Understanding Direct Costs What Are Direct Costs? Let’s kick things off with direct costs. These are the expenses that you can directly tie to the creation of your offer. Think about things like materials, production costs, or services you hired out. This is the first step in calculating the real cost since it all starts […]
Understanding the Cycle What is the Feast or Famine Cycle? Hey there! If you’re anything like me, you’ve probably experienced those ups and downs in your work or income. One minute, your calendar’s packed with projects and the next, you’re staring at an empty inbox, wondering where everyone went. This phenomenon is often called the […]
Assessing Your Current Financial Situation Take a Good Look at Your Budget Okay, let’s get real for a second. The first step in pulling yourself out of a financial rut is to honestly assess where you stand. Grab a notebook or open up that budget app on your phone. Jot down all your expenses from […]
Understanding Your Current Financial Situation Assessing Your Income Alright, first off, let’s take stock of what you’re working with. It’s super important to know how much money is coming in each month. I usually sit down with my paycheck stubs, side hustle income, and any other sources. What’s your total take-home? This gives you a […]
Protection Against Unexpected Expenses Life Happens Life throws curveballs at us all the time, doesn’t it? One moment you’re cruising through your budget, and the next, bam! An unexpected car repair or a medical bill lands in your lap. These surprise expenses can quickly derail your finances if you’re not prepared. Building a financial buffer […]
Understanding Your Current Financial Situation Assessing Your Income Sources Before diving into setting ambitious income goals, it’s crucial to first take a good look at your current income sources. Are you relying on a single paycheck, or do you have multiple streams like side gigs or passive income? Understanding where your money is coming from […]
Understanding the Importance of Refund Policies Why a Clear Refund Policy Matters Let me be honest: when I first started out in business, I really underestimated the importance of having a clear refund policy. It seemed like just another piece of paper to have lying around, right? But that policy can be a lifesaver, making […]
Understanding Cash Flow What is Cash Flow? Alright, let’s kick things off by diving into what cash flow really means. In the simplest terms, cash flow is the money coming in and going out of your business. It’s essential to understand that it’s not just about profits; it’s about having enough cash on hand to […]
Create a Solid Financial Cushion Understanding Your Expenses Before diving into strategic breaks, I’ve learned that knowing your business expenses inside and out is crucial. Take a good, long look at all those fixed and variable costs that keep the lights on. This includes rent, utilities, salaries, and of course, those sneaky little expenses that […]
1. Assess Your Current Financial Situation Understand Your Cash Flow Let’s talk about cash flow, the lifeblood of any business. Before you can scale, you really need to know where your money is coming from and where it’s going. Dive into your revenue streams and expenditure. I’ve found it helpful to break it down month […]