Taking Your Relationship With Money To A New Level
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The goal for week 1 is to help each individual walk away with the knowledge to have conversations about money that you know will add to your bottom line. To do so, you will learn skills such as how to have a money mindset, value-based selling, and being comfortable asking for what you are worth. It is important to know how to build a profitable, sustainable business model where you can pay yourself, know when/how to raise prices, and discount strategically.
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Taking Your Relationship With Money To A New Level
- 3. Powered by Also brought to you by Regional Sponsor
- 4. • committed to focusing on our businesses • keeping an open mind – despite discomfort • willing to share our own experiences • keeping everything we’ve heard confidential Community Ground Rules WE ARE…
- 5. Making money: Know Your Worth Managing money: Understand what worked & what didn’t Internal money: Invest wisely today External money: Find capital for future growth
- 6. “What we believe is what results we get. We never outsell or out-earn our mindset.” 3 Actions To Take Your Relationship With Money To A New Level Biggest business challenge: 45% - IRREGULAR CASH FLOW/INCOME
- 8. Money Mindset: COURAGE 1. Lead from courage 2. Own your expertise 3. Refer out 5. Grow your relationship to your own value and worth. Everyday 4. Ask for referral
- 9. Money-Making
- 10. Money Mindset: LEADERSHIP 1. Pay yourself 2. Know what makes money 3. Let the world know 5. Keep adding value 4. Optimize your time
- 11. Money Mindset: NUMBERS 1. Don’t discount 2. Sell the pie 3. Get a mentor 5. Know your numbers! 4. Ask for the sale
- 12. You don’t need to be fearless to be courageous but don’t let the fear stop you. Pay yourself, manage your time, and expect to get paid for your value. Know your pricing and your numbers. Each week. What Did We Learn?
- 14. QUESTION 1: What can you apply to make the biggest change in your business? LET’S HEAR FROM YOU! QUESTION 2: What best practices have worked for you and why? QUESTION 3: What skill or concept sparked a new idea? EACH TABLE SHARES A SUMMARY.
- 15. YOUR INDIVIDUAL ACTION PLAN HOW are you thinking differently about the money in your business? WHY do you want it? What will this do for your business and why is this important? WHAT did you learn that you’ll implement? 1 goal for next 60 – 90 days. SMART: Specific, Measurable, Attainable, Relevant, Time-bound WHAT Resources do you need? What support is required and where will you access it? WHAT Obstacles might you encounter? How will you address those obstacles? (Action Steps – Tactics)
- 16. • Implement Your Action Plan • Respond to the Money Month Survey • Stay Connected • Thank You to Our Team • Thank You to Our Sponsor • Join our next Money Month Event: • http://www.MoneyMonthAZ.com/events WHAT’S NEXT?
Notas do Editor
- Table Leaders doing light logistics and intros at Tables: Quiet Phones Name Tags Intros at Table WIFI password No formal restroom/ food break in 2 hour session Maybe take a selfie / include social # and @
- :00 - :06 Regional Coordinator (OR Speaker?) Welcome Slide— Welcome – Welcome to Money Month 2.0. I’m ___________ and we’re so glad that you’re here. “Money is the key to growing any business. We need to make it, manage it, find it – whether we’re brand new as a business owner, or a long time business with a growing brand and team. These sessions are all about you and your money: providing tools, sharing best practices, and then taking actions that move you, your business, and your money forward” Option: Quick Intros at your Table: your Name, Business Ask 2 or 3 people to share ‘What brought you here today?’ SHORT MM 2.0 Background/ Context “I’m going to give some quick context about Money Month, acknowledge our Sponsor, review some ground rules and turn things over to our Speaker ______________.” “This is Money Month 2.0. We took feedback from the 2017 AZ Women Business Owner survey and responses from more than 40 events held last year to create Money Month 2.0. This year, there are four weeks of structured events in five regions (West Valley, Mesa, Chandler, Central Phoenix, and North Scottsdale) across the Valley. We strategically brought together the top money experts from all over Arizona to create interactive content tailored to a variety of needs.” Transition ‘Let’s acknowledge the team that has created this session: Regional, Speaker, Table Leaders, Volunteers… and our Sponsor ”
