How to navigate a low income month as an entrepreneur.
Business coaches and entrepreneurs are quick to share their five or six figure revenue months. Which are absolutely worth celebrating. But what happens when they have a low income month? This, in my opinion is more important. How we navigate the rough times.
I had my lowest month of sales in over six months back in 2021. Low months HAPPEN too. And it’s worth talking about.
I am not ashamed. Shame gets us nowhere in life or business. Free yourself from that unnecessary bondage. Reminders that came to mind when I saw less than usual funds rolling in:
“I chose this”
Cue not choosing the easy route.
There is this false tale that “working for yourself” and “entrepreneurship” is the “easy” route.
No. There is no promise. There’s no guaranteed security. There is no 401k.
“I chose this.”
Then we have the practical side of things:
BUSINESS: How do we change this? Why did it happen? What metrics can we lean on?
AND PERSONAL: I’m paid the same amount per month no matter what my biz brings in. Hello LLC S Corp. This is possible because there is money in the biz account and my monthly expenses outside of paying myself and my assistant are under $1000/mo (I posted the break down of this a while back).
Lastly – I followed the plan and did everything I was supposed to. The sales just didn’t close. That would be discouraging to others, maybe. But I take pride in that. Perhaps that makes me strange. For me, that means “I did my part.” Which is something to be celebrated. I know the lack of income was not due to a lack of effort on my part.
So, we move forward and try some approaches. But also it was ONE LOW INCOME MONTH. I’m not jumping ship on my approach just because of one month. That is business. That’s entrepreneurship. That is solving your own problems and remaining objective.
Because I chose this.
Let this be encouragement to any biz owners, coaches or want-to-be entrepreneurs. Always be seeking to bring up that “low income month” threshold. I celebrated in my wins, that this number was my “low month.”
Perspective. Keep at it. Tell em Annie sent ya.
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