Episode 112

Futurecasting and What It Means for Your Business

What is futurecasting and why is it important for the future of your business that you understand it? If you want a long-term vision for your life and a strategic plan for the growth and longevity of your business, today’s episode is for you.

When you can cast your vision upon the future, you can create something truly different. Futurecasting is a tool used by the biggest businesses out there to predict sales and expand more broadly. But as a solopreneur or small business owner, you can adapt the same principles and apply this concept of futurecasting to secure the future of your business.

Tune in this week to start the process of futurecasting and learn how to start developing the skills that will allow you to create a prosperous future for your business. I’m discussing how to consider your future self alongside the future of your business, and how to identify what’s currently holding you back.

Interested in joining Wired for Wealth? Click here to learn more!

What You’ll Learn from this Episode:

  • Why it’s difficult to think about your vision for the future as a solopreneur or small-business owner.
  • What the process of futurecasting for your business looks like.
  • Why you need to consider your future self just as much as you think about the future of your business.
  • What is currently stopping you from making the kind of money you’re capable of making.
  • The skills you need to develop to start healing your relationship with money.
  • How to start futurecasting for your own business and let your mind go wild.

Resources

Read the full transcript now

You’re listening to The Jewish Entrepreneur Podcast with Debbie Sassen, Episode 112.

Welcome to The Jewish Entrepreneur Podcast. I’m your host, Debbie Sassen. I went from being a financial adviser, author and chronic underearner to building my business to six figures as a financial planner and money mindset coach. And then, on to multiple six figures as a full-time money and business coach.

I help entrepreneurs create money making businesses and build wealth, using sales and money mindset strategies in alignment with authentic Jewish values. Now, let’s dive in to today’s show.

Hello, my friends, and welcome back to the podcast. I am so happy to be bringing you today’s episode. But before we jump into the topic of futurecasting, I think an important part of this discussion today is what you think about money, how you feel about money, and have you ever really looked at your relationship with money deeply?

If you haven’t, I strongly recommend that you go to my website now and download my free Money Mindset Workbook at DebbieSassen.com/mindset. Because we are at the beginning of 2024, you have a new opportunity to change everything about your relationship with money; the way you think about money, the way you feel in your body about money.

Do you feel slimy and greasy when you ask people for money? Either to pay you in your business in exchange for how you serve them, when you ask for donations, when you are asking people to lend you money. Maybe you need to borrow money to build your business. Maybe you need to borrow money to help your child; a medical cost or educational cost, or to help them with their wedding.

Some people need to borrow money because they don’t have it saved up. Two episodes ago, we talked about and shaming debt. Debt is just negative money. Or I also sometimes like to say it as, borrowing money from your future self.

Your relationship with money underlies everything that you do in business. Also, in how you choose to invest in your business, whether it is investing in growth for 2024; that is something that I am doing very aggressively this year. Right now, in the first quarter of 2024, I am putting a lot of foundational pieces, new pieces, into my business, so that I can explode my growth in the second, third, and fourth quarters of 2024.

But if you are afraid of investing money in your business, or you are afraid of investing in the stock market for your retirement account, that is going to show up in the black-and-white numbers you have in your personal bank account, and in your business bank account.

So, please, before you take one more step forward in 2024 change your relationship with money. Again, my website is DebbieSassen.com/mindset. Download your Money Mindset Workbook, and start creating awareness around what is happening for you in your relationship with money. Because once you have that awareness and that clarity, that is what you need to create change.

Alright, my friends, let’s talk about futurecasting; what it is, and why it is important for you to understand futurecasting for your business. Now, “futurecasting” is a term that is used for strategic planning for business. So, I’m going to take that topic of strategic planning and I’m going to stretch it a little bit. We’re going to do a little bit more future visioning. We’re going to cast our vision upon the future to really create for ourselves something different.

But in the business world, when companies try to forecast their sales for the next year or two years or three years, that’s what they’re doing. It is a strategic planning tool that they use to really think about the future; how much money the companies are going to make, what are the trends in the economy, what sort of customers need to change, evolve, what sort of markets they need to grow into.

It really pushes the planning boards of larger companies to think strategically and to think more broadly. But I like to take this concept of futurecasting and bring it much closer to home. Because the companies that I talk to are solopreneurs, small businesses, and we usually have a different way of operating in our business.