- :06 - :07 Regional Coordinator (OR Speaker?) Money Month 2.0 would not be possible without the generous support of our community. We’re honored to partner with the Chandler Regional Sponsor, ASU Entrepreneurship & Innovation group, to bring you Money Month 2.0! We’re excited to thank our “Powered by” sponsor, National Bank of Arizona, for all of their contributions. We’d also like to thank our other sponsors: The City of Phoenix – Economic Development Finance-Ability And let’s not forget all of the volunteers who are here today to ensure that you get the maximum benefit from Money Month 2.0! If you want to connect with them after the event, you can find their contact information on the resource list included in your packet. Transition “Here are our proposed agreements for today ”
- :07 - :08 Done by Regional or Speaker “I’ll review these quickly… see how they fit for you: We are committed to focusing on our businesses (that’s why you’re here!) We are keeping an open mind – despite discomfort (new ideas can stretch us) We are willing to share our own experiences (not everyone is in the same place) We are keeping everything we’ve heard confidential (what happens in ______ stays in _______ ) Can everyone agree? Your Table Leaders will guide these Ground Rules throughout the session as needed” Transition “Here’s our overall framework for Money Month.”
- :08 - :09 Regional or Speaker “For business owners and professionals to be successful in serving clients, making a difference, and being financially vital – we need to be good with Money. This framework shows the important elements; we’re focusing deeply on one of each of these per week: Making Money– the Mindset to conquer fear, manage your time, know your worth -- it’s about YOU Managing Money—working with financial statements to u/s what’s been working/ not working in the PAST Internal Money—’discovering’ the money inside your business to make decisions about investing wisely TODAY External Money—looking forward – where/ how do you find capital/ funding for growth for the FUTURE” Whether you’re joining us for one week or the full series you’ll get value.” Transition Today is all about ______________. We’re excited to have our Speaker _____________ teach on this topic for the next 30-35 mins, then we’ll have 30+ mins for Table Discussions and report outs , 10-15 mins for Individual Action Plans, and close by _______________. Please help me welcome Speaker ____________________ who is the _________________________ of ___________________”
- :09 - :10 Short, compelling Why : “What we believe is what results we get. We never outsell or out-earn our mindset.” Cost of problem: Per the 2017 survey, irregular cash flow or income are the #1 challenge with 45% of respondents choosing it (Question 37 of survey) Today we are going to learn 3 Actions To Take Your Relationship With Money To A New Level Transition > Remind that we have many skills & tools, but we need to see where we focus our energy to improve then move to worksheet #1
- :10 - :13 Guide attendees to worksheet #1 and ask them to complete the Fear Matrix and the Self-Sabotaging Beliefs Checklist page 1 Allow 2 min
- :14 - :20 After 2 min to complete page 1, ask attendees how they feel, where do they think these fears/beliefs come from? Elaborate on this and encourage attendees to take time to complete page 2 of the worksheet on their own How to improve and overcome fears/beliefs? Lead from courage & power vs. leading from fear & comfort zone Be courageous and willing to be fully known as the expert you are – own it, lead it Be courageous in referring out those who are not a fit for you Be courageous in asking for the referral to serve others (& build a referral network) Be courageous in growing your relationship to your own value and worth everyday As a biz owner, your first responsibility is to SELL your product (vs. marketing) – ask for the sale! Don’t let fear paralyze you, get out of your comfort zone Recognize your expertise Understand where your value-add and what should be referred to others Don’t be afraid to say “no” to a non-ideal client
- :20 - :25 Ask attendees what type of activities make money Ask attendees what type of activities do not make money Guide attendees to worksheet #2 and ask them to complete the Time Management for Money Making Allow 2 min
- :25 - :30 After 2 min to complete worksheet, ask attendees what they have uncovered How to improve? You’re responsible for making your business make money! Pay yourself first, no matter how much it is. Commit to it. Know what makes money (profitability) and cut the rest out of your offerings Market your best offerings only and have a marketing plan don’t wing it Have self-discipline to manage your time around things that make money Think of all the ways you could diversify HOW you can deliver your same offerings Pay Yourself and Set Yourself Up To Grow & Scale: LEADERSHIP
