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Snow was falling hard and fast. Wind gusts were blowing icy wetness into my face. Even my love-the-great-outdoors Irish Setter wanted to go back inside.

 

Why was I shoveling in the middle of blizzard?

Here in Minnesota we had a major snowstorm yesterday. School was cancelled. The road in front of our house still hadn’t been plowed by 10 p.m. About 10 inches of snow fell in 24 hours.

All predictions said it would snow until at least midnight last night, and they were right.

Knowing all this, I made the clear choice to shovel our driveway and sidewalk around lunchtime. You read that correctly. I shoveled snow in the middle of a blizzard.

Certain types of snowfall can be wet and heavy. Today’s snow was very heavy. Shoveling four to five inches of snow is hard work. Shoveling eight to ten inches of snow is back-breaking.

I’ve learned through years of northern living that it’s better to clear the snow mid-storm then wait until it ends. It actually takes less time, and puts less stress on my back, to do it twice.

As I was out shoveling the second time, around 5 pm in the evening, I realized my method of shoveling was a perfect analogy for many tedious tasks in small business. We put them off, letting them accumulate, thinking we can get it later in one go.

What really happens?

The tasks snowball (pun intended), making the work exponentially more difficult.
We keep putting them off, long after we should. Unlike the snow in my driveway, many necessary tasks can be ignored in business until they’ve created a very major problem.
We miss out on opportunities, such as end of year tax savings, or realizing we’re still paying for an online software app we haven’t used in six months.

You may be wondering, why don’t I just buy a snowblower?

Or hire someone else to plow my driveway? The business equivalent of buying a app, software, tool, or hiring someone to do it for me.

Great question. I have thought about it, but every year I decide to keep shoveling for the following reasons.

Generally we only have one big storm a year. Buying a snowblower for one big storm seems like overkill. Expensive overkill. Which leads to…
There are more effective ways to spend money on my house and its upkeep.
I enjoy shoveling. Usually it’s a light workout, getting me outside and allowing me to meditate. It’s how this blog post was born.

Despite the storm, the school cancellation, and my unusual shoveling choices, I still managed to finalize preparations for this Wednesday’s webinar.

The 3 Massive Mistakes Healers and Coaches Make That Keep Their Calendar Full and Bank Account Empty.

 

If you haven’t signed up yet, grab your spot. If you have a friend or colleague suffering from a busy schedule but flat profit share the link.

There’s no cost. Simply great information to help Healers and Coaches start 2018 with a strong foundation.

 

Sending hot cocoa and warm regards,

 

Nicole

The post Why I Shoveled During a Blizzard appeared first on The Numbers Whisperer®.

My clients won’t pay that much.

 

I’ll lose customers.

 

Some business is better than no business.

 

Sound familiar? You are not alone.

 

I’ve been pricing successful products and services for over twenty years, and I understand your fear. I also know the secret to busting through your profit blocks, and achieving your profit goals.

Water.

Water is a commodity. In the U.S. you can drink it straight from the tap. It’s free. Yet bottled water is the second largest commercial beverage category by volume. Bottled water is second only to carbonated beverages. Bottled water beats milk.

Something you can get for free, in your home, is purchased more often than something than can only be obtained from a live animal and then processed before being consumed. Sounds crazy, doesn’t it?

People will pay for what they need, want, and value.

The key to selling your products and services at a profitable price has two simple steps. First you need to understand your clients’ needs, pain points, values, and desires. Then you must clearly articulate how meet those needs, pain points, values, and desires.

Don’t take my word for it. Let’s look at real life examples involving bottled water.

Generic Bottled Water

Selling Points: Portability, Purified

I can visit my local Target and purchase a 24 pack of their generic bottled water for $2.99. That’s 12.5 cents per bottle.

On one hand you could say that’s really cheap, so of course it sells. Yet on the other hand we have access to free, clean tap water. The consumer is paying for something they can get for free. At this price point water is still a commodity. To maintain market share the price must be low compared to competitors.

 

 

Branded Bottled Water

Selling Points: Portability, Purified, Taste, Perception

Currently a 24 pack of Ice Mountain brand bottled water sells for $3.99. That’s 16.6 cents per bottle. Why would someone pay a dollar more for the same thing at the same store? It’s water.

