Spy Mistakes With Money

I had two meetings recently with enterprising members of the #SpyTribe growing their own businesses. Greetings Everyday Spy, I had two meetings recently with enterprising members of the #SpyTribe growing their own businesses. If you’ve spent time with me in person, then you know my kryptonite is talking about business! As an advisor and consultant to Fortune 100 companies, I charge corporations $400-$600/hour to brainstorm and ideate new systems, processes and products. But when a bleary-eyed entrepreneur invites me to talk about his or her start-up over a cup of coffee, I can’t help but get excited and say ‘yes!’... at no charge. In the powerful way that business works, I was struck by one important mistake both entrepreneurs were making that I absolutely had to share with you. You may not know this, but all of my business success is owed to three people; a friend/mentor who continues to actively coach me in growing EverydaySpy, a marketing consultant who immediately saw my value and connected me with elite business circles, and myself. I include myself on the list not because of my vision or skill, but because it took my own grit, resilience, and risk-taking to take action on the guidance the other two people gave me. The biggest mistake entrepreneurs make is confusing value and money -- a similar mistake new spies make early in their training. When you start your own business, you are putting your livelihood (and the livelihood of your family!) on the line to build something you believe in. That is a brave and honorable pursuit - very much akin to the oath new intel recruits make to put service before self at all costs. It is common for entrepreneurs to underprice their time, talent, and innovation - leaving them financially strapped and mentally burnt. I know this mistake well because I’ve been there myself! The difference was that I had two wise, experienced business people to highlight it to me when it happened. It's an easy mistake to make when you consider your transition from ‘consumer’ to ‘producer.’ The typical employee is given money by their employer in exchange for hours of that employee’s time. What those hours are spent doing determines the price per hour, but it is rare that any employee will earn full pay for working less than the promised hours. The employee then takes their earned money and spends it. This is the life of a ‘consumer,’ someone consuming goods and services instead of creating them. When an entrepreneur decides to start their own business, all they’ve ever known is the life of a ‘consumer.’ And consumers are inundated with offers for discounts, specials, and sales - which creates a logical fallacy that low prices mean more sales, and more sales means more money. Simple math defeats this common fallacy, even though thousands of entrepreneurs make it every day: - If 10 customers buy a discounted product for $25, the business owner makes $250 - If 3 customer buy the full-price product for $100, the business owner makes $300 Which option do you think the business owner should choose - sell to 10, or sell to 3? Your talent is unique because it is yours - and you are in business because ‘consumers’ cannot achieve what they want without you, their ‘producer.’ Your responsibility is first and foremost to make money and succeed in business! If you go under because of cash-flow, stress, or poor money management, you do a disservice to yourself, your family, and the thousands of customers who need your talents. As soon as you sell your product/service at a given price, take it as proof that your customers are willing to pay more. Why? Because nobody buys something they see as ‘equal’ value - they only buy what they view to be a ‘good deal,’ or something they consider to be greater value than the price they are paying. The more you increase your price, the fewer sales you will make - but you will earn more money and build better relationships with fewer buyers. The stress and time you save by not selling to many means you can serve your few high-price buyers at a much higher level. That makes their experience with you even better, and it makes your experience with them downright fun! Welcome to the joy of the business you’ve always wanted. If you are looking for ways to level-up your sales, save your business (or your marriage!), or just find a way to improve your bottom-line… Increase your prices by at least 15% immediately - before the sun goes down today. And when it works, send me a note and tell me about it. I don’t want a penny of your new earnings; you took the risk, and you earned the reward. But I do want to add you to my list of friends to talk over cover about business. Godspeed, #EverydaySpy P.S. - [If you want to see how real-world spy skills can transform your life in a matter of days, check out the powerful]( Crash-Course and get ready for unbelievable results...]( Follow @EverydaySpy on Social Media! [Facebook]( [Twitter]( [LinkedIn]( [YouTube]( [Instagram]( Andrew Bustamante, Founder of EverydaySpy.com, is a former covert CIA Intelligence officer, decorated US Air Force Combat Veteran, and respected Fortune 500 senior advisor. Learn more from Andrew on his Podcast (The Everyday Espionage Podcast) and by following @EverydaySpy on your favorite social media platform. This email was sent to {EMAIL}. Don't want to receive these emails anymore? [Unsubscribe]( EverydaySpy, 411 Walnut St. #20309, Green Cove Springs, FL 32043