169: Stop Feeling Uneasy About Your Finances Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or
169: Stop Feeling Uneasy About Your Finances Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
Understanding your numbers and keeping up to date on your finances is key to the success of your business. When you actively keep a pulse on your business finances, you will certainly make better business decisions. If you are thinking that you are just not a numbers person, you’re not good when it comes to numbers or math, or you are afraid to make a mistake, I want to help you overcome these fears. I get it, and I know how numbers or finances are not everybody’s strength or zone of genius. I will admit, however, that I love working with numbers, and I’ve never been afraid of them, but I have other areas in my business that I don’t have those same strong strengths in, and I struggle in these areas much like I am sure you struggle with your finances, so I totally understand where you are coming from. In today’s podcast episode, I am going to help you overcome your fear of numbers and how you can let them help you succeed in your business. I’ll have solutions for what you can do if you think numbers and finances are boring or time-consuming as well. It’s okay to have these thoughts or fears, but you and I both know that when you own your own business, there are things you need to do for your business to make an impact not only on your bottom line or your income, but for your business to succeed in other areas as well. It’s time for you to break these fears or habits that may be holding you back and start this new year off in the right direction. 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 accountant, a virtual assistant or VA, or other professional; you can overcome these obstacles so that you can enjoy, yes, I said enjoy, your business and your business finances. If you are looking back at the last year and are thinking about how far behind your bookkeeping or finances are, and just how much work you need to do to catch up on your bookkeeping to get ready for the upcoming tax deadline, listen in I promise I have some solutions for you…
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Understanding your numbers and keeping up to date on your finances is key to the success of your business. When you actively keep a pulse on your business finances, you will certainly make better business decisions. If you are thinking that you are just not a numbers person, you’re not good when it comes to numbers or math, or you are afraid to make a mistake, I want to help you overcome these fears. I get it, and I know how numbers or finances are not everybody’s strength or zone of genius. I will admit, however, that I love working with numbers, and I’ve never been afraid of them, but I have other areas in my business that I don’t have those same strong strengths in, and I struggle in these areas much like I am sure you struggle with your finances, so I totally understand where you are coming from. In today’s podcast episode, I am going to help you overcome your fear of numbers and how you can let them help you succeed in your business. If you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances, or if you are doing your bookkeeping manually with an Excel spreadsheet or even a Google Document, you can use your numbers to help you understand your business finances. I’ll have solutions for what you can do if you think numbers and finances are boring or time-consuming as well. It’s okay to have these thoughts or fears, but you and I both know that when you own your own business, there are things you need to do for your business to make an impact not only on your bottom line or your income, but for your business to succeed in other areas as well. It’s time for you to break these fears or habits that may be holding you back and start this new year off in the right direction. 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 accountant, a virtual assistant or VA, or other professional; you can overcome these obstacles so that you can enjoy, yes, I said enjoy, your business and your business finances. If you are looking back at the last year and are thinking about how far behind your bookkeeping or finances are, and just how much work you need to do to catch up on your bookkeeping to get ready for the upcoming tax deadline, listen in I promise I have some solutions for you…
Welcome Back… I hear things like, “I’m not a numbers person,” “I’m afraid to make a mistake,” “I’m just not good with numbers,” “Numbers are boring,” and “Numbers are time-consuming.” Well, I am not here to tell you any different, but I do feel that what you tell yourself is what you will actually believe. What would happen if you started telling yourself that this is the year that you are going to gain control of your business finances and you are going make this the year that you understand more about what your financial statements tell you about your business? I’m not saying you need to tell yourself that you are going to gain all the knowledge you need in this one year; I’m just suggesting that you start making steps towards being in control and understanding a little more than you have in the past about your business finances. Sound like a plan? Awesome…let’s jump in.
