it's not about the money
We are so freaking lucky to do what we love. To wake up and get to go do the thing that lights us up every day?! to not have to punch the clock for someone else’s vision? it’s priceless, truly.
Those are the thoughts entrepreneurs have on a good day.
But when the tables turn, resentment kicks in. Thoughts of the fabled security of a “real job” surface. The mental math of how much you are paying yourself for how hard you work is ticking in the background.
These are the dark thoughts in the middle of the night. And these have more power than you think.
Towards the end of my burnout with my former company, I would pull into the parking lot and think, “hmmm. If this place just burned down I wouldn’t have to deal with this anymore” (the building DID burn down years later in a creepy full circle way.)
These dark thoughts are actually trying to help us. Resentment is showing us a boundary WE have crossed. They are flairs going up to alert us that things are not right.
And when I say “things” I mean the money.
And I know you didn’t get into this for the money. You may even be an anti-capitalist at heart and wish you could help everyone for free. Trust me, me too. (HOLD this thought because none of us want to become cold-hard-blooded suits and there IS A WAY to keep this spirit alive in your business)
But it can only be a small part of how you run the show.
A business needs funds like you need oxygen. You need a livable wage and to be compensated fairly just like your workers. It is non-negotiable.
And chances are if you are having trouble paying yourself, have cash flow problems making payroll, or are just stumped at the end of the year how low your profits are, there are some KEY things missing.
PRICING: likely you are not charging enough for your services or are not executing them efficiently. Either way somethings gotta give. I would love to see your profitability by service TYPE and see where you are spending your time.
CAPACITY: if you are at capacity AND having these problems - you have to ask yourself, is there a way I can increase my capacity? Or add capacity by adding staff? Am I truly operating in my Superpowers only? Or am I wasting time doing a bunch of shit I am not good at and hate?
BOUNDARIES: Likely you are going above and beyond for your clients with services that are outside the scope. Or adding travel or other things you might not be charging for. Remember giving someone a gift and then hiding it from them under their bed is not generous. No one knows it’s there. If you want to give someone a discount, do it as a line item, not an invisible favor.
This and MORE is what we dive into with Financial Deep Dives. The beginning of the year is the perfect time to get curious about what happened last year and what we can shift to change the trajectory. These are all REALLY simple shifts that can change EVERYTHING!
