113: Journey To A Profitable Business Whether You Are Starting A Business Or Side Hustle
113: Journey To A Profitable Business Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
To have a successful and profitable business, you’ll need to make sure your journey includes having a solid foundation for your business. This foundation is much more than just having an amazing idea for your business; it’s broken down into sections that are important to make sure you are mastering each of them so that you don’t have one area of your business that you are not strong in which could lead your business to struggle or even possibly fail. In today’s podcast episode, I’m walking you through the foundations I work with my clients on. Taking the time to really understand your strengths and weaknesses will help ensure you are building a solid foundation for your business. You’ll know exactly where you need additional help so that your business can flourish throughout the journey from startup through your growth stages. Your ultimate vision and goals for your business are obtainable when you really focus on the journey. Knowing exactly what you need to do and where you need to go so that your journey leads you to create a profitable business will take away much of the uncertainty and overwhelm you may be experiencing with your business right now. 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, grab a notebook and find out if your business is sitting on a solid foundation and set up for success. 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:
To have a successful and profitable business, you’ll need to make sure your journey includes having a solid foundation for your business. This foundation is much more than just having an amazing idea for your business; it’s broken down into sections that are important to make sure you are mastering each of them so that you don’t have one area of your business that you are not strong in which could lead your business to struggle or even possibly fail. In today’s podcast episode, I’m walking you through the foundations I work with my clients on. Taking the time to really understand your strengths and weaknesses will help ensure you are building a solid foundation for your business. You’ll know exactly where you need additional help so that your business can flourish throughout the journey from startup through your growth stages. Your ultimate vision and goals for your business are obtainable when you really focus on the journey. Knowing exactly what you need to do and where you need to go so that your journey leads you to create a profitable business will take away much of the uncertainty and overwhelm you may be experiencing with your business right now. 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, grab a notebook and find out if your business is sitting on a solid foundation and set up for success. 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…I know that since you are here listening to this podcast, you want your business to be on a journey to become profitable and successful. You want to make sure you are building a solid foundation for your business, but you may be wondering if you are missing something important or if you’re not sure where you need to start getting help for your business. After all, there are only a few business owners with the skillset that allows them to handle everything that comes their way in their business. It’s important to understand what your strengths and weaknesses are when it comes to your business and the foundations you need to have in place so that you can be successful.
When I talk with most business owners, they tell me that the top issues that they have in their business are generating revenues, having enough time for everything in their business, the lack of skills needed to be a leader in their business, growing their business, and marketing their business. Can you relate to these problems as well? Maybe your business is having difficulty with cash flow, finding team members or employees, managing your workflows, or understanding your financial statements. I want you to know that you are not alone when it comes to these areas of business, but being aware of where you are struggling in your business and doing something about it will definitely put your business in a better place than those who are just ignoring the issues and hoping they will go away.
When you purposefully take the time to see where your business stands currently and make a plan for where you want your business to be in the future, you start seeing exactly what you need to do in your business. You have a plan. You have your exact next steps. You know what your journey looks like and how you can get your business to the successful and profitable business you thought was only a dream or a wish you never thought would come true. When you map out this journey, you know which areas you’ll be focusing on as well as when or if you’ll need to get additional team members. For each step in your journey, you’ll know what the impact will be on the future of your business. I know it can be hard to get started on this journey, but I want you to know that, just like anything else in life, the best time to get started is now. Don’t wait for that magical date in the future; take a small step and just get started. Most business owners have an all-or-nothing mentality. Many of us are perfectionists…I know I am, but when you take a small step forward, you will start building momentum, and when you do this, you’ll find it is much easier to keep moving forward, even if it is simply one small task and then another. All of these tasks will ultimately get you to your goal. You need to put in the work to see the results. No need to wait for the perfect time; you can start today with this podcast episode.
Let’s dig into some of the foundations you should consider for your business. I work with my clients on these all the time, whether we are working one-on-one or inside the Mastering Your Small Business Finances PROFIT LAB. When we get started, it seems overwhelming to them, but as we work together to take each foundation one by one and decide what needs to be done in each area, my clients really get clear on their next steps. I call these foundations the MASTER Foundations. They not only cover areas in your business but what you, as a business owner or leader, should be working on as well. The first is Mindset. This area really focuses on you as the business owner. Most businesses are run as a side hustle or a solopreneur, and if you don’t take care of yourself, what will be left for your business? You need to make sure you are working on things like self-care, mental health, fitness, leadership, personal growth, and your personal finances. Next, you know it, I am talking about Accounting. This includes having an understanding of your business finances, bookkeeping, taxes, money mindset, profitability, and pricing. Strategy is next. This area focuses on your goals, milestones, branding, consistency, accountability, planning, and your business roadmap. The strategy of your business is where you will find the journey or path that you want your business to follow to make sure you are reaching all of your business goals. Next, we dig into Technology. This includes systems and software your business uses, processes, your operations, prioritization, time management, and productivity. In this day and age, you need to embrace technology so that your processes and systems can run efficiently. The next area in the MASTER Foundations is Effective Services. This is where you need to focus on your product, offer, what you are selling, the demand for your services, how passionate you are about what you are selling, when you are ready to scale your business, the competitive advantage your business has and your belief in your product or services. Believe it or not, when you have one hundred percent belief in your product or services and the impact it will have on your customers, your chances of success increase dramatically. And lastly, we focus on Relationships. This includes relationships you have with your customers, your vendors, your employees or team members, your growth, marketing, creativity, customer service, your competition, and most importantly, your customer satisfaction.
