A Money Leak Is An Opportunity For A Money Breakthrough
Cash flow is a topic that is forever near and dear to my heart. Ever since I made the decision to get my own cash flow under control, I’ve been dying to share what I’ve learned about creating and managing cash with you. This fall, I’ll be doing just that… so in the coming weeks you’ll hear me share a lot of tips in this newsletter, on Twitter and beyond.
When cash-strapped entrepreneurs think about increasing their cash flow, they’re usually fixated on ONE thing: getting clients. Thing is, because they’re so completely focused on a lack of clients and fixing that problem, they completely miss the OTHER things that are affecting their cash flow in a negative way. These issues are just as important, if not more important, than finding new clients or other solutions to bring in cash quickly.
For example, take a look at this list of common small business money leaks…
Clients who owe you money
Vendors or other people you owe money to
Unpaid or unfiled taxes
Unpaid or unopened bills
Expenses increase just as steadily as income goes up
Not paying yourself regularly
(These are just a few – I could list many more.)
Now if you have any of these issues in your life, this is NOT an excuse to beat yourself up! It is, however, an opportunity to heal your relationship with money and bring more of it into your life. Because every single one of the money leaks that are draining cash out of your business (just as quickly as it comes in) is an opportunity to make a new choice, to create a new habit that serves you instead of drains you.
Every money leak is a little window into your money identity, beliefs, and feelings. All you have to do is ask yourself, without judgment, “What’s going on here? What’s this really about?” Then the healing can begin, and as it does, more space opens for m0ney to come in.
Creating more prosperity and abundance in your life isn’t always about getting more clients, selling more products, making more m0-ney… though it does include those things, of course. Just as important is gently peering beneath the surface, where the fear, guilt and shame hangs out… and releasing it all.
This week, I invite you to consider 1 m0ney leak in your business and get it cleaned up – no judgment allowed! Have a wonderful week & bright blessings to you…
3 Simple Steps To Build A Loyal Tribe That Sticks To You Like Glue
A lot of spirit-rich entrepreneurs see that I’ve been growing my business very quickly over the past year. And they want to know, “Elizabeth, how are you building your tribe?”
All of my tribe-building gets down to 3 simple steps. Unless you’re completely new to marketing your business online (in which case, welcome!), these steps will be familiar. The question is, are you doing them? If not, it’s time to give your tribe-building efforts a gentle kick in the pants!
Step One: Collect names and emails (a.k.a. “the opt-in”) religiously.
To create and build a relationship with your tribe, you must have a means of communicating with them. The simplest and most cost-effective means of communicating directly with your tribe is still email. Create something of value that your peeps really want, such as a report or audio on a juicy topic. Then give it away in exchange for the names and emails of those who raise their hands and say, “Hey, I want that!”
OK, so I know you might be asking, “Why do I need to still collect names and emails when I have Twitter and Facebook?” The reason is simple. Servers go down, Terms Of Service change, and social networking sites fall in and out of vogue almost as quickly as the seasons change. And the truth is, Twitter and Facebook can shut down your account anytime they want. It’s a lot easier to serve your tribe when you have more control over the conversation.
Collecting names for later follow up should always be one of your first priorities, in ALL of your marketing. Adding opt-in boxes to your website is a great place to start, but don’t stop there. If you’ve taken a look at the registration page for my “How To Charge What You’re Worth And Get ItTM” workshop, you’ll notice that I have a fr’ee giveaway there.
You can add your free newsletter giveaway to your Facebook pages quickly and easily (ask a techie for help if you need it). Don’t forget networking events (always ASK before adding someone to your list), speaking engagements and investing in a vendor table at industry events (a great and overlooked way to build your tribe).
Step 2: Follow up CONSISTENTLY.
This is where soooo many entrepreneurs drop the ball! They go to great lengths to get names and emails and then… communicate with their folks once a month, if that. Not good! When it comes to your newsletter, a bi-weekly schedule is the bare minimum.
“But Elizabeth! Sending out a newsletter is so much work!” Believe me, I get that. If you’re struggling with your newsletter, it’s time to design a SYSTEM to get it done quickly and easily. (It’s that important. No excuses!)
Encourage your readers to pass it on to their friends and include a link to your sign-up in EVERY issue. When you provide exceptional content (see below) your tribe will talk about you to their friends. You want to make it very easy for them to get in on getting more of the good stuff – you!
Step 3: Provide Exceptional Content (And Lots Of It)
Fresh, engaging content is the backbone of building and creating a deep, lasting bond with your tribe. Fr’ee reports and article marketing are still the workhorses of content and are very relevant in this age of short attention spans and social networking.
I have a very authentic written voice (yes, I really do sound like this when I talk), a conversational style and I love writing, so articles are my thing. If writing isn’t your thing, don’t despair! The possibilities for content are endless. Here are just a few:
- Audios. Audio Acrobat is my absolute favorite of all the products I use to support my business, hands down. No fancy editing software needed – simply plug in your microphone and record to AA directly, or call their hotline.
- Video. People LOVE videos because they can see you and get a feel for your energy. And they’re easier to create than ever. Most digital cameras have some form of video built in, and to make it super-simple, a small investment in a Flip camera will have you uploading videos to YouTube via the USB port on your computer.
- Free teleseminars. You can use teleseminars to promote a specific product or program, to create visibility, to help people get to know you and (of course!) to grow your tribe. Use Facebook and Twitter to promote them. Create a Facebook event page and Tweet regularly. Ask your Twitter followers to retweet.
- Get interviewed, be interviewed. Interviews with other experts are a great way to position yourself as an expert and grow your tribe quickly. Make sure you make an invitation to your partner’s followers so that you can create a relationship with them via your newsletter.
Your Turn:
My coach’s request to you is simple. There is undoubtedly at least one tip or strategy here that you haven’t yet tried. Pick one that resonates with you and implement it in the next 7 days. (Yes, this coming week!)
Want more ideas for creating compelling content and building your tribe? I’ve got lots more to share with you in The Abundant Business Homestudy System, including a whole list of topics for your articles, video tips and more. Get your copy here.
© 2009 Elizabeth Genco Purvis. All Rights Reserved.
Want to use this article on your website, blog or in your own ezine? No problem! But here’s what you MUST include:
Elizabeth Genco Purvis, “The Marketing Goddess” teaches spirited solo business owners and conscious entrepreneurs how to attract an abundance of clients, income, freedom and satisfaction in their business while staying true to their values. Visit MarketingGoddess.com to claim your copy of “Grow Your Business With Spirit And Soul,” a 7-part audio workshop with everything you need to begin attracting more clients right away.
The Choice To Create Joy In The Present Moment, No Matter What
Labor Day weekend marks the official end of summer for most of us here in the United States. It’s the time for one last cookout, picnic, or trip to the beach before school starts and the fall business cycle. This weekend, Leland and I celebrated by attending a cookout hosted by a good friend from my J-O-B days, Nicholas.
Back then, Nicholas was my direct supervisor as well as a friend. (Yes, a perilous combination at times, but we made it work for over 4 years!) As a technical director working for a small technology start-up, Nick always had his hands full, either putting out the latest fires or, like most wickedly smart and creative people in tech, looking to make his mark in his chosen field.
Over a wonderful day of great food, conversation, and children laughing (Nick has 4), I couldn’t help but notice the change in my friend. Instead pushing, striving and focusing on the next “big thing” in his career, Nicholas had clearly created space in his life to enjoy what makes him happiest: his amazing wife and family.
As entrepreneurs, we’re usually focused on one of two things: fighting fires (including “where is my next client coming from?”) or the future. All this striving and straining often puts us in the mode of waiting – “When I do X / achieve Y / have Z, I’ll…” Spending time with Nicholas and his family reminded me of how important it is to embrace what we have right now, in the present, in this moment.
Stepping out of “waiting mode” to enjoy the present is a conscious choice, one that we must make daily. We also make this choice by setting up our lives and businesses to give us time and freedom. You can choose to experience joy in the present moment, every single day. This week and every week, I invite you to do just that.
To Ensure Your Cash Flow (And Stay Out Of Overwhelm), Create A Business Calendar
One of the traits of highly successful entrepreneurs is the ability to be flexible. However, most small business owners find themselves taking “flexibility” to the extreme, flying by the seat of their pants most, if not all of the time!
Years ago I deliberately adopted a motto from Joe Vitale in The Secret: “Money likes speed.” I pride myself on going from “Oh, that’s a great idea” to implementation as quickly as possible. Trouble is, there comes a point where conducting business on the fly leads to a lack of clarity, up and down cash flow, a never-ending haze of “busy”-ness and (ugh!) overwhelm – all symptoms of hiding out.
If you’re constantly “doing” in your business and never seem to get ahead, creating a business calendar is an empowering tool to gently help you break the busy cycle that keeps you playing small. And there’s no better time to create one (or tweak yours if you have one already) than after a holiday break, when it’s time to get back to business!
Before I share some tips with you, a quick definition and a bit of semantics: I have often referred to marketing calendars (such as in The Abundant Business Homestudy System). A business calendar accounts for all programs, workshops, teleseminars and information products you will offer your clients. This calendar lays out your regular “keep the pipeline full” marketing AND marketing for all of your income streams.
(Yep, the name “business calendar” is somewhat arbitrary – I like it because it feels more holistic to me. You may call your calendar whatever you wish, of course!)
To get the full benefits of creating a business calendar, I recommend you plan for at least a 6-month period – remember, this is about getting OUT of “fly by the seat of your pants” mode! If you’re new to planning in your business, working with the next 4 months (i.e., through 2009) is a perfect way to get your feet wet. (For the tips below, I’m assuming a calendar of 6 months.)
1. Begin with the end in mind. One of the most important steps to playing bigger in your business is looking beyond the pressure of “I don’t know where my next client is coming from!” – even when you don’t know where your next client is coming from. What do you want to celebrate 6 months from now? 12 months from now? 3 years from now? Let your bigger picture goals guide your short-term choices.
2. Choose your income streams. What are your income goals for the next 6 months? It’s time to select the income streams that will get you there, including investment and number of clients you wish to enroll for each. Getting clear on those numbers will help you to know if your goals are realistic, a stretch, or not stretching enough.
Instead of offering a zillion things, select just a few income streams to focus on and create a simple plan for enrolling for each. Be sure to put that marketing on your calendar! This one practice alone will support you greatly in stabilizing your cash flow.
3. Keep it simple. Your first idea is probably NOT the simplest idea! Overthinking and over-complicating is the inner critic at work, keeping you stuck and safe. Go back to your goals. A powerful question to ask is, “How can I create this in the simplest, easiest way possible?”
4. Leave plenty of space. Things always come up, it’s the nature of being an entrepreneur. If you think it will take 2 weeks to launch a program, give yourself 3. And don’t be afraid to let something go to find the simple solution.
5. Make sure to include your regular marketing! Remember, you must continuously market your business to keep your pipeline full, so be sure to include your networking, articles, social media marketing, and other “business as usual” marketing efforts. (To stay out of overwhelm, I recommend using my “Rule of 3″ – select 3 marketing methods and do them consistently.)
6. Make sure to include your regular follow-up, such as a newsletter. One of the things I’m very excited about for the fall is my brand new ‘Clients Only’ in-the-mail newsletter. (Curious? If you’re a client, either past or present, or have purchased a product or class, you’ll be on the list to receive it.)
7. Sleep on it. Once you’ve created your calendar, let it “rest” for a few days. Then take a second look. Is your plan realistic? Doable? Simple? Tweak and adjust.
8. Pencil it in. And I do mean in pencil, be it electronic or the real thing! (I happen to be an all-pens, all-the-time kind of gal – except when it comes to my business calendar. Then I find myself asking my artist hubby for a pencil and a “good” eraser that doesn’t chew up the paper.)
Again, things are bound to come up. Your business calendar will guide you to your business goals while retaining entrepreneurial flexibility – both lead to success!
Your Turn:
Create your business calendar for at least the next 6 months (through the rest of 2009 and into 2010), or revisit the calendar you already have. If you like to use pencil & paper like I do, you might find these fr’ee calendar templates for Windows helpful. Be sure to be very mindful in your selection of 1ncome streams – selecting the right streams and having a plan to implement them will solidify your cash flow.
Remember that your calendar doesn’t have to be perfect! By planning with the big picture in mind, you’ll consciously create your future and break the feast-or-famine cycle.
Need help figuring out which in’come streams will help you reach your goals and which will keep you stuck? Join me for a virtual VIP coaching day to create your Profit PyramidTM. You’ll get a fool-proof business blueprint with leveraged, lucrative income streams that keep the mo-ney rolling in like clockwork… all from a single program or product. You’ll also learn to package how you work into your very own signature system to give you instant credibility, attract high-paying clients and endless opportunities for additional in-come – without working all the time or burning out. Send me an email at teamgoddess@marketinggoddess.com to see if this VIP coaching experience is right for you.
© 2009 Elizabeth Genco Purvis. All Rights Reserved.
Want to use this article on your website, blog or in your own ezine? No problem! But here’s what you MUST include:
Elizabeth Genco Purvis, “The Marketing Goddess” teaches spirited solo business owners and conscious entrepreneurs how to attract an abundance of clients, income, freedom and satisfaction in their business while staying true to their values. Visit MarketingGoddess.com to claim your copy of “Grow Your Business With Spirit And Soul,” a 7-part audio workshop with everything you need to begin attracting more clients right away.
To Grow Your Business, You Must Grow Yourself
There’s a saying that I’ve often heard in entrepreneurial circles that goes something like this: “Your business is the best personal development course you’ll ever take.” I am reminded of this truth every single day.
Our business is simply a container for our own rich spirits, talents, gifts and energy. As such, they can only get as big as we are, no more and no less. If you want to grow your business, all the marketing systems, secrets and strategies in the world won’t help you unless you first grow yourself.
Here are some areas of growth that you’ll want to pay attention to…
1. Your thoughts. Your thoughts determine your reality. What are the thoughts that habitually run through your mind? Are you even aware of them?
Recently, one of my high-level coaches gave me this assignment: to stop periodically throughout the day and ask myself, “What am I really thinking about? Really? In this moment? Right now?” I think this might be the best coach’s request anyone has ever given me. Now I’m giving it to you. Take notes for a couple of days. Notice the patterns. I promise this exercise will lead to a breakthrough.
2. Your habits. Thoughts become actions, which often crystallize into the form of habit. Do your habits serve you?
Creating habits that work can be very challenging – straight up, I’m not very good at it. (Or rather I should say that I’m still working on it, and probably will be for a while!) Your future, however, will be determined by the choices you make in every moment, most of which happen on autopilot thanks to habit. Your future is well worth the time and attention of creating strong habits.
3. Your money. If your business is the best personal development course you’ll ever take, your money might just be second-best! Your money situation is simply a reflection of what’s going on inside of you. The things that keep a struggling entrepreneur stuck are the exact same things that keep a multi-millionaire stuck. “Stuck is stuck!” as one of my mentors likes to say. Everyone bumps up against “their stuff” at some point. The successful learn how to break through those stuck points and keep going.
4. Your ability to make decisions. What’s the one difference between boldly moving forward in your business and staying frustrated, struggling and spinning your wheels? Decisions. How good are you at making decisions? Do you make decisions quickly – sometimes without knowing everything first? Or do you stay stuck in fear of making the wrong decision? A strong decision-making muscle will create miracles in your business. A refusal to make decisions, whether conscious or not, will sink your business.
(I discovered a great quote from Louise Hay by way of one of my Platinum clients. “If you make the wrong decision, what’s the big deal? Just make another decision.” I love this! Is it any wonder that she runs one of the biggest mind-body-spirit empires in the world?)
Almost 2 years ago, my husband had a health scare that required an emergency trip to the hospital. (It happened on a night of a networking event that I could have skipped, by the by.) While sitting in the room with him, scared out of my wits, I made a decision: I am figuring out how to make this business thing work, no matter what.
My income in 2009 is already nearly 7 times what I made that year. The biggest shift in me has been on the inside, not the outside. Growing in these 4 areas can be painful (talk about stepping outside of the comfort zone!), but it’s a very small price to pay for the joy, freedom and abundance on the other side.
I invite you to pick one of those areas above and decide which new, empowering choice you’d like to make. As always, bright blessings & massive success to you…!
Elizabeth Purvis, a.k.a. “The Marketing Goddess” mentors extraordinary spiritual women entrepreneurs to 6-figures and beyond.
