42 Unsexy but Necessary Things You Need To Run a Successful Business

42 Unsexy but Necessary Things You Need To Run a Successful BusinessEverybody wants the sex and sizzle of the promise of being your own boss and running a business. Yet there are a number of not-so-sexy but absolutely crucial things you need to have if you’re serious about running your business. Times have changed so you want to keep your planning short, sweet, and flexible but you still need more than just a seat of your pants whim.

If you don’t want to land your butt in jail, decimate your family’s financial security, or screw this up so royally that you have to sell everything you own and take a worse job than you left, make sure you have these 40 things handled.

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The Only 2 Ways You Can Be More Profitable

2 Ways to Increase Your Profit

Complex formulas abound on the topic of profitability and your small business.  The simple truth is there are really only 2 ways you can increase your profits.

Earn more

or

Spend less

(or a combination of the two for a super-duper sundae with cherry on top!)

You were expecting rocket science?

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Top 7 Posts You Liked Best in 2016

I love to reflect and review this time of year.  Taking a peek at all the blog posts written or revised in 2016 was a fun way to look back at what you – the reader – liked best.

Top 7 Blog Posts You Liked Best in 2016

Below in descending order of popularity are the blog posts you liked best as measured by sharing it with your peeps. [Read more…]

3 Things You Must Know to Price & Package Your Services Profitably

3 things you must know to price and package your services profitably

If you’re a service based small business owner, you know how valuable your time and financial resources are.  Pricing is on your mind regularly as you package new offerings, estimate potential projects, and track your financials.

Pricing is one of the few things about owning a business that can make or break you. Get it wrong and you’ll find yourself in deep waters even if the opportunity of a lifetime finds its way to you.  Remember that if you’re losing money on a small bit of business, if you suddenly get a fire hose full of business you do not make it up in volume. You simply drown faster and more dramatically.

The good news is since you’re the boss you can and will change (whether a tweak or an overhaul) your pricing to address ever-changing life, business, and market conditions.  The secret lies in a sound foundation and thought-process and regular measurement.

Here are 3 things you absolutely must know.

1 – How to calculate your hourly rate

I beg you –  Do NOT just pull a figure out of the air and run with it.  You need to understand your numbers or you will forever be winging it.

Not planning on trading time for money so you think you don’t need an hourly rate?

Even if you never-ever work hourly with clients it is imperative to know what your hourly rate is so you can price your packaged and group services profitably and have a metric against which to measure your estimates versus real-world experience.  (Has it ever taken you longer to prepare for or complete a project? I thought so…)

A thought process and calculation that takes into account time, money (including expenses and taxes), and capacity is crucial to making this work.

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Do You Find Yourself Working More But Earning Less? 3 Reasons You Fall into this Trap and How to Break Free

Why You Are Not Getting Paid What You're Worth

Have you ever found yourself working extra but not getting paid for it?

I don’t mean over delivering by adding extra value and delighting your clients. I’m ALL for that.  In fact I highly recommend frequently delighting your clients!

What I’m talking about is the dreaded… (Cue the spooky music)

Scope Creep…

Or the

Over-needy client who wants “just one more little thing”.

Ever happen to you?

If you’re in business – of course it has!  Scope creep can be a natural byproduct of many different kinds of projects (think: design, tech projects, and construction just to name a few).  Wanting “one more thing” can be a sign of someone who is thinking through their requirements as they go.

Neither of these things is inherently bad.  It’s what you do with them that set you up for success or a spiral of resentment, misery, and lack of cash.

Here are the top 3 reasons why you may find yourself working like a dog but earning less and less and what to do about it.

Wanting to Be “Nice”

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How to Prioritize When Everything is a Priority

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