Eight months after starting her own business, Allyson Byrd found herself on food stamps despite being a nationally recognized speaker, coach, and teacher.
"I had built popularity but no money," she says. "I had inspired people but not in a way for them to spend money with me."
Byrd knew she had to turn her business around quickly. She read the Complete MBA for Dummies (For Dummies; $16.27) and outlined how much money she needed to make every five weeks in order to be profitable, and eventually challenged herself to crunch that five-week goal into one-week, one-day, and then one-hour goals. Using these same lessons, Byrd, who is the CEO of Money Movers International based in San Antonio, Texas, now teaches other entrepreneurs how to get serious about growing their revenues.
Within the past seven months she has helped more than 225 entrepreneurial leaders grow almost $9 million in new revenues. Below, she offers three tips for helping those whom she calls "parallel-preneurs" successfully grow their side hustle revenue while managing their day job.
Understand the results you produce:
"If you want to be a consultant, ask yourself what kind of consultant you want to be and understand the results you give," says Byrd. In understanding your results, Byrd also encourages business leaders to make sure they aren't doing too much without exposing...