Starting a business means freedom, a chance to develop your niche, and having more control over the money you earn. With this freedom comes the obligation to deal with budgeting issues without the luxury of an accounting department. Here are five useful tips that can help any entrepreneur or solopreneur manage their budget and make it work effectively.
Encourage Subscriptions or Retainers
It can be tough not knowing whether that star client from last month is going to propose another project this month. This uncertainty can put a strain on budgetary planning. Reduce this uncertainty by encouraging your clients to subscribe to your services or put them on a retainer. That way, you will have a clearer idea of how much money you will earn.
Incentivize subscriptions or retainers by offering discounts to clients who opt for this method or giving bonuses like eBooks, free webinars, and discounts for services provided by partners. Many consumers are more interested in a subscription if it carries a discount or offers something of value.
Separate Business and Personal Expenses
One way to avoid a budgetary mess is to separate business and personal expenses. This will make tax time much easier and will eliminate the need to search for papers or documents at the last minute. Have an account strictly for business purposes and use a business credit card for professional expenses only to keep things neat and orderly all year round and especially at tax time.
Keep an Extra Fund for Large Expenses
Many opportunities only come along once. It is important to have the funds available to take advantage of these opportunities, especially if they are potentially game-changing for your business. It could be a conference where you can drum up more clients and raise brand awareness or software that will improve communication with your clients. Putting a little money aside regularly for this fund will ensure you can make the investment when it comes along.
Automate Your Budgeting Tasks
If you are still figuring out your budget and expenses with a pencil and paper, it’s time to get automated. Entering income and expenses into a software accounting program on a daily basis will make budgeting easier and will provide metrics that will help you monitor your business’ growth daily. Getting rid of those notebooks and slips of paper will also make your bookkeeping more efficient.
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Here are my favorite tools that I use everyday. Many of them do contain affiliate links, which means that I will earn a commission if you buy from me, but it does not change the price you pay.
Flawless Followup – All in one software platform that also contains my proprietary Flawless Followup automations. I’ve tried them all and this is by far the best platform when it comes to price, built-in automations and simplicity. It’s also the platform that I will be teaching on and building done-for-you solutions. Full disclosure: I own this company.
https://FlawlessFollowup.com
ClosersCopy – There are many AI (artificial intelligence) tools out there. I’ve tried and used many of them. There are many reasons I prefer ClosersCopy. The mains ones being because of the ability to design custom Frameworks and Workflows that give you greater control than the other programs I use. I do a lot of training and provide a lot of resources for ClosersCopy in my courses. Even if you have other AI tools, I strongly advise you pick up ClosesCopy. As of the time of this post, you can still get ClosersCopy on a one-time purchase and not pay monthly. This is a another huge advantage. This deal can be taken down without notice. Get the special promotion now.
https://zaplink.us/closerscopy
CoachGlue – You need content. CoachGlue offer fantastic content with PLR (Personal License Rights), which means that you are free to use it as your own. You can edit it, put your name on it, sell it as your own, or give it away to build your list. This content is terrific in it’s original format. It also makes for a great starting point when used with AI, such as ClosersCopy. My course AI+PLR: A Love Story shows you exactly how to do it. CoachGlue has a huge library of content. Check out their main website. Their VIP package is one of the best investments you can make.
https://zaplink.us/coachglue
Steve Rosenbaum All Access Courses – I’ve created dozens of courses over the years teaching everything from copywriting to funnel building, course creation and more. My members area is like the “Wikipedia of Marketing Like Steve”. As of the time of this post, the retail value of all these courses is $10,522. But it will go up because I am constantly adding more lessons and courses. I have created a super-low monthly “All Access” membership so that you can get access to everything. This is a special promotion and may be closed without notice. Become a “legacy” member today and you will keep your access as long as you remain a member in good standing.
https://zaplink.us/all-access
Offline Funnel Mastery (OFM) – This is my private, inner-circle membership, and the place that you get the most direct access to me and my wonderful community. It is the longest-running and most successful community of it’s kind. Thousands of members from all over the world have come through my doors and learned my secrets to creating ongoing and everlasting success. Join OFM today.
https://offlinefunnelmastery.com
Canva – The number online graphic design platform. After years of using Photoshop, I nowI design many of my graphics in Canva. I also provide many templates in my courses that are built in Canva. Get a free account today if you don’t already have one.
https://canva.com
Camtasia/Snagit – I’ve owned Camtasia for 15+ years and it is still my “go-to” for video editing. There are many other options and you should use what you are comfortable with. However, I always come back to Camtasia for it’s simplicity and raw power. You can find lots of great templates and videos to help you pump out great videos even if you don’t have a lot of experience. In addition, I may use Snagit more than any other tool on this list (other than Flawless Followup). Snagit is the best tool for screen captures. Most of the on screen images you see in my courses and emails come from Snagit. They are from the same company and can be purchased in a bundle.
