The first month of the year is nearly done, have you set your business priorities yet?
How you structure your time now determines whether your cash flow will look naughty or nice this 2014. So, in addition to keeping God in the loop through prayer throughout the process andscheduling an official minimum three-hour comprehensive annual 2014 planning session before New Year’s Eve,
here are 6 steps to help you and your cash flow be friends:
1. Determine Your Starting Point – You need to know the balances to all of your accounts, your current income and expense breakdown. Income and expenses affect your cash flow and your financial reserves affect your options. Look for numbers —incomes or expenses— that stand out and can be improved upon in 2014.
2. Calculate and Categorize Your Revenue Streams – List the various ways you earn money and your total earnings year to date.
3. Understand Revenue Generation Flow – For each of your revenue streams chart the marketing and sales process from the start, when the customer is engaged, to the ending point, when the customer purchases your product or service. Look for lack of clarity or spots where the flow gets clogged. Analyze and make adjustments to improve conversion rates.
4. Set New Targets for 2014 – Steps 1 through 3 allow you to more accurately forecast where the money will come next year. Base the targets on actual products and services you plan to offer.
5. Daily Incorporate the Revenue-Generating Tasks – Spend most of your work time with activities that lead to increased revenue.
6. Increase Your Focus and Productivity – Following your plan efficiently will give you the assurance when you evaluate your results that the issue is not with your productivity and focus, but rather with the approaches you are taking. This spot work on cash flow can be incorporated into your more comprehensive 2014 annual plan.
Staying focused until the end will help you enjoy even more the relaxing connecting time with your family.
Catholic Momprenuer Biz and Life Tip: Carve an hour to work through the steps above to give you, your cash flow, and your family the break you deserve.
Christina Weber helps Catholic mompreneurs fully engage the power of their calling, earn more in less time, and get back to enjoying their families. If you need help to gain clarity on Gods’ will in your biz and personal life, create action plans to get there, and learn how to be motivated and equipped to juggle all the plates to make it happen, take advantage of getting one of ten slots of Christina’s complimentary “Getting It Done” session with Christina for your rock-solid success foundation in 2014:
catholicwomensguide.com/getitdone/