Sarah Duran on LinkedIn: Corey Fradin is one of the most genuine people I have ever met and I'm so… (2024)

“Independence is happiness.”Susan B. Anthony

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In the early days of solopreneurship, it often feels like we have to choose between reinvesting profits into our business or paying ourselves a decent salary.Strategic investments in things like tools, team, or education ultimately benefit BOTH our bottom line and our personal bank account.For example, hiring a virtual assistant to handle tasks that drain your energy frees you up to take on more client work or create new offerings.Upgrading your website or marketing can attract higher-paying customers. Investing in a course or coach can help you uplevel your skills and charge premium rates.Of course, this doesn't mean throwing money at every shiny object or "quick fix" solution. You still need to be intentional with your resources and align your spending with your big-picture goals.Have you been hesitant to invest in your growth out of fear that you're shortchanging yourself? I feel you. It can be a scary leap.But I promise, betting on yourself and your vision is always a smart move.--------------------Hi! I’m Sarah Duran, a fractional COO and business coach who helps freelancers and consultants build better businesses.🧐Follow me for more on independent work, worth, and boss mindset.📝Take my free assessment to get instant clarity on how to take your freelancing or consulting business to its next phase (link in comments).

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This year continues to be a grueling reminder of the chaos, uncertainty, and cruelty that exist in the world.As we (in the northern hemisphere at least) move into the bright summer months, we have a sense of cognitive dissonance - we𝘴𝘩𝘰𝘶𝘭𝘥be feeling optimistic. However,we’re still feeling uncertainand dealing with the residual trauma from our collective and individual experiences.For me, at least, I mostly try to push through feelings of uncertainty with my default coping mechanisms—planning and doing. As often happens, when I genuinely need rest, the universe forces me to rest by getting me sick.After recovering physically, my mental state is still dying for a break.I firmly believe thatfocus is crucial for thriving and doing deep work, but focus only works when you’re willing to give yourself the space to be idle and truly rest.How do you build TRUE rest and idleness into your life?If you’re exhausted like I am, don’t fall prey to “refocusing,” “being productive,” or resting because it will make you better at what you “do.” Instead…𝐑𝐞𝐬𝐭 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐬𝐚𝐤𝐞 𝐨𝐟 𝐫𝐞𝐬𝐭- Don’t rest for any other reason than you want to.- Don’t do anything “productive” while you rest (plan things, read anything that’s not purely for pleasure, check items off your mental to-do list).𝐄𝐦𝐛𝐫𝐚𝐜𝐞 𝐭𝐡𝐞 𝐫𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐚𝐫𝐲 𝐚𝐜𝐭 𝐨𝐟 𝐩𝐫𝐚𝐢𝐬𝐢𝐧𝐠 𝐢𝐝𝐥𝐞𝐧𝐞𝐬𝐬- Don’t justify to anyone why you “deserve” to rest.- When someone asks how you are, resist the urge to say “busy.”

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Profit vs. cash flow - one of the common misconceptions among solopreneurs.Just because your profit and loss statement shows you're in the black doesn't mean you have actual money in the bank.We need to be keenly aware of our cash flow - the inflow and outflow of money in our business.Things like inventory purchases, loan payments, or even just timing of client payments can create a cash crunch even if we're technically profitable on paper.I've definitely fallen into this trap before, assuming that a profitable month meant I could splurge on business expenses or personal treats. But then I'd log into my bank account and realize I was cutting it way too close for comfort.That's why it's so crucial to have a clear picture of your cash flow, not just your profitability.Tools like profit and loss statements, balance sheets, and cash flow projections can give you a more holistic view of your financial health.If you don’t know where to start, anyone who attends my Built to Scale workshop gets my 𝐏𝐫𝐨𝐟𝐢𝐭 𝐌𝐚𝐫𝐠𝐢𝐧 𝐏𝐥𝐚𝐧,a budget projection template created specifically for scaling freelancers, consultants, and solopreneurs. This comprehensive tool helps you calculate your projected income, subcontractor expenses, and profit margins, and even breaks down what you’re making hourly so you know for sure that you're not giving away the farm.Register for the next workshop now (link in comments).

