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PlanIt Biz Success

Welcome to the Planitbiz Success Blog. You can find information here about planning and running a successful business, and much more!

Which road to take?

Which road to take?

Your turnover is OK and your customers are happy and keep coming back, but you still feel less than excited about your business.  It’s not that you have lost you passion, you just have less motivation than you used to or feel you should.  Many people in business today are women and they are juggling.  They are still expected (either by themselves or their partners) to keep house, bring up kids and run their businesses on their own.  Us women know that is an unreal expectation for anyone to have on us let alone on ourselves.  We try this for a while and then we get frustrated or overwhelmed or snowed under or a combination of all these.  A partners may say that our goals are unrealistic, but we know there is great potential and limitless possibilities available ‘out there’ and available to us.  So it is not that we are being unrealistic about, but we don’t have time and/or the energy to see what is really happening in our businesses. 

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What the Heck Do I Charge?

What the Heck Do I Charge?
There are many methods that can be used to calculate what should be charged for products and services.  In this session we are coming from three main perspectives:-1.    What are others in my industry charging?2.    How much do I want to earn in a year?3.    How do I value myself and what I do or sell?   What are others in my industry charging? Many people don’t know how to calculate or come up with a price for their products and or services so they use what others charge as a guide.  This is all good and well but doesn’t take into account any variations you have from them.  You may have a ‘at home office’ and they have a dedicated premises;  you have higher qualifications or more valuable experience than others;  you may have other sources of income to supplement this activity, etc.  All these points can make a significant difference to how much you can or should charge.  The other reason this is not an accurate method to use alone or at all is because this doesn’t take into account the following factors:-•    the location of your target market•    the types of people who are your target market•    the income of your target market•    the value of your products/services in the mind of your target market•    the value you add to your clients/customers•    the value you feel you have to add (we will expand on this later)•    the unique elements of your product or serviceUsing industry rates as a pricing model keeps your mind in the competitive not creative mindset and this in turn limits your earning capacity and opportunities. How much do I really want to earn in a year? Using this pricing method in combination with others can be much more beneficial.  This keeps your mind in the creative mindset and the philosophy that everything is limitless.Now imagine your ideal life –what it would look like, what would it include, where would you live if you could choose to live anywhere, where would you work from, what would your home be like?, where would you holiday?  These are all things to consider.So to have a lifestyle like this how much income is required each year?  From this amount deduct income from other sources and your partners income.  Once you know how much annual income you require you can calculate what that is in weekly, fortnightly or monthly frequencies.Using our example this would mean an annual income of the $165,000 means the following amounts in other frequencies:-$13,750 per month$ 6,346 per fortnight$ 3,173 per weekIf you have a service business where you charge by the hour and have products to sell, and you know 70% of your business profits come from your services and you work 1430 hours per year (an average of 29.8 hours per week conducting your services).  In one year you would need to earn $115,500 per year from your services alone.  This would mean you need to earn $81 per hour for yourself (so add on any expenses, superannuation and taxes).If you have products as well, you can total number of products sold per year and divide this into the remaining amount of earnings require for the year, this will give you the average base price per product (don’t forget to add on any expenses, superannuation and taxes).  For example that means $49,500 divided by 1,700 (products sold) gives an average product base price of $29. How do I value myself and what I do or sell? The last pricing method is a very good place to start from but the last consideration is and should be how you feel about the value you add to others personally and through your products.  For example if your product saves people a lot of time then it is of more value to them and they are often prepared to pay a little more money for good quality products or services.It is difficult for small business operators to get an understanding and true appreciation of what they have to offer, yet this is essential if we are going to be successful in business.  Why is it so difficult for us to appreciate our own value, many factors could be mentioned here.  Fundamentally it comes down to the following reasons:-•    our childhood has affected or feelings of worthiness and we haven’t let them go• &nbs...
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Dealing with Negativity

