526: 5 Ways to Bring More Money Into Your Business (Part 3 of 3) (Mindset & Self-Care)

In episode 531, Octavia Conner teaches us strategies to increase profits, including how to determine the overall financial health of our business, identify financial leaks and avoid overpaying on tax. Octavia Conner stands as an esteemed financial and tax strategist, celebrated best-selling author of two books, accomplished speaker, and the visionary proprietor of not one but three successful enterprises: Say Yes To Profits, Her CEO Space, and Octavia’s Helping Hands Inc. With notable mentions in Forbes and prominent features in Essence, Fox Five News, Portia TV, Fox Soul, ENSPIRE Magazine, Voyage ATL, Authority Magazine, Intuit, and numerous other esteemed platforms, Octavia’s unwavering mission is to eradicate small business failure and create wealthy entrepreneurs. Recognized as one of the top 50 accountants in North America for two consecutive years, Octavia boasts a remarkable history of guiding more than 90% of her clients to achieve remarkable growth ranging from 30% to a staggering 350% within just 12 months, all while saving over 55% in business taxes. Octavia Conner isn’t merely a financial and tax strategist; with over 20 years of accounting and finance experience, she is the go-to Chief Financial Officer (CFO) for entrepreneurs or small business owners seeking to streamline their finances and pave the way for generational wealth through their business’s success. In this episode, you’ll learn about having a solid financial foundation, accurate bookkeeping, pricing your services or products for profit, and proactive cash flow management in order to maximize profits. Key points discussed (and action items!): - Pricing Strategies for Small Businesses: Review your pricing strategy and ensure your products and services are priced for a profit margin of around 30% (including hidden costs). - Identify and Address Financial Pitfalls: Business owners should conduct a "profit audit" to identify unnecessary expenses and "profit leaks" in their business. - Are You Overpaying on Tax? Implement a tax strategy at the beginning of the year and check progress regularly to take advantage of deductions and reduce taxes (examples given in episode). - Bookkeeping is Crucial to Make Informed Decisions: Maintain good bookkeeping practices and use an accounting system to track finances and identify expenses for tax deductions - How Much Should You Have Saved? Save a portion of each payment received, such as 20-30%, in a separate "financial peace" or savings account and do not dip into it for other expenses. - Be Prepared for Emergencies: Project business cash flow and revenues several weeks in advance to prepare for periods where cash may be low. - Financial Planning and Profitability for Entrepreneurs: Keeping a track record of your finances and understanding where you can save or cut down on costs will help you become more profitable. Octavia Conner's Free Financial Toolkit Connect with Octavia Conner Website | Instagram

In episode 530, Megan chats to Brenda Cadman about how to use Canva efficiently to organize and optimize content creation for food bloggers. Brenda Cadman is a Canva Verified Expert from Prince Edward Island, Canada. After spending more than two decades supporting businesses with their website development needs, she now focuses on teaching small business owners how to use Canva more effectively and efficiently. Brenda has taught thousands of business owners through her courses, and in particular, she loves to help business owners tame their hot mess Canva accounts by creating an organizational system that ensures they can spend less time in Canva, and more time doing what they love. In this episode, you’ll learn about how to use features effectively, like the brand kit and magic tools, and how to organize your Canva account using folders to save time and boost productivity. Key points discussed (and action items!): - Declutter Your Canva Account: Create an "Archive" folder and move all old Canva designs and images into it to declutter the account. - Images in Canva: Organize images by moving them from the "Uploads" folder into custom categorized folders like "Images", "Pizza" etc. using the bulk select and move features. - Differentiate Important Files: Star templates, elements, icons and photos in Canva that are used frequently by clicking the three dot menu to access them easily from the starred folder. - Streamline Branding: Use the Canva "Brand Kits" feature to organize company branding assets like logos, colors and fonts for quick access. - Save Time Using Canva: Canva Pro’s features can help save you time and repurpose content easily, using  tools like resizing, mock-ups, background remover and other AI-powered tools. - Don’t Postpone Decluttering: Set up a regular schedule (e.g. Fridays) for a VA or assistant to maintain the Canva organization system. - Don’t Overcomplicate it: Make most of the time you have, progress over perfection. Resources Canva Organization Roadmap - help organizing your Canva account Listen to Episode 502 on 5 Ways to Declutter Your Life. Connect with Brenda Cadman Website | Instagram

