Cash Machine for Life

Loral Langemeier’s book “Cash Machine for Life” is a must have for anyone who is starting a small business. Her books are easy to read, easy to follow and most importantly easy to implement. Time for a confession – I’ve been running a business now for 3+ years and I don’t have a business plan. I know, I know, shame on me. Well, Langemeier’s book offers an alternative to the business plan that I found much easier to use and was actually excited to start writing. Amazing considering I’ve started business plans,

downloaded templates, even bought two different software plans, and still don’t have one. Now, of course, I’ve never needed to look for investors or apply for a business loan, otherwise a business plan would be a must have but absent these reasons I’m happy to finally find a way to organize my business ideas without the formality of the BP. In a nutshell, Langemeier advises you to plan, put your plan in action and make sure that you hire out the non-essentials (and sometime the essentials if a professional is needed). My favorite part of the book is when she explains why it makes sense to hire a house cleaner! It’s not the first time I’ve heard this – Mary Kay Ash makes the same argument. The basic principle is to consider how much money you could make during the time it takes to have your house cleaned (or your laundry, gardening, errands, etc.) and to compare that to how much it would cost to have your house cleaned. Even if I break even it’s still worth it to do something I enjoy rather than worrying about cleaning – and I’m not spending time obsessing about the fact that the house needs cleaning.

That is really a small part of the book though, much of the book is filled with useful information and straightforward examples of how to plan for your business and create something that makes money. Langemeyer says that you should plan for a business that brings in $100,000 in sales, otherwise you might as well continue working for someone else? Sound harsh? It is a bit, but also realistic. And, it forces you to start thinking about that $100,000 goal (or more if you’re already there).

The book may seem basic to more seasoned business owners, but for me it was exactly what I needed to focus, forecast and plan for my business growth.