Rocking Your Biz 2013 – 6 Month Biz Plan

by Natalie Alaimo | Follow Her On Twitter

I’m not the best at setting plans much past the beginning of January.But I’m beginning to learn that the more you set your intentions, then actually review them on a regular basis, the more of them you achieve.

Since it’s almost the beginning of a new financial year and there is still 6 months remaining in 2013, let’s set some intentions, goals and plans about what you want for the next 6 months.

I use this approach with my private coaching clients to set up the framework and intentions for our time together.  I like to focus on four main areas;  Ideal Day, Income, Hours Worked and Products/Services. Let’s break them down and explore each area further.

womanhandsinair

Ideal Day

I love the insights you get from this question alone.

What would you like a normal, everyday, ideal day to look like?

I’m not talking about spending days being a tourist around the world and never working – that would be a unique or unusual day.  What would a normal day in everyday life look like?  You, of course, have a business to run and that needs to be included.

Often, with my coaching clients, they aren’t that far off what they want to achieve, and it can be really small tweaks which make a really big difference.

It might look like this; (not mine just one I made up)

Rise at 7am, breakfast with the family before dropping the kids at school, a couple of hours of work, followed by exercise (I would choose tap dancing), quick lunch with girlfriends (or a coffee), pick up the kids, dinner + showers etc, followed by a couple hours of work in the evening.

It can really be whatever is important to you.  You might also like to look at things which you would like to achieve over the week and then block time out for that.  For example;

  • 3 hours of exercise
  • 1 hour of self care (massage, meditation, walking, coffee with friends)
  • Date night + friends nights

Working on a weekly timeframe might work better for you.  Don’t get too caught up, just make sure there is time for what’s important to you.

I’ve recently started dancing again – 3 x hour long lessons per week + travel time.  They are all at a variety of times; 10:30am + 11:30am and 9:30am. So I have just blocked out the time in my calendar (including travel time), just like they were a client appointment.  I’m so much happier having this time for myself.  I’ve also found that I’m happy to get up early, work a little later or spend some time over the weekend to get stuff done if I need to.  It also means that when I’m at ‘work’, I’m super productive and get stuff done.  In effect, I’m achieving the same in less time and getting to do the things I really enjoy.

Action Step:

Write down what your ideal day (or week) would look like – remember to include time for; exercise, family, work, self care and whatever else is important to you.

I would love to hear what you would include in your ideal day.  Jump over to my Facebook Page and share away.

Income

To fund the lifestyle you want – how much income do you actually need? Now, I want you to be serious about this.  I remember doing this exercise with my mum a few times, and Leonie likes to dream big – and of course there is nothing wrong with that – but I want you to create enough income for the lifestyle you want.  Leonie used to set up goals for turning over multiple millions of dollars each year, but when you break it down – you don’t need millions of dollars each year to live the life you want.  I can guarantee you’ll need less than you think.

There is a great exercise in the beginning of the Four Hour Workweek by Tim Ferriss called Dreamline, where you work out what you want to do, be and have.  Then add a cost to it.  Often you don’t actually need that much money.

Therefore for you, work out how much income you want over the next 6 months.  Then break it down month by month.  It might look something like this;

Month

Income

July

$7,000

August

$10,000

September

$14,000

October

$10,000

November

$20,000

December

$8,000

Total

$68,000

I’m sure you have seen something like this before, most people have.  And of course this is great to get clarity for each month.  Of course if you are creating these numbers you have to consider your products and services and price points.

However, what most people fail to do at this stage (me too sometimes), is further break it down, and work out how they are actually going to generate this income – i.e. what products and services you are going to sell or provide to get this income.  Therefore the month of September might look like this;

Product/Service

Income

Service A @ $1680 x 1

$1680

Service B @ $440 x 4

$1760

Service C @ $650 x 5

$3250

Service D @ $550 x 5

$2750

Product A @ $3500 x 1

$3500

Product B @ $47 x 10

$470

Total

$13,410

This way you have a clear picture of exactly what you need to sell or provide to get the income you desire.  You can also make decisions on the types of marketing and the time you spend marketing these.  For example if you are trying to sell 10 of product B and this product is an online membership site (like the Ask Natalie Academy), then to sell 10 memberships you could hold a webinar.

Working backwards from 10 memberships you can then work out things such as; how many people you need to register, how many marketing dollars you can spend, where are you going to advertise, etc.

Or alternatively you might know that you have one or two speaking engagements which will result in those 10 sales so you don’t have to do any marketing for that product.

