When I went viral, so many people told me I’d hit $20k+ a month easily.

But I didn’t…

So today I’m sharing a list of all my financial mistakes so you can avoid the same.

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Mistakes I made: year 1 of business

1. Not setting aside money for taxes

2. Not putting money in a high-interest savings account (you can open one for business) - I could’ve made hundreds by doing nothing

3. Not going harder on high ticket - focusing too much on free + cheap templates. I gave up after trying 1 model (service business, which I didn’t like) rather than keep exploring (group coaching)

4. Not delegating (wasted my time)

5. Not investing in myself (didn’t purchase courses or coaching that could’ve saved me so much time and money)

6. Getting distracted from my original plans (hiring the wrong ppl who just cold DM’d me - wasted my time too)

7. Partnering up with the wrong people (split the profit 50/50 and it was a good learning experience but he started messaging me really inappropriate things after 💀 I felt taken advantage of bc I had the bigger audience)

8. Not having correct systems in place for keeping finance documentation clean ($$$ spent on my accountant’s hourly rate, he had to chase down my bank statements across multiple accounts and invoices bc I accidentally used personal card for business purchases)

Summary: mainly things I didn’t do regarding money management and task/time management.

Key lesson: focus and learn from a mentor to save time and money in the long run.

Mistakes I made: year 2 of business

1. MINDSET and confidence - not being confident selling, thinking I can’t make money, wondering why people would pay for my knowledge, not being secure in my offer

2. Lack of focus = unclear offer = weaker positioning = less revenue

3. Underpricing (because people agreed to my rate too easily even after I added a few hundred to my original number)

4. Distraction and comparison - constantly changing direction with no clear progress because I kept getting “inspired” to try a new thing someone else was doing

Summary: mainly needing to focus on business principles.

Key lesson: mindset impacts your actions which directly impacts how much money you make.

What about you?

What would you add to the list? Anything new you learned?

Til next week,

Jennifer