Here’s the truth: Cash flow solves a host of issues. Struggling with stress in your business? Cash flow can ease it. Facing tough decisions? Cash flow creates options. The more consistent your cash flow, the more freedom and flexibility you have to tackle challenges head-on. The key? Focus your time and energy on money-making, goal-relevant activities. It’s easy to get sidetracked by busy work, but true progress comes from actions that directly contribute to your bottom line. Today, ask yourself: Is what I’m doing right now driving cash flow or just filling time? Adjust accordingly, and watch the problems start to shrink. To your Momentum & Mastery, Spencer About Spencer Combs: Spencer Combs is a business leader and author of Momentum and Mastery: The Business Leader's Guide to Fastrack Unshakeable Profit, Productivity, and Purpose . With a passion for helping others transform their challenges into opportunities, Spencer offers unique insights through his events, coaching prog...
Planning is my gig. I’m a consummate strategist. It’s one of the natural traits that helps me work with business owners. The downside is that I struggle with being in the moment. I’m the guy over in the corner thinking about what comes next at a social event while others are soaking up the moment. Since recognizing this several years ago, I have gotten much better… way better at that. The pivotal exercise that made all the difference is what I affectionately call my W.R.A.P. Sheet. Weekly Results And Planning.
If you struggled in the past with setting goals and not seeing them to fruition, this can help. If you’ve struggled with popping off with new ideas and just moving on to the next one before finishing the last one, a WRAP session can help.
If you struggled in the past with setting goals and not seeing them to fruition, this can help. If you’ve struggled with popping off with new ideas and just moving on to the next one before finishing the last one, a WRAP session can help.
Without it, I have the attention span of a gnat. And when you’re borderline ADD, maintaining momentum on any given focus, it takes a system. The WRAP Sheet System is a rhythm. The more often you refer to it, the faster you can make adjustments. I can always tell by my momentum or lack thereof on how I’m doing with that rhythm.
Keller Williams Realty and Gary Keller have taught for decades the use of a 411. If you understand those principles, then the WRAP sheet should only enhance your effectiveness.
In its simplest form, you set one dominant goal for the year first. We will call this your primary target. For some people that is some sort of theme and for me I usually just set a gross income goal. There’s no right or wrong way to do it, I just know that you need a defined outcome that everything else is tied to.
Second, you break that down into no less than 5 major areas of focus and no more than 9. We could call this your Strategies. For 2022 I personally have 6. There is science behind the specific numbers of 5-9 so be sure not to have less or more. We teach this in several of our classes when it comes to getting into traction and, more importantly, momentum.
Third, identify specific outcomes for each of those areas of focus. I typically only have about 3-5 for each. Our goal here is to simplify, not complicate. Lay out measurable outcomes for each area.
Fourth, take each area and break them down into an action item(s) you can take for this week. These will be your Tactics. Many times these items can be transferred to your schedule. If you can’t see the activity to actual completion, then it’s probably too vague. Things like, “eat better this week”, or “ make more calls for my business” will not cut it. Try things like “max 14,000 calories this week” or “120 contacts for my business this week”. Don’t get too worked up about what you write down, just put something down and take action. The power in this exercise is in the WRAP anyway.
Ok, so with this framework as your foundation, here is the rhythm you need to take.
Annually you should spend at least a day, maybe two, setting your primary target and clarifying your 5-9 areas of focus. My Wife Amy and I take an annual trip to discuss goals and plans for the upcoming year. This is where I develop my primary target and start the work on the strategies. (side note - this is even more powerful when you have a BIG 5 year goal set for yourself)
Monthly you will re-evaluate your Outcomes. It’s not good to change your strategies every month. The goal here is to review your previous month, look for the progress, and then plan what needs to happen this coming month. The best question to ask is “what needs to happen this month to make progress on this area (strategy)?”. Define 3-5 outcomes and write them down.
Weekly, you will review the previous week and then commit to the specific tactics that you will make happen for the upcoming week.
That’s it! It may sound complicated, however it’s super simple once you get into the rhythm.
Feel free to give it a shot and let me know how it went. It will feel a bit clunky at first until that wheel of rhythm gets going.
I hate to leave you with just the surface info, but I need to go.
Keep well and keep moving forward!
Spencer
Keller Williams Realty and Gary Keller have taught for decades the use of a 411. If you understand those principles, then the WRAP sheet should only enhance your effectiveness.
In its simplest form, you set one dominant goal for the year first. We will call this your primary target. For some people that is some sort of theme and for me I usually just set a gross income goal. There’s no right or wrong way to do it, I just know that you need a defined outcome that everything else is tied to.
Second, you break that down into no less than 5 major areas of focus and no more than 9. We could call this your Strategies. For 2022 I personally have 6. There is science behind the specific numbers of 5-9 so be sure not to have less or more. We teach this in several of our classes when it comes to getting into traction and, more importantly, momentum.
Third, identify specific outcomes for each of those areas of focus. I typically only have about 3-5 for each. Our goal here is to simplify, not complicate. Lay out measurable outcomes for each area.
Fourth, take each area and break them down into an action item(s) you can take for this week. These will be your Tactics. Many times these items can be transferred to your schedule. If you can’t see the activity to actual completion, then it’s probably too vague. Things like, “eat better this week”, or “ make more calls for my business” will not cut it. Try things like “max 14,000 calories this week” or “120 contacts for my business this week”. Don’t get too worked up about what you write down, just put something down and take action. The power in this exercise is in the WRAP anyway.
Ok, so with this framework as your foundation, here is the rhythm you need to take.
Annually you should spend at least a day, maybe two, setting your primary target and clarifying your 5-9 areas of focus. My Wife Amy and I take an annual trip to discuss goals and plans for the upcoming year. This is where I develop my primary target and start the work on the strategies. (side note - this is even more powerful when you have a BIG 5 year goal set for yourself)
Monthly you will re-evaluate your Outcomes. It’s not good to change your strategies every month. The goal here is to review your previous month, look for the progress, and then plan what needs to happen this coming month. The best question to ask is “what needs to happen this month to make progress on this area (strategy)?”. Define 3-5 outcomes and write them down.
Weekly, you will review the previous week and then commit to the specific tactics that you will make happen for the upcoming week.
That’s it! It may sound complicated, however it’s super simple once you get into the rhythm.
Feel free to give it a shot and let me know how it went. It will feel a bit clunky at first until that wheel of rhythm gets going.
I hate to leave you with just the surface info, but I need to go.
Keep well and keep moving forward!
Spencer
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