Creating Steady Cash Flow | Business Cash Flow

Creating Steady Cash Flow: Top 12 Questions Business Owners Ask – Part 6

Creating Steady Cash Flow | Business Cash FlowFocus, Money (and lack of), Self-Doubt, CEO Success Style, Revenue Generating Activities vs. Non-Revenue Generating Activities, so many thing you need to think about as a CEO and business owner.

Where do you turn to? How do you balance it all?

In the last post of my series on the Top 12 Questions Business Owners Ask, I’m going to let you know my thoughts on these two questions!

11. There is so much information and so many personal development programs out there. I’ve bought them all yet I’m still not getting what I want! What do I do?

It’s normal to feel that way. When we go into business for ourselves, we do a lot of research and we buy a lot of programs and perhaps work with different coaches in order to get where we want to be. However, all the knowledge in the world cannot move your business forward. All the training programs on the planet cannot move your business up the ladder of success. The secret? You need to take action to get results.

One of the things I do when I work with people is put them on a ‘Download Detox’. This means that they cannot download any information off the internet and cannot sign up for any programs, whether free or paid, because all that information is getting in the way of ‘taking action’. When you are not taking action you are not getting things done and when you’re not getting things done, you are not growing your business.

12. How do I balance running a busy business and running my home?

This is such a good question as many business people are struggling to strike the right balance in our fast paced society today. For starters, you need to get really clear about what I call ‘critical musts’. Now, what are critical musts? Your ‘critical musts’ are those things – those prongs that are so crucial to creating a personal and business life that is both meaningful and fulfilling to you.

It’s not necessarily about setting goals e.g. ‘sell one coaching package this week’. It’s about creating specific intentions. For instance, one of my critical musts is having a happy and healthy home. So because I have that sort of focus, it becomes my compass almost. So if there’s anything that comes up that’s not connected to ‘my critical musts’ then I don’t do it. It’s not on my list and it doesn’t show up. It can go on the ‘some other day’ list but it’s not prioritized.

Imagine for instance that someone offered me the opportunity to do some high paying corporate coaching work abroad for six months at a stretch. Imagine that I was offered the opportunity to do public speaking on four different continents every month. Well, as this would mean lots of travel and time spent away from my family, I couldn’t do it except I could find some way to keep my family happy and healthy at the same time. This is one of the reasons why I leverage internet, social media and even webinar technology to reach my ideal audience.

In essence, keeping sight of my ‘critical musts’ helps me to juggle and keep things manageable. This principle can help you too. It’s all about clarity – being super clear and focused on what needs to be done and how.

For more information to help you create and navigate your road to revenue please visit my website at www.SmallBizBigBreakthrough.com

Have comments? I would love to hear them below!

Business Revenue Questions

Podcast: Top 12 Questions to Generating More Business Revenue (Part 5)

In this super short and practical Podcast Series, Businesss Growth Strategist Kim Pisolkar, answers the Top 12 Questions People Ask when it comes to generating more business revenue and profit.

Business Revenue QuestionsListen below and discover the answers today so that you can have the fun, flexible and profitable business that you envisioned on opening day!

Do you know what vibe you are sending out? Let’s uncover the unconscious messages you are sending with this quick podcast.

 

Want to find what it will take for you to stop firefighting against your never ending to do list so that you can have the fun, flexible and financially successful business you desire? There is a way and you can get it here!

For more information to help you create and navigate your road to revenue please contact us.

 

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

How to get in Sync with Your Business Partner

Teamwork | Partnership | Business PartnerBusiness partnerships can be a tricky thing, whether you know the person well (see my Huffington Post article on How to Run a Successful Business With Your Spouse) or found your partner through networking or other business opportunities. Sometimes we are thrown into these partnerships by an opportunity that is too good to pass up and while they may not all be the ideal pairings we need to be able to make the relationships work in order to have our businesses be successful.

Real Life Example:

A friend of mine recently told me about a partnership she entered with two other professionals to put on a free speaking series about their health related businesses. The goal was to educate the public while increasing exposure for each of the individual business. After two months of planning, multiple conference calls and nitpicking by one of the other speakers, my friend felt stressed over the event. It was taking more time than she had anticipated out of her already busy schedule. Everything from the posters to the invitations went through multiple rounds of edits. The nitpicking partner was in charge of promotion. Instead of focusing on exposure for the event she spend most of her time lining up a videographer to record the event and having professional head shots of herself taken so that she would be able to promote herself. She assumed the “if you build it, they will come” mentality about the actual event. The day of the event not a single person showed up.

What went wrong in this partnership?

Any new business relationship needs vision and boundaries. It is imperative that partners know what their individual visions are and how to mesh these into a vision for the company or event you are planning.

I encourage my clients to complete a simple exercise when entering any new venture:

  • Take 30-60 minutes each to write down your visions for the partnership.
  • What do you want to accomplish?
  • What are your goals?
  • Where would you like the business to be in five years?

Then take turns sharing what you wrote with your business partner. If your visions are similar, great! If they’re vastly different, talk it out and compromise until you’re both on the same page.

Other things to consider during the compromise stage:

  • How is communication working?
  • How are resources going to be allocated?
  • How is the pay structure going to work?

This exercise could change the trajectory or your business relationship greatly. Maybe you aren’t meant to be 50/50 partners; maybe you should try out a joint venture prior to forming a full on partnership.

From this unified vision, create shared objectives for what you want to achieve in the business that you can both be inspired and excited about. Whatever you do don’t enter the relationship until you’ve defined the roles and expectations for each person, this will save you stress and time down the road.

If you need help with this process, I have created a 5 step plan that will walk you through the process of creating a successful partnership and successful relationship with your partner. Just enter your name and email to get FREE access to this process and a FREE worksheet to keep you on track.

Do you have any tips or stories about partnerships you’ve entered in the past? I would love to hear them in the comments below.

Image courtesy of FreeDigitalPhotos.net

Images courtesy of FreeDigitalPhotos.net
Images courtesy of FreeDigitalPhotos.net