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To Find Clarity and Focus, Do a Mid-Year Review Pt. II

This is part two of a two-part series on doing a mid-year review of your business! You can find part one here

So, now that you’ve reviewed your work so far and adapted your strategies and goals appropriately, it’s time for the next few steps. These are intended to really up the feeling of getting a fresh start, while enjoying your business for what it is: a way to meet your life goals.

Refresh

For an extra dash of clarity and focus, include a refresh in your review process! Now is the time to do whatever necessary maintenance you might need to grease the wheels of your business. You might clean your workspace, clear your inbox, or centralize your passwords. Attend to your physical and digital spaces. Check in with your finances, and schedule an appointment with a bookkeeper. 

This is usually my favorite part of the review process, because I make time to do all the little things that have been nagging me, like scheduling lower priority appointments, finding that one piece of paper, and sometimes making a new goal chart for myself. Giving yourself the time and space to get organized can save you time and effort down the road. It can also add ease to your everyday business functions – which is an added bonus!

Celebrate

Go back to step one, and take stock again of all you’ve done this year, including this review process. Chances are, you will find you’ve done quite a bit of work towards your goals, no matter how close you might be to completing them! Take some time to celebrate all the work you’ve done. Treat yourself to an afternoon off, a fun or inspiring event, or whatever you’d like to do to celebrate your achievements so far! Being a self-starting solopreneur is hard work. If you’ve done the work, you deserve to cheer yourself on once in a while.

If you busted through this whole review process, congratulations. I’d love to hear from you about how your business functions going forward, or if there are any little things you’ve added to the process. Just leave a comment below or shoot me an email at angela {at} atpeacewithmoney.com. If you think you could benefit from working through this process with an accountability partner, you know where to find me – just check in on my Services page.

Angela

Image Source: Emma Matthews

To Find Clarity and Focus, Do a Mid-Year Review

Goal motivational quote

We’re six months down the line. How are you doing with your goals? Have you totally crushed them, worked on them bit by bit, or are you not sure? In the thick of things, sometimes our focus on our goals can get a little murky. Here’s the first two steps of a two part series on doing a mid-year review. Let’s jump in:

Review

Step one in a mid-year review is the review, of course! When you take a look at the goals you’re working towards, it’s easy to get bogged down by focusing on what you still need to do. Instead, train your focus on what you’ve already done.

Start by making a list of milestones you’ve hit or steps you’ve completed. Rifle through your day planner or old to-do lists if you need a refresher. Go back through the year, month by month.

Now, it’s time for a little introspection. Take stock of all the actions you’ve taken towards your goals, and then ask yourself a few questions: How do I feel about this goal? Do I still want to achieve it by the end of the year? Is that feasible? At what pace have I been able to work toward this? What’s my capacity been like?

Don’t be afraid to drop things or add new things. Some goals may simply no longer excite you, or you may have realized that another achievement is more important or time sensitive.

During this review process, it’s also helpful to take a look at the systems and work routines you have in place for your business. For example, you may have set an intention to review your numbers once a week, or you may be trying out the Profit First system. Evaluate the effectiveness of your systems and routines. Are they working for you? Do you have time to do these things? Are you consistent? You may find that your routines need to be simplified or tweaked to be more pleasant. Or, you might find that your systems and routines are working just fine! Both are vital evidence when checking in on your business.

Learn and Adapt

Next, it’s time to use all of that evidence you’ve gathered to adapt your goals and practices. First, notice if you have any goals that you are either discarding or adding. Next, examine the pace at which you’ve worked on your goals. These pieces are important when it comes to planning out the rest of your year.

I recommend drawing or writing out a map for the next six months. Include any events relevant to your business, like conferences, trade shows, or gallery openings. Then, begin to write in milestones you hope to meet in the next six months. Make sure these are realistic! Don’t pressure yourself to level up in three months if it took you six to get where you are now. Instead, allow yourself the space and time to achieve things incrementally.

When you’re making your plan, be sure to adapt your goals to what’s worked so far this year. If you really love a certain routine or feel fired up to keep working toward a certain goal, go for it. If you’ve stalled on a project because you need to do more research, carve out some time to go back to the drawing board. When charting your course, keep your own needs and preferences in mind.

