Make That Money, Honey!
I love making money. Talking about making money, negotiating, talking pricing and discounts – it lights me up. (Let me be honest, while I’ve always loved making money, that doesn’t mean I’m perfect with it or that I haven’t winced at a bank balance or avoided opening a credit card statement – I’m still human!)
In fact, when my clients want to talk about money, I stand up taller, crack my knuckles, and get ready to dig in. That’s because when it comes to running your own business, you can pull different levers to adjust your business revenue and income. This flexibility can feel scary, but in many ways, it’s a gift.
On Episode 71 of The Amanda Wagner Podcast, we dig into some of the elements to consider around pricing, especially when it comes to selling a service that doesn’t come with a pricing formula. I’m talking how to assemble your proposals, who to have on your team for sharing and getting feedback, and how to frame your service and offering around value instead of around nickel-and-diming.
In my last five years as an entrepreneur and three years doing explicit strategy and coaching work around pricing, I’ve learned that many people are uncomfortable talking about money, and even more uncomfortable sharing that they want to make more. In fact, many of my clients have an idea of how much they want to make in a year, but when I ask how close they are, they have to dig into their accounting software to check or dig up a spreadsheet and fill out the last few months of data because they’ve let it slide.
If you’ve visited the blog or listened to the podcast, you know that I love:
a) Setting a goal
b) Tracking, planning, and list making, and
c) Stationery – give me all the notebooks, agenda, pens, and colouring supplies!
That’s why I created the Make That Money, Honey page!
And it’s all yours to download, print, and colour.
Let’s be honest, we never grow out of wanting some degree of validation, stickers, or gold stars. I created this to keep your eyes on the prize, your motivation up, and to give you an at-a-glance check on how close you are to reaching your goal.
PLUS: YOU decide how much you want to make and over how much time. You’re in charge, not me.
Some advice before you get started:
1. Remember that you can print more than one sheet.
Don’t get caught up over thinking finding the perfect amount for each bill – just get started!
2. Make it easy.
To stick to any kind of habit or tracking, you must make it easy. For example, some people like to track revenue at the same time they send invoices (and get to colour lots of bills at once!), some people like to track their revenue after accounting for expenses (more work but more accurate!).
Personally, I colour in these little bubbles as soon as I sign a new contract – because after I do my victory lap, looking at this page helps me get down to business and do the work!
3. Keep this chart handy and look at it regularly.
I’ve designed this to be easy, uncomplicated, and informal. It’s intended to motivate you, make you excited about the next contract or proposal, and give you proof that you can put some gas on your money-making engine when you want or need to.
4. Date those dollar bills.
This tracking system had an interesting impact on my business and the business of those who’ve used it; it can help you figure out the seasonality of your business! By writing the date on the dollar bills or colour coding by month, you have an easy way of seeing when you’re bringing in the most money and when it might be a slower time. Having this visual can help you see any (in)consistencies in your business and revenue generation.
5. Celebrate. I insist!
How many goals have we accomplished without reflecting on how much they once mattered to us? How many BIG DEAL things have happened that we forget about? Consider how you want to reward yourself for meeting your goal – and get rid of the judgement about external rewards. So take yourself for dinner, buy the handbag, take the trip, or frame this completed page.
Bonus points: DM me on Instagram @theamandawagner and tell me about it so I can cheer you on!
Let’s go make that money, honey!
AW
P.S. If you’re looking to get a sophisticated handle on your business finances and want to be a wizard of cashflow, check out this article by the brilliant productivity consultant Ashley Janssen – it even includes a cashflow spreadsheet template to get you started!