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"I think that there is far too much work done in the world, that immense harm is caused by the belief that work is virtuous, and that what needs to be preached in modern industrial countries is quite different from what always has been preached."-Bertrand Russel

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For the last month or so, I’ve found productivity incredibly difficult. This dynamic has totally thrown me off, and I’ve had a hard time bouncing back to my usual productive self.This is not common for me - I love my job, my work, and “getting things done.”This year continues to be a grueling reminder of the chaos, uncertainty, and cruelty that exist in the world. We’re all emotionally and physically exhausted with no end in sight.Continue reading "How to Praise Idleness" 👇

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This mindset shift is SO crucial for success in business (and life).We're all going to make mistakes or have months where we overspend or underestimate. Don’t beat yourself up and give up altogether.Instead, acknowledge the misstep, make adjustments, and keep moving forward. Every "failure" is an opportunity to learn and refine your budgeting process.I know firsthand how tempting it can be to throw in the towel when you blow your budget or realize you forgot to account for something. But as Ryan Page, CPA said, kudos to you for having the resilience to pick yourself up and try again.That's the mark of a true solopreneur!Give yourself grace if you’re struggling with this right now and celebrate the fact that you're even showing up to this important (if sometimes frustrating) part of business ownership.--------------------Hi! I’m Sarah Duran, a fractional COO and business coach who helps freelancers and consultants build better businesses.🧐Follow me for more on independent work, worth, and boss mindset.🚀Turn Your Freelance Hustle Into a Sustainable Business by Leveraging on Your Most Impactful Work - Sign-up for my next FREE workshop (link in comments).

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Freelancers, have you quiet quit?I have so many conversations with the freelancers about terrible clients that pay well, work that isn’t fulfilling but is steady, and clients that we stay with because they’ve “been with us since the beginning,” even if the relationship is no longer a good fit.I hadn’t considered these examples as quiet quitting but as the trade-offs you must make as a freelancer.In reality, these are all ways we settle for less than we deserve because of narratives around survival, scarcity, and loyalty.Do I think freelancers should go “above and beyond” for clients that don’t value them? Absolutely not.Do I think freelancers should keep working for clients that don’t value them and do “so-so” work just to get by? Also no.Freelancers should take their desire to “quiet quit” as a sign that a particular client or project isn’t a good fit and move on. It isn’t about doing more than you’re expected to do; it’s about acting intentionally to get what you need from your work.

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When Ryan Page, CPA, founder of Back Pocket CPA started his freelance business, the very first thing he did was create a budget.Instead of just winging it and hoping for the best, he got crystal clear on income, expenses, and take-home pay from the get-go.By creating a budget, he was able to:- Make informed decisions about his pricing and service offerings- Avoid the feast-or-famine cycle by planning for fluctuations- Pay himself a consistent salary while also reinvesting in growthI know budgeting can feel overwhelming or restrictive, but it's actually one of the most EMPOWERING things you can do for your business. When you have a clear picture of your financial reality, you can make strategic moves with confidence.If you're just starting out (or even if you've been at this for a while), I highly recommend carving out some time to get intimate with your numbers.PS: If you don’t know where to start, anyone who attends my Built to Scale workshop gets my 𝗣𝗿𝗼𝗳𝗶𝘁 𝗠𝗮𝗿𝗴𝗶𝗻 𝗣𝗹𝗮𝗻𝗻𝗲𝗿,a budget projection template created specifically for scaling freelancers, consultants, and solopreneurs. This comprehensive tool helps you calculate your projected income, subcontractor expenses, and profit margins, and even breaks down what you’re making hourly so you know for sure that you're not giving away the farm. Register for the next workshop now (link in comments).

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“Unless one lives and loves in the trenches, it is difficult to remember that the war against dehumanization is ceaseless.” –Audre LordeWe take allyship very seriously in our family—living and loving alongside our LGBTQ+ friends, family, and community is a privilege. Wishing everyone a happy pride month!

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