You have an idea. You want to know if it’s possible to make the money needed if you take this leap into entrepreneurship. Welcome to the club!
This is the number one fear we hear when we talk to people about starting their own consulting/coaching small business.
It’s human nature to fear the unknown, so we’re taking away the uncertainty for you! We’ve built out a series of templates so you can calculate the possibilities for yourself and map out your dream career!
In this Financial Assessment, within an hour or two, you’ll be able to calculate and identify:
HOW MUCH.
How much you actually need to make to cover your current living expenses/lifestyle.
Please keep in mind that right now you’re likely paying for everything POST taxes – which means, if you can run a number of your living expenses through your business (which you can), you’re essentially reducing the amount you need to make by whatever your tax bracket is. Easiest promotion you’ve ever received!
THE BASICS.
What you’ll sell, what it will cost, what you price it at, and how much time it’ll take to deliver it.
This is important because you need to monitor your time. Right now, the majority of your time is billable. That won’t be the case when you’re an entrepreneur. You will spend a lot of time marketing yourself, selling your services, and building systems (at least until they’re up and running). You need to know how much of your time you have to sell so it can cover your non-billable time as well.
THE ALIGNMENT.
The alignment of your financial needs to hours worked.
There will be plenty of opportunities to play around with your numbers to make sure the hours you want to work align with your financial goals. If they don’t, you have plenty of levers to play with until you get them to align. We’ll also provide a few baseline numbers for your estimates so you’re not entirely guessing.
THE DISCOVERY.
How many discovery calls you’ll need to book the number of clients you need.
You may be fine to get started with your immediate network and the amazing referrals you have lined up. That’s great! And that’s a GREAT place to start. But to ensure you have a viable and sustainable business, you’ll need to expand out of your own network at some point. We’ll help you calculate the numbers needed!
LEAD GENERATION.
Lead generation sources that make the most sense for you and your business.
Not all sources are right for each business. You don’t need to be on every platform and write a book and launch a podcast and speak at 25 places. You can pick what makes the most sense for you!
THE COSTS.
Average startup costs.
There’s often a free way of doing things and a right way of doing things. Sometimes there are free ways that are also right. We’ll give you an average rundown of typical startup costs for a coaching/consulting business so you have these in mind as you’re planning your next steps.
Ok, so this is it. You want to start your own thing. You said you didn’t know how to figure out if you could. This is what you’ve been searching for.
This assessment is an exclusive for our Make Business Personal Accelerator participants! This program is the most comprehensive educational training program for service-based women business owners to launch, reset, realign, or pivot their businesses. New cohorts launch every January, April and September and we have a self-guided option available as well.