Are you hosting a special event at your facility this summer? Training for a special event (charity or Spartan race) and registering your members as a team? Hosting a summer camp?
These types of events create extra income in your business, but there is also an added expense. If it’s handled correctly, this can be a profitable event.
However, just like any other “extra” income, if you don’t safeguard it, Parkinson’s Law will apply. The temptation is there to spend it for other purposes before taking the profit or sometimes even paying the expenses.
This is one area we highly suggest an advanced Profit First account. You can name it specifically for the event (Summer Camp, Spartan Race) or maybe it’s more generic – “Events.”
When you start receiving registration payments, those funds are immediately deposited (or transferred from your income account BEFORE allocating) to your Events account. All event-related expenses are paid from this account. Any funds left after the event, can be allocated between profit, tax and owner’s pay. You’ll need to use a different percentage, so it equals 100% to empty the account, but follow the same proportions you use for regular allocations to ensure taxes are covered at the end of the year. Let us know if you need help with this part.
This ensures you are using your members registration fees to pay for the event expenses or the team registration hosted by another organization. These events are great for your community, but they also need to be great for you as the owner and the business. That means they must at least break-even and hopefully create a little bit of a profit for the work you put into organizing your community!
This was written with summer events in mind, but it applies year-round. As soon as you start accepting registrations for any special, irregular event, create an account. Remember, when in doubt, create an account!
If we can help with any questions, please contact us at any time.
If you feel like you spend too much time on email, you’re not alone. Almost everyone feels the same way. That’s why it’s so important to learn how to be as productive as possible when it comes to handling email. Here are five tips to help you do just that.
1- Automate your emails.
If you’re sending a lot of the same emails to clients, you may be able to add them to email list management software like Constant Contact or MailChimp. Then you can automate a series of emails using the autoresponder function.
Another way to automate your emails is to set up inbox rules so that certain emails are automatically filed into the folders you’ve set up. For example, if you get a monthly email for a recurring bill payment, you could send it straight to your bills folder if you don’t want to read it. This will save time in the morning when you sort through the pile of email that’s sent overnight.
2- Set a timer.
Make a habit of checking your email only once or twice in the day. Plan those times on your calendar and set a timer to stop if you need to. This employs time batching, one of the most productive ideas in time management. It’s unproductive to stop and read each email exactly as it comes into your box, so setting times restructures the way you work with email for the better.
3- Create draft email answers of your ten most frequently asked questions.
Do you get a lot of the same questions over and over again in your email? Don’t start from scratch each time you craft an answer. Start with a draft of a previous answer, make it generic, and save it in your drafts folder. When you get that question again, copy and paste the draft and customize it as necessary.
Repeat this for your top ten (or twenty) most-asked questions or emails that you send. You’ll shave minutes off each email reply from now on.
4- Learn the email software you’re using.
Sure, everyone pretty much knows how to send, reply to, and forward emails. Most even know how to add attachments. But what else do you know and use on a regular basis?
If you are tech-savvy, then simply spend some time reviewing your email settings and functions. There may be some you discover that will make your day.
If you don’t feel very comfortable with all things technical, then sign up for a formal course, preferably in person, where you have a real human teacher that can answer all your questions. It will be a day well spent.
5- Set up folders.
Folders, labels, or categories in your email software are all good ways to segment email so that it can be processed in a particular order. Your folders might be by priority, client, service type, or something else. In any case, it’s easier on your brain to answer all questions from one client or topic at a time than it is to ping-pong back and forth.
Use folders when you are complete with an email but want to save it for future reference. That way, your inbox will stay cleaner and emptier.
6- Use the search function.
Using the search function liberally in your email software when you need to find an old email will help you save tons of time.
7- Get a new email address if your current email address is too spammy.
You may be losing the spam battle with email addresses that have been used for more than a few years or that have been hacked. If so, the best solution might just be to switch to a new email.
Choose a good email address in the first place by staying away from email addresses that hackers can guess, like firstname.lastname@example.org, email@example.com, or firstname.lastname@example.org. Instead use email@example.com or a version of your first and last names.
Try these email productivity tips to help you spend less time on email while still getting the job done.
If we can help with any questions, please contact us at any time.
The hardest part of creating a budget is getting started. QuickBooks Online provides tools that can jump-start the process.
