The Escape Hatch

Every month I put tips in my Escape Hatch newsletter about saving money in different parts of your life and putting those savings into your Must Fund.  The Must Fund is the (must be interest bearing) account where you tuck away money you save to fund what you “must” do in your life…pursue your dreams and build the business you’ve always imagined.   The way to go about doing this is to look at all of your current expenses and trim where possible so that you can build your business quicker or fund the business investments that will get you to a certain level of success quicker.

I’ve explained the way this can work in the past, but it dawned on me a refresher course might be in order.  Take this month’s article – how to save money on hair coloring services.  I list out a few ideas in the article such as using home preparations, going to a school or waiting longer in between coloring sessions.  For example:

If you normally have your hair colored every 6 weeks, that amounts to 8 or so times/year – if you pay $120/vist that comes to around $960/year.  However, if you stretch that visit to 10 weeks, than you will need to have it done about 5 times/year which equals around $600, this is a difference of $360.  Now, imagine what you can do in your business for $360:

• 3 years of e-commerce services WebGem Network (lowest-priced package, includes hosting) OR they will create a Facebook Fan Page for you for the special price of $300 (use code FBGem to get this offer)
• 1- 2 hour intensive session with PR maven Lizzy Shaw (mention Escape Hatcher to get this offer)
• A marketing tag line that sizzles or 200 words of website copy that will stop traffic with copywriter Serena Tarica (contact me for her contact info)
• A business systems and success package with Alaia Williams (mention Escape Hatcher to get this offer) (or for less money even, you can do a business systems and strategy audit and detailed action plan to carry you forward)
• 2 sessions or  wellness package with wellness coach Erin Lanahan (so you have the energy to think up or run your business)
• 3 sessions with tech guru Douglas Welch (upgrade your blog, or add video to your site, etc.)
• 18 hours of assistant work at $20/hour
• An e-mail marketing account with a service like Constant Contact ($180/year)
• subscriptions to 18 different biz magazines (not sure if that many exist), start with Entrepreneur
  
• membership at 2 Chambers of Commerce (usually around $150/year)
• Office supplies
• File a federal trademark at Legalzoom
  
• 7 meals out with possible investors or joint venture partners
• website upgrades or maintenance

You get the idea…there is A LOT that you can do with $360 if you look at the possibilities and this is just hair coloring!  Imagine what you can do if you go through your budget and eliminate all unnecessary expenses and trim even the necessary expenditures back to a more modest amount.  You could be literally sitting on a gold mine worth of options.  This method will help you get things going and you won’t have to look for outside funding as quickly or as often.

Good luck.  Let me know how it goes and send me your ideas and success stories and I will share them here.

**disclosure – Escape Hatcher does not get a penny if you go after one of these offers up top.  I enjoy spreading the word about exciting businesses and the amazing people that run them…and will continue to do so.