👑 Cash is King 👑
Making money has never ever been the number one driver for me in setting up my own businesses.
I’ve set up a business because I’m driven to do that – and to make a difference.
HOWEVER, I have always set them up to make money.
Cash is the lifeblood of your business. Without it, all you have is a hobby! (& one that will likely be costing YOU a lot of money!)
I see a lot of people in business trying to keep their prices low. Driven by what they perceive their prospective customers can afford.
What people can afford is down to their priorities and also whether the benefits of what your business is offering satisfies their needs…
When you set your prices you need to be aware of all the costs you do incur. That’s not just the cost of materials you might purchase and ads you might place, but the time you incur researching, prepping, creating, packaging etc.
Add in a contribution that covers your overheads – you will all have some form of computer that will need replacing – all be using power, all have a website with hosting fees, theme fees, etc
You’ll have insurances, memberships, taxes etc to pay. You’ll pay finance charges, whether through your bank or via PayPal.
Don’t be tempted to start or develop your business without getting this right. Don’t start with low prices thinking you can add in all the costs at a later date…it won’t be easy to do…(you can of course make opening offers, but that is something different)
Don’t let the lack of money dominate your life. Set it up correctly from the start, so you can focus on being the best you can.
If you want to live the life you’d love, make sure your business can support you. Love what you do. Serve well and enjoy every minute 💕