Entrepreneurship: Online Business Planning 101 | Dana Malstaff | Skillshare

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Entrepreneurship: Online Business Planning 101

teacher avatar Dana Malstaff, Business & Content Strategist

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

    • 1.

      An Intro to Pump You Up


    • 2.

      Do You Really Need a Business Plan?


    • 3.

      Business Planning Course Project


    • 4.

      Your Path & Skills


    • 5.

      Your Future


    • 6.

      Your Tribe


    • 7.

      Your Value & Finances


    • 8.

      Your Tangibles & Projects


    • 9.

      A Final Note


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About This Class

Start your online business off right. Today there are so many opportunities to start our own businesses online, but you want to make sure you set a solid foundation to ensure success.

Learn how to how to outline the six core pillars of a modern business plan with this popular class from Dana Malstaff, the founder of Boss Mom, who grew her online business to six figures in under a year.

In this 40-minute class, two-time author Dana Malstaff breaks down business planning into easily actionable chunks that you can really sink your teeth into.

You’ll learn how to:

  • hone in on your most marketable gifts
  • break down your future goals
  • outline your finances and chargeable value
  • understand your target market and community
  • begin to outline your revenue streams, programs & projects

From the importance of strategy an planning in your business to how to actually figure out your hourly rate, Dana breaks it all down in a way you’ll never forget.

The class is perfect for anyone who is starting an online business or has a business that needs new life.

Meet Your Teacher

Teacher Profile Image

Dana Malstaff

Business & Content Strategist


Dana is a mother, business & content strategist, coach, speaker, writer, podcaster, brainstorm facilitator, blind spot reducer, and CEO at Boss Mom LLC

With over 20,000 students in various courses, a 34,000+ community, and over 10 years of experience in behavior modification, content creation, community building, and business strategy, Dana grew the Boss Mom brand into a six-figure business in less than a year. Dana's specialty is monetizing your brand by creating what she calls a Strategic Free to Paid Journey.

Dana is also the author of Boss Mom: The Ultimate Guide to Raising a Business & Nurturing Your Family Like a Pro, Confessions of a Boss Mom, and her newest book Climb Your Own Ladder. She serves Boss Moms who yearn for more time and less guilt when i... See full profile

