CashFlow, GooRoos and My First Post on Medium WPCP: 097
In the last solo show I recorded I talked about what I would do different if I were starting my business today. I had also done a similar episode in the very early stages of the podcast (that's the beauty of this type of content, it's always relevant, even though certain elements may change). The one thing I don't think I talked much about (that's my brain for you)... was cashflow.
Not from the basic accounting side of things, because I think we all get that concept.
More about what you can do to keep if flowing and why it should be your absolute first priority... yes, even before doing the things you "want" to do.
Which is a tough one for this chick. Remember, one of my motto's is "If it's not fun, I'm not doing it".
But guess what?
Earning money IS fun... and creating cashflow in your business can fuel you to pursue more of your passions.
Here's where the GooRoo's go wrong... (and I have to credit Ben Settle with the 'gooroo' thing... I'm a fan of Ben's work and subscriber of his Email Players newsletter... and would LOVE to have him on the show. But that's another episode).
Having been in this business for a while now, I've seen a boat load of product launches, huge courses and high end masterminds (I've invested in all of them). What you DON'T see very often is the one thing that will help you get closer to being able to invest in all of those things. Creating consistent cashflow in your business.
Because it's not super sexy and most people don't focus on what they need (what would really solve their problems), they focus on what they WANT. And gooroo's and marketers alike know this. But that's where the magic really starts to happen. When you can give someone what they want while solving what they need, it's a win-win, isn't it?
Here's what I wish I had grasped early on.
Get the cashflow set up FIRST, then pursue the fun stuff... the passion projects... whatever you want.
Not that I necessarily would have listened. :-) I can be a little stubborn at times... but eventually I come around (ever wonder at what point we stop learning things the hard way?).
When the money obstacle is removed (meaning you can cover all your expenses and still have the quality of life you want), you're in a completely different mental space to produce the things that make your heart sing.
Before we move onto gooroos, let's talk a bit about what you can do to get the cash flowing.
And I'm going to be a little firm with you here... but trust that it's coming from the right place, O.K.,?
Please don't start with a bunch of "yeah, but..." reasons as to why you can't/don't/won't take the steps to get cash flowing in your business. Been there, done that. And it's bullshit. You absolutely can get these things going.
And I get it that there are a lot of different types of business models out there, but you'd be hard pressed to find one of these things below that doesn't apply or can't be implemented in your business. Even it if requires a few tweaks. I'm simply going to bullet point them here but go into more detail in the podcast itself.
Do all of these take time?
But the time is going to pass whether you implement these things or not.
I have a friend who used to think of affiliate marketing from the perspective of "yea, but the money doesn't come in for at least 30 days". True. But in 30 days from now that is going to make a difference, right?
It makes me cringe a bit when I think of the amount of affiliate income that I've left on the table over the past 8 years.
It was that old, tired story of not wanting to offend anyone or seem cheesy because I was promoting affiliate offers. WTF?!
And all of this can be chalked up to perception.
Most people are too busy thinking about themselves to worry about what you're doing.
Moving onto GooRoos
The second I saw Ben Settle write that I was hooked.