Money: Stage 5 of 6 on the Small Business Roadmap (FS104)

🎙️ Listen to the episode:
Episode 104: Money: Stage 5 of 6 on the Small Business Roadmap (FS104)

Now, in stage 5 of the small business roadmap, it’s time to get into the nitty gritty: can this business idea of yours actually make enough money to support you in a meaningful way?

This is a stage most of us are not well prepared for, typically diving in without any knowledge of the metrics, the movements or the models.

That’s what we break down for you into 7 steps in this conversation, taking you from “I made a dollar,” to your Freedom Number™ (the amount of money you need to make your full time living from your business).

You could have access to the best investors and the brightest business minds in the world. They still couldn’t tell you if your idea’s going to work with certainty.

This money step is where the checks, balances and bounces prove your idea has heart enough to live on it’s own or if it needs some more tweaking. Enjoy the conversation!

(PS: If you’re not already, subscribe in itunes so you can get the next episode like direct deposits.)


Money Steps:

The real meat of each of these items is in the conversation. The items below are meant as simply a placeholder while you listen to the episode.

  1. Gather and analyze customer feedback and sales data. We talked about the power of surveys here: Hey, Could I Ask You a Few Questions? The Art of Surveys (FS094).
  2. Define and implement metrics that matter. ()How The Wrong Metric Sinks Your Business)
  3. Decide if you’re going to bootstrap or raise money?
  4. Based on the metrics you’ve picked and the performance of your MVP, adapt, iterate and/or compliment your product or service.
  5. Based on the metrics you’ve picked and the performance of your platform, grow and adapt your audience.
  6. Rinse and repeat to grow revenue to get to your freedom number.
  7. Pivot or persevere.

“About a month after we started Y Combinator we came up with the phrase that became our motto: Make something people want. ”

Paul Graham


The Roadmap Episodes:

  1. Clarity (episode 100)
  2. Connection (101)
  3. Planning (102)
  4. Build (103)
  5. Money (104)
  6. Scale (105)
  7. 4 Updates (106)

the 6 stages of business roadmap


Show Notes

10 Questions to Ask Yourself Before Raising Money to Fund Your New Business

A Bar Above Mixology – Mixology Training & Cocktail Mastery

Don’t Click: Chase Reeves on Instagram: “There is an awful lot of my finger on that knife.”

Earn a living doing something you love.

Grow an audience and get paid for your work as an independent creator. Fizzle is where creators come to learn, share and make progress toward their online dreams.

I’ve taken a lot of courses and been involved in several paid communities since I started my business, but I’ve never ever felt like anyone CARED as much about seeing my reach my goals as the Fizzle Team. They show up for me as much as I show up for myself. Thank you SO much, you guys!

Claire Pelletreau
ClairePells.com

📓 Articles & Announcements

  • Introducing Fizzle 2.0

    Today is an exciting day for Fizzle. We’re announcing a complete refresh of Fizzle, including every aspect of our user experience – courses, content, live events and more. Since we first opened Fizzle in 2012, we’ve provided thousands of entrepreneurs and creators with training, coaching and community. Today, this refresh marks

  • The Secret to Creating Consistent Content (that nobody’s talking about)

    Hands up if you easily create consistent content week after week without fail. My guess? Since you’re reading this article, that’s probably not the case.   But despite what you may be thinking  – you’re not alone.  Lots of

  • How to Start a Blog (The 5 Most Essential Steps)

    Starting a blog can be a life changing decision. I started blogging on a sabbatical while road-tripping through Mexico one year, and had no idea just how much my life would change as a result. Because I started a blog, I have: Reached millions of people Made friends around the

🎙️ Podcast Episodes

  • The Golden Age of Creators with Barrett Brooks

    Barrett Brooks is COO at ConvertKit, which is a email marketing software for creators (authors, musicians, chefs, filmmakers, comedians, YouTubers, etc.). In this episode, Barrett goes into depth on how to own the relationship between your audience independently of social media and other platforms. By creating your own website, and

  • “Traveling Light” with Chase Reeves

    Today we have former Co-Host and Co-Founder of The Fizzle Show, Chase Reeves! We catch up with Chase today as he embarks on his own podcast journey with his new show: “Traveling Light,” where he explores the ideas, lifestyles, and habits of pop creatives, thinkers, and makers

  • Life Profitability: Measuring What Matters with Adii Pienaar

    Adii Pienaar is founder of WooCommerce and Conversio, both of which he successfully sold. In his new book Life Profitability, Adii gives us a new perspective for becoming self-aware, recognising your values, and understanding your impact.