Stories

  • Business For Life

    Now is the time to create your business for life!

    Business for life

    Today’s guest is Dan Critchett Host of the radio show Second-Half Now! which is a collaborative community for boomers and beyonders. As an ordained paster, Dan helps people move through different stages of life. On his radio show he focuses on boomers thriving as they move forward to finding and fulfilling their calling.

    It used to be that when people reached their fifties and beyond they had a clear idea of what came next. Today is a very different reality. As we reach ‘retirement age’ there are five different areas that people need to bolster: Home and family, health and wellness, budget, heart and soul, work and purpose – so that you can contribute and be meaningful in your daily living.

    A tough reality at this time of life is that we need an income stream because most who had worked their whole life in the corporate setting are finding that they don’t have that pension they had planned on. 86% of people worry about income stability. With today’s extended years of people today, finding a way to create income is essential. It’s been called the ‘Longevity Economy’.

    This episode discusses this topic in depth including ideas and resources. Listen in.

     

  • But What If I Need Money Now?

    How do I balance the time I need to focus on my business and making money to survive?

    I believe mission creep comes from two sources:  a fear that the work you want is not attainable and more importantly a fear that there will never be enough money if you follow your dream.  Mission creep can also happen because of a fear that if you don’t take the first thing that comes along, you will remain poor and without work forever! 

    But what if I need money now?  That is the big question.  I often hear “How am I supposed to spend all this time working towards my future goals if I still have to support myself?”  My answer is:  You take the minimum time needed to make enough survival money and then you spend the rest of your time focusing on your goal.  Taking short term work is not necessarily mission creep as long as you keep your laser focus on your business goals. 

    Recently I spoke with a creative entrepreneur that had returned to his previous transport job on a part time basis because it was easy, he knew the work and being part time allowed him the time he needed to focus on the goals he had for his computer programming business. 

    I know that it can be extremely tempting to go for the easy money when money is tight but I encourage you to make your choices with a very careful eye on the future.  If you consistently take work outside of your direct mission or take a long term job in a completely different direction you may be giving up your entrepreneurial dream and turning it into a “beloved hobby.”

    What ways have you made money while getting your creative business under way?  Share with us below.

  • What is Mission Creep?

    Most Creative Entrepreneurs suffer from Mission Creep so what is it?

    Before my clients call or email me for consulting they are usually fully entrenched in mission creep.  These creative clients see so many opportunities that they can hardly sit still and they bounce off into all directions.  They do a little of this and a little of that, following every new idea that comes along, hoping this is the one!  They eventually find themselves spread so thin in all their efforts, trying to keep all of their ideas a float that there is not time or money or energy for any of their endeavors.  I believe mission creep also comes because creatives have a fear that the work they want is not attainable and more importantly a fear that there will never be enough money if you follow your dream. 

    Well, meaning loved ones also help with mission creep as they offer suggestions for work that is “like” what you’re real intention for work is but is not exactly what you really dreamed you would be doing.  The problem is that you take a job “like” what you want to do then that leads to another “like” it but a little further away and another and another until finally you are so far away from your original mission that you are burned out.

    Here is a page from the workbook, Better, Smarter, Richer.  This client had a huge awakening when she sat down and finished this exercise.  Do the exercise yourself and see if you suffer from Mission Creep.  If you find yourself fully entrenched what can you do to avoid mission creep? (Hint:  The next exercise in the workbook has all the answers to this question.)

    Do you suffer from Mission Creep?

  • A filmmaker starts to charge what he is worth!

    I love to hear reader stories. I have heard so many in the past 20 years about people whom I tell about the ideas in Better, Smarter, Richer and I just watch the light click on! It was the same for Wes.  

    Wes is a very, very talented film maker. But as you can imagine, making money in the feature film industry is not always easy. I know he will do it, but for now he wants to use his talents to make smaller films and get paid for his business work. He asked if it is mission creep ( a concept in the  book) if he took work on smaller projects and I said, “No, you are still doing creative films in the business world. This will make it possible for you to work on your bigger projects. If you told me you were putting your dreams away to film weddings in order to make a living, I would call that mission creep!”

    Wes found quite an amazing job.  He is working for a publishing company that makes feature videos about the authors that look like television shorts. It’s creative and definitely work he can use on his resume in order to avoid the time money squeeze and get what he is worth! I think the book saved Wes from charging too little and moving into the wrong field. He is a movie maker! There is always a way to reach your dream.

    Jackie

    PS: Here is a Wes update. He is started to get more offers for corporate work- it’s still artistic enough to keep him on his path, but he has no idea what to charge.  He first told me that his price was $20 an hour!  If you have read the book, you are cringing now! I told Wes that with his talents his STARTING price should be $50 an hour and he can go from there.  I will keep you posted on what happens!

  • Are You in the Time/Money Squeeze?

    My client Rosanna had an idea for a scarf project made from beautiful wool and a beaded fringe. She designed the look, chose the yarn and bought the beads. She carefully wrote down the cost of these products and estimated the time it would take her to make each scarf at 1.5 hours. Based on this information, she then decided to sell the scarves for $45 a piece at a craft show.  This seems like a reasonable price point. She split the cost of a booth with a friend and helped advertise the show. All of this was natural to Rosanna as she had been in the artisan business for year, even though she had never really made enough to support herself!  She sent an email to her friends, wrote a blog, sent out a newsletter and used Facebook to get the word out. Rosanna got to work. She found that creating the scarf and the beaded fringe took longer than expected and was close to two hours. So she told herself to work more quickly. The length of the bead fringe shortened and she switched from a colored bead selection to a two tone look.  Eventually, Rosanna had 20 scarves. She wanted a lot more, but considered that at $45 she would make a good profit.  The day of the event went well, and Rosanna sold out all of her scarves.

    But how much money did she really make? When she came to see me at the small business development center to get advice on how to make her business more profitable, I knew she was about to get some eye opening news. I was going to tell her about the Time/Money Squeeze- strategy #5 in Better, Smarter, Richer.

    continued below…….

    Jackie