Creating A Financial Plan For Your Back To School Quarter
It’s so important that as a busy childcare business owner that you not only plan for your staff, your business goals, and your marketing goals, but that you also have some financial planning take place in your business to help you truly feel good about your gains, big wins, and revenue in your business. I want to talk to you about making a plan to generate income in your childcare business and for you to know what type of expenses you will incur in our childcare business for the back to school marketing session.
I teach my clients the importance of tracking information. If you have the records from the previous business year, this is a perfect time to pull them out, and look at the records as to the results that you are experiencing in your business. Inside my Goal Accelerator, I provide you with a layout to help you plan for increase and prevent overspending so you can reach your goals faster.
To attain your financial goals, I want you to look at the records that your business generated the previous year. How much money did your business generate each week of business for the back to school quarter? The back to school quarter can consist of September, October, and November, and may also include some of the month of August depending on where you are. Pull your financial records in advance and look at where you were financially three weeks before school started and three weeks after school started, and give yourself and average for the amount of money you generated. Challenge yourself to make $1,000 more each month in your business than you did the previous year.
Starting off with a simple financial goal of $1,000 can be easily accomplished if you write it in your Goal Accelerator and focus on your marketing strategy to help you achieve it.
The next area is I want you to go three weeks before your back to school season and calculate all the money you spent on business costs, and three weeks after back to school, and calculate how much money you spent on business costs. Add them together and get the average for what your business will spend on average. Compare your profits during the back to school quarter.
It’s so important for you to have projections and budgets in place of what you will obtain financially from running your business. It’s really easy, it only takes having records in the right layout so you can understand what to do with the information.
Inside the Goal Accelerator, you’ll write the month and your financial increase goal. Again, if you’ve never done this before, to push yourself to increase by at least $1,000. Then you just layout a format to begin to track your increase and your expenses so that at the end of the month you can look at your total income, total expenses, and whatever money you have that will carry over. I call this Money At A Glance. It’s so important that your Money At A Glance records be consistent. It will help you control your spending, but also be prepared for back to school from a financial point of view.
The next section of your financial layout will be for you to track each week’s expenses that you’ve paid for. Tracking what you are spending your money on will help you truly know what you’ve made in profits. Having a profit in your business is the key to having a successful back to school season. If you’ve never tracked your income before, be sure to check out the Goal Accelerator. It’s one of the products I’ve created to help you track your finances, and also to set goals to achieve more. It’s a place of accountability for childcare business owners who have tons of cash coming through their hands, but don’t know what to do with it.
I always believe that if you give your money a mission and a plan, you’re apt to keep more of it. Just this week, I was reading an article from America’s billionaire who has invested in Apple, Uber, Periscope, and Facebook. He has investments all over. He’s a billionaire, and only 39 years old. A key point to becoming wealthy fast that he shared with the audience was that you save your money. I thought to myself, “Wow. How simple is that? This is the easiest way to becoming who you want to be financially.” That is to save your money.
If you are not tracking your money, determining what you truly made in profits, you’re always going to feel like you don’t have any money to put away, and that you don’t have money to save. I’m here to erase that mindset and decry and declare to you that you do. Within the last 30 days, I was able to put up $8,000 of income. I didn’t know this money was coming in so fast in my business. If you are not tracking, start tracking right now. Once I started tracking, I started seeing more money in my back account, and less spending. I wanted to see my money grow, so I made a goal to watch my money grow.
I made that goal to make my money grow. I spent less and watched more. This is a key point to your Goal Accelerator process. It will help you do less spending and more watching. If you have not purchased the Goal Accelerator, now is the time to do so. www.TheGoalAcceleratorKit.com