This may ‘seem’ far-fetched, but the secret to running a profitable business follows many of the same steps as being successful with a new diet. They both require discipline. They both require a decision to commit. And, they both require you to monitor your progress so that you can make the necessary tweaks to continue to get the best results.
But, these aren’t the only things that a diet and running your business have in common. Here are four other ways that dieting can teach us how to get our cash-eating machines back on track.
1. Use smaller portions – Just with a diet, you have to work on portion control. The same thing is true for running our business’ finances. If we don’t carefully consider how we’re spending, then we can run the risk of spending too much (or eating too much into our profits). It’s by taking a ‘smaller’ approach to cut back on unnecessary expenses that we can start to see some immediate changes in our business.
2. Switch up your habits – When it comes to nailing our diet, we often have to create new habits and change up how we do things. For example, you may work out before you start your day, or you may eat your vegetables first before treating yourself to dessert. The point is, you may put things into place that will ensure you are successful in the long term. This is true as well in our business. We may pay ourselves first or put aside profits and then use the remaining money to cover expenses.
3. Don’t be tempted to overspend – It can be easy to have ‘cheat days’ on a diet in the same way that you can slip up and have ‘cheat days’ with your finances. But, when you’re very disciplined and put money aside to save first before spending, then you start to train your brain to not be tempted to spend – for the sake of spending. This can definitely be easier said than done, but it can definitely be done!
So, you see, we can take a valuable lesson out of the diet industry’s playbook. When we stick to healthy business habits, learn the right ways to manage our business health, and stay focused on getting results, then we can turn our cash-eating machines into freedom-producing businesses!Want to know exactly how to put your business finances on a diet? Make sure to grab your copy of Profit First for Salons right here (and pay particular attention to Chapter 2).