111: Gain Control Of Your Business Finances Whether You Are Starting A Business Or Side Hustle


111: Gain Control Of Your Business Finances Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed


Whether or not you feel you have control of your business finances, you want to make sure you are doing everything you can so that you can end this year in control. These next few weeks will fly by so quickly, and before you know it, you’ll need to gather all your financial information to prepare your tax return. In today’s podcast episode, I’m talking about how you can make sure you are in control of your business finances not only for the end of this year but going forward into the new year as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, listen in as I help you learn more about the reason why you might put off taking control of your business finances. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


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Show Notes:


Whether or not you feel you have control of your business finances, you want to make sure you are doing everything you can so that you can end this year in control. These next few weeks will fly by so quickly, and before you know it, you’ll need to gather all your financial information to prepare your tax return. In today’s podcast episode, I’m talking about how you can make sure you are in control of your business finances not only for the end of this year but going forward into the new year as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, listen in as I help you learn more about the reason why you might put off taking control of your business finances. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…


Welcome Back…Many business owners say they feel like they lose control or are out of control when it comes to the end of the year with their business finances. Your books are not up to date, you don’t have anything organized, you don’t have time to review your financial statements so that you can make smart business decisions, you don’t understand what your financial statements mean about your business, or you are worried you won’t have everything ready for your upcoming tax preparation.


I want to talk to you today about how you can feel in control during these last few weeks of the year. But first, I want to take a look at why you feel out of control in the first place. Because if your primary thought is, I don’t want to lose control, how does that make you feel? It probably makes you feel a little anxious, discouraged, or maybe even frustrated, and when you are moving through these last few weeks with fear and overwhelm, you are more than likely not thinking at your best. You are probably not making decisions from your highest capability. Decisions like what to spend your money on, how to market your business, and which tasks are the highest priority and will ultimately grow your business. You worry about not having reliable financial information, which causes you to wonder what you’ll need to pay in taxes. You don’t think about your net income and how you could improve this prior to the end of the year so that you can take advantage of tax deductions and what you could do to improve your cash flow.


When you operate from anxiety and overwhelm, you stop doing your bookkeeping, you stop reconciling your bank statements, and you stop putting in the effort because you would rather spend time scrolling through social media or surfing the web for anything that takes your mind off what you should be doing. You don’t plan ahead. You procrastinate and avoid making any sort of plan that will help you catch up or keep up with what’s most important in your business or your business finances.


When you are operating feeling anxious and overwhelmed because you don’t want to lose control, what’s actually happening when all this is going on, is that you’ve actually lost control. I want to point out that you may have never had control in the first place. Because you were thinking you didn’t want to lose control, and if this is happening every year, you’ve trained your brain to believe that you’ve actually lost control, and when you’ve lost control, it means that you don’t do your bookkeeping, you don’t review your financial statements, and you don’t have information to rely on to make smart decisions, so of course you feel anxious and overwhelmed. You are worried because this has been your story in past years or at the end of prior years. Let me remind you that what you focus on, grows. And we always seem to focus on what we don’t want. We don’t want our bookkeeping to get behind, and we don’t want to lose control, but what do you want? Have you asked yourself this question? How do you want to experience these last few weeks of the year? Ask yourself, and pay attention to your answer. You might know that you don’t want to feel out of control, but how do you want to feel? How do you want to experience the last few weeks of this year? And if I guess, you probably want to feel in control, am I right?

