This morning I had the pleasure of interviewing Debbie LaChusa, a.k.a. The Business Stylist. Debbie helps people match their business model to their “Unique Business Style” to really increase their business success. Debbie shared some great tips, including how to tell if your business model will actually succeed in achieving your financial goals.
This is a simple exercise you can do but also very powerful. This is something I have done in my own business and can vouch for how focused it helps you be.
Ready?
The first step is to write down 2 things:
1. Your income goals per year (and break it down then to month and week)
2. Your lifestyle goal (work from home, network, have an office, work one-on-one for eg?)
Now for the 2nd step:
List your sources of income. For example, do you sell memberships at $40 per month or work with clients at $200 per hour, sell e-books for $20 each, exchange service for money at $40 per hour.
The final step:
Now work out how many of your product or service you need to sell per week or month to achieve your income goals.
Reality Check
Now it’s time to assess if this is possible.
Here’s an example:
If you have a goal to earn $300,000 per year and your only product is a membership site earning $50 per month, you will need to sell at least 500 memberships. Now take into account costs, taxes etc you’re probably looking closer to 800 members every month. Can you do this?
If you have no list of customers yet can you sell (and retain) 800 memberships or will you need to supplement your income with other products and services first?
Can you see how powerful this is?
Assess Where Your Business is Now
Debbie has a great free tool you can use to assess how well your business suits your goals. It only takes a few minutes to do and is quite insightful.
You can do it here. I’d love you to come back and share what your results are and what insights it gives you.
To get the ball rolling, I’ll share with my results with you.
I scored a 79% for how well my business suited me. The feedback I got was there are only a few tweaks / changes I should make to get it over the magical 81% which means it fits me like a glove. Interestingly, I’ve been identifying areas of growth in my business the last month and have already started to make changes to move me close to my goals.
How about you? Can you see a need for a total makeover or changes in how your business meets your lifestyle as well as financial goals?
Debbie has also made a very generous offer for my community (that includes you). After you have done the free Online Business Assessment you can apply to have a strategy session with Debbie. She only allocates a few per month so hope you get in.
And if you’d like to listen to the interview, it is available for 72 hours, when you register for free here. (gold members of Wonderful Web Women have lifetime access).
Looking forward to hearing from you.
