Generate Cash Flow with Big Ideas

Generating cash flow is a #1 concern for business owners.  Doing so means coming up with and following through with big ideas.  Unfortunately, it is too common for people to come up with big ideas then fail to follow through with them.

There’s no simple fix to this issue because there are many reasons why you might drop an idea, even a good one.  You might be:

* too busy

* unsure how to  make it happen

* dealing with an idea that’s too

* having an idea that’s too abstract and unclear

* busy with too many other priorities

* forgetting to create deadlines or a sense of urgency

* working without needed support

* facing too many obstacles

* afraid or doubt your ability to see it through

Do you find one of your reasons in any of the categories above?  It may not be exactly as presented but you get the idea. The important thing is to first identify the reason (or excuse) you use to not follow through with a potentially good cash generating idea. Only then can you work on turning things around to make your idea or dream a reality.

Set a Goal

What most of the reasons have in common is that there is no goal for any of them. To generate cash, set a clear, feasible goal.  For example, when an idea is too big it means you haven’t turned it into a workable cash generating goal. If your big idea is to make money from your book that isn’t a tangible goal. However, if you decide to earn $1000 from book sales by June 30th, that is a goal. You break this goal into smaller more manageable steps.

Scrutinize your big idea to determine exactly what it can do to make it into something that generates attention and cash.  Figure out what you need to make the results happen.  Could it be more help those skilled in areas where you’re not so strong?  Do you need to break it down into steps?  Do you need to offload other tasks so that you can make your idea a priority?  Do you need a renewed commitment to reach the goal?

Make it Happen

Following through on your big ideas in order to generate cash mean making daily action a habit. Once you’ve scrutinized and assessed your idea and discovered how to make it more manageable, you can then create an action plan. Decide how much you want to earn from the idea.  Then decide what you need to do every day to achieve your goal.  Small steps lead to big results. Your daily action doesn’t need to be huge, it just needs to happen.   Keep records on how much you earn each day and altogether to see if the big idea is worth repeating or continuing as a part of your business.

Steps to Sustainable Cash Flow

Over the years, I’ve found eight basic steps to generating a sustainable flow of cash in your business.  Some of these include

1. Determine what you will do to make money

3. Develop business systems

5. Establish price structures

7. Convert visitors into buyers

These are not all, but you get the point. Knowing the sgteps will increase your business confidence and aim you towards success. The question I can hear you asking now is, what are the others and how do I so these steps?

You can learn some steps by reading the information in these posts.

You can get a business coach. Successful people have a coach.  Decide to be successful by getting the help you need.

Join the Confidence Cafe.  Get monthly coaching to stay on track and get your questions answered.

Did You Do Money-Making Activities Today?

Getting home this evening after 6 p.m. I stopped to reflect on how many money-making activities I had done today.  The answer is probably why I’m working late tonight.  Today was a day of volunteer work.  Nothing wrong with that.  I find volunteering for worthy causes has its own unique rewards. But one activity led to the next, then the next.  Soon the working day was primarily over, so it’s own to night work again.

I strongly believe any professional entrepreneur needs to be able to account for some activity that took their cash flow in a positive direction, each and everyday.  You wouldn’t have to work all day doing this; just be able to show that you did something towards cash flow.

That could have been creating a new product or service to sell.  Or it could have been implementing a new marketing concept that gets your product or service in front of the right market.  Perhaps you wrote a new blog post that was SEO focused or looked for a joint venture partner to help promote you to a broader audience.

The specific activity isn’t what matters, it’s that you took a step in the right direction.  If you can’t account for a money-making activity today, start adding up how may days go by like that, not doing something to further your money-making goal.  Having many of these days  will add up to a month that doesn’t reach up to your financial goals. The point is, make yourself accountable to do something significant to move towards bringing in cash every workday.  That adds up to success.

So write at least one blog post before turning in for the night – okay?  Just to be accountable, I’m working on a new ebook.