Notice on their packaging it states “natural spring water”. The consumer assumes that will provide a better taste. And spring water sounds so refreshing, doesn’t it? Finally the perception or cachet of the product matters. Some consumers might feel embarrassed to bring generic bottled water to an event, worried their peers may perceive them as cheap. For only a dollar more they can avoid that.

 

 

Single Bottle – Gas Station

Selling Points: Portability, Convenience

Most people have purchased a bottle of water from a gas station. In my experience the cost of a single cold bottle starts at $1.49. Why would anyone pay $1.49 for something they purchase elsewhere for less than twenty cents?

 

Convenience.

 

 

Single Bottle – Luxury Brand

Selling Points: The Experience, Cachet, Perception

If you’re interested in picking up a bottle of Bling H20 plan to spend at $40. Sure there are a few Swarovski crystals on the bottle, but I could pick those up at a craft shop and add them myself. What people are really buying is the experience, the sense of pampering, and the cachet of carrying a $40 bottle of water.

 

 

Single Bottle – Collector’s Edition

Selling Points: Cachet, Work of Art

 

Guinness Book of Records has named this bottle of water the most expensive at $60,000. Yes there are four zeros after the six. The bottle is made of solid 24 karats gold. The bottle was designed by Fernando Altamirano. Buyers aren’t looking for water to drink, they are seeking a collectible item, even a work of art. They are paying for the bragging rights, to say they own a bottle of the most expensive water in the world.

 

Closing Thoughts

Price is the not the reason people won’t buy your product or service. Failure to communicate how your offering meets a need or addresses a pain is the reason. Once your target market understands how your product or service meets their needs, addresses their problems, or stops their pain then price becomes secondary.

Learn more about pricing and positioning your product or service by scheduling a no cost, no obligation, 30 minute session with Nicole Fende. It’s time to make your goals a reality.

The post Conquer Your Pricing Fears with Water appeared first on The Numbers Whisperer®.

I’m not someone who has chased high end brands, I never felt the allure of Prada sunglasses, Luis Vuitton luggage, or Gucci purses. But I’ve been asked to buy varying quality knock-offs more times than I can count.

How can this be?

Well if you’re wondering why I don’t want to spend $1,000’s for a roll-on bag when a great quality Briggs & Riley can be had for only a few hundred we’re going to need a bigger blog. Maybe something stronger than this cappuccino I’m currently sipping. And a virtual trip back to my small town Midwestern roots.

If you’re wondering how it came to pass that I’ve seen so many fake bags, belts, and other accessories that’s easy. I lived and worked in Asia for nearly four years. Try as I might to blend in (I learned to speak decent Tagalog plus a smattering of phrases for each country I visited), the locals saw me coming a mile away. If I was in a shopping area, even one geared towards locals, the patter would begin.

Genuine Gucci. Real Rolex. Great price for you.

Not being interested I would shake my head, perhaps even say no thank you. Of course they thought I was bargaining, so prices would drop precipitously.

Still walking.

Then they would determine I must be a discerning foreigner. It was time to bring out the big guns – namely LV. Often this was done surreptitiously given the occasional crackdowns on these knock-off products.

I nearly burst out laughing one day at an open market in the southern part of China. A European was haggling over a Rolex. I believe they were down to about USD 10. Then he asked, “It’s real right?”

Are You Suffering From Designer Knock-Off Syndrome?

This insidious disease is easy to catch, yet hard to detect until major damage is done.

Have you said I’m not sure what to charge, so I’ll just peg it in the middle of my competition?
Have you created products or services because it’s what your peers offer?
Have you said to a prospect, we’re like [competitor’s name] but…
Have you lowered your price because you were the highest, even if you offered superior services?
Have you set a price to be the lowest on the market, regardless of the profit margin?

If you answered yes to any of these questions then you are suffering from Designer Knock-Off Syndrome.

Your Cure for Designer Knock-Off Syndrome

Thought Leaders, Trailblazers, and Content Experts know you can’t lead from behind.

Strolling past those countless knock-off vendors I was looking for something unique, interesting, or compelling. While wandering around in Jaipur India I stumbled across an area where people were making bangles on the spot. Fascinated by the process I watched and then purchased a large number. While in Chaing Mai, Thailand I took pleasure in selecting a gorgeous hand carved Jade ring set in white gold. I have more stories like this than time or space to share.