https://zaplink.us/camtasia
Pretty Links – Stop posting long, ugly links that look terrible and easily get broken on mobile devices. Even worse, if you are an affiliate and send out a “raw link”, it is easy for somebody to erase your affiliate code and rob you of your commission. The best solution is for you to create your own short link domain like I do with “zaplink.us”. Pretty Links is a WordPress plugin that gives you great control over your links. I use Pretty Links on all my domains and also have my clients use them as well. If they still offer it, I suggest you get a developers license so you can do the same.
https://zaplink.us/prettylink
Deadline Funnel – Urgency is a huge motivator when it comes to converting sales. Nothing is more powerful than a countdown timer on your sales page and in your messaging. You will often see 3X or more sales come through right before the deadline. There are many timers out there. But Deadline Funnel is the best, and so far the only one I see, that automatically coordinates your website with your emails. It also has the best security in place so that people can’t “cheat the system” after the deal expires.
https://zaplink.us/deadline
ThriveThemes – ThriveThemes is the company behind some of the best WordPress themes and tools for marketers. I still use WordPress in my business and for my clients. When I do, I use ThriveThemes. One of the things that I like most about them is that they are marketers first and software developers second. This means that they design tools to meet the needs of marketers and business people like you and me. If you use WordPress, you should be using ThriveThemes. Note: ThriveThemes also does an incredible job of teaching you how to use their tools to be a better marketer. Head over to their site now and check out their blog for some killer content and ideas.
https://zaplink.us/thrive
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Here’s a clever little trick that I teach in my LinkedIn Dominance course to keep your connections invitations pristine Are you keeping your optimizing your invitations sent box? Rumour has it this is one of the areas that LI might look at as part of your SSI score. Let me know what you think of […]
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Please complete the following information each week to keep track of your weekly progress.
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Confused by that headline? Don’t worry it all makes sense once you’ve read this short and powerful post and claimed my free gift buried inside. (Another sales lesson lesson I learned by eating Cracker Jack as a kid 😉). I know a lot of people hate the idea of selling anything. They tell me things […]
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I was recently asked at an event why I am called “The Original Back End Specialist”. If you’re in business or in sales, it’s an important story. It shows the immediate power of differentiating yourself from everybody else. Listen to my story! Transcription: Many of you know that I earned the title of “The Original […]
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Find and Convert More Leads with Better Intel I just got a trial for a very cool tool for LinkedIn lead generation. I also created a series of follow up messages that I’m giving away for free. Watch the video, and download my follow up messages here. Free LeadWorx Trial at: http://zaplink.us/leadworx or click the […]
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SalesCPR Case Study SalesCPR Case Study Video Click Here if you would like to learn about SalesCPR for your company Add Leadifly Quiz Follow up sequence Track visits in pipeline Make a new module linking email to post after course release
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From Nobody to Global Leader I remember the day, November 6, 2011… It was the last day that I woke up with the overwhelming stress, that at that time, was plaguing me every waking moment of every single day. My head was pounding with the agonizing questions: I remember it so well, because it was […]
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I just finished my post. Read it here!
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If you like small business marketing success tips, you’ll love this is incredible case study detailing how a boutique retail shops instantly increased his sales over 900% using an extremely engaging social media marketing strategy: Personality Quizzes. Even I was stunned to see such immediate results, and my client still pays me each and every month […]
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Welcome Plano, Chamber of Commerce friend!
Below are the files I promised you at my recent Plano of Chamber of Commerce presentation. You will find a copy of the slides from my presentation, and link to the digital version of my book “The Back End Blueprint.
Before you download them, I want to tell you about two important upcoming dates:
Tomorrow is the last day to schedule your $50 30 minute discovery meeting with me. After tomorrow, the price goes back up to the regular $500.
Order your Discovery Meeting now.
After I receive notice of your order, I will contact you within 1 business day to schedule a time.
Order Discovery Meeting 2. LinkedIn seems to be on everybody’s mind! I think each and every person I’ve spoken to since the presentation has asked me about LinkedIn. I decided to schedule a free “LinkedIn Success” training webinar for next week to show you how to attract new customers. Register below if you would like to attend.
Register for LinkedIn Webinar
Thank you again. Please bookmark this website or call me at 8888-818-0039 and let me know whenever I can help you “Follow Up Flawlessly!”
Downloads Presentation Slides
Back End Blueprint Book
Udemy Course Command Big Bucks: Personal Branding & Status Growth Hacks
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