The Numbers Behind My Creative Business

A Candid Look at My Business Finances (And What It Means for You)

Last week, as I was gathering my tax documents for the accountant, I took a deep dive into my small business's income and expenses. It's funny how things change – years ago, I relied on complex accounting software, but now, with a more streamlined business, it's become a much more manageable, almost meditative, task. Fewer receipts, more clarity.

My focus this year was on digital services, which, like many things, have seen price increases. This prompted a thoughtful review: what's truly essential, and what can I let go of? In 2024, my business invested around $5000 in web hosting, payment processing, seller fees, subscriptions, Zoom, Canva, and various applications. Some, like Kajabi (which hosts our wonderful community), directly generate income. Others, like Zoom and Canva, are tools that support potential revenue. And of course, every Etsy fee represents a sale, a connection made.

After careful consideration, I made some adjustments. I decided to pause web hosting for Watermelon Wishes, saving over $30 a month, while still keeping the domain name. I also said goodbye to my Zoom subscription, as we primarily use the live room within Studio 365, and opted out of Planoly, realizing I wasn't maximizing its potential. These changes added up to around $540 in savings – not a fortune, but a meaningful step towards both financial efficiency and my commitment to sustainability.

This process also led me to reevaluate my pricing, particularly for new members of Studio 365. It's crucial that my pricing reflects the true value of what I offer. Let’s break it down:

Kajabi costs me $199 per month. With 19 active subscribers in February, breaking even would mean charging $10.47 each. But as we all know, a thriving business needs more than just breaking even. So, new Studio 365 members will now join at $19.95 per month, gaining access to all my PDFs, our weekly sew-together, the holiday gift exchange, and 24/7 access to our live room, messaging, and chat boards. The engagement within our community, especially in our live room and chat boards, is truly remarkable. And those weekly meetups? At the new price, they're less than $5 each – a fantastic deal for the connection, learning, and inspiration they provide.

While numbers might not be the most glamorous part of running a creative business, they are essential. Understanding where your money flows empowers you to make informed decisions. Investing in the right tools and pricing your offerings fairly are key to sustainable growth. I hope sharing this process gives you a helpful perspective, both as a business owner and a mindful consumer.

I've occasionally heard, 'I can't afford $__ a month.' And I understand budgets vary greatly. What I want to gently convey is that running a business involves real, tangible expenses. It's not about challenging anyone's financial situation, but rather about sharing the reality behind the scenes.

Think of it this way: every small business, including mine, is a delicate ecosystem. We all invest our time, energy, and resources to bring value to our customers. By understanding and respecting these investments, we create a more supportive and sustainable environment for everyone.

Let's focus on the value we create, the joy we bring, and the community we build. When we support each other, we all thrive. Every purchase, every subscription, every connection is a vote for the kind of creative world we want to live in. And together, we can make it a beautiful one.