Coaching Session with Lain #8: The Ups and Downs of an Entrepreneur?

A slightly manic writer, speaker, and deep thinker – Lain Ehmann

“The ups and downs of an entrepreneur?”

You’ll be VERY glad to know that we’ve made progress on the beta front! After letting go, things started to move. Not fast, but a bit.

AND? despite starting out May slowly, I ended up invoicing for $23,000, which was my biggest month yet!

Lots of good stuff to review, including revenue, hiring, and some wins on the business admin front. And we talk real and raw about the highs and lows of the entrepreneurial life (it’s not all Pina Coladas and hammock-swinging!).

Synopsis

Jaime has me do a recap of the previous five months income-wise so we can take a look at my annual goal and see what I need to do to make that $250,000 happen.

We also take a look at what I need to do workload-wise to increase my income. (After all, there are only so many hours in the day, and right now I’m working way too many of them!)

We discuss working “in the business” vs. “on the business,” and I’m going to need a list of responsible, talented contractors who can help out on some of the tasks and projects that I myself don’t want to (or have to) do.

Another big discussion is that we decide it’s time to increase my minimum level of engagement again. It’s been around $1,500 or so, but I’d like to bump it to at least $2,000 – of course, by providing more value!

Topics Covered

• Letting go to move forward (not my strong suit, but I’m trying!)
• Recap of January through May, including income numbers
• What I need to do on the hiring front
• How to add value for my clients so I can raise my average monthly billing per client

Action Items

• 5 sales calls
• Send Jaime my Toggl report
• Reach out to my network re: an executive assistant

In Reflection

I loved reading back over the transcript from this call. It reminded me of how fun it was to revisit the wins of the month after struggling so much for April. So much happens from call to call! It totally is like a soap opera, except I’m living it.

And it’s those ups and downs that make it so fun. I never really know what to expect from one day to the next. It’s always something new, which I love. And I love having Jaime to rely on and celebrate with throughout it all!

Lain Series

Part1 – Coaching Session With Lain: Goals And Confidence Levels
Part2 – Coaching Session With Lain: Packages And Pricing
Part3 – Coaching Session With Lain: Selling Like A Pro
Part4 – Coaching Session With Lain: Her Biggest Month EVER
Part5 – Coaching Session with Lain: On-boarding a Team Member
Part6 – Coaching Session With Lain:The Vital Importance Of Beta Testing
Part7 – Coaching Session With Lain:What My Resistant To Beta Calls REALLY Means

Tags: eventual millionaire, hiring, how to hire employees, jaime masters, Lain Ehmann, revenue

Categories: Business, Entrepreneurship, Finances, Goal Setting, Goals, Hiring/HR

Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.

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