You know you should have a budget. You’re aware that it can help you stay on track with your company’s income and expenses throughout the year. Maybe you’ve even tried to make one before, but you got discouraged by the mechanics or by the difficulty of estimating money in and out for the next 12 months.
June may not be the beginning of your fiscal year, but that doesn’t mean you can’t make a serious effort to start building a budget that can help you rein in expenses and set revenue goals.
Here’s a look at QuickBooks Online’s budgeting features.
Creating the Framework
Before you begin, you’ll want to make sure that your fiscal year is set correctly in QuickBooks Online. Click the gear icon in the upper right, then click Your Company | Account and Settings | Advanced. If the First month of fiscal year isn’t correct, click the pencil icon over to the right and change it. Then click Save and exit out of this window.
Click the gear icon again and select Budgeting, then click Add budget in the upper right.
QuickBooks Online asks you the questions that need to be answered before you start filling in your budget grid.
The first thing you’ll do is give your budget a descriptive name by entering it in the Name field. Next, open the drop-down list under Fiscal year and select the correct 12-month period. You can create your budget in one of three intervals: Monthly, Quarterly, or Yearly. If you want to populate your budget with numbers from this year or last, make that selection in the Pre-fill data? field.
There’s one more option at the top of the Budgets Grid screen that’s not shown in the image above. You can Subdivide by Customer, Class, or Location. This can be useful if you want to view budget data specific to a subset of entries in each of those categories. You could, for example, choose three customers and view only their numbers in the grid individually, one at a time.
Providing Your Numbers
Once you’re satisfied with the selections you’ve made, click Create Budget in the lower right. The screen will refresh and display a grid that you can edit.
Let’s say you’re working on a budget for the second half of 2018. QuickBooks Online brought in your numbers for January-May. You see that the numbers don’t vary much from month to month on one specific line item, so you’re going to assume that they will continue to be true (unless you know something that will affect it after May). You could enter a rough average of the first five months in the JUN field.
Hover your cursor over the arrow to the side of that field, and this sentence appears in a small bubble: Click to copy the value across on the row. QuickBooks Online will then enter that number in the JUL through DEC fields.
QuickBooks Online can save you some time as you enter data in your budget grid fields.
When you’re done entering data in all of the fields relevant to your business, click Save in the lower right and close the window. Your budget will now show up in the list.
Tip: If you have multiple blank rows and don’t want them to be displayed, click the gear icon in the upper right corner of your budget page. Click in the box in front of Hide blank rows to create a checkmark.
The Hard Part
QuickBooks Online simplifies the mechanics of creating a budget, but it’s up to you to supply the numbers. There’s lots of common-sense advice that experts offer for this process, like:
• Remember seasonal upswings and downswings.
• Make your goals as realistic as possible. You might want to create separate budgets for “needs” and “wants.”
• Track your expenses carefully for a period of time so you can estimate more confidently.
• Create reports regularly that compare your budget vs actuals.
QuickBooks Online can help you with that last piece of advice; it offers a report called Budget vs. Actuals. You’ll find it in the Business Overview group.
We can help, too. Once we understand a little more about your business structure and goals, we can take a look at your income and expense history and make some personalized recommendations. Connect with us soon, and we can start you on the path to a more focused financial future.
You became a wellness coach because you want to change lives. You want to help people feel better and live better so they, too, can make this world an awesome place. But that’s not going to happen if you don’t have customers to buy the amazing things you have to offer, is it?
As digital Marketing Experts with over 12 years of experience and 100 websites launched, we frequently get new clients who think they “just need more traffic” to increase their sales. While traffic does play a part, the real issue isn’t that they aren’t getting enough visitors… it’s that they aren’t getting those visitors to take action.
And that’s a huge problem!
There’s actually no shortage of leads. You can turn on Facebook, Instagram and pay-per-click ads at any time night or day and get thousands of clicks from your ideal clients in a very short amount of time. But those numbers are worthless if your messaging doesn’t resonate with your target audience.
Here’s how it typically plays out…
Bob is tired all the time and needs to boost his energy. As a wellness coach, you are familiar with his struggle and you have a great program that can help Bob sleep better, improve his diet, increase his fitness and feel rested.
You’re a perfect match!
Bob stumbles across a Facebook ad for your program one evening, pauses to read it and then scrolls right on past without clicking.
What the heck?
Bob NEEDS your program!