In this episode, Megan talks about the importance of social connections for well-being and business success, sharing five steps to nurture healthy relationships and turn your network into a strong support system. How will inviting more people into your life change anything? Will it not be overwhelming and give you more to do? That is why Megan explains, firstly, the benefits for personal growth and business success by inviting high-quality people into your life. Secondly, she share five steps that will help you manage new connections, making them a meaningful part of your life and potentially opening up new business opportunities. Action Plan: - Send an invitation to the universe / God for more high-quality people in your life. - Prepare your calendar or routine to make room and time for new connections. - Express gratitude daily for the people already in your life. - Host something new, even if small, to take action on your invitation. - Show up as the best version of yourself when interacting with others. Resources mentioned Food Blogger Services – Mika Kinney Explore Megan’s recommended books and resources at eatblogtalk.com/books. Promote your food blogging services: www.eatblogtalk.com/audioclip Get in touch with Megan if there is a specific mindset and self-care topic you'd like her to cover. Website | Instagram

In episode 528, Cheryl Norris teaches us the importance of our core belief system and how we to replace negative beliefs with positive affirmations. Cheryl Norris is a food blogger in Portland, OR where she lives with her husband. Her blog, Bakes by Brown Sugar, in business since 2018, specializes in desserts with a focus on using seasonal and quality ingredients. In addition to running her food blog business, she works full-time as an engineer. She loves to travel, with Paris being her favorite place to visit. In this episode, you’ll learn about the pervasive nature of negative self-talk and its consequences on self-perception, decision-making, and success, highlighting the importance of recognizing and managing these emotions to achieve personal growth. Key points discussed (and action items!): - Identify and Address Your Pain Points: Be aware of what you're thinking and saying about yourself and what you struggle with most. - Journal to Increase Awareness: Journal your thoughts so that you know exactly what you say to yourself with regard to situations. - What is the Source of Your Self-doubt: Discover the source of thoughts - why are you feeling a certain way about situations? - Negative Self-Talk Impacts Your Success: Change negative self-talk to positive affirmations - only through awareness and determination can you shift your mindset. - Recognize and Overcome Negative Self-Talk: Note words used about self in times of difficulty like workouts to identify patterns of self-talk. - Affirmations, Self-belief, and Confidence: Be conscious of what you affirm about yourself every day - do you need to change your self-talk? - Recognize and Overcome limiting beliefs: "Break up" with limiting beliefs by deciding to break up with them, replacing them with empowering beliefs, and saying empowering affirmations daily in writing until internalized. Connect with Cheryl Norris Website | Instagram

In episode 527, Megan chats to Candice Ward about the importance of having multiple income streams and how to pitch brands in an effective and time efficient way. Candice is the Founder of Eat More Cake Dessert Blog, Food Photographer, Educator, and Sales Expert. Candice spent over a decade in corporate sales and translated that experience to help other food content creators monetize and scale their businesses. She has coached hundreds of food content creators in her business course, The Confident Pitch Program. She is passionate about helping other food bloggers reach their full potential! In this episode, you’ll learn about different ways to diversify your revenue streams, including freelancing, affiliate work and coaching, but most importantly how to tap into sponsored work by pitching brands using Candice’s time efficient, strategic pitching method (i.e. the Strategic Pitching Approach). Key points discussed: - Diversify Your Revenue Streams to Reduce Business Risk: Diversifying income sources helps mitigate risk and prevents burnout by ensuring you're not solely reliant on one stream of revenue. - Is Direct Pitching to Brands Effective? Sending targeted pitch emails and following up persistently can yield better results than relying solely on social media for brand collaborations. - Practical Ways to Add Additional Revenue Streams: Explore various avenues such as freelance work, sponsored content, coaching, and digital product creation to diversify your income streams and maximize earning potential. - The SPA (Strategic Pitching Approach) method for targeted and effective brand pitching: Use the Strategic Pitching Approach, focusing on personalized pitch emails and consistent follow-up, to increase the success rate of brand collaborations and revenue generation. - Tailor Pitch Emails to Emphasize the Value Proposition to the Brand: Customize pitch emails to highlight how your content creation can directly benefit the brand's goals, this will increase the likelihood of engagement and collaboration. - Focus on Quality Over Quantity to Maximize Conversion Rates: Prioritizing targeted and personalized pitches to a select number of brands increases the chances of successful collaborations and optimizes time and effort spent on pitching. - The Confident Pitch Program: Candice’s comprehensive marketing plan designed to simplify the brand pitching process for influencers and content creators, offering modules on business planning, pitching formulas, negotiation strategies, and post-sales processes. Connect with Candice Ward Website | Instagram Resources Coaching Services Pitch to Profit Workshop Freebie: List of 10 brands with contacts to pitch Freebie:  6 Strategies to Stand out to Brands

