RULES FOR MAKING MONEY – Profitable work versus ‘busy-ness’!
Let’s talk about why people aren’t earning what they believe they should be. They put in the hours, they do the work, if you look at the pay cheque at the end of the month and wonder what it’s all about, then this post is for you.
Is your business as profitable as you’d like (is your salary where t should be)? If not, then it’s time to stop. Take time out to refocus and put a plan of action together to ensure your time is spent maximising your salary or reward. Having a ‘hobby business’ is fine if that’s what it is, a hobby. But if you need your business to support you (and / or your family) financially, then it is time to get serious.
Without actively working on your profit strategy, it’s too easy to carry on for another month, and then another and before long 2017 will have slipped by and what…. you haven’t made the changes necessary to ensure you are paid what you deserve. Not nice.
I published an article in January about saving money – setting financial goals for 2017.
Putting money aside to ensure our financial goals are met (and not working for a pay cheque without planning for the future) is up there at the top of my financial rule book. Yes, I enjoy working but without a plan for the future and setting goals, will I be working until I’m 65? What does my life look life at retirement? What happens if my healthy 41 year old body decides it can’t work to mid-60s? Can my husband and I live comfortably on one salary if he can continue to work into his 60s?
Let me put this out there first – we don’t have an extravagant lifestyle. I’ve been a long term fan of articles by Mr. Money Mustache and Mr. Warren Buffett is my all-time hero. Maybe not ‘hip’ or ‘cool’ but I adore this 87 year old. His wisdom is something of generations past. Solid! He talks and I hear my Granddads voice or my parents’ voice in my mind. It might sound like old school advice but my idol, Mr Buffett, is one of the most successful investors in the world we live in.
So it’s now almost the end of May 2017. That passed quickly! I hope the readers of this article are on their way to meeting their financial goals or at least knowing that whatever they are doing right now and whatever their financial position might look like right now, steps can be taken to improve the situation if you aren’t quite there yet.
Your value is measured in so much more than monetary terms but if the monetary part isn’t where it should be, it needs to be addressed.
Join Wendy and Sarah on the 24 June 2017 for their financial confidence workshop for a day of strategic planning for your business.
Book now to avoid disappointment – http://womeninbusiness.pagedemo.co/