Pop Quiz: What are the sources of this year’s revenue?

Take a moment to list all of your projects from this year. Then list the source of each of the projects. What does that tell you about:

- Marketing that is working for you?

- Marketing that isn’t working for you?

- Business development activities you should expand?

- Business development activities you should de-emphasize?

- Business development activities you should continue, but in a more effective way?

I did this exercise while walking the dogs today and realized the following:

1/3 of my business this year has come from one excellent referral source. I need to cultivate more relationships like this one.

1/3 of my business has come from my web site — pure passive income based on an automated marketing system. I should expand my investment in this type of marketing.

1/3 of my business has come from former clients who have called me for more work — including many from a consulting practice I no longer market. Good for me! Perhaps I need to re-open that practice.

What do you learn when you do the same exercise?

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  • http://www.dimensionmedia.com dimensionmedia

    remind me of almost the same question i asked recently:

    http://www.flex-mx.com/archives/001628.html

    oh, 70% of our work comes from referrals.

  • Norbert

    I started freelancing 1.5 years ago. This year 50% of my projects came from clients/employers from the past. In the other projects I personally applied for jobs offered by small companies usually seeking for part-time employees; I convinced them that it’s better to choose me than hiring someone to the office.

    What I learned this year is that I have to ask more money for my work. I usually offered lower prices than my competitors to get more projects but we’ve learned in this blog and its comments (and now I did in life) that this is not a good practice.

    I’ll start working as a full-time employee in October; after that, I don’t have to worry about food and I can say higher prices as now I’ve got those marketing skills that help me to convince clients. I know it will work.

    Additionally, I’ll probably look for freelancers/subcontractors to get the development job done so I can fully concentrate on marketing & my company. I’ll have a flexible working time, that helps a lot too.

  • http://www.dimensionmedia.com dimensionmedia

    Nobert,

    If you need freelancers/subcontractors, drop us a line. We have a line of talented people and we work with everyone from Fortune 500 companies to celebs to local businesses.