First, to gain control of your finances, you will need to start off by making sure that your bookkeeping is up to date. I want you to be brutally honest with yourself right now. How is your bookkeeping looking for this last year? Do you only have a few things to finish up, and your books are all ready to go, or did you not even get a chance to do any of your bookkeeping yet? Maybe you are somewhere in between, and you have some of it done, but you still need to catch up on a few months yet. When you look back at your last year’s bookkeeping, this is going to give you a pretty good insight as to how you should approach gaining control of your finances. Know your boundaries. If you haven’t started your bookkeeping for the last year, you may want to find a bookkeeper who can help you get everything caught up. Let’s face it, if you haven’t had a chance in the last year to do any bookkeeping, you need some help in this area. Hiring a bookkeeper will help you get your bookkeeping in order, and if you want to take it over after everything is caught up, that is always a possibility as well. There are a lot of really good bookkeepers out there who would be happy to help you with your bookkeeping. They thrive on doing this type of work and love helping business owners ensure they have the appropriate information to make sound business decisions. I know this because I feel this way myself, and many other bookkeepers contact me with their availabilities for new clients, and I can see they share that same passion for bookkeeping. I also help them set up processes and grow their bookkeeping businesses.
On the other hand, if you have some of your bookkeeping done and you know you can get it caught up yourself, and you are ready to put a plan in place so that you can gain control of your finances, now is the time to make sure you have that plan in place. There are so many different ways you can do your bookkeeping, but the one main thing you need is to make your bookkeeping a priority for you and your business. If you still have some apprehension about numbers or doing your bookkeeping, maybe this isn’t the year that you do your bookkeeping yourself. You could always have someone help you until you overcome these fears and feel like you can make bookkeeping a priority and be confident about it.
Whether you do your own bookkeeping or you have someone else helping you with your bookkeeping, your main goal as a business owner is to use those numbers to your advantage and help you succeed in your business. I want you to think about the fears you have with your numbers or your finances. Is it that you feel like you don’t have enough information to understand what your numbers mean, or do you feel like you never did well in math, so you think you won’t do well with your finances? Think about this for a bit and find out what your actual fear is when it comes to numbers and your business finances. Once you know what your fear is, you will be much more capable of overcoming those specific fears. It is understandable that if bookkeeping and finances aren’t what you are skilled in, it can be hard, but you can overcome these difficulties. With many of the computerized software systems out there, like QuickBooks Online, you don’t even need to be fluent in math. Many of these systems take care of the math part for you. You just need to have a system in place to account for all of your money coming in and going out of your business.
Gaining control of your finances will come naturally when you have your bookkeeping up to date. The understanding part will come with looking at your numbers on a consistent basis. Since we already talked about how you can gain control of your bookkeeping, and you made up your mind if you are going to hire a bookkeeper or do it yourself, next I want to help you come up with a plan to understand your finances. I want you to set up a time to face your fears and look over your financial statements each and every month. Whether you do your own bookkeeping or you have a bookkeeper helping you, you will be able to generate your financial statements. These will include your Balance Sheet and your Profit & Loss Report, or your Income Statement. When you have these financial statements, you can start looking at how your business is doing and even make comparisons from month to month. If you get overwhelmed with all the details, you can start off by looking at the summaries of your numbers. You can always dig deeper into certain numbers to find out what they consist of when you feel more comfortable. You might want to pick just a few categories to look into, and as you get comfortable with them, you can move on to another category. If and when you have questions, I want you to talk to your bookkeeper, accountant, CPA, or tax preparer. Don’t be embarrassed, this is why we are here for you. When you ask questions, it shows us that you are actually looking at your financials and want to learn more. I always tell my clients that there is no such thing as a stupid question. If they don’t understand something, we talk about it in a way they are able to understand. Once they understand, there are normally more questions to follow, but this is how you will gain the knowledge you need to understand your business finances. The more you understand, the less you will fear your numbers. This is the goal we are working towards, so ask the questions.
If you are doing your own bookkeeping and you have a tendency to think bookkeeping is boring or time-consuming, I want you to schedule a few tasks to do each day or at least weekly. I also want you to complete these tasks the first thing every day. I totally understand what it is like to have a task on your list that you just dread doing. It is easy to put off, and you think about it all day long. Instead of wasting your energy on all these negative thoughts, I want you to put that task as your first task of the day or week and just get it done. If bookkeeping is not your favorite thing to do, but you are bound and determined to get it done for your business, make sure you do something special to reward yourself for making it a priority and getting it done. This doesn’t need to be an expensive reward, maybe you stop at your favorite coffee shop and grab a beverage to reward yourself for a job well done. Remember that falling behind or trying to catch up with your bookkeeping is much harder to do than just doing it on a consistent basis.