You were made for each other!
Why isn’t he clicking?
Bob, like most consumers, is an emotional buyer. Sure, he needs to solve his energy problem, but he’s not actually aware that he has an energy problem.
What Bob wants is to be more focused at work. He wants to be more active and engaged in his social groups. He wants to spend more time with his kids instead of crashing on the couch with the remote every evening. Bob is frustrated. He’s looking to resolve emotional pain.
He doesn’t think a “sleep program” is what he needs. Your product may be exactly what Bob needs, but the copy doesn’t connect with Bob where he’s at right this moment.
What he needs and what he wants are two different things. Bob NEEDS to sleep better and eat healthier, but what he WANTS is to have more energy to play with his kids.
Eventually, Bob may understand how your program will help him, but right now his mind is focused on his emotional pain. He’s not making the connection between his pain and your program.
You must offer Bob what he WANTS, not what he NEEDS in order to help him solve his problem.
This is the number one reason health, fitness, nutrition and wellness coaches struggle to get new clients.
Their messaging is emotionally disconnected!
So here’s what you need to do to bridge that gap.
The first step is to build an ideal customer profile. Now you’re probably thinking, “Hold it right there… I’ve gone through an ideal customer avatar exercise and I have a niche, but I’m still struggling so it can’t really be that easy.”
First, let me say that having a niche and identifying your customer is critical to dominating your market. So kudos to you for already achieving that step. What we’ve found from working with wellness entrepreneurs is that many of them are just barely scratching the surface of who their client is and what they truly need. They don’t go into the deeper work. The work that actually drives the revenue.
So let’s dive in.
Take a look at your most profitable product or service and ask yourself these 3 questions:
What specific problem(s) is your ideal customer trying to solve?
What are their actual pain points? What keeps them up at night? What does their life look like now and what do they want it to look like in the future? Describe the before and after they will experience. Include all of the physical benefits as well as emotional ones. Your customer likely has multiple issues that can be resolved with a single solution. Don’t be too clinical when answering this question. Use the words your client’s speak when describing their problems.
What emotions are driving your ideal customer to take action?
In the wellness and nutrition space, a buying decision is almost always driven by pain. Your client wants to lose weight, have more energy or manage an illness or physical problem. What pain are they currently feeling that is pushing them to seek out relief? Even in the case of physical pain, there is an emotion behind it. Is it frustration? Shame? Anger? Sadness? List as many emotional drivers as possible.
Why is your product or service the best solution for your ideal customer?
People are motivated by either pain or pleasure. They want to move away from pain and towards pleasure. When describing your product or service, you’ll naturally include all the features. But you also need to point out all of the emotional benefits. Describe what your customer’s life will look and feel like after they use the product or complete the program. Use words, imagery and colors that paint a picture or conjure up pleasant emotions such as happiness or relief. Talk about all the things they will be able to do that they couldn’t do before. Your customer isn’t looking to buy your product, they are looking to buying their future self. Help them imagine what that looks and feels like!
Now let’s go back and see how Bob reacts to a new ad, one that appeals to his emotional state…
Bob is lying on the couch, surfing Facebook on a typical Thursday night. He runs across your ad which shows a young father tossing a ball in a park with his kids. The image instantly grabs Bob’s attention because he wants that experience for himself. He starts to read the copy and sees that this program can help him create the life he wants.
The imagery on your site draws him in and as he reads the copy, he starts to imagine himself in that photo, tossing that ball with his kids in the park. He nods his head as he reads the benefits and begins to picture his future self after completing your program.
He WANTS that life.
Without hesitation, he makes the purchase.
You have a new lifelong customer.
And it’s not because you sold Bob on something or manipulated his buying decision just to make a few bucks. You gained a life-long customer because you helped Bob see the amazing things he can achieve with the help of your product or service. You’ve awakened his mindset to the possibilities.
You’ve changed Bob’s life, simply by changing the way you connected with him on your website.
Tired of battling food allergies, Gretchen Cawthon became interested in fitness and nutrition to improve her health. Combining her technical expertise with her desire to see others embark on their own journey toward better health, she coaches nutrition and wellness professionals on how to attract new clients make more money, grow their following, and get their time back. Gretchen is an active Taekwondo student and also believes you can make anything out of LEGO bricks. You can find her online at Left Right Labs (https://leftrightlabs.com).
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