You can turn this blindspot into a huge opportunity to improve your business.
Want to know how? Keep reading!
Ps. If you're like...Whoa, whoa, this isn't sounding like me at ALL, no probs! Check out the other results here and pick the one that suits you most. You're a complex human after all!
It’s amazing that your motivation is so pure and comes from a place of just wanting to make great things, but it’s also important to remember that if you want your business to be sustainable, the financials have to make sense. That doesn’t make you money-hungry...it just means you want to earn a living doing what you love.
By learning to estimate your profit before you start a project, and by becoming more confident in what you charge, you can fuel your business with the revenue it deserves so you can keep creating and keep pursuing your mission.
Do you know how much money it takes for you to maintain your lifestyle AND make a profit in your business? If not, this should be the first number you calculate. You won’t know how to price your products/services strategically unless you first set a financial target to aim for. Once you know this number, do the math on how many clients or how many products you can realistically reach with the amount of time or the size of audience you have. Then work backward on what you need to charge to make that amount.
We get it, selling isn’t the most comfortable thing for most people. But it is an integral part of running a business. If you really believe in the things you’re creating, then you can just see selling as your way of introducing something great into the lives of people who will appreciate it. Remember, don't sell yourself short! You have something valuable to offer and someone out there wants to pay you for it. Go out there and find them!
This might be the hardest but most valuable strategy for you to implement. You need a process for evaluating whether an idea is worth pursuing. Before you begin each project, do a quick input/output exercise to compare how much time and effort you’ll be pouring in and how much financial return you’ll get out. If you’re spending all month working on something that brings you $500, then you know it won’t be sustainable in the long-run and your time is better spent on something else.
We are best friends 👫 and business partners 🤝who have been at this online business gig for years—him for over 10 👴, her for over 5 👵. We technically met on Twitter in 2010 🐦, when Caroline was just a college advertising major 🎓and Jason was at the height of his first crazy entrepreneurial adventure where he earned $1,000,000+ wearing t-shirts 👕 for a living (Yes, really! Google it.🔍) We've been together ever since, and we made it official by eloping on a cliff overlooking the ocean in March of 2017. 🌊⛰👰🤵💍🍩🍹💞
Her superpower is self-awareness 🧐; his superpower is action-taking ✅. She's an Enneagram Type 4 (Individualist)🎨; He's an Enneagram Type 8 (Challenger)🙅♂️. His guilty pleasure is Dragon Ball Z 🐉; hers is anything Bachelor-related.🌹