There is no better time to do a business audit for your business, than now.
Even if you only have one book or one product, as long as you sell something, you have a business. So how do you carry out a simple audit for your business?
You answer the following questions:
- How much did my business bring in every single month? You should know your monthly earnings as a serious business owner.
- What is my average monthly income? (You calculate your average monthly income by adding all your income from January to December, and then dividing the total income by 12 months.
- What is the difference between my desired monthly income goal and my actual average monthly income? If you started the year with a desired income goal of how much you planned to earn monthly, and that figure is different from what your actual average income from number 2 above is, subtract the actual income from your desired income goal. What is the difference?
- On a scale of 1 to 10, with 1 being completely unsatisfied and 10 being very satisfied, how satisfied am I, with my actual average monthly income?
- What did I do to get this actual average monthly income? You have to be honest with the actions you took, as well as the actions you did not take. Nobody will beat you and nobody will see what you wrote, so tell yourself the truth.
- What could I have done better to get to my desired monthly income goal? You know the things you were supposed to do, that you either didn’t do, or didn’t take seriously. Write them down.
- Going forward for the rest of the year, what will I do differently to be able to hit my desired monthly income goal?
- What will I stop doing, to enable me hit my desired monthly income goal?
- How will I show up in my business to ensure I hit my desired monthly income goal?
- What do I need to learn and who do I need to learn it from, to enable me hit my desired monthly income goal faster? Are there books, tutorials, classes, courses or Strategy Calls I need to take?
- What will happen if I don’t reach my goal at the end of the year? What is the consequence of not achieving this goal?
- What will happen if I reach my goal at the end of the year? What is the benefit of reaching my goal?
- How will I commit to doing the work, so I can hit my goal?
Now, these questions should help you get started in auditing your business’ income, but this isn’t a concise Small Business Audit Plan.
I have a workbook that takes you through the process of properly auditing your business so you can see what is working, what isn’t working and where you need to fix stuff and upgrade your business. You should get the workbook. It’s called the Business Audit Guide for Online Business Owners.
