As I speak to business owners inOTind justified, I see a common trend. I believe there are many business owners who are barelywilling to look at all their options. In fact, I’m finding myself asking more questions than I’m answering questions. Have you heard of this? I’m hearing the mistaken idea that the more options you have the better, but that’s simply not the case pokerclub88.
I’ve been talking lately about how important and beneficial it is to have a business plan. My blog posts and my list of resources describe this in greater detail. I’ve outlined my top three critical steps to ensure your business profits and cash flow.
Back to the first two steps. I’m sure they were both on point already, but here are them seconded.
Step 1- Pre-finish Your Business Plan!
Yes, I realize, we’ve talked about this before. But it’s worth repeating, because this step is your roadmap to success. It is what you need to do this very first step specifically. All of your options (both good and bad) are summarized in this document. I found it helpful and important because it is the roadmap to my continued success with my company plan. A simple plan on a sunny day, is worth a fortune in the end. Even if you do not see these tips as you’re implementing your business, remember they are proven to work EVERY time. These concepts are all that’s required to compile your business plan; or even you can customize these concepts to your own business. Make it your business and replicate where you can. This is your time to strategize and strike success.
Step 2- Control Your Business Cash Flow!
Over the past few years, I’ve written a nice letter to business owners telling them why cash flow is so important to business. You may not have heard of this before, but it’s very important today. We discussed this concept in the first article in this series, so if you are a complete idiot, please make a note of this earlier! As I speak to many business owners, I find they spend more in earnings, because they spend time Mother CaFA thinking about which paper to shred, and which credit card to wait on to the payment. Some believe they have the customer beep to make payments. I ask you, “Are you getting excited over sales in your open period?” or “Are you not?” We talked about this earlier in this set of articles.
Just a reminder: As a business owner, your goal should NOT be to have your business make six figures a year. Time and time again I see businesses who spend time and energy traveling around sick thinking about their interim business without a plan. Fortunately, most business owners do not have a business without a budget and cash flow plan. Make sense? Okay, now let’s go into step 3.
Step 3- Gauge Your Business Cash Flow!
I called the above step “Plain & Simple”. This is one of the most difficult things for business owners to do – Gauging your money! I knew what I wanted it was. I needed to learn which sales/production ventures are bringing in money. When I saw them my income increased. I also learned who was spending the most and who was not. Since so much room is given to this step, you will have to do your own research. I always tend to return to the basics and never worked on bringing in money until I got this step. When you have an entire wall of mirrors in front of you to gauge your business, you’re able to see and feel where money is flowing best. It’s a load of work. However, once you get this step down on paper, the road of life is much simpler:
No more wondering and scrambling around for that customer money. You know what is and where to spend it. We always have someone else planning on saving it, even though most business owners will not share the exact same” I’m positive you can still spend it”. The disappointment is always the same. You’ve got all that planning for you, but if you are afraid to spend money in your business, you will never achieve real success, and make the money you deserve. Now, both I all want great sales and other aspects needed in your business. I also want to show off how I am doing my job. How could you expect to draw 500 new clients to your business if 10 of those clients keep giving you money? This is one of the biggest and most crucial obstacles or major roadblocks business owners face today. Do not ever confuse the two.
You can and will make money if you have a plan. You will also not have this trouble where you get set up with a contractor to spray paint your office walls. Or to have someone appointments at your front door song and dance.