One of the big battles many new entrepreneurs face is how to create consistent monthly income. It can certainly be a challenge when you are just starting, which is why I am here to give you an easy avenue to success, creating a monthly plan.
Why are Monthly Plans Vital?
Inconsistent action leads to most entrepreneurs not hitting consistent income for their business. Entrepreneurs end up working around the clock to "get things done," yet this is a great way to not only burn out but to stay inconsistent in their business. Think about it! If you work 20 hours on Monday, do you think you can work another 20 on Tuesday without being miserable? Likely not!
By creating a monthly plan with weekly and daily tasks, you can space out your work into healthy increments that can be completed with your mind, body, and spirit in harmony. Through this consistent action, you will create a rhythm to your business that will lead to prioritization of essential work, the timely completion of tasks, and a beneficial system for both you and your clients.
Utilizing a Quarterly Plan
Creating a quarterly plan and breaking it down into monthly and weekly efforts helps get traction in business building. To do this is simple:
1. Create a Quarterly Plan
First, create a quarterly plan. Uh, Julie…what? I go over all this in my previous blog post, The Importance of Business Planning, so check it out!
2. Determine a Set of Actionable Goals
Next, create a set of actionable business goals to go with that plan. Again, I lay out the details in my previous post on How to Develop an Action Plan with Measurable Goals.
3. Add Income Producing Activities
Income producing activities are actions you can take that lead to income production. Here are a few examples:
- Outreach to potential clients
- Scheduling sales calls
- Writing proposals
- Attending network events
- Designing social media
- Teaching a class
- Giving free demos or consultations
- Creating collaborations
While these actions may not directly create income, they devise a higher income production funnel. Additionally, remember that many of these tasks can be delegated to an assistant if you don’t have time. Much of these efforts only need initial instruction and a little guidance; after, your assistant can produce high yield results.
4. Get Specific with Tasks
Now that you have a plan and a set of goals, you can start breaking them down into smaller actionable steps. Take the time to think about all the little things that need to be done to meet each goal.
Plus, remember that while your paid tasks are vital to getting your monthly income, you also want to include the details into getting more of those in the future. As I said in #3, you want to devise a consistent pipeline of clients or sales to ensure that more income is always coming your way. Therefore, you need to get specific with your income-producing tasks too.
For your tasks, I suggest that you write them down rather than trying to remember a mental list. If some of these actions take extensive or prolonged work, I recommend breaking it down into bite-sized steps that you estimate to take an hour or less. It might take you a week, but it will get done!
5. Devise a Schedule and Calendar
Finally, write out your calendar. Whether with an intentional or ideal calendar, how you organize your tasks is up to you. Now, the key to success is actually sticking to it, so be reasonable with your planning. Make sure you have breaks and plenty of time to accomplish your tasks. If you assign ten 1-hour long tasks a day…it probably isn’t going to get done. Instead, set the amount you can reasonably accomplish with your work, family, and personal schedule.
Go Confidently with Your Monthly Income
Do you struggle to balance life and work? Are you raking in big bucks one month and barely making pennies the next? If you answered yes, I encourage you to book a Discovery Call with me today. I can help you devise a consistent monthly plan to help you get the consistent monthly income you want!