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Checking-in with the PPA Business Challenge:
It's now been six months since the inaugural class of PPA's Business Challenge started on theLoop. Since then a new group has started each month and those participating are making changes that will affect their businesses and their lives as they continue their entrepreneurial journey.
One of the first things Challenge participants are tasked to do is define their personal idea of success and then create a sales and session projection using the online tool, Square One. It helps point every small business owner in the right direction and kicks off your Challenge-year with a firm understanding of what you need to accomplish in the upcoming months. Here are just a few comments pulled from the Discussion Threads on how things are going for our current participants:
"I did the square one projections for my business. Wow. I had to go thru it a few times and it was eye opening. Not charging enough!!! This was so helpful... "
Kim B.
"Just realized I misunderstood net income. This changes things... YIKES. Now I'm getting that crazy scared feeling in the pit of my stomach... This is such a huge kick in the rear. I did a few breakdowns - with and without (a physical) studio. (End goal is to have a studio space of my very own, so I wanted to see what needed to be done.)"
Later...
"Happy to report that I finished my projections yesterday. I did one for a home based studio and one for a retail space. I figured that my goal would be to aim for the retail space numbers since I want to end up with a studio. If I fall short and hit my home based numbers, that's ok - just means I landed among the stars, right? I'd be happy with either number right now, as long as eventually I get to the retail numbers! :)...And now that I've done my a la carte pricing, I'm seeing clearly how that will help me reach the projection numbers. It's all starting to come together in my brain."
Karen C.
"I just used the square one tool, and it really gives me a starting goal for what I need to do. So far I am working well towards my goals and getting the sales per session mark. I just need to do more sessions. More sessions will come from more marketing and better time management."
Jennifer J.