249: Are Your Business Finances Out Of Control Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner
249: Are Your Business Finances Out Of Control 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.
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? Come join me. 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, You can go to www.FinancialAdventure.com and click on the work with me button. Sign up now. I help people get results and live a more joyful life. I know there is something you want in your life, and I can help you get it. Are you ready to enjoy your life now? Why would you want to wait? 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.
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