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Solopreneur Profit Guide Series, #2: How Saying No Invites Joy (and Profit) In

Welcome back to the second installment in our Profit Guide series, where we’re sharing the key steps solopreneurs should take before 2022 ends to increase your business profits by up to 10% without taking on new clients — or new stress.

Profits
October 3, 2022

Welcome back to the second installment in our Profit Guide series, where we’re sharing the key steps solopreneurs should take before 2022 ends to increase your business profits by up to 10% without taking on new clients — or new stress.

Missed the first post? Check it out here:

Solopreneur Power Move Series, #1: Reclaim Your Profits

Want the full checklist with all the steps? Get it below!

Letting go of what you don’t love can sound a little scary, but it’s actually the ultimate hack to helps solopreneurs like you invite joy (and profit!) into your life.

An excellent benefit to being a solopreneur is that you don’t have to keep exactly the same job description year after year. By assessing what’s working for you (and what isn’t) we’ll create the space for you to do more of your highest-paying work. It’s like giving yourself a promotion AND a raise.

Task #1: Figure out where your profit and joy are aligned

To make the most of your business efforts and increase your bottom line, you’ll want to offer services where the value you provide to the client outpaces the time and effort you need to put into the work. Considering where you get the most return on your energy can help you figure out where to refine. Try this method:

Grab a pen and paper or open a blank doc, and jot down your 5-10 biggest clients/projects of the year (or more if you had them and want to assess!)

Give each a score from 1-5 on the following three points:

  • Money (the project fee met or exceeded your expectations and was aligned with the value you delivered)
  • Work (the tasks involved were meaningful, enjoyable, and of mutual value)
  • People (working with the partner or client was positive and productive)

Your highest-scoring projects are the ones you want to try to replicate (and charge the most for!)

Task #2: Eliminate or outsource the rest

You ARE allowed to say no to future projects (even with previous clients) if the trifecta of money, work, and people doesn’t align for you.

You got into this business to let go of things that don’t bring you joy – don’t lose sight of that!

Streamlining your offerings and outsourcing tasks you don’t enjoy increases your profit by allowing you to charge more for your most valuable, targeted expertise (and giving you additional bandwidth to deliver on that promise!)

One final note: want to let something go, but can’t eliminate it from your offering or business model entirely (like, say, scheduling or sending cold emails)? Outsourcing is your new best friend. Use automations to outsource administrative tasks and hire contractors of your own to manage other essentials that aren’t sparking joy for you.

Marketing Manager
Isabel Sachs
Isabel Sachs is a Minneapolis-based freelance writer and content marketing consultant helping startups grow brand awareness via inspired content & the power of community.