As a business owner, you know you need to know how your finances are impacting your business. I am proud of you for taking the initiative to get to know your finances better this year. Your numbers don’t lie. They tell you what is actually happening within your business. Understanding these numbers and eliminating your fears will build confidence and ultimately will help you make the smart business decisions which will lead to your business success. If you are looking for a bookkeeper or have any other questions, you know you can always reach out to me by going to www.FinancialAdventure.com/Contact-Us. I personally respond to all my emails, and I love helping business owners figure out solutions for their bookkeeping and watching their knowledge about their business finances grow. Imagine having a system in place where you spend less time buried in paperwork and more time doing what you love. That’s where I help my clients. They are able to have proper processes in place, understand why they are following through with these processes, and they have more peace of mind when it comes to their business. Striking a balance between the demands of running a business and maintaining a fulfilling personal life is an art; it’s about creating an environment where you can thrive and support your lifestyle. By being proactive and setting up efficient processes, you can ensure a smoother, more enjoyable year-end, and you’ll be prepared to file any necessary filings with the IRS. By working with me, you’ll change more than just your bookkeeping processes. Like many of the clients I’ve worked with, you’ll go from not knowing how to get through all the stressful situations or being unprepared to being totally in control of exactly what you are choosing to get done at the time you want to have it accomplished by, all while knowing you are doing enough and you’re able to enjoy your business and your personal life. I help clients just like you with strategy, mentorship, and coaching. When you work with me, you’ll show up much more differently than you do today, and, after all, this is what you ultimately want in your life, right? You can be stress-free in both your professional and personal life. Come join me. I have a special holiday offer available for you to work with me on a one-on-one basis from now through the end of the year for a one-time payment of $197. I know the holidays, running a business, keeping up your professional life, and enjoying your personal life can be hard. There’s a lot to accomplish in a short amount of time. You can email me at Info@FinancialAdventure.com to get this offer or email me from the www.FinancialAdventure.com website. This offer is only for this upcoming holiday season and will be going away soon. If you are listening to this podcast after the holiday season, don’t worry; I’m still here to help. When I work with clients throughout the year, they are able to reduce their stress and overwhelm, understand how to master their small business finances, develop solutions to grow their bottom line, and create a work-life balance they truly enjoy. I encourage you to take the next step by signing up for a free consultation where I’m going to teach you the first step in my process so that you can eliminate stress, overwhelm, or overworking in your professional or personal life while you continue to get done what matters so that you can live your life with joy, purpose and a more fulfilled life. Feel free to reach out to me with any questions you have; I’d love to help you on this journey. You can schedule your free consultation or sign up for a coaching session today at www.FinancialAdventure.com. As a Certified Public Accountant and Certified Life Coach, I can help you set goals and develop a plan that will allow you to lead a happier and more sustainable life in your business, career, or your personal life. I’m here to guide you through the financial aspects of your business as well as help you focus on the strategies you need to follow to reach the success you want to achieve in your professional or personal life and stay committed so that you can continue to keep pushing forward and relieve the stress, anxiety, or overwhelm you are currently feeling. Having an accountant and certified life coach like me can provide you with valuable insights and ideas to help you simplify your life, which enables you to go back to enjoying your professional and personal life. I work with business owners, accountants, and other financial professionals 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. I also have a daily coaching program where you can talk to me whenever it works best for you, 24/7, any day of the week. In either program, you get to work on your highest priority, 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 session, you feel energized, and you know exactly what to do for the day or week to come, and relief knowing we will meet again to go over anything that comes up after your session. You’ll gain self-awareness while you take each step toward your goals. The investment in either of these programs is an easy yes for you. I’ve set these programs up in the most supportive way. 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 programs. Sign up now. There are limited spots available for these programs due to the one-on-one aspect, and they do sell out. If the payment link is gone, you can get on my waitlist to join the programs when additional spots are available. I help people get results and live a more joyful life. I coach everybody on everything. I know there is something you want in your life, and I can help you get it. I know this is something you’ve been waiting for. I’ve been asked by many of my listeners to create these exact programs. 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 for the Balance Life Coaching program 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.