At this point in the new year, more than 25% of Americans have already given up on our New Year's resolutions -that is, if we even made them in the first place. By the end of the month, that number climbs to nearly 35% of Americans (more resolution-related stats here).
Some folks (and businesses) are just getting started. I'm still seeing people offering courses on setting up your budget and/or income plan for 2015... that don't start until February!
I hate to break it to you, but you can't get a "jump start" on 2015 if the year is already rolling along!
One of the common problems I see for entrepreneurs stems from income or revenue planning. In fact, if your business is new (less than 5 years old, or making a market transition in the past 2 years), it's not always easy to predict where the money's going to come from in your business.
For many entrepreneurs, the first couple of years feel like throwing spaghetti on the wall to see what will stick. You make offers, do some research, hone your product or service, make more offers, and see who bites. You keep what sells, and table the rest. Sometimes you resurrect that stuff, and sometimes it's gone forever. In my own business, I've had a resurgence of interest in products that I wasn't actively promoting. I had essentially tabled these offerings, so I didn't include them in my revenue planning for this year.
Big mistake. If you've got an offering available, it should always be included in your revenue plan - even if you don't sell many of them during the year.
That got me to thinking about other mistakes I've seen when it comes to planning out your income, so I figured I'd conjure a post to help save you from making the same mistakes in your business.
Your budget and your income plan are not the same thing. Because a lot of creative types feel hemmed in by the word "budget" it's become common for coaches and trainers to use a different word (abundance plan, income plan, spending plan, etc.). A budget tells you how you project you'll spend/invest the money you earn. The income plan tells you how you project you'll earn the money in the first place.
I remember one of my early years in business, I created a budget with roughly $50,000 in line item expenses. I had no income plan. Sure enough, about two months into the year, I was pulling my hair out because the income wasn't keeping up with the expenses. I had no idea HOW I was going to earn the money, I had just put down the income of my dreams with no real plan of attack on how to make that income happen. In short order, I quickly reduced my "budget" to align with the realities of the income of my business.
Budgets are often wishful thinking. Income planning is where the rubber meets the road. If you can't figure out how to earn the income, you shouldn't be creating a budget to spend money you don't have.
A direct sales client of mine was struggling to get ahead of the curve in her business. She had come to me with an income plan that included very tight margins and little "wiggle room" in case something happened.
Of course, something happened, and her husband was unable to work for an extended period of time. She was panicking about how to make ends meet. After she took a breath, we looked at where she could leverage her existing offers, find better clients and increase her average ticket sale. Then, I illustrated the need to plan for more than just "the minimums" because there's always something for which you can't possibly plan.
Rates go up and "life happens" - yet time and again I see entrepreneurs build a budget and project income based on that budget, without any realistic expectations around the "what if" scenarios of business. What if your current supplier dries up? What if your web host goes out of business or raises their rates in order to stay in business? Most companies give you a 30-day lead time on rate increases, which means you could get hit at the worst possible time of the year if you're not prepared.
One of my previous clients relied heavily each year on the income from one particular offering. Last year, they found themselves scrambling for most of the year to make up for the lost income when they had fewer enrollments than they budgeted for. It wasn't really "lost" income, though, because they never had it to lose! They had put too much reliance on a single source of income. It came back to bite them when they didn't have a plan in place to generate more income with some of their other offerings.
If this is your first year in business, then it makes sense to focus on one thing, get really good at it, and sell the heck out of it. But once you've been working with clients, listening to customers (you are listening to them, right?), and doing your research, you'll see other offers that you can provide to some if not all of your market. Facebook started as a connecting point for college grads (of particular schools), and only after they got good at that did they expand. Now, they've got Instagram, partnered with Google for advertising, and have their fingers in a bunch of pies. That doesn't mean you have to offer auto parts and jewelry (like Murrays Discount Auto Stores used to). If you're seeing an opening to serve your clients (and you are looking, right?), then it's more than likely you'll have more than one source of income over the years.
What if what you're doing today becomes illegal tomorrow? How can you shift and remain profitable?
