You want a regular cash flow in your business. Well, you definitely should. That’s the main reason why you started a business. Right?
I mean, you don’t have a business if you don’t have cash flowing in.
It’s just a hobby then.
You don’t want to be spending money all the time and not making anything.
Or doing all kinds of work for your business and not actually bringing anything in.
So how do you actually create a regular cash flow in your business?
The super simple answer is:
Create something to sell and tell people about it.
But I know you are going to look at me and say it’s not really that simple.
It really is though.
No, people aren’t going to immediately start buying it from you if they know nothing about you.
It’s going to seem like you are posting all the time about your offer, but the people in your audience only see about 1 out of every 10 posts you make when you post on social media. (Hate to be the bearer of bad news on that, but it’s true.)
Find Your Breakeven Point
The first step to even beginning to create a cash flow plan is to find your break even point.
What is the total amount of money that you need to bring in so that your gross profit is zero? Not negative and not positive. Zero.
This is the total amount of your monthly expenses that you must pay in order to keep your business running smoothly.
What is the total amount of money that you need to bring each month in order to just keep your business running? Make sure you include your own pay in this as well.
Set Your Goals
Once you know the minimum amount of money you need to bring in each month, you can set goals for how much you really want to bring in.
You want to set ambitious goals, but goals that are also still achievable.
How much money do you really want to bring into your business? And how much do you really believe that you can bring in?
Look at the last 3-6 months. How much money did you bring in? How close to achieving last month’s income are you right now? What do you need to change to at least meet last month’s income?
An easy way to push yourself is to increase the monthly goal by 10-30% for the next month.
Push yourself to set goals that seem just outside of your comfort zone, but you’ll be ecstatic to be able to achieve these goals.
Write Out All the Ways Someone can Pay You
Now sit down and create a list of all of the ways that someone can pay you in your business and how much each of your offers sells for.
Side note: It’s a good idea to keep this as a spreadsheet that is easily accessible most of the time. Put the title of the offer, the cost, a link to the sales page, a direct link to the buy button and even a comments section where you list details about the offer.
When you have an easily accessible document of all of the ways that someone can pay you, it’s easier to plan out what you are going to sell and when.
You just need to pull up the list and ask yourself what you want to sell right now.
Create a Plug and Play Way to Figure Out How to Meet Your Goal
You have your goal of the total amount of income you want to bring in and you have all of your offers that you can sell in your business.
So now you just need to take and plug in how many of the offers you want to sell to meet your goal.
Want an easy way to figure out this plug and play income planning? Get my Profit Plan Workshop that includes a worksheet that you can easily just plug in your information and the calculations will happen for you.
When you know how much of each of your offers you need to sell to meet your goal, it’s easier to create your marketing plan to sell to your social media followers and your email list.
Create a Marketing Plan
Since you now know what you are going to sell for the month, you can sit down and create your marketing plan.
What are you going to send to your email list?
What are you going to post on social media?
Where else are you going to advertise?
And get out there and start marketing and making your sales.
The Hardest Part
The hardest part of planning a cash flow plan or your profit plan is going to be figuring out what to sell and then creating the actual marketing plan.
But when you know how much money you need to make and then what your goal is and you have a way to just plug your offers in to get to your goal, part of the job is done.
Then you just need to get out there and start making the sales.
What does your cash flow plan look like?
Have you actually created a cash flow plan that you can follow and achieve in your business?
If you haven’t yet created your plan, why not? What is holding you back from creating it?
The more cash you bring into your business, the easier it is to keep bringing in more cash.