By Christa Myers
There is a shared thought within our industry that if a business is financially successful; they aren’t in it for the horses. That they are even greedy for making a profit within or with horses.
As a collective, this thought is holding us back from shifting the industry. The industry needs encouragement to create stable and profitable businesses; for the horses.
Use profit to lead your business to make an impact on the industry you are passionate about.
Trainers are not greedy for charging a lesson rate that is based on their value and profitability.
Equine sales are able to sell horses with a profit margin and still do well by the horse.
Profit actually allows us to do better by the horses.
Lesson barns that aren’t just nearly surviving can have their school horses on a regular bodywork schedule; the quality of life benefits. Coaches who are not financially strapped and physically broken can guide the next generation forward. Riders that have worked through the levels are able to afford the step into the bigger rings.
Profit is not greed. Profit is the sole purpose of a business. We do need to be mindful of pricing and understand the relationship between pricing and brand.
Many of the equestrian entrepreneurs I work with didn’t use their financial data in the development of pricing their offers… and it shows within their finances and business.
If you’re continuously funding your business through personal funds that is a indicator you need to sit down with your numbers and decide how to fix the cash drain. There should be no shame felt or casted because an equestrian business actually makes money.
Money is physical energy. As an equestrian entrepreneur you offer your energy through your service or product and in exchange physical energy is exchanged. This should be considered when creating your price for each offer.
Equestrian entrepreneurs and businesses should be able to create money without being thought of or labelled greedy if the business ethics are being maintained.
Have there been moments you’ve either felt or been labelled greedy for making money in horses?