Level: Beginner

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1. An Intro to Pump You Up: Welcome to entrepreneurship Business planning 101 I am Dan, um, all staff the founder and CEO of Boss. Mom, we're going to talk today all about how to build your business plan. Ah, modern business plan for the online entrepreneur. I am so excited to have you here because thes six pillars are really important, but can be really simple can really help us move through our business. You can go through this multiple times as you begin to gain clarity in your business and what you're building. So no matter if you're starting your business now have started a business and feel little stagnant or having a business, you are moving into the online space. This can be a really great, simple, easy and quick course for you to make sure you have the foundation that you need. So we're gonna start with six pillars. The number one pillar is setting your path. We've got to know how you want your business to be built, how you want it to look, why you're doing what you're doing to help us get there Now. The second thing we want to do is one understand how to leverage your skills enduring gifts because it's not just about what you can dio. It's about leveraging what your best at and understanding what that is, uncovering what that is, because that's gonna be what you were going to make the most money have the most success. Make the most impact create the most freedom for right now. The third thing is your future. What are we working towards? What you want that end in mind toe look like the fourth pillar is really on. Locking your market, understanding your tribe, understanding that ideal client and your ideal client scale. So we know where you're building up to for that sweet spot on what that looks like and where you're trying to get people. Next, we got a plot. Your financials, right? How do you actually want to make money? How much money in different particular areas of your business do you want to make him? What does that look like? Super important, right? I know too many people that want to make a certain amount of money on when they think about what they're creating. It always ends up coming up short because they aren't planning ahead of exactly how they're going to make the money they need to make for their business to be successful. And finally, we're gonna actually map out your revenue streams, which means the programs that lead up to the revenue that you want to make in your business for it to be a successful business. Six amazing pillars. I know we're gonna have a blast. It's super easy. Super Super jam packed with lots and lots of knowledge and information. Ah, wonderful workbook that you can work through as we go through it. And you can do it time and time again as you going gain additional clarity in your business . So I hope that you will decide to come and join me on this ride. I can't wait for us to really plan out how we're gonna build your business, what it's gonna look like. So you get up and running and successful as quickly as possible. All right, quick to join and I'll stay on the inside 2. Do You Really Need a Business Plan?: Hey, welcome. I'm so excited that you decided to join the course. We're gonna have a ton of fun building your business plan and really planning out what you want your business to look like Now, before we can hop in. I did want to take one minute in case you reluctantly click the link and said, you know, I'm gonna join, but, oh, do we really want to spend the time building this when I should be doing things in my business as opposed to planning in my business. So I really need a business plan. And the answer is a whole hearted Yes, Yes. You need a business plan. You always need a business plan. You always need a plan, right? Because I think that quote goes something like, if you don't know where you're going than any path will take you there. We don't want that. The most successful businesses are the ones that know exactly where they want to go and exactly how they're going to get there. The little things that come up, you know, and change as we go are okay, But you know where the line is. So you know you don't go too far off path. We need that business plan because a lot of times in our business, we don't have the clarity to know all of the answers. We don't have the clarity toe have the decision confidence to make the appropriate decisions for our money for our time. For all of our resource is a business plan helps give you that clarity and helps you see the gaps in the spaces where you need more clarity so you can get additional resource is or additional support, right. To help you fill those gaps, you have to have a business plan. Don't go any further without one. Take the time working in your business and planning just a little bit is going to take you take up so much stress and save so much time and hopefully so much money in the future. It is something you need to do. I know you want to do because you're in this course now. But I felt like I had to just drive it home, get you motivated, get you excited. Make sure you put that workbook out because we're gonna about to go on an awesome ride together and at the end. You're gonna have some. Hopefully. Ah ha. Moments. Right. They get really excited about what you're doing in your business so that you can get through all the challenges that are gonna come up with normal business running. And you're gonna know exactly what you want, how you want to get it and how you're gonna get it. All right, let's hop it. 3. Business Planning Course Project: Okay, so our project for this particular courses, it's pretty easy. What is your business? What is your business? I want to know now. Why do I want to know? Because I'm so excited about only amazing businesses that people start. But I also love for people to go. Oh my goodness. I didn't know they started that way We could, Collaborator. Oh, I didn't know we should get on a calling. Be a master minor. You confined your community in this course in the people that join this course. So in your project, I want you to tell me what your business is. OK, tell me what your business is now. We also have a few things as we go through each of these modules I would love free to Then add to your project super easy to dio add to your project. And just as you go through the program, tell us like who's your try, right? What do you guys all have common ground about? You know, if you feel comfortable, tell us where you want your business to be in the next year, right? If you want