Have you ever thought to yourself, “I have everything I need to get my business with my art up and running, but I still need to figure out the best way to put it into action?” Do you have that gut feeling that once you are able to clear a path for yourself to actually do what you need to do, you will be on track to soaring in both profits and bringing your vision into life?
I know I used to feel that way when I started my first business and had a negative revenue stream the first two years, while working non-stop to try to keep the business going. (Not a fun place to be!)
It wasn’t until I learned the value of having a strategy in place for every part of my business, specifically the financial part, that I was able to increase my profit margin by 200%.
I first learned the concept of a business strategy from my mentor, Roger Webster, who built one of the most impressive PR companies in New York City almost completely on his own. When I asked what his secret was to getting so much accomplished in so little time, I expected him to tell me how he managed his time, or his secret for in-person networking. Instead, he told me he insisted on spending 80% of his time on refining his strategy and putting that strategy into action.
It took me a while to understand what in the world he was talking about, and I had him explain to me over and over again- ad nauseum- what he actually did to create such a strategy that worked so well. With his incredible patience and willingness to show me, I saw finally that he was actually working on the craft of a proven strategy other entrepreneurs had used and implementing it into his business, his way.
Roger was a performer, like me- he was a singer and actor, and had done some incredible work on stage here in NYC. He told me, “Alexis, you need to perform this strategy for your business like it’s your best show.” That hit home for me- I finally got what he was doing. And once I started to do it myself, I grew my business to six figures in a matter of a few months.
This was incredible to me because out of all small businesses that open their doors every year in the U.S., 90% are forced to close their doors yearly because they don’t have a strong enough financial plan in place.
Was I tenacious? Heck yeah! But no surprise- as an artist, my tenacity was one of my greatest strengths and something I had tons of practice in. And what I’ve learned over the years is that artists who are struggling every year often fall into that 90% group- the only difference is that artists never give up on their art, which makes us the BEST candidates to have a thriving business that falls into the 10% of those who make it and begin to THRIVE!
Here is what I now know that enabled me to clear that path of negative revenue and quickly, but masterfully, build my business well into six figures:
1. Having a financial strategy that combines my vision for my art, my mission for what I want to offer and an achievable financial goal leads to inevitable positive profit results.
2. Knowing how to put that strategy into action is the real challenge- not the strategy itself.
3. Those businesses that thrive (only 10% out of all small businesses in the U.S. every year) have owners who know how to put a proven financial strategy into action better than anyone else.
I now have a new coach and mentor- Todd Herman- who teaches one of the most undeniably effective strategies for taking your business to the next level of financial growth, and he only reinforces Roger’s approach: the way in which you set up and perform your strategy is the ultimate key to growing a business that has inevitable profit results. (Inevitable is a word Todd uses to describe this approach, and he doesn’t use it lightly either- because it truly works, hands-down.)
Want to know more about how to create a financial strategy using the exact model I used and continue to use daily in my own business? Then CLICK HERE to sign up for my new special Master Class, The Artist’s Organizational Plan To Profits, where I share everything about how to set up the foundation of a financial strategy that will send your business with your art into a new level of development, your way.