Should Creators Stop Trading Time for Money? ft. Sara Loretta
Oct 24, 2023
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In this podcast, Sara Loretta, an expert in turning knowledge into a course or a productized service, discusses whether creators should stop trading time for money. The episode covers topics such as roadblocks to leveraging expertise, the possibility of making money while you sleep, Sara's internal debate, and the responsibility of fixing everyone's problems and business. It also touches on creating the ideal business setup, balancing product development and audience growth, and finding fulfillment in client success.
Trading time for money can be a complicated path to earning predictable income.
It is possible to make money while you sleep by trading time for money.
Expanding a business and developing high-value offers without overworking is crucial for solopreneurs.
Deep dives
The struggle of pivoting and the fear of taking financial risks
In this podcast episode, the speaker shares their personal experience of having a low credit score and the fear of taking financial risks. They discuss the internal debate of pivoting and transitioning to full-time creating, while worrying about financial stability. The speaker emphasizes the deep-rooted trauma and anxiety surrounding their relationship with money, despite their current success in generating income. They also touch on the importance of finding ways to expand their business and develop high-value offers without overworking as a solopreneur.
Exploring the trade-off between time and money
This podcast episode dives into the debate of whether trading time for money is a good or bad decision. The host interviews Sarah Loretta, the founder of Systems Club, and they explore the challenges and roadblocks of leveraging expertise for predictable income. The conversation revolves around finding ways to make money while sleeping and overcoming internal conflicts. Sarah shares her mission to provide affordable business education for creators and freelancers, even if it means trading time for money. They discuss the importance of expanding the business and creating high-quality offerings without overwhelming oneself as a solopreneur.
Struggles with scaling and expanding the business
In this podcast episode, Sarah Loretta opens up about her struggle to scale and expand her business. She talks about the challenge of continuously creating products as a certified notion consultant and not having the time to maintain and update them. Sarah also expresses the difficulty in developing mid-ticket offers that provide high value but require less involvement from her as a solopreneur. She mentions the importance of finding ways to support her audience, even if they can't afford her high-priced services. Sarah discusses her desire to shift her business model and explore new ways to provide accessible business education while still growing her company.
The challenge of finding a balance in the business
In this podcast episode, Sarah Loretta discusses the challenge of finding a balance in her business. She talks about her struggle with being a part-time creator and wanting to provide one-on-one work but lacking the capacity to serve everyone. Sarah shares her excitement about exploring different ways to expand her business and develop high-quality, high-value items without overwhelming herself. She reflects on the importance of finding ways to nourish and continually improve her offerings while ensuring that her business doesn't become too push and pull as a solopreneur. Sarah contemplates the possibility of giving up certain types of work and exploring new avenues to maintain a healthy work-life balance.
Sarah's future vision for her business
In this podcast episode, Sarah Loretta shares her vision for the future of her business. She talks about her aspiration to build a productivity tool specifically for solo printers, addressing the unique needs of freelancers. Sarah envisions a tool that combines her content and expertise to help automate processes, streamline operations, and enhance professional development. She also mentions her personal creative goals, like finishing her novel and turning it into a TV show. Sarah expresses her desire to strike a balance between her part-time creator work, running her agency, and pursuing personal creative projects.
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Today we’re talking about whether you should trade time for money.
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You’ve seen the threads, you’ve seen the viral TikToks, you’ve seen the ads on YouTube promising endless riches if you turn your knowledge into a course or a productized service!
And while that sounds nice, it can be a pretty complicated path to actually earn predictable income from a business like that.
So it got me thinking, is trading time for money really that bad?
I decided to chat with my friend Sara Loretta who was struggling with that very question.
Sara is the founder of Systems Club, a full-service creative operations agency that offers fractional consulting services to help streamline and scale small teams. Put more succinctly on her LinkedIn headline: she’s the girl you call when your business needs a beatdown.
By the end of this episode, you’ll learn:
1. The roadblocks that often prevent us from fully leveraging our expertise… 2. Is it possible to trade time for money AND make money while you sleep? 3. Can Sara overcome this internal debate with herself?
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