Oh yeah, this just might be my favorite blog post yet. As many of my peeps know, my UP Talks brand (founded in Boulder, CO in 2013) has two main brand attributes: “Uplifting” and “Provocative.” That’s the UP. So my content will often convey said attributes. Today, I want to talk about new ways of thinking about our businesses and how we run them
- Get Crystal Clear on Your Desired Lifestyle First. Instead of creating your idea and marching forward to launch in a haphazard way, which can lead to overwhelm and burnout, and the world missing out on your gifts, start with “What kind of lifestyle do I want to live?” and then ‘back’ your business into that vision. Yep. Drop all self-doubt and the “who am I to work only 3 days a week!” or “I couldn’t possibly make it happen while working half-time in Italy” gremlin-speak, and claim that lifestyle FIRST. If we don’t have freedom and flexibility on our terms, what’s the point in working for yourself?
- Get Your Financial House in Order. Make the assumption that it is likely to take 18-36 months before you’ll be making solid, predictable income, and get real about how you’ll support yourself in the first 3 years. Borrowing money, using savings, or working a part time job are all viable options, but using that money intelligently is crucial, so make this Step #1 when working with a business coach. Your business coach can provide a customizable business expenses spreadsheet so you have clarity on your bottom-line startup costs per month, plus an average of 25% self employment taxes, minus your desired income. This step will inform the next.
- Decide How Much You Want to Earn before Designing Your New Business. For example: Let’s say you help people kick the sugar habit and want to offer a 60-day program. Instead of asking your business coach “How much should I charge for the program?” start with questions like: How many people do I want to serve? Do I want to be in person or virtual with my clients? How many hours/week per client will my program require? And “how much money per month do I want (or need) to earn?” If you choose to earn $10,000/month and can serve only 5 clients per month with the focused attention they need, then boom, you know how to crunch your number.
Don’t hesitate to engage a business coach to help you design, position, and launch your venture so it’s as liberating and lucrative as you want it. If you’re ready to launch your next venture or seriously pondering your Next Act, book a free 30-min call with me to learn about my 6-month Sustainable Solopreneurship Program which starts early 2020. I guide 5 women per year into this program, which is 80% one-on-one strategic and tactical support from me, and 20% group support from others in the program.