Just as the how is as important as the what, the being is as important as the doing.
Do you have a clear picture of your businesses cash flow? Do you know how much money you need to make? How much you will spend? How you will bring home the bacon? When you're seeking formal funding such as a bank loan or grant, investors will go through your financial statements with a fine tooth comb, they'll want to know your financial projections and will examine your profit and loss statement, balance sheet, and cash flow statement. Is your business financially ready for success?
In our globalized, connected world, it has never been easier to start and run your own business. The basics are simple; you need to sell something that people want to buy. You need to practice good cash flow management, you need an operating plan, a strategy to get the word out, and a good idea of the kind of growth you'd like to see in your business.
There is no cookie-cutter approach to running a business, when planning your business you must take into account your unique situation and make adjustments as needed.
Your business is a reflection of you, your values, your vision, and your voice.
You set up shop because you want to do things your own way and make your unique impact on the world. Your business should reflect your vision, values, and voice.
Your vision is the big picture of your business and your life. It’s where you see yourself heading and how you're making a positive difference in your community and the life of others, what success looks like and how it feels to you, the fulfillment and meaning your get out of life and the work you love.
Your values are what you hold as important to you. Your values are your lifeblood. They are what make you hustle and flow. You might honor your personal values through the work that you do, so your business and personal values may be the same.
Your voice is the unique way in which you make your mark in the world. Your authentic voice allows you to stand out from the crowd. If your vision is the big picture you are painting, and your values are the colorful paints, then your voice is like the beautiful brushstroke you will use to bring your vision to life.
Your business may grow and unfold in unexpected ways. You'll gravitate towards things that you can see more clearly because you know what you're looking for. And by simply moving forward, you'll discover many hidden opportunities that will unexpectedly enhance your business and your life. The more connected you are to your vision; the more likely you will keep progressing toward it.
Your planning process will be constantly evolving.
If you are an aspiring entrepreneur I would encourage you spend 10 minutes jotting down some reflections on what has worked for you in your previous jobs and what natural gifts you have that you can use in your business. If you are seasoned entrepreneur, spend those same 10 minutes journaling about what has worked in your business and what approaches have been successful.
If you haven't already completed your business plan, might I encourage you to begin today? It is the most important tool to knowing where you're headed. Your business plan helps you get to where you want to go on your entrepreneur journey it's a roadmap that articulates your vision and the detailed steps needed to bring your vision to life. It helps you track how well you are doing with your goals and helps you make decisions that align with your overall vision. By taking time to create your plan, you show that you're committed to your success and that you mean business.
Reconnect with your creativity and fall in love with your business.
The more you explore the more you will learn about your business. So make sure you sign up for my blog updates and join my business development community. Occasionally I'll offer a tip or resource, make a suggestion or offer an event to help your excel your business to new heights.
Set your intention for your businesses vision. The most important thing is to get your ideas from your head out into the world, and whatever creative form that it takes. The sky's the limit!
There are many ways to increase your current cash flow and free you from the threat of financial disaster. We will cover these strategies to increase your cash flow: