Let's talk numbers! You do know that I love, love, love talking about your numbers.
Here’s some real talk for you. If you're going to investigate working with a business coach, ask them if they can tell you exactly what their numbers are. They should be able to just pull out a Google sheet or have an accounting program open and to see exactly what their revenue was, what their expenses were, and what their profit was. If you have a serious business coach, they should easily be able to give you that answer because you need to be in control of your numbers in order to make money, in order to love money, in order to trust money, and in order to actually calculate your crisis.
Do you know your numbers?
Now, here are a couple of questions that are part of my self-assessment tool on whether you actually know your numbers.
- Question #1: Do you have a grasp of all the expenses that you incur in your personal life every year? That means holiday budgets, Christmas gift budgets, birthday budgets, taxes, communal taxes, taxes for your garbage bin, car insurance, health insurance – it means all of these things which I have written down for you in the self-assessment tool. Do you actually know all of them? Have you ever taken the time to create a folder with all your paid bills to make sure that you haven't missed one, especially those bills that you only get once a year? Those are super important. You need to be able to calculate those into your budget.
- Question #2: Do you know which payments PayPal has automated for you or what your iTunes account has automated for you? Do you know all the software you're paying for at the moment? Do you have an idea of what memberships you’re part of that have yearly or monthly payment plans? All of those things are really, really, really important.
If you don't use the self-assessment tool, I'm going to give you a couple of pointers to make sure that you actually have an idea of these, because only if you have an idea of what all of those expenses are will you be able to know how much you have to make per month. Without that, there's no way you’ll ever be comfortable charging what you deserve and what you should as a legitimate business owner because you’ll just be flip-flopping around.
So, how well do you know your numbers?
It's totally useless to compare yourself to someone else, because depending on where they live, they may have fewer needs. They might live in an area where the living costs are way lower than yours. If I live somewhere in the sticks in Canada, my living costs are going to be super, super low versus if I live in a big city and I have to pay rent and it's crazy over there. You cannot compare yourself with the pricing of another person because you need to make a living.
So it's really important that, obviously, you sell something that's worth it, but it's also important that you make that living and that you base your pricing on that. So have a look at the self-assessment tool; you can download it HERE.
See if you can check all the boxes for my guidelines. If you can’t, then get in touch, because this is one of the pillars of the Impact with Integrity method that I teach my clients, and it's the one that makes the biggest impact. You can also check out my masterclasses where I cover numbers and package creation.