But if you don’t have a solid plan for the rest of the year, what are you going to be in control of? Your brain is always going to want to default back to what it knows, and what it knows is how to worry about wanting to not lose control. I don’t want to lose control is a common self-sabotaging thought, so I want you to know you are not alone. Like I said, many business owners say that their biggest worry was not wanting to lose control. So I don’t want you to experience these last few weeks feeling anxious or overwhelmed about being behind with your bookkeeping or out of control with your finances. And the way that you will experience these last few weeks not feeling anxious or overwhelmed about losing control is that you need to have a plan. Your brain likes clarity; your brain wants to know what’s happening. So just know you have not lost control of your business finances. You haven’t lost control just because there are only a few weeks left in the year. You haven’t lost control of how to do your bookkeeping; you haven’t lost control of how you can review your monthly financial statements. The only thing that you have lost control of is your mindset if you keep believing I don’t want to lose control these last few weeks of the year. You believe that you are going to lose control because you don’t have a plan. A plan to use your ability to block off time and get caught up. As long as you continue to believe you don’t have control of these things, you will continue to lose control. So, yes, you will lose control, but I don’t want you to beat yourself up if this is how you have approached your business finances in the past. I want to help you change how you experience the upcoming weeks. So tell me, are you going to toss out the thought you have about not wanting to lose control? Are you ready to focus on how you want to wrap up this year? The way you do this is very simple. You just decide ahead of time how you want to feel. How do you want to feel in the upcoming weeks? How do you want to feel when you start the new year? You get to decide ahead of time how you want to feel physically and emotionally when you end this year. Decide that today. I want you to grab a notebook and write it down. I want you to find a way to hold yourself accountable to that feeling and to your decision. I want you to create the vision for how your business finances will look at the end of the year. As you create this vision, find a way to hold yourself accountable. When you do this, you are creating clarity in your mind. After you write it down, I want you to revisit your plan consistently because you are going to have to remember that as you go through these last few weeks of the year that this is what you are working towards. You are going to work on making decisions that align with the decision that you’ve made today. And as you do this every single day, you are going to spend the last few weeks of this year working towards your vision. You’ll be disrupting your old ways of thinking when it comes to the end of the year. You are rewriting your old belief that the end of the year means that you lose control. You are going to learn how to be more intentional and less reactive because you are going to start making daily decisions from this vision that you created for yourself. Every day you’ll see exactly what you are working towards for the end of the year. This decision that you are making today is from how you see your future self, not how you reacted in the past. Your future self knows that at the end of the year, you are in control of your bookkeeping and your business finances. So I want you to experience these last few weeks of the year in a completely different way. You’re going to do what it takes from intention because you are making decisions that align with your goals of how you want to feel at the end of the year by having your mindset, your bookkeeping, and your business finances in control. When you are more intentional about how you approach your bookkeeping and business finances, you’re more likely to enjoy these last few weeks and not worry about being out of control. I help people create these plans in the Mastering Your Small Business Finances PROFIT LAB. I walk you through how you can set up the processes you need to stay up to date with your bookkeeping and not only understand your financial statements, but you’ll know what they mean about your business so that you can make smart decisions if you want to increase your profits. Enrollment in the Mastering Your Small Business Finances PROFIT LAB is currently open. I know you want to experience these last few weeks differently. I know you don’t want to lose control of your business finances again. I know you want to learn how to set up processes so that you don’t have to spend your precious weekends catching up on your bookkeeping. It is possible to have a plan in place so that you can have control over all or a majority of it in these next few weeks. This is the time to enroll in the PROFIT LAB. Right now. Procrastination will only keep you from that vision you have of being in control of your business finances longer and longer. You know that time flies by so fast, and before you know it, it will be time to file your tax return, and you’ll still be trying to figure out how to get your bookkeeping up to date, not to mention it will be too late to take advantage of any tax planning. This is not something you can just ignore. You need a plan for these last few weeks. I am going to challenge you. I want you to make this the first year that you are up to date with your bookkeeping and in control of your financial statements because you learned how to create a different result. You learned how to create a different experience for yourself during these last few weeks of the year. In order to do this, you have to start with your mindset, and the mindset that you want to have is one that has you feeling in control rather than out of control. Go to www.FinancialAdvetnure.com/profit and enroll right now. Join me and other business owners just like you, who are all going through this process together. They are figuring out how to have it all this year. Enrollment is open. Don’t procrastinate if this is something you want to learn how to do. Get ready to experience what it feels like to be in control this year. The time is now; join us inside the PROFIT LAB today. It’s your time.


And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.

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