- :30 - :40 Pricing, Packaging, & Numbers: MILLION DOLLAR CEO Know when to raise prices and don’t discount your prices (we’ve got a worksheet to help) Know how to sell the whole pie (bundle) or a piece of the pie (customized) Get a mentor when it comes to scaling, growing, licensing, franchising Know how to give a powerful consultation and ask for the sale Know your numbers! Create a realistic formula to reach your goal Refer to Week 1 Worksheet Pricing Calculation on slide 9
- Speaker concludes :40 - :45 You don’t need to be fearless to be courageous but don’t let the fear stop you. Courageously build up your relationship with yourself and take risks on yourself. Pay yourself, always, and expect to be paid for your value, and own the great solutions you offer because they are needed. Average is over. Solve your customers’ big problem Know your numbers each week. Make soft pitch here for next week’s event
- Speaker starts this :45 - :75 “Let’s take this Education into our Table Discussions. At your Tables, your Table Leader is going to lead 3 questions about application, best practices, and new ideas. You’ll watch time so that everyone gets a chance to share – as a Table, maybe in pairs, and your Table Leader will capture Themes on a Google Doc and share those Themes with the large group.” Transition “Table Leaders – you’ll lead discussions and we’ll want to hear report outs at :xx time (25/30 minutes from when Discussion starts)” show the next slide
- This slide is up during :45 - :75 Discussion; remains up as move into the Table Leader debriefs at :75-:90 Table Leaders pose the 1st question and hear from everyone… Maybe break into pairs or trios for #2 and or #3? Table Leaders capture Themes on Google Doc. #1. What can you apply to make the biggest change in your business? (“In other words, based on the tools, education, stories provided, what can you implement that would help you the most financially in your business now?”) #2. What best practices has worked for you and why? (“You heard a lot of wisdom from Speaker, what else has worked that others can model?” A Best Practice is a principle in business that you can apply / tailor to your specific circumstances. Distinguish from just brainstorming ideas… a Best Practice is tested.) #3. What skill or concept sparked a new idea? (“Sometimes there are things that need research, evaluation, creativity – what new idea got sparked for you?”) Table Leaders’ Google Doc: Tools to Apply to My Business, Best Practices, New Ideas At :75 mins, Speaker call everyone back; Ask the 3-5 Table Leaders to do 2-4 mins of top themes. Transition “Now you’ll have a chance to do the most important thing – plan for how you’ll IMPLEMENT these ideas and best practices.”
- :90 - :105/ :110 Speaker sets up value of Individual Planning “Let’s give you focused 10-12 minutes of quiet individual work to plan. You’ll see the worksheet includes Insights, Skills, Goal, Obstacles, and Tactical next steps. Your Table Leaders are available to support.” Insights: How are you thinking differently about the Money in your business? Skills: What did you learn that you’ll implement? 1 Goal for next 60 – 90 days: WHY do you want it? (‘How will this Goal affect your business financially? Why is it important?) S.M.A.R.T. Goal: Specific, Measurable, Attainable, Relevant, Time-bound Obstacles: What challenges might you encounter? How will you address those?; Action Steps: What are the next tactical steps you will take?; Resources: Need? GETTING SUPPORT: LIST of all PROVIDERS/ VOLUNTEERS/ RESOURCES will be available… Think about format/ structure of Accountability support/ picture of Plan. After 10 minutes, give a 2 minutes warning. At :105, ‘Let’s hear from a few people the highlights of your Action Plan.” OR “Take 5 minutes with a partner and each of you share highlights from your Action Plan” Transition “Let’s start to wrap up.”
- :105 - :115 Final Slide done by Speaker/ Regional Coordinator Encourage people to connect with Accountability Partners in the room – raise hands and find each other. “Thank you all so much for being here. We are making a difference for each of us individually as professionals and business owners… and with our clients, our larger community, our families, and our Valley. We appreciate you all!” Finish formal session 1 to 2 minutes before the advertised time and encourage people to network and connect informally
- End with this slide so folks can take selfies / videos in front of it