I had the means to purchase those knock-offs, but wasn’t interested. Even if they had been the real deal (heh heh… sure), I wouldn’t have been interested. It wasn’t the price. It was the story. It was the uniqueness of what they were offering. It was the craftmanship of the work being done. That was why I spent my money.

Time to focus on understanding, evaluating, and embracing the unique value you and your business offer.

Unless you want to become just another designer knock-off, me too business you need to focus on understanding, evaluating, and embracing the unique value you offer.

It’s not easy changing your mindset. That’s why I’ve created Daily Money Mindset Boosters. Give it a try free. No cost, no obligation. Just a week dedicated to nurturing your prosperity mindset.

Prosperity begins within. Knowledge is great, but action delivers results. You must want to follow through on what you learn. You must believe in your core this is the right path. #MondayMoneyMantra will help you establish and nurture a prosperity mindset. Want more? Click here to get a daily booster delivered straight to your phone.

The post #MondayMoneyMantra – Beware Designer Knock-Off Syndrome appeared first on The Numbers Whisperer®.

You know I’m a fan of using stories as a way to talk about the hard stuff (check out the recent addition of my sci-fi alter ego). But did you know stories are also a fabulous marketing tool?

It’s true. People remember stories. People seek out stories to see and hear every single day (movies, books, and even that gossip website you visit on the sly).

And when you know who the Hero of your story is, what villains they’re battling, and what kind of goal they’re after, you can create clear, confident messages that connect you directly to the right people. Your right people. The people who want and need what you offer.

And that leads to more profit.

When I started my business I didn’t tell stories. I named my business Small Business Finance Forum. Ugh. Doesn’t that name just make you want to run away or fall asleep. There were no mascots or villains. No stories. And guess what? There wasn’t much business coming in either.

My clients told me they hired me in spite of my marketing and branding, not because of it.

Fortunately I had friends and colleagues who helped me understand why my approach wasn’t working. They supported and encouraged me to stop hiding my story telling skills and start leveraging them. A key person in that transition to better marketing and more profit has been my friend and colleague, Tea Silvestre (of Story Bistro infamy).

Now you have a chance to work directly with Tea.

Tea is hosting her 2nd Annual Storytelling Soiree for Small Biz Owners this August. If you’re in Portland Oregon this summer (or you want to be), go check out the details: http://storybistro.com/small-biz-storytelling-soiree/.

And — BONUS — she’s given me a sweet discount code to share just with you. Use NUMBERSPAL25 when you check out before July 1st and you’ll save 25% off the ticket price.

Newsflash: The interwebz are full of cool stuff. While I make an effort to share anything helpful or interesting through social media, there are always a few stand out items. It might be an app, a service, a coffee mug (I take my coffee very seriously), a podcast, a group making the world better, or just something that got added to my must have / must do list. #FridayFind is my weekly spotlight on that one stand out. Enjoy.

The post #FridayFind – Storytelling Soiree from Tea Silvestre appeared first on The Numbers Whisperer®.

Paperwork, process, systems, checklists,… and in 3,2,1 your brain has shut down. Your body is still located at your desk, but your mind has wandered. Far, far away.

What’s the solution?

Some experts claim you just need to be more committed to using a system and following a process. Because having a mortgage payment in 5 days means I’m not serious about this.

Other gurus say outsource it all. Heck outsource putting on your socks in the morning. You could probably even find someone on Fiverr to do it.

A third option that’s been floated (possibly by large quantities of helium), is to think positively and it will all work out. The best response to that has already been written by The Bloggess on Storify (warning adult language, so you 12 year olds reading a business blog about profit can just skip right over this).

Then there’s me. I’m not claiming to be a guru, a paragon of process perfection, or even someone who puts on their own socks each morning will transform your chaos into Stepford Wives order.

I’m laying claim to imperfect action served up with a big side dish of laughter leading to a profitable, sustainable business. All you need is an open mind, a thirst for an adventure, and an appreciation for fun.

Time for a Small Biz Sci-Fi Adventure

Meet Brenna Rain, bounty hunter and captain of the starship Tesseray. Brenna is my sci-fi alter ego. I’ve wanted this persona since this first time I read “A long time ago in a galaxy far, far away…” on a movie screen. I wanted to be in space battles, hang out with aliens, and have a swashbuckling good time.

