Welcome to The Money Path! Presented by Kim Yuhl,creator of secretsofbetterbusiness.com

Who Am I?

• Wife & Mom• Small Business Owner• Passionate About Social• Blogger• Coach, Mentor, Advisor• Martini Drinker• World Traveler!

kimyuhl.comsecretsofbetterbusiness.comtwomartinilunch.com

WHAT IS THE MONEY PATH?

About This Course

• Understanding Your Business Model

• Do Your Homework

• Answer Honestly; The Score is Meaningless

Understanding the money, how you make it and where it goes, is critical to any business success.

The Money Path and Your Business

• Value Proposition

• Customer Segments

• Market Segments

Offering

The Money Path and Your Business

• Revenue Stream

• Cost Structure

• Sales Performance

Revenue

The Money Path and Your Business

• Innovation

• Competitive Advantage

• Key Partners

• Exit Strategy

Sustainability

How The Money Path Works

Offering: Value Proposition

• How unique and different is your product or service?

• Is there a customer need for your product or service?

• How valuable is what you offer to your customers?

• Is your product or service priced competitively?

Offering: Customer Segments

• Is it easy to continuously acquire new customers?

• Are there new customer segments you can target?

• Are your customers price sensitive?

• What is the economic health of your customers?

Offering: Market Segments

• How large is the market and is it growing?

• How likely is the market to become saturated?

• Are there threats of substitute or alternative products or services?

• What are the typical margins in the industry?

Revenue: Revenue Streams

• How strong, predictable and diversified are your revenue streams?

• Are any of your revenue streams likely to disappear in the near future?

• Are there other offerings your customers would be willing to by?

• Is revenue generated through one-time or recurring purchases?

• Are any of your revenue streams proprietary?

Revenue: Cost Structure

• How cost-efficient are your operations?

• Are any costs threatening to outpace the revenues they support?

• Are there areas where costs can be cut?

• Are your margins higher or lower than your competitors?

Revenue: Sales Performance

• Does your product/service sell itself?

• How does the cost of customer acquisition compare to the lifetime margin?

• Can anyone sell this product or is special training required?

• Do you have a sales pipeline (repeat customers, email list, customer referral program) that can predict future sales?

Sustainability: Innovation

• How much do you need to innovate to keep pace?

• How easily and quickly do you innovate?

• How well do your competitors innovate?

• How much of an advantage do you gain through successful innovation?

Sustainability: Competitive Advantage

• Do you have an advantage based on differentiation?

• Are there opportunities to grow or modify your value proposition?

• Is your product or service easy and inexpensive to replicate?

• Are there threats of substitute or alternative products?

Sustainability: Key Partners

• Do you have the right partners to support you and your business?

• Are you too dependent on certain partners?

• Are there collaboration opportunities to help grow your business?

Sustainability: Exit Strategy

• What happens to the business if you can't work?

• Would you be able to sell your business for enough money so you won't have to work again?

• Is your business over-dependent on a few customers?

• How reliant is sales success on your involvement?

Now What?

What To Do With The Information

• Note Areas for Improvement

• Prioritize & Improve

• The Score is Just a Score

Being better isn't good enough. Being different is where it's at.

Brainstorming

• You may not want to introduce a product that relies only on you or highly skilled professionals to sell it.

• You may not want to implement something with low margins and high costs.

• You may not want to create something that people will only buy once.

• You learned how to score your business • You started to think about areas for improvement • You became equipped to assess your business • You learned how to evaluate new products or

services prior to implementation

You can reach me at: kim@kimyuhl.com

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Interested in more free live trainings? I announce them in my weekly newsletter. Go to kimyuhl.com/get-boost/ to sign up.

!This course is part of The Secrets of Better Business Education Series -

designed to help small business owners work smarter and live better. secretsofbetterbusiness.com

QUESTIONS?