Question: “Ali, how do you balance the delivery of services that create income right now with the actions necessary to build new sources of income for the future?”—Jennifer Truesdale, Jennie Deva Voice Studios, Boston, Mass.
Ali’s Answer: “Hi Jennifer and thanks for writing. Your question revolves around a common dilemma for many business owners. You have long-term dreams, but you need short-term cash flow! It’s a balancing act that the biggest and the best entrepreneurs still have to manage every day. The bottom line is if you are not making enough money to support yourself and your business right now, you’re in a phase we call Foundation. If you are easily supporting yourself and your business right now, you’re in what we call Expansion.I first developed these labels with the head coach of my Platinum tier of the Millionaire Protege Club, James Roche. We saw business owners getting very confused on where to focus first and they were all over the place. Business owners in Foundation need to focus on completely different strategies than those in Expansion.
For this example’s sake, let’s assume you’re in Foundation. (Remember this has NOTHING to do with how long you’ve been in business or in your industry. This is about the CURRENT STATE of your business. Whenever I start a new arm of my business or a new business, I am in Foundation too!) If you are in Foundation you need to focus more on short-term cashflow than on long-term goals. If I were to work with you personally the first things I’d have you focus on would be systems for bringing in and keeping clients, ways to charge more for what you offer, and ways to leverage what you have for more money in less time. Once you break out of Foundation into Expansion (something we celebrate in Platinum!), you’re ready to look at adding some juicy long-term goals for your business and life.
Also, I took a peek at your website over lunch and it was hard for me to get a FAST grasp on all you offer. Make your navigation clearer and choices easier to find! I hope that gets you pointed in the right direction!”
Love and success,
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