This year's VAT regulations for international buyers created a firestorm of resistance, but it still went through. And international vendors of digital goods have to deal with the fallout - at a price. If all your eggs are in one basket and that basket is locked down, you're not in business anymore. On the other hand, if you've got more than one source of income, you'll stand a better chance of weathering the storm (I'm moving my "digital only" products to a platform that handles the VAT for me so I don't have to deal with it).
Technically, this could be construed as a budget item, but the reality is that I see a lot of entrepreneurs planning to make all kinds of money, without any kind of support behind it - whether that's a coach, learning a new skill set, or some other type of professional development. Your budget needs to include these items and so does your income plan. As you scale, costs change. You may hire a VA to handle things that you used to do yourself. If you're planning on earning more than six figured, you can pretty much guarantee that you'll need some kind of support. Your income plan needs to cover the costs of that support. Don't assume that you'll be able to cover it with the growth of the business, because, as I've already said "life happens" and you may find yourself in need before the cash-flow comes in to support it. Which brings me to mistake #5.
I can't tell you how many entrepreneurs I've talked to that tell me they made "six figures" in the last year - only to find out the company may have taken in six figures, but they didn't pay themselves a salary.
Say what?
That means that not only did YOU not make six figures, but the company probably didn't either! There's a difference between income and profit. And no, your salary is not profit. If you're not paying yourself, then you're lying to yourself about the actual profitability (and viability) of your business.
You can bet that Donald Trump, Warren Buffett, and Oprah don't work for free. They have large businesses and each draw a salary that's part of the company expenses. Profit is money that's not allocated to covering expenses. Most businesses erroneously think profit is what's left over after covering expenses. I'll show you why that's wrong in a minute. Regardless, you need to be sure that your income plan is built to cover a salary and savings for emergencies.
Financial guru Dave Ramsey reminds us that it's not a question of if, but when emergencies will happen. The printer dies, the laptop gets dropped, the external hard drive crashes... and those are just the minor emergencies. If your income plan (and yes, budget) doesn't include a line-item for savings, you'll find yourself scrambling. What if your tax bill's higher than you budgeted? That's where savings can be a blessing.
Regardless of what you sell - or how much of it gets sold - it's imperative that you have a profit plan. If you sell even 20 cents worth of products or services this year, you need a plan in place to ensure that your company derives a profit.
Okay, twenty cents might be a little ridiculous, but maybe not.
Mike Michalowicz, author of "Profit First" says that profit needs to be a habit - not an event - in your business. Instead of making profit an afterthought (profit = income - expenses, like most businesses expect), Mike says pay your business first and set aside a portion of your income so that you always have profit in the business. I recently led a webcast to explain the Profit First approach and help you get a handle on making sure your business is always profitable.
Whether or not you come to the webinar, it's important to see profit with fresh eyes. You don't have to build your business on the "leftovers" - which, if you're anything like most entrepreneurs I know, there aren't many leftovers to begin with. Instead, you can make an intentional step toward building a solid profit plan - and income plan (and budget) - that's built realistically around what you need to accomplish in the next 12 months (and beyond).
I'd love to hear what mistakes you've made in your budgeting/income planning process. What did you learn and how did you recover? Let's learn from one another in the comments!
It's not an easy song for a woman to sing. It wasn't written for a woman to sing. Until we started the studio rearrange, I wasn't sure I'd ever attempt to sing "Piano Man" - since my low range isn't very strong, and I couldn't boost the signal enough for it to be understandable.
But it's certainly a song I enjoy - and one that became the signature piece for the sixth Gershwin Prize winner, Billy Joel.
The Gershwin Prize is the equivalent of a lifetime achievement award from the Library of Congress - as it "celebrates the work of an artist whose career reflects lifetime achievement in promoting song as a vehicle of musical expression and cultural understanding."
As I watched Kevin Spacey and crew honor Joel with their tribute cover of his song, it dawned on me that the world doesn't need another Billy Joel. The world needs YOU - and you can sing Billy's song, but like Kevin and the gang, you've got to sing it your way. And some people won't like it, or even understand it (Leann Rimes? What?), but you've got to do it your way for your audience to embrace you.
The other thing that caught my attention is that the best way to pay homage to your heroes is to do things your way. No one on that stage tried to sing it like Billy. Even Billy did his own thing in the moment ("It's a pretty good crowd here in Washington.") - and Kevin Spacey learned how to play harmonica just for the event - even if hitting the high notes wasn't as easy as he'd liked. He, and all the others, did it their way.