We can still take this concept of “futurecasting” and we can apply it to ourselves. So many of us are involved in our businesses, especially if you’re a solopreneur; you are doing the day-to-day running of everything; and it’s hard sometimes, because between the admin and serving your clients and sending out emails, recording podcasts, whatever it is, it’s hard to find a CEO day, or CEO week, where you spend time super thinking about your business and thinking about your future.

I did this this week with my clients, in my program Wired for Wealth. We had a 90-minute business planning workshop, and I started it not from the technical; this is the number of offers you need to sell this year, at this price, in order to meet your sales goals. But we started by opening up our minds.

I invite you to do this too, with me, right now on the podcast. The first thing I started with, because we always want to “sandwich”; there’s that concept in parenting of “sandwiching.” First you tell your kids something good, then you tell them something bad, or something they need to improve on, or something you’re disappointed in. And then, you “sandwich” that constructive criticism between kisses, hugs, love, “I love you very much, and I know you can do it.”

When we are futurecasting for our business, and who you need to be as the CEO of your business, you also want to “sandwich” your future self in remembering the past. What did you accomplish in 2023? We started like that, this week in my workshop.

I suggest five things you’re proud of. Now, you probably have more than five, but we didn’t want to spend a whole half hour on really drumming up all of the amazing, amazing things my clients did in the past. I did give them a worksheet to work on, the last two weeks of December.

Really to go back month by month and notice: Have things changed with their email list? Have they signed more clients? Have they been interviewed on podcasts, or been involved in summits, and so many different things that they can celebrate in the business? So, we just kept it very small.

You can celebrate five things, 10 things. What are you proud of in your business from 2023? And then, because we had that positive energy flowing in our bodies, I said to my clients, “What do you want in the next 10 years? Let your mind go wild. List 50 things.”

There’s nobody looking at your list. There’s nobody judging your list. There’s nobody saying, “No, you can’t have that.” You get to put down anything on your list that you want. Actually, when I did this exercise for myself, before I gave it to my clients, I had little things that you might think are stupid, little things.

Like, replace the towels in my house; I have many towels, including towels that I took with me to university. That was just a few weeks ago, I know. But many of my towels have threads, and maybe it’s time to let them go. So, replacing towels, replacing sheets. Those are things on my 50 Things List of what I want.

Really, you can let your mind go wild. Pause the podcast if you want. Now, if you’re driving, of course, don’t do that. Find a safe place. But create yourself that list of wants. Let yourself dream. Let yourself dream without judgment, without people saying that you’re materialistic or not spiritual, or that’s not the way we do things in your family. We’re just allowing ourselves to be dreamers.

And that’s what I am, here for you. I am peddling dreams to you, my lovely listener, because I want you to believe that anything is possible for you. So, get your mind going and dream.

Then, we looked at our list of dreams and we put goals in for one year, three-year goals, five-year goals, 10-year goals. Then, we got a little bit more focused on our business. When you have your goals for your business… I think most people have a very challenging time, even in the big business world, trying to envision what their business is going to look like in 10 years. I mean, the world changes so much from year to year.

But when I look at my business, here I am recording a podcast for you; I’ve been doing it for just over two years. I think, three years ago I started having an inkling that I would record a podcast. But five years ago, no way. Ten years ago, absolutely not. Were podcasts even a thing 10 years ago? I’m not even sure. I, for sure, was not listening to a podcast 10 years ago.

In fact, 10 years ago, I was a financial planner and I was just starting to think about coaching. I was noticing that my clients had emotional triggers around money. I really started thinking, “I need some more tools. I need ways to get to these emotional blocks.” I didn’t even know that there was a concept called “money block” 10 years ago.

I just knew that some of my clients had millions of dollars in investments and they were terrified of talking about money, terrified of investing money. And when I would charge them for my financial planning meetings with them, if the meeting went on a little bit longer than expected…

One of my clients, who literally had more than $2 million in investments, when I charged out another $30-$40 for a session, she went ballistic on me. So I realized… Not even 10 years ago, maybe just about that time… that I was going to need some more money tools in order to help my clients deal with their emotional triggers around money.

That was where I was 10 years ago. Even writing a book; I published my book The 1K Investor, in 2019. That definitely was not on my radar 10 years ago.

