Get Off the Roller Coaster – Creating Consistent Cash Flow In Your Business
As entrepreneurs consistent cash flow can be difficult to create and predict. One month you have 10 clients and the money is great. The next month, 2 clients drop out and 1 finishes her program. The next thing you know, you don’t have enough money to pay your mortgage/rent payment.
Does this kind of scenario sneak up on you? Many of you spend a significant amount of time worrying about money, clients and whether you’ll be able to pay your bills next month.
There is a solution. It involves realizing that you are in control of your business. Clients don’t appear mysteriously and they don’t drop from the sky – at least not consistently. They are an effect. The cause is you. It is your ability to connect, to sell and put yourself in front of your ideal potential clients in a planned and pre-meditated way.
Here are four steps to get you started:
1. Keep a client projection sheet. This sheet records all of your current client names, start dates and end dates. Look at your projection sheet regularly. If you know you are losing 3 clients in January, you should be planning out some major marketing efforts in November, December and January.
2. Realize that the time from when you meet a potential client to when that person becomes your client can be as little as a day, but as much as 3 months. So you have to be continually planting seeds to make sure that new leads keep coming. It’s Murphy’s law that whenever you need new clients “overnight” is the month it takes 3 months to close them!
3. Plan out your marketing numbers at the beginning of the month. For example in January you might decide to go to 4 networking events, do 1 workshop and meet with 3 referral partners. Now all you have to do is fill in the blanks. Where are the events? Where are you going to do a workshop?
4. Make sure you are marketing both offline and online. Don’t hide behind blogging, doing teleseminars and social media. But don’t spend all your time out networking without doing some online methods as well. They work together. You might meet someone at a networking event who then hears you on a teleseminar and decides to do a session with you.
The keys are: projections, planning and consistency. Keep at it and you’ll start to see your cash flow even out. If you are looking for serious business training please visit http://Revenuebreakthrough.com Monica Shah is an amazing business mentor/coach with a 98% success rate in helping her clients reach 6-figures and multiple 6-figures in less than a year.
Go be bold and put your plan into action today.