As I mentioned these foundations, were you thinking about where your strengths and weaknesses are? If you need to, make sure you replay this section and really dig deep into each foundation. Ask yourself how you are currently addressing each one. Where do you feel you need additional help? How would it feel to know you have these under control? Just like the foundation on a house, if there is an area that is weak, there is a likelihood that the house may shift, crack, or in the worst-case scenario, it could topple over. This is not what you want to have happen in your business. When you work on the foundation of your business, you will avoid those cracks; you’ll know that your business is solid and can handle any stress that comes your way. You’ll know how to generate more revenues, and of those revenues, you’ll know how you can increase your profits. By understanding your business finances, you’ll be able to see exactly where your business needs additional work. You’ll be able to grow your business which will allow you to have a work-life balance you can enjoy. You’ll know exactly what is working and where you need to make improvements within your business. We work on this in the Mastering Your Small Business Finances PROFIT LAB. There is no reason you need to be running your business feeling alone, especially if you are running a side hustle or are a solopreneur. You’ll have a place where you can work on your business and yourself as a business owner. When you join us in the PROFIT LAB, you get to see how other business owners are working on growing their businesses. You get to see how they increase their profits. You get to be in a community where other business owners are working towards a goal just like you are, and I’m here to help you along the way. Think about how much more difficult it is to run your business on your own and how you could feel more at ease, certain, confident, and productive when you join us in the PROFIT LAB. We have weekly business meetings and coaching so that you can ask questions about your business, get coaching or help with your business strategy exactly where you are right now in your business. It doesn’t matter if you are just getting started or you already have an existing business; I’ve been helping business owners just like you for over twenty years. They love knowing they are able to ask questions and get answers when they need them. All your questions can be confidential, so you don’t need to worry about asking questions that you feel ashamed or nervous about asking. You need to ask your questions to move your business forward. If you are tired of feeling stuck, it’s time to make a change. It is time to start your journey to a profitable business. It’s time to do something different. It’s time to start now. It starts with making a plan, so you don’t keep repeating the same mistakes you’ve made in the past. It’s about making a plan to join us in the Mastering Your Small Business Finances PROFIT LAB. In the PROFIT LAB, we’ll work together to find out what isn’t working in your business and get you on the journey to solve for what will work. You will make the changes you want to make with knowledge and understanding behind each decision. You’ll find the fastest way to unlock each foundation of your business and move your business toward success. That means your business will change. I created this program based on the needs of you, the business owner so that you’re able to benefit from all the value that is currently in the PROFIT LAB, as well as the ongoing materials I continue to add based on your needs. If you’ve worked with me before, you know that I teach in ways that are always simple, clear, and doable for any business owner. My clients are getting the help they came for, they are making decisions, and by keeping it simple, they are avoiding the overwhelm. Yes, it can be this easy. If you want to join us in the PROFIT LAB, you can go to www.FinancialAdventure.com/profit to learn more and sign up today. I will be closing the doors to the PROFIT LAB on December 31st, 2022, so If you know you need help closing out this year with your business and getting started in the new year, make sure you sign up soon. Decide right now to be proactive, and join us so that you have the help you need in these upcoming months. I created the PROFIT LAB to ensure you have the tools to create a profitable side hustle or business. When I work with my clients, they have their bookkeeping up to date, understand their financial statements, and can see exactly how profitable their business or side hustle is. We work together to see their options for generating additional sales, as well as where they could cut back on expenses or utilize the best solutions for their business. They can see the possibilities available to them so they can create a successful and profitable business. They ask questions that are holding them back and get answers when they need them. Whether you are looking to start a side hustle or business, or you are already making money with your existing business, I’d love for you to have these results and experience the same benefits when you work with me. You can either sign up for a free session with me by going to www.FinancialAdventure.com and clicking on the work with me button to schedule a consultation call, or if you are ready to jump in and get started, join us in the Mastering Your Small Business Finances PROFIT LAB. If you have a side hustle or are a solopreneur and you are struggling with getting your business started, growing your business, and generating revenues, you need to join us in the PROFIT LAB. In the PROFIT LAB, you’ll find ways to create a more profitable side hustle or business so that you can keep that additional money in your pocket. We help you make decisions, generate revenues, and create a life you can enjoy. I walk you through not only understanding the profitability of your business but also how you can create offers and increase your sales. By taking control of your business finances, you can create the profitable business you are striving for and meet the goals you’ve set to achieve. We prioritize and work on the essential tasks in your business, help you make decisions, and generate revenue while creating a work-life balance you can enjoy! Where you are right now in your side hustle journey or business is the perfect place for you to join us, and if you are ready to start, don’t let thoughts about the perfect offer, confusion about your pricing, or the fact that you are still working for an employer stop you. So, are you ready to join us? Of course you are. By taking action in your business, you’ll be sure to achieve your goals. Join us today by going to www.FinancialAdventure.com/profit. Generating revenue and increasing profits requires you to have the right mindset and accountability so that you get results. This is what we do inside the Mastering Your Small Business Finances PROFIT LAB, and it’s perfect for you if you are a solopreneur or have a side hustle and you’re ready to be more profitable in your business. As a CPA, Business Strategist, and Coach, I help business owners just like you who know it’s time to do something different because what you’ve been doing in the past isn’t getting you the results you want. We’ll make sure you understand your business finances, your next steps and follow through with the vision you have for your business so that you can truly enjoy your business.
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.
