150: Keep Your Business Simple Whether You Are Starting A Business Or Side Hustle, A Solopreneur
150: Keep Your Business Simple Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
Keeping your business simple doesn’t mean you can’t meet the revenue or profit goals you have for your business. It also doesn’t mean that you can’t create a product or service that will meet the needs your ideal customer is looking for. It’s actually the exact opposite. When you keep your business simple by implementing effective operations, you can obtain greater efficiency and success. This impacts not only how you are doing business and the results you see in your financial statements, but it will also be seen by your customers when they are looking at your business for help in your area of expertise. In today’s podcast episode, I’m covering how you can keep your business simple by focusing on streamlined processes and effective bookkeeping. 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, keeping your business simple will help you stay in control and make running your business a breeze…
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Show Notes:
Keeping your business simple doesn’t mean you can’t meet the revenue or profit goals you have for your business. It also doesn’t mean that you can’t create a product or service that will meet the needs your ideal customer is looking for. It’s actually the exact opposite. When you keep your business simple by implementing effective operations, you can obtain greater efficiency and success. This impacts not only how you are doing business and the results you see in your financial statements, but it will also be seen by your customers when they are looking at your business for help in your area of expertise. In today’s podcast episode, I’m covering how you can keep your business simple by focusing on streamlined processes and effective bookkeeping. 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, keeping your business simple will help you stay in control and make running your business a breeze…
Welcome Back…Whether you are a solopreneur or you have a team, you most likely find yourself juggling many hats. You may be working on marketing one minute and customer service the next. Or you may be working on your product or service and then need to pivot to how you can best deliver it to meet your customers' needs. Keeping things simple doesn’t mean you are sacrificing quality; it’s about finding the most efficient ways to get things done without being overly complex. Today I want to talk about three areas where you can simplify your business so that you can work more efficiently in your business. These are a few of the top areas I work with my clients on, and they are able to see a huge improvement in the impact on the quality of their life when it comes to their business. While I am going over these areas, think about your business and how you could make even the slightest change, and how much of an impact this could make on your life.
First, let’s talk about streamlining processes. When you simplify your business processes, it can save you time and reduce stress. When you are strategizing about streamlining processes, you can start by mapping out your workflows. Take some time to map out your business processes from your customer inquiries all the way through your order fulfillment or delivery of service. Identify any bottlenecks or redundant steps that can be eliminated or streamlined. Then add in automation. Leverage technology whenever you can to automate repetitive tasks. Think about your email marketing, social media scheduling, and even invoicing. All of these can be automated, which will free up your time for more critical tasks. When you are using tools and software, make sure you are choosing ones that are user-friendly and that they fit your needs. When you jump into complex software, it may have more features, but it will often add unnecessary complications or even potentially cause you not to utilize it. Have you ever purchased something you thought would take care of a problem only to see how complicated it would be, so you never even used it for the intent you originally purchased it for? When you keep it simple, you are much more apt to dive into it. There’s something about a short learning curve when you want to implement a new program in your business that gets you motivated.
Next, I want to talk about effective bookkeeping. Keeping your finances organized and up to date is crucial for the success of any business, especially when you are running your business as a solopreneur because you don’t have anyone on your team to whom you can delegate this task to. One of the best ways to keep your business finances simplified is to make sure that you are separating your business and your personal finances. To do this, make sure that you have a separate business bank account. If you are using a credit card for your business, make sure you also have a separate business credit card. Having separate business accounts will allow you to only have to track your business transactions. When you incorporate your personal transactions, you will need to record all of these as well so that you can reconcile your accounts. By eliminating your personal transactions, you’ll reduce the time you need to record your transactions, and your business finances will be much cleaner, giving you a more accurate picture of how your business is actually doing financially. Try to dedicate a regular time that you will do your bookkeeping and update your financial records. This could be daily, weekly, or even monthly, depending on your business volume. Consistency prevents the buildup of tasks and ensures you always have the most up-to-date and accurate records. By embracing a computerized bookkeeping system, it will help automate tasks like expense tracking, invoicing, and generating financial reports. This reduces manual errors and keeps your records up-to-date. Many business owners have their financial records showing real-time data because they are utilizing bank feeds and other solutions that are available now in most computerized software solutions. I highly recommend using either QuickBooks Desktop or QuickBooks Online to do your bookkeeping. It is pretty easy to set up, and when you begin recording your information, you’ll see how it can simplify your bookkeeping processes.
