Episode 33: How Much Money Do You Need to Make?

Trying to figure out how much money you need to make in your services-based business? If you’re a freelancer or working with clients, you’ll want to give this episode a listen to nail down how much you really want to make and how to get there. PIN this podcast episode for later!

Money, money, money….money! Today we’re getting real about the cash, the green, the dolla dolla bills and answering the question how much money do you need to make? Money is a hot topic and with good reason as you need money to have a sustainable and successful business.  Let’s break down the rice and beans budget and more.

Here’s the scoop from episode #33:
  • To have a viable and sustainable business, you need to be making money; otherwise it’s a hobby
  • Knowing how much you need to be making is a very subjective question; there is no right or wrong answer
  • We talk about the rice and beans budget number: what is it and what does it mean for your business revenue?
  • We don’t talk about this number because we want you to stay there, we’re talking about how to use it as your baseline and get past it
  • What is your happy number and how do you reach it?
  • After you have these baseline numbers, it’s time to look back on your past numbers and see where you are; we talk about why
  • There are always things that are going to be a cost of doing business: we talk about why this time isn’t billable and you can’t count it as hourly income
  • If you’re not happy where you are once you break down your numbers, we talk some strategy to work on getting there
  • If you have people paying your current prices and they’re happy with the work you’re doing, you can probably increase this for future clients and future work
  • We talk about taking on employees in order to scale your business and why and how you should or shouldn’t do it

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Links for this show:

Get Rich, Lucky Bitch 

Denise Duffield-Thomas on the Marketing Moxie Show

Sacred Success

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