When you’re planning for your business it is useful is start with your goal in mind and work backwards. What I mean by that is to decide what you want to achieve, particularly financially and ‘retrace’ the steps necessary to achieve your goal.
One tool that I’ve used to this aim is this spreadsheet. It’s based on very simple maths and a model that Jay Abraham introduced to me some 15 years ago. It’s all about multiplying your profits which is a nice subject matter, don’t you think?
Although this spreadsheet illustration rather simplifies the process it clarifies some basic yet important principles. I read Jim Connolly’s blog a couple of months ago and he reminded me that you should also factor in customer attrition as retaining your hard-found paying customers is arguably the fourth way to grow your business.
You can create your own projected figures for your business using the online spreadsheet I’ve provided and you can see it here
