Business Plan for Small Business Owners: Mindset for Budget

Hello again! Great to see you back!

I am so proud of you for moving forward with your one page business plan.

By now, you should have four things on your plan:

Your vision

Your Mission

Your Goals

Your strategies and action plan.

 

Now we come to a very important part, that makes many of my business coaching clients cringe:

Your budget.

Your budget is extremely important, as it will determine if your business is successful.

Please don’t make the mistake that many transformational entrepreneurs make and say to yourself that you don’t need much.

  

Would you give me permission, for a moment, to give you an unfiltered “rant”?

 

Thank you. Here we go:

 

It is important to be honest about the money you absolutely need.

The money you would like to have

And the money that would be luxury, but really nice to have as it would move you forward.

If you don’t know how much you are spending, and how much you need to keep your business open, 

 

I had clients who gave me a budget that was so low that it was below the poverty line.

Really??I

I mean: REALLY???

Is that how you want to live your life?

Is this the reason you want to invest all this time to build a transformational, authentic business?

To live below the poverty line?

 

I honor you for your wonderful intentions and your ability to live with not much at all, but as your business coach I must tell you that this is not enough.

 

Building a business is not about just scraping by.

It is about doing well.

It is about creating a future for yourself, and those that you care about.

 

Think about it this way: Your business is supposed to help others.

If you can’t guarantee that you have budgeted for the money you need, you will run the risk of having to shut down.

What about your clients?

What about those who count on you?

Will you tell them that you just didn’t want to make enough money to keep going?

 

I know that many of my clients struggle with asking for what they are worth.

We have to tap with EFT a lot on deservingness, overwhelm, shame and guilt.

 

That’s OK – don’t blame yourself for feeling this way.

Many people, especially transformational entrepreneurs, healers and coaches, struggle with that.

But it is so important that you release these feelings and replace them with good self esteem.

You can do very well helping others, touching many lives, being truthful t yourself and others.

The money you make can even create jobs as you outsource what you can’t or don’t want to do yourself.

 

It will give you the freedom to be spontaneous, to treat your family to some wonderful things.

After all: They are in the same boat with you, supporting and carrying you all the way.

They deserve to benefit, and so do you!

 

So if you feel that you truly don’t need much to get by, please think again:

How much do you need, just to keep your business going?

Rent

Utilities

Your Coach

Phone

Internet

Cell phone

Supplies

Marketing materials

Computer and Software

Cell Phone

Business trips

Memberships

Continued Education

Professional Connections

Networking

Blog

Autoresponder

Postage

Gas for your car

 

We have only just begun.

How about books, programs, professional clothes?

 

What else do you need (this is very different, depending on what you do)

 

Now look at your private life

 

Please don’t tell yourself that you can always buy things second hand, and that you don’t need to go out for dinner.

Of course that’s possible.

But you can ask for more.

You don’t have to play small.

Do you want to visit your kids or grandkids more often?

Do you want to travel?

How about some theater tickets?

This is not luxury. You need to be able to relax and take a breath.

You need to have what you need to be happy.

 

If you make so little that you can’t even visit your kids in another state, then your life becomes tough.

Wouldn’t you agree?

 

Now, this rant is of course not meant for all transformational entrepreneurs.

So if you don’t find yourself in it, that’s OK.

But maybe you found some inspirational moments in this as well.

 

Please make sure that you are realistic about how much you need, and then add 20%

 

You need to have extra. For unforeseen items, to fix certain things.

Your taxes (have you calculated those in?)

 

Some people find this process of writing down EVERY aspect of their life that they pay for.

It feels good to realize that asking to get paid is not a luxury, and not unspiritual.

Instead it is a responsible and mature way to take charge of your life and make a difference in a powerful way.

 

You can do it, too!

 

Thank you for let ting me share this and for having an open mind.

I respect you for this and for your courage to do the right thing for yourself and others!

 

Much Love

Ingrid