The world needs YOU to shine bright and sing your song - YOUR way. (tweet this)
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As I hear clients, colleagues, and friends sharing their goals for 2015, there's a chorus being repeated over and over:
"This year is the year I FINALLY break __ figures!"
I've heard it so many times that it makes me dizzy and sad to think about the number of folks who continue to miss the mark on this particular goal each year. When I ask why they haven't hit their goal yet, I hear lots of "reasons" - but ultimately, those reasons all mask the truth of why they really haven't hit their big income goal - whatever it is.
First a warning: "Big income goal" is relative. Like dream shame, the fact that you have a goal means it's big. For you, it might be 10 figures, or 6, or 5, or being able to finally quit the day job. The number doesn't matter. The principles are the same regardless of the number of zeroes at the end of the figure.
Why is it that most entrepreneurs that dream of making "mucho dinero" don't hit their big income goal? Here are a few reasons I've encountered (both on my own journey, as well as with my clients): (more…)
Tomorrow, I turn 40 (Bradley Cooper and I are the exact same age, thankyouverymuch!). This clip was taken from November's show, where I realized it was over 20 years ago that I wrote this song. As Billy Joel gets the Gershwin Prize for his song, "Piano Man", this week, I wondered what it is that makes some songs so timeless. And I wondered if I'd ever have a song that had that kind of effect. Then, I realized that I'd already written a song that I still sing even 2 decades later. It might not be a Billy Joel-caliber tune, but it's mine, and I love telling the story behind it.
My drama teacher, Mr. Jennings, gave me an opportunity to write and record this song for a play he was doing by the same name. He was known for being quite creative with the productions he mounted. He wasn't afraid to set Shakespeare in the 1950's, and was known for his color-blind casting policy, which sometimes got him into trouble. At the opening of this show, he wanted to have tableaus that looked like scrapbook photos that would come to life. It was a great opportunity to do something I loved in a meaningful way - completely outside the curriculum of the classroom.
Mr. Jennings was one of the first people to give me a platform for my music. He was willing to take a chance. The world needs people like that. The world needs people willing to share an unknown voice or an idea with a larger audience. I'm grateful he was one of those people for me. As I look back nearly 20 years, it's a thank you that's been a long-time coming.
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This week I successfully completed all my planning for January! Woo hoo! I know many entrepreneurs who are still shuffling papers and won't solidify their plans until sometime in the middle of the month - after they've given up on more than half their New Year's resolutions. I've been that person, and over the last couple of years, I've finally managed to hammer out a process for planning that works for me.
That's part of the struggle if you're a creative entrepreneur. There's no one plan that seems to cover everything. If you're a personality-based business owner, it's even harder. You've got to include your personal plans with your business plans, because they tend to overlap. Short of my own Dreamblazing program, I've yet to see a planning system that does that well, if at all.
Yes, finding a groove and getting the planning process down is a hurdle, but once you've got that process down, there are still a few mistakes I consistently see entrepreneurs make when planning their new year. I've even done them myself! Here are five of the big ones:
In my Dreamblazing program, I talk about "pumpkin" goals and "radish" goals. Pumpkins take all year to mature, while radishes only take 20-40 day. Having all your harvest come in at the end of the year makes it difficult to manage - and you can starve the rest of the year. Radish-sized goals give you some bite-sized results that you can manage throughout the year. Those radish goals can be milestones toward your bigger pumpkin goals, too.
Just be sure you don't have (more…)
It's one of my all-time favorite Christmas tunes. Maybe it's because my middle name has "Mary" in it - or maybe it's because I've always wondered what it would be like to try to parent Jesus. What kind of special issues would Mary have to deal with? Could she possibly have any clue how the legend of her child would change the face of the world? I hope you and yours have had a blessed holiday season. I'll be doing a bunch of studio moving over the next week, and then it's MY BIRTHDAY, so there may or may not be any new videos next week... it all depends on whether or not we get the studio set up complete.
Fingers crossed!
But after the studio
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"Brave" was the theme for 2012 and in 2013, I chose to "Inspire".
