Small Business Strategies: The Bottom Line for Small Business Owners Every Day | Joy of Marketing

Small Business Strategies: The Bottom Line for Small Business Owners Every Day

Photo from Flickr courtesy of Blantantnews.com

As a small business owner there are a lot of small business strategies vying for your attention. Does this sound familiar? You read a blog or join a group or forum and see something someone recommends you SHOULD be doing in your business to be successful. Your mind starts racing. Suddenly there are 100 thoughts of what to do to make your business grow. You don’t know where to begin.

Take a deep breath and remember this. Simply put, being in business for yourself is about bringing in enough money to pay your expenses. It’s about managing your cash flow so that you have the revenue you need to stay in business. So really, the only question you need to ask yourself each day is what am I going to do today, tomorrow and this month to generate enough revenue to pay my expenses?

Do you need 5 sales online today to pay this week’s expenses? Or maybe you need 10 sales?

Do you need 3 of the 12 clients that come in the door today to purchase something? What should their average purchase be?

Do you need to call 5 clients today and schedule 2 of them for an appointment this week to pay your expenses?

If you up-sell 4 existing clients this week on something new that costs you just $5 but brings in an additional $250 in revenue, will that cover your expenses for today?

If you raise your prices 10% what impact will that have on your cash flow?

Every single day ask yourself, “What am I going to do today to bring cash into my business to cover my expenses?” It has to be more than just showing up.

Before you get distracted with new ideas, remember to answer this big question each day. Then go do it!

 

Working photographer, coach, mama, and wife. Whether you’re looking to take your photography business full-time or simply make good money on a very part-time basis so you can contribute to your family financially and be your best self, we’ve got something for you.

I’m Sarah Petty

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