As a kid I imagined all those things. I collected all the cool ships. I knew the name of every character, monster, and piece of equipment. I had space adventures in my back yard. For the record the Upper Peninsula of Michigan makes a great Hoth environment in the winter.

Then something happened. I grew up. I got a job in the financial services sector. I was a serious professional. And I was miserable.

The fun was boxed up and only let out to play on weekends. With other like minded friends who watched X-Files and enjoyed a bit of RPG. Sure the occasional Trekkie comments were ok, I was a numbers person after all. They’re supposed to be a little bit geeky.

To be taken seriously, to be a successful professional, I needed to fit in. To be conventional. To act as others expected. To leave those sci-fi adventures locked up in a box. Set aside as something “childish”.

Even when I finally heard the siren call of being an entrepreneur I wore my serious professional suit. It took years to peel the onion layers off. To rediscover that joy in adventure. The ability to turn the mundane into magical. That ability which lives in all of us.

Choose Your Own Adventure

When I was a kid “Choose Your Own Adventure” books were a big thing. Mainly because back in the stone age people didn’t have computers at home, and Atari games were super simplistic with things like Defender and Asteroids. The books allowed the reader some choices, as well as consequences – good and bad.

Today we’ll start with Brenna. Over time her universe will grow and the options will grow with it. Rather be a sentient plant that communicates via scent? That’s coming! Prefer to be a twenty something human male? We’ve got that too. And much more. I’ll be slowly introducing them on #WarpSpeedWednesday as a lead up to my second book launch.

Today you’re a bounty hunter. You have the chance to score a big job, you just need to beat 3 other competitors to the planet. Ready? Go!

Don’t Blow Up Your Starship

Even futuristic starships can’t just take off. You have to power engines. Plot courses. Secure the ship. There’s a checklist, a process to follow so you don’t blow up your ship (or as Han Solo bluntly put it, it ain’t like dusting crops, you could fly right through a star).

Instead of a boring morning list of tasks to do, create a control panel for your business starship. Imagine sitting down in your captain’s chair, ready to get the jump on your competitors. Time to check all systems so you can get underway.

Let’s take a look over Brenna’s shoulder.

Stay tuned for more on Brenna Rain and her small biz sci-fi adventures.

This post is part of a regular blogging event hosted by small business experts. Being wicked productive doesn’t have to come at the cost of fun. Joy can be had when you’re at your most efficient. This month’s topic They CAN Co-Exist: Fun and Productivity.

The post Process, Systems, and… Adventure? (to Profit!) appeared first on The Numbers Whisperer®.

There are two camps of people in the world. Those who love, love, love Excel (me!) and those who hate, dread, and loathe Excel (probably you).

Does chewing on broken glass watching paint dry while listening to someone scrape nails on a chalkboard sound like more fun than working in Excel? Excellent! This post is for you.

I can help you fall in love with Excel (and boost your bottom line).

All I ask is that you set aside your but’s, can’ts, yucks, no ways, impossibles, and should’s for the next 10 minutes. That’s not asking too much. And think of the rewards!

3 Easy Ways to Make Excel Bright, Creative, and FUN

There are two main complaints I’ve heard from countless small business owners just like you.

1. Excel is boring, tedious, ugly, and is probably secretly planted here by aliens to suck up all our creative juices and send them to Centauri 5 (ok I made that last part up, but it sounds plausible).

2. Excel is too hard, complicated, difficult, and frustrating to use.

Today we’re going to tackle the first one in three easy steps. Next week I’ll post part two in this series to address the second issue. By the end of this post you’ll actually be looking forward to next week’s installment. Swear on my lifetime supply of chocoloate.

Today is all about FUN.

 
 

Step 1 Excel for Creative Entrepreneurs: Add Some Color

The very first thing I do when I open up a spreadsheet is add color. Who wants to live in a black and white world? Blah, blah, blah. That’ll suck the life out of you in no time flat.

Here are a couple easy ways to add color in just seconds. I like to think of this as painting. What colors relate to this project? What colors inspire you? Calm you? Energize you? Personally I tend to use colors that tie into my logo and brand. You can pick whatever appeals.

Select the rows, columns, or cells you want to paint by left clicking on it. In the image shown I’ve selected a row by left clicking on it.






