Even if you love your business, these 3 things will stop you making money
Today we’re talking about mixing love and money.
It’s frustrating when you’ve built a business based on your passions, put your heart and soul into your products and services and then
... crickets. 🦗🦗🦗
Maybe you’ve been limping along for months or years not making much money, and you’re considering giving up.
Maybe you’re even getting pressure from other people in your life to quit your business and go back to your day job.
But before you panic, there might be some practical reasons this is happening – and we’re going to get real on what’s going on and how you can fix it.
You can have a business you love AND make money.
The belief that you can’t is SUCH a common thing - I see it all the time.
Entrepreneurs who have found something they love to do, but who just can’t seem to make any money from it.
When business doesn’t work, we tend to make up stories about why this is happening: usually the old story that we’re not good enough, or that we’re not allowed to live our passions.
Trust me – most of these stories are crap, and you need to deal with the blocks that are behind them so you can move on and start making money from something you love.
Let’s get real and honest before you chuck it all in.
3 things to check if you’re not making profit from your passion:
#1. Is your idea a valid business for YOU?
What does that mean exactly?
I mean: is it a business that sells something people will actually PAY you for?
Is it something you even WANT to do?
This can be a hard one to admit you’re doing wrong.
A good business is an intersection between three things:
- What you love to do,
- What you’re good at, and
- What people will pay you for.
You really need all three if you want not only a profitable business, but something that has longevity for you.
It’s tempting to make a business out of something you’re good at, even if you don’t quite love it.
For example – I used to do private coaching even though I’m much better teaching in group situations. When I admitted to myself that I didn’t really like it anymore, it freed up my time and energy to create my Money Bootcamp.
Just because something is a good business idea, it doesn’t mean that you have to be the one to bring it into the world.
So, do a check on your business right now: is it something that you love, that you’re good at, AND that people will pay you for?
Yes? Yay! You’re on track!
No? Time to go back to the drawing board and see if you can tweak the business, otherwise, give yourself permission to let it go.
I know it can be really hard to take an objective look at the business you’ve set up and realise that it’s just not going to cut it, but it’s an important step if you want to make more money with less effort.
#2. Not everything has to be a business!
If you really enjoy your hobby, it can be tempting to turn it into a business.
Omg, I’ve so done this.
For example, one of my very first blogs was “Neicey’s Movie Reviews” (Neicey is my childhood nickname).
I thought that because I loved movies and writing, it would be an awesome business. But then I sat in the movie theatre with my notebook and I realized that it completely ruined my experience of the movie!
Going to the movies was my escape, it didn’t have to be my livelihood too. As business-minded entrepreneurs, we see the potential in everything, but the harsh truth is that:
Most hobbies should stay hobbies.
For most of us, the hobby-turned-business might be fun for a while, but it might not be something we’d get paid to do.
And after all, if you turn it into a business, you’ll have to find a new hobby! It’s totally safe for you to have some down-time and do things just for fun.
You don’t have to monetize everything... even though that’s how we work as entrepreneurs. We’re always thinking of money making ideas. But it can be distracting if you don’t follow through.
My advice is to find something that you love to do, that fits the “good business” model I spoke about before. That way, you still get to enjoy your hobby while also building a business you love.
#3. You have to learn to love marketing
Yes. LOVE. Truth time. Every business needs marketing.
Yes, you can “manifest” new clients, but the Universe needs you to meet it half way. Btw - marketing is manifesting too!
Getting good at marketing is simply a skill that’s essential for all entrepreneurs, and if you’re not marketing your business then your business will reach an inevitable plateau.
It’s totally normal to feel a bit icky about marketing and feel like it’s sleazy or even dirty to “brag” about ourselves.
Honestly – this is a money block.
You really must be doing some regular marketing activities in order to bring in the clients.
Otherwise, you’re just hiding your talents away from the world.
It’s totally safe for you to market your business.
Money needs marketing AND mindset.
And it’s totally possible to deal with those blocks and learn what you need to learn to take your business from flatlining to growing fast.
So you either need to learn about marketing fast, or delegate it out. Either way, you can totally figure it out!
So lucky bee – that’s where the money is!
You’re allowed to love your business AND make money out of it.
Want to upgrade your mindset and marketing?
Not sure where to start?
Here’s to getting through your blocks and building a business you love!
It’s your time, and you’re ready for the next step.
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