Money Goals: Track Your Progress

You’ve probably heard that financial coaches are great for helping individuals and families get their financial lives in order. And now you’re wondering what financial coaching is and how it can help your small business. Financial coaching is an interactive process where a coach supports a small business owner setting money goals, monitoring progress, developing plans to reach those goals, and staying motivated. It’s like having a personal trainer for your finances!

What financial coaching is and how it can help your small business money goals

Money goals are essential for any small business owner. Whether you’re trying to save up for a new piece of equipment or looking to stash away some extra cash for an emergency fund, having a set goal in mind will help keep your financial future on track. Here are a few tips for setting and achieving money goals:

1. Come up with a specific number you want to save/earn.

2. Make a plan of action- how are you going to reach your goal?

3. Stay motivated by tracking your progress and rewarding yourself along the way!

Financial coaching is an increasingly popular solution for financial success. Financial coaches can work with professionals from all industries who need financial guidance, whether starting their first job, finding financial stability as a start-up entrepreneur, or running an existing company.

How financial coaches work with their clients

A financial coach is an excellent resource for small business owners who want to increase their company’s bottom line. Financial coaches can help you set money goals, create a plan of action to reach those goals, and keep you motivated. They can also provide valuable feedback and advice on how to improve your financial situation. Ultimately, financial coaches want their clients to be well-informed and well-balanced when it comes to money matters.

With this said, know that a financial coach is different than a consultant, advisor, or planner. Financial coaches are not personal or wealth advisors. For example, in my coaching practice, my expertise is in small business financial coaching. However, I have a network of financial professionals I can trust to care for my client’s personal financial needs.

Financial coaching services offered by our company

I teach small business owners to strategize using their financial data as a foundation. I show my clients how to make smart money decisions and cultivate good money habits.

Creativity and flexibility are essential for small business owners. Therefore, when choosing a financial coach, make sure they have experience running a business.

A financial coach should be experienced and able to provide financial coaching services by:

– teaching financial management skills and strategies that work for you, your business, and your lifestyle.

– co-creating an operational and financial plan that’s easy to understand and implement.

– brainstorm with you opportunities to make and save money

– serve as your accountability partner to help you achieve success                 

-creating money goals that are (SMART) specific, measurable, achievable, realistic, and time-bound.

Why financial coaching may be an excellent option for you and your small business

There are a few key reasons small business owners may find financial coaching a valuable investment.

Perhaps the most important reason is that financial coaching can help business owners stay accountable to their money goals. When you have a supportive professional helping you track your progress and guiding the way. It’s much more likely that you’ll reach your target!

Financial coaching can also provide relief and peace of mind. Knowing that you’re on track with your finances can be a massive weight off your shoulders. It’s challenging for entrepreneurs and small business owners to carry the pressure of running a company on their shoulders. Having another perspective helps think through solutions.

Finally, financial coaching can help improve overall well-being, both in your professional and personal life. When you feel good about your finances, it shows in all aspects of your life. If you’re looking for advice and guidance, financial coaching may be the perfect option for you and your small business!

What to do if financial goals aren’t matching up with economic reality

If you find that your financial goals don’t match your economic reality, it might be time to reconsider your plans. Maybe your dream was too ambitious, or you need to find a different way to reach your money goals. Whatever the case, don’t give up. There are plenty of ways to achieve financial success!

A financial coach can be a helpful resource for financial goal setting, as they can guide you toward realistic ways to increase sales and help keep you on track. For example, I help my clients create “realistic with a stretch goal” budgets. They may also be able to talk through some money guilt or shame with you.

The benefits of financial coaching for small businesses

A financial coach can help small businesses achieve profitability and economic growth. Financial coaching can help business owners create and adhere to a budget, identify and reduce financial stress, and make intelligent financial decisions that will improve the overall financial health of their business. By working with a financial coach, small business owners can learn how to better manage their finances, which will result in a more successful business.

More than half of small business owners experience financial stress. By working with a financial coach, they can gain financial peace, reach their money goals, and successfully manage their finances. Having financial stability will result in improved cash flow and less financial stress, which is motivating for most business owners.

Another benefit of financial coaching for small businesses is financial education, which will allow business owners to make intelligent financial decisions that improve financial health.

6. Questions to ask before deciding on financial coaching services for your company

What financial coaching services are offered?

– How will the financial coach help me and my business?

– What is the financial coach’s experience?

