One concern that I hear occasionally when business owners are deciding whether or not to pursue a project (or multiple projects) is:
“I don’t have the money right now.”
When I hear this, I usually ask the person three questions:
- Is this idea in line with your business vision?
- Is it profitable?
- How serious are you about growing your business?
If I get a: YES, YES & VERY.
Then my response to “I don’t have the money right now.” is:
Stop making excuses.
Look, I’m not saying that you shouldn’t consider costs when starting a project. I actually believe the TOTAL opposite. You MUST have a budget when starting a project. It’s one of the first things I talk about with my clients. You do not want unforeseen costs to bite you in the tush later on.
However, if the ONE reason you’re not starting or finishing a project is because of money, then keep reading.
In this blog post, we’re going to walk through 4 questions to help you get super clear on your goals. In the next post, we’ll talk about ways to get your project done for LESS.
1. Make sure that your idea is totally in line with your business vision AND make sure that that the timing is correct. For a more detailed approach, check out this resource. Below is the Cliff Notes version:
- Write out your business vision and goals. What is your mission, who do you want to be helping, where do you see yourself in 1-3 years? Close your eyes, take a few deep breaths and VISUALIZE. Then write it down!
- Now write out of list of all of your ideas — a total Mind Release (I like “Mind Release” better than “Mind Dump” :))
- Compare your ideas list to your business vision and goals. Prioritize your ideas using numbers. What ideas will help you build or continue to build a solid foundation so that you can grow?
2. Is it profitable? Will this idea make you money? How much and how long will it take? What are your income targets?
3. How much are you willing to invest? This question goes hand-in-hand with #2. The more profitable your project is, the more you may be willing to invest. Both of these questions will help you determine the magnitude of your project. It will help you to determine what systems, tools, and help you can afford.
4. Are you serious about growing your business? OR changing the way that you run your business? And just so we’re clear, I’m not asking this to make you feel bad. Some small business owners are perfectly content with where they are now and have little interest in growing their business. And some have no interest in changing the way they do business. They have their offers perfected and feel totally in control of where they are and what they’re doing.
However, I have a feeling that if you’re reading this… you’re probably interested in changing things up. You want to take your business to the next level, or figure out how to do things differently, Maybe you’re interested in running your business without feeling those flashes of overwhelm that tend to distract us from moving forward.
If that’s YOU, then you are GOING to complete this project. Our next post will discuss ways to make this project happen without breaking the bank 🙂