I DARE YOU to do this one thing before 2019!
If you aren’t planning 2019, who is?
One of the really challenging things about being an independent #eventprof is having to be in charge of our destiny (which, of course, is a blessing AND a curse!). Unlike corporate America, we don’t have a boss handing us a to-do list that involves executing some business someone else already secured.
That’s why we’re called Event Hustlers.
We hustle for the new clients, new opportunities, and new challenges. We are in charge of event planning, but also sales, marketing, branding, business development, finances… you know – everything.
So if you aren’t already taking your plan for 2019 very seriously, let this be your encouragement to push past all the stuff you have on your to-do list today – and make the time to set yourself up for success tomorrow.
Let’s start this conversation with a frank acknowledgment that you’re really busy. I’m just tossing it out there. You’re really busy. I’m really busy. There’s always a lot to do. I get it, but it’s not an excuse – we all have the same # of hours in the day so if you need to change things up so you have more time to focus on the REALLY IMPORTANT thing I’m daring you to do below, now is a great time to mix things up!
Okay – now that we got that excuse out of the way. Here is the one thing I DARE YOU TO DO BEFORE 2019 so you can survive, but more importantly, GROW!
PROJECT YOUR SUCCESS FOR 2019
Anyone who knows me well will tell you that I’m a very practical person – like TOO practical. (This is why I can’t play imaginary princess with my niece or watch Lord of the Rings, but that’s another story for another day.)
I don’t believe in just wishing for great success. I believe you have to plan for it. One of the things I started doing a few years ago that has been business-changing for me is writing out my projections for the coming year. This is the scariest activity I do all year (yes – even scarier than taxes!) because it calls my business to reality. If you don’t know your numbers really well, building your business is never going to happen. You don’t know when to expect revenue, where to cut your expenses, or how to fill in the gaps that are inevitable.
This is a project we do together in the Ignite program because it is critical to taking control of your business and seeing opportunities.
Basically all you need to do is create an excel document that outlines all of your projected revenue and expenses for 2019, month by month. If a client has an event in September, but pays you in January, May and August, the revenue goes in those months. If you have ongoing or one-off expenses, they go in the appropriate places too. I start with all the confirmed business for 2019 (contracts already in place) and then add in potential business like returning clients who have not yet booked me officially, proposals I plan to write, new projects I hope to launch etc. I like to highlight the difference between reality and hopes too, just so I can see where things land.
The first time you do this activity, you may find it daunting. It might take some time. It will definitely be scary. What you’re going to see are gaps where you have no revenue. Times where your expenses are WAY HIGHER than your revenue. You may even see a LOT of expenses, and not much in the way of revenue at all. This is where that scary feeling kicks in.
But it’s only when you face the reality of your business that you can work to grow it. What new things can you launch, new clients can you pitch, new projects can you start, that would fill in those gaps?
Once you’ve taken the time to do this activity, refine it as you go along. Fill in the blanks, cancel services you don’t need. See where you can invest your time and money into changing the game for your future.
If this all seems too confusing, check out this template that I use for my own projection tracking, and reach out to me if you want some one-on-one consulting time to help you figure this all out. Investing in this process is going to open so many new doors for you and I can’t wait to see where you’ll be in 2019 when you PLAN FOR IT!
Once you’ve finished this activity, I want to know what you found. Leave a comment below and let me know how it went, what you learned and what you’ll do differently in 2019 because of it.
I DARE YOU!
If you’re ready to take action on these items and could use some help, there are a few ways I support entrepreneurs like you!
- FREE PODCASTS: The “I’ve Been Thinking” podcast is a 3-5 min. series I’ve been doing to inspire you in your thinking as an event business owner. You can listen at the gym, in the car, or anywhere you have some time to challenge your thinking about your business!
- MEETUPS: Sometimes you need to get out of your office and swap war stories with other independent planners who are going through the same things. I’ve found there aren’t many resources for independent event planners so I created a space for us to get the networking we need – planners only so you won’t spend your night being pitched by vendors. Instead – you’ll be able to share war stories and best practices that arm you for success.
- DEFINE YOUR BRILLIANCE: One of the things I’ve noticed is that so many independent event planners have a hard time defining their unique value. And if they know what it is, they’re scared of “niche”ing. But this step is SO CRITICAL to growing your business. In this one-on-one short consulting, we’ll work together to find YOUR brilliance – so you can see the ripple effects of defining your value throughout your entire business.
- IGNITE: If you’re ready to really dive in and uplevel, this year-long mentorship and consulting program is a life-changer. The eventprofs who have been through this course have seen a dramatic difference in their perception of their businesses, but more importantly, so have their clients. We work on defining your brand, up-leveling your business, raising your prices, finding the right clients and bringing in more revenue by leveraging thought leadership. This takes you from the roller coaster of entrepreneurship and puts you on the path towards sustainable revenue and a growing business.