Megan dives into the final part of her series on how to bring more money into your business, focusing on improving your financial mindset through positive language and preparing the way for financial abundance. What is the source of your income? Can the way you perceive this change your financial situation? And do you generally speak positively or negatively about money? Addressing these questions, Megan suggest various ways in which we can further shift our mindset when it comes to money in order to increase our revenue. Including, these key points: - Shift Your Perception of Income Sources: The true source of income lies beyond people and businesses, emphasizing a universal force as the primary source of abundance. - Release Mental Pressure on Income Channels: By reframing the source of income from external entities to a limitless universal force, you open yourself to alternative channels for financial flow, reducing pressure on specific revenue streams. - Align Actions with Serving and Value Creation: Remember to deliver value from a place of love - genuine service and value provision are foundational to sustainable financial success. - Conscious Money Talk: Conduct regular audits of your thoughts and words surrounding money. Replace limiting beliefs and negative phrases like "I can't afford it" with empowering statements that align with abundance and prosperity. -Prepare for Abundance: Create space for financial abundance like clearing mental and physical clutter to welcome new opportunities. Ensure your financial infrastructure and personal readiness align with your goals for increased prosperity. Promote your food blogging services Megan's recommended books Get in touch with Megan if there is a specific mindset and self-care topic you'd like her to cover. Website | Instagram

In episode 525, Nicole Winegardner teaches us the importance of staying true to who we are in a world full of distractions and focus on what lights us up. Nicole blogs with her bestie Andrea, who lives in Washington and you’ll find Nicole in Virginia. Together they have a food blog where they specialize in simple delicious recipes for busy families. Nicole is the one to do the recipe development and food photography and keyword research. Andrea takes care of the writing and Pinterest, web stories, social media and is currently learning video editing. Their blog was founded in 2021. In this episode, you’ll learn how to overcome blogging challenges like spreading yourself too thin, struggling to achieve your goals and feeling bogged down by your responsibilities. Key points discussed: - Focus: Evaluate where your focus lies regularly. Redirecting your focus can guide you towards positive outcomes and away from distractions. - Stay True to Yourself: Authenticity fuels success. It's crucial to reassess your goals and ensure they align with your true desires. - Effective Goal-Setting: Set achievable goals without overwhelming yourself. Habit stack and regularly evaluate your to do list to maintain balance and prevent burnout. - Regularly Revisit Goals: Rather than setting and forgetting goals, consistently evaluate them to ensure they are still relevant to your priorities. - Focus on One Thing at a Time: If you spread yourself too thin, you risk not achieving anything. Delegate tasks and focus on mastering selected skills. - Prioritize Fun: There is a correlation between enjoyment and productivity. Incorporate moments of joy and relaxation into your daily routines to enhance overall well-being and effectiveness. - Rest is Important: Don’t be scared to take a break when needed as your blog will always be there when you return and you’ll be more productive. Connect with Nicole Winegardner Website | Instagram