Action Step;

  • Work out how much income you want to achieve each month

  • Break it down to exactly what products and services you are going to sell to achieve this

  • Review it weekly

This leads us in nicely to the third point;

Hours Worked

Based on both your ideal day and income how many hours do you need to work to get the results you want?  I believe that most people (me included sometimes), spend too much time on the ‘wrong’ things which leads us to not being able to achieve what we actually want.  Remember I said that I’m dancing three times per week – it’s in my diary and I make sure I get all my work done around it.  Yes I have days when I spend hours online, wasting time on Facebook – but most of the time is spent doing what’s most productive for my business.

I do this by creating to do lists, action plans and being held accountable by my coach.  I’ve had a business coach for years and I think they are a great investment.   Running your own business can be tough, often we work from home and don’t get much interaction with other business owners.  Having the right coach will not only have you achieving more but allows you to discuss your business with someone who understands what having a business is all about (as most of our friends don’t).  For some reason I have lots of friends who are school teachers – and yes I understand the work hard – but at the end of the day they get a solid paycheck each and every week. They don’t understand what it’s like to be solely responsible for your own income, and, as you know, some weeks it’s not much.  And our partners don’t get that you need to spend time on things such as blogging, newsletter writing, and Facebook!

Sorry, I digress, and that wasn’t the point of this section.  I believe there is no point running your own business if you don’t take some benefit and luxury from it. Yes, you have to work hard, but if you are taking on the risks of running a business, then take the benefits too.  Enjoy the flexibility and freedom.  And to do this you must set your intentions about how much time you are going to work.  Because if you are going to work 60+ hours for less money than a salaried job – what’s the point?

At the beginning of last year, I decided that I wasn’t going to work before 9am or after 5pm Monday to Friday.  And yes I’m writing this blog post on a Saturday, but I wanted to do this now – as Dean is fixing the wardrobes and in a few days I’ll be in Europe for a month!  And since I’m dancing 3 times a week now, the 9 to 5 rules is more flexible, but mostly stuck to.  I’m lucky at this stage, as I don’t have children to work around but I think it’s important that everyone sets their limits.  Just because you work from home, and there is work you can do, doesn’t mean you should do it at all hours of the day.

Be clear in how many hours you want to work and stick to it.  Remember to factor in your ideal day and income goals.  Some days I’ll start late and only do a few hours work, other times I’m up at 5am to fly to Sydney for the day and not home until 9pm.

Action Step;

Determine how many hours per day or week you are willing to work (make sure your ideal day and income are achievable from this)

As a side note, I follow Leonie Dawson, who runs the Amazing Life + Biz Academy and she is turning over, from memory about a million dollars and often talks about how she only works 2 hours per day.  But during those 2 hours she is super productive (and she has a small team) but it is possible.

Products/Services

The last section you need to set some intentions and goals around are you products and services.  Some businesses will have only a few products, while others will have lots of products. The idea behind this section is to determine what exactly you want to offer.

Determining this will help with your income goals + hours worked and ideal day.  Let’s say you are currently an accountant offering small business tax returns and general accounting services.  On average you have 10 clients with each of them taking 10 hours to complete their work. Therefore you have 100 hours per month of actual work (about 25 hours per week).  If you wanted to reduce your hours worked and/or increase your income think about what other products or services you could offer.

What about a 2 day business finance workshop where you get 20 people in the room for $1000 each?  $20,000 for 2 days work, plus marketing, course preparation, etc. – but you get the idea.

What about creating packages for your clients where you are adding value but reducing the time you are spending?  Helping them with bookkeeping (which you outsource) which means less accounting hours but the same income.

Within any business there are options for increasing customer value (and spend), reducing hours and leveraging your time.  Restaurants could hold special events, hairdressers provide packages or coaches could create a new product/program/launch, etc.

Action Step;

Determine what your products and services are and what else you can add to it.

Create a list which includes;

  • how many you want to sell
  • how you are going to deliver your product/service ie face to face, online
  • how are you going to market your product/service

Write down as much detail as possible.

Setting your intentions for your business does take a little bit of time, but I can guarantee that it’s worth it.  Once the intentions are set you must monitor your progress regularly, ensure you are on track and make refinements as required.  I like to do this with my coach and business partner.

To help you with working through all this, I’m launching some new private coaching packages and would like to offer you a free 15 minute, no obligation chat if you would like me help to take your business to the next level.  To find out more and book your session click here. As I’m in Europe at the moment I’m taking bookings for my return in late July.

This is a limited offer.

Due to time restrictions I can only take on a limited number of clients.  If you think this is the right fit for you, please book in your session now.

 

Related Posts Plugin for WordPress, Blogger...

Get updates ... it's Free!
Join me and get a free Social Media plan.
Enter your details below.



     "I think you ROCK!"
              Glenn Kirkwood "That Referral Guy"

Comments on this entry are closed.

Previous post:

Next post: