Going Green: New Opportunities for Your Waste

April 14th, 2009 by | Print

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How often do you create time in your schedule to be the entrepreneur for your business instead of operating only as a manager in your business? It is wasteful to apply your entrepreneurial spirit only to the launch of your business and then let the manager in you take over. You can turn more greenbacks out of your business by exploring your waste.

 

An entrepreneur applies creative thinking and explores the full potential of opportunities. A manager works to complete the tasks to accomplish the goals. Manager is an important role, but runs the risk of “rut” disease – head down, checking off tasks. As manager you narrow your focus to complete your task, often blind to other profit producing possibilities within your reach.

 

Remember it is more costly to launch a new business, purchase a new asset or capture a new customer than to leverage off of your existing resources.

 

What are some potential waste collectors within your business? Everything.

 

Your office space, web site, products and services, and your customer list for example have the potential opportunity to create new revenues – if you carve out time to explore the potential that they possess. During the day, as your run your business, you may believe that you are getting the desired benefit from these assets. Yes, assets. These common necessities are only common if you perceive them as common.

 

For example, what is a web site? The average business creates a web site because it is a necessity for exposure and communicating the business’s services. But, if you took the time to create a list of the top twenty possibilities of a web site, the list could start as follows:

 

  1. Visibility to your target market
  2. Communication of your company’s value proposition
  3. A customer list collector
  4. A visitor demographic data resource
  5. A dialogue location increasing your insight into and better bonding with your customers
  6. An active ecommerce site for your products and services
  7. A passive income site from advertising opportunities
  8. An industry news source
  9. A non-competitive resource site
  10. A perception collector

 

Above are just ten capabilities of a top twenty possibility list. Does your site have these ten functions? If not, why not? Did you take the time to think beyond the customary capabilities? Just a few years back in the world of Web 1.0, sites were static pages of minimally changing monologues hoping to capture customers. Today’s Web 2.0 world is a dynamic interacting virtual world that has expanded the possibility greatly. Are you maximizing the possibility of this valuable asset?

 

What about customer lists? First, are you collecting a customer list? If not, you need a list to last. Having a contact list of current and future customers gives you control to communicate to your target market and increase your opportunities for capturing business. If you do have a list, what are you doing with it? Are you communicating regularly with customers about specials, events or changes with your business that benefits them? What else could your list be? How about an asset to trade for exposure to another list?

 

There is a site called Visibility Exchange that gives non-competing members with similar customer demographics the opportunity to share visibility to each other’s customers. Members still maintain the integrity of the promise to their list of neither selling nor sharing the contact information to a third party. Members within groups agree to create exposure to their customer base while maintaining the privacy and control of their list. In this scenario, a list is not only a list, but collateral for exponentially growing the list holder’s visibility to their target demographics.

 

These are just some examples to hopeful activate your creative juices and inspire your entrepreneurial spirit. Managing your business is important. But, remaining the Chief Entrepreneurial Officer in your solopreneur structure is as equally important. Take time to review your business assets and explore the possible greenbacks that you can generate from their currently wasted possibilities.

 

All The Best,

Doug Dolan
The Solopreneur’s Guide

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