Shannon Simmons: The Challenge of Scaling a Service-Based Business (GPP 46)


Finances and budgeting are significant and crucial parts of running a business. I’ll admit, it is not my favorite part of being a business owner – but it is too important to ignore. In today’s episode, I am joined by Shannon Lee Simmons, finance, and money management coach and founder of New School of Finance based in Canada. She shares her “rags to riches” story with us, her business model, and the services and products that her company offers. We also get down to the nitty-gritty details on her personal and professional finances, discussing how much she charges for each of her products and services as well as her company’s net profit last year on each of her courses and services.

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In This Episode You’ll Hear:

  • How Shannon gets paid.
  • How Shannon got her start. What’s her “rags to riches” story?
  • What personal and business related lessons has she learned throughout her career?
  • How did Shannon price her services after going from a “barter system” business model to a paid services business?
  • Why does Shannon feel that pricing her services low at first and building her business up to higher rates was the biggest business mistake she has ever made?
  • How much did she invest in the online courses and product side of her business?
  • How much did she make last month on her online courses? How much on her services?
  • How much does she charge for each of her products?
  • How does she market her business?
  • What’s her secret for getting noticed by the media so frequently?
  • Is media coverage part of her marketing strategy?

Mentioned In This Episode:

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Thanks for listening! Time to go get yourself paid. :)

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