This year was about "Divine Alignment" - and there was a lot of re-alignment happening.
Every year for half a decade now, I've intentionally chosen a "theme" and a "theme song" to set the tone for my year - both personally and professionally. As a personality-based brand, it's important to choose something that reflects both pieces of the puzzle. So much of what I do overlaps, connects, and is even interwoven throughout my life and work. It makes sense, then, to craft something that has meaning in both arenas.
Here's a summary look at my 5 Key Areas for 2014:
For me, faith is where my core beliefs and values intersect. The values in focus this year were freedom, space, contribution, creation, and joy. That meant doing more of what I love and reaching more of my right people. Trips to Atlanta, Minnesota, New York, Vegas, and Arizona had me re-connecting with bunches of people that mean the world to me - and connecting with a few new friends as well. Talk about JOY! And I've got a car again, so there's some more space and freedom opening up for me. I did a LOT of connecting this year, including more work with Des (and the incomparable Damn Whippersnappers) - and TWO online shows.
I was also pleased to be able to work with my friend and coach Teresa Romain in her year-long program. The folks in that group are always so inspiring, and I'm lucky to now count many of them as friends. My Faith cup runneth over this year, to be sure.
"It's my life. It's now or never. I ain't gonna live forever." - It's My Life
My oldest not only managed to turn 18 this year, but fell in love and moved out. As a mom, there's still a bunch of emotional baggage I carry about that, but as a coach, I recognize that I can't live his life for him, and he's a much happier, better adjusted, more responsible guy now. So in that respect, Mom's happy. He's actually working to get his GED so that he'll graduate ahead of the other kids in his class. Go figure! After years of struggle, it's so nice to see him happy, healthy-ish, and living a life he's proud of.
The rest of the family is drawing closer. Hubby and I are staring down the barrel of our 10th anniversary this year, and we've managed to carve out a bit more time for one another. Our current pastime is "Netflix at Night" - where we carve out an hour or two to cuddle on the couch and watch a series from beginning to end. This year we checked off "Burn Notice" and we're swapping through "Psych", "Criminal Minds", and "Royal Pains" as we speak. We're both a little bummed that "Psych" is kaput. That's some funny stuff for any child of the 80's.
As I say in my book, "sometimes friends are as family". My extended family this year includes two amazing groups of women: my mastermind, and a spiritual group that evolved from Amy Oscar's Soul Caller retreat last year. They've always been an encouraging, uplifting, and often enlightening bunch of ladies. My Mastermind had their first get-away weekend, a book-signing event in Traverse City for Jill, and a jaunt around the lake in Ortonville on Pam's family boat. Our retreat group had a reunion gathering this year that was simply amazing.
It's always a blessing to watch these ladies soar to new heights, and I expect that 2015 will be even bigger for them.
I'm making slow, yet steady progress on the 100 pound weight loss goal I set for myself at the beginning of the year. I'm about 75% dairy-free now and closer to 95% gluten-free. The challenge comes when I am not home, and don't have a back-up plan - like when I'm mid-flight and ravenous, or when someone brings brownies home the night before grocery day when the cupboard is getting bare. It's forced me to be more proactive about my meals, which is rarely a bad thing. I'm at my lowest weight all year as I roll into the holidays (pray for me).
I've still got a few pounds to go before I hit 20 for the year, and I'm being compassionate with myself. I'm not giving myself carte blanche, though. I'm still doing what I can to be mindful. See all those cookies? The Aunts in my family have an annual tradition: Cookie Day. We made 11 different varieties of cookies. I had a few, but I shipped most of them to my son or my sister in California. Hee hee.
On the mental/emotional side of the Fitness coin, I did a lot of self-education this year. Aside from the work I did with Teresa, I jumped into several online courses, books, and training programs. I also got designated as a Certified Profit First Professional Business Coach (ooh! Fancy!). After being one of the editors for Mike Michalowicz's book by the same name, I recognized that implementing the Profit First approach meant that my business would be guaranteed a profit at the end of the year (it worked!). I was also able to work with a few clients in this approach, one of whom went from losing $10-12,000 each month to turning a $2-5,000 profit during our time together. Sha-zam! If you're interested in getting your own profit analysis, let me know. It's the first time in my life where I've said "I LOVE RUNNING THE NUMBERS!"