– Is there a contract or commitment involved?

– How much does the financial coach cost?

– Are there any reviews of this financial coach?

7. Ways that financial coaches can help you reach your goals soon

Small business owners should always look for ways to improve their immediate cash flow situation. One way to do this is by setting short-term financial goals and implementing a plan of action to achieve them. Here are a few tips for improving your immediate cash flow:

1. Please make a list of your current expenses and prioritize them by importance.

2. Cut back on non-essential expenses until you’ve reached your goal.

3. Find new sources of income and put that money towards your goal.

4. Stay motivated by tracking your progress and rewarding yourself along the way!

Conclusion

When financial coaches are brought on to work with small businesses, they are often tasked with tackling the financial side of things. Whether you need help increasing sales or want advice about how best to cut expenses, a financial coach can be an invaluable resource for any business owner looking to take control and reach their goals soon.

If you need help as of yesterday, please don’t hesitate to reach out and apply for a complimentary consultation. We’ll talk about your biggest challenges. If you give me your profit and loss sheet, we can review this and decide if we’re the right fit for coaching.

How small business owners can survive hard times

Money management is critical for small businesses. Here are three financial tips to help small businesses stay afloat and in the black. 1. Focus on what you can control 2. Create a budget 3. Stay resourceful 4. Hire an experienced coach

Let’s first define what money management is for a small business

Money management for a small business concerns the daily, weekly, monthly, quarterly, and annual management of finances. This includes income, overhead, expenses, cash flow, assets, etc.

Of course, there is so much more, but for this article, I’m keeping a small targeted focus so my readers can leave with ideas to implement ASAP. Quick implementation leads to quick wins, which also opens up creativity in solving problems.

If you’re in survival mode, the last thing you want me to write about is the extensive picture business school definition of money management.

Focus on what cash you can control in the short term

Small business owners need to focus on cutting costs, saving time on processes, and contacting current customers for more orders. This will help them stay afloat during difficult times.

Money management decisions can be rough for business owners who are frustrated and stressed out. When you’re in this space, I recommend that you step back and brain dump all of the ways you can call in cash. Once you do, look back at the list and grade your findings as net 30, 60, and 90.

First, for net 90, consider these as long-range cash in options such as applying for a grant, tax credit, or loan. It’s important to seed these cash opportunities now (net 30) with an expectation that you could receive this cash net 90 or more.

Second, for net 60, look at your order history and reach out to customers who typically place orders around this time. If you’re a service provider, know your client’s trends. When does their fiscal year-end? Who has a budget to hire you now?

Third, focus on calling in the cash you can bring in within the next 30 days. A couple of examples are calling up customers that owe you money. Or talk to customers about those orders they keep pushing off.

Save time because time is money.

Making small changes to save time is another way small business owners can cut costs. They should consider automating processes, switching to online order forms, updating money management software, and using templates to save hours of labor each week. A small investment of time now will save small business owners time and money later.

You don’t always need a lean expert to help you streamline processes. You’re natural and don’t even know it! Think of making a sandwich in your kitchen at home. How annoying is it to zig-zag from cabinet to drawers to the fridge when you can’t find what you need when you’re hangry? A small business office is the same. Think of the small daily annoyances and tweak the system to get more work done in less time.

Budgeting and Money Management

The number one issue in creating budgets is that you need to be realistic about how much you spend and bring in. Then, complete the budget from there. Create small stretch goals to reduce expenses by 10% and increase sales by 10%. Install these goals into your realistic budget. Please make it so that your monthly budget within your money management system is a reasonable SMART goal to attain. It’s a feel-good win when you cut expenses or call in more sales by 10%.

Invest in a financial coach

Small business owners need to consider investing in a small business financial coach who is experienced and encouraging. This coach should have survived hard times in the past and can share their war stories with you.

The goal is for small business owners to gain the knowledge necessary to make successful decisions about their small businesses’ money management strategies and daily operations rather than paying professionals to do it for the long run.

Build that money muscle! The next time you’re in a crunch, you’ve exercised your creative money skills and resourcefulness, which means you’ll be ready.

As a coach, I believe in teaching my clients what to look for. We analyze their financial statements together to brainstorm opportunities to make and save money. We do this each month to find the money story. Then, we pinpoint short-term goals to achieve, create an action plan, take charge, and reevaluate. What worked well? What didn’t? How can we do better the next time?

