Step 1: Put yourself first
What do you need right now to live comfortably? Leave a legacy? Give to your community? Have you really thought about that and figured out what you need to have financially to achieve your personal goals? Maybe you’ve been procrastinating around this point because you haven’t taken the time or it feels emotional. Well by taking 13 weeks to work on your business, I and your cohort of fellow business owners will hold you accountable for choreographing the life you want with numbers. We’re going to get you in action by helping map out what it costs to achieve those personal goals and what habits/skills we need to adopt to get us there.
Step 2: Review the past to know the future
Knowing your numbers takes more than staring at financial spreadsheets. It takes knowing how to read the trends in your financial statements to uncover areas (many of which have been missed) where the business is weak in order to create a plan for a better future. You will be guided to assess your financial performance with a critical eye.
Step 3: Outline the path forward by doing the math
The most important part of this journey will be envisioning your business’s financial future and planning for it. In this session, let’s tap into our imagination and discuss various ways to innovate in your business and ad revenue.
This will be a methodical, constructive brainstorming with other business owners to vet and validate ideas for growth. And since growth requires lots of cash, we will discuss all the elements to consider in budgeting for future growth.
Step 4: Forecast revenue
Once you’ve envisioned and started creating a plan for growth, the next step is to project revenue levels that cover the cost of doing business and your personal goals. Don’t worry, you don’t need an MBA to do this part. We have a tool for this. The most exciting part of this tool is that it also helps you figure out how many clients you need to reach your goal. I can’t wait to share it with you. By the end of this module, you will know the numbers needed to achieve your sales goals, save time and be more efficient with marketing efforts.
Step 5: Implement
“Strategy without implementation is hallucination” according to a Forbes contributor. He is right! During this session, let’s pull everything into one comprehensive financial plan and discuss how you’re going to put it into action over the next 12 months.
Step 6: Test, track, tweak
As you take action, it will be important to track your progress and impact to your bottom line. Whether you use Excel, Quickbooks or a dashboard tool, I will address how to track performance and other key performance metrics.