3 Critical Things You Should be Doing as a Business Owner

by | Apr 7, 2021

3 Critical Things You Should be Doing as a Business Owner

 

 

Here are some examples for each of those 3 critical things you should be doing as a business owner to achieve success.

1.Master your finances (Wellness Coach Example)

I had a client who was ignoring her finances when we met. She wasn’t confident with her numbers. Didn’t like what she saw when she did dive into her bank account and was stuck on a low-income level (under 5k per month).

When we met she wanted to turn it all around, we created a financial plan, she got set up with the right systems and processes and we met regularly to review her performance.

Since then she’s hit her first 6 figure month and we have projections to reach £1m in sales in the next 3 years.

You need to lean into your numbers to form a relationship with them. If you end up loving your numbers, they will love you in return.

2. Minimising taxes (Lead Generation Coach)

The wealthy coach recognises that taxes should be actively minimised to increase cash flow and reward for all your hard work.

By following our 7 step tax planning process, a recent client win was a tax reduction of £5k per annum by shifting their company structure, another £4k by converting their self-employment status to a Limited Company and they won’t pay any taxes at all for 21 months.

Even getting a refund of income tax from HMRC!!! This all comes at a time when they are launching an online course, so by freeing up over £20k of cash means they have funding for their ad funnel without going into debt!

3. One-page business plan (Business Coach!)

I recently asked a prospective client what structure he had for his business, how did he plan out his priorities, allocate his own time and the team’s and how he measures success.

His answer was that he just does what feels right on any given day.

Well, that will only get you so far, which was why that coach had never broken past the £100k sales mark.

Go from spinning 10-15 plates a time to making MASSIVE progress in 3 key areas each quarter with a one page biz plan!

This client signed up and I’m looking forward to measuring his results over the next few quarters.

 

If you have a coaching or consulting business and you want to improve your financial intelligence you may book your free strategy session here. 

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