As I mentioned, my business turned a profit this year. Not only that, but I took quarterly profit sharing distributions - a first for my business. In the past, I didn't really feel my profitability - it was more on paper than anything else. This year, it felt empowering to cut myself a profit check at the end of each quarter. I'm really looking forward to next week's check - which should be the biggest of the year.
The shift was almost entirely due to the Profit First approach. It meant scaling back on a few things I didn't want to admit were not serving me. It forced me to be ruthlessly honest with myself about what was working in my business, and what wasn't. Gone were the "big" clients were playing "Moneyball" with my Great Work. I hired a kick-ass VA, updated the website, and got clear on my target market (not necessarily in that order).
I created content - lots of it. There are nearly 100 tunes in the 300 Songs project - many with videos now. My YouTube channel had over 50,000 new views this year, and now sports almost 250 subscribers, which is on pace with my goal for the year. Woo hoo! I also launched my new Dreamblazing program - a strategic planning system for personality-based business owners to meld their personal and professional goals.
"Tomorrow's getting harder make no mistake. Luck ain't even lucky. Got to make your own breaks." - It's My Life
I spoke at a National Conference in Arizona (and had a ball!), taught a workshop in Minnesota, and got to perform in a variety of ways - including work for one of Detroit's biggest rap superstars (no, I did not rap, btw).
But the coolest thing that happened was seeing The Secret Watch hit multiple Amazon best-seller lists in the UK and here in the states. An experiment as part of my annual give-back campaign, it was a thrill to see my name "in lights" next to Tony Robbins and other business luminaries. What was even cooler was seeing all the 5-star reviews. Heartwarming at this time of year.
I got me a car, yo! I traveled a bit during the first half of the year, but I was still relying on others to get around. By the end of the year, I got my own set of wheels, and I am mobile, baby! When I made the commitment to pay cash for my ride, and NOT have a car payment, I thought it would only take a few months. It took YEARS, but here we are, and it was SO worth the wait.
On Father's Day, me and the fam took a trip to Cleveland so I could audition for The Voice. I learned a LOT about myself on that trip. I was in the audition room with a backup singer who was taking a break from a tour with a big name artist. He forgot his words and tripped over his introduction. I nailed my audition. Neither one of us got a call back, which just goes to show you that it's not about talent as much as it is about casting. So much for "blind" auditions.
"I ain't gonna be just a face in the crowd. You're gonna hear my voice when I shout it out loud." - It's My Life
Since this was a value in focus this year, there was a lot of getting myself aligned around the sense of freedom. I did a LOT more of what I enjoy, met some pretty amazing people, and had one of the best years of my life. And I turn 40 in a few days, so that's saying something!
I've put in a lot of effort over the last few years, tried on a lot of hats, and sorted through a lot of stuff that didn't end up working for me.
The time for all that is over. I've finally merged my love of music and performing with my love of business strategy in a way that works for me. It's taken years of doubt, trial, tears, and effort. This is the year of The Singing Business Coach, yo! Watch me work! 🙂
Creating your own niche isn't easy. There are definitely easier roads. I could just perform, or I could just coach, but neither would be fulfilling. It's like asking me to choose if I'm white or black: I'm bi-racial. I'm both. Deal with it.
So I've got to focus in, and stick to it, no matter what. I'm going in, guns blazing, determined to see what can happen for me in 2015.
Bon Jovi may have released it in 2000, but the lyrics really connected with me this year. I was especially struck by the Frank Sinatra reference: "Like Frankie said, 'I did it my way'." The idea of doing things my way has always come with a lot of baggage, and I'm ready for that to be different now.
I've had to "force" a lot of things to happen over the years. And doing things "my way" often meant doing things the hard way. Pushing to meet a goal or a deadline. Putting my financial or personal health at risk in order to achieve something.
Blech.
Now I understand DUMB goals, and how my way doesn't have to be "push, push, PUSH" all the time. I lived it this year. I like it. And I'm ready for more.
"This is for the ones who stood their ground... who never backed down." - It's My Life
December is always a whirlwind for me. Holiday shows, the annual Give-back campaign, and my oldest son's birthday. This year, he turned 18! Now that my eldest is officially an adult, we can focus on "the other" holidays this month: Christmas and New Year's Eve!
