Pat yourself on the back! If you’re a returning reader, you’ve learned a lot about business finances already! Hopefully, you’re feeling more confident and are ready to grow your business. If this is your first Mitchell Consulting blog you’ve read, you’re seeking out knowledge for your business so you deserve praise too! These healthy money habits will help you reach whatever financial goal you set.
However, you might not know what your goal is or how to create one. The process involves coming up with numbers and then testing them out. There are a couple of factors you’ll want to consider:
Best-Selling Services. With a separate business account that you regularly devote time to, you’ll likely already know which of your services is most popular. The services that bring in the most money will be the key to reaching your goals faster and smarter.
Time Frame. Next, you’ll need to ask yourself how much time you want to give yourself to reach your goal. If you’re looking to increase your profits by a large amount, you may want to give yourself more time. The way to create a financial goal that can be reached efficiently is to base it on how much of each service you would have to sell within your chosen time frame to reach your goal.
Pricing. Your current time frame might not have much room to budge. If your current pricing requires you to produce an impossible amount of services in a short amount of time to reach your goal, it may be time to reconsider your pricing strategy.
I started Mitchell Consulting with the intention of turning your passion into profit. Profitable businesses know the value of their services and price accordingly. When women price their services for profit, they become an economic force for good.
Once you know how to grow your financial knowledge and apply it to your business, there’s no stopping you from achieving your goals. I hope you take what you’ve learned about financial literacy and carry it with you to maximize your success!
