Episode 66: Reaching Budget Nerdvana & Raising Prices with Mark Butler
Too many wedding professionals rock the creative side of their business but neglect their finances. That leads to feeling like you’re working really hard for not much money and that’s exhausting and defeating. Today’s guest is an expert in helping entrepreneurs manage their money and I think he will convince you that you need to raise your prices.
Mark Butler is the founder of Budget Nerd. Mark provides bookkeeping services to entrepreneurs like you, but unlike many bookkeepers, he also acts as their Chief Financial Officer, helping them to understand their financial position and to steer them on track.
In this episode we’ll cover:
- How so many business owners neglect to pay themselves the way they should.
- Why you can’t earn your way out of any problem and how Mark learned that the hard way.
- The importance of making sure your investments are actual investments that will generate a return for you.
- What it means to purchase revenue.
- What to look for when buying a course.
- How to know what you can afford to spend on hiring an assistant.
- Why you’re overwhelmed and too busy (it’s not what you think).
- How raising your prices can make your life and business a lot easier.
- The arrogance of underpricing.
- Just how far off your first instinct on your prices really is.
- How to use pricing to attract more of the right clients.
- How to manage your money in a seasonal business so you aren’t rich one month and poor the next.
- The 3 kinds of money in your business.
- The dangers of fuzzy money.
- How to reduce financial stress with a cash reserve.
Link & Resources mentioned in this episode:
Crossing The Chasm
The Lean Startup
You Need A Budget (YNAB)
How to make financial decisions based on what’s Actual, Pending, and Possible
6 Tools That Will Save You 5+ Hours Per Week In Your Wedding Business
More from Mark:
Website: www.budgetnerd.me
Twitter: @markobutler
Facebook: www.facebook.com/mark.butler.52438174
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Always love your podcasts!
Thanks Julie!
Finance stuff can be so scary. Great info! 🙂
It totally can but when you take it by the reins it can be so empowering!
So much great information, thanks!
Thank you Lydia! Was there anything in particular you took away?
By far one of my most favourite episodes !
Thank you! It was one of my favorite episodes to record. I think money and pricing should be talked about a LOT more than they are.
I’m in the money business as a CFO/Accountant and WHEW! Total GEMMMMMMMMMMS in his podcast. 🙂
I’m so happy you got so much out of it!