Time is running outDec 31, 2017
Welcome to this episode. I’m Tom Koster and today we’re going to talk about results and basically results take as long as they take. What do I mean with that? In my coaching practice, I meat a lot of young ambitious people and these young ambitious people have very big goals. But the reality is that often times that time gets in the way. Meaning, it takes longer to achieve the goals that they set for themselves and for their business than they thought it would take. And the challenge with that is the fact that the cost of living, the cost of doing business is not slowing down.
It means that, if I look at my business, if I don’t make enough money this week, this month, this year, it’s very hard to make profit because my costs are fixed. Basically, I know what my costs are from the last year, and also for the new year. But if I do not make enough money, it’s very challenging to pay the cost that I have. So I’m very eager to help clients with their marketing with their sales, with their business growth, and for that I send them an invoice with my billable hours, and they pay me for that.
Now if it takes too long for me to send the invoice to my clients, then the cost in that month or in that quarter, will be higher than my growth sales, than my turnover. Then I will have a negative cash flow and eventually negative cashflow will kill your business. So if you have faith in yourself, if you have faith in your business, and it isn’t growing as fast as you thought it would be, you have two choices. One is to walk away and be ashamed and tell yourself that you’re a failure and go work for someone else. And the other better way is to keep on doing what you’re doing and find a way to make money on the side. Meaning, you keep your business. You keep what you were doing. You invest in yourself. You invest in your knowledge, and you learn about marketing and sales and you learn how you can attract more clients. And you learn how you can be of more benefits to your current clients, so they pay you more money, after you’ve asked for that of course.
Besides that, you find a way to make money, working for someone else. So not working only in your own business and just waiting until finally the day is there that you make a positive cash flow in that month or in that quarter. When you don’t have time to have work done, billable work done for your clients, then you have time to find new clients, that’s one, and you have time to do other work. So my suggestion is you keep your business. You keep what you are doing and you realistically see how you can make money working for some one else, maybe waiting tables, doing production work in a factory, or doing cleaning work or basically not that difficult work. Or maybe administrative work for someone else so your positive cash flow will be there as fast as you can.
That’s part of your schedule, your week schedule. So part of your week schedule is to make sure you have positive cash flow coming in from the work you do for someone else as well as work you do for yourself. And when you have that mindset, then it is no problem that you have money on the side working for someone else and at the same time, you build your business, you build your dream. Then in one, two, three years it can all change and you’re able to go in full time. Okay, so it’s no problem to start part time doing your business although your intention is to do it full time. But if your gross sales and the amount of money you make do not justify, at this moment, that you go in full time, it’s no problem, do it part time and you build from there.
And you study marketing, you study sales. You login to the membership site that I have at tomkoster.mykajabi.com and you study sales and you study marketing. And I assume that you are a member of my program. If you are not, then I have an offer for you to join and in my coaching program, in my membership site, I have modules about sales, I have modules about marketing and I also offer coaching. I offer coaching for millennials and up in age to help them build their business. But I also know that a lot of people, especially millennials, have this vision, have this dream of building a business but for a lot of these people, the time is running out too fast and the cost is going on and the growth of the business is not taking place as soon as they thought the business would grow or as soon as they wish that the business would grow.
With this, I end this information session. I’m here to help you increasing your income.
Have a great day.
Bye for now.