Tired of feeling like you are working endlessly but not seeing enough payoffs? You’re exhausted; admit it. But you know what? There is another way. You can make your money work for you. Sound too good to be true? It’s not–but you have to trust me.
It’s time for you to look at your numbers and use those figures to give you direction. Don’t just go around the obstacle, but follow these five easy steps to move the obstacles out of the way, for good.
Step 1: Financial Self Care
Understand and review your numbers regularly, make it a habit and build over time. Like learning to brush your teeth as a kid, this is something that you have to make routine. How do you do that? The first step is to commit. Go on; pick up a calendar right now. Schedule 1-2 hours each week devoted to your financial self-care. You’re busy, I get it, but this hour or two each week is your key to financial knowledge and eventual freedom. You want to establish a routine so that eventually, it will feel icky to be out of balance with your money.
Step 2: Cash Flow Awareness
Be aware of not just how much money is going in and out, but how often and why. What is your typical monthly income and expenses? If this stuff makes your head spin or you just can’t seem to get the moxy to do it, that’s fine. Hire someone. Tapping other people’s skills when you need to is not a sign of weakness or defeat, but one of strength. Being aware of your cash flow is essential. How can you make strategic moves if you don’t’ know where you’re starting from?
Step 3: Money Leaks
Look at where money leaks out of your business. Let’s get honest. This can be tough, but it’s the place that you can make the most immediate change. If you look at your habits and put a strategy in place, you can manage your future choices and plug the leaks. That sense of control is worth it. There is no reason to stay helpless when you can gather strength from knowledge.
Step 4: Financial Foundation
Build a financial foundation and give your business a platform for sustainable growth or new directions. This means that you have regular clients to cover your monthly expenses, enough insurance coverage and a month’s rent and payroll expenses in your account as a buffer. When these things are in place, you can start to design a life you want by setting up the business in a way that allows you to live the good life now–that’s right–now–not just at retirement.
Step 5: Dream by Numbers
This is the fun part! Once you have completed steps 1-4, you’ll now create a financial plan that will lead you to your ideal lifestyle. Finally you’ll know your numbers, love your numbers, and watch your big dreams turn into big realities. To do this you have to connect the vision you have with a map of what it will take to achieve it. Forecasting like this lets you think bigger. Dreaming by Numbers gives you the freedom to build your business around your life.
For step-by-step guidance, exercises, and detailed charts that will help guide your business to financial success, see my Money Recharge Workbook