to tell us about what projects you're working on, so maybe find accountability partners in this space. The only thing you have to do for your project really win. My love is tell me what your businesses and give us your website so I can get excited about it if you've got one already, right. And I cannot wait to see all the amazing, amazing things that everybody that's taking this course is creating and putting out into the world. I'm so happy that you are taking this leap to really do this in your business because it is super important that we all start things, create this amazing economy of bustling entrepreneurs that are creating new and innovative things and putting out brilliance of beauty into the world That makes a super happy. OK, make sure you go down the project right now and tell me what your business is. 4. Your Path & Skills : Okay, so let's talk about the first pillar which is setting your path Now have my computer here. Hopefully you've printed out your workbook, so I may be referencing back as I'm going through to so I can help you actually go through your workbook as we're doing this together. Now, the very first thing you have to consider when it comes to your path is what is that sweet spot for you? What is the sweet spot where you are? Really? If you see them in diagram enter that comes easily to you, right? That feeds your passion. And there's a need, right Comes easy to you, feature packed. And there's a need now the first place that we always go is the things that were good at, right. We're good at them. But we don't always think about the things that were gifted at. And what I want you to start thinking about isn't just what can you do in your business? I want you to think about what are you amazing at, right? What takes you 15 minutes that it takes somebody else hours or maybe even days? What is that thing where people go? How? Why Why does my brain not work way your brain works? How do you do that? Like goodness, that's amazing. I could never do that. You think about those things because as you are moving in your business, if you've been hone in on the gifts that you have, where you can do it in a fraction of the time when other people have to do it in a long period of time, that's so much more financially valuable to other people. And you can charge more and it takes you less time, and you gain that that clout. You gain that 30 in that space because it takes you less time to do it in a superior way that other people can't. And that's just because you're indignantly tapping into your gifts. One of the best ways to think about this has to really think through not just what it is that you were good at from a task perspective, but from a behavior perspective, how your brain works, how you function, how you naturally attack a problem or a thing right. So instead of saying, Oh, I'm good at computers on, maybe I should do something with computers. Think about? Are you good at organizing? Are you good at details? Are you good at sitting in a place and being still and working in something for hours and hours at a time? Or are you somebody who needs to be out in talking and about networking and sales and all those things? What do you love? And what do you fear when you start to think about these things and you convert respect? Ahonen, What comes easily to you? What comes naturally to you? The physical things that make you the most money. Now, as far as what feeds your passion? I've talked a lot about, uh in podcast episodes and things like that talked a lot about this idea that your gift and your passion are not always the same thing, right? And a lot of times we build our businesses off of our passions. Right? And I want to make sure that you that you build your business off of your gifts and then it feed your passion right? Because sometimes our passions aren't always built into what we're good at, right. And it could be an uphill battle. Now, a friend of my mic aiding said an amazing quote that I think of in my head all the time. And I remind myself all the time, which is your business is not a charity. Your business is a conduit with which to be charitable. When we think about the things that we're passionate about and the things that we're excited about, the things that we want to donate to, the things that we want to help the people that we want to help, we always have to remember that our business is not a charity. Now, if you're starting off for profit, you want to be charitable in your business and how you're building it, then if you are making money right and you aren't honing in on your gifts and what you're trying to accomplish, bringing in the resource is that have those particular gifts to fill these gaps that you need, then you're not gonna be able to have a business. It's viable and sustainable, and then you can't be charitable. So as we're thinking about what it is that we're doing in our business, I want to. If you already have your business idea planned out, ended up with these ideas of it's something that actually makes you less. Time takes us mental and emotional bandwidth to complete the people, get your gift and does it? Is it the passion? And it's not a gift that you were trying to do it, but it's you know, it's hard. It's in a battle. Or can your gift feed your passion? Right? Either your business is completely separate from whatever your passion isn't. Whatever you want to give, whatever you want to, you know, do and create and help with. And your business is big enough and grows enough that you can then do those things. Or you might find that that need to create that passion to create that passion, to help that passion, to do whatever it is is really even, said Mawr. So when you figure out what your gift is, so if you don't know what your business is, start brainstorming these and use the worksheet. And if you do know what your business is, think about exactly what that is and start working through the worksheet, using that to answer these questions about whether those are your gift and your passions. Right now, we've also got to know about whether or not, there is a need. Is there a need for this particular thing? What problem are you solving right now? Everybody hears that course. Of course I have a business. I need to be solving a problem. But you have to be acutely aware of what problem you're solving and that people actually need that and need to have clarity in that. And your sweet spot is the intersection of when it becomes easily to you the thing that feeds your passion. So you're still motivated every day to get up and actually do it, Andrew Filling a need. That's the sweet spot that we want to get to two. And if we can get you to that sweet spot beautiful, wonderful things happen. I'm telling you, beautiful, wonderful things happen. Okay, So once we do those three things that we want to package your gift, we want to think about What is it that you are going to be selling in your business, right? If you already know this, then think through this process and fill out the packaging ever gets. What are those offer offerings? How well does it fit? How well do you love it? So that we can plot those things out. Okay, That is the first part of finding your path. Really? Setting your path is understanding what that sweet spot is right of what you want in your business. Because if you can figure that out, then you're gonna be in a beautiful space. All right, fill that out in the workbook, and then we will move on to your future. 