Focusing on Impact Instead of Income Makes You More Money Sooner

When entrepreneurs start a business, one major goal is to generate income. social media marketing course Without income the business will quickly fail. In our efforts to generate income however, too many of us miss the most important part of building a business.The word impact is defined as “influence; effect.” When an entrepreneur makes an impact, their influence continues far beyond their lifetime. A great example of this is Steve Jobs and Apple. Steve is gone, but his influence lives on through the amazing company he created that impacts millions of lives everyday. While we want to generate income for our business, creating an impact is what takes your business to the next level. Here are three reasons why you focus more on impact than income. Then the digital revolution came and, with it, brought new channels and new challenges. Web and email started to take over. And just when we thought we got those mastered, the pace of change became unsustainable.
You’ve heard this before: Your brand is the sum of customers’ complete experiences with you across all touch points. b2b social media marketing Your brand isn’t your company. It isn’t your marketing message. It isn’t even your product. It is an experience a holistic experience a customer has with your product, your content and your employees. It is the reason to choose you over your competitor.Relationship capital is arguably the most important goal any business has. After all, there is no such thing as a self-made man. We all depend on others in our success. Businesses depend on partners, investors, vendors and employees. But the most important relationship a business has is with its customers.Oh, that “relationship” used to be easy. Several key channels (print, TV, radio, phone), one-way broadcasting, millions of impressions as a goal. Things didn’t change much over decades. The number of niche tools supporting various functions of creation, publishing, distribution, management and reporting grew to hundreds.

Impact creates passive income

In 1989, Stephen Covey published a popular book called The Seven Habits of Highly Effective People. social media marketing plans This book has sold over 25 million copies and has been translated into 40 languages. This book is still on the New York Times best-sellers list consistently 25 years later. Stephen Covey passed away in 2012, but his impact continues on, and so does the passive income from book sales.When you release a book, movie, music or some kind of product, the passive income will continue if that product has made an impact in people’s lives. Stephen’s book has made such a huge impact that I don’t doubt it will still sell 25 years from now. And every year the passive income will continue to flow.Your business has the opportunity to do the same thing, even if it’s not a book. When you create something that helps people, and makes an impact in their lives, that impact will keep the sales continually flowing.
It can be even greater than that if you shift the focus away from simply making money. social media marketing podcast Your business can become just as worthwhile as any of the companies that have stood the test of time.When you create products and services that make a real difference in people’s lives, you separate yourself from everyone else. When you make an impact in people’s lives in a positive way, you create life-long customers that become your company’s evangelist. Dozens of social channels, as well as the rise of the citizen journalist brought blogging, newsjacking, podcasting and social posting. With those, the need developed for listening, real-time engagement, managing digital crisis and more. The pace at which social network features, rules and capabilities change is staggering. For those business that recognized the seismic shift in the marketplace, managing consumer experiences through the rise of the social tsunami became not only a challenge, but a priority.

Impact builds your brand and business

Apple, Zappos Microsoft and many other familiar companies started as little more than a name and an idea. real estate social media marketing What made them into the powerhouses they are today is the impact they made on people’s lives, through their vision and what they created.In the world of entrepreneurship today, there are millions of businesses, many of them selling similar products. The best way for your business to stand out is focused on the impact you can make, not by being a clone.When you speak to your target audience’s biggest struggles and solve them, they will tell everyone they know and spread your impact. Word of mouth is the strongest form of marketing because people are getting exposed to you and your business through people they trust. This is the best way to build a brand. How many people personally told you to read Stephen Covey’s book? That’s why the book remains a best seller after 25 years.
There have been many one-hit wonders in the world of entrepreneurship. social media marketing blogs Remember Next? The company that Steve Jobs created after he was fired from Apple? Next is gone, but Apple grows.It’s estimated that 600,000 to one million books are published each year. Many of these books won’t sell more than 250 copies. Yet, a book published 25 years ago will continue to sell millions of copies. The difference is the impact certain books have in changing people’s lives. Too many books are written just to make money. Too many products and services are created with the main goal of creating income. They usually don’t stand the test of time.When your business has a hand in changing someone’s life, they become a walking testimonial and constant marketing campaign. The world of entrepreneurship is flooded with hype, so when someone sees the real thing, they won’t hesitate to buy. Owning a business is great for so many reasons. It provides freedom and a chance to build something that you can pass onto your children.