Do you want to hit 2023 with a bang? Do you know where you’re headed in the next 12 months? Planning is so important for your business, because without a plan you will not hit those goals, won’t know what content to create and will not understand where your business is going.
And with no way of being able to plan or make decisions to grow your business, you’ll just end up sort of bumbling along with no actual way of making the money you want or getting your business where you want it to go.
Now we’re getting towards the end of 2022 you need to start planning for 2023. It's really important to get a plan in place so you can look at everything from pricing to through to outsourcing. Do you want to outsource some client work or hire a Virtual Assistant? How will you know if you can afford to grow your business and how will that look? For example, what do you want to do more or less of, in your business?
How do you go about pricing in a recession? It’s going to be a difficult time for many people, especially as prices are going up and inflation is at a record high. So how can you effectively grow your business when things are so tough right now?
You have to remember that, although it’s a difficult time for some people, it’s not awful for everybody. And the recession won’t heavily affect some business owners. And a recession doesn't mean that businesses aren’t investing in your services - people are still spending.
But I know what it’s like. You want to continue helping people during a recession, but you don’t want it to adversely affect your business. So here are some tips to help you continue helping your clients, without neglecting your bottom line.
Not every market is created equal. Start by thinking about your market. Are your products or services classed as a luxury service or is it...
There are so many online business myths and success stories doing the rounds. As an online business owner, you cannot fail to see them or be attracted to them, as the online world is rife with promotional campaigns promising solutions and strategies to help you create the business and life of your dreams.
It can be incredibly difficult to know what is and isn’t real, especially when you’re only being given half the story. That’s why I loved chatting with Teresa Heath-Wareing recently. Teresa helps business owners from all around the world create a business and life they dream of, not what the rest of the world tells them they should have. Because success isn’t always about six figure launches and working from a beach - it’s about creating something that fits in with you, your family and your life.
When you define success, it often equates to a financial figure, but it doesn’t have to be a...
Are you ready to outsource or take on an employee in your business? It’s a question many entrepreneurs have but are terrified of exploring, especially when they’re ready to grow. And at first glance, it may seem that an outsourcer is your best option - but is it the right option for you and your business?
It’s a subject I’ve recently been chatting with Victoria Johnson about. Victoria runs Green Jay Group company and helps STEM startups get their people and culture how they want it to be. She also offers one-to-one leadership coaching, helping founders of businesses decide on the best ways to outsource, because it isn’t always easy deciding between hiring an employee or outsourcing to a freelancer.
Many business owners are eager to get started. They operationally need to grow and want help to clarify options. But before this point, there is a need to make those strategic decisions first. Can you afford to hire? What can...
Batching is so useful for you and your business. And at first glance, you might say it has nothing to do with pricing. But actually, it makes an enormous difference to you, your business and the prices you charge. Because we all like to think we can multitask, but if you want to create your ideal business, you need to drop the multitasking and start embracing batching instead.
No matter how much you may try to convince yourself otherwise, multitasking is not a good option. It’s really difficult to flick between different tasks all the time. Not only does it play havoc with your focus, it also produces less than stellar results.
Batching helps you keep your focus on one thing. It stops you getting distracted, and it makes it easier for you to block your time according to your energy. And that’s both practical and smart. For example, I don't work Fridays, so I can block that time off completely. However, I know my energy for focused...
When you start your own business, you want it to do well. That’s why it’s so important to build it on the right foundations. Those pillars provide stability for your business to grow on. And it’s no different for your financial system. It, too, needs to be built on the right foundations. Because without it, you’ll find yourself and your business floundering.
There are four key pillars to consider for a sound financial system to be put in place. Otherwise known as the 4Ps, these are pricing, profit, performance, and planning. So if you’re looking to get your business onto solid financial footings, keep reading to find out more about each of these pillars.
This is the main one I talk about the most because it’s so important. If you can get your pricing right, particularly in a service business, other things will follow. Getting your pricing right means you can pay yourself more, earn more, and pay other people to...
Running an online business isn’t as easy as you often think it will be. Marketing is one skill many small business owners struggle with, especially when it comes to audience growth and converting those followers to sales. But often, once you’ve mastered marketing on one platform, you can transfer those skills across all other social media platforms.
If you’ve wondered how to make money from an online audience, you’re not alone. I recently chatted to Helen Perry about this on my podcast. Helen helps other small businesses with their content marketing on Instagram and via email. She shared some excellent insights on the reality of making a business from an online audience. So if you’re looking for some tips on how you can use social media to grow your business, keep reading!
As with anything, growing an audience takes time, and there are no shortcuts. You need to take your time to really understand the...
Do you have a contingency plan in place for your business? It’s a subject that can seem quite boring and one many business owners avoid. But it’s an important and essential thing to think about. Because you can’t always forecast when you’re going to need to take time out from your business - but you can have a plan in place that helps cover most scenarios.
So as a bit of background, I’ve been going through treatment for breast cancer recently. And when faced with my diagnosis, I also had to decide what to do about my business. Obviously, it’s not the most important thing to be thinking about when you're diagnosed with something like cancer, but it was important that I try and keep working during this time. Because I'm at home all the time, there's no risk associated with me working, but if I was in an office or something like that, there might have been.
But when you’re faced...
There are loads of pricing myths out there in the online world. From pricing low when starting out right through to only being able to price per hour, these myths only serve to keep you stuck at a money ceiling of your own making.
So let’s bust 5 of the most popular pricing myths coaches and consultants, in particular, come up against.
Prices change all the time, and it’s never a just once done kind of thing. After my recent podcast chat with Osmaan Sharif, I started putting my prices up after every 5 clients. When it comes down to it, pricing really is just trial and error.
The only way you know if something is the right price is a) if it earns enough for you, and b) whether somebody’s prepared to pay for it! If it’s perceived to be too expensive or not provide enough value, people won’t buy it.
You must think about where your products and services fit in your process and how you...
Selling to Corporates is something many shy away from. There’s a worry it’s complex or challenging to sell to Corporates - and in many ways, that’s true. But it’s also a significant way for you to grow and scale your business. Corporates tend to be more expensive, and you can charge more.
I’ve recently been talking with Jessica Lorimer over on my podcast. Jessica specialises in helping entrepreneurs sell into Corporates and can help you see how adding selling to Corporates can become a revenue stream for your business.
A Corporate is an organisation that has multiple permanent employees on its books. They work to provide their end-users and customers with a specific service, product or experience. They aren’t defined by how much they earn. A solo entrepreneur can sometimes earn more than a Corporate! It’s the staff component that makes the difference between a solo entrepreneur and a Corporate.