5. Your Future : So now we want to think about your future, and I like to break up your future into three main areas. Your environmental, financial and emotional future. If you can plot out where you want to be in six months, one year, three years, five years for these three different areas, and it's gonna be much easier t understand what you should say. Yes and no to plotting out your future gives you something amazing. It gives you decision confidence. It gives you the ability to look and see what you want and see if what opportunities coming up, whether it's actually helping you get there or if it's taking you off path. Or maybe it's just holding you in a holding pattern, right, because it's not truly aligned with where you want to go Now. The reason we break these up into three is because I think these are the three sort of all encompassing components, right of what it is that we want to have in our future. So the environmental is the place that we're going to start. That's your still groundings. What do you want your office to look like? What you want your home to look like? What do you want to be traveling? Do you wanna have a station home? Do you want to be? You know what you want that toe look like? Is there a lot of spontaneity? Is there a lot of security is what do you want to be able to move into a new home? Newman, to get your own office space as time goes by. How do you want your environment to change now? That includes physically, and it includes the people around you. What environmental Sort of people, Not environmental people with the environment of people that you want in your life. This is so incredibly important because who you surround your itself with is massively important. Right? Who were hanging out with is massively important. If you want to create a certain kind of success, hang around with people who already have that success, and it's not because they rub off on you, right. It's because their mindset is the mindset that you want. And when you surround yourself with people, have a certain mindset, act a certain way and do things a certain way. You will start to assimilate that into your world, and that's what you want. I am a living product of that, and so is probably everybody else who is successful, right? Were the some of the vibe people that we surround ourselves with, so make sure you know who you want that to be. Now that may include that may include things that you're now that may include Facebook groups that you're in linked in groups that you're in. It might include meet ups that you go to. It might include where you live. It might include who you continue to talk to or not talk to. But you have to think about what you want that environment toe look like. Now, the 2nd 1 is your Fanjuls. You've got to think about what do you want to be making and what do you want to be bringing home, right? So your revenue and your profits are two different things and you got to know both right? I know us entrepreneurs. We always love to speak in revenue. But let's be honest. The prophet is what you take home. And if you're not taking any profit home, that it kind of gets sad and overwhelming to have a business we want successful businesses that actually give us freedom and allow us to make a difference in the world. So you got a plan out What you want that toe look like? Especially when it starts to trickle down into us. Planning what programs? And the pricing of those programs for your business and what you're going to sell. You need to know what you want to make. So that we know of what you want to sell can make you that right. Important things to know, but things that are often sadly overlooked. So I got a plot out. What do you want your financials to be? Kind of. Where do you want those things to come from, Right? What do you want? Those finances toe look like? How much do you want to come from? Different places in your business Now, Third emotional. Now, don't skip over this. Even if you're somebody who goes all Dan had No. Do I really think about how emotionally want to feel in the future? Yes. And I will tell you why. Because how he want to feel dictates what she say. Yes and no to do You want to feel in control? Do you want to feel empowered? Do you want to feel stress free and calm? Do you want to feel Leverett like you're leveraging? Do you want to feel? I mean, the list of emotions? Go on. You've got to decide what it is that you actually, I want to feel because it is not the same for everybody. Right? And if you want a stress free feeling in your life, well, then traveling five days a week to go speak at conferences is gonna be something you don't want to do it If you can check back in and use this as a sounding board to say, Oh, that's what I wanted to feel. The things I'm saying yes to right now are not leading me towards that result. It is massively important. Believe me, you do not want to start a business that you end up resenting that joined a painting that you end up crying over. I mean, we have cried over our businesses and if you haven't yet, believe me, you will. And that's totally okay in all relationships that we have. And your business is a relationship that you have, right? It's kind of your baby you're gonna have these emotions that come up. Why don't you be in control of dictating what those emotions are and fighting you towards the end Kind of emotion that you want, so keep that might. Now I want you to go into the workbook. I want you to fill out all of the pages that have to do with your environment, your emotions and your financials so that we can start to plot out what your future is going to look like. 6. Your