How do we exchange value in our world? Everything we do in our lives and businesses is about trade in the end. The producers trade with the users. The teachers trade knowledge. The craftsmen trade their skill. We all have value to give and exchange is how all needs get met. The measure of exchange in our society is money. It is simply the measure that helps keep things even and balances supply with demand. Part of achieving success is generating enough of the measure, money, to purchase the required goods and services to make your dreams come true.
This is true of all dreams. Whether you want to build a multimillion dollar business or feed a town or do both. If you want to surf all day, or create a new business every year, or raise a great family you need the goods and services of others to achieve those things. The more cashflow you can generate, the greater the impact of your dreams. Dream big. And then find ideas to generate the resources.
An early step in success is understanding the capital requirements to achieve your vision and creating a plan to generate it. Cash is king – both in business and in life. Take a moment and a good hard look at what is required to do everything you desire. Don’t settle for what you can afford today. Make that list of everything you desire – if money were no object. Do you have enough revenue in place to achieve that list? If not, it’s time to employ some cashflow strategies.
Here are 5 tips to generate the cashflow required:
- Do your math. Run the numbers. How much does your dream cost? On an annual basis, a monthly basis, a weekly basis, a daily basis.
- Forecast revenue into the future. Given everything you know today what will your revenue by week be for the upcoming year? What are your projected earnings each year for the next 5 years?
- Close the gap. What is the difference and what can you do to close it?
- See yourself living your dream. Release the inner breaks that hold you back by taking time every day to imagine your business and your life when it is perfect. What does it look like when it’s a well running machine that allows everything you desire to be.
- Take action. Get out there and make it happen.
Have a great week.