So, I’m going to allow you to envision your business 10 years from now, but who really knows? But put it out there. It is beautiful to dream and to believe that anything is possible. That’s really where we tend to hold ourselves back.

Then, we got down into our one-year goals and our three-year goals. I asked my clients some really important questions, and you can ask yourself these questions too. What kind of person must I become to achieve what I want?

If you want to grow your business, you probably need to develop some leadership skills. Many of those leadership skills will include self-leadership, self-discipline. Last week, on the podcast, we spoke about constraint. I spoke about focus. I mentioned that beautiful quote by James Clear; when you are focused, you are letting go of things and mourning. It’s okay to be mourning the things you’re letting go of.

It could be that you’re going to mourn the excuses that you’re letting go of, in order to grow, to become a bigger, bolder version of yourself. In order to become a leader, you might have to stop people pleasing. I have seen this with some of my clients in the last couple of weeks, that they’re people pleasing.

Sometimes it has to do with their clients, and they’re keeping their prices low because their clients are giving them a pushback. Sometimes it’s family members. I don’t mean… especially as women; so many of my clients are moms. So many of my listeners are moms and dads… that we should be bulldozing our family and ignoring them.

No, I believe that you can have a beautiful family and a beautiful business. You don’t have to sacrifice; not yourself, not your clients, not your family, not God. We’re here to do it all, which sometimes means we can’t do it all in the same 60-minute slice of time.

But we can figure out ways to fit in more into our days, which sometimes means that we have to increase our self-discipline, increase our selfleadership. So really, in order to meet your goals, your business goals for the next year, your business goal for the next three years: What kind of person must you become?

What do you need to let go of? What limiting beliefs? Like, you can’t do it, people like you, from your family, from your neighborhood, from your background, people who look like you can’t do it; all that is rubbish. That is just limiting beliefs. Do you need to let go of those limiting beliefs, and start learning new beliefs?

A few months ago, I recorded a podcast about the 1% shift; thought work and the 1% shift. That is a very important podcast episode, if you want to go back to that and listen to how you can change your thoughts and your beliefs about who you can become.

What else do you need to let go of? Do you need to let go of excuses for starting your day late, and maybe even finishing your day late? In that way, you’re always tired and you’re in the cycle of being exhausted all the time, and then your thinking isn’t clear.

I’m not saying that everybody needs to follow that plan, where you get up at five o’clock in the morning; I’m definitely not a 5am person. But if your mornings are looking a little bit relaxed, it could be you need to roll back the time that you start sitting down in your business, from 10:30 to 10:00, from 10:00 to 9:30; or whatever it is. You look at your day, you look at your schedule, and you do the work.

Okay, so who do you need to become in order to be that future version of you? Cast your vision to the future; to a year from now, and to three years from now. That’s exactly what futurecasting is. It’s looking to the future, and who is that future version of you? Become her, today.

The faster you become her, the faster your business grows into that future vision that you have for yourself. You can literally collapse time. If you were thinking that that business will be created in three years from now, it can really happen by the end of December 2024.

The second question you want to ask yourself is: What skills do I need to develop? So many of my clients need to develop resiliency around asking for money, or resiliency when they get pushback from people. One of my clients recently had a former client reach out to her and ask about a new project. She sent the price, and her client was a bit surprised that the price had jumped so much.

All of her new clients were accepting her new price, but that old client was used to the old price. Who do you need to become? Do you need to develop the skill of resilience to write a nice email, or to say something nicely on the phone when you’re speaking with them or on Zoom? Is that a skill of resilience? Is that a skill of sales?

I got a WhatsApp message, just before I sat down to record this podcast, from one of my clients who just enrolled a $5,000 client into their business. I asked my client, “What worked? What didn’t work? What are you going to do differently next time?” What worked, was that they reviewed my Sacred Sales Conversation guidebook for 30 minutes before the call. Their client paid them $5,000, in full, for a new coaching package.

It really is possible when you develop the skill of sales. My goal is for every single one of my clients to close their sales at an 80% close rate. When you have that sales skill under your belt, it truly is possible.