This is one of my favorite Christmas songs. I was lucky enough to be able to share it at a Christmas sing-along for a local church last week. I've got a couple more songs from that event I'll be sharing this week, but the jingle bell hat was super timely for the Sunday before Christmas. Just a few days left, and we're STILL shopping.
Do you have the holidays handled yet? What are YOU hoping to get for Christmas this year?
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I think it was Jesus that said a prophet has no honor in his own home town, with his own family, or even in his own house.
It's one of the big reasons I first built my business online - away from the prying eyes and judgmental insinuations of my own family and friends.
Don't get me wrong, on the whole I've managed to remove myself from the toxic relationships of my younger days, but there are still a few lingering reminders that only serve to affirm the wisdom of Jesus.
I've been a musician and performing artist for decades. I'm glad to be able to offer my services for a lot of different kinds of events. A family member once asked me to perform for a public event she was facilitating. She needed a strong singer to lead the music for the event. Naturally, I accepted. She's family, and it was for a worthy cause.
And of course, I didn't ask to be compensated, because it was a charity event, I had close ties to the organization, and I wanted the opportunity to perform, share my gifts, and serve on a larger scale.
That was all well and good until I realized I had "served" my way out of my own value.
The day of the event arrived, and as I was rehearsing with the other musicians, she came over and paid the pianist an undisclosed sum for his services. I didn't even get a thank-you card.
It was then that the words of Jesus rang in my head. More and more, I'm hearing stories from clients about doing "spec" work, or free work just for the exposure, only to discover there really isn't a real exposure opportunity. Or they're taking crappy-paying work because, hey, at least it pays something.
I'm here to tell you that you're crippling your business - and possibly your health and well-being. If you're saying yes to anything that comes along, you're not giving yourself room to do the work you really enjoy. Then, when the "good stuff" comes up, you're already booked! Let my example be your shortcut to sanity and more profitability. Here are three ways you can get more of the right people to value your work.
On one level, I was livid that my family member didn't see the value of the work I contributed to the event. I had to learn dozens of songs, rehearse them, and then perform them without errors - just like the other musicians. I also emceed the event, introduced the music, and was the "personality" for the event. Those are also elements of a performance that must be practiced. For as easy as it looks, I don't just show up and "wing it" for an audience. Even my improvisational work at murder mystery dinners comes from years of practice.
She didn't see enough value in my work to even give me any token of appreciation.
That's partly her fault, and partly mine. Had I done my job in the first place, and educated her about the value of my work, chances are good she would have at least given me a thank-you card or some small sign of appreciation.
If you leave it to chance, and just trust that people will recognize the value of who you are and what you do, you'll often be disappointed. It's one reason why I've heard so many people say "the marketing is more important than the mastery." That's not true, of course, because you don't want to be marketing crap, but at the same time, if you're not marketing at all, you're leaving money on the table and missing out on opportunities that could otherwise be coming your way.
And by "marketing" I mean educating your market about the value of who you are and what you do. Until they understand why you are good at your craft, until they understand why your prices are what they are, it's easy for them to price-shop - or worse, ask you to work for free.
I talk with a lot of entrepreneurs who understand the value of their offering - the work they do, the product or service the provide - but they don't value themselves enough to be paid. Hollywood writer Harlan Ellison and creative firm owner Mike Monteiro both speak out about the importance of not taking YOURSELF for granted in the business of doing business (warning: both videos have adult language). Plumbers and doctors can assert a value in the market for their services because of the results they provide. "I'll fix your pipes, and it'll cost you X." There's a clear outcome. But when we start looking at what we think are more nebulous or intangible "results" we discount the value that we bring to the table.
In truth, YOU are the reason that the offer has value in the first place. I say it a LOT - as a personality-based business, you are the most important product that your company has to offer. When I work with direct sellers, it's important they grasp this concept. They are one in perhaps a million other people selling the exact same product for the exact same price out of the exact same catalog. What makes their business the one to choose? People choose to work with a particular direct seller because of who they are, not what they offer.
If you don't value the contribution that you make, why should anyone else?
