Finding money at this time of year can be really difficult…But you know what makes it more difficult? 👇
Not understanding your business finances!
How much you’re earning
How much you can afford to take out of the business
When the next bill needs to be paid
Last week I chatted to you about the importance of paying yourself a wage from the very beginning of your business (or to start now if you haven’t already!) This week I wanted to take it a step further and determine just how much you should take out of your business, versus reinvest back into it.
Here’s some things to think about that might help.
Read MoreDo you feel like you pay yourself enough in your business for everything you do?
Confession: For the first three years I was in business I didn’t pay myself appropriately. I just took money out willy-nilly when I needed to cover a bill (or maybe buy myself a new pair of shoes 😉).
Read MoreWhile I’ll never profess to be a numbers expert, I have learned over the years how incredibly important it is to have a really good understanding of my numbers and where my money is coming from—and going! But I haven't been able to do it alone. And so today I wanted to share with you the people on my “numbers team” that make it all possible.
Read MoreI'm working with some incredible business owners as part of my elite mastermind program, Simply Business Accelerator, and part of that program involves keeping a close eye on your business finances… AND reporting on them each month.
Read MoreDo you shiver at the mention of the word “budget”? If so, you’re not alone. Most of my coaching clients do, too, as did I in the early years of my businesses.
It’s okay to not love dealing with the numbers side of your business, but that doesn’t mean you can avoid it all together! Just ask my beautiful business mentor, Glenda, who has been making me make budgets for the last 12 years. (I know that she's laughing at the irony of me now, teaching other people how to make budgets!)
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