I have known Sue off and on for a number of years and one thing I knew straight off was that she deserves to be making a great living in her business because she is studious and diligent and hard-working. She does all the right trainings, knows all the right people, and does all the techie things most of the rest of us cannot be bothered to do. She has become an expert. She is gifted. She is useful to know and her skillset is in increasing demand as her expertise has grown.
Quite rightly, Sue was a bit teed off she wasn’t making a great living at it, given what she knew and what she was making available to her clients, most of whom wanted to pick her brains either for free or as cheaply as possible, myself included. And I too was sick of Sue not earning what she was worth and her not charging enough because her moans and disappointments would end up in our Skype calls.
About a year ago it became obvious to us both that to iron out the lows and deeper lows in her finances Sue needed to create a spreadsheet where she could track everything. OK, it didn’t make very exciting reading to begin with, but it was the truth. It was a place we could both see how well – or badly – she was doing. She could create money goals and track her progress towards them and she could stop feeling quite so hard up as we could see how and when she was going to able to afford the things she wants – a new car, a new computer, overseas trips. And a place where we could see precisely what she was reinvesting in the business. Cold, hard facts. Sue’s nothing if not brave.
What a difference a year makes! This week Sue turned up proudly displaying her spreadsheet with a chunky profit on it which she had been able to report efficiently to her accountant in time for him to do her accounts. There are no secrets and no lies, it’s all there in plain view for us all to celebrate, me, Sue and her accountant.
Sue knows which of her products are selling well and the margin on all of them, and which of her joint ventures produce profit for her. For the first time she knows her own true value in her marketplace and how to charge what she’s worth. In fact she has just given herself a whopping pay rise in her hourly rate of more than 100%. She’s happy and excited about her profits and the sums reveal her best opportunities for the year ahead and how she’ll position herself with her 2014/15 clients.
Sue’s sexy spreadsheet has given her cause to celebrate her successes, it’s made her enthusiastic about her prospects. She’s got spreadsheet mania. Sue’s fallen in love with sums. Her figures inspire her onwards and upwards and this one document has removed all the fear she had around money and dramatically improved her sense of self-worth and pricing policies. That’s one hulluva result from a one page spreadsheet we can share whenever we like.
What you measure increases. And now that you know that, what will you choose to measure? What do you want more of? Stop hiding from the finances and show me YOUR sexy spreadsheet!