How do you ensure your Business LifeStyle operates entirely for the purpose of providing you with a profit so you can live the lifestyle you always want to live.
Successful business owners can tell you exactly how much money they earn, spend and what they have in their bank accounts… the last one being the most important because that’s how you get to have a business lifestyle you really want.
We refer to this as the OPIC CashFlow, and it’s the one aspect of the business that tells you how you’re doing?
The OPIC CashFlow is one of Eight business concepts that we use to coach Artists, Designers &creative business owners. It’s also part of our business workshop series that we run throughout the year.
ArtSHINE’s 8 Business Concepts:
8. OPIC Leveraging
When we discuss financials with our clients, we often hear “That’s the accountant’s job!” Yes you’re right, it is their job, and it’s great you can delegate those tasks that you don’t like to do in your business to your team member or outsource to someone else, but that doesn’t mean you don’t know how to do those tasks, or what needs to be done too. If you decided to do it this way then you are an abdicator, rather than a delegator. The successful way to run your business is you need to understand or know how to do it first before you can delegate to others.
Managing your creative business requires you to know the basics in all aspects of your business. Financials such as cash flow concept is one of the areas that creative business owners often shy away from. Did you know financials aren’t that hard to handle? Think of it as “Money in and Money out”.
You must challenge yourself to master it, you must have fun on the way too… this journey might appear daunting, but it can be exciting … especially when you see how much money you can make by understanding some basic cashflow concept.
The OPIC Cash Concept is to ensure you recognise the value of understanding your financials and being able to ask the right questions if needed from your team.
Want to learn more about your CashFlow for your business?
Need help in mapping out your Art Licensing journey?
- Just starting out? CLICK HERE
- Been working in your business for two years or more? CLICK HERE
Call Vinh on 0410 636 138