Do what you love and make money, wouldn’t that be nice if that a.) it was true and b.) it also meant that money comes flowing in automatically?
It is possible and it can, but obviously not when we are sitting on the couch and do nothing. A few extra steps are needed. Money comes flowing in when it is actively pursued and it doesn’t when you neglect to do so.
Let’s take a closer look at if and how making money is planned into the daily schedule by the example of an average business owner. Many of you have figured out how to pay your bills, but there is still a difference between doing what you need to survive and generating real income. What do I mean by that?
Many of my private clients are creative entrepreneurs, or professional photographers who traditionally can and often do have a tumultuous relationship with money and don’t like dealing with it – period. They tend to look at their work as an art form and while they know it’s a business they don’t treat it like that. I get it, being creative means doing it because you can be artistic and express your creativity. Sound familiar? Only problem is: creativity doesn’t equate to paying the bills – cold hard cash does.
Our attitude about money has a huge impact on our cash flow and our bottom line. That’s why the first step I recommend you do is to watch how you talk about money. Do you think rich or poor? Here is a hint. If you keep saying that the economy is so bad – you are in the latter category. A rich man or woman’s mindset isn’t just about taking pride in your work, but also allowing your gifts and talents to bless you (richly) in a monetary sense. If you are passionate and proud of your work, then shouldn’t you deserve to be adequately and richly compensated? When I heard famous Jack Canfield, the co-founder of the most successful book series “Chicken Soup” speak once, he pulled a stack of dollar bills out of his pocket and showed it to the audience. He shared that he needed to feel the stash of hundred dollar bills in his pocket to create that sense of feeling rich! I loved it. What is it going to take for you to walk around feeling “rich?”
Tips to help you get there:
* Planning is key. Even if you start small, and your numbers are far from thrilling, get them down on paper, in a spreadsheet. What do you want your income to be in the coming months and years?
* Examine your current set of numbers and figure out which aspects of your business are making or losing money. Concentrate on the area that generates most of your revenue, and then double and triple your efforts where they will produce the most money. This is also known as the fastest way to the cash.
* Determine if your business is the real thing or a hobby. When you start a business, you generally have two to three years to get it to the break-even point and then generate a profit. If it isn’t doing that after three years, it’s considered a hobby.
* Remember, mind your mindset. Be so into what you do, and deliver such Class A service, that your clients or customers won’t even imagine going to anyone but you, because you take such pride in your work and do a great job.
Allow money to flow in. It often helps if you replace a negative thought, maybe it’s being broke, with a simple statement of wealth: I am wealthy in every way and I enjoy my financial success. Keep thinking this way and you will be closer to reaching your goals!
Let me know if you find this article helpful. Here is to your success.
Your PhotoBizCoach
Beate
Beate, I just wanted to thank you for your inspiration, your knowledge based on your experiences, the wisdom that you so inherently possess and are willing to share. Thank you for inspiring me to do things that I new were within myself but could not shake out.
Thank you, you are the best.
Thank you Daniel, I appreciate the fantastic feedback. Now back to work – I expect great things from you… 😀