Ep.2 - Design Your Own Predictable Profit Plan – Part 1 - RJ Lewis

RJ Lewis – Planning Out Loud Show

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The Objectives + Opportunities + Challenges Presented.
In the world of entrepreneurs, we use the words scale and growth a LOT. A word that you probably don't hear nearly as much? Sustainability. This week and next week we're going to explore putting together a plan for predictable income and expenses.
By the end of our time together, you will have the tools that you need to create a budget, set achievable goals, and produce consistent revenue.

🎙 Listen → Apply → Engage

Check.
Understand that when it comes to business, predictable is not at all boring. Creating predictable revenue is exciting because the process of doing so informs key business decisions throughout the year.
One of the things that we noted when we talked about benchmarking in Season 3, Episode 2 was that Strategic benchmarking drives other decisions.

This week we'll explore two key approaches to achieving sustainability quickly:

1. Business in a Box
   
   Copy tried and true processes to ramp up quickly
   
   
   
2. Minimum Viable Product
   
   Implement the barest version of the processes that you need to get started
   

Think.
The research and development of a Business in a Box or MVP strategy should give us ample information to set an expectation regarding business expenses and revenue generation.
The key strategy of designing your predictable profit plan is to work through the process of creating a data-backed budget using

• industry benchmarks,
• internal performance metrics,
• revenue forecasting, &
• expense projections

During segment 2, we're going to take a look at what that looks like, information that will impact your decisions, and relevant software.

Act.
Specific and noteworthy actions here include compiling the relevant reporting data for the plan and using this living document as the basis for your annual action program.

Resources.

1. Worksheets and handouts are in the Agilean Operations Group at ibgr.community
2. Catch the Small and Mighty Summit Replay
3. Season 3. Episode 2 Replay – Benchmarking Comparable Products and Services
   1. Segment 1
   2. Segment 2
   3. Segment 3
   4. Segment 4

Shows.
← Previous show: Listen to Episode 1 – Entrepreneur Resource Management = REAL systems thinking for Smedium Businesses

• In the first episode of Season 4, I had some fun providing an overview of season 4 and talking about some of the reasoning behind the topics we're covering this season. The key takeaway? You'll want to listen in to find out!
  Read the show notes

Next show → : Episode 2 – Design your own predictable profit plan part 2

• Next week on the Planning Out Loud Radio Show with RJ Lewis, we're going to finish up our series on strategic, data-backed planning with a deep dive into goal setting. Objectives, Key Results, and Performance Indicators! Oh MY!

Written by Rahgna J. Lewis
An Army wife and mother of 3 living in the Richmond area of Virginia, USA, RJ is a digital experience strategist.
RJ Lewis Digital is a consultancy that is helping CEOs like you simplify and streamline their business operating system strategy by peeking at the digital systems you use to deliver your programs, communicate with teams, organize workflow, onboard staff and convert lurkers to clients. This agency's specialty is to ALIGN ALL THESE SYSTEMS so you and your company can flourish.
Videos and social media posts are all fun and sexy, but WHAT'S HAPPENING BEHIND THE SCENES IS GONNA MAKE (or break) your company BANK.
Visit justrjlewis.com to learn more about designing a business operating system strategy – an audience-focused digital ecosystem for your business.
Instagram: @talk2rj | Facebook: @RJLewisDigital | LinkedIn: @talk2rj
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