How To Create Fluid and Reliable Cashflow

How To Create Reliable Cashflow

Hello hello and welcome to this week’s blog.  I’m Vicky Murgatroyd from Life Empowerment project and this week I am super excited to delivering you a question that was asked in our Facebook group.  So in the transformation space for fierce, female entrepreneurs, then we often have the question answer sessions and one of the ladies put to us an awesome question that I thought would be super relevant to you guys here on the blog. So that question was ‘How can I stop cash flow from being lumpy and unpredictable?’  Now I know from my personal experience when I first started out with business, that was definitely the case and it creates way too much uncertainty, way too much unreliability for you to really feel comfortable and for you to be completely certain in the business and its ability to work and support you.     So to create cash flow that is fluid and predictable is absolutely essential, is exactly what we’re going to be going through today.

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So if you want to create cash flow that is fluid and predictable you’ve got two basic elements.  Marketing and model.  So the two M’s here. Marketing is obviously what is going to bring people to your model.  So we’ll go over model after we’ve gone over marketing.

Marketing: basically you need to be specific on your niche.  Who is it that you serve?  How do you help and what problem do you solve.  One reason and one reason alone for this; when somebody lands on your website and you’re super specific about who you serve, how you serve and how you help, basically is what they do is they read the copy and if they are your ideal client, they’re ticking all the boxes, this is for me, she’s talking directly to me, she knows what she’s talking about, she has the answer to my problems.  Win win win.

You’re going to get to show your expertise and you get to help out massively.  Otherwise you tend to get people landing on your website; it’s a confused message, it’s a little bit all over the place.  As soon as there confusion people disappear.  So you want to be super specific in your targeting of who you serve and that will allow you to relate all of your marketing to solving their problem.  So again, every time that they see your stuff, you’re connecting with them in some way; you’re answering some level of problem etc.  As soon as you rise to that level of answering people’s problems you build leadership, authority, trust in that space, you’ll never be short of clients.

You prove your value, you prove your usefulness by answering those certain number of problems for that certain, specific group of people.

Marketing 101.

So really simple but absolutely overlooked so much of the time.  Soon as you try to serve everybody you end up serving nobody.  Niche down, get specific.  So as soon as you’ve got super specific on who you’re serving and how you help them then all of your copy on your website, all of your marketing in terms of your freebies you’re putting out there, in terms of your paid products etc. can be targeted specifically to those people.  Solving their specific problems.  That makes bringing clients through the door very easy because you’re the expert who has the answer to their problem.  Super simple.  So that’s how to nail your marketing and really attract in those right people.  So you’ve got to get specific on who you serve, how you serve, what problems you solve and what solutions they leave with and then your marketing will all be built around those exact issues.

Then its time to get into the model because if you’ve got people flooding through the door, but you’ve got no way to serve them to the best of your ability, then it’s a lost game.  So the two elements really go hand in hand.

The marketing fills up the model but the model has to be stable enough to be able to hold all the people that you’re attracting.  So basically with your model you want a systemised approach.

When I first started coaching I would take people for a session here and there and they would come and book in and you know, dip their toe in the water and then very quickly we moved into a model that basically said ‘You come in for an initial session, which was paid.’

Now I do the initial consult, we do short sessions, just for free in order for us to really establish that rapport and things like that.

But initially it was a paid session, you would come in, we would do the session and then I would recommend basically the best course of action for you would be either a six session block or a twelve session block.  Obviously the longer somebody books in for, the more incentive you give them in terms of a slightly lower rate per week or whatever and then that’s literally just booked in calendar for those twelve or six weeks and so are the payments.  So therefore your cash flow is predictable.

The same goes if you’re doing any service based business and you’re kind of allowing people to utilise your services here there and everywhere, it needs to be systemised.  Now there’s two reasons for this. A. it gives the client absolute certainty in terms of when they’re buying your service.  Nobody wants to hear ‘Oh we might be able to solve this in an hour a week or a single session or it might be different, it just depends on what you need.’  No.  Absolutely not.  Because the client is going to be in a state of uncertainty, you need to be their leader.  You need to be establishing complete control over the situation and give them your presence in order to make them feel certain.

So on the opposite end of that you have the structured model.  So say for instance when we moved into our blocks of sessions, when I was still working in clinic, the somebody would come in, we would recommend what would be most fitting for them, whether it be a six session or  a twelves session package and that would be signed and sealed then and there.  So this works twofold.  Number one it gives the client complete certainty, it gives you the ability to be the leader in that situation; ease their concern, tell them exactly how the process is going to run and secondly it allows your cash flow to be predictable because you know that those sessions are booked in.  Now you can offer a discount for an upfront payment, that’s the standard or you can book that in for a payment plan, therefore making your cash flow predictable over the next six or twelve weeks and the same goes as you build more clients into those slots.  You can see into the future and know exactly what money you guys are going to be bringing in.

Now you need to do the same in your business.  How can you create a completely streamlined process of how people work with you and stick with it.  The temptation was when we first started in working, in terms of groups of sessions for instance, because this was my first step instead of working on an hourly rate kind of thing, the temptation is when somebody says to you ‘Oh but I’m not sure about that, maybe if I could just do one session and see how I go?’ That’s where your leadership comes in.  Your certainty has to override their doubt and uncertainty in that situation.  So it’s a great chance for you to grow, it’s also a great chance for you to establish your business  in a way that’s going to create that certainty, that predictability and the beauty of cash flow for you.

Let’s recap.  Basically two elements in order for you to create fluid and predictable cash flow.  Your model- how people work with you and what the charges are for that and then obviously you can work out your full figure of what you want to earn for the year or for the quarter, reverse engineer that back to how many clients you need to fill that quota.  Easy.  And then how you fill that quota is your marketing.  So niching down, getting super specific on who you serve, how you serve, what problems you solve and making sure that everything about your business reflects that fully, so that when people land on anything that you’ve created, they know exactly if it’s for them or if it’s not for them.  So you’re completely attracting and talking directly to your ideal client and nobody else.  So not only does it make cash flow fluid and predictable, it also makes business a hell of a lot more enjoyable.  There’s a lot less guesswork on your part, meaning that you save time and you get to work with people who are your ideal clients.  Which is making business a lot more enjoyable than just working with everybody across the board.

A super quick run through today, how to make sure cash flow is fluid and predictable.  As I said this question came from somebody in our Facebook group, the transformation space for fierce, female entrepreneurs.

If that is you and you’d love to get some more support in business, join the group we give loads of advice, make amazing connections, coz that’s what it’s all about; helping each other, collaborating and lifting each other up seeing each other succeed.  I would love to see you there and I would love to see you on next week’s blog.

In the meantime live empowered and be inspired.

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