Can you believe we’re getting close to the end of the year!? As entrepreneurs and business leaders that means you’ve (probably!) already started planning and looking ahead to next year. But, before you start planning away, have you done a small business revenue check in lately?
Most likely you have multiple streams of revenue for your business and organization. And you hopefully know which of these streams bring you the most revenue. But, have you stopped to ask yourself which services, products or offerings make you the happiest? Which ones not only fill your sales funnel, but also fill you up—which ones you enjoy the most? Which ones take the most amount of your and/or your staff’s time? Are they all worth it? Could it be time to change things up in the new year?
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To make it easy for you, we’ve created an easy business check-in worksheet! This worksheet will give you a quick overview of your business streams in a way that outlines your revenue, your time and, sometimes most important, your energy. The worksheet doesn’t lie!
So, what will you be changing in the new year!?
How It Works
1. Follow the directions for each of the columns on the worksheet. You can list all existing revenue streams, as well as potentials.
2. Very quickly, with just a gut check, fill out the Sales, Time and Energy portions for each revenue stream. Remember, this is a quick check-in. You should not need to refer to your P&L’s, budget statements, time sheets, etc. Just go with your gut feeling.
3. Once you’ve completed the chart for all streams of revenue, go back and reflect on what and how you filled things out. A first check will be the sales column. What revenue streams do not bring in a lot of money? Did the same stream take up a lot of time or get an unhappy face? If so, delete it. What are the revenue streams that scored higher in the sales column? Do those streams take up a lot of time? Do they make your energy levels positive? Is this service or product what you want to be known for?
4. Go through each revenue stream and see which ones make your the most sales, take the least amount of time and/or make you the happiest. Start with those. Try to weed out 2-3 revenue streams or services that could be cut in order to make room for something new.
5. Remember, this small business revenue check in sheet is meant to be used as just a quick reference. You can determine how you want to proceed once you have your answers and take a look at yours sales, time and energy columns.
Kim is the owner and publisher of Sass Magazine, as well as the owner of Sass Studios, a boutique graphic design studio in Frederick, MD. When not in the office, Kim can be found doing some of her favorite hobbies—reading a book, dancing, traveling, or playing with her rescued pitbull.
What do you think?