Now right click on the selection you made. The options as seen in the image on the left should appear. Click on “Format Cells”




You’ll be brought to this abundance of options. You can change font types, font color, add border colors, change the color of cells and more. In the image on the right I’ve selected the Fill tab, picked a rocking shade of green, and clicked ok.






Ta da!

Bland has been banished in just a few clicks.

 
 

Step 2 Excel for Creative Entrepreneurs: Add Images

We hang pictures on our walls, take a gazillion selfies on our phones, why not add some to our spreadsheet?

At the top of Excel select the tab Insert. Then click on Image. You will be prompted to choose an image from your files.






Presto, it’s a kitten.

What internet tutorial would be complete without a kitten?

 
 

Step 3 Excel for Creative Entrepreneurs: Add Music & Videos

Theme songs, inspiration, relaxation, or even ambient coffee shop sounds. You can have these right in your spreadsheet.



And it’s soooo easy.

Here’s how I quickly added a YouTube video of P!nk singing So What. Please note that you will need to use a separate Tab to add the video.

Go to the Developer tab in Excel as shown in the image to the left. If you don’t see the Developer tab follow the instructions in the next section.






Skip this step if the Developer tab visible.

Go to the File tab and selection Options. You should now see something similar to the image on the left. Select on Customize Ribbon and then check the box labeled Developer (Custom).






Once you are on the Developer tab click Insert and then select Shockwave Flash Object






Using your mouse, right click and hold while dragging the box outline to the size you want the video to be. Release the mouse button to set the size. It’s time to add the video. Click on Properties (#2 in the image)






Paste the YouTube link in the Movie spot and close. I’m using the URL https://www.youtube.com/v/FTLav98dfeg.






Click on Design Mode to turn it off.

Voila! You should be able to watch your video now.

 
 

My Challenge to You

Now that you’ve got the building blocks, take just 5 or 10 minutes and play in Excel. Think of it as an art project. Make it pretty. Make it intriguing. Make it inspiring. Make it into your space.

I’d love to see what you create. Feel free to post on my Facebook Page. Or tag me on Pinterest if you upload there (@NicoleFende).

This post is part of a regular blogging event hosted by small business experts. This month’s topic: Things We Can’t Do Without in Business. We all have our own must-have accessories to complement our day-to-day activities and get to the next level.Favorite book, pack of oreos, lucky rabbit’s foot, four leaf clover, a kick-a** CRM, or a project management system. Discover the secret ingredient for successful entrepreneurs just like you.

The post Excel for Creative Entrepreneurs in 3 Easy Steps (and a Bigger Bottom Line) appeared first on The Numbers Whisperer®.

Remember those so-called true stories you shared at camp, sleepovers, or around a fire?

The man with the hook. The strange noise a parking couple hears outside the car. The guy who wakes up in a bathtub of ice without a kidney.



Urban legends that never seem to die. Harmless stories meant to teach a lesson.

 

Myths in business will kill you faster than a zombie bite.*

*If zombies were real.

Just like the supply of urban legends, there are countless business myths. You haven’t even heard all of them, much less need to worry about them. Today we’ll focus on the Top 3 Small Biz Myths That Will Torpedo Your Profit.

Small Biz Myth #1: I’ll Make It Up In Volume

Let’s listen in to a conversation I’ve had countless times with entrepreneurs.

“What’s your expected profit on this awesome product / service?” – Me

 

“Well, here’s the thing. I don’t make a profit on just one. But my goal is to sell 1,000.” – Small Biz Owner

 

“How exactly do you expect that to work?” – Me

 

“Well if I sell 1,000 of this I will bring over $20,000!” – Small Biz Owner

 

“Hmm… Play with me a minute. How much do you lose when you just sell one?” – Me

 

“Only a dollar or two. No biggie” – Small Biz Owner

 

“If you hit your target sales you should hit your target revenue amount of $20,000. That also means you will lose at least $1,000.” – Me

 

“What? How is that possible? I’ll have brought in $20k!!!” – Small Biz Owner

 

“Yes you will, but you will lose at least $1 for every sale. That means if you sell 1,000 you’ll lose $1 for every sale, or $1,000.” – Me

 

“But I’ll have all that revenue!” – Small Biz Owner

 

“Revenue doesn’t equal profit in your pocket. Look at the US car companies. Billions in revenue and some of them went bankrupt.” -Me

This myth isn’t limited to small businesses. I’ve seen it in Fortune 100 companies – they call it “economies of scale”. 9 times out of 10 they never achieve these mythical economies of scale.