The next two steps will coming out in part two of the series, but I think this gives you enough to chew on for now! If you haven’t yet set goals for your business, or would like some more help thinking them through, check out my article Set Informed Income Goals. And of course, I am happy to walk through the goal setting process with you. All three of my service packages are focused on helping you set, work towards, and achieve goals. If you find you might appreciate some accountability or guidance, head on over to my Services page and schedule a curiosity call

Angela

Image Source:  S O C I A L . C U T

Staying Motivated as a Solopreneur

Staying Motivated as A Solopreneur: At Peace With Money

Of  all the barriers to being a successful solopreneur, one of the most challenging might just be this: yourself. Not you specifically, but your ability to find the time and motivation to take your solopreneur business seriously and do what needs to be done. Lots of people find that when it comes to managing themselves, they are not the best bosses. Without somebody looking over your shoulder to make sure you’re doing what you should be, it can be challenging to actually get things done! Here are a couple ideas and resources that can help you take the leap – and take your creative work seriously.

My Story

Working alone has been challenging for me throughout my solopreneurial journey. While running my jewelry business, I often dealt with feelings of pointlessness and like I was working without direction. However, I knew that I really benefited from accountability partners, so when I took on another employee to help me with jewelry making, the company and the fact that I needed to have work for her to do both kept me on track.

In general, I have always worked best with either deadlines or an accountability partner. My most successful exercise programs have involved meeting others for hiking or for a class. One year Etsy offered a boot camp program where we got paired up with a couple of other people and we met weekly via FaceTime from October through December to prepare for the Christmas holiday. We discussed strategies and set goals and then reported back during the following week. 

Another strategy I’ve been working on recently is time blocking, which reduces decision making. Just like with your money, when you make a plan ahead of time and reduce the need to decide in the moment, you usually make better decisions. So on Sunday evening or first thing Monday I plan out my general schedule for the week. Then I schedule the tasks I need to get done each day, and I schedule break time so I don’t burn out. I’m still working on this, but I find when I do it I end up having a day that I feel good about.

Experiment

I’ve found the things that work best for me and figured out how to structure them into my work and my business. Doing this for yourself can ultimately really aid your motivation! Try brainstorming practices that have either helped you get things done in the past, or that you’d like to try. Maybe bullet journaling used to work well for you, or maybe you’d like to find an accountability partner who also runs a small business. Perhaps you’re actually exhausted from all the other things you’re doing, and you’d get more done if you scheduled in some breaks! Play around with your ideas and find out what works. Once you’ve found your sweet spots, use them and get stuff done!

Resources

Staying Motivated as A Solopreneur: At Peace With MoneyIn my monthly newsletter (subscribe here!), I recommended some of Thomas Frank’s resources on motivation. I also want to recommend a couple resources centered around motivation and productivity. Earlier this month, I happened to listen to a great episode of the Copyblogger podcast, which featured author and cartoonist Jessica Abel talking specifically about productivity for people who make creative work. I highly recommend the episode and definitely want to check out her book, Growing Gills. She also has lots of free exercises on her website. Muchelle B’s videos on goal setting and weekly scheduling are also very helpful. She talks more in depth about using an accountability partner and time blocking.

I hope these ideas are helpful for you, and that you find the motivation you need. Speaking of an accountability partner, my coaching is designed to provide exactly that. If you’re intrigued, check out my Services page and schedule a call!

Angela

It’s Okay to Make Money

It's Okay To Make Money: At Peace With Money

If you get my newsletter, you’ll know that this month I’m focusing on breaking down some barriers that often prevent people from striking out on their solopreneurial adventures. I decided to tackle one of the most common stumbling blocks first; the belief that you don’t deserve to make money. There are many iterations of this belief. Maybe it’s not that you don’t deserve to make money doing what you want to do, but that it will be very challenging. Or maybe it’s that you need to do something more serious instead of following your creative pursuit. If any of these statements resonate with you, you probably have some limiting beliefs around how you can make money.

Not without reason, of course! Our society puts enormous emphasis on the corporate world, tech business, and STEM education. It’s no wonder that more creative pursuits and anything else that falls outside that realm is relegated to a list of jobs that won’t make you money. These messages get transmitted to us over and over starting in childhood – so of course our beliefs around how we can make money are biased.

Let’s go out on a limb and start imagining some ways you could make money from your passion. Get creative about the possibilities. What are some ideas you have? Once you open your mind, the ideas may start to flow freely. Making a list of all these ideas can get you going.

It's Okay to Make Money: At Peace With MoneyActioning and monetizing any of these ideas will take follow through, learning, and plenty of time and resources. My real point here is that there are many ways you can make money doing your creative pursuit. So it’s time for us to throw away the idea that you can’t/won’t/shouldn’t make money that way. I want to encourage you and give you permission to make money the way you want – whether it’s through your creative pursuits, or another idea that makes you want to strike out on your own.