In episode 524, Megan talks to Lauren Woodger about why mindset is such an important element of building a successful business and 8 mindset hacks we can implement today. Lauren began "The Scatty Mum" in 2019 as a hobby blog to share allergy-friendly recipes when her daughter was diagnosed with multiple food allergies. In 2022, she took a leap and left her day job to focus on her blog full-time. Even though her daughter has outgrown her allergies, Lauren still understands the struggle of preparing meals for everyone. She's passionate about creating easy, allergy-friendly recipes that the entire family can enjoy. Lauren lives in Surrey in the UK, with her husband and two children. In this episode, you’ll learn about how to cultivate a positive mindset as a blogger and entrepreneur, including prioritizing networking, becoming a more productive entrepreneur and celebrating your progress every day. Key points discussed: - Connecting with other bloggers: Build connections within the blogging community through social media, Facebook groups, and networking events to combat feelings of isolation and provide valuable insights and encouragement. - Celebrating progress: Track and celebrate your achievements, no matter how small. It is crucial for maintaining motivation and perspective on your blogging journey. - Invest in productivity courses: Transform your approach to work and time management by learning strategies such as backward planning and focus work sessions. - Limit comparison: Avoid the trap of comparing your progress to others’. It is essential for maintaining a positive mindset. - Concentrate on one main goal at a time: By focusing on a single primary goal, you can channel your energy and resources effectively. - Implement a timed daily schedule: Planning your day ahead can help you maintain focus and structure throughout the day. - Combat shiny object syndrome: Prioritize ‘focus work’ in the morning and allocating time for administrative tasks later in the day. - Take breaks when you need to: Don’t forget to do things that promote well-being, such as going for walks and listening to podcasts. Connect with Lauren Woodger Website | Instagram

Are your thoughts about money generally positive or negative? Megan discusses the topic of money as energy as well as wealthy habits that will help increase our revenue. This is Part 2 of 3 about 5 ways to help us bring more money into our business. Our thoughts and beliefs influence our financial situation. Megan emphasizes this by exploring the importance of tracking and appreciating every penny earned and encouraging us to adopt wealthy habits and qualities, suggesting that creating a welcoming environment for money can lead to increased financial prosperity. She covers the following key points: - Money as Energy: Thoughts, beliefs, and actions influence the flow of wealth in your life. - Track and Appreciate Every Penny: Track every penny earned or found, and express gratitude for all forms of income, no matter how small. - Adopt Wealthy Habits and Qualities: What are the habits and qualities of wealthy individuals? Emulate these traits to attract abundance into your life. - Create a Welcoming Environment for Money: Assess whether you are fostering an environment conducive to attracting wealth, or inadvertently repelling it. Get in touch with Megan if there is a specific mindset and self-care topic you'd like her to cover. Website | Instagram Resources Money as Energy: The Dynamic Flow of Wealth in the Cosmos by Kulwant Saluja (article referenced in episode)  

In episode 522, Elizabeth Emery teaches us how to create a sustainable income from blogging, finding joy and balance in our work without risking burnout. Elizabeth is a plant-based food blogger and recipe developer based in Vancouver BC. Her passion is showing people how fun and accessible vegan and plant-based eating can be. Elizabeth created and has run Vancouver with Love for 5 years and have turned it into a full-time income during that time. In this episode, you’ll learn about why you should find income streams that you are passionate about, why you should pick freelance work carefully, as well tips to work less hours for more money. Key points discussed: - Find Joy in Work: Find joy and passion in your blogging work to sustain long-term success. What aspect of blogging brings you most fulfilment? - Set Boundaries: Set clear boundaries to avoid burnout and work intentionally to condense work into four days a week, allowing for adequate rest and personal time. - Diversify Revenue: Diversifying revenue streams in blogging helps you tap into the potential of ad revenue and incorporate it alongside freelance work and sponsored content. - Consistency and Intentionality: You have to be not only consistent but also intentional with you blogging efforts - where do you want to be in the long run? - Invest in a Business Coach: If you feel stuck or burnt out, reach out to a business coach to seek support and guidance from someone with experience. - You’re not Alone: Having a business coach or other support will help you navigate the challenges of entrepreneurship and decision-making. - Recognize When You Need to Change: Acknowledge when adjustments in your work are necessary for personal and professional growth. - Balance Work and Personal Life: To sustain long-term success, use strategies for setting a healthy work-life balance including prioritizing self-care, and finding joy outside of work. Connect with Elizabeth Emery Website | Instagram