If you don’t have a concrete plan and reason why you stop losing money as you sell more, then you will simply lose more money.

Small Biz Myth #2: Loss Leaders Attract Quality Prospects (Credit: Groupon)

Ever wonder what happened to Groupon?

They used to be the big thing. Want to run a special? Use Groupon! Want to attract new customers? Use Groupon! Want to achieve world peace? Use Groupon! Ok that last one is in jest, mostly. It seemed as though any problem your business had, Groupon could solve it.

So what happened?

Let’s take a look at the model behind Groupon – using loss leaders to attract new clients.

A loss leader is selling a product or service at a major discount, in other words a loss, to attract new customers. The idea is that this great deal will pull them in, giving you a chance to knock their socks off. Once they’re hooked they’ll buy more from you at regular (profitable!) prices. You’re awesome right? How could they resist?

Here’s what really happens.

A few of your regular customers buy the special. Why wouldn’t they? They already know you’re great.

Those new customers? The ones you were going wow and turn into repeat customers? They’ve moved on to the next deal. They weren’t attracted to you for your quality service, unique approach, or amazing speed. They saw the price. Once the price deal was gone, they were gone.

Unless you’re the Walmart of your industry, this approach will not attract your right people.

This is exactly what small businesses discovered on Groupon, which is why it’s no longer billed as the go to, one size fits all, solution for small businesses.

Small Biz Myth #3: Freebies are a MUST to make customers happy.

Think about the last time you bought a car. Did they give you a free upgrade to heated seats (a must here in Minnesota)? Were custom rims thrown in gratis? Did they install an entertainment system on their own dime? Nope.

Are you an unhappy because of it? Do you refuse to do business with them again? I doubt it.

When you go to the dentist do you ask to have an extra cavity filled at no charge? The dentist is in there anyway right? It should only be another 10 minutes. Why can’t they just do it, and make you happy?

Not only have I never gotten a cavity filled for free by a dentist, if I did I would probably be worried why. Is it part of a conspiracy to hide secret files? Did my business rival ask them to inject slow release arsenic in there? Perhaps it’s some new take on Total Recall. We all know dentists don’t just throw in extra services to keep their patients happy.

You don’t need to give away freebies to make customers happy.

Why do you do it then? I find it boils down to mindset. Having the right mindset is crucial to being profitable and prosperous. That’s why I created Daily Money Mindset Boosters. Think you might need this? Head over now and try it free for a week.

Final Thoughts

What are common business myths you see people believe, and have their bottom line suffer? What have you experienced? What challenges are you facing now? And if you ARE the person who lost a kidney (not their first cousin, college roommate, or best friend’s sisters dog’s owner), sounds off below.

This post is part of a monthly word carnival hosted by small business experts. This month’s topic: Business Urban Legends Every industry needs a good bit of mythbusting. This month, we’re tackling the myths and misunderstandings of our particular fields.

 

The post I’ll Make It Up in Volume (And Other Myths That Torpedo Your Biz Profit) appeared first on The Numbers Whisperer®.

If you’re committed to success you’ll buy this.

If you don’t have the money use your credit card.

You need to spend money to make money.

 

Sound familiar? If you’ve spent more than 30 seconds online as an entrepreneur I’m betting the answer is yes. Like all good lines, there’s a kernel of truth to each one.

Are you serious or a sucker?
Learn when to spend the big bucks, and when to shut your wallet.

This post is part of a monthly word carnival hosted by small business experts. This month’s topic: Dirty Deeds and Due Diligence – what to watch out for in 2015! The New Year is bright with all sorts of new ideas, but in certain circles there’s still plenty of shady tricks and underhanded practices that we think should be called out.

When Committed Should Mean Cash on the Table

Just recently I received a newsletter where the “expert” was telling her audience “If people won’t buy your high end package it’s because they’re not serious.” What the what?!? Maybe it’s because they don’t have the money. Maybe they have other, more pressing needs. Maybe they aren’t convinced you can deliver a real return on their investment.

I’m serious as a heart attack about my business. I don’t need to spend big bucks on a so-called guru’s gold plated offering to prove it.