The fourth question you want to ask yourself, in order to become that future version of yourself is: What fear do you need to let go of? If you are afraid of being visible, if you are afraid of haters… You know what? As you grow, there are going to be people who don’t like what you say. There are going to be people who don’t like how you dress. There are people who are going to criticize you, reject you, pass judgment on you, for no other reason than they’re jealous of you.

Maybe some of them actually disagree with you because you just have a different worldview, a different mindset. Some people might make comments because you are investing in yourself, in your self-development, your personal development, in your business growth, and they’re just feeling a little bit uncomfortable with who you are and who you’re becoming because they’re being left behind.

Do you need to overcome the fear of judgment, from friends, family, neighbors, all those people who know you up until today? If you’re willing to let go of the fear of judgment, there are 8 billion people in the world whom you can serve. Now, obviously, you can’t serve all of them. Some of them might not even speak the same language as you do. Some of them might not even have Zoom or WhatsApp, so you can’t reach them.

But you get the idea. There are even a million people, or 100,000 people in your network, you can’t possibly… There’s just no way you can serve even hundreds of thousands. Right? I mean, I guess if you’re an influencer on Tik Tok maybe you can. I don’t even know how to use Tik Tok. But that’s beside the point.

In your business, there is a certain semi-limited audience whom you can serve. So, some of those people out there who are in your orbit today just might not be in your future orbit. And if you are willing to overcome the fear of letting them go, there is so much more available for you.

Do your futurecasting on that future version of you, in one year from now, in two, in three years from now. Who is she, and who is she serving? Don’t be tied to the people who are holding onto today, be willing to let them go.

The fourth question is: What needs strengthening? Again, this could be related to the resilience around having that money conversation and quoting your prices with strength. But what else needs strengthening? Is it maybe your copywriting skills? It is very important, especially in 2024, that you have an email list that you can use to regularly reach out to your clients.

Do you need to strengthen the way you speak; shorten and condense? Do you need to be stronger around saying no to your clients who are trying to overcome your boundaries? If you have hours that you work in your business, let’s just say nine to five, and some of your clients want to be in touch with you at 10 o’clock at night.

Do you need stronger boundaries? Do you need stronger boundaries around yourself so that you know when you show up at work, when you’re with your family; you’re present at work when you’re at work, and you’re present with your family when you’re with your family? The boundaries aren’t fuzzy or wishy-washy. I think boundaries are one of those things that really, really needs strengthening over and over and over, and we just want to be able to review that.

Do you need strengthening in your day to day? I think it’s very important that when you sit down in the morning you plan out your day. What are the top three activities that I want to get done today? Do you follow your schedule? Do you look at your schedule at the end of the day and do an end-of-day review? Did you get to all the things that you said? Did you even write it down?

It’s worthwhile just looking at the end of the day and saying, “Oh, here we are. It’s five o’clock in the afternoon, I didn’t even write my plan today.” Just write down what happened as a result of you not writing down what you were going to do that day.

Did you allow yourself to get distracted? You might need to strengthen up your resolve to sit down every day and plan out your day. And of course, plan out your week, plan out your month, plan out your year. Leave a little bit of wiggle room, because things don’t always go as planned.

So, that is what I wanted to speak with you today, about future visioning, futurecasting. Really go to that future place where you have doubled your business, quadrupled your business, 10x your business. Whatever income you brought in last year, 2023, 10x it. Just imagine that if you earned $100,000, then in three years from now, you are earning a million dollars. That might be a mind-boggling number, but it doesn’t matter.

Who is that future version of you? What can you do to become her as quickly as possible? Cast your vision on the future. Don’t let everything you’ve created in the past limit you. Don’t let it stop you. No shame, no blame, no excuses. Let yourself grow fast into who you are becoming. I look forward to seeing you collapse time, and be her, as soon as possible.

All right, my friends, thank you for tuning in. I will look forward to seeing you next week on The Jewish Entrepreneur Podcast. Thank you, and byebye.

Thanks for listening to The Jewish Entrepreneur Podcast. If you want to stop underselling and underearning and close more sales, you need to clear the limiting money beliefs that are sabotaging your business growth.

Head on over to DebbieSassen.com/mindset and download my free Money Mindset Workbook. Uncover and dissolve money blocks, like hundreds of other entrepreneurs who are now building six-, multi-six-, and seven-figure businesses and creating true financial freedom.

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