I remember when I built my first business and had absolutely no idea where I was going. I would blindly put one foot in front of the other without really knowing it would all be okay. It was the ultimate test of stepping out in faith.
Everyday, I wondered if that would be the day it all fell down around me. Usually the fear was something to do with running out of money. ( I spent years wondering if the next month was the month I would run out.)
(Side note: That feeling didn’t go away even after I had lots of money coming in until I had the perspective of having been through a whole lot of ups and downs and discovering that I always came out the other side okay and never actually ran out of resources.)
Because I didn’t have any experience in business, I frequently found myself lost, confused and uncertain. On very unfamiliar ground.
When I built business number 2, I experienced financial success much more quickly because I had a totally different perspective on what it would take to build the business from a financial standpoint. I was no longer blindly stepping out in faith. I now had a 30,000 foot view.
What took me three years to do in business number 1 took just a year in business number 2. Seven figures, baby. There’s definitely a freedom in that.
It happened so much faster in business number 2 because I had perspective from building my first business. I could see the big picture between where I was and where I wanted to go and the terrain that I’d need to cover to make it from start-up to profitability.
With that perspective, I could build a money map.
A money map provides a clear path between where you are and where you want to go to not only reach your business and life financial goals, but also to schedule your time and make the right hiring decisions.
When I was building number 1, I had no idea there was such a thing as a money map. With business number 2, I didn’t even really know, I just kind of knew. But now, with the experience of two businesses, I can see it clearly.
With a money map, you will:
- have clarity about your lifestyle desires and what you need to do to reach them;
- prepare a clear financial model for your business (and your life) even if spreadsheets make your eyes go cross-wise;
- create a 6-12 month promotion and events calendar so you know what to do when and can finally stop scrambling (big clue: every truly successful biz owner I know has one of these on their wall with dates filled in with promotions and events); and
- finally have an organizational chart with clear job descriptions for the team mates you need to join you on your journey.
Now that I’m building businesses number 3 and 4 (yes, I’m what they call a serial entrepreneur), I can clearly see how this money map will make it all so much easier and give me so much more clarity about what I need to be doing and when to reach my objectives.
No more wandering around my life and business wondering what to do next. The map lays it all out.
If you’d like me and Dave to host a call that will guide you to create your own money map for 2010, please comment here and let me know.
If I get enough comments, I’ll be able to convince Dave that this is what we should teach on the call we are hosting on the last day of the year. This call is our 2009 gift to you and we want to make it exactly what you need it to be.
Right now we are debating between either laying out this new money map charting process I’ve created or sharing with you a process we’ve both studied in depth that will help you identify what you really, really, really, really, really, really wanting to do be doing with your life.
So, which is it? Money map (in which we give you a taste of the what do you really want to be doing conversation) or full-on get you to your purpose on 12/31?
Either way, it’s going to get your 2010 started right, so save the date of 12/31 at 9am PT and make sure you are subscribed to my email list to get all the details of the call in your inbox. The subscribe box is up there on your right and you get some cool stuff when you subscribe too.
But, before you do that, make sure to leave me a comment letting me know what you’d rather us focus in on for the 12/31 call so you can rock 2010.
My vote is for the Money Map. I'd like a little more practical, hands on topic.
I would definitely find the money map seminar helpful.
Money map, please. Thanks!
Love the description of the Money Map. Right now I'm like… I want that!!
money map please
Money Map please!! My goal for 2010 is to find ways to make more money, and you'd be a great person to learn from! Hope Dave goes for the idea… Thanks Alexis!!
Money map. But my opinion is biased.
For us creative types money is one of the things that makes us freeze in our tracks;) Creating a money map would give a clean guideline and allow for some creative process as well as ownership. Budgets are too strict, yet money needs a clear path and 'bucket' to go into. I love the money map idea-keep me posted! Good luck with the move, so sorry we never connected here in LA
Do the money map. I doubt if we could really do one if we don't already have an idea of where we want to go.