Removing this barrier of belief is probably one of the most important things we can tackle, before we get into the nitty-gritty. For more on this subject, I recommend my articles “Artists Define Their Own Business Success” and “Artistry and Solopreneurship Can Coexist.”

And if you’re interested in getting into the details and figuring out how you can make the most out of the money you make, check out my Services page and schedule a call!

Angela

Image Source: Paweł Czerwiński

How to Set Informed Income Goals

How to Set Informed Income Goals: At Peace With Money

This article is the fourth in a month-long series on taking care of your finances as self-care. Specifically, I’m focusing on what you can do with your money to take care of yourself and improve your business in 2019. You can read the whole series by clicking here. 


One of my favorite sayings comes from the artist-turned-business mind Jennifer Armbrust: “A business is a needs-fulfillment machine.” Your business exists to support you; to fulfill your needs. However, if you don’t have a clear picture of what those needs are, it can be difficult for your business to fill them. This week, I’m suggesting that to really financially care for ourselves, we investigate the true costs of our lifestyles. By doing so, we will be able to make informed decisions about what income goals we’d like our businesses to meet. 

The Process

Time to take a realistic look at how much money you’re spending every month. Dig up the past three months of your bank and/or credit card statements. (For most of us, these should be available online). Go through line by line to see where your money is really going. Total up all the expense categories, i.e. groceries, utilities, rent, etc. 

Once you’ve got your totals, you have a realistic picture of how much money you need on a monthly basis. At this stage, you may find it helpful to look critically at your lifestyle, and see if there’s anything you’re interested in culling. If you’re looking for some ideas around creating a budget or spending plan, I’d recommend these articles of mine. Click here. 

Set Informed Goals

Whether you decide to create a spending plan and reign in your expenses, or feel satisfied with your lifestyle costs, you now have a complete picture of your financial needs. At this point, you can now set informed income goals that are designed to meet those needs in your personal life. Without this crucial information, your goals will just be shots in the dark, aimed at an amount of money that “sounds nice” but doesn’t tangibly satisfy a need.

Additionally, once your have this information, you can also take a look at how your business is doing in its current state. Is it making enough to support you? Whether you’ve got a side hustle or something you want to stretch into a full source of income, checking in with this question is important. If your answer is no, you can start to strategize around how you might close that gap. For more ideas on this, check out this post.

I hope this post inspires you to keep working to create a business that truly meets your needs. If you’d like to work with an accountability partner or need coaching around this, please check out my service packages and don’t be afraid to schedule a curiosity call!

Angela

Image Sources:  rawpixelMelissa Askew

Three Steps to Financial Clarity

3 Steps to Financial Clarity: At Peace With Money

As the holidays set in and the mad rush of preparation begins to slow, you might find yourself with a little time to reflect on your year. Why not take the opportunity to reflect on your finances? Your money, much like all the other pieces of your life, deserves your attention, thought, and critical eye. This exercise is meant to lead you to financial clarity. By completing it, you’ll gain a better understanding of what you want from your money, and how to get there.

Step 1: Define Your Destination

What’s your destination with your money? What are you planning to do with it? Is there something you’re saving up for? You might have vague plans, a well-defined roadmap, or nothing at all. This is the step where you can dream and imagine that destination. If you already have one in mind, check in and make sure it’s where you want to go. Make sure you investigate any current money goals you might have to make sure they really align with your desires. If you don’t have any goals, think of some you might like to adopt!

Step 2: Drop Your Pin

Pinpoint your current location. In other words, figure out where you are now financially.  It’s time to get clear and honest about what you have, what you owe and where your money is going each month. Use this step as an opportunity to total up your expenses and debts and track your recent income. Leave no bill unturned! If you want further instructions on this step, I recommend checking out my article on creating a spending plan, specifically the section on analyzing your expenses. 

Step 3: Plan Your Journey

3 Steps to Financial Clarity: At Peace With MoneyNow that you know where you are and where you’re going, it’s time to figure out how you’ll get there. This is the step where strategy comes in. Based on all the information you’ve already looked at during Step 2, you should be able to determine what will help you get to your destination. Whether that’s saving more money, paying yourself first, cutting out certain expenses, increasing your income, or a whole host of other ideas, identify your moves and decide when you’re going to make them. 

This process may take you a little while to complete, but it will ultimately bring you to a place of much greater clarity when it comes to your finances. This exercise can be applied to personal finances but it can also be applied to your business finances. I hope this season of reflection serves you well.

If you need any assistance looking through your finances, I’m happy to help you reach a place of clarity. Schedule a call with me!

Angela