You are making a mistake when you do not set revenue goals for your business as the top priority and build it. Is that counterintuitive?
Eleanor Beaton is the Power + Presence + Position podcast host. She believes that if your business is built solely on revenue generation, it will lead to frustration and stress. You risk making your business a sales machine and losing sight of your business’s values.
“When I focused on revenue, I felt stressed.” Although business grew, it wasn’t easy at times. Beaton states that it was hard to feel motivated. Finally, she discovered that creating an ecosystem is the best way to focus the business on revenue.
The business ecosystem revolves around creating customer value. Women make valuable contributions to society and are more likely than men to address the problems their business solves. It is more about their business’s value to community than how much profit they make.
Beaton believes that if we stop focusing on revenue and instead look at the most important, cash and influence, we can create a sustainable business that will grow.
Beaton understands that not all founders desire to reach unicorn status. Beaton’s business model reflects this.
Beaton teaches the Jewel business model in her programs.
1. Cash
Cash is vital to a business’s survival. To generate cash flow, you must have sales. Sales are an essential part of the business cycle but not the sole stay. It is best to aim for a steady 30 percent increase in revenue year-over-year. Once you reach your desired business size, it is time to slow down growth.
2. Influence
You must be able to communicate your ideas and get them implemented. For business growth, it is essential to achieve consistent profit margins of 30 percent.
3. Autonomy
Autonomy gives you freedom in your business. Founders must have 30 percent of their unscheduled time so they don’t get caught in a delivery trap. Business growth is possible by having the downtime to plan, strategize and get creative.
The bottom line is that not all women want to build a billion-dollar company. However, you don’t want your business to be viewed as a lifestyle venture. It would help if you managed your finances to keep your business afloat, regardless of creating a billion-dollar business or a six-figure one. Beaton’s C.I.A. This model helps you concentrate on the most critical aspects of running your business.
Beaton will introduce a new coaching program to help other female entrepreneurs in the industry. It will begin in fall 2024. This will allow coaches to learn from Beaton and then implement it in their clients.
