Staying Solo | Business Strategy for Service Providers, Creatives and Consultants

2023 was a wild ride for the economy, with countless twists and turns that left many business owners unsure how to price their services.

The good news? We're still here, running our businesses and making it work.

The tricky part is staying flexible enough to weather whatever the economy throws our way next.

As we continue our series on the number you need to know in your business, this episode is all about pricing and the key numbers you need to work with to ensure your pricing makes sense…without falling for the BS advice of "just raise your prices" or "charge your worth".

Topics discussed in this episode include:

• The current economic climate and what you may be experiencing as a service business.

• Why we can't price based on vibes or magical thinking despite what the coaches on IG may tell you.

• How inaccurate pricing can mess up your business.

• What do you do if clients say they can't afford your services?

• Getting real about your current pricing structure.

• Practical steps for pricing your services now and in the future, regardless of the economy.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

When it comes to bad business advice, some of the worst I've ever received was about my financials.

And even if you're pulling in good money, following lousy advice can leave you underpaid and constantly feeling like you're scrambling for every dollar. You're working for your money, but your money definitely isn't working for you.

In this episode, I'm kicking off a new series about the numbers you need to know in your business. We'll start with a fresh look at your financials so your math adds up and gets you paid.

Topics discussed in this episode include:

• What to do if you've been derailed by BS financial advice.

• Why your numbers provide critical data to make good business decisions.

• How can you get to know your numbers better and become comfortable using them as a strategic tool in your business?

• How to analyze your numbers and spot trends.

• Managing expenses and effective budgeting.

• Understanding your profit margin.

• How to pay yourself a consistent salary.

• Practical things to go away and implement in your business related to your financials.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

This week, we're sharing our most recent Duped episode where we discuss understanding the risks of payment plans in online business.

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Have you ever bought something on a payment plan and quickly realized you're unsatisfied, but there's no way out?

The fact is, not all payment plans are created equal. While they can be an excellent way to pay for something over time, the flip side is that they can also be weaponized by celebrity entrepreneurs and used to handle sales objections.

So, what risks should you, the consumer, know about before buying a course or program using a payment plan?

In this episode, we're equipping you with the knowledge to make informed decisions about what you buy and how you pay for it.

We discuss:

• The pros and cons of payment plans.

• How payment plans can be weaponized to handle objections.

• How much is a reasonable markup on a payment plan?

• The possible pitfalls of extended payment plans.

• Why incentives for paying in full can be problematic.

• How third-party payment services can make payment plans more questionable.

• Questions to ask before you buy.

For detailed show notes and links to everything mentioned in this episode, please visit duped.online. For more Duped, including monthly bonus episodes, join the Patreon.

Running a business can be a rollercoaster. One minute, you're up; the next, you're down; some days, it can feel like you're hanging on for dear life.

While the ride can sometimes feel invigorating, other times it can feel downright terrifying.

So, how do you learn to adapt and roll with the changes as they come?

In this episode, we're wrapping up our exits and evolutions series, looking at the theme that change is the only constant in business.

Topics discussed in this episode include:

• Why change can be hard and the psychology behind it.

• Change management: the 4 Cs and why it helps make business decisions.

• Reasons you may want to make changes or not in your business including changes you absolutely want to avoid.

• The role of our feelings in changes and what you need to watch for.

• Why you don't want to chase trends.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

Have you ever daydreamed about chucking it all in and leaving your business behind for something new?

While this daydream isn't uncommon, it's often hard to conceptualize how (or why!) you'd walk away from a thriving business.

In the last Exits and Evolution series interview, I interviewed fractional integrator and operations strategist AdeOla Fadumiye.

Adeola boldly shut down a business that worked for her as she wanted different challenges and opportunities.

Topics discussed in this episode include:

• Why AdeOla shut down her podcast production agency and what led to that gut-driven decision.

• What's she been doing since sunsetting her agency and how has she figured out what's next?

• How consulting gigs have helped her clarify what she wants to focus on moving ahead.

• Why she's looking for a 9-to-5 role as she builds up her new venture.

• AdeOla's advice for anyone wanting to make a big move in their business.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

As a service business owner, have you ever wondered if adding products would be a solid revenue-generation strategy?

The reality is that despite being told that creating courses and other products is a fast path to passive income, it's far easier said than done.

In this episode, Zoe Linda shares how she blended products and services and adapted her offerings over time to meet her needs.

Topics discussed in this episode include:

• Zoe shares how she's built her business with digital products, courses, and client work, including insights into what worked and what didn't.

