How did your business start? Did you have kids and create something to fit around them?  Maybe it was something that you started, to get in a little bit of pocket money, or a hobby that turned into your main business? But now it’s up and running - are you still treating your business like a hobby? Because if you are, you’re not doing it (or you) any favours.

It’s not just about the kitchen table

The problem with working from the kitchen table is it doesn’t feel especially business-like. Often, it’s the place you need to keep clearing away so others can eat, work or study. Your family will often congregate around it and it never actually feels like anything other than the workhorse of the kitchen. 

It’s also in the busiest room in the house! So if you’re looking for space to focus, think and get serious about your business, it’s not really conducive to that.

Because when you work from a kitchen table, it isn’t just about the practicalities - it’s about your mindset too. 

Take your ...

Do you know your business numbers? It’s one of those areas of business that many shy away from, but it’s a crucial element you need to understand, if you want your business to grow and be profitable. 

So why is it so important and what numbers do you need to know? 

Make informed financial decisions

Knowing your business numbers helps you make informed decisions for your business. For starters, how will you know if your business is making money or losing it? If you know your numbers you can decide if you can afford to make investments or hire a mentor.

But knowing your numbers will also help you know if you’re on track with your business and general financial goals. You can see if you need to increase your prices to cover VAT or to better reflect the value you bring to your customers. 

And if you’re at the stage where you are considering getting someone to invest in your business, you’ll have the numbers to back up why they should consider you a great investment.

See where you’re ...

Cash flow is one of the most important things to monitor in your business. Without cash, you don’t have a business - and a lack of cash is one of the biggest reasons why businesses fail.

If you want your business to be successful, it pays to know what is happening financially within it!

Cash flow - the flow of money in your business

Simply put, that is what cash flow is. It’s the money in and money out of your business. That flow of money is the lifeblood of your business. You want a healthy flow of money because, if you have too much money leaving your business or not enough coming in, your business is in trouble.

And if you don’t know what’s happening with your cash flow, you can’t hope to know if your business is profitable or not either.

Why cash flow is important

Knowing and tracking your cash flow is more important in uncertain times. You need to know how long your money would last if you were ill or something happened and you lost key clients overnight (COVID-19 anyone?!)....

When it comes to pricing, everyone wants a deal. But that doesn’t mean you should discount your prices. Pricing is as much about confidence as it is about finances. If you’re confident about your pricing, you’re more likely to appreciate the value you give to your clients and less likely to be hasty over discounts. 

If you’re looking to increase your confidence around pricing, here’s a few things to bear in mind.

Pricing is about confidence

You have to be comfortable with the prices you set. If you’re not, it’ll show in your sales pitch and reflect on how visible you are. A lot of this is down to confidence - confidence in your pricing and your abilities. If you don’t think you can deliver what you’re promising, it doesn’t matter how low or expensive your prices are. 

But it’s also how others perceive your pricing too. Price too low and your ideal clients may worry about the value of service they’ll receive. Underprice, and you run the risk of attracting the wrong type of customer....

Do you track your hours? Unless you provide an hourly-based service (such as administrative assistance or transcription and editing services, for example), it’s highly probable that you don’t. However, when it comes to improving your working practices and charging your worth, it’s something you really should consider. Here’s why.

Do you need to track your hours?

It’s so easy to get sucked into spending a whole load of time on a project or task that isn’t that important. Maybe you find yourself working too many hours and need to know where to cut down. And just maybe you have no clear idea on how to price your products and services, simply because you don’t know how long they took you to create. 

Tracking your hours is crucial to your business efficiencies, working practices and your working routine. It helps you know several important things about your business and how you work, including:

• Where you’re spending your time.
• How you’re organising your day.
• What you need to improve...

As a topic, pricing is one that often leads to the most heated conversations amongst business owners. However, it’s also an area that a lot of people struggle with and have questions about. But if you want your business to grow and earn you a decent wage, pricing is something you need to consider and talk about. And if you’re still looking to price by the hour, it’s a conversation we need to have!

Last week we looked at one of the biggest pricing dilemmas - the importance of putting your prices on your website. Now, we’re going to look at why it’s so essential that you don’t price by the hour and what other options are available to you.

You need to know how much per hour it costs you to run your business

No matter how you price your services and products, It helps to know your hourly rate. Primarily, this is so you can accurately reflect the time spent on something and factor that into your pricing decisions. It isn’t a figure that you share with your clients, nor is it a figure tha...

As a topic, pricing is one that often leads to the most heated conversations amongst business owners. However, it’s also an area that a lot of people struggle with and have questions about. But if you want your business to grow and earn you a decent wage, pricing is something you need to consider and talk about. And if you’re still looking to price by the hour, it’s a conversation we need to have!

Last week we looked at one of the biggest pricing dilemmas - the importance of putting your prices on your website. Now, we’re going to look at why it’s so essential that you don’t price by the hour and what other options are available to you.

You need to know how much per hour it costs you to run your business

No matter how you price your services and products, It helps to know your hourly rate. Primarily, this is so you can accurately reflect the time spent on something and factor that into your pricing decisions. It isn’t a figure that you share with your clients, nor is it a figure tha...

Pricing is a very controversial subject for many businesses, especially when it comes to advertising them. So do you put prices on your website? Or are you firmly in the ‘no prices on show’ camp?

I recently carried out some research on pricing in my business community and it threw up some interesting opinions.

So, I thought I’d give you an overview of those opinions, along with my view on the subject.

Why don’t people put their prices on their website?

If you’re not putting prices on your website, it’s normally down to one of the following three reasons: 

• You want to demonstrate the value you give, first, by getting potential customers on the phone.
• You want to show why you’re better than your competitors and having prices on your website detracts from that.
• You don’t want competitors knowing your prices, as they may undercut you.
• You also don’t want to be open to judgements and opinions about what you should have your pricing set at, because of what others are charging.
• You...

In my line of work, I speak to a lot of business owners, and one thing is clear. So many of them are burying their head in the sand when it comes to their business numbers. And, if you don’t know how much it costs to run your business -  it’s a big problem for you too.

You need to find clarity around your numbers if you want to manage your business effectively. Because, not only will it help you transform your business, but it will also free you up from a lot of stress and overwhelm!

So, what do I mean by numbers and is there a way to work out the numbers you need?

Let’s look to get some clarity around it.

Do you know your business numbers?

Have you looked at how much it costs to run your business? When you run your own business, it’s easy to get sidetracked on the marketing numbers you need to get a good ROI on your advertising - such as conversion rates and email open rates etc.

But you also need an idea of your minimum costs for your business. Numbers like how many hours you c...

Do you know what pricing personality you are? These four personalities are something that can help you see your weaknesses and issues around money and pricing. They also indicate how to remedy them, making them super-valuable to your success.

Because let’s face it. If you want to become a more successful business, you need to understand where you’re losing money through your actions and beliefs.

As mentioned in Tackling your pricing gremlins, your pricing personality can play a big part in identifying the limiting beliefs and traits you have around pricing. You can then look to tackle the pricing gremlins that have been plaguing your business and holding you back.

So, if you’re wondering what those four pricing personality types are, here’s a quick rundown on each.

Pricing personality #1: Overpricing Orla

As an Overpricing Orla, you’re pricing based on what you believe you’re worth, but you’re not necessarily showcasing the social proof to match, so people won’t pay it. You find y...