How many times have you searched online for how to write a business plan?

How to set up an online shop, or how much you need to make to grow your business?

You have probably bought online courses, downloaded business templates that just took up your storage space, didn’t do what they promised, and finally ended up in the bin.

The truth is, none of that will help if you do not know the business you are trying to build or how it will help you grow your income. It's like throwing away your vision and uniqueness for something fancy, only to end up feeling confused and overwhelmed.

That's why I created this episode to help you get clear on what you are building.

This episode is for you if you:

• Have business ideas but don’t know where to start?
• Want to learn how to make money online using what you already have?
• Don’t have a clear plan and need support to write a business plan that works for you?
• You are juggling work and family life while trying to build your online business.

You need a clear plan!

You need a strategy that turns your ideas into signature products or services, a structure and system to monetize while protecting your health and family life.

Now, before you start getting all worked up about writing a business plan, I know this may sound complicated. But stay with me, friend! I'm not talking about a generic business plan that you can download online and try to make it fit. That actually creates more overwhelm, and I don't want you to stay stuck.

I will show you a simple way to write a business plan, no fluff, just you and me, and a blank document. Yes! You heard me!

In this Business Series, Episode 20 (Part1), we will discuss the 7 Reasons Why You Need a Business Plan to Start and Grow an Online Business.

Whether you are starting from scratch or wanting to grow an existing business, I will help you get those ideas out of your head, clarify your vision, and purpose. So you can start creating the structure and system to build your signature business.

I hope you're ready.

Grab your notebook and favourite drink, and let's get started.

Next Steps:

👯Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule to free up time (up to 20 hours per week). Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

✨ Download Your FREE Product Validation Template to validate your ideas and attract paying clients (full steps in Episodes 5 & 6). https://bit.ly/validatemyideas

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

RELATED EPISODES:

19 | Rent Shop Series: How to Determine Your Rent Costs and Affordability Using Your Business Plan, Revenue and Financial Budget (Part 4)

4 | Want to Grow Your Business? Niche Down Your Business Ideas and Attract Paying Clients (Part 3 of 3)

3| Don't Know What to Sell? Simple Business Plan to Clarify Your Ideas and Grow Your Income (Part 2 of 3)

1 | Overwhelmed by Your To-Do List? Use These Time Management Systems to Save Hours Each Week as a Busy Mum

• Are you tired of working from home and struggling to decide whether to rent a physical shop?
• Want to grow your business, but worried about the financial costs and taking on debt?
• Do you need help writing your business plan and don't understand how much revenue and profit are required to cover the commitment?

In this episode, I will show you the key figures you need to consider before committing to a physical shop, including revenue, profit, savings, set-up costs, and cash flow forecast.

I share my experience of building my online business before taking on (renting) a commercial premises of 386 square metres, which I turned from scratch into a massive, state-of-the-art Hair store and Beauty Salon, one of its kind in town.

What You Will Learn:

• Why it is critical to know your numbers.
• What to include in your business plan, cash flow, and financial budget, and why it helps you make better decisions.
• How to understand your numbers and what to look for when checking your affordability.
• The important questions to ask before renting a shop and how to look beyond the rent when considering the bigger financial commitment.

It will change the way you look at your numbers and help you make better decisions before you rent that shop, friend!

So you can understand what your business can actually afford and when to make the strategic move.

Hope you are ready?

Grab your favourite drink and notebook; let's get down to business.

Next Steps:

👯Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule and free up time, up to 20 hours per week. Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

💷 Spending Too Much on Bills? Bundle up your household costs and start saving in just a few clicks >> https://bit.ly/Savetimeandmoney

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

Related Episodes:

18 | RENT SHOP SERIES: No Business Plan? 3 Ways to Track Profitability and Financial Budget Using Your Revenue and Expenses (Part 3)

17 | RENT SHOP SERIES: Protect Your Revenue & Work-Life Balance, Mama! 7 Questions You Must Ask Before Signing a Business Property Lease (Part 2)

16 | RENT A SHOP SERIES: Should I Rent a Retail Space? 5 Mistakes to Avoid + Business Plan and Revenue Tips to Save Money (Part 1)

3| Don't Know What to Sell? Simple Business Plan to Clarify Your Ideas and Grow Your Income (Part 2 of 3)

• Do you want to grow your business but don't know how?
• Need help writing a business plan that works for you?
• Still considering renting a shop but worried about getting into debt?
• Do you feel like you've done everything you can, yet nothing seems to be working?

Before you rent that shop or make any more financial commitment, you need to understand what is happening with your money. I know you are busy running the business and working hard. But if you are spending money with no results, you need to stop and look at your numbers!

How do you know if your business is profitable?

Spending money isn’t how you grow your business; knowing your numbers and strategic planning is what you need to grow your business.

If you don't understand profitability or how much profit you need to make to grow your business, you put the business at risk every time you spend money. This keeps you working harder than you should and eventually leads to burnout.

That’s why I recorded this episode: to help you understand your numbers to save you all the hustle.

In today's episode, I am going to walk you through 3 ways your Revenue and Expenses can help you understand your Profitability, plus a practical guide to calculating your business profits. So you can set the right Financial Budget, build a bulletproof business plan, and avoid taking on costly debt.

This is part 3 of the Rent Shop Series.

PODCAST HIGHLIGHTS

• Learn how to do strategic business planning that drives the kind of business growth you wish you had.
• Understand the difference between your Sales Revenue and your Profit.
• Learn how to use your Revenue and Expenses to calculate your Profits, forecast your cash flow, and stay on top of your numbers.
• Understand why tracking your savings and cash reserves helps you make better business decisions.
• A simple way to plug in your business transactions and numbers into your cash flow forecast and create or refine your business plan and financial budget.

If you are having a hard time understanding what goes into your profit and loss account or how to calculate your business profits, you need to hit that play button!

Because you are about to learn what took me 8 years of business studies (accounting and finance) and 15+ years of practical business experience in about 20 minutes.

I am sharing the simple and practical way to determine how much money your business needs to make to grow and how to use your numbers strategically to drive your business forward.

I hope you're ready. Grab your favourite drink and a notebook, and let's get started.

Next Steps:

👯Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule and free up time, up to 20 hours per week. Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

💷 Spending Too Much on Bills? Bundle up your household costs and start saving in just a few clicks >> https://bit.ly/Savetimeandmoney

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

Related Episodes:

17 | RENT SHOP SERIES: Protect Your Revenue & Work-Life Balance, Mama! 7 Questions You Must Ask Before Signing a Business Property Lease (Part 2)

16 | RENT A SHOP SERIES: Should I Rent a Retail Space? 5 Mistakes to Avoid + Business Plan and Revenue Tips to Save Money (Part 1)

4 | Want to Grow Revenue? Niche Down Your Business Ideas and Attract Paying Clients (Part 3 of 3)