So i’m in the middle of Planning Week – and as usual i’m doing the process myself along with everyone in the group (SO much more fun to do it together, imo.)
I had an a-ha in the exercise we did yesterday where we took a look at what made us the most money in 2011. I hopped into Infusionsoft (<– unabashedly sharing my affiliate link ;)) and ran the report that showed all my sales per product. I sorted through that puppy and low and behold made some interesting discoveries:
- 70% of my income is from 2 revenue streams – the 2 that are the easiest to run and take the least amount of my time (because i’ve done all the hard work to create/systematize them already)
- 10% of my income is from some new work i’m doing and have started to “dip my toe” in this fall
- The remaining 20% of my income is from a various mish-mash of different “little” things i’ve offered throughout the year.
Guess which part has taken up most of my time/energy? Yep, that last 20%… when I looked at what I was doing there it really gave me a bop over the head. I don’t have specific numbers to share as I don’t track my time, but I know that I probably spent at least 60% of my time working on what brought me 20% of my revenue. Yipes!
So perhaps it is time for me to let go of those 20%-ers… and focus instead on the 70%. Seems like an obvious answer but yet part of me resists letting go of these things… for some of them i’m just plain stubborn (but I WANT to do them) and for others I feel like they served me well once upon a time but don’t any longer (feels like we are breaking up.)
I will mull on this a bit, with a focus on aiming to keep things more simple overall and focus on just a handful of key revenue streams in 2012 vs. so darn many like I did here in 2011.
So I ask you – what is your 20%? When you look back on 2011 and where you made your money – what falls into that 20% category and are you ready to let it go?