Dealing with Negativity
This is something I am sure we have all experienced in our lives and probably we will in the future.  Some think that if they got rid of all the negativity in their lives everything would be perfect.  Do you agree?  Is it even possible to be free from all negativity?   How many of you have had a great day at work or in your business and then you come home, talk to your partner or children and the negativity seems to come flooding toward you?  You get a lot of flack or objections to actions, statements, points of view, etc that seem extreme and unwarranted.  Why does that happen?  This is a question I will answer for you later, after we clarify where the negativity comes from.  Why it is a habit that is difficult to break and how to deal with it in the future to our benefit? Let’s first look at where negativity comes from Well, we have to realise there is no escaping negativity because it has always been with us, or has it.  Negativity is part of our conditioning as children, and due to this has become a habit.  What do I mean by this?  Well, I, like you, have grown up with being told “don’t do that” or “you can’t do that” or similar things.  I heard this lots more often than positive things like “congratulations” or “well done” or "How could you do it differently next time?" or "What would happen if you didn't do it that way next time?" and of things we can or could do.  So now can you see negativity this becomes a habit and is therefore not a natural part of human nature, we are not born with it.  So if we go back to our true nature and true selves are we positive?  A question we will discuss later. Why is negativity a hard habit to break? Negativity is part of our programmed or conditioned thinking, which becomes part of the subconscious that rules us.  This programming continues throughout our lives because we are a herd mentality;  people like to conform to fit with what most others are doing.  If we do something different it makes the rest of the herd feel uncomfortable, alone and abandoned.  So they encourage us, with negativity, to push us conform and not move outside the herd comfort zone, not to do things differently.  Some parents are particularly good at encouraging with negativity, because they want to protect their children from the dangers of the world.  Negativity is like any other habit that we have gained from a very young age – like stepping forward with the left foot first rather than the right, saying a word a particular way, etc;  it can be very difficult to change and this is no different. So why do you get a hard time when you get home in a great mood, this is to ground you and provide balance.  How to deal with negativity? As parents it can be challenging to allow our children to make their own mistakes and successes, particularly if we have had bad experiences ourselves or have been brought up with the negative consequences approach.  We need to remember that our children are not us, they have not had all the cumulative experiences we had to the same point, therefore they don’t see or feel things in the same way we did at their age or do now.  We need to also trust that we have taught them well and they have enough intelligence and initiative to work things through on their own.But greater than that, we need to trust in ourselves and the Universe, God or whatever you choose to call it.Everything happens in balance.  How boring and mundane would it be if there was no negatives to deal with?  How would we know what is good or great?  We would have nothing to compare our good experiences too.Wallace D Wattles wrote in his book “The Science of Getting Rich” that the hardest activity for a human is to think the truth regardless of appearances.  The truth really is that each one of has unlimited boundless potential - money, health, happiness and love are unlimited.  What we do is create limitation by looking at our past circumstances and conditions or that of someone else.So a few quick things you can do:1.    Do the opposite to what you are currently doing – that is if you are sitting, get up and walk around for 8 minutes at least;  if you are walking sit quietly on your own and relax for at least 8 minutes.2.    G...
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Am I Doing Enough?

Am I Doing Enough?
Many women today desire more life from life than our parents seemed to have.  We begin to question ourselves in depth about that and what we are doing. Many are working in jobs or in their own business so we can have challenge outside our family and fulfill our life's purpose, as well as many other reasons.What we are really longing for is to be recognised and appreciated for our efforts , knowledge and experience.  Is that enough though?  When you get those feelings do you still question what you do, punish and criticise yourself and wonder if it is really enough?  Will it ever be enough? So what is really going on? This often comes down to a few factors, such as low self esteem and low feelings of self worth.  Or maybe you are taking on more than you need to so you can receive better feelings about yourself and show you are 'worth it'. Most people these days have many activities and roles they commit to.  Often there is too many and we eventually feel obligated in too many areas of our lives and for too many tasks – we spread ourselves too thin, sacrificing our inner health, physical and happiness.  Are you doing this at the moment? If so the actions below will help you lighten your plate so you don't spread yourself too thin.   Action 1 For at least a week (preferably four) keep a detailed diary of how you are spending your time – each task and how long it takes.  At the end of this time list the tasks you have done and how much time they have taken.  You are likely to be surprised.   Action 2 Now it is time to categorise the tasks you have undertaken and total the time spent in each category.  Your categories may include – household, family, friends, career/work, business, creativity, fun, physical health, mental health, spiritual, socialising, love or personal time.  For example,  if you have spent 3 hours on housework that would be categorised as household.   Action 3 Next make a list of all the things that are of value and important to you and rank them most important to least important.  The most important are  things that make you motivated, make your heart flutter and full of love or joy.  For example – Family, helping others, business, honesty/integrity, love, health, etc,.  Contact us if you would like free a copy of our worksheet to assist you with this.   Action 4 Now it is time to categorise the tasks you have listed in Action 2 against the your ranked values from Action 3.  To do this you must add up the time spent against for each of your valued areas (Action 3).  This will highlight any areas of your life where you are not living your values.  For example if you had household as taking 8 hours and that is not in your values list then you have a discrepancy.  An example is if you have family as taking 36 hours, fun has been measured to have taken 42 hours of the month and these areas are highly ranked in your values, which is ranked higher, fun or family?  Let’s say Family was ranked higher on your values than fun, you should note this and ask yourself why you spend so much time on your fun and not with your family.Differences like this raise the question “What do I need to change to live according to my values?”To answer this you can look at the tasks you do that take up time and are not high in your values.  Can the family members work together to accomplish some of these tasks to share the load and assist each other to have more time to do things that are important to them, or is it time to get someone outside the family to do theses tasks.  This often improves family relationship and the quality and enjoyment of life.
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