It’s one thing to say hey if you can’t afford my comprehensive fundamentals book for $20 then you aren’t serious. It’s quite another to say if you don’t buy my program for $5,000 you just aren’t serious about success. I’m serious as a heart attack about my business. I don’t need to spend big bucks on a so-called guru’s gold plated offering to prove it.

Does that mean you should avoid all high dollar investments? No. It means you need to step back and carefully consider your current needs, your long term goals, and your budget.

Here’s a quick way to evaluate a purchase. Rate the following statements on a scale from 1 to 5, 5 being agree strongly. Be honest with yourself, or your bottom line will suffer.

This directly supports my long term goals.
This is my most critical need as a business.
This will grow my sales.
This will grow my profit.
I don’t have the expertise to do this myself.
I don’t have the time to do this myself
There is a clear contract that outlines services I will receive.
The contract includes clear language describing any promised results, warranties, or money back guarantees.
I expect my bottom line (profit) to grow by more than what I will spend. (In finance speak, this is ROI)
I have the funds available to invest.

Add up your numbers. If you scored less than 20 this is NOT a wise investment. Look for a budget friendly alternative. A score between 20 and 40 means you need to do more research, seek out trusted colleague’s opinions, revisit your goals and budget. Rated above 40? This has potential to be a legitimate time to open your wallet. Be sure to get a clear written agreement before putting money down.

Because I recognize that you, my ideal client, aren’t one size fits all, I offer a range of options to fit any budget. Just starting out? Get my comprehensive book on the basics “How to be a Finance Rock Star: The Small Business Owner’s Ticket to Multi-Platinum Profits” on Amazon. I also offer self-directed ecourses (gamified for fun!), consult with entrepreneurs one-on-one, and even have a Timeshare CFO package.

The newsletter? I unsubscribed.

Credit Card Catastrophes

Small business credit card debt of $20,000, $30,000, even $40,000 or more. Entrepreneurs swimming in high interest debt, barely able to tread water. Pressured into big ticket purchases, or lured by the non-stop upsell (because serious business owners invest ya know), they’re left with big bills and small bank accounts.

Sound melodramatic? The small business equivalent of the guy who had his kidney stolen.

It’s not. I’ve personally heard this story time after time.

Let’s get one thing absolutely clear. I’m not judging people in this situation. We’ve all made mistakes. Mine are too numerous to list here. For those struggling to succeed, I fervently hope they do. For the rest, I want to help you avoid this pitfall. By acknowledging it’s real, and it does happen to smart, hard working, serious entrepreneurs we can start to fight it.

Here are common sales lines, and how you can counter them.

“Just put it on your credit card. By the time the bill comes you’ll be able to afford it.”

Response: If that’s the case then just bill me in 30 days or do a payment plan. Then we’ve both got skin in the game.



“Don’t worry, we’ve never failed to deliver.”

Response: Great! I’d love to see a guarantee in writing. If I do everything required and this doesn’t work, you’ll refund my money right? If you’ve never failed then it’s no risk for you.

“You need to act fast. I can only hold this offer for a few hours. Don’t miss out!”

Response: Wow I must be really, really lucky. I just happened to find you and this deal at the exact right moment. It’s a fast action deal? So someone new could get it in 2 days, but I couldn’t? I believe in taking thoughtful action, my mom always said to look before I leap. Regretfully I’ll have to pass.

High pressure tactics should send you running for the door. Real value has staying power.

Spend Money to Make Money

Back at the top of this post I pointed out that all these lines had kernels of truth. This is the most insidious of the three. By over simplifying it masks the pitfalls. In this case, the profit devil is definitely in the details. Here’s what it needs to say:

Spend money based on careful financial analysis to make money.

Not nearly as sexy is it?

There is a time and a place to spend money on your business. Only you can decide when that is after careful consideration. Anytime someone uses this line to push for a sale take a step back. Big red flag if the main selling point is it takes money to make money.

Final Thoughts

Have you had an experience with this? Was your second cousin’s best friend’s boyfriend the kidney victim? Sound off below. Disagree with me? Great! I want to hear that too. We learn and grow through courteous discussion and debate.

Interested in exploring if we would be a fit for one-on-one consulting? Fill out the info below and I’ll get you on the calendar.

The post Serious or Sucker? When to Spend the Big Bucks appeared first on The Numbers Whisperer.

Your attitude drives your success.

 

Stay positive to stay profitable.

