The Cost of Doing BusinessNow that I’ve talked about Business Models (Model Behavior) and Revenue Models (Making Bank), we need to talk about Cost Structures. Most entrepreneurs I know are stymied by the question, “What’s your cost structure?” Honestly, it elicits blanks stares. Recently, the owner of a small agency told me, “It’s cash versus accrual based, right?” I gave her an A for effort, but cash and accrual are not cost structure options. They refer to accounting and, more specifically, how you record income and…Keep Reading
Making Bank 💰This week, I want to dive into one aspect of your business model that often confuses and confounds entrepreneurs, their revenue model(s). One thing I want to make clear, a revenue model isn’t the same as a pricing model. Even in resources I’ve read by respected business experts and institutions, I have found these two conflated. While they are intrinsically connected, they’re different. Simply put, a revenue model is the strategy by which you will earn money. A pricing model is the strategy…Keep Reading
Model BehaviorTeaching entrepreneurship and working with clients has taught me that the concept of a business model is challenging for many to understand. When I ask someone, “What’s your business model?” I get a lot of blinking and stammering. I get it. I couldn’t have told you my business model for the first several years of my business. If asked, I would have answered, “Making enough money to live comfortably on an ongoing basis?” (Note the question mark.) While that’s a worthy goal, it’s definitely not…Keep Reading
📣 Cheers to YouThis past week one of my very first clients—actually, my second paying coaching client ever—published her first book, Be Your Own Cheerleader. I couldn’t be prouder. When I met Neelu Kaur, she was in the midst of transitioning from a full-time employee to a full-time entrepreneur, looking for a way to combine her leadership training skills with her deep interest in and commitment to ayurveda practices and wellness. Fast forward ten years and she’s a highly sought after speaker and presenter…Keep Reading
Grace Is the WordYou know sometimes you see something, and you go, “huh?!” And the next thing you know you’re seeing that thing all over the place. That’s been happening to me with something called the One Word for the Year Exercise. It’s like the universe is trying to make sure I pay attention to this. So, let’s do it. What is it? Basically, you’re meant to distill your major goal or focus for the year into one single word. What’s the purpose? Your one word then serves as both motivation and reminder…Keep Reading
Family BusinessI’m with my mom this week and upon arrival she does what she usually does—pepper me with questions, requests, and worries about technology, money, the house, and her healthcare. Usually, they’re the same worries and concerns we’ve discussed on the phone over the prior few weeks. Many, I know, I’ve either already tackled or have addressed with her in some way or another, hoping to put her mind at ease. But none of that sticks. And so, I begin to tackle this visit’s list of to-dos. I want,…Keep Reading
Now that I’ve talked about Business Models (Model Behavior) and Revenue Models (Making Bank), we need to talk about Cost Structures. Most entrepreneurs I know are stymied by the question, “What’s your cost structure?” Honestly, it elicits blanks stares. Recently, the owner of a small agency told me, “It’s cash versus accrual based, right?” I gave her an A for effort, but cash and accrual are not cost structure options. They refer to accounting and, more specifically, how you record income and…Keep Reading
This week, I want to dive into one aspect of your business model that often confuses and confounds entrepreneurs, their revenue model(s). One thing I want to make clear, a revenue model isn’t the same as a pricing model. Even in resources I’ve read by respected business experts and institutions, I have found these two conflated. While they are intrinsically connected, they’re different. Simply put, a revenue model is the strategy by which you will earn money. A pricing model is the strategy…Keep Reading
Teaching entrepreneurship and working with clients has taught me that the concept of a business model is challenging for many to understand. When I ask someone, “What’s your business model?” I get a lot of blinking and stammering. I get it. I couldn’t have told you my business model for the first several years of my business. If asked, I would have answered, “Making enough money to live comfortably on an ongoing basis?” (Note the question mark.) While that’s a worthy goal, it’s definitely not…Keep Reading
This past week one of my very first clients—actually, my second paying coaching client ever—published her first book, Be Your Own Cheerleader. I couldn’t be prouder. When I met Neelu Kaur, she was in the midst of transitioning from a full-time employee to a full-time entrepreneur, looking for a way to combine her leadership training skills with her deep interest in and commitment to ayurveda practices and wellness. Fast forward ten years and she’s a highly sought after speaker and presenter…Keep Reading
You know sometimes you see something, and you go, “huh?!” And the next thing you know you’re seeing that thing all over the place. That’s been happening to me with something called the One Word for the Year Exercise. It’s like the universe is trying to make sure I pay attention to this. So, let’s do it. What is it? Basically, you’re meant to distill your major goal or focus for the year into one single word. What’s the purpose? Your one word then serves as both motivation and reminder…Keep Reading
I’m with my mom this week and upon arrival she does what she usually does—pepper me with questions, requests, and worries about technology, money, the house, and her healthcare. Usually, they’re the same worries and concerns we’ve discussed on the phone over the prior few weeks. Many, I know, I’ve either already tackled or have addressed with her in some way or another, hoping to put her mind at ease. But none of that sticks. And so, I begin to tackle this visit’s list of to-dos. I want,…Keep Reading