Show Me The Money

You’ve been running your business for a while.

In a lot of ways, it’s given you what you wanted – more time for family, flexibility, autonomy, and independence.

But you’re still not paying yourself consistently or as much as you want.

Being a business owner is some of the hardest and most rewarding work you can do.

I want to help you make every ounce of time, energy, passion, and creativity you pour into your business pay you back 10-fold in financial abundance and personal fulfillment.

I want to help business owners do more than replace a paycheck.

I think it's important to start the conversation by asking: What you want your business to do for you financially?

Not what it has done or what it can do.

What do you WANT and DESIRE for it to do?

Think about near and long-term financial goals. But don't let current circumstances (or imagined future circumstances) stop you from getting crystal clear about what financial rewards you want your business to create for you, your family, and your community.

Think about how much money that will allow you to take home to pay for day-to-day expenses. How much you want to save for retirement, vacation, or home improvements. What kind of financial future you want for your children or the resources you want to be available to help you take care of older relatives. How you can support the people and causes you care about most.

Think about how it will feel to have financially abundance - so much so that your cup runs over with choices and opportunity. Imagine how you will spend, save, and invest to grow your business working only as much as you want, when you want, and with whom you desire.

Write down how it feels and what it looks like. Visit this place often. Use it as your guide. It will help you identify what actions will move you closer to that reality.

Write down the numbers. Think about where you are, where you want to be, and what it will take to get there.

Not sure about that last part?

I've created a spreadsheet to help you work backwards from what you want to spend and save, to figure out what your revenue and profitability goals need to be.

You can download the spreadsheet template here and find a short video tutorial here. (passcode 7Vidfqo&)

This example is a place to start.

Maybe the revenue you're generating and what you're paying yourself isn't where you want it to be.

Or perhaps you're already doing WAY more than replacing the paycheck you had at your last employer.

In either case, I hope you'll use this template to visualize the revenue needed to take you to the next level.

I hope this exercise gets you excited about what's possible and thinking beyond what your business is doing for you right now.

Your goals can be as modest or as ambitious as you want them to be. The important thing is that they're yours and that they're based on what you desire, not necessarily on what is currently true.

Are you excited?

Let's channel that excitement into figuring out how to make these goals real.

This means more thinking (and some calculations) about your

  • Product and/or service mix

  • Pricing assumptions

  • Client/customer mix

  • Marketing strategy

  • Sales strategy

  • Renewal and upgrade strategies

And, of course, the expenses related to making, marketing, selling, and delivering your products and/or services.

After that, it's all about consistent execution fueled by your excitement and enthusiasm about what's possible.

I know you'll start strong.

And I know staying strong is a struggle.

As an owner operator and player coach, you're probably working in your business far more than you're working on it. You're probably used to making a plan, getting started, closing new business, and then pausing your business development activities to take care of the business you just closed.

At some point, those projects end, clients cycle out, or you realize you still need more new business to hit your revenue goals. 

To generate something means to cause something to come about or to bring into existence.

To generate revenue you have to consistently do the things we call marketing, sales, and customer service to create the result you want.

Knowing this and doing this are two different things.

I have no doubt that you know this. That you believe this. And that it is incredibly hard for you to do this.

It's ok. You're human. This is normal.

Every high-achieving person has someone (or many someones) helping them do the things they know are necessary for success. People like me in myriad industries and parts of life love helping people like you plan and execute a pathway to success on their own terms. 

It's never too late to get started.

So if you want to break some old patterns and create some new results, let's get excited together and get to work!

Previous
Previous

Self Assessment

Next
Next

Recession-Proof?