If you're an entrepreneur, I'm positive that one of the reasons you started your business was so that you can live the life you want to be living. Am I right?
Oftentimes though, the way we build our business (the way our services are designed, how our time is spent or how our systems are developed) can take away from the actual profit we earn, taking us further away from the freedom life we're seeking.
When I learned what I'm about to share below, my business and life completely changed. However for me, there were years of doing things the wrong way first, and THAT is what I aim to save other women in business from.
Below are some common areas I aim to help women master so that they can go from surviving to thriving in their business. Allow my hindsight to be your foresight.
Common Mistakes of New Business Owners:
1. Only One Product/Service
In my opinion, (and there ARE differing views on this) offering only ONE product or service in your business has you putting all of your eggs in one basket. My first rule of freedom-preneurship is to diversify your sources of revenue for many reasons, including stability in times of uncertainty.
2. One (Time Consuming) Client at a Time
Get a client - YAY! Work with client - PHEW! Need New Client - AHHH!
If you're finding yourself giving all you've got to your ONE client every time you get one, and then feeling like you're at a loss when you're done - that's a problem. It's exhausting, not sustainable, and not abundant.
3. Only Offering Products or Services that have You Trading Time (yours or a staff member's) for Money
With this one, you have to know that I'm not suggesting you stop offering services that have you trading time for money. Many businesses are based on this model and require this as a foundation. What I AM suggesting, is that you add on others where you're not, and maximize the ones where you are.
So you may be reading this and feeling like: "Oh no. This is exactly my business." Which is TOTALLY fine because that's where it all starts. If you're looking to move BEYOND that, here are some ideas.
Funnels are KEY. I'm not talking email funnels here. I'm talking strategically placed parts of your business that guide your ideal client through a journey. Each step of your funnel can and totally should be a profit system, while also serving your clients with exactly what they need in the moment.
2. Seasonal Offers
I'm looking beyond holidays with this one - although those are great too!
It's important we look at different SEASONS that affect our business and why. We need to understand why people purchase what we offer and when - and plan our year ahead accordingly. For example, what season is a new entrepreneur in come August, V.S. January?
The question I always like to ask myself is - how can my business be of greater service during these times?
3. Time Leveraging
VERY important. How can you start duplicating yourself in your business through SYSTEMS? How can you start reaching more people without investing more time? Maybe it's with group coaching, subscriptions, a sales team etc. You'll know what's right for you and your business, but figuring this out early on can be a game-changer.
While I can't offer everything I know in a blog post, I'm certain that even looking at these three areas can completely transform the trajectory of your business and lead you further toward living the life you want to be living.
If you feel like you could use guidance, tools and a plan with mapping all of this out, applications are OPEN for the Beautiful Business Program, and it could be EXACTLY the thing you need to move your business and life to the next level! Check it out!
In Happiness & Health,
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