Lastly, I want to cover some essential tips for you as a business owner yourself to help reduce the overwhelm you may be feeling in your business. One of the main things I see my clients doing is spreading themselves thin over all of their business needs. When you can focus on tasks that directly contribute to your business growth and customer satisfaction, you start to be more clear about what is most important in your business. Whenever you have a task to do, ask yourself how it is going to help your business. How is it going to generate revenues in your business? Then, let go of any tasks that don’t align with these priorities or see if they can be delegated. This is one of the main reasons I believe it is so important to set your goals. If you don’t know what your goals are, it will be hard to know where you should be focusing your time. If you are a solopreneur and don’t have a team whom you can rely on to delegate tasks, you may want to think about outsourcing. When you can’t do everything, you can start identifying tasks that can be outsourced. Some of the first things to outsource may be graphic design, marketing, bookkeeping, or administrative tasks. Virtual Assistants can be a lifesaver for your business, even if you just find a way to save a few hours every week so that you can focus on higher-priority tasks or tasks that allow you to utilize your own strengths. Make sure that you are setting clear boundaries when it comes to your business. To avoid burnout, you can set clear work hours and boundaries so that you can still enjoy your personal life. You want to ensure you have time set aside for your personal life and prevent your work from taking over your whole life. So many of my clients are working towards obtaining a work-life balance that they are able to enjoy. This takes a lot of work, and when you set boundaries, you are able to integrate your business and your personal life to complement each other while helping you reach your goals as well as a successful business.
Keeping your business simple through streamlined processes and effective bookkeeping doesn’t mean that you are cutting corners; it’s about finding the most efficient way to run your business without unnecessary complexity. When you are able to keep your business simple, you should achieve a smoother, more successful journey for your business. I want you to take a minute and answer this question. What if your business thrived on simplicity? What impact would simplicity have on your life? If you feel like your business is struggling with complexity and you want to incorporate simplicity so that you can relieve the stress, anxiety, or overwhelm, you are currently feeling; I’m here to help. Having an accountant and certified life coach like me can provide you with valuable insights and ideas to help you simplify your business, which enables you to go back to enjoying your business like you thought you would when you first started it. I work with business owners and accountants to create the actionable steps they need to take to ultimately achieve their goals while getting relief from the stress and overwhelm they feel from the pressure of owning a business, deadlines, and the workload they face every day. If you are struggling with this as well and would like some help developing a solution, help strengthen and maintain your emotional health, increase your well-being, create a more positive, happy, and joyful life, set and achieve your goals, and manage your relationships, I’d love for you to join me in my Balance Life Coaching program so that you can live a more purposeful life. Each week we meet privately, one-on-one, and you get to bring whatever is on your mind on any given week. It could be your highest priority you want to work on, whatever you want more of in your life, or if there is something that is weighing on you heavily that you need coaching on, and we’ll work through it together. Having a certified life coach like me helping you through all of this allows you to feel so seen and cared for, and the results are amazing. Everyone benefits when they work with a certified life coach. After every call, you feel energized, and you know exactly what to do for the week to come, and relief knowing we will meet again the next week to go over anything that comes up after the call. You’ll gain self-awareness while you take each step toward your goals. The investment in this program is an easy yes for you. I’ve set this program up in the most supportive way for you. If you are ready to join the Balance Life Coaching program, you can go to www.FinancialAdventure.com and click on the work with me button. You’ll see the link to join as well as additional information about the program. Sign up now. There are limited spots available for this program due to the one-on-one aspect, and it does sell out. If the payment link is gone, you can get on my waitlist to join the program when additional spots are available. I help people get results and live a more joyful life. I coach everybody on everything. Everyone has something they want in their lives, and I help them get it. I know this is something you’ve been waiting for. I’ve been asked by many of my listeners to create this exact program. The faster you get access to the program, the quicker you’ll see the possibilities available to you. I also have a risk-free guarantee. I believe so strongly that everyone benefits from coaching that when you sign up today, if for any reason you are not satisfied with your first session, you can send us an email, and we’ll refund you immediately. Are you ready to enjoy your life now? Why would you want to wait? Make this investment for yourself. Take the journey with me…make it happen for yourself. Ask yourself why you need this program in your life right now. Are you ready to make bigger, bolder, stronger life goals? I’m looking forward to meeting with you soon and digging deeper to see where you currently are in your business or career and start creating actionable steps so that you can reach your vision and goals for the future, not only in your business or career but also in your personal life. I’m ready to work with you, see all of your successes, and watch you thrive in your business or career while creating your best work-life balance. I’ll post links to this and other valuable resources for business owners and accountants where you are listening to this podcast.
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.