• The ongoing battle of prioritizing and executing ideas while juggling client demands.

• How she's used products to reach more people and build community.

• The important role of market research and validation and provides valuable tips on how to ensure you're creating things people actually want.

• Exploring pricing and scheduling for day rates, and how Zoe has learned to set boundaries and stay motivated on those days.

• The different types of clients that Zoe works with and how creating a productized service impacted her business.

• An honest look at managing capacity and not compromising your values for revenue.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

Do you ever feel like keeping up with social media is impossible? Or maybe you don't even care to try in the first place? With social media constantly evolving, and as a business owner, it can be hard to gauge what actually matters and how much time and effort you "should" be throwing behind it.

In this episode, Andréa Jones, a mindful marketing strategist, discusses her evolving approach to social media and her desire to have deeper conversations about its impact.

Topics discussed in this episode include:

• The importance of aligning your work with your values for long-term satisfaction and fulfillment.

• Setting boundaries and privacy in the digital age, including what Andréa shares and doesn't share.

• How Andréa's business and viewpoint have been evolving, and why she made a point of sharing them publicly as she thought them through.

• Her focus is on conversations and conceptual topics over tactical strategies as part of social media.

• Andréa's transition from a solo business to an agency and why having a team was essential when managing social media.

• The social media landscape is evolving in specific ways, and content creation is no longer the sole focus.

• Why is evolving and adapting your approach to social media crucial, and why is there no one-size-fits-all solution?

• Why transparency and authenticity are key in building trust with your audience and standing out in a crowded online space.

• What's in Andréa's future vision as a facilitator and shining a light on other experts.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

To keep the conversation going about Exits and Evolutions, we have our first guest of this series: Jules Taggart. She's gone from being a solo business owner to an agency owner and is back to being solo again.

In this episode, Jules, a fractional CMO and the founder of Wayward Kind, shares how she built an agency and transitioned back to a solo business.

Topics discussed in this episode include:

• The financial and mental health challenges of agency ownership, the importance of considering profitability, and the impact on your team.

• Hiring the right people is crucial for an agency's success, and it is important to assess the profitability of each client engagement.

• How she intentionally built her agency and made hiring decisions as she tripled the size of her team.

• What happened when Jules decided to shut down her agency and what she considered as part of the decision-making process.

• How she told her team and clients, and how everyone received it.

• The interesting ways her role changed when she moved from agency owner to fractional CMO.

• Our thoughts on whether you should hire someone to do sales for your agency and the different types of sales approaches.

• The critical importance of a personal brand and your client's relationships as you navigate major changes in your business.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

It's easy to think making changes to your business will magically solve your problems.

But let's be honest. Change can be HARD, so when do you know when it's the right time to make a change?

In this episode, I'm sharing how to recognize when to adapt, whether keeping up with trends, using new tech, or meeting customers' changing needs. (And when maybe the smarter choice is to stick with what you're doing.)

Topics discussed in this episode include:

• What's currently happening that's resulting in a potential need for change?

• The relentless cycle of reinvention in online business and how trends/ tactics come and go.

• Some of my exits and evolutions over the years.

• The different factors that can drive change in business — market trends, tech advances, changing customer expectations, personal needs, economic conditions, etc.

• What can you expect in some future episodes in this series.

For detailed show notes and links to everything in this episode, please visit bsfreebusiness.com. To stay in the loop by email, sign up for updates at https://bsfreebusiness.com/newsletter/

This week, we're sharing our most recent Duped episode, where we break down what's going on in the world of "ethical" business.

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Is the state of ethical business actually improving in 2024? Are we actually making some progress?

Well, it's a good news/bad news kind of story.

The good is that we're finally starting to see more and more people reject the status quo business practices, including manipulative marketing and scammy sales practices.

The bad is that this industry is very fickle, and while it's good to hear more discussions about ethical business, certain topics have fallen off the radar. And whether these conversations translate into change still remains to be seen.

In this episode, we're digging into the state of ethical business in 2024 and having a raw conversation about where things really stand.

We discuss:

• The monetization of burnout and why hustling isn't what it's cracked up to be.

• The sudden pivot from people who used to talk about "the right way to market" to now preaching the opposite.

• The predictable patterns in the industry and why it's often easy to see what's coming as things shift.

• What we recommend you watch for in the coming months.

For detailed show notes and links to everything mentioned in this episode, please visit duped.online. For more Duped, including monthly bonus episodes, join the Patreon.