3 Reasons Why You Are Not as Profitable As You Want to Be

3 reasons you are not as profitable as you want to be

Step into almost any circle of business owners and you will find a varying array of smoke and mirrors and tall tales about making money and “killing it”.

The focus is on top-line income and often a great deal of ego-puffing either out of arrogance, or more frequently in women business circles, out of a fear of being found-out.  Found-out that maybe just maybe there is more uncertainty, fear, and frustration behind the walls of our private space than we’re willing to let the world see.

So we find ourselves late in the evening endlessly scrolling past those business owners flowing through our Facebook feeds professing to have the revolutionary answer that will instantly launch our business into the stratosphere all while sipping mimosas on a sunny deck while overlooking the ocean after having spent the most amazing day with clients.

And we wonder why am I not as successful as THAT?

Well, first off, let’s remember that social media is simply a highlight reel and an extension of the smoke and mirrors I mention above.  Then, realize that fundamentally, you might not be doing anything wrong, but one or more of these 3 reasons may be keeping you from the profits you deserve.

Not Regularly Reviewing Your Financials and Metrics

When was the last time you looked at your numbers?

Even if you are not a numbers person, as a business owner you MUST look at financials regularly. Click To Tweet

Even if you are not a numbers person, as a business owner you must (and I mean MUST) look at them regularly.  You can delegate responsibility for all the boring data entry. You can hire a consultant to help you interpret what they mean. You can whine all you want about being a creative, soul-centered, right-brained person who isn’t good at math.  But you cannot abdicate responsibility for this part of your business.

Looking at these numbers regularly can help you answer key questions such as:

  • How much income am I making?
  • How much am I spending to run my business and where is my money going?
  • Is cash flow sufficient to keep the doors open?
  • Who are my most profitable customers?
  • Can I afford to hire a team member/employee?

And more…

If you’ve ever wanted to keep more of the money you’ve earned, this is where to start.

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AEP-019 Digital Addiction & Entrepreneurs

AEP-019-digital-addiction-800

Does being without your phone make you anxious?  Are you trying to keep up with the vast volume and velocity of information thrown at you each day?

If so, the digital age just might be damaging your discernment and covertly undermining your best efforts for success.  Listen in to find out why.

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Do You Feel Behind Before You Even Start the Day?

Feel Behind Before You Start

If every day is a clean slate, then why is it so packed before my feet even hit the floor by my bed?

I was recently having an online conversation in the private Facebook group I manage for the How to Prioritize When Everything is a Priority: 7 Day Solution.

One participant shared how she likes to space out appointments and consciously give herself enough time between client commitments.  Yet even with all these careful calculations she said: “Sometimes I get completely booked up and wonder what the heck happened!”

Can you relate?

You would think that being a self-employed business owner would make the days of wayward, triple-booked calendars a thing of the past.

Yet I have many-a-client tell me that their to-do list feels like someone jumping them in a dark alley.

How did that happen?

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AEP-018 Dyan deNapoli-The Penguin Lady

Active Entrepreneur Dyan deNapoli - The Penguin Lady

What could be cooler than taking several career leaps of faith to pursue your dreams?  Working with penguins, rescuing tens of thousands of them, and now working tirelessly to raise awareness and funding to protect endangered penguins.  Today we talk with Dyan deNapoli, The Penguin Lady.

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Stop Trying to Get All Your Ducks in a Row

Got Your Ducks in a Row?

Have you ever tried to chase a flock of ducks and get them to do what you want?

There you are in your weekend best sweatpants running with Kennedy flair at the park saying:

“Here Donald line up behind your friend Daffy and by all means behave!”

How did that go?

More importantly… do you have a video of that? (I am certain it will go viral on YouTube and make you an online legend).

Silly, right? Yet I can’t tell you the number of times I hear business owners say that just as soon as you:

  • Organize your house, office, and papers.
  • Figure out your brand (in isolation) as you agonize over your business name and logo (which, by the way is not your brand, only one representation of it) while being adamant about having to learn more about websites.
  • Sort out your business model, plan, and projections to the 9th decimal place.

THEN, you’ll be ready.

Except, as soon as THEN arrives,  there will be another list of 10,000 things that need attending.

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How to Prioritize When Everything is a Priority

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