The Autonomous Creative How to handle your creative business finances—even if you’re “not a math person,” with Shawn Fink
Mar 2, 2023
In this engaging conversation, Shawn Fink, a Business Strategist and Courage Coach, breaks down the fears surrounding business math for creatives. She emphasizes the importance of knowing your 'enough' number for a sustainable business and offers five keys to courageously meet your goals. Together with host Jessica Abel, they explore budgeting strategies, the emotional journey of hitting sales targets, and leveraging your unique skills for higher income. Listeners learn practical tips for managing finances and embracing a service mindset to thrive creatively.
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Start With Your 'Enough' Number
- Figure out your 'enough' number by averaging monthly expenses and adding ~30% as cushion.
- Use that number to calculate how many units or sales you must make to meet your target.
Turn Income Goals Into Units To Sell
- Compute profit per unit then divide your monthly target by that profit to get units required.
- Translate monthly units into weekly and daily goals to assess feasibility.
Solve Volume Problems By Raising Value
- Raise your price or change your offer to make more profit per sale instead of chasing volume.
- Consider services, bundles, or higher-priced products to reduce required buyers and marketing scale.