Tribe: All right, so now it's time to think about your tribe. Now, your ideal client, your community, you can call them what you want. The reason that I call them a tribe is because I believe that a tribe functions in the way that your ideal client in your community should function. And that means that everybody has something in common. They're all working towards something in common, right? Everybody is has a part to play. And when you start building online communities and you start having a movement percent right, then you start having things that people will get excited about, stories that you tell and interviews that you do. You want to understand what your tribe looks like. Believe me, your ideal client lives in your tribe. But we need to defy your tribe first. Because that's the important part, right? If we just try and pick out individual ideal clients, you're gonna be floundering online in this massive, huge space, trying to figure out when your people are Let's figure out, your people are, and then it becomes super easy to find your ideal client that lives within that space number one that we're gonna work through in your workbook is what is your tribes? Common ground, right? It could be that you all are moms, right? It could be that you all love this particular kind of marketing or that you it's care about this particular thing in the world that you're all working towards this common good. Or that, you know, like like in Boston Mob, that we all feel like you shouldn't be guilty, that you want to own a business and have babies at the same time. And you could do it. We can show our kids that it's financially viable to what we love. So our kids don't think work as a negative word. Do you see how concisely I say that I know who my tribe is and we pan together and get excited together? And then there's a percentage of people within that tribe that need my resource is to help them raise and nurture their businesses. So that's what we got to know. What is your tribes? Common ground. What do you guys all want to stand up for? What you guys all want to do together? How do you guys want to connect? What do you all believe? in. Now. What is your role in your tribe? Because you might be the host. You might be the expert, right? You can't decide how you want to pull together your tribe. How are people going to see you? Are you constantly online teaching? Are you constantly on timeline showing them behind the scenes, Right. Are you constantly online sharing your challenges? Are you interviewing people? What is what role are you playing within your tribe Now that can be different as time goes on. But you want to think about these things because it's important to know. I know a lot of people who have not thought this through and became a host. They had a lot of online summits and they interview everybody. And then they don't understand why people aren't buying their expertise, that that's because they haven't set themselves up as a role in their tribe to be the expert, right? She got it aside where you are gonna sit in your in your track, what your role was going to be. And what are the other rules that other people are going to embody and encompass? Now, if you start a Facebook group or LinkedIn group, right? Or you're starting to tribe on on Pinterest or whatever that is in an online space. Maybe you're having events or having meetups. You've got to decide what roles other people play, because it is really important to recognize that you do not have to be the only person in your tribe that helps your business and your brand grow. Your brand can be so much more than just the products and services that you sell. It could be so much more than you when you allow your tribe to build up and get excited about something together. The things they also began around and all you know, holds it together. Then all of a sudden, this amazing things happen. People start to promote you for you. People start to police things that they feel like our competitors for you and talk about why you're you're awesome of why people should hire you. These amazing things start to happen, right? But you have to know what rules you play and what rules other people will play in your tribe and then eventually in your team. Okay, now, here's the other thing you gotta know from a tribe perspective, you have to know what are the frustrations? What the fears one of the wants of one of the dreams are the people that are in your truck Now. Now you can start to drill down where it's more about the ideal client who wants to buy your products and services, right? So from a frustrations, fears, wanted dreams you want to plot out in your workbook Now, frustrations are the things that make their life more difficult. Okay? And the great thing about frustration, fears, wants and dreams is this is all stuff you're gonna put on sales pages that get people to buy your products and services. Right? This is all things that you're going to mention on videos that you're gonna put in post and Facebook ads. Things that you are going to talk about on interviews, right? Those air, all these four components pretty much make up what sales pages look like. So, from a frustration standpoint, why is there life more difficult? What makes them cry at night? What makes them get angry makes you want to pull their hair out. What makes them want to give up what is frustrating them? What is wasting their time wasting their resource is what is making them go? Holy moly. If I could only find a solution for this thing named those frustrations list out as many as you can always come back to this. The more you can get, the better. And the more people can tell you, the better the 2nd 1 is fears what they actually scared of what is keeping them from taking action, right? It's maybe, you know, some things might be how Well I'm scared that if I do this, I will change in this way. I'm scared that if I do this, it means I don't care about this or I can't give my time and space to this. I'm scared that I fear that I'm worried that what are the things that they actually fear, that keep them from taking action? What do they want? What is the dream state? If you had to do these phrases that say, imagine if you know, imagine a world where like, wouldn't it be amazing if those kinds of phrases that lead to what they want What did they want their environment toe look like? What do they want their emotions to look like what they want their finances to look like. What do they want their life to look like? What did they want to look like? Plot out all of those