Need help? Plenty of resources teach money management

Think of your resources in the same way you think of cash control. Net 30, 60, and 90.

Net 90 Resources that Pay Off Over Time.

There are many free small business resources for small business owners to research and improve their small businesses. Small business magazines, blogs, and articles are other small business resources small business owners can use to find financial training.

Net 60 Resources

Small business associations offer information, classes, and seminars which are often free or low cost. Check out your local Women’s Business Development Center, the Small Business Administration, and your local college small business school. Usually, these schools are well connected and well resourced.

Find my book, My Money Pivot: An Entrepreneur’s Guide to Finding & Making More Money. And read my articles about increasing sales and decreasing expenses. I give plenty of free strategies in my writing.

Net 30 Resource

Connect with me and apply for a complimentary consultation. If you share your latest profit and loss statement, I’ll talk through it with you, and together, we’ll see if we’d be a good working fit. We’ll also talk about your business situation and what’s eating at you. This is a no-pressure conversation.

Conclusion

Small business owner faces an uphill battle when it comes to money management. Fortunately, there are many resources available that can help you stay afloat and in the black. If your small business is struggling with cash flow due to market changes or other unforeseen circumstances, reach out today for more information on how we can provide a customized solution tailored specifically to your company’s needs!

How to Create a Marketing Calendar

If you’re like most business owners, you probably don’t have enough time in the day. You’re always trying to find more hours to get things done. One way to help free up some of your time is by creating a marketing calendar. This will help organize your marketing efforts and ensure that everything gets done on time.

First, we’ll talk about differing marketing strategies. Then, this blog post will discuss creating a marketing calendar for your business to help execute those strategies. We’ll also provide some tips on making the most of it!

Marketing and Advertising

Advertising is a form of marketing that involves paid placement of messages to promote a product or service. On the other hand, marketing is a broader term that includes all activities used to promote a product or service. This can consist of advertising, but it also has public relations, customer service, and even sales.

Therefore, you can also schedule your advertising activities on your marketing calendar.

Marketing Communications

Marketing communications is creating, managing, and delivering marketing messages to customers. This can include public relations, customer service, and even sales. It’s essential to have a coordinated strategy for all of these activities, and that’s where your marketing calendar comes in!

Let’s not forget word-of-mouth marketing!

WOM is a long marketing communications strategy that you don’t have direct control over, but consistent action is vital.

One way to nurture word-of-mouth marketing is by providing excellent customer service. Make sure you respond to customer complaints and questions quickly and effectively. You can also encourage customers to leave reviews on your website or social media pages. Additionally, you can hold contests and give away prizes to encourage customers to spread the word about your business.

What about viral marketing?

There’s no surefire way to guarantee that your marketing will go viral, but you can take some steps to increase your chances. First, make sure your content is exciting and engaging. Make sure it’s relevant to your target audience, and make sure it’s high quality. A marketing calendar can help you space out all planning, execution, and follow-up tasks. Mainly, staying consistent is what you want.

Now, onto your marketing calendar.

Get your materials

The first thing I like to do is get one of those oversized desk calendars and colorful post-it notes. Here are eight aspects that I add to my calendar. It’s essential to use post-it notes and pencils because the days and details will shift.

Holidays

As a busy, working mom, I would first like to block off my holidays, and potential 3-day weekends so I don’t commit myself to work on those days. This way, I protect my schedule to focus on my family.

I also like to take my kids’ school calendars and block off parent-teacher conferences, half-days, and school-wide events.

Speaking engagements

How many speaking engagements do you do? Speaking engagement is a great way to reach plenty of potential customers in one space and time. I strive to do at least one per month, although I plan on working up to four. I’ll also put the date I need to submit my proposal as a reminder.

Launch Dates for your signature offer

When will you be launching your signature offer? If it’s a group program, when does the cart close? When is the start date? Block those off.

And don’t forget to count down the days so you can send reminders to people who haven’t signed up yet!

Networking Group Meetings

I am a member of two networking groups. I make sure to put the dates of our monthly meetings on my calendar and the deadlines for any programs or events that we’re planning.

Content Marketing

Blog Post publishing dates

I try to publish one new blog post per week. I’ll write the title of the blog post and the target date for publishing on my calendar. This way, I can ensure that I’m always ahead of schedule.

