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Thanks, Joelle! This is interesting because I am in the process of writing a blog post concerning this very issue. For a long time, I believed that all I needed was passion for what I was doing and that the money would just follow. Well, passion without an understanding of "the numbers" didn't work for me. Yes, I was getting new clients left and right, but I still didn't have any money!
How do you have clients, yet no money?
By setting the wrong price points, not understanding cash flow, receivables and payables. While money is not the goal, a good understanding of it is critical to business success. Otherwise, all you have is an expensive hobby.
This is very true!
I believe no one wants an expensive hobby. Your post below speaks to the fact that a balance of passion as well as understanding the numbers is quite necessary. That's why I love this site because there is so much information on this site to nurture both the passion we have for our businesses and the resources we need to have our business financial affairs in order. Looking forward to reading your blog!!