Business Coach Diaries

Real stories from real Business Coaches

Jingle All The Way…! Into Bankrupsy…

We are currently in the season that is commonly known as “The Holiplagues” which is a combination of the words “Holiday” and “Plagues”. The reason for this is because most small business owners decide to decrease the time they are working and increase the amount they are spending. This causes an issue with everybody’s bank accounts because, if you are spending more and making less, you typically don’t have nearly as much money as you typically would. Being an entrepreneur is a huge commitment that you have to be willing to stick with for at least 10 years. As entrepreneurs or a business coach, we can’t act like consumers and expect our business to survive. We have to be entrepreneurs and follow these three rules.

You have to stick to your schedule business coach. Every day, we follow our schedule to a “T”. We do the same thing every day and we make a lot of money because of it. When the holidays come around, you have to stick to that schedule unless you want to repel money or not see your family for the entire season. As soon as you begin to take off weeks because “everyone else is doing it” or because you “want to see distant relatives” then you will lose. You have to commit to your schedule for 10 years and set everyone’s expectations for that if you want to achieve success in business. Consistency is key and as soon as you stop being consistent, your bank account will feel it and so will your family.

During the Holiplagues, we tend to look at our budget and say, “Oh what the heck… It’s the holidays. Why don’t we just go for it and buy that crazy thing that we don’t need for our children so that we can impress people we don’t know and don’t care.” Maybe we don’t say those exact words but actions speak louder.  If you are proactive and stick to your budget you can enjoy the holidays without having to tell your children that their new home is located on the corner of 21st and Lewis in the finest cardboard box you could find from the nearest dumpster. One way to do this is to sign up for a cashback credit card like the Chase Freedom Unlimited Card or Discover IT Card and receive up to 5% cash back for every purchase. My wife and I have implemented this move thanks to business coach Clay Clark and we found ourselves with $1,400 in cashback that we were able to use for Christmas shopping. These rewards came from regular purchases that we made throughout the entire year. If you are diligent, pay off your card, and review your finances weekly, you will be rewarded with cashback and a great Christmas that you did not spend a dime on.

 

Consistency is key and as soon as you stop being consistent, your bank account will feel it and so will your family.

 

The last thing we need to realize is that this should be the best time of the year for all business owners in regards to sales. During the holidays, people are far more apt to spend their hard-earned money on things they typically would not buy. This means that your chance for customers to try your product or service is far greater than if it was the middle of June. You have to look at this as an opportunity and not as a negative cloud that will float over your business for two whole months. It is a cloud of prosperity that you have to grab ahold of and make money with. It all has to do with your mindset. Turn this Holiplague season into a profitable season and use that money as a tool to achieve your goals. If you stick to your business coach schedule, stick to your family’s budget, and work harder this season than you would during the rest of the year, you will have a prosperous season without the stress of wondering if you will go bankrupt from lack of sales.

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Business Coach | Coach Name

Andrew B.

Andrew B. currently holds the record for the youngest business coach on the Thrivetime Show business coaching team (he looks like he's 12 years old). But don't let his boyish looks fool you. He is married, currently owns a rental property and saves 35% of his income.

Read More from Andrew B. »

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