Make 2023 your biggest yet
It was October 2017. I was looking down the barrel of a new job that I did not want (based on a necessary restructure), about to turn 40, had a small child who was about to start school hours and a sinking feeling in my stomach. How would we handle school hours (my hubby is a schoolteacher, so he does school hours) without family to lean on? How would we handle a call from the school with a pick-up request for a sick child? How would I support our family if I didn’t have a job as an employee?
At that point, I knew I needed to jump ship. I needed to create my own reality. I needed flexibility.
I already had a side hustle as a faculty member for a Women in Leadership organisation and I was already coaching many women, but I wanted more. I wanted financial freedom. I wanted to do something that lit me up every day. I wanted to have fun, achieve great results with my clients, and to take life less seriously. Oh, and I wanted to wear jeans. Everyday.
After working with so many inspiring women, this is why they tell me they went into business for themselves:
- To be their own boss
- To work fewer hours
- They feel they can have more impact
- They want financial freedom
In reality, they may have flexibility, but they appear to be working MORE hours, feeling MORE stressed and MORE frustrated that they are not getting any closer to their goals.
I get it. It’s been a tough few years. Businesses have struggled. Some have closed. What we thought would make us happy, does not. It sucks. It sucks the big one.
However, I truly believe there is a way for women to have these things – have them all (if they want them) – and feel fulfilled at work and at home.
Here’s the kicker: The Australian Bureau of Statistics says that unless your turnover is more than $200,000 per year (yes, you read that right), your business will struggle. I also know this to be true. When revenue reaches that point, it means it can free us up to hire some help, invest in marketing and focus on growth (or scale, depending on what YOU want).
There are a variety of reasons why businesses don’t succeed or why their owners shut shop. Here are a few:
- It’s hard – harder than they thought
- Revenue is inconsistent, therefore cashflow is lumpy (which leads to a feast or famine situation)
- There is not enough profit in the business
- They don’t love their business/products/services anymore.
What’s the answer? Well, it depends (I hate it when people say that!) on what is happening for you in your own business. There is always a choice to be made about whether you want to keep going (I have had many conversations lately about women heading back to work in an employee-type role).
Here are a couple of things that help me:
- Showing up
When you run a business, you need to continue to make the choice each day to show up (even when things are hard).
- Mindset work
Constantly working on your mindset is a must. Whatever that looks like for you. It could be meditation, journaling, listening to podcasts or reading books. Because business is different for everyone, it’s important for YOU to be clear on what needs to be achieved, what success looks like for YOU and how YOU want to show up.
- Fall in love – with your numbers
Numbers aren’t scary once you understand them. Yes, you can outsource, but only AFTER you understand your numbers. You need to fall in love with the numbers of your business, know your revenue and profit, be clear on your variable and fixed costs, and understand the trade-offs that you may need to make. You need to not only have a plan, but also a way to execute that plan. A plan does nothing if it is not implemented.
- Be clear on daily tasks
Knowing what you need to do each day to inch closer to the business of your dreams is so important. Focusing on WHY you went into business in the first place needs to stay front and centre ALL THE TIME. You might have it etched into your brain. You might have it stuck to your computer as a reminder for you. I personally like a vision board to remind me constantly why I do what I do.
Is this you? Do you feel this? Are you wanting to have more? More flexibility, more growth, more revenue, and more profit? You can have more. You don’t need to settle (if that’s what you are doing). You can grow in a way that works for you and for those around you. I know it can happen. I have seen it happen countless times.
Wanna chat? Hit me up, and let’s jump on a call. Let’s help you get clear on what you need to do and let’s see if you need a cheerleader to help you nail this year. I would love to help you in any way I can!