If I’m So Fabulous, Why Am I Not Making Any Money?

Mission Valley Hera Hub member Ann marie Houghtailing, principal of The Houghtailing Group, informs members on her success secrets to being fabulous and making money.

If I’m so fabulous, why am I not making any money? This question haunts talented, brilliant people who are praised, but do not see their value expressed in their paycheck.

I started my own company almost four years ago. To the outside world it appears that I assembled a rocket in my backyard, procured a tank full of badass rocket fuel and skyrocketed, and that is exactly how it didn’t happen.

You need to redefine your relationship with your business and understand the role of revenue generation.

1. Don’t give your product away. Don’t fall into the trap of giving your product away to people who can afford it as some opportunity or promise for future work.  It RARELY if ever happens.  I don’t need 10,000 people to know me; I need a few people to pay me.
2. Quality business development. Understand the difference between quality business development and stuff that looks like it, but makes no money. Networking is great IF you know what you’re doing and what you’re trying to get.  Just “getting out there” isn’t going to equal money.
3. Don’t bank on the ‘big client’. Don’t get seduced by thinking that one big client or success will change your life.  It’s great to get press or land a big or important client, but no one event or transaction determines the future of your business.
4. Making money takes skill. Know that monetizing your business is about skill not luck.  Stop telling yourself you aren’t good at it and learn how to get good.  Nothing will make you feel more empowered in your business than the ability to create a dollar out of thin air on your own terms doing the work you love.

Being fabulous is just the beginning.  Earning a living and getting paid well for your work is another set of skills entirely, but if you so choose, you can become fabulous at making money and yes, you can do it elegantly and ethically.

Want to hear more advice from intelligent entrepreneurial women? Check our Hera Hub’s blog!
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Felena is a long-time entrepreneur and marketing maven.  Her latest venture, Hera Hub, is a spa-inspired shared workspace for female entrepreneurs. This as-needed, flexible work and meeting space provides a productive environment for women who primarily work from home.  Hera Hub members have access to a professional space to meet with clients and to connect and collaborate with like-minded business owners, thus giving them the support they need to be prosperous.  Cost-effective monthly membership options are suited for freelancers, independent consultants, entrepreneurs, nonprofits, and authors.

Hera Hub is much more than just a shared workspace; it’s a community of like-minded entrepreneurial women who find the additional resources, such as special classes, workshops, and one-on-one support essential for their business growth. The first San Diego location is conveniently located in Sorrento Valley.  By the end of 2012 Hera Hub will have additional locations in Mission Valley & Carlsbad.

Felena is passionate about education, earning her Bachelor’s degree in Marketing from the University of San Diego and her MBA from California State University Dominguez Hills.  She taught Marketing and Entrepreneurship at the Fashion Institute of Design & Merchandising and at California State University Dominguez Hills for the MBA online program for eight years. Felena was most recently rewarded for community efforts, as she was awarded the “Women Business Owner of the Year Award” by the local chapter of the National Organization of Women Business Owners.