Welcome to Day 3 of the JDP January Jumpstart Challenge! As we turn a new year, we're inevitably looking at our finances and asking ourselves questions like:

On day 3, we're going to do a financial performance review plus evaluate the pricing strategy of your products and services. 

 

Step one: Familiarize yourself with financial indicators and their definitions on page 13 of the Challenge Workbook! 

 

You don’t have to be a financial wiz to own a business, but you do need to understand the financial terms and indicators so you know where you’re heading.

 

Step two: Analyze your finances and complete the financial checklist on page 14. 

 

If you don't already have your finances organized, it's time to set it up now or hire a bookkeeper to help you. I use QuickBooks and love it — you can use my link here to receive 30% off QuickBooks Online and QuickBooks Payroll for 6 months.

Step three: Audit your current products and/or services. Fill out page 15 (and 16 if you need more space) with your current products/services, calculate your gross & net profit, and evaluate if these items are still bringing you joy and if you're charging enough. 

 

If you need further support understanding your financial metrics, write down your questions on page 18 and get them ready for the Q&A with me on Tuesday, January 30th from 1-2PM CT. Don't forget to add the Q&A to your calendar! 

 

Thank you again for joining the January Jumpstart Challenge. Questions? Respond to this email and I'll get back to you as soon as I can.

 

Have a great day, 

Jordyn DiOrio

JDP Consult Co