Which of these four mistakes are sabotaging your business or freelance success right now?
The realisation that your business or freelance career isn’t quite working out the way you’d planned isn’t a fun one.
You might look back at your last few freelance projects and see that the clients weren’t the type you want to be working with, or the hourly rate far too low. Or worse… you might not have any past clients to look back on and feel like you’ll never create a consistent income.
Or you could be running a business that is sucking up ALL your time, but not repaying you with a healthy bank account. You suspect you could earn more in a minimum wage job but are afraid to work out exactly how much you’re making per hour!
If this sounds familiar, please don’t worry. I’ve been there too. In fact, pretty much everyone has!
And while it’s a scary feeling, there ARE positive, do-able actions you can take right now to start turning your business or freelance career into what you want it to be.
Which of these four mistakes are sabotaging your success right now?
Over and over again I see people making the same mistakes in their business or freelance work. These mistakes are attracting the wrong people and keeping you from making the money you deserve.
So in this article, we’re going to go over four mistakes that are stopping you from making the money you want, and give tips to help you earn more without working even harder.
These are mistakes that everyone I worked with has made, and some of the first things I look for when helping them transform their businesses. Fix these leaks in your own, and sometimes you can see dramatic improvements very quickly.
1) No sales plan
If I had to pinpoint the biggest money drain in any business or freelance career, it’s this. The truth is that you won’t GET sales unless you DO sales. But too often we’re scared of the S word.
Why? Because we don’t really understand what ‘sales’ involves. Or we think that it’s a dirty word, associated with sleazy second-hand car or door-to-door salesmen!
But the good news is that sales are actually really easy, AND they feel nice (for you and your customers) when you get them right. When I finally mastered sales (and stopped ‘hiding my bananas), Talented Ladies Club really took off, and started making serious money.
So how can you get comfortable with sales? Our Campaign Masterclass takes the mystery (and fear) out of sales by explaining the process and giving you a structure to follow.
Or you can book a free ticket on our online Shortcut Summit (running 11-13 January). Sales is such an important element of success, and one so many people struggle with that we’re running three sessions to help you:
- How to build a brilliant sales funnel for your business or freelance work in 28 minutes
- Why you don’t like selling: How to feel more confident and less salesy
- How to get your first 100 sales online
2) Poor money management
Heard the expression watch the pennies and the pounds will take care of themselves? This is never truer than when you run a business. Because if you don’t watch your money carefully, you’ll never make enough.
As much as we’re taught not to talk about money, it’s essential when you run a business. Because making money is exactly what defines a business, and separates it from an expensive hobby.
So how can you manage your money properly? In the Shortcut Summit Rosie Forsyth from Wilkins & Co shows you a really easy way to do your accounts in just 15 minutes a week. By following Rosie’s system you’ll know exactly how much you are earning (or not!), where your sales are coming from, and what you are spending money on.
This will help you make the right financial decisions – the ones that earn you more money – and stop you working hard on a business that will never pay you a decent profit.
But there’s another important, psychological reason why you need to stay on your numbers: it focuses your attention and energy on moneymaking activities, enables you to set accurate financial goals, and increases your resolve to bring in sales. This alone can ‘magically’ transform your profitability in our experience.
3) No one knows what you do
It doesn’t matter how brilliant your products or services are, if no one knows they exist then you’ll never sell them.
From many years now of observing and working with freelancers and small business owners, I’ve noticed an important decider in success: the businesses who succeed aren’t always the best at what they do; they’re the best at marketing what they do.
Because another big truth is that you can sell a crap product with great marketing, but you can’t sell a great product with crap marketing.
That’s why so many sessions on our summit focus on marketing and PR – both important ways to reach your ideal audience and let them know what you do.
Check out the Shortcut Summit sessions by Emma Rundle, Natalie Trice, Nicola Huelin, Sapna Pieroux, Louise Webster, Caitlin Pieters, Kerry Coleman and Sarah Hughes for brilliant shortcuts to letting the world know you exist, and how they can buy from or work with you.
4) You don’t work smartly
Do you know what the most precious but finite asset in your business? No, it’s not money: it’s your time! YOU are your business’ secret weapon, and yet you have a limited amount of time and energy.
Spend that time and energy poorly and you’ll be like me a few years ago – disappointed, frustrated, exhausted, resentful and struggling financially.
But spend that time wisely, and your business will repay you handsomely. You’ll love what you do, have ample free time to spend with your family and any other activities that nurture you, and you’ll tap into that majestic financial abundance that comes when everything ‘clicks’.
When you establish the right systems in your business and eliminate the psychological barriers holding you back it’s like turning on a tap. You can’t believe it’s this easy or enjoyable to run your business and make money.
And to help you turn on your own tap, we’ve arranged a number of sessions that help you master productivity, get over emotional blocks and create new income streams that release you from the time-money trap. Watch the Shortcut Summit sessions by me, Phanella Fine and Bamidele Adenipekun to find out more.
Choose one mistake and take action now
So what should you do now? I recommend looking back at the four mistakes, choosing the one that is currently affecting you the most, and taking action on it!
And for much more help making your business or freelance work more simple and profitable, check out our FREE Shortcut Summit. We’ve got 16 experts lined up and ready to teach you everything from pricing and sales, to social media and mindset so you can unlock your business’ true potential and profit.
Some speakers you might recognize include:
- Joy Foster from Tech Pixies
- Phanella Fine (formerly of Step Up Club)
- Nicola Huelin from Mpower Mums in Business
- PR gurus Natalie Trice and Sapna Pieroux
- Louise Webster from Beyond The School Run
…and a whole lot more!
We kick off on 11 January and this is one event that you can’t afford to miss. Click here to learn more and secure your free seat (you’ll also fid out how to get £429 of bonuses for just £49). I can’t wait to see you there!
Photo by Finn Hackshaw