This is entrepreneurship

You pay the cost to be the #boss

A few days ago I submitted my first $25,000 monthly invoice for one of my newest contracts. I'm not going to lie...it's one of the best feelings in the world to send 5-figure invoices. It's also a great motivator to keep striving.

As proud as I was, my loving husband jokingly (or rather seriously) said "you make so much money, but I don't see it". (Igbo man through and through).

Well...I completed this financial breakdown for him so
he could see the reality of being a business owner. I thought I would share it with you as well.

As you can see in the image above, I sent an invoice to a client for $25,000. (This is from my public health consultancy). Here is what came out of that $25k...

Training Director - $6,358 (Salary and taxes)
Subcontractor - $6000
Special Projects Coordinator (1099) - $2700
Instructor #1 (1099) - $750
Instructor #2 (1099) - $1000

Total: $16,808

REMAINING: $8,192

Now, as you can see I didn't mention any of the following fees: my salary, CPA, lawyer, HR consultant, marketing & ads (currently not running), virtual assistant (don't currently have one), technology fees, and normal monthly operating expenses...(and I'm sure I'm still forgetting a ton of other things).

The point of this blog post is to say...Yes, having a contract like this is nice but unless I have multiple contracts at the same time, I'm not turning a major profit. I'm not "balling out of control".

But, this is entreprenuership! It's a scary, crazy, wild ride and a daily bet on yourself that you can build something that's never been built before while considering all the people that you have brought along for this ride that are counting on you for their daily bread.

It's a major responsibility! I'm thinking not only of my household, but others. I'm not thinking about the latest bag I can buy. I'm thinking of the next training I'm going to send a member of my team too so I can develop them to take over more responsibilities to free up my time to go after bigger contracts.

Being an entrepreneur and #CEO is not a hobby (when done right), it is a lifestyle. I eat, breathe, dream my business. And I'm serious about it. Yes, I finally have the luxury of not working most weekends but that has taken me 3 years to get here!

Entrepeneurship is not for the faint, the weak, or the insecure. It takes guts and risks and money and time and other personal investments. Believe me when I tell you it #coststobetheboss

Entrepreneurship is also a balancing act. You don't know how much of your profit to invest back in the business. You don't know when your next contract is coming, so you have to hold on to what you have when you can. You take a chance every time you hire a contractor or an employee and they don't work out, because you also know if you don't hire, you won't grow.

#thisisentrepreneurship

Are you sure you're ready for this?...Schedule a discovery session today

###
Quisha Umemba is a Registered Nurse with a Public Health background. She teaches "helping professionals" to monetize their skillset so they can build, launch, and scale a profitable public health consulting business using her proven step-by-step system called Ready.Start.Launch! Find out more by visiting https://quishaumemba.com/ or schedule a 20-min discovery session.