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Have you ever gotten on a treadmill, and made it go really fast to see what you can do?
Pretty soon the treadmill is spinning like crazy, and you’re running as fast as possible just to keep up.
Most of us immediately make it slow down, and that’s the end of the story.
But, imagine being trapped on that treadmill and not being able to make it slow down.
Then, you’re stuck running like crazy just to keep up.
If anything goes wrong, you risk falling and getting hurt.
Now, how does this apply to business?
Most of us try to go too fast in our business.
As a result, we build up the expenses for a big business. Then, we’re trapped working like crazy to keep up with those expenses.
If you have a $1M a year painting company, with a 20% net profit margin, that means you have $800K in expenses.
This means that if you miss your goals, and only hit $800k in production, you may not make any money. (This happens more often than you think.)
The pain you feel on the treadmill is because you can barely keep up.
The pain you feel on the business treadmill is because you can barely keep up with the expenses you took on.
But, most painting contractors have never been through this.
They simply don’t know how awful it can be. You don’t want to work your butt off for an entire year, and barely make any money!
I’ve been stuck on that treadmill in my business. So, I’m sending you this email to help you avoid it.
Don’t take business planning lightly because it’s crucial to your success.
On this week’s podcast, I help a painting contractor build out her business plan.
I go through her business plan step-by-step, talk about all the different parts, and how they impact each other.
On the podcast, we talk about:
– The right and wrong ways to set goals for the year.
– What can happen when you set your goals too high.
– The importance of scheduling time to take care of yourself and your family.
– How people perform better when they’re ahead versus when they’re behind.
– How to factor for seasonality in your business plan.
– How to get out of reactive mode, so you can work “on” your business instead of “in” your business.
– And much more.
If you’re thinking about your goals for next year, then you don’t want to miss it.