things? The more you can get, the better. Ask your community. Ask people, you know, right? Also, a really good hack is go onto Amazon. Find books that really speak to your audience, Speak to your ideal client, scroll down, go to the reviews and read what people say. People will tell you amazing things and reviews of really popular books that fit with your ideal client that tell you how they feel, what their frustrations are, how this book changed their life, what they were scared up on, what they dream about all those things happen. Now the difference between wants and dreams, the wants are the things that they just really they wish could happen. They feel like they're in their grasp the dreams of the things that would change their life for other ever. The massive transformations that they just maybe don't even feel like are possible because you're gonna want to dabble in both when you start to talk about how you are going to change people's lives. And what working with you were doing things that you were having your product and service is going to do for them and how it's gonna bring them down this journey. Okay, so I want you to plot out what this looks like. And this is gonna give you some really good insight into your ideal client and your tribe. 7. Your Value & Finances: All right, now we've gotten to the finances. Now, in your workbook, I've kind of plotted out the main things that we see in online space. You've got one on one coaching group. Coaching courses like the one you're taking right now, Products, projects right, Which is one off projects of people services, which is more packages with people, events and affiliate programs. Those are gonna be the main ones. This is doesn't have to be an exhausted list, but this is the most popular. So what I want you to do is I want you to plot through here and say the ones that you want that you're doing now or going to start in very short order the things that you just never really want to get into the you never want to do one on one coaching, right? Maybe. Maybe you never want to do events. That's totally okay. You don't do all of these things and technical. You might change your mind. Right? And then what did you want to do later? You want to earmark for doing something in Q Q Q three and I would say later put put the quarter or the month of the year that you want to actually start toe dig into that particular part of your business. And then how much do you want to make this year in each of those, if it's something you're never gonna do, you just leave it blank. If it's something you're gonna do later, and it's not going to be this year, and then you can leave that blank. But it starts to help us see how much you actually want to make in different areas of your business. This is really important, because if you know where you want your finances to be, We've talked about that future of your finances. But you don't know exactly what you're going to sell to help you get there. Then it becomes hard to run a successful business, right? Okay, Once you've done that, we've got to start to determine your value, okay? And what this is is you gotta know how much you want to work each week. You know how much time you want to put in how valuable is your time? And this doesn't have to just apply to one on one coaching or group coaching or anything like that. It can apply to, Really? How much do you want to work? And how much do you want to make an hour? Because no matter what you're doing, you can drill things down to how much you're making an hour. And how many times have you heard somebody say, while when I really did all of the math, I was making $5 an hour, even though they paid me this $10,000 contract because, Oh, my goodness, there was so much work that went involved. We want help save you from that, and this will help you do it. So use this little calculator in here to understand how much you want to make for the year . Based on what you said up above, you're gonna take out what you gotta do for taxes. Take out what your estimated expenses are. If you're not sure what your expenses are, then I want you to kind of make an estimate. Think about the tools you need. If you're gonna have any people on your team and if you're just starting out, maybe those expenses air really low. And that's awesome, right? So that gives you your take home and then You got to say what hours you wanna work each week. And what hours? Um, you wanna work? What? Weeks You wanna work per year? Take the vacation weeks off in those kinds of things. Okay, so it's gonna give you a good base. Now, the next thing I want you to do, and this is so important. And this can be a massive Ah ha! Moment for you About what you're doing in your business. This might change your decision about what you're doing in your business. And I say that because I've had a craft clients who had this Ah ha! Moment. There are three circles ones the sample, your money and your time. What I What this does is I want you to plot out where you're bringing in your money and plotting out where you're spending your time. Okay, Now, if you're not making any money right now, think about what you're planning on selling and sort of use that as a gauge. Okay? Based on what you said on the page with how much you want to make from each of those particular things. So if you're doing coaching, um, you know, affiliates, courses, a group program. Something like that. Plot that out in where your money is coming from, how much money is coming from. And you could just base this off of the numbers you put in there. How much money is coming from coaching, right, How much money is coming from affiliate programs? How much money is coming from here? Now, plot out the time you think you're gonna dedicate to that, right? If one on one coaching takes all of this time, writer doesn't take a lot of time, and it makes you this amount. But doing these you know, products and creating them and putting them out takes all of this time maybe your hand knitting something, right? Maybe you're manually creating this thing or manually doing this thing or manually something, right? It's taking all of this time. This is this amazing thing happens. You start to understand that a lot of times it's the 80 20 rule, like always is true in life, right, which is basically 80% of our time, is bringing in 20% of our money and 20% of our time was spending and bring in 80% of our money. And you will find that in this simple, simple exercise. And I'm not gonna be able to change the fact that it's the 80 20 rule. What we want to do is help you