In this episode, Monica dives into the crucial aspect of setting the right prices for your products or services. She emphasizes the importance of knowing your true costs, including all expenses, to avoid operating at negative or slim margins. Through a real-life story, Monica illustrates the pitfalls of underpricing and the necessity of calculating costs accurately. She also touches on the significance of financial statements, particularly the Profit and Loss statement, for maintaining profitability. Monica advises against competing on price alone and encourages adding value to distinguish your business in a competitive market. This episode is a treasure trove of insights for entrepreneurs looking to master their pricing strategy, underscored by the quote, "Never lower your price. Add value."

Join the ⁠⁠Become Your Own Boss Facebook Group⁠⁠

In this compelling 2-minute takeaway, Monica shares a candid glimpse into the soul-searching moments of her entrepreneurial journey. She touches on the seldom-discussed realities of entrepreneurship, such as the unpredictable income and the solitude that can accompany the path to success. This brief yet powerful segment is a must-listen for anyone considering the leap into entrepreneurship, offering a snapshot of the challenges and introspection that come with the territory. Monica's insights serve as both a caution and an inspiration, making this takeaway a beacon for aspiring entrepreneurs seeking to understand the true essence of forging one's own path and being the boss.

In this episode of the continuing Kickstart Your Business series Monica discusses a crucial marketing tool, the SWOT analysis which allows you to look both internally and externally at your business. She break down Strengths, Weaknesses, Opportunities, and Threats and walks you through each sharing the vital questions you need to ask yourself. She gives concrete examples by using her store Zeus' Closet as a case study. Exploring the importance of recognizing your company's differentiating factors, Monica shares with you how to outshine your competition. Listen so you are empowered with tools and insights to level up, leave a legacy, and truly become your own boss.

Unlock the key to business success in this episode as Monica delves into the winning strategy of defining your target market. Learn how to analyze your audience using micro-target markets, demographics and psychographics. Sharing multiple examples, you will be able to put this together for your own business so you can effectively craft marketing materials for your ideal customer or client.

Episode Quote:

There is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market. ~Philip Kotler

Join the Become Your Own Boss Facebook Group

Feel free to email me with questions or thoughts around starting and maintaining your business.

In this episode, we dive into the less glamorous, but absolutely crucial steps to get your business off the ground. Monica walks you through the essential checklist every new entrepreneur needs, from opening a bank account to securing your tax ID number. Whether you're a sole proprietor or incorporating your business, this guide will ensure you're set up properly and ready to focus on what truly matters: your customers and business growth.

Feel free to email me with questions or thoughts around starting and maintaining your business.

Join Monica in part 3 of the 'Kickstart Your Business' series as she leads a focused discussion on one of the most critical steps in launching your business: choosing the right name. This episode dives into the intricacies of selecting a name that resonates with your brand identity, appeals to your target audience, and stands the test of time.

Episode Quote: When people use your brand name as a verb, that is remarkable. ~Meg Whitman

Ensure you're subscribed to 'Become Your Own Boss' on your preferred podcast platform to not miss out on invaluable advice for your entrepreneurial journey. Follow us on social media for more tips, updates, and a community of fellow entrepreneurs.

Join the ⁠⁠Become Your Own Boss Facebook Group⁠⁠

Get your⁠ ⁠⁠⁠Become Your Own Boss Planner⁠⁠⁠⁠

Helpful Entrepreneurial Resources from Become Your Own Boss

Download ⁠⁠⁠Monica's FREE ebook⁠⁠⁠

Ways to reach Monica:

Join Monica in part 2 of the 'Kickstart Your Business' series, where we explore the essential elements of launching a business: defining your product or service, identifying your target audience, choosing distribution channels, setting a realistic timeline, understanding your core motivation, and highlighting your Unique Selling Proposition. Get ready to dive deep into these foundational aspects, crucial for any aspiring entrepreneur. Tune in for insightful tips and a dose of inspiration to fuel your entrepreneurial journey.

Episode Quote: A small business is an amazing way to serve and leave an impact on the world you live in. ~Nicole Snow

Join the ⁠Become Your Own Boss Facebook Group⁠

Get your⁠ ⁠⁠Become Your Own Boss Planner⁠⁠⁠

Helpful Entrepreneurial Resources from Become Your Own Boss

⁠⁠Monica FREE ebook⁠⁠

Ways to reach Monica:

On this episode Monica introduces the "Kickstart Your Business Series", aimed at new entrepreneurs, those considering starting a business, and those navigating early-stage challenges.

Main Points:

Episode Quote: Feed your mind just as you do your body. Feed it with good ideas, wherever they can be found. Always be on the lookout for a good idea; a business idea, a product idea, a service idea, an idea for personal improvement. Every new idea will help to refine your philosophy. Your philosophy will guide your life, and your life will unfold with distinction and pleasure. ~ Jim Rohn

Join the Become Your Own Boss Facebook Group

Episode Sponsor -  Zeus' Closet 

Helpful Entrepreneurial Resources from Become Your Own Boss

⁠Monica FREE ebook⁠

Get your⁠ Become Your Own Boss Planner⁠

Ways to reach Monica:

Happy New Year! On this episode Monica discusses her recent California adventure and how she is turning visions into action for an amazing 2024. You can do the same.

Soaking up creativity and inspiration, the Allens decided to swap out traditional gifts for a family trip to Universal Studios and Hollywood. From the magic of Super Nintendo World to iconic spots like the Central Perk couch at Warner Brother Studios, the entire family had a blast.

Riding the train to San Diego and staying with entrepreneur friends is always a treat and. New Year's Eve was very special as Monica & Ethan shared their family's goal-setting tradition.

Want to join in? Grab our simple worksheet at www.getgoalsdoneworkshop.com.

Listen to learn how to set your 2024 Vision. Let's make 2024 a year of action and achievement!

Episode Quote:

Vision without action is merely a dream. Action without vision just passes the time. Vision with action can change the world.  Joel A. Barker

Helpful Entrepreneurial Resources from Become Your Own Boss

Get your⁠ Become Your Own Boss Planner⁠ to better set yourself up for success this year.

Join the⁠ ⁠Become Your Own Boss Community⁠⁠

⁠⁠Monica FREE ebook⁠⁠