My grandfather was a carpenter. He once charged a guy $50 to hang a picture in his office. He walked in, tapped on the wall, then drove a nail with two deft strokes. He hung the frame and handed the guy the bill. Outraged, the guy wanted to know why he charged $50 to drive a nail. My grandfather took back the invoice, scribbled something on it and returned it to him. It now read:
Driving one nail: $10
Knowing where to drive that nail: $40
Total due: $50
I make singing look easy because of the thousands of hours in my life I've already spent learning music, performing, and honing my craft. I've got hundreds of youtube videos of me speaking or performing in some way. That's all "free" work I've been doing for years. Lots of practice!
Where have you invested in your life in ways that improve your craft? Value that investment. (Tweet this)
Sometimes, you can educate people until you (and they) are blue in the face, but if you're singing show tunes in a honky tonk, you're going to get booed off the stage no matter how good you are.
When you're first starting out in business, it's a seductive trap to take whatever business comes along - anyone who can fog up a mirror or anyone who pays, regardless of whether or not they're a good fit for you. Ultimately, it means you don't have a business, but rather that you're a whore willing to dish it out to anyone willing to pay you. Sorry to be so blunt, but it's true. Although, my friend and colleague, Sydney Barrows, would probably argue with me. She's the former madam that ran Cache' - a high-end "escort service" back in the 80's. She had a very clear idea of her target audience, and didn't waver. If a client was a jerk, they were fired. Her clients were A-list-ers and her "girls" were expected to provide a quality experience - with a price tag to match.
If it works for the escort business, it most certainly can work for you.
You're wasting your time if you're trying to justify your existence to everyone - friends and family included. I had to back away from people who didn't get me, people who didn't understand what I was all about. I had to find "my people". I've been in various mastermind-type groups over the years, and a year and a half ago I came to roost with a group of local women - all authors - who are some of my strongest supporters and encouragers. They understand me. They help me get some clarity. They even hold me accountable when I ask. I've got other supporters, too. People who see the real me (and love me anyway), like my coaches and colleagues (like Sydney). You'll notice I didn't include my spouse. I love my hubby, and I learned many moons ago that he doesn't get what I do. He's starting to understand a little, but we've been married for almost 10 years now. I had to stop holding my breath, and only share with him the stuff that he understands. The rest, I save for "my peeps."
Whether you're a direct seller, a shop clerk, or a performing artist, you've got to know who you're here to serve. Again, it makes no sense to sing show tunes in a honky tonk - even if they had an opening and it's great exposure. Sometimes you get lucky and the audience knows clearly what it wants - like a local barbecue joint that only plays blues music. Blues and barbecue go together easily. But most of the time, it's up to you to hone in on who you're here to serve.
As a business coach, I focus on growing businesses - specifically those where the business owner is the face of the company. That means I work with a lot of direct sellers, solo-preneurs, authors, speakers, and performing artists. It's a wide variety of people, yet they all share the commonality of being the face of their business. Why? Because I am a personality-based business owner. I am "the singing business coach" - a musician and performing artist who helps other people like me grow a profitable, sustainable business. I understand the particular issues these folks have in balancing personal and professional commitments. We don't have traditional "work hours" because our face is always "on". There are unique concerns that these businesses face that major corporations don't. I understand that intimately because it's the life I've lived for decades now.
That is my professional audience. What's yours? Who do you most resonate with? Who are the people you get the best results with or most enjoy working with? What do they have in common? Those are the threads that help you define your professional audience. Once you've defined it, speak directly to them. Stop trying to win everyone else over. A lot of people won't get you. That's okay. Focus on serving the ones who do.
Once you value the role you play in the work you do, and can educate your right people about that value, it's easier to command the prices (and respect) that you deserve.
How have you experienced this feeling of not being valued for the work you do? How did you handle it? Please share your comments below!
Judy Garland is one of my all-time faves. I don't sing a lot of her music, but two songs I love are The Man That Got Away and this song - both songs debuted by Judy in one of her films. This song is from" Meet Me in St. Louis" and has had a few lyric changes since the original was written by Hugh Martin and Ralph Blane. Regardless, it's a timeless holiday song, and all you could ask for any year - to have a Merry Christmas.
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