leverage that 20% right now something that somebody told me . A very important person actually told me many years ago that has truly changed the way that I run my business. And maybe it will help change the way you run your business is that you gotta think that when you sit down, if you could If you're spending time doing something, you're spending an hour doing something in your business that you could pay somebody less than what you would make in that hour doing what you're really great at, then you're losing money in your business. What that means is by sit down to create an image to post on social media. It takes me an hour right when I could have spent that hour being on a call selling a $500 program or being on a one on one client that's paying me something right or doing creating content or doing something that I'm really great at for somebody for a particular say $500 I could pay $30 in order to have somebody create that image. But I took an hour to do it that I just lost seven r $470. In my own business, we can't just think about the money we make. And we in our business we have to think about the money we lose in our business by wasting time, doing things that don't make sense right now. That's not always easy to discern when you start to do this kind of exercise that's really gonna help you hone in on that and continue visit back on that and take on that and really every day say, Could I be making more money doing something else in my business? Could I be pushing this off to somebody else? And if you don't have the funds to hire that person and start making financial milestones when you're doing this, planning in your business to help you gain that amount of income that you can hire somebody ? My very first hire in my business was four years ago for two hours a week to help pitch me on podcast. That was the very first thing where it didn't make sense that I was taking a template and editing it When I have somebody else do it for a fraction of the cost and I could go up and sell for my business makes a huge, massive difference. Okay, now, the next place that I want you to go to his determining your value. This is where we actually take the revenue. We divided by the number of weeks by the actual revenue per week and starts to look at how much you would charge per hour or how much billable hours we're gonna work per week. Both of these can work really well. If you are. You know how much you're charging per hour. Then you're going Teoh, use the bottom section. And if you're not sure I need to find that out, you can use the top of this. Helps you start to break down what you would actually have to charge to make what you want to make in your business. And that in itself will help give you some ah ha moments and some realizations about how you're building your business right now That helps bring us through the major planning of your business. Now there's so much more than we could dig into. We could do hours and hours and hours and days and days on these particular topics. But this gets you started. And now we're gonna talk about your actual revenue streams, the actual projects that you're going to create, and programs and products that you're going to create to bring in the revenue in your business and in the short amount of time, it should give you some really great ah ha moments really good clarity to help move your business forward. 8. Your Tangibles & Projects: All right, So now we're gonna talk about I often call this in coursework that I create your tangibles right. And these air your projects. These are the things that you work on that helped bring in revenue. Now, this may be a pro program that you're working on it maybe, you know, automating your business and maybe systems it may be, You know, the program that you're launching it may be a podcast, a book, whatever it is that the projects in your business that helped to either make you money or help to market you so that you can make money in your business. I mean, let's be honest, you're running a business. You have to bring in revenue. I'm gonna say it again. Your business is not a charity. It is a It is a conduit with which to be charitable. You can have the freedom and have the impact that you want in your life as much as you want . But your business has to be financially viable in order to do it. Otherwise it will fizzle out. You will get burnt out and nobody wants that. I want success and sustainability for you. So you gotta think through these things. Now we only give you the option of three projects in this worksheet. And the reason why is because it's hard to handle more than three projects at a time. Now when your business grows to be able to have a team, then maybe you can handle more. But I have a full team and I can tell you, even then, we really don't like to juggle too many things at once. It does get overwhelming. It's a lot of balls toe have in the air, and you want to have a business that can grow because it is focused right. Businesses that grow are ones that are focused on a finite amount of goals so that they can really dedicate themselves to executing those those projects to reach those goals with excellence. And that's what you want. Right now, the thing to think through in here is for your project's name of the project. What's the purpose of the project? What do you want it to accomplish? If you're going to start a podcast, we're gonna write a book. If you're gonna launch that group program, right, you're gonna make that course what do you want to actually have it do for you? You know, of course, like this leave the function to enter people into excited about starting a business so that they know it's possible to start and raise a business, right? And therefore, all my other things that I have in my business become relevant to potentially you. Right? That's a purpose is the purpose to for you to get to know me, right? Is the purpose. Maybe that's a podcast is a purpose. To create clout for myself to create authority, right? What is the purpose? Is it to network? Is it to create connections? Right? Is the purpose the project to create a program so that I can actually sell and create some passive income? What's the purpose of that project? What's the desired result? Right? How much money do you want to make like, how many people do you want to impact? How many people do you want in your email? Us? What do you want All of that toe look like? And how does it serve your business? Right. You got to be really clear. You talked about kind of purpose of it. But how do you want to serve