Creating a Solid Foundation for Financial Peace

.There are four aspects to growing your quilt shop:

  1. Have a solid foundation

  2. Create predicable cash flow

  3. Create stability

  4. Create efficiency


I went over these aspects in my last blog but I am going to dive deeper into the first aspect and the three things you need for a solid foundation.



Figuring Out Your Vision


The first thing you need to do is, make a vision story. Take the time to think about how you want your life, how you want your life to be, how you want your business to run. Ask yourself several questions. How much freedom does your business provide you? Do you want the freedom to travel? Write down how you want your life to look in the future and write it down in present tense. Doing this is going to change your mindset. It is going to give you your why. You are going to evaluate this vision story every month to make sure you are working towards this vision. Evaluate what you need to do, to make your life and business more like your vision. THIS is your why. This is what will motivate you to continue working towards your goal, even when you feel defeated.

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Immutable Laws

These are the laws you live your life by, most businesses call them their core values. Integrity is a very popular immutable law. You can see an example of these here. You want to take these laws and write them into your business.These will be the “laws” your business is run by. These laws are going to tell your employees what it is they are working for and how they are supposed to go about it.


Mission statement

Why do you want to own a quilt shop? Why would someone want to work for you? Simon Sinek wrote ‘Start with Why’ and said, “People don't buy what you do people buy

why you do it.” Start with your why. A simple mission statement template can be:


We (insert what you do) because (reason) by (a daeadline.)


Example:

“We provide actionable tools and support to 100 quilt shops each year because growing a profitable quilt shop should be something to brag about.”

Most businesses do not have a mission statement. This is an important piece for careating a solid foundation.

Once you have figured out your vision, determined your immutable laws, and have your mission statement you are going to share it with everyone! You want to share it and find the people you want to work with and work for!


Are you looking for support with any of these building blocks?? Check out the Money Made Simple Academy for Quilt Shops.

We cover these steps and more in the program. And it’s an opportunity to get personalized support from me.



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