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How to Increase Your Cash Flow Options: From Needs Probing to Secure Revenue Stream

How to Increase Your Cash Flow Options: From Needs Probing to Secure Revenue Stream

The how, what, when, and why of adding an new offering to bring more cash into your business!

About this EVENT

We have heard time and time again the past few months that adding additional revenue streams could save your business but it is hard to know where to begin!  Join Maura Vella in this Presentation to dive into creating the strategy and projections needed to make a new idea a financial success.

 

In this Presentation you will learn about:

  • Needs probing: Our clients’ needs may have changed over the past six months. How can we leverage this information to make smart financial decisions?
  • ROI (Return on Investment) and ROO (Return on Opportunity). What is the subtle difference between these two metrics, and why it is healthy for you to learn the distinction when you make financial decisions?
  • The importance of tying your projections to tangible goals and how this best practice keeps you in control.

Notes

Questions to ask yourself:

  1. Do you know exactly what each one of your clients want and need in this “new normal?” 
  2. Are you maximizing all of your opportunities and do you know if your offerings are sustainable and scalable?

Purpose of presentation:

  • Explore the methodology of a healthy business
  • Learn how to leverage changing client needs within the fitness industry to make smart financial decisions.
  • Examine the subtle distinction between Return on Investment (ROI) and Return on Opportunity (ROO) to make healthy decisions for your business.
  • Show you some simple ways to look at your numbers

Outcomes:

  • You will gain an understanding why needs probing is crucial to your business
  • You will have tools and insights to understand the strategy behind adding extra offerings/revenue streams to your business
  • You can thoughtfully determine whether your current options are viable for your business in the short and long term

 

FINANCIALS is the ENGINE

GROWTH SIDE

  • Sales
  • Marketing

CAPACITY SIDE

  • Recruiting
  • Leadership

COLLECTIVELY

  • Productivity

 

Needs Probing

Questions to ask…

  • What value do my clients wish to receive right now?
  • What are the next steps to help guide them to receive this value?
  • Am I able to deliver this value to them?

How can I ask?

  • Email survey
  • Face-to-Face
  • Any way you can get in front of them!

 

Once the need has been defined, now what?

  • Is your offering going to be a permanent solution?
  • Is it going to be a temporary fix?
  • How do you know if you should invest into this new revenue stream and if you do, how much should you invest?

 

Break it down

 

ORIGINAL OFFERINGS

  • Am I making money on this?
  • Am I spending more than what I’m making?
  • Am I keeping this part of my biz alive to stay relevant within my community for the long-haul?

 

NEW OFFERINGS

  • Am I making money on this?
  • Am I willing to make some short-term investments to improve the experience for the long-haul?
  • Is this something that I even want to keep for the long-haul?

 

ROI vs ROO

  • Return on Investment  – This metric is used to determine if the amount you’re spending is less than the income you’re bringing in.
  • Return on Opportunity – Takes into account that you may not be profitable right now, you are paving the way for possible future financial gains. 

 

What’s working?

  • What is your break even to make ends meet?
  • What are your revenue streams?
  • Can you leverage?

 

USE THE CASH FLOW PROJECTION TOOLKIT

 

Know your numbers!

  • What is your break even to run monthly?
  • What is your break even to run daily with reduced in-studio capacities?
  • What is your break even to run your virtual classes?
  • Do you have the right mix of classes on your schedule to fit your client needs?
  • Do you have the right amount of classes on your schedule?
  • Does your end of month expenses EXCEED your end of month income?

 


 

Need more help?  Book a call with Maura or email her at maura@cultivateadvisors.com

 

 

Notes

Questions to ask yourself:

  1. Do you know exactly what each one of your clients want and need in this “new normal?” 
  2. Are you maximizing all of your opportunities and do you know if your offerings are sustainable and scalable?

Purpose of presentation:

  • Explore the methodology of a healthy business
  • Learn how to leverage changing client needs within the fitness industry to make smart financial decisions.
  • Examine the subtle distinction between Return on Investment (ROI) and Return on Opportunity (ROO) to make healthy decisions for your business.
  • Show you some simple ways to look at your numbers

Outcomes:

  • You will gain an understanding why needs probing is crucial to your business
  • You will have tools and insights to understand the strategy behind adding extra offerings/revenue streams to your business
  • You can thoughtfully determine whether your current options are viable for your business in the short and long term

 

FINANCIALS is the ENGINE

GROWTH SIDE

  • Sales
  • Marketing

CAPACITY SIDE

  • Recruiting
  • Leadership

COLLECTIVELY

  • Productivity

 

Needs Probing

Questions to ask…

  • What value do my clients wish to receive right now?
  • What are the next steps to help guide them to receive this value?
  • Am I able to deliver this value to them?

How can I ask?

  • Email survey
  • Face-to-Face
  • Any way you can get in front of them!

 

Once the need has been defined, now what?

  • Is your offering going to be a permanent solution?
  • Is it going to be a temporary fix?
  • How do you know if you should invest into this new revenue stream and if you do, how much should you invest?

 

Break it down

 

ORIGINAL OFFERINGS

  • Am I making money on this?
  • Am I spending more than what I’m making?
  • Am I keeping this part of my biz alive to stay relevant within my community for the long-haul?

 

NEW OFFERINGS

  • Am I making money on this?
  • Am I willing to make some short-term investments to improve the experience for the long-haul?
  • Is this something that I even want to keep for the long-haul?

 

ROI vs ROO

  • Return on Investment  – This metric is used to determine if the amount you’re spending is less than the income you’re bringing in.
  • Return on Opportunity – Takes into account that you may not be profitable right now, you are paving the way for possible future financial gains. 

 

What’s working?

  • What is your break even to make ends meet?
  • What are your revenue streams?
  • Can you leverage?

 

USE THE CASH FLOW PROJECTION TOOLKIT

 

Know your numbers!

  • What is your break even to run monthly?
  • What is your break even to run daily with reduced in-studio capacities?
  • What is your break even to run your virtual classes?
  • Do you have the right mix of classes on your schedule to fit your client needs?
  • Do you have the right amount of classes on your schedule?
  • Does your end of month expenses EXCEED your end of month income?

 


 

Need more help?  Book a call with Maura or email her at maura@cultivateadvisors.com

 

 

Cool kids know their numbers! There are many unknowns out there, and many intangible needs and costs associated with our new normal, but the most important question right now is: Do you know your numbers?

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