Business
“Hell in the Hallway”
๐ข๐ฐ๐๐ผ๐ฏ๐ฒ๐ฟ ๐ถ๐ ๐ ๐ฒ๐ป๐๐ฎ๐น ๐๐ฒ๐ฎ๐น๐๐ต ๐ฎ๐ป๐ฑ ๐๐ผ๐บ๐ฒ๐๐๐ถ๐ฐ ๐ฉ๐ถ๐ผ๐น๐ฒ๐ป๐ฐ๐ฒ ๐๐๐ฎ๐ฟ๐ฒ๐ป๐ฒ๐๐ ๐ ๐ผ๐ป๐๐ต
I hope the language in the title didn’t offend you, but that was the title of the most recent podcast interview I had. I knew the interview was going to dig deeper than the story about my entrepreneurial journey, but I wasn’t expecting it to go that deep. So deep that the host titled it ‘Hell in the Hallway’.
Check out my interview with Hilary DeCesare of The Relaunch Podcast —> HERE
Running a Business is Risky!
It takes a lot of bravery to leave a stable salary to become an entrepreneur.ย When I was a teaching online independently, I made a lot more money than I did before hiring.ย Starting my organization lead to my first loss.ย Having an organization means I spend less time teaching but more time doing admin work.ย I also have to pay for more services (example: payroll, automations, etc).ย During the summer months, I watched my monthly income of nearly $10,000 drop to $4,000.ย Why did this happen? —> Scroll down to continue
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Running a Business is Risky --> continued
I was used to taking the summers off and only offering prerecorded classes.ย I think a lot of the families knew this; they were used to Teacher’ Jade’s Writing Academy having limited courses from the end of June to the first week of September.ย The first summer I hired teachers, I add less than five live classes.ย So, it was still limited.
This past summer, I had six teachers and I listed over forty classes.ย Some of those classes did not fill up.ย When the number of enrollments didn’t exceed the payment to the teachers, it came from my own profits.ย This was the first time I experienced a loss, and it wasn’t just one.
I had to set up a new policy and take on teaching classes.ย If you recall, I had a mini celebration of my teaching retirement in May.ย I felt like I had failed.ย I thought I had a good strategy in place.ย I thought my business was failure proof.ย I learned from that experience that I needed to develop a new strategy.ย It is still in the works on top of all the other tasks and goals I am trying to accomplish.
Even though there are many risks in running my own business, I would still choose it over any other option.
ย
Are you fearful of taking risks?
Have you taken a risk?ย What was it?
Are you ready to join the four-day challenge? Click on the iG or FB icon to get started. (Check out the Storytime post on YouTube if you need some more encouragement).
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