It’s not too late to plan an abundant 2024

Today’s post is about my favorite, joy filled part Embodied Business Plan process: financial projections. Really! I’m serious. If are a holistic practitioner and you haven’t done your financial projections for 2024 yet, please read this before you move on with your day.

Financial tracking and projections can be emotional.

They put you in touch with reality. That can be soothing, upsetting, joyful, infuriating…or some lovely nuanced emotional state between.

Those emotions are something I actually want my business development clients to tap into, because they fuel our willingness to stop struggling with old strategies that aren’t working and try something new.

I see many of my clients skipping this process, and missing out on all that, and I get it.

Perhaps one of these reasons for not doing projections of future potential revenue resonates with you:

• This election year will be crazy and planning is a waste of time.
• A stable income is enough for you.
• You struggle to get financial clarity because you never learned basic accounting.
• You only separate business finances from your personal finances at tax time.

You can’t build a future of financial abundance without clarity about your current financial reality. This is the kind of foundational truth the lots of fancy business coaching systems skip over.

It can be humbling, especially for entrepreneurs in the wellness space who do not work within the healthcare and health insurance systems. That’s why financial projections are not the first element of the Embodied Business Plan process.

You can hop into the process effectively, however, if you first ask yourself three vital questions.

1. Do you love what you do?
2. Are you energized and connected to a larger purpose through your work?
3. Do you feel joy when your clients succeed and grow?
4. Do you love setting a positive example for them?

If you answer YES to these questions, inviting modest financial growth into your business through revenue projections is not optional.

Because you are on the right path and the world needs your work.

These questions open access to the joy that is available when you are in touch with why you do what you do. The positive energy that feeds your soul and reminds you of why you started this business in the first place.

A healthy business (and business owner) needs to increase revenue to thrive, but it doesn’t have to be a huge increase! Planning for that every year is a very good habit to get into.

Modest growth not only supports you but also allows for personal growth, health, and quality time with your loved ones. Imagine experiencing a 5% increase in fun, revenue, personal health, and free time with your family in 2024-2025.

Now, imagine three years of a 5% increase in revenue! Slow and steady, unglamorous, moment by moment good business practice in action. When things are getting slightly better all the time, our bodies relax and start to go with the flow, and so does our work.

Modest growth is absolutely achievable with the right plan in place, and a realistic understanding of what “modest growth” means these days.

In the corporate world, growth rates of 10 – 25% used to be considered healthy. That has changed drastically. Now, statistics reveal that in the ten years before COVID, most large companies grew an average 2.8%. Out of the largest 5,000 companies in the world, only 8 reported a growth rate of 10%. 

Download THIS CHART to get started on your holistic service-based business financial projections for 2024. If you fill out this chart starting with current offerings, you can start to get creative with what services and offers you want to add into the mix as you move through the year to meet your goals.

Here’s what you will need to fill out the chart:

• Your monthly average expenses from 2023 (including all yearly expenses divided by 12)

• Your average monthly revenue from the products and services you currently provide.

THIS CHART allows you to plug in any new revenue streams you are dreaming of to see how they affect your overall income, and whether they are worth all the time and energy it will take to create and market them.

I know you can create your own chart. It’s not that complicated. But for those of you who are struggling with time and energy, having that part done so you can just fill in the blanks can make the difference between doing it and not doing it.

And I want you to do it!

Remember, financial projections are all about embodying your business’s potential. They are not just about the numbers.

If you’re considering taking your business to the next level, then you might be interested in joining my upcoming Mastermind Group, opening for registration on March 15th.

This comprehensive program will assist you in crafting an Embodied Business Plan that aligns with your vision, values, and goals, and sets you on the path to financial success.

Let’s make 2024 a year of financial growth and personal fulfillment together!