ALIGNING YOUR DOLLARS TO YOUR DREAMS

Your business changed. Have your finances changed with it?

BY LORI (REHNELT) AUFDERHAR (SHE/HER)

As our businesses evolve, our business plans change too! You may have been required to write a business plan to obtain a small business loan and launch your business. Then maybe you put the business plan binder on the shelf or close the file safely in your computer’s documents in case you need to borrow more … Ugh! When we put our business plan on the shelf, so to speak, it’s out of sight, out of mind, and not looked at again.

A fluid document, business plans evolve and change with your business. Have a look at it. Does it reflect your current status? You can use this powerful tool as a way to evaluate and grow your business instead of letting it sit there gathering dust. When evaluating your business plan on a regular basis (this doesn’t require hours and hours, keep it short and simple), you can use the time and details to brainstorm other opportunities or to stop processes that are failing to produce the cash flow you hoped for.

Oftentimes, we start down a path in our business hoping it will take off.

When it doesn’t, I see business owners chasing their tails, spending precious time trying again and trying harder rather than focusing on something that does work. Pressing pause in our business to evaluate can be done on a consistent regular basis. Put it on your calendar, make it a date, make it fun! Let it help you more clearly define your niche or help you get creative with your schedule. What works best for you? When are people showing up for your classes? Does your schedule need to change by season? For shorter winter days, later in the day may work best, while early summer mornings may be the way to go when it’s cooler. Your customer's attendance will be telling, are you tracking it?

What do you want out of your business? What is your target income? What is your energy level? Are you still as passionate about your business as when you started out? Are you willing and able to put in the time and energy necessary to produce the results you seek? Are you being realistic? Can you do anything different? Can you do more? Scattered focus equals scattered results. Are you trying to be everyone to everybody and getting burned out?

• COMPANY DESCRIPTION:

Describe each service or product line

• FINANCE

• Funding: where is the money for the startup costs (seed money)?

• How much are the startup costs?

• Once established, what are the ongoing costs?

• Projected income: What are you charging for your services or product line?

• Accepted payment types: Cash, credit card

• EQUIPMENT, INVENTORY, SUPPLIES

• TECHNOLOGY

• Sign up options

• Credit card processing method

• Email

• MARKETING PLANS: How are you marketing your business, and what is the cost in terms of time, money, and energy?

• Website

• Social Media

• Samples/coupons

• LOCATION: Where are you conducting your business?

• BPI – BUSINESS PROCESS IMPROVEMENT: This is an ongoing evaluation of all categories in your business plan and a great “maintenance addition” for documenting and tracking purposes.

Even when you review your business plan regularly, unexpected things come up. We often view change as a threat. For Example: maybe the space you rent is no longer available and you must relocate! This space is conveniently located and your clients regularly participate in your classes. Now what? Your business feels threatened due to the relocation. You grow concerned about the cost of rent for another space. Doubts begin to threaten you too! Will my clients be willing to drive farther? If my rent goes up, and I need to recoup the cost in charging more for classes, will I lose my client base?

We can look with a fresh perspective instead of viewing things as a threat. An opportunity to grow! This can be a good thing, as hard as it can be to make the necessary changes. Use the right language with your clients, showing it’s a win/win for them too! Maybe you offer specials for new clients in the new area, or you offer coupons to the regular clients moving with you. How about a referral bonus — like a free class when you refer someone?

There is no time like the present to schedule a review of your business plan and consistently add it to your calendar. I recommend right after you’ve paid your bills for the month as you become very aware of the expenses. Tax time is a great time as you pull your details together for your tax return. My favorite time to review my plan is when I’m looking ahead to the next season. Instead of right before the start of the new calendar year, when I see many business owners planning for the next year, consider starting your evaluation one or two quarters sooner? So, in September, start planning for the winter or even the spring schedule and class offerings.

You know your business and yourself; I know you are wise and will figure out the best time for you! +

When the seasons change from winter to spring, we look for the new buds on the trees, a warm caress in the air, and fresh beginnings. But with these exciting signs of renewal may come some unpleasant features: seasonal allergies, lingering sinus infections from the winter’s colds, and nasal dryness. One way to get relief from these and more is using a neti pot.

The history of the neti pot dates back over 5,000 years to ancient hatha masters who taught their students a variety of neti practices, including jala neti, which includes flushing the nasal passages with water, milk, or ghee to prepare the mind and body for meditation and pranayama (breathing techniques). The Himalayan Institute introduced the first commercially available neti pot in the west in 1972, made of ceramic. As westerners’ health and wellness lifestyles began incorporating yoga and Ayurvedic practices, companies produced neti pots in various materials, such as plastic, copper, and stainless steel. When Oprah demonstrated a neti pot on her show in 2007, she brought it into the mainstream, cementing its place as a valuable tool in the medicine cabinet.

The benefits of using a neti pot include, but are not limited to: thoroughly rinsing the nasal passages and clearing all mucus, relieving sinus