Three Ways to Maximize Your Profits

POV: you’re a creative entrepreneur who loves what you do but you didn’t fully consider the business side of your business when you started out. 

That’s where we come in. You don’t have to figure it out all on your own. So we want to talk about profit today because passion matters - but so does profit. The truth is, you’re not running a business just to make money - but to make a profit. They’re not the same and you need to be sure you’re taking the right steps to maximize profits as a creative entrepreneur.

Here are three profit-driven steps you can take now:

1. Make Data-Driven Decisions

Understanding and paying attention to your numbers gives you clear answers to make smart decisions. Make a weekly date with your numbers and if you’re a HarQuin client, join the free monthly Reports Trainings to help you understand your numbers even more.

2. Implement a Scalable Business Model

Start thinking bigger. Think about marketing strategies, operations, sales, hiring or contracting a team, and outsourcing more to free you up to do what you do best. Remember this isn’t a hobby. You are building a legacy. We are here for it!

3. Create New Revenue Streams

Now you’re thinking bigger, but it’s time to start thinking outside the box. You have to start thinking about what other offers, resources, programs, or products will serve your people. Diversify your income with things like subscription boxes, DIY resources, new products, pop ups, referral programs, there are so many opportunities for growth! Don’t put all your eggs in one basket.

The best thing you could do for your business is get a financial team in place. Through hiring a good bookkeeper, a CPA and business consultant - you will know your business on a deeper level, won’t have to second-guess yourself, no longer be afraid of paying taxes, and feel confident that your business finances are supporting your personal life, too. The first step is getting a free bookkeeping estimate here.