How to make a Healthy Income!

Written by Julia Bickerstaff // September 16, 2014 // Premium // No comments

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Hello YOU from the Sass Summit! Thanks for popping over!

Here are some reminders of what you can do TODAY to make a Healthy Income and bake a beautiful business.

1. Work out your profit per hour

You can work out your profit per hour using the little calculator here. The maths is the easy bit. The tricky part is working out how many hours you worked, and (if you’ve not got great financial records) how much profit you made. Give it a go though, it’s totally worth it!

You might also want to think what you’d like your profit per hour to be.

2. Keep a timesheet

Keeping a timesheet is EASY and super-useful!

3. Understand where your money goes

A quick way to workout your Business Recipe is:

1. Allocate all your expenses for last year to one of three categories: CUP, COFFEE and COCOA. CUP is product/service costs; COFFEE is sales and marketing costs and COCOA is admin and everything else!
2. Work out how many units you sold last year
3. Divide your Income (sales revenue) by the number of sales units to get your ‘price’
4. Divide your CUP, COFFEE and COCOA by the number of sales units
5. Work out your per unit profit by taking CUP, COFFEE and COCOA away from your “price”
6. Now you can write your Business Recipe like this:

4. Put your prices UP!

1. Remember Pricing tells a story
2. A 10% price increase makes a BIG impact on your profit but is easy on the wallet for customers
3. Don’t discount. THIS shows you the awful things that happen when you do!
4. Remember Anchoring and Good, Better, Best
5. Here’s a collection of pricing posts you might like!

5. Get rigorous about finding customers

Gah! We ARE in selling. Every day we have to *think* about selling. But it’s not so bad. Here are some blog posts which might help!

10 Marketing tips for a little business like YOURS!
The easy-peasy way to do 15 minutes marketing a day
Help! My marketing’s not working!
Stuck for marketing ideas? Do this!
The BEST way to do marketing
A fabulous little marketing tip!

6. Start valuing your TIME

1. Do this:

2. Stop being a Perfectionist
3. Start a STOP doing list
4. Quit thinking you have to do EVERYTHING

7. Make it happen!

Goals help us focus. Otherwise we can get a bit scatty! Here are some goal-y blog posts!

The 100 day journal
How to make your goals more achievable
Diary of 1000 sales
Turn your dreams into a plan

Did you like THIS?! Have you got some ideas for how you make YOUR business smarter! You can pop them in the comments or message me here.

WIN

Fancy winning a copy of How to Bake a Business? Just send me a note (you can use this) telling me what your business is called, what you sell and how we met (Sass!) and you’ll go in the draw. EASY!

Special discount

You can also get a special little discount on our Healthy Income Program! You can get the first month half price just by being part of the Sass Summit! YES! No draw! EVERYONE gets it!

Wanna know more?! Just have a read of the info HERE to see if you like the thought of the program. If you do, reserve your spot HERE and then contact me to tell me you’re from Sass. I’ll then give you the info you need! Oh yes, and don’t panic, there’s NO commitment to join the program if you reserve a spot!