your business. What do you want it to do? You want people to go from here? Toe What? Right. How do you want to serve your business? You want them to go from here? Toe. Where? Where do you want them to go after this? What a potential collaborations for this project that might enhance the success of it with either creating of the content, the marketing of the contents, right, the visibility of the content and the promotion dates, right? It's not just about what it's gonna be out in the world when you gonna actually promote it out into the world. And then one of the launch states. Now, we don't have time in this particular course to go deep into how you actually launch a program that is the big undertaking toe walk you through. But for here, we just want to start getting your wheels turning about what these look like for your business planning. OK, Next, I want you to think about what is your annual counter now. Please do not skip this part cause this is so incredibly massively important, right? Planning your annual calendar products and launches what are all the things that you want to put out into the world within the next year, right? What are all of the things that you want to put out into world into the next year? Because believe me, you can do too much or you can try and do too much and not finish it or not. Finish it Well, right. You want to make sure that you are not trying to do all the things because that doesn't create success. All the things sometimes more is just more right is not gonna help you. Content creation. What do you actually need to create this year? I find a lot of people don't give themselves enough time to create because they're so excited about what they're going to launch. We need to make sure you have time to actually create the content. What collaborations do you want to do this year? What places do you want to be featured? Where do you maybe want to speak? Where do you want to connect of people? Maybe do co projects together, maybe start something with somebody, maybe give bonuses to each other? What collaborations do you want to do? What is your family or personal schedule. This is massively important, right? If I had a nickel for every time somebody planned a launch and then they forgot that they were going on vacation two days after it launched. Right? Don't want to do that. Plan that out now. When do you know your kids? If you have them, have vacation, right? When do you know are terrible times for you to Teoh do something right. So family schedule for sure. And this is an important part to think about your audience. Think about how they live. For instance, from a boss mom perspective Mom's air prepping to get their back kids back into school. You shouldn't launch something in August if your target audiences moms, because most of moms aren't aren't paying or investing in things in August, right after September, when their kids go back to school, they're all in their particular times of the year when people are gonna be too busy focusing on other priorities. So you not just think about your family schedule. Think about your ideal clients. Family schedule, right? Okay. Self care when you gonna build into your calendar. Thanks vacation for you. Things that you're going to do things that you're going to care about yourself for time in your day. For instance, Mondays for me are planning days, air recording. These are content days. No meetings on those days. Except for my one operations meeting. For with my team, Fridays are always open. I never put meetings there, but I work out in the morning on Fridays and in the rest today I have opened to either have overflow, right? So I don't end the week being all crazy. Or I can meet with people that I want to have lunch with collaborations, new contacts, and it gives me that space to do that. Right? So you want to think about exactly where you're going to have that self care how you're gonna set up your schedule to accommodate and then planning days throughout the year when you're gonna have just like teachers have in service days. You need to have those in your business when their strategic times throughout the year. When you plan, maybe it's in the beginning of each quarter, right? Maybe their particular times, Maybe you and your team are gonna go have retreats, right? Maybe you know you're gonna be traveling or their particular times. You know you're gonna have more space where your brain is in a great place. Think about those times and plan that out and then lastly, plotted into a counter. Take different colored, uh, Crans or highlighters or markers or whatever you want and plant those in. So you know when you're gonna have calls, right when you're gonna have launch programs when you're gonna be at events when you're gonna do collaborations, all of those things believe me doing this is gonna help you say yes or no to things that is gonna make a massive difference in how you actually run and grow your business. 9. A Final Note : Okay, We have covered a lot in a very short amount of time. So what I want you to do is I want you to fill out the workbook, take as much time as you need, go back and read. Listen to these. Ask questions. Please ask lots and lots and lots of questions because I am here to help. This is just the beginning of your business. Planning their take, so much more time in space and effort and and all the things right to run your business. I am telling you, running a business is a challenge, and I'm not saying that so that you don't do it. I'm saying that because that should invigorate you, that you are going to You're taking the right steps now so that you can have a successful, viable and sustainable business, and that's what I want for you. The online space can be scary. It could be big, daunting. It's overwhelming, but that doesn't have to be the case if you do the appropriate planning. Starting out now we have other courses about social media and content, strategy and all those things. So go check out my other courses because I think that you're going, Teoh, Find some really great resource is there? And we're gonna be putting out courses frequently. Hear from Bosman from my lovely new office. Eso make sure you go and check out the other courses that I have because they're gonna help fill in the gaps. After you put this plan together on I have super except make sure you ask questions. I will be in here answering questions so that we can get you moving. Get your business moving. Getting other resource is that you need to take the next steps on. I can't wait to see what you create.