Profits differ from net income, and no where is there clearer than for small business owner-operators, artists, and creatives. Just because you have a certain amount of money left over after covering expenses doesn’t mean you’ve made profits. Why? Because you have to factor in the cost of your labor and the risk you took and so after factoring that in, millions of small businesses and artists and creatives are operating with little to no profit. However, it doesn’t have to be this way and so we wanted to create a space where sharp entrepreneurs and creatives could come together and discuss the challenges to profitability and potential solutions. If you have something valuable to add to this conversation that can help others achieve profitability, please reach out to us as we want to get your ideas in front of our readers.

Abby Grace Springmann

I’ve seen it over and over again with artists as a whole- we’re afraid to price our work like business owners, and instead end up charging based on how a number makes us feel. And in doing so, we forget that *we’re* not the consumer! Pricing is part art, part math- you absolutely must know your numbers, how much time and money it costs you to produce your deliverables, how much you need to bring home, etc. Read more>>

Stefano Bonzi

Yes, absolutely. The recording industry does face significant challenges when it comes to profitability. One of the biggest hurdles is the changing landscape of music consumption and distribution, primarily due to digital technology and the internet. Some key factors that contribute to the profitability challenges in the recording industry are: Read more>>

Jett Gibson

The biggest challenge one faces in this industry is patience and the willingness to not give up. Statically, 80% of people that enter Real Estate will give up and quit after their first year. That number goes to 90% after year two. The reason for this is because most people don’t understand that it’s not selling homes that is the part, it’s finding the people to buy those homes, that is the hard part. Read more>>

Lagusta Yearwood

The food industry has notoriously low profit margins because of so many factors: labor costs, endlessly rising food costs, supply chain problems, packaging costs, it’s endless. We charge a real and fair price for what our products are made of, but we don’t want to be a luxury brand. So our challenge is for our customers to understand that while they’re paying double or even more for a piece of candy they would buy in a supermarket, Read more>>

BJ Lieberman

I think people see a busy restaurant and assume that we are making tons of money. It just isn’t true. Restaurants are an interesting study in peoples’ perception of value and an exercise in WHAT people value. By this, I mean that everyone has a point of reference for what they think a food item should cost. On occasion we will add a cheeseburger to our menu, and when we do, we make our own brioche buns, grind and form our patties, make our sauces, pickles, etc. We only use the best ingredients. We pay our staff well. Read more>>

Sherrill Hill

Finding your niche and staying true to yourself, With the stained glass, I had to find out who I wanted to be in the trade. I am an artist but I can build the door that puts the glass. Can make small mass produced pieces for craft shows. Made church windows for years with the company I learned stained glass from. Decided to be an artist and make custom work along with pieces that I dream about. Read more>>

Ryan & Desiree Nelson

I feel one of the biggest challenges for farmers in general, is to have consumers paying the actual price it takes to produce the food. Especially so for regenerative farmers, who typically use labor intensive farming practices and high quality inputs. Many industries can expect to get 7-10% profit according to a simple Google search. And to be clear, that is the amount above paying yourself, and all overhead costs of the business. Read more>>

Brenna Harris

Most people look at wedding planner pricing and assume the vendors offering the services profit 100% of sales. However, there are a lot of hidden costs associated with offering services to clients and competing to be the best in your industry. Everything from training and certification, to maintaining your business license, to paying for advertisement and travel are all costs that quickly add up and take a toll on a business’ profits, especially small single-owner businesses. Read more>>

Lisa Fulk

The last few years have been incredibly challenging for most small food businesses. Between inflation and weather, the cost of raw ingredients has tripled on nearly all of the items we use in the kitchen. We work closely with local farms whenever possible but we also need to have fresh produce during the months when little grows here in Florida. Read more>>

Bernadette McKeever

As a 20+ year commercial photographer and business owner, and consultant, the biggest challenges to profitability that I’ve witnessed time and time again are a lack of mentorship, marketing knowledge, and photography skills. Read more>>