As promised, February’s income report coming at you! Inside we’ll chat about what you don’t see (this may have something to do with our new Burrito method), our Facebook Ads experiment and a little #TeamTCC update.

Normally I’d tell you to grab a cup of coffee, but I feel like this one deserves a bag of chips and some fresh guac. Enjoy!

Do you dream of having your own shop? Do you have visions of customers oohing and aahing over your latest creations while sipping a cup of tea or free-trade coffee? There are several options for showcasing your product-based business, from a rented committed storefront, to fairs and festivals, to a booth in a co-op or antique mall.

As a bookshop owner who has pivoted through a few of these business models, let me share some pros and cons and lessons learned along the way.  

One of the most exciting milestones for any solopreneur is getting to the point where they’re ready to quit your 9 to 5 job… and work as a full-time home-based business owner. The mistake that many solopreneurs make? Quitting their 9 to 5 jobs without a strategic plan in place for doing it in the most effective way possible.

Here’s the thing: if you give your two weeks’ notice and start working from home full-time without a strategic plan in place, you’re going to run into problems.

There comes a point in every entrepreneur’s life when they realize they need a little bit of help. Or a lot a bit of help (yes, “a lot a bit” is a thing, thank you). Most of the time when someone finally admits this to themselves or out loud on social media, they don’t know where to start — they just know they’re overwhelmed. Now, I’ll say this and leave it here — there are many different types of virtual assistants and it can get cray-cray sorting through them all, but by knowing your business, you’ll be able to wade through the different types easier. But today we’re focusing on what to do before you decide to hire someone.

When you own your own business, you don't have the luxury of filling out a quick form and handing it into your boss for reimbursement. You are the boss. And there are a lot more things that all of us entrepreneurs need to take into account when filing taxes for our small business. One of the major things that gets forgotten or not taken advantage of is deductions. Today, the amazing Amy Northard, the Accountant for Creatives, is filling us in about deductions!

There are so many deductions available to small businesses that it’s easy to overlook some of them. While you’re working on your taxes, keep these deductions in mind so you don’t miss out and overpay.

We all know that it can be difficult to work for yourself and that stress and burnout are real concerns. As an entrepreneur, you often have to deal with unusual working hours, time pressures, risk of failure constantly looming, irregular money coming in, and limited social interaction.

The number of new small business owners and entrepreneurs is rising every day, and prioritizing your self care is an integral part of success. Self care is any activity that you do voluntarily which helps you maintain your physical, mental or emotional health. It can help you feel healthy, relaxed and ready to take on your work and responsibilities. Sounds like something we all need, right? But I wonder how many of you are engaging in enough self care to balance out the incredible stress that comes from running your own business.

If you own a business, especially if a portion of your prospecting is done online, you have undoubtedly been asked, “What do you do exactly?”. We’ve struggled with this question ourselves in the past, and used to find ourselves stumbling over our words, feeling like we needed to adjust our elevator pitches based on who we were talking to at the time. It’s easy to become a little frustrated, although you can’t show it, because even though you understand your business and your business model, not everybody else does. Plain and simple, people are not in your head. They don’t read everything you write. And they definitely have no idea what you’ve already said to other people.

When selling a product or service, you are automatically categorized. You might be the local boutique or the big-box name brand, but these are just categories. And once you’re in a category, people compare you to others in the same category. Instead of making yourself or your business what you “think” you are supposed to be like, make it more about YOU.

Woah! What a way to start the year. January was a total whirlwind. In just a few short weeks we launched a new program, started a podcast and Emylee adopted Penelope! We definitely learned a lot, pivoted and restructured a whole bunch — so read on to see all the strategies we started to implement in January of 2017.

Why we do income reports?

In an effort to be as transparent as possible in our own business we have chosen to make 2017 the year we showcase the good, the bad and the ugly. That means we talk about money on months we bring home the bacon and on months we’d rather not discuss finances. We hope you learn a LOT from these reports. Replicate and tweak our strategies to use in your own business. Get inspired, learn from our mistakes and grow your own online business.