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.

Andy Taylor

To accomplish my dream of being a film writer/director, I believed this dream would simply manifest itself if I put all my eggs in one basket. Consequently, I never pursued film with profits in mind. I always believed profits would come as a byproduct of hard work. (Because success = profits). The answer, I realized, was more complicated than I had imagined. This past summer, I worked an unpaid internship for a prestigious production company in Los Angeles. There, I realized salaries in the film industry were LOW, much lower than I had anticipated. Even at the top companies, many people out of college were making minimum wage (sometimes even no money), for their labor. After 10-15 years of grinding work, people were able to make nearly 6 figures, but by 10-15 years out of college, I had imagined I’d already be a director. Read more>>

Kariz Zozaya

The primary challenge I encounter in achieving profitability within my industry is setting prices for the custom and personalized items I create. Many of these pieces are my own designs, and I often struggle to find a balance between affordability and profitability. At times, I have engaged in lengthy discussions with clients about a design, which can be quite time-consuming as I adjust colors, elements, sizes, fonts, and more. Additionally, I must consider the time required for the laser machine to produce the design, as well as the wear and tear on the equipment. Read more>>

Charlotte Howard Collins

Absolutely, it can be tempting to view a business or industry from the outside and assume profitability is straightforward. However, in the realm of coaching and consulting, one of the biggest challenges to profitability is the inconsistency of income streams. Many entrepreneurs, particularly women, struggle to maintain a steady flow of clients, which can make financial planning difficult. For example, I once worked with a client who had a thriving coaching practice but faced significant fluctuations in her income. Some months, she would have a full roster of clients, while other months were nearly empty. This inconsistency forced her to constantly hustle for new clients, which took time away from serving her existing ones. It also added stress, making it harder to focus on growth and innovation in her business. Read more>>

Jing Yao

In the healthcare industry, one of the biggest challenges to profitability is balancing regulatory compliance with user experience while also gaining user trust and adapting to the rapidly changing needs of users. At Klarity Health, one of my responsibilities was to ensure that patients could easily book appointments while all data processes complied with HIPAA and other privacy regulations. This required me to carefully balance regulatory requirements without making the user experience cumbersome. Klarity Health initially focused on mental health services, but as the pandemic ended, more users expressed needs for other types of healthcare. As a result, we expanded the platform into a comprehensive healthcare platform that supports both online and in-person consultations. Read more>>