Making Money Happen in Your Business
My last blog asked this question: What is money anyway? And why should we put thought into the value of money?
A business’s main “business” is to make money. Otherwise, it’s a very expensive hobby. Several of my clients are sole practitioners. They went into business for many reasons, they lost a job, decided it was time to branch out on their own, wanted to be in control of their income. All really good reasons.
Yet, what a lot of them struggle with is how to make money in their business. And what exactly to do to make money. There sure is a lot we can say about this but for our purposes for here and now, let’s stick with charging for what you are wanting to sell. That’s as basic as I can get to help you make money happen in your business.
Charging for your services
The best way you can make money for your business is to sell your services. Which means you need to charge for them. You need to say for x I charge y.
For all of that to happen you need to know what your costs are. Again, my last blog talked about that. Basically you need to do a cost-analysis so that you know without a doubt how much it is costing you (as in paying out money) to run your business. We do pay to sell our services.
You pay for things like rent, utilities, software, support (an accountant, assistant), office supplies and the like. If you are producing something like a workbook even, there is a cost to that. That cost needs to be included in what you need to charge for your services.
Pricing is a sticking point for so many small business owners. And in order to actually make money, you need to bring in MORE than you are shelling out.
Action time: take a look at what you are selling and how much it costs you. Then subtract what it is you are pricing it at, are you ahead or behind?
You need to be ahead by at least 10% or more to make money happen in your business.
The value of you
While a business is it’s separate entity. You often bring the value of you into it. And therefore your value of money as well. Your mindset is paramount to creating a successful and thriving business that has you making money happen in your business. How we do one thing in one area of our life falls into other areas of our lives. If your money mindset is a little on the negative side, it could be hindering you a lot. If you struggle to charge what you not only are worth but what you need to make in your business, are challenged by money actions and/or need to consult with money before you make any decisions, a money mindset upgrade will do you and your business a world of good!
Get your Money Mindset Upgrade now! I offer complimentary Business Blueprint Sessions. In this session, we’ll upgrade your money mindset so that you have a successful and thriving business now! My gift to you. I do this because I am committed to helping service-based business owners step authentically into their business their way! I also value helping business owners, like you make more money.
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