Email newsletter release dates

Email marketing is a great way to reach potential customers consistently. I like to release my email newsletter on the first Monday of every month. I’ll write an “email newsletter” on my calendar as a reminder to start working on it a few weeks in advance.

Social media content

I also use my marketing calendar to plan out my social media content. I’ll jot down ideas for blog posts, graphics, and other content that I can share on social media. This helps me make sure that I always share fresh, new content with my audience.

Retreat Day

Retreat Day is the perfect time to step back and analyze your business. If you can prioritize one day per quarter, this is great! Make sure your financials are up to date so you can analyze your quarter’s Profit and Loss statement and KPIs. Ensure that you’re selling products that pull in profit and not just cash.

Consider your marketing efforts. What worked well, what didn’t, and how can you do better?

Are you fulfilling your wants and needs in the big picture, or are you self-sacrificing?

Add to your continuous improvement plan. You will likely find news-worthy PR content or blog ideas when you reflect on your growth for the most recent quarter. Take this time to readjust your post-it notes for the next quarter.

Batch Days

Batch days are days where I specifically hold for more significant projects. Here are some examples.

Market research

One of the most important things an entrepreneur can regularly revisit their market research. This allows you to keep track of any changes in your industry, your target market, and the needs and wants of your customers. It also helps you to identify new growth opportunities.

Content marketing planning

Content marketing planning is creating a content strategy for your business. This involves deciding which types of content you will make when you complete it and how you distribute it.

Search engine optimization

Search engine optimization (SEO) is the process of optimizing a website for Google and other search engines. SEO helps a website rank higher in search engine results pages, resulting in more visitors. I use Jasper.AI, Surfer SEO, and Yoast.

Submit to search engines

Using Google Search Console can help you submit your website to search engines. You can use Google Search Console to verify your website, add Sitemaps, etc.

Digital signatures

Most people don’t change their digital signatures frequently enough. You should change your digital signature at least every 1-2 months. I like to link to my latest promotions or blog articles in my digital signature.

Boss Friday

Boss Friday is the Friday of the first whole week in a month. For example, if August 6th is on Thursday, Boss Friday.

Boss Friday is the perfect time to analyze your Profit and Loss Sheet. When you look at your money consistently, you also strengthen your mindset and brainstorm great financial facts. If you need help with this, no worries. Work with a small business financial coach (Janet Johnson) to help you understand your business’s money story.

Most Importantly, Padding

Ensure to block off client days, free consultations, back-office work, continual learning, and mental health days. I also like to schedule time for me to think. This is when some of my best ideas come!

Marketing Calendar Strategy

Pre and Post Launches

The weeks before an event is considered the prelaunch, and the weeks following an event are the post-launch. Make sure to build this into your schedule. I know it’s a lot to do, but once you’ve mapped out your goals for pre and post-launch, you can delegate blog posting, Facebook ads, and social media posts to an assistant. Or, you can pre-schedule them on a social media content managing platform like HootSuite.

Prelaunch Activities

About four weeks before your event, do a pre-pre launch where you tell your people that you’re planning to do a special event in a month. Survey them and ask, “If you could ask me anything about XYZ, what would you want to know?”

Use this data to customize your event to their needs.

Next is the time to start building hype for your upcoming event. You can create a landing page, run social media ads, and send email blasts to your list. It would help if you also started reaching out to potential affiliates and influencers who can help promote your event. The more people you have talking about your event, the more successful it will be.

Open Cart

Open cart runs for about one to seven days, and then it closes. A closed cart means that people can no longer use your special offer. Don’t just open your cart and hope your attendees buy! Nurture them through the process.

Close Cart – Post Launch

This is the time to follow up with everyone who attended your event. You can do this by sending out surveys, emailing attendees, and writing blog posts about the event. It would be best if you also took this time to reflect on what went well and what didn’t go well. This will help you make changes for future events.

Marketing Calendar Conclusion

Creating a marketing calendar for your business can seem like an overwhelming task. However, this article has provided you with the tools to create and manage one so that you don’t have to worry about forgetting your goals or important dates. This is the best way to stay on track when using marketing to increase sales.

When it comes time for Boss Friday (the first whole week of every month), you’ll be able to look at all of those notes from earlier in the quarter and use them to adjust your strategy accordingly. This is what I do with my clients. Curious? Please reach out and apply for a free consultation. I’d love to see how I can help you plan out and implement a marketing calendar to help grow your business.

%d bloggers like this: