Do you have a profit plan?
Your response may be …
“That feels a little too scary”
“What the Margery duck is a profit plan”
“Profit – I wish!”
I get it. I totally do. It can be ikky to think of the numbers in your business and it can make you feel uneasy when you look at the profits you are making (or not making) in your business.
But here is some tough love.
You NEED to know this stuff IF you want to be a successful business. If you are not making as much money as you would like in your business, then having a profit plan can help you to uncover why you are not and where you can make changes to ensure you do. This is something we cover as the main thread inside of The Curate your Year course (read more here).
A profit plan isn’t as scary as it sounds, not when you look at it in the way that I do. To me, a profit plan is a simple document that sets out the core areas of your business to make sure that everything you do in your business links back to the bottom line.
This shouldn’t make you feel ikky.
At the end of the day, everything you do in your business has to link to you making money. To getting a booking. To filling your order calendar.
And that is absolutely fine. It is needed. To be a business, you need to make money and there should be no shame about that.Everything needs to have a purpose, a reason, a why. Click To Tweet
What should your profit plan include?
- Your business goal. This ideally would be financial, but it can be project related if that sits better with you.
- Your product suite. What products are you going to sell to meet your business goal?
- Your projects. What projects do you need to do (in order of priority) to sell those products to meet your business goal?
- Your content strategy. What content are you going to write about in your business to build the know, like and trust factor with your customers to drive them to look at your products so they can buy and so you can meet your business goal?
- Your weekly schedule. When are you going to make time to make this happen taking into account your own circumstances? Your projects need to happen to meet your business goal and you need to make time to make these projects happen.
- Your words of motivation. What words are going to keep you motivated when you need that little lift (which we all need at times!)?
- Your word of the year. To keep you focussed on your purpose and centred to what you want to achieve for you.
So, a profit plan isn’t ALL about the numbers. It is about making sure you have the things in place SO that you can make the money you want in the easiest and best way possible.
If you feel that having a profit plan sounds amazing BUT you don’t have a clue where to start to pull all of the things above together, come and join me and the other students inside of the Curate your Year online course (read more here) because this is exactly what we cover and after taking the course (which is super simple, straight forward and easy) you will have YOUR very own profit plan that is relevant to YOU, in YOUR business for where YOU are right now.
Profit is not a dirty word. It is a necessity. And you can make this work, you can do this, you just need the plan to make it happen.