Manage episode 283098617 series 2793529
Increasing your revenue is great, but it shouldn’t be your only goal. Not by a long shot!
Planning ahead and finding ways to reduce expenses are just as important.
My guest Eowyn Levene is a money coach and the host of the Creatives Do Money podcast. She’s found that many of her clients come to her with the idea that her coaching is all about helping them make more money.
They soon realize that business finances are about so much more than increasing revenue.
Often, they can tap into unexpected levels of financial freedom — without earning a single dollar more in revenue!
It’s so important to figure out how to manage your finances at the beginning of your business journey, because guess what? Money problems scale. Doubling your revenue won’t solve your budgeting issues. You may find that, as you grow, so do your money leaks. This means that you’ll be making far less profit than you think!
So, how do we spend less money?
Many businesses go overboard with marketing expenses, targeting too large an audience rather than honing in on their ideal targets. Remember, there are a lot of ways that you can market your business without spending a lot of money!
Start-up costs are another issue that pops up as we embark upon our entrepreneurial journey. Many entrepreneurs tend to rack up credit card debt investing in different platforms, programs, leases, coaches, subscriptions, or supplies.
Seductive marketing messages can convince us that we absolutely need the latest workshop, incubator, or technology to run our business successfully, but often these offerings lead to unnecessary debt. It’s important to really weigh the benefits when making these kinds of decisions — and planning ahead is incredibly important.
In this episode, we’ll explore:
- How to figure out which start-up costs are necessary
- The most common emotional blocks when it comes to managing money
- Effective marketing techniques that don’t a lot of money
About Eowyn Levene
Eowyn Levene is a money coach at Plum Tree Money and the host of the Creatives Do Money podcast. She helps creatives, artists, and healers master their money . She is also the owner and sole practitioner at Living Link Massage Therapy, an independent studio.
- 00:42 Introducing Eowyn Levene
- 05:31 Financial literacy & self-employed creatives
- 09:12 It’s about more than just making more money
- 10:27 Money & emotions
- 11:16 Eowyn’s biggest client transformations
- 12:08 Money management problems scale
- 13:15 Common money mismanagement habits
- 14:47 Staying present while undergoing challenges
- 16:09 Eowyn’s biggest money lesson
- 18:34 The perils of start-up spending
- 21:00 Marketing without spend
- 22:43 Eowyn’s takeaway
The 5-Step Roadmap to Biz Finance Freedom
Work with me
Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.