Six business musts I wish I would have done but I didn’t until now.
Don’t think of less of me but for the last eight years I have been running my business in reactive mode.
What does that mean?
If someone would email me, I would react. If I got a new business idea, I would react. If I needed to get more clients, I would react.
There was no planning. Just some to-do lists and multiple hours spent organizing but not implementing.
Was I profitable in my business? Yes.
Could it have been way better? Yes.
As I start to rebuild my business, there are so many things I realized I missed so I want to share them with you.
1. Start with a business plan. It sounds so simple but now that I have created my business plan and am helping others do the same, I’m loving the results.
- You can apply for grants.
- You can create a crowdfunding campaign.
- You can identify any potential issues.
- You can set clear goals and guidelines for managing your business.
- You get really deep with all aspects of your business which makes my branding and marketing heart extra happy –
like your mission, goals, vision, your target audience, market research, competitive analysis, marketing strategy, pricing and financials.
2. Establish business credit. After you have registered your business with your state, get an EIN (your business social security number) from the IRS. Then:
- You can open a business bank account.
- You can get your DUNS number (business credit bureau).
- You can open net 30 accounts so you can establish a good payment history.
- You can get access to cash for growth and expansion.
- You can protect your personal score.
3. Time management is a must. Figure out how much time you really have for your business and work within that schedule. It can be scattered about but stop working all of the time. Also, make yourself a “Stop Doing” list and start delegating those things.
4. Establish boundaries. One thing that I have done for years is not have my business email on my phone. Otherwise, I would check it constantly and wouldn’t be present in life. You can also turn off notifications and set other boundaries. Create a welcome package for new clients so you can set your boundaries from the start.
5. Be realistic with your goals. Don’t set your revenue goal to $1,000,000 if you aren’t charging enough or have enough time to generate that income right now. One exercise I like to do with my clients is to look at their monthly revenue goal. Divide that by the highest/most popular service price to see how many clients they need per month. Then determine how long that service takes to complete. Does that fit within your allotted time you can work?
6. Realize that balance is attainable but you have to look at it differently. Most people think that balance is not possible. But it depends on how you look at it, if you are looking at it with a balancing scale where half is personal and the other half is work – it is not possible. But if you look at it like a pie then you can make sure that each thing of importance has a piece of the pie.
Changing habits, mindset and lifestyle isn’t easy but I think you know by now that it’s the only way to get balance.
The good news?
You’ve got ME in your corner to make it a little bit easier.
While I can’t change how challenging getting balance can be at times, what I CAN do is throw as much LOVE at your as possible! (Because, we all need it!)
After all, I haven’t invested all of this time, money and attention into breaking the burnout cycle for nothing. I did it so I can give YOU the best and most value tips, tactics and advice.
AKA ZERO SUGARCOATING!
So I want to throw some love at you today.
The VIP Business Planning intensive is just for you to help you blast through overwhelm, overworking and overload in a super affordable and efficient way.
Let’s tell overwhelm, overworking and overload to take a hike, shall we?