Where’s the Hidden Money Buried in Your Business?
The first week of January and the beginning of the New Year is always fascinating to me. For one, I’m totally in awe of how the previous year seemed to speed by in the blink of an eye. I’m constantly amazed as I get older how the years really do seem to be going much faster. I wonder if that’s just aging or the fact that I’m now paying a lot more attention and just noticing it. I’m choosing the latter!
One thing I’ve noticed that has helped me tremendously is I ALWAYS create my annual plan at the beginning of every year . In fact, I just took a day this week to do just that. I know if you’re running your own business or going to a job every day it can be hard to find the time to do this exercise, yet it TOTALLY pays to have a plan. If you don’t have one, trust me – you will be constantly putting out fires and have others leading you by the nose instead of the other way around.
Consistently EVERY year I’ve run my own business (and it’s been 5 years now) I always write down my plan in the first week of January. Spending the time to do this has always ensured that I had a tremendously successful year. It’s not complicated to do this. All you really need is a pen, a piece of paper and to allow yourself some time to create and put it together.
I start out with taking stock of the year before. I looked back on 2010 and created a short timeline of things that happened, events, accomplishments and I write them all down. Often times I can really see where the hidden money is or was in my business and how I can change that moving forward. And I really like to take notice of what I’ve achieved because I love to take time to celebrate my wins. (I find most people don’t ever do this – it’s REALLY important to do this!) I also like to take note of any failures or disappointments so I can let them go and also view them as lessons learned so I don’t repeat them again.
Next I do two things – I focus on my goals for the year in these five categories:
- Business – Map out my marketing goals, content for the year, my travel schedule , etc.
- Financial – Map out my monthly income goals and my annual goals and how I will achieve them
- Relationships – Map out vacation goals, weekly time together, etc.
- Spiritual – Map out my mental and spiritual health goals and how I’ll take care of myself
- Health – Map out my exercise goals and how I will stay healthy, etc.
Then I create my short plan for each.
Now after you do the first and the second exercise, focusing on your business and financials, you will get a glimpse of where the hidden money is your business. This is incredibly valuable, to find hidden money in your business. So how do you do it? Well, the best thing to do is when you’re taking stock of your business, you can usually find some patterns and see some areas that if you strengthened and fixed, or created a new program, or enhanced another program, or product or service you could generate more income.
It’s really that simple. This article is already too long, so let me give you a gift — If you want to find out more on how to find the hidden money in your business, I’ve written an article specifically on how you can do just that, PLUS it also talks about how to recession-proof your business. Click here to access this article with my compliments . In this article, I’m also going to share with you a resource that will tell you how I’ve helped hundreds of people create their own plans to find the hidden money buried in their business and how I can help you. So here’s to an amazingly prosperous New Year!!