Is it OK to be working really hard if you’re making lots of money?
Work Smart Not Hard Tip No. 18 in a series written for Indie Cambs
I got into a conversation with someone who said they were really, really busy and working very, very hard.
My first question was, “Are you making lots of money?”
If you’re working hard and making money that’s OK because there will come a point when you can use some of the money to hire help or invest in better processes so that you can keep making money without working too hard. There’s also a good case for putting your prices up and testing just how much people are prepared to pay you.
If you keep working hard you’re likely to suffer burnout after a while so what do you need to do to work smarter?
Working hard and NOT making money
If you’re working hard and making sales but not making enough money that’s a different story. It’s usually an indication that your pricing or your processes are wrong.
What do you need to do to improve your profits?
If you’re working hard and not making sales you probably need to stop and have a re-think.
Do people really want / need what you’re selling?
Can you sell it a price that makes a profit?
Do enough people know what you sell?
Are they choosing a different supplier instead of you?
What do your competitors offer that you don’t?
Are you getting enquiries / leads but not converting them to sales?
It’s important not to throw more money or effort at marketing until you figure out some of these answers.
If you’d like to work with me to get some answers and figure out how to make money without working too hard, just let me know.