Do you monetize?

By Bill Bachrach

Bachrach & Associates


What a great word; monetize.

Monetize. Say it a few times and just savor how the word sounds coming rolling across your tongue and out of your mouth: Mon ... aaaahhh ... tiiiizzze.

Monetizing is the ability to turn an idea into money. More importantly, it describes being able to turn actions into results.

Monetizing is the difference between being busy and being productive. It's the difference between thinking about exercise and actually breaking a sweat. It's the difference between making a plan and executing the plan all the way through to fruition and results.

You monetize for your clients when you move them to take action that will result in a positive outcome later. This is how financial information and data become the actions that produce results. Knowledge alone is not power. You need action to turn knowledge into power.

You create this action yourself when you choose to do something productive, such as calling a prospect instead of pushing around papers on your desk ... again.

Ask yourself these questions on a regular basis:
  • Am I busy or am I monetizing?
  • Are the people I hang out with monetizers?
  • Can my mentors, coaches, and advisers really help me monetize?
  • If I'm not monetizing, what am I doing?
Money may not be everything, but it's a key metric in business, especially the financial services business.

Monetize.

Make it a great year!