79: Using Your Passion For Boosting Profits Whether You Are Starting A Business


79: Using Your Passion For Boosting Profits Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Mompreneur, Business Owner, Side Hustler, Freelancer, Bookkeeper, Virtual Assistant, Or VA


Using your passion for boosting profits in your business is key to your happiness and success, but you need to know how to propel your passion into your business. Focusing on what excites you and putting that energy to work for you to create a profitable business takes work, but when you have passion behind your every move, you are able to push through even the biggest challenges in your business. In today’s podcast episode, I am talking about how to make your passion profitable by discussing how you can find your passion as well as your purpose, validate your ideas, create a plan to do the work, and then turn it into a profitable business. You need to prioritize it, and it doesn’t matter if you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA. We’ll go from a possibility to reality without letting fear hold you back. If you’re ready to believe you can take your passion and create a profitable and successful business, let’s dive in. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


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Show Notes:


Using your passion for boosting profits in your business is key to your happiness and success, but you need to know how to propel your passion into your business. Focusing on what excites you and putting that energy to work for you to create a profitable business takes work, but when you have passion behind your every move, you are able to push through even the biggest challenges in your business. In today’s podcast episode, I am talking about how to make your passion profitable by discussing how you can find your passion as well as your purpose, validate your ideas, create a plan to do the work, and then turn it into a profitable business. You need to prioritize it, and it doesn’t matter if you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA. We’ll go from a possibility to reality without letting fear hold you back. If you’re ready to believe you can take your passion and create a profitable and successful business, let’s dive in. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


Welcome Back…Did you know that there were nearly 5.4 million applications to file new businesses in 2021? Did you catch that? I said million with an M. These business owners are following their dreams and starting their businesses. One of the best ways to start a business is to follow your passion and use that passion to create a profitable business, but before you can use your passion to boost your profits, you need to know what your passion is. If you’ve done your homework in the past and you already know what you are passionate about, that’s great! If you are unsure, I want you to focus on what excites you in life, what feels good in your heart, and what you tend to talk about or want to learn more about. What could you teach others about that comes naturally to you? How can you use this excitement to make an impact? These are the things you are passionate about. You’ve probably heard the quote from Confucius that goes: Choose a job you love, and you will never have to work a day in your life. I agree with this as well when I say, Dream Big, Follow Your Heart, and Love What You Do. By following these simple steps, you will find you can use your passion to boost the profitability of your business as well.


Once you know your passion, think about what you would like to see your passion turn into for your business. I want you to think about how you can use this passion as your purpose. Can your passion fulfill something that others need or want? You’ll need to test this out by putting your offer out in the world. If you are not ready to charge for your services yet, is there a way that you can try to offer it for free for a short time? Whether you have a free offer or you are comfortable with charging for it, you need to see if there is an interest from others. You’ll ultimately need to find out if someone would be willing to pay for the product or services you offer in your passionate business. Tell everyone about your passion and where you and your business are going in the future. This will build confidence and begin the growth of your business. When you start to obtain clients or customers, you will genuinely start to see how you can use your passion to make an impact on others. This is why so many new businesses start out as a side hustle. You can continue with your regular job to provide the security you need until you know you have validated your side hustle and are ready to go full time with it; your job can be extremely beneficial. When you find it’s the right time to quit your job, you want to ensure that you have adequate savings built up to help back up any slower months or a slow growth period. If, on the other hand, you find that your passion won’t be scalable or able to make enough money for you to quit your day job, you want to take some time to decide if you still want to pursue it as a side hustle to fulfill your passion or be realistic about any pivots you can make to generate the profits you need. If neither of these options works for you, you’ll need to decide if you want to continue following your passion as a hobby. Business owners are in business to make money and be profitable. I am sure this is where you want to be as well.


You need to believe that you can take your passion and your purpose and create a profitable and successful business right now without waiting until it just happens. Successful businesses don’t just happen; you have to work hard to reach your success. There are also quite a few business owners who let fear hold them back. Don’t let this be you. Don’t let the fear of failure, the fear of rejection, or even the fear of success hold you back. Yes, you did hear that right; I did say the fear of success. There are instances where business owners will hold themselves back because they fear success. They may be fearful of the reaction of their friends and family, or they may sabotage themselves or fear they won’t be able to maintain their success. Lean into your fear and move out of your comfort zone to reach the success you can see in your future.


I want you to find out where your strengths are in your business and understand where you know you are going to need help. For example, I know many business owners who do amazing work with their passion but keeping track of their finances or doing their own bookkeeping is not their best strength. Know where you are going to need help in the future and embrace those needs so that you can focus on your strengths. Make sure that you have the skills and education you need to carry out your passion. You will also want to know your value and how much your time is worth. We all have the same number of hours in a day, and once today is over, we’ll never get that time back. Think about what your time is worth, and make sure you are utilizing your time in the highest capacity.


Don’t let procrastination and perfectionism limit your dream of following your passion. Procrastination and thinking you’ll do the work tomorrow may never happen. You are going to want to make your tomorrow today to ensure you are getting your projects done. Perfectionism can also delay your success if you wait for everything to be perfect. When you decide to go with what you currently have prepared, you’ll learn along the way and build confidence. Don’t waste precious time until everything is perfect or procrastinate when you can start now and build momentum in your business.


When your business hits a roadblock, use this as a learning tool and not a reason to stop believing in your dreams. Find alternative ways for dealing with these roadblocks to make you and your business stronger and able to move forward. Remember your why and why you wanted to start your business in the first place. Make sure your passion continues to light you up and allow the enjoyment even though there may be tough times. You will need the passion you have for helping people or making an impact as a motivator to pull you through challenging times and to help you do the work in your business that’s overwhelming, stressful, or not always fun. Your passion will fuel your success. Look at what you’ve accomplished already. Can you see if your passion led to your biggest successes?


If you have been in business for a while and are looking for additional ways to increase your profits, take some time to schedule brainstorming sessions. This is where you can create ideas and additional ways to use your passion to further impact others and your bottom line. Use these sessions to develop ideas about how you can increase the sales you are making on your existing customers as well.


Finding your passion and turning it into a purpose that will make an impact on others who are willing to pay for your product or services will bring your dream business to a reality. Take your passion and follow this process to create your own profitable business. Having someone to hold you accountable, help when your motivation is low, and bring perspective to your ideas, is vital to your success. If you find yourself struggling and need help boosting profit in your business, I’m here to help. As a Certified Public Accountant, Business Strategist, and Business Coach, I help business owners like you reach your next level of success and grow your business. I work with business owners who need help seeing the potential in their business, deciding which tasks they need to do next, and ensuring they are taking action to achieve the possibilities in their business. They have a clear path to accomplish their goals, their achievement rate is much higher, and I hold them accountable. I’m inviting you to schedule a free consultation session where we can go over any questions you have regarding your passion and business strategies. You can go to www.FinancialAdventure.com/Contact-Us and schedule a time that works well for you. During your consultation session, we’ll also dig deep into where you currently are in your business and where you’d like to see yourself and your business in the future. We’ll also go over my MASTER Your Business Foundation Diagnostic Assessment so that you can fully understand your strengths in the foundation your business is built on. I am looking forward to talking with you soon. I’ll post links to these and other valuable resources for business owners and bookkeepers where you are listening to this podcast and in the show notes.

Alright, to recap this episode.


And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.

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