Right! I’m back after a couple of days off.
Well, not so much days off, but a couple of days spent tackling a VERY BIG PROJECT.
What have I been up to?
Before I reveal all, let me ask you a question….
Do you ever notice how the monthly overheads just keep creeping up and up and up?
I run Xero book-keeping for my business and it’s all online, so even though I’m in Greece my “future brother in law” (who’s an accountant) can access it all and do my tax return for me.
But that’s not enough to keep track of my money, most bookkeeping software doesn’t project forward in enough detail for me.
For years now, I’ve run weekly “living” cashflow forecasts for both my business and my personal finances and let me tell you, it helps me sleep at night.
(Or occasionally not!)
I was shown how to do these cashflow forecasts by some very clever multi-millionaires I know, who use this simple but powerful method to keep track of their money.
When updated weekly with downloads from your bank account online, you very soon get a very good sense of what impact this expense or that, or this extraordinary expenditure and that, has on your future prosperity.
But oh my word! Those standing orders and direct debits do have a way of mounting up, don’t they?
And with an online business, every new bright shiny object you succumb to adds an extra $7.95, $27.95, $69.75 or even $97 or $99.
Before you know it, you’ve got $$$$ going out the door in bit and bobs.
And you try going online, logging into your various software accounts and finding where to cancel.
They don’t make it easy!
No, the only way forward is periodic software purges.
I have one about every six months (but I do review expenses and profit and loss every month).
I regularly cancel my debit card and, as the failed payment notices come in, I look very carefully to see if these three criteria apply:
1. Am I still using it
2. Is it still working (literally is it? Things break you know…)
3. Is it still earning it’s keep in terms of marketing or convenience?
If it’s not fulfilling any of those functions and I think it’s just a “nice to have” then I’ll lose it.
This last weekend I had a bit of a big revelation.
My business model is a lot simpler than it used to be.
Nowadays, I’ve got 3-4 “lead magnets with a couple of low cost “back end” products.
I’ve got 1 x mailing list and everyone is heading towards the membership site.
There’s just 1 x membership site with 3 x simple levels, the Academy, Mastermind and 1:2:1 Levels.
I didn’t need all the “big guns” software tools that I used to, when I was running 3 separate businesses.
Didn’t want to be jumping the gun and throwing the baby out with the bathwater, there is such a thing as cutting your nose off to spite your face and I didn’t want to get into a downward spiral of frugality where you never want to invest in your business.
But having said that, it’s just good business sense to keep running overheads low.
Overheads low = advertising budget = more leads = more sales = more profit.
So I had a big purge and managed to save myself over $600 a month!!
(With the help of my sister Sarah, who helped with moving some websites around to save on the super premium hosting I don’t need anymore).
Afterwards, I felt so much better.
And more “in integrity”.
Because now the total cost of the overheads I’m spending are very affordable. Anyone coming into the business new, would be able to afford what my business costs to run.
Practice what you preach Nicola, I thought.
So, what about you?
Do you have a small monthly amount you are able to invest in your online business? Would you like that amount to be as small as possible?
By showing you how to run my special cashflow forecast, we can help you get a grip of your money.
We can keep your running costs low so that you can invest in advertising to bring new prospects and customers to your virtual door.
Because without those, you don’t have a business and you either work for them or you pay for them.
I save my Members a small fortune, because I know the quickest, cheapest ways to do things.
Based on the time and money you have available.
The more time, the less money you can spend getting your business off the ground.
The less time…well, you may have to invest a little more getting things done for you, but I’ll stop you wasting that investment.
What do you think?
Fancy getting stuck in?
(I can also share the simple spreadsheet method I use to keep track of my personal and business cashflow, it’s all in there).
I taught it to my daughter and without being unkind, she didn’t shine at maths, but she could run this on her mobile phone.
All you have to do now is take that decision to get started. Get onto the VIP Waiting List for Clicks & Leads Academy here.
We are re-opening soon for new members and I’ve saved you a place.
See you inside!