Guest post by Julie Steelman
Intentions are powerful ways to bring things you desire into existence. But if you want the Universe to really take you seriously, you have to create a plan. Tweet this tidbit!
Ugh. I know what you’re thinking; creating a plan can feel heavy and burdensome. I am not a big fan of doing them either. When I start to feel that making a plan is too big a commitment and that I don’t want to be responsible for achieving the big goal I set, I know my internal rebel voice is taking over and she isn’t the one who should be running my business!
I tell my clients making a plan is the most poignant intention you will ever make.
The big boys of business create a plan all the time and so should you. The planning is important because your business becomes predictable and reliable. It eases the fear and uncertainty that many entrepreneurs and solo-preneurs feel. From a spiritual and purpose-driven sense, making a plan demonstrates your sincerity to realizing your intention.
So we’re going to create a plan and call it our Money Map (sounds better already, huh?) Here’s the process:
1. Add up all your expenses from the previous year.
Don’t make any assessments or judgments about what it cost you to run your business. Let it go. If you have additional upcoming expenses, estimate how much that will be and add it to find your total expense. Now take that number and increase it by 25%. That new number is your expense projection.
2. Next, write down how much money you want to keep based on your new plan.
How much you would love to deposit in your personal bank account. Don’t be concerned with whether you think it’s ‘doable.’ Just write down what you truly want to keep. Remember, we are setting an intention for your business.
3. Now take your projected expenses and add it to the amount you want to keep.
That new total is your monetary intention for the next year of business.
4. Okay, now that we know how much revenue you need to generate in this year, how are we going to get there?
Using a spreadsheet or a sheet of paper, make columns, one for each month of the year. Knowing what you know about last year’s sales cycle, put a star next to those months that are typically the highest sales months. Now, put a dash next to those months that are the lowest sales months. Make a list of the reasons for your cyclical highs and lows. You will want to understand what causes the fluctuation in your income. If you plan correctly, you can learn to maximize the flows and minimize the ebbs.
5. Take your total revenue number and divide it up by month, taking into account high and low sales months.
Think about promotional ideas you could use to help low sales months. Anticipate the natural fluctuation in your business and be prepared to outsmart it. Be mindful you aren’t just making a financial plan; you’re setting a clear intention for your cash flow.
6. Play with the numbers, month-by-month, until you are able to reach your ultimate goal number.
Voila! Now you have created your Money Map!
Doesn’t it feel better to plan a cash-rich future instead of being stuck implementing the cash-quickie strategy?
Julie Steelman sold her way out of Corporate America after generating over $100 million in revenue. She retired in Hawaii. She now helps entrepreneurs build lucrative, soul-satisfying businesses from the inside out. Julie is known as the entrepreneur’s selling mentor and the bankability guru.
Power Chicks Chime In: My favorite part of Julie's post is that she combines intentions with actions. Do you have the intetion of making money AND the actions to go for it? Have you already put into place any of Julie's Money Map steps?
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