Steps To Take When You Aren’t Making Enough Money In Your Business - a podcast by Classy Career Girl International, LLC
from 2023-10-12T09:23
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"Steps To Take When You Aren’t Making Enough Money In Your Business"
Introduction:
- In today's episode, we will discuss crucial steps to take when you find yourself struggling with insufficient income in your business.
- It's a common challenge for entrepreneurs who are scraping by and lack consistency in their earnings.
Segment 1: Mindset and the Foundation of Cash Flowing Strategies:
- The importance of addressing mindset and financial strategies when facing income challenges.
- The three foundational steps to start with:
- First: Prioritize savings as the initial step in securing your financial foundation.
- Second: Embrace a long-term perspective and focus on taking small, manageable steps.
- Third: Recognize that making $25 is a stepping stone to making $100, illustrating the significance of starting small.
Segment 2: Tip #1 - Recurring Revenue:
- The first tip for increasing income: Establishing recurring revenue through a 90-day coaching program.
- Exploring how to create, structure, and sell such a program to benefit both you and your clients.
- The systems, emails, and tools to facilitate progress and success in your program.
Segment 3: Tip #2 - Profit Goals and Financial Discipline:
- The importance of understanding your profit goals, aiming for a 15-30% profit margin.
- Setting clear financial goals and practicing financial discipline by not spending everything you make.
- The recommendation to avoid hefty upfront expenses in your business or ensure you can cash flow your expenses.
Segment 4: Tip #3 - Balancing a Side Business:
- The advice to build your business alongside your day job.
- Effective time management strategies, including prioritizing revenue-generating tasks.
- Balancing your entrepreneurial ambitions with your existing job responsibilities.
Segment 5: Tip #4 - Money Tracking and Appreciation:
- The value of tracking the money coming into your business and appreciating all forms of income, including discounts and deals.
- How this practice can provide a more positive perspective on your finances and boost your financial confidence.
Segment 6: Tip #5 - Setting Deadlines and Taking Action:
- The importance of creating deadlines to initiate action and propel your business forward.
- How setting clear timeframes can break the cycle of inaction and move you towards your income goals.
- Encouragement to set specific deadlines and hold yourself accountable.
Conclusion:
- A summary of the key steps to take when your business isn't generating enough income.
- A reminder that financial success is achievable with the right mindset, strategic planning, and consistent effort.
- Encouragement to implement these tips and start your journey toward a more prosperous business.
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