The worst business advice I’ve heard or been given (and my favorite advice instead)

We’ve all been bombarded with tips and tricks from various sources, but not all advice is created equal. So, I’m here to debunk five pieces of advice that I believe can lead you astray, and share what I think you should focus on instead.

The worst business advice I’ve heard (and what to do instead)

1. Trading time for dollars

Bad advice: They say being a service provider means you’re just trading time for dollars and can never scale your business without passive income streams.

The reality: While it’s true that trading time for dollars can limit your scalability, there are ways to scale a service-based business. Focus on efficiency and pricing your offers strategically in order to scale.

2. Know your worth to make six figures

Bad advice: Some say if you want to make six figures, just know your worth and hold yourself accountable.

The reality: Knowing your worth is important, but it’s not the only factor in making six figures. Success requires strategy, flexibility, and understanding your market.

Knowing how to set your prices is a huge part of business ownership, and it’s part of what I teach in Well-Oiled Offer Suite.

3. Magic conversion rates

Bad advice: You might have heard about a formulaic approach that claims 20% of your audience will convert at each stage of your funnel.

The reality: Conversion rates vary and depend on many factors. Instead, focus on your own metrics and lean into what’s working for you.

4. Sell to Pain

Bad advice: Some suggest focusing solely on agitating pain points to make sales.

The reality: While addressing pain points is crucial, solely focusing on them can lead to desperate purchases. Balance is key; highlight benefits and transformation too.

Personally, I don’t want to work with people who think the sky is falling. I want to work with people who understand how a Custom Website or Custom Branding can transform their business. When you focus on attracting your ideal client based on the transformation you can provide them, you’ll enjoy working with your clients so much more.

5. People Will Pay You What You Tell Them It’s Worth

Bad advice: Setting any price and convincing people of its value will make them pay.

The reality: Pricing requires a balance between valuing your expertise and considering what your audience can afford. Conduct market research and set prices accordingly. This is why we stress market research so much in Well-Oiled Website, and teach you exactly how to conduct it!

My favorite business advice

Business success is a journey of learning and adapting. Don’t be afraid to pivot your strategy if things aren’t working. Adaptability and perseverance are key.

And remember, you’re not alone in your struggles. Every entrepreneur faces challenges, but it’s how you respond to them that matters. Stay tuned for more insights in our upcoming episodes, and thank you for being a part of the FU Fam!

The podcast for service providers, coaches, and freelancers

marketing strategy, online business growth, and work-life balance

Specific, Applicable, and Fab

First off, Felter’s personality and outlook on business is fab! Second, I was lucky enough to get a sneak peek at the first 3 episodes and dang, they’re spot on. Felter breaks down daunting topics into bite sized chunks. She draws upon past experiences, which is so relatable and makes me feel less alone. A must-listen for business owners!

– Olivia | The Resume Fox, Apple Podcasts

hosted by:

Lauren Felter

owner of Felter Unfiltered | the designer that non-designers love

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