If you start a creative business and it’s built upon a faulty foundation, you may find yourself exhausted from continuously having to repair a crumbling base. Is there a solution aside from closing the doors and selling everything just to recoup your loss? “It is possible to build a business that will give you the life you want, without sucking the life out of you,” says Mary Ann Hauser, owner of ActionCoach in Winston-Salem. She will be our speaker for the next Swerve meetup on Thursday, October 20 from 11:30 a.m. – 1 p.m. at Flywheel, located at 525 Vine Street, Winston-Salem. This program is free for Swerve members and $20 for non-members. Lunch is included – registration required. Here’s a sneak peek at what will be discussed.
How do you create a business that will generate revenue yet allow time to accomplish your desires in life? Here are a few tips from Mary Ann Hauser.
Have a clear direction and a destination
“Every business needs to have a clear direction and a destination. What’s the vision and the mission for your company? What is your value proposition? Where are you headed? If your goal is just to pay the bills, well, that’s what you’ll get. If your goal is to become the top selling art gallery in the Southeast, you need to build your foundation and have a plan in place to help you achieve your goal. Having a 90 day, 1 year and 5 year plan will also help.”
Be stingy with your time
“Most people give away time freely, because they think it’s the polite thing to do. But time is most valuable because you can never get time back. Spend your time determining what is most important to your business and what is most important with family. Make those goals your priority, then figure out, what tasks for your business you can delegate. You may find that hiring someone for $10 an hour can lead to $100 an hour in profit.”
Achieve financial mastery
“How often are you looking at your profit and loss statement, and balance sheet? How do you build value to ensure every year the value of your business is growing? Know your financials and evaluate your next steps to ensure they are in-line with generating more revenue.”
Consult with a business coach
A business coach will help you develop long-term and short term goals and strategies, as well as improve your business in areas that you might have overlooked. A coach will also hold your feet to the fire and make you accountable every step of the way. It’s like having a trainer at the gym. You can probably get in shape on your own, but your chances of achieving your goals is more likely to happen if you have an expert providing guidance along the way.
To learn more about Mary Ann Hauser, visit http://www.actioncoach.com/maryannhauser. To learn more about the Center for Creative Economy’s Swerve program, or to become a member, visit us at www.swervetriad.com.