Finances do not have to be intimidating
Becoming a business owner can be one of the most exciting ventures, as well as equally overwhelming. When you start your own company or organically build a revenue generating business, you’re wearing multiple hats, many of which may be out of your comfort zone and finances being one of them.
This also means it tends to be pushed to the side to complete the fun tasks first. But in the same way your social media content needs to be created and scheduled on a regular basis, your finances need to be viewed in the same way. It may not be as visually pleasing but there is no greater feeling when you start to see not only your sales increase, but your profits as well.
Finance simplicity is key. You don’t need to be overwhelmed with metrics or processes that doesn’t make sense for you and your business, however, building a strong infrastructure from the start will naturally provide clarity and discipline to how you handle your finances and make clear business decisions.
If you know what your cash flow can potentially look like in 30 days, would you buy that new laptop now or later?
If you can see that in five months of consistently bringing in $x amount in sales each month, you are able to bring on that additional hire, would you focus on making sure that target is met?
Most importantly, by growing your sales and profits, means increasing your salary. It’s one of the most common reasons why finances bring anxiety and stress to a business owner, because it’s not satisfying personal needs.
Start gaining control in your finances in a three step process; Learn, Apply, and Grow. You cannot apply a finance process until you know what it does and how it can help you, and completing the exercise once will be of no help in three months time.
It’s time to take the next step in being financially savvy. Read below and see how I can help partner with your business to take it to the next level!
You need to walk before you can run, and this also applies to your business finances. You’re not expected to become an accountant, but be familiar with what you’re looking at to understand the financials of your company. Knowledge is power, and it also provides peace of mind when it comes to your finances.
You can take my course, read the same book, or listen to the same podcast 100 times in a row, but you will only see the value once you apply to your own business. Once you know what profitability actually means, or how to forecast cash flow, set it up in your business and use the information to make strong decisions.
Finances are not a one-time task. It involves continuous review to develop efficiency, meet goals, and improve profitability. Your business will continue to change, and you need to adapt to it. Create a finance review schedule to check in on the healthiness of your business on a regular basis.
At any stage of your business, my services are geared towards helping you gain clarity on your finances, whether that be completing my online course, scheduling 1:1 coaching, or simply signing up to my monthly finance update. Check out my services and see how I can help you become more profitable.