Here's how it works for me...

Each day I look at my 'Today's Things To Do List'.

Oh yes, I have a list. Without it I would be lost. I schedule upcoming work. I list deadlines. I make notes of people I should be calling or emailing. I look for spare moments when I can write an article or two. I list all my personal and family commitments too.

>> And then I add one thing more

In addition to my daily list of things to do, I also have a general 'Needs to be Done' list. These are items that don't really have delivery dates or deadlines, but should get done.

Examples? Maybe a follow-up email to a company I worked for a while ago but haven't heard from since. Maybe a note to myself to get back to a happy customer and ask for a testimonial. Perhaps a reminder to myself to check out a particular website or new service. That kind of thing.

These are all things that are important, but not urgent.

>> Important, but not urgent

This is worth dwelling on for a moment. For many of us freelancers, our days and sometimes nights are filled with completing tasks that are urgent.

WHY DO IT

In new entrepreneurial era where most businesses are aligned to World Wide Web, a smart wealth building strategy is diversification. With multiple revenue streams you not only avoid putting all your eggs in one basket but also create several sources of income so that when there is a slump in one other one is still around to keep cash flow healthy. When you offer a host of related and complimentary products and services to customers you are offering them more value and opportunities for repeat business. Not only that diversifying also means you spread out your risks and minimize cost of marketing and acquiring new customers. Offering multiple products and services gives your business a challenge and friction required to keep moving ahead.

Last but not least, creating a multifaceted business is also good for creative spirit of owner

GETTING THERE

Let’s start with an example. Say you are a small business owner-manufacturing pet grooming tools. You set up a great website to offer your products online to an existing and potential base of customers but want to expand your sales and maximise profits. Diversifying into related product and service fields is just idea for you. Here are some thoughts to get you started:

1.Sell your own products: you can sell your own product (pet grooming tools), earning largest profit margin. This should be your main source of income, so make sure you focus on this first.

2.Sell related services: You could also sell a service that complements your products or that your customers might need before or after using your product. Your pet grooming tools sales site, for example, could offer grooming service and consultation with professional pet care providers.

3.Drop ship products: Next, you could find products available to drop ship that complement your main product. Maybe your new pet grooming tool owners will need other items for their pets. Find a drop shipper that offers leashes, collars, food bowls and pet toys and arrange to offer those products for sale on your site.