The hardest lesson I learned building a $200K side business.
I used to give “friend discounts” to everyone I knew.
Big mistake.
It nearly killed my business. And it definitely killed some friendships.
Here’s what I learned about friendship, business, and why the people who truly care about you will never ask you to work for less.
The friend discount trap
When I started my marketing consulting business, I thought being generous would build loyalty.
College friends got 20% off.
High school buddies got 30% off.
Family got the “cost price” — whatever that meant.
I felt good about myself. I was helping people I cared about while building my business.
Then I looked at my bank account.
I was busy. Really busy.
And completely broke.
The wake-up call
About 5 years ago accountant asked me a simple question:
“How much did you make per hour last month?”
I did the math.