Stimulus Relief
Many of our clients have found that the stimulus funds did their job; kept the cash flow moving so fulfillment and employment could continue.
Individuals are also receiving their stimulus funds, keeping things even at home.
So now what?
I have been asked this by many individuals, trying to determine how to best plan for the future since there are so many “new normal” ways of being in community together and as of yet we still aren’t fully clear what they all will be.
What I know for sure is that the only way to be able to continue to pivot and change to meet your goals is to first plan and then monitor and adjust in real time. I call this Dynamic Planning.
It’s a way of planning that I have taught my clients for years. The power of it became very real for me in the last economic bump we had in 2008. Watch who is able to adjust well with whatever is happening in the world and in their industry; I guarantee you they are using some form of Dynamic Planning.
So what is Dynamic Planning?
It is first getting really clear on where you are today. Do you have a current and accurate Profit and Loss statement and Balance Sheet for all your companies as well as your personal life? Do you understand the story your numbers are telling you for each set of reports as well as for your consolidated picture?
Once this is in place, the next step is to forecast forward at least 6 months, preferably 12 months.
What are you either desiring to happen or planning to happen during this time?
This is the ROI you are planning for based on the actions you and your team will take. What are the strategies and tactics you will implement to make this happen? What needs to be in place to make them happen with the ROI you are anticipating? Who will be involved and what are the costs associated with each of them. Are there times you will be investing and times you will be receiving? Where will the funds come from for the investing cycles?
Now comes the fun part.
Walk it. Every day each of us have the same number of hours to use to create the life and business we desire. All actions produce results. Run the numbers that actually happened against the projected numbers.
Ask the 3 most powerful questions I know:
- What worked?
- What didn’t work?
- What now?
The more often you can do this the better you will become at making real time adjustments to stay on track for your results.
Congratulations you just learned Dynamic Planning. If we can be of service to help you implement reach out to wealth@thecfoagency.com and let’s talk!
In Abundance,
