July 7, 2020
Today’s show is a super fun Q&A with questions from YOU, our listeners, all about all things business.
Today’s show covers some gold topics such as how to negotiate with your inner critic and stop hiding behind fear, pricing yourself as an entrepreneur or an educator, how we structure our business mentor sessions, and our top advice for investing in yourself and your business.
Ask yourself what are you REALLY afraid of? If you are stopping yourself from doing things out of a fear of something, you need to identify what it is you are actually afraid of. When we identify what we are actually afraid of, it is oftentimes not the thing we think it is. Chances are if you actually play out the scenario in your head of what it is you’re afraid of, it turns out it’s not THAT scary.
Say you’re afraid to start a business because you’ll fail? Walkthrough this scenario. If you fail, you may have to go back to your 9-5. You still have a job or you can still get a job. It may not be your dream job, but failing and having to go back to what you were doing before isn’t that bad. You learned how not to do something. You can try again in a different way next time or you can pivot and do something else.
We often make a big, bad scary monster out of the unknown. As human beings, we are really scared of the unknown. To combat that, make it known. Walk down the path of what-ifs and realize that it is not that deep of a rabbit hole and there is light at the end of the tunnel. Eliminate the unknown factor of your fears and address it head-on.
Whenever you are feeling fear, the best way to combat it is to pull back the curtain and see what is actually behind your fear and what it really looks like.
YOU are not a failure just because you tried something and it failed. This is called learning. If you aren’t failing that’s a problem. It means you aren’t taking risks, and risks are necessary for success.
Think of yourself as a 70 or 80-year old that is looking back on your life. What do you want your older self to see? What do you want your legacy to look like? Are you looking at a life that wasn’t going after the dreams and goals in your heart just because you were afraid?? You would probably MUCH rather look back at a life full of TRYING and FAILING than never trying at all because you were afraid.
If you are stopping yourself from doing something that is good just because you are afraid or because you think you are going to get judged, you might be preventing a life from being impacted by the words you have to say. Turn your focus on how others can be impacted rather than how you personally feel. We need to stop focusing on ourselves and rather focus on being of service to others.
As believers, our goal is to bring the kingdom to earth and represent Jesus on earth. It’s not about us. It’s about serving Jesus first and foremost and serving others. Focusing up and out is the best focus we can have in our lives.
We structure it more Q&A style. We ask our mentees to come prepared with questions and go from there.
For photography specific mentor sessions that include a shoot, we do the sit-down Q&A portion first and then meet up with our models to shoot after. The shoot portion is to let your mentee shine and to learn from you.
For one-on-one long-term monthly coaching sessions that require a minimum 3-month commitment, we have a super long and detailed questionnaire that goes over tons of details and questions that the coaching students have to fill out in advance. These go over goal yearly income, client details, current income, etc. It helps, as the educator, prepare a ton of information in advance to target exactly what the student is struggling with. It also helps the student tackle those questions before the session. The goal is to have them to get the most out of their investment.
It should be strategic and intentionally thought out, just like ANY other pricing as a business owner.
You need to know your numbers. You need to know what your cost of doing business is. How much do you need to earn to pay bills, eat, have a roof over your head, etc?
Do not price yourself just by looking at the people around you and going from there. You don’t know their full backstory about why they are pricing the way they are. You have to know YOUR numbers. Price yourself based on YOUR numbers. Nothing else.
You have to know your bottom line in order to operate your business successfully. Always have a hand on the heartbeat of your business, which is your financials.
Every business move you make should be very strategic and tackle one of the following goals:
What is your base hourly rate for anything you do to break even? What’s your base hourly rate that turns the hourly profit of your choice? (Do you want to make $50/hr? $500/hr?) Those numbers will dictate your end pricing.
We charged $800 for our first workshop. That covered our costs and we earned a tiny bit after that. It was an intentional marketing move (the second goal on that list) that resulted in a tiny bit of profit. It was our first workshop and we wanted to get our feet wet and start at a lower price. We didn’t just grab a random number. We knew our costs for that workshop and priced it as low as we could while still turning a SLIGHT profit.
The bottom line is to be strategic, think things through, and know your numbers.
Evie recently saw the quote that people are so willing to invest $100k into college but scared to invest $1,000 into their own business.
The best way to go about finding someone to invest in is to look at business owners in your field who are crushing it and actively succeeding at what you want to do. Look at their reviews or testimonials from past students and see what they have to say. Do they show results??
Pay attention to who you want to learn from and how you invest your money. Make sure you are learning from people who are doing exactly what you want to do and that you trust them.
Invest sooner rather than later. Don’t wait until everything’s perfectly in line to invest. Investing will get you where you want to go faster than trying to do it all on your own.
Ultimately, YOU are responsible for yourself, your success, and your business. YOU have to put in the work. You can’t just buy a great business tool and expect overnight success. You also can’t invest in education or training and then not do what you’re taught. Investing is huge. But it’s also just the beginning of all the work.
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WASSUP FRIENDS. We’re Evie + Lindsey, co-founders of this wild partayyy called The Heart University. Our goal is to empower entrepreneurs to kick freaking BUTT in their businesses, dive down into the heart of their why and how, and serve you with all possible tools you’ll need to up-level your business game and CRUSH those goals of yours.
Whether you’re coming to an in-person workshop, joining our online course, or soaking up all the strategies via this blog or our podcast, we’re STOKED you’re here + can’t wait to see you out there kicking butt.
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