Planning for Profits
62 days left in 2016. Seems surreal. Something about the last quarter of the year gives me a boost of creative energy.
Pumpkin spice may have something to do with it too...maybe a little.
I typically plan for the next quarter, a quarter ahead.
Quarter 1 is planned in Q4
Quarter 2 is planned in Q1
Quarter 3 is planned in Q2
Quarter 4 is planned in Q3
Quarter 1: January, February, March
Quarter 2: April, May, June
Quarter 3: July, August, September
Quarter 4: October, November, December
Yet when a new year approaches, I bring out the big guns, and I go ALL in.
I summarize what I'll do the next year in FULL. Seems a bit narotic and full on type A, no worries I’m far from type A (no offense A).
Planning for profits takes a bit of precision.
You want to think about any important dates that pop up:
weddings, school breaks for the babes, vacations, holidays, conferences/speaking engagements and out of town trips. Anything that will keep you from giving 200% to your biz and profit goals that week or month.
Grab your new Erin Condren monthly planner to start planning for profits. On the year at a glance page, you will add a sticky flag to the months in which you have important dates. This helps you to decipher when are the best times to create, launch and promote.
In the Biz Bestie Breakthrough Program, a big part of what we do is planning for profits.
Questions to ask yourself:
What's my money goal for next year?
How much money do I want to bring home AFTER everything is paid for?
Example of planning for profits:
I have a client Justice who runs a consulting firm, true #girlboss. Her monthly biz expenses are $3200, not including estimated taxes or her salary. Basic math lesson, Justice needs to make over $3200 per month in order to consider it a profit.
[MAJOR KEY: You want to determine if you want to include your salary in your expenses or not.]
Justice’s money goal for 2017 is $250K.
Below is a breakdown of what Justice needs to make monthly to profit within her money goal.
Justice and I mapped out a plan to ensure she would make $22,842 a month. That plan includes leeway for the months that she will be traveling leisurely and months where she knows she will need a breather.
Her programs and products are inserted in months where she will have time beforehand to market and promote full force. Then when she is away or full in consulting with clients, she is still making the daily amount of $751. This isn’t static, because she may want to add in another product or course, and she can. This can increase her profits.
While planning for profits, knowing what you want will push you to find a way to MAKE it happen. There are no excuses. Writing it all out, forces you to see the errors and holes in the plan.
Check out the new Erin Condren monthly planner and deluxe monthly planner's to start planning for profits and keeping up with your monthly business goals.
XO.
Kimber
