Show Me The Money

Can you show me the money?

This is a favorite question I like to ask women business owners about their business. However, most of them can’t tell me that their revenue model or financial forecast is.

I know that many women like to think that they are in business to save mankind. Some may feel as if they are in it to spread their good knowledge and humanitarianism, but why would anybody start their own business if they didn’t want to make money? These same people are also the ones not forming nonprofit organizations and always complaining about debt and bills.

While it’s great to have a laundry list of “other” reasons as to why you’ve decided to start your own business, what good does that do if you’re struggling financially? What are the chances your business will survive long if you aren’t making money?

So lets take this time to talk a little about money.

Your revenue model explains exactly “how” you make money. How much you will charge for a product or for a service and how much it costs you to product the product or service.

Your financial forecast is next and this is where the fun part comes in. You get to decide how much money you’re going to make! Predict what you would like your sales to be for the next month, then put a marketing plan into effect making your sales goals a reality.

That’s all there is to it! It’s a very simplified version, but women just starting their own businesses can learn a great deal just by making a few financial strategic plans, which simplify your finances in a nutshell and make it so you have an idea of where you will be financially in just a few, short months.

Grab your calculators, ladies, and get to work. Figure out your revenue model and then your financial forecast. In very little time you just may see those numbers hit six figures!