Your Q1 Business Audit- Simple Actionable Steps to give you Clarity
If you missed our BOSS Mastermind™ today, this month was all about auditing our business to make sure we are on track to crush the rest of the year!
Quick Question… When’s the last time you did a true audit of your business?
Here’s the reality- you can’t get to where you want to go if you don’t know where you are now.
Most entrepreneurs don’t take the time to audit their business because they’re scared to know the truth.
The truth can be scary, I get it. But what’s scarier is staying in the same place in my business (and life) without making any improvements.
I don’t know about you… but I’m here to GROW!
Below is a quick business audit to help you determine whats working and what’s not. This is a summary of what we went over LIVE during the mastermind this morning.
*Except those that attended the call were able to take a deep dive in to their specifics and get all their unique questions answered.*
Let’s dive in to some key areas of your business that are essential to audit…
Discover your Revenue Gap
Annual Goal (-) YTD = Revenue Gap → This tells you how much more you need to make to reach your goal before the end of the year!
Asses Expenses
Asses your expense spreadsheet, are you below 20% in total expenses? The lower the better! If you aren’t below 20%, I suggest taking this a step further and analyzing where you are overspending to determine where you need to cut back.
Total YTD Expenses / Revenue= Expense %
Make sure to send your Expenses to your CPA to file your quarterly taxes
Goals Met
Look at your goal list: Check-off any goals you have accomplished! Celebrate your wins!!
Bonus: What helped you reach your goals? Make a list→use these tactics to help you finish off your year strong!
Goals NOT Met
Look at your goal list: Circle any goals you have NOT accomplished!
Evaluate areas you need to improve in order to reach your remaining goals and make the necessary changes to your schedule.
Future Me List™
Are there goals remaining that are no longer a priority or no longer align with your vision for the rest of the year?
Do you have ideas that you want to implement in the future?
WRITE THESE DOWN on your Future Me List™
Schedule Assessment
Are you sticking to your schedule/time blocks?
Is time blocked off each week to tackle your priority and one-off tasks?
What day do you focus on completing your big projects and goals?
What adjustments need to be made to your schedule in order to function better?
Time Suckers
Take a look at how you spend your week, are there items that are sucking up time and energy that can be delegated or removed? (This is personal life as well)
What items need to be done in your business but you HATE doing? Is there a way to delegate or automate?
Make a list of your top 3-5 priorities- delete or delegate tasks that distract you.
Questions to Ask Yourself
What do I need to do to close my Revenue Gap?
What adjustments can I make to keep my Business Expenses on track?
What are 3 things I can do daily to continue making progress with my goals?
What are 3 adjustments can I make to accomplish my remaining goals?
What can I take off my plate now that belongs on my Future Me List™?
What changes do I need to make to my schedule to allow myself to flow without stress daily?
What “Time Suckers” can I eliminate? *Include what needs to be done to eliminate*
What “Time Suckers” can I delegate? *Include who you can delegate this to*
If you’re struggling to implement the right pieces of your business and personal life in order to level up …
I highly suggest you hop on one of our private client coaching calls for FREE! This will give you an opportunity to experience what we do in Burnout to BOSS™ so you can start getting support right away!