Craft Your Best Year Yet - Design your Business - Day 3

Today is my favourite day!

Why? Because today - we are breaking down the core elements of your business design plan to ensure that it's 100% aligned with your vision for 2024.

Why business by design?

When you design your business, you're consciously CHOOSING how your business takes shape. You're choosing your dream clients (instead of just working with anyone who will pay you). You're crafting offerings to meet their needs so people actually want to buy them.

And you're proactively implementing a sales and marketing plan to help you bring in consistent clients and cash flow (instead of realizing in a panic that you need more revenue and start throwing all the offers possible at your audience).

Without a business design plan, you likely feel like you're constantly putting out fires and hustling to keep revenue coming in the door.

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Now that you have true clarity about the LIFE you want to live as an entrepreneur, we can roll up our sleeves to design a business that supports your desired lifestyle.

This approach - lifestyle design before business design - might seem counterintuitive…but too often I’ve seen entrepreneurs who crash and burn within a few short years because they bought into the myth that ‘someday’ their business will get easier.

It simply doesn’t work that way. You have to design your business for profitability AND sustainability if you plan to continue this journey for the next 5 - 10 - 20 years!

So let’s review your Business Design so you can get clarity on that intersection between ambition and ease for 2024.

PART 1:: YOUR DEFINITION OF SUCCESS

It’s easy enough to set arbitrary goals that sound good until you realize that goal is completely out of alignment with what actually matters most, to you.

Let’s make sure we get aligned! Answer the following questions:

1:: WHAT DOES SUCCESS LOOK LIKE IN YOUR LIFE FOR 2024?

Consider all the areas of your life - your day-to-day lifestyle, your health, your relationships, and your hobbies -everything outside of your business.

2:: WHAT DOES SUCCESS LOOK LIKE IN YOUR BUSINESS FOR 2024?

Consider all the areas of your business - your clients, your offerings, your team, your profit and revenue, your creative work, etc.

Get The Business Success Roadmap Digital Resource here

The Business Success Plan is a highly beneficial tool designed for small business owners and entrepreneurs. It provides clear direction for daily decision-making, increasing clarity in important business decisions, and offering structure by defining management objectives. This plan serves as a reference tool, ensuring alignment with sales targets and operational milestones, and proves effective when consulted regularly to measure and manage priority areas of focus.

PART 2:: YOUR DREAM CLIENT

Nothing can make your dream business feel like a nightmare faster than clients who are the wrong fit and don’t appreciate what you have to offer. Let’s get clarity on who you want to serve in 2024!

1:: DREAM CLIENT!

Fill in the blank::

I {DO THIS} for {THIS TYPE OF CLIENT} so that she can {SEE THIS RESULT OR BENEFIT}.

2:: WHAT ARE THE TOP 10 ATTRIBUTES OF YOUR ABSOLUTE FAVORITE CLIENTS?

Example:: I only work with clients who are coachable and are open to direct feedback. I only work with clients who are willing to take imperfect action.

PART 3 :: LETS TALK MONEY, HONEY!

We can’t design our businesses without money clarity. We’ve already determined how much you’d like your take-home income to be (see Day 2) - now we’re gonna reverse engineer how much revenue your business needs to generate to write that paycheck.

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Ask yourself the following:

1:: WHAT IS YOUR CURRENT TAKE-HOME PAY FROM YOUR BUSINESS?

2:: WHAT IS YOUR GOAL TAKE HOME PAY FROM YOUR BUSINESS (IN ONE YEAR)?

3:: WHAT IS THE GAP BETWEEN YOUR INCOME NOW AND YOUR INCOME GOAL?

4:: WHAT IS YOUR ANNUAL REVENUE RIGHT NOW (FOR 2023)?

5:: WHAT IS YOUR GOAL REVENUE (FOR 2024)?

6:: WHAT IS THE GAP BETWEEN YOUR REVENUE NOW AND YOUR REVENUE GOAL?

Here are two revenue resources to assist you further into 2024. You're going to love it:

The Business Revenue Growth Workbook

Your Roadmap from 0 - 6 Figures (Revenue Business Blueprint Workbook)

PART 4:: YOUR PRODUCTS, PROGRAMS, AND SERVICES

Us entrepreneurs LOVE LOVE LOVE to create new things - but sometimes, you’ve gotta prune in order to reach new levels of growth. Now that we have our revenue goal for the year, we can start to reverse engineer what we need to SELL in order to reach that goal.

1:: 2023 PRODUCTS + SERVICES REVIEW

What did you offer to your clients this year? Complete the following (a table would work well for this exercise) to establish your current mix of products, programs, and services:

·         2023 PRODUCTS + SERVICES

·         PRICE

·         # OF SALES

·         REVENUE

2:: WHAT OFFERING GENERATED THE MOST REVENUE?

3:: WHAT GENERATED THE LEAST REVENUE?

4:: WHAT OFFERINGS DO YOU NEED TO PRUNE FROM YOUR BUSINESS?

5:: 2024 PRODUCTS + SERVICES PLAN

Now that you know what offerings worked and what didn’t, plan your offerings for the next year and make sure that your goals align with the amount of revenue you want to bring in.

Use the same categories as above, for ease of reference I will include it below again.

·         2024 Products and services

·         Price

·         Goal Number of sales

·         Revenue

PART 5:: SALES + MARKETING

We’ve done a lot of business designing for 2024! Now let’s get clear on the strategies that work best, for you, to get more clients and grow your business.

1:: WHERE DID YOUR LAST 10 CLIENTS COME FROM?

Often, we are so busy that we don’t check in on the effectiveness of our marketing efforts. Where did your last clients come from? Examples could be referrals, email list, Facebook, etc.

2:: BASED ON THE ABOVE, WHAT IS THE MOST EFFECTIVE MARKETING STRATEGY CURRENTLY IN YOUR BUSINESS?

3:: HOW COULD YOU IMPROVE RESULTS WITH THIS MARKETING STRATEGY IN 2023?

BRAINSTORM 5 WAYS YOU CAN DOUBLE DOWN ON THIS STRATEGY.

For example - if 6 out of 10 of your clients came from referrals, how you can get more referrals? You can ask more often, create a referral rewards program, etc.

4:: NOW CONSIDER - WHAT IS YOUR MOST EFFECTIVE INVITATION STRATEGY? HOW DID YOU ACTUALLY GET THOSE 10 CLIENTS INTO YOUR BUSINESS?

For example - did they hire you after a free consult? Or join your program on a live webinar? How did they convert into paying customers?

That brings us to the end of todays challenge. Please share your key insights and takeways in the comments below.

PS - Every 10 minutes you plan saves an hour in implementation. Even though it takes some time up front, planning saves you so much time and energy when it comes time to get things done. Hang in there - we're half-way through the challenge!

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