 

Drink lots of coffee.

You’ve heard these business mantras many times before. Ok maybe not the last one… unless you’ve got my office bugged. Bottom line? Your attitude does affect your profit.

What effects your attitude? Yes I know these pesky numbers people and their linear minds. Humor me (or push my laugh button and humor yourself). What effects your attitude?

Your environment.

What is the single place you spend time consistently when working?

Your desk.

Step Behind the Curtain to See What’s On My Profitable Desk

This post is part of the Word Carnival extravaganza. This month’s topic: Behind the scenes of your business/blog. Click here to read posts from my insightful, fun, smart, and sometimes snarky colleagues.

 

You might think, a desk is a desk. It holds my computer, paper, a beverage (coffee please!), and some pens. What else do I need?

Do you use salt? Pepper? Cinnamon? Sage? Nutmeg? No I haven’t lost my mind. It’s a real question. Do you eat food that’s bland, boring, yet nutritionally good for you? Not if you can help it. In fact you’ll avoid that bland, perhaps even bad tasting food at all costs, going straight for the best tasting stuff even if it has zero nutritional value (chocolate cheesecake sounds good even at 7 a.m.).

Your subconscious sees your environment every minute of every day.

What are you telling yourself?

Let’s deconstruct my desktop messages. Use them as prompts to thoughtfully decide what deserves a spot on your desk. FYI – normally these are spread out across my desk, I grouped them together for the picture.

Pictures of Family

While I’m passionate about my work it doesn’t define my life. Having pictures of my husband and daughter on my desk helps me stay focused on why I work.

Since becoming a parent I’ve discovered that my daughter provides a valuable litmus test. I now consider how she might view my actions as she grows older. Would she be proud? Disappointed? Inspired?

On days where feelings of uncertainty, frustration, and depression run rampant I look at her picture and think about that message. I want to teach her to be a fighter, to follow her passion, to help others, and do the right thing. If I don’t lead by example how will she learn?

Client & Colleague Tokens

The coffee plant drawing comes courtesy of Tori Deaux at Quirkipreneurs. Tori has been a valued colleague, creative cohort, and friend over the past few years. Her encouragement and advice was the genesis to embrace my quirks and break out of the corporate mold.

I wouldn’t be writing for the Word Carnival today if she hadn’t encouraged me to write with my own voice. This card reminds me to be myself and that I’m not alone.

The ceramic owl next to my coffee plant? Given to me by a client with a handwritten note thanking me for all my help. All the money in the world couldn’t buy the feeling when I received that gift.

The owl serves as a reminder of why I do what I do. I help people. I make a difference.

Mug & Mantras

Of course my desk would not be complete without at least one mascot! Fluffy the Finance Feline joins me every day on this Money Mantra Card.

A desk without coffee is no desk of mine. There is always a mug of coffee on my desk. I find the scent alone helps me be comfortable yet energized. In this picture I’ve chosen a mug from the book launch for “How to be a Finance Rock Star“. A great reminder of what I’ve already accomplished and a spur to do even more.

The Jar of Buttons

I debated whether or not to explain this jar. The story is quite personal. Yet it’s something I look at consciously every day.

When I was a young kid, I remember my paternal grandmother had a jar of buttons. I was endlessly fascinated by this jar as the buttons were all shapes, sizes, and colors. My grandmother (a smart, independent, and loving woman who I still miss) would let me play with the buttons, but I could never take any. Looking back I realize that living through the depression she kept those buttons “just in case”.

A few years ago my Dad and I were arguing about something. Somehow my childhood came into it. He had been remarking on something one of my sisters had been involved in briefly, yet couldn’t remember my similar, and more lengthy, involvement. I threw out that he hadn’t really paid as much attention to me, he couldn’t even remember this involvement. I was mad and hurt, and frankly behaving like a kid not an adult.

Fast forward a week. A package arrives in the mail for me from my Dad. What the heck is this? I opened it up and inside was a jar of buttons with a simple note.

I remember you always wanted a jar of buttons.

Your Turn

Take 10 minutes and really look at your desk. What messages are you sending yourself? What messages do you want to be sending? Transform your space into one that supports profit in your business. I’d love to see pictures – feel free to share on Facebook or post on Pinterest and tag me.

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The post What's On My (Profitable) Desk? appeared first on The Numbers Whisperer®.