253: Strengthening Your Business Foundation Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner
253: Strengthening Your Business Foundation 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. 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. 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.
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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