Business Strategy

Six Money-Making Myths that Limit Your Business Income — And My Secret Fix

When you decided to follow your passion and start a business, you probably thought, along with helping people, you’d be making enough money to create a sustainable income. But for some reason, your bank account is sparse, you’re stressed about finances and you don’t know what to do.

Your financial issues aren’t from a lack of trying — as a business owner, you’re pouring your heart into your work and seeing little money in return.

Too many business owners undercharge and under-earn. They work harder than they ever have, but still struggle to achieve a consistent cash flow. If this sounds like you, you’re not alone. Here are six myths about making money as a small business owner and one solution to help your business succeed financially.

Myth #1: Most small business owners already know how to make money

Don’t you wish your business license came with a copy of “How To Make All The Money You Want Solely From Your Passion?”

Most small business owners don’t know how to earn a sustainable income, because most didn’t start their businesses just to rake in cash. They wanted to spend time doing what they love — anything from leadership coaching to photography to home organization — following their passion and helping people.

Unfortunately, our passions don’t always give us the necessary skills to make money. As a small business owner you excel at what you do. But you aren’t automatically equipped with the tools you need to stand out in your niche, find clients, market themselves, create and sell your products.

At the end of the day, you deserve to be paid for the value you provide. Your small business should let you do what you love and pay the bills. After all, you need to live too.

Myth #2: The harder you work, the more money you’ll make

Small business owners notoriously work long hours, choosing networking events over hangouts with friends and keeping the local coffee shop in business during late-night work sessions.

While running a small business takes effort, working harder doesn’t always equal making more money. Successful small business owners find scalable methods, like online challenges, online programs and group coaching to grow their businesses without doubling their hours. In fact, I believe small business owners should be able to work less than 40 hours a week. Making more money shouldn’t require you to increase your workload.

Myth #3: Most business owners charge appropriately

Eighty percent of business owners undercharge for services. They feel like they’re being undervalued by their clients, but they don’t have the confidence to ask for what they’re worth, or they’re uncertain of their value.

Successful small business owners know the monetary value of what they provide and aren’t afraid to ask for their full value. Even leveraged products like online programs can provide real income.

Myth #4: Big industry players use secret strategies not available to small business owners

There is no big secret. The exact same strategies I discuss in my $5K in 5 Days Challenge are used by top names in many industries to create million-dollar businesses.

During my challenge, you’ll learn exactly what those strategies are and how to implement them today. Many of these business owners started out just like you and have used these tactics to grow their businesses and make an even bigger impact on more people’s’ lives.

Myth #5: You need an email list to make more money

Building a large email list can help small business owners market consistently to people who want to hear the message. But you can start making more money fast, even without an email list.

Don’t let list building stand in the way of taking the next step. You can work on your list along the way.

Myth #6: Earning meaningful income takes months or even years

To build a million-dollar business like the pros, you’ll need more than a week. To find your next $5,000, you’ll just need a week.

With my $5K in 5 Days Challenge, you can make $5,000 dollars in less than a week. Then, you’ll be on the path to creating sustainable income to grow your business and create a livelihood.

You can start making more money in just five days

My $5K in 5 Days Challenge is a fast, powerful challenge to help you quickly bring in money. You don’t need an email list, lots of extra time or business know-how to get started. Instead, you’ll complete simple, actionable steps to grow your business and your income.

You’ll discover the big reason why you’re probably not making good money and what to do, instead. I’ll share the number one way I create extra income any day I want and how you can use this strategy to make more money quickly.

About the Author

ALINA VINCENT

Alina Vincent is a Business and Technology Strategist and founder of Business Success Edge, who helps entrepreneurs serious about big impact and profits shorten their path to success.

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