 | 7:44 pm

    Jen,

    What a great thought provoking post! Often direct sellers get “tunnel” focused on one aspect of growing their business that they overlook the other ways to achieve success. The key to any successful business is balance, and while focusing on all IPAs, short, medium and long-term (Love that Shannon!) it can also be helpful to delegate the non-IPAs so that you can continue to create the necessary balance, growth and focus.

    • Jennifer Fong
      March 10, 2011 | 11:59 am

      So true! Thanks for commenting Melissa!

  2. Shannon Bruce
    March 8, 2011 | 10:03 am

    Yes This is absolutely true Jennifer! Wealth building activities are things that will most definitely result in money in your bank account and there is a timing for all of this. I share with my clients another “filter” for their income producing activities which is based on short-term, medium-term and long-term. When you need cash flow “now” you don’t want to be focused on the long-term activities as primary. In this case, you would want to be focused on “short-term”. However, you need to keep the pipeline flowing so it’s a dance between all three. The mastery level is learning how much time to spend as you’re in all three places at once!
    Shannon Bruce recently posted..Be Resilient through the Ups and Downs of Change

  3. Pattie Ficorilli
    March 7, 2011 | 12:55 pm

    We have been spending a LOT of time training our Specialists on the importance of doing income generating activities each day or at least each time they decide to work on their business. It’s so important that you focus on tasks that will help move your business forward. So many people thing that because they work 5-10 hours on their business that it’s moving their business forward, but they need to make sure they are doing things that generate income, like you said, parties, reorders, sponsoring. I recently heard a training call and the woman specifically said look at your sales and # of recruits month after month..if you are doing more than you did the month before, you are engaging in the right activities. If you’re not, you need to reevaluate your time and make better decisions.

  4. Sheriman AF
    March 7, 2011 | 9:42 am

    Dear Jennifer, Thanks for sharing!

    This issue is very interesting, especially for someone who work from home like me. When I first started full-time as internet marketer, I used to spent 16 – 18 hours in front of the computer. It was about 3 months of that until my wife snapped and say, “There are time for work and there are time with family!”. I was dumbstruck. I’m thinking, “Hell, I’m there in front of you everyday!”. But then, I was in front of the computer, not her! That was when I changed my routine. I seek for balance on a daily basis. I look for my wife and kids’ smile everyday, so I look for ways to make sure that my family need (emotionally) is taken care of. It could just be a brush on the hair for my elder son, a tap on the shoulder for my 2nd one and a kiss on the cheek for my baby girl every once in a while. As for my wife, maybe a slap on the b*** and a warm hug every half an hour, just kidding 🙂 …. Sheriman AF

  5. Angela England
    March 7, 2011 | 8:56 am

    I had a post that I wrote in response to someone’s email question. And it turned into one of the biggest posts on my website. Now, nearly two years later, I STILL get comments, emails and blog subscribers from the post – you can never tell which one is going to click with readers.

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