Are you Running Your Business Blindfolded?
Want to know the number one thing I preach about business and money?
Know Your Numbers!
I see it countless times. You have a passion to help others and a new coaching certification. You are in Business! Time is spent building a website, growing your list, engaging on social media, and launching offers. After all, that is what it takes to run a business and make sales, right?
But, if you don’t handle the Business side of things - You.Don’t.Have.A.Business!
And you are running your business blindfolded.
And what do I mean by the Business side of your business? This is the actual process of setting up your business legally and setting up your money tracking systems.
Deciding on a business legal structure and getting your IRS EIN
Licensing with your state and city; getting a business license
Getting insurance
Setting up a business checking and savings account
Pick a bookkeeping system and set it up, either with spreadsheets or an online software
Getting your systems and processes set up for billing, collecting money, and paying your expenses
Know the best way to do all of this so your CPA and tax bill stays low
Yep, all the boring and scary stuff!
And, most important - Know Your Numbers.
If you are ignoring your bookkeeping or letting your CPA do it when you have your taxes done after the year is over, you are missing out on really being the true CEO and CFO of your own business. If you don’t manage and track your money responsibly and run your business legally, you are setting yourself up for failure.
They say Ignorance is bliss. But not when it comes to your money!You can do all the money mindset work and money story healing there is. But unless you take the reigns of the actual money management, you can’t make wise business decisions. You don’t know how much money are you really making or making plans to add expenses wisely.
With good systems that are easy to use and that you update regularly, you are able to really know your numbers.
What is your Income? How much money have you collected from your Sales?
What have you spent? How much money are you spending to run your business?
What is your bottom line, or Net Income? How much money have you really made?
How much money do you have in the bank?
How much money do you owe on credit cards, loans, or outstanding bills
How much money do your clients owe you and when are they going to pay you?
How much money are you going to have to pay in taxes and are you prepared for that?
That’s a lot of numbers to know!
Ready to take your head out of the sand? Ready to get your business running and be the CFO of your company?
This is the perfect time of year to tackle this! Ready.Set.GO!
What do you need to do? Start with making a list of what’s missing. Use the bullet points above to see what part of your business finance management or business set up is missing. Tackle that list one thing at a time. Find the best way to make this fun and easy.
Because if it is easy and fun, you are excited to do it.
Make Money Fun! It’s time to take off that blindfold.
~Jenn
Xoxo
P.S. Here are a few ways I can help you with your money story when you are ready.
Master Your Money Work
* Be a Money Maven 3-month program ~ everything you need to truly master your money! HERE
Money Story Work
* Heal your Money Story with the Akashic Records - 1-hour sessions HERE
* 6-week deep dive into your Money Stories and how to use the Akashic Records to heal HERE
Let’s connect!
FB Group - Money Maven’s Creating Money Magic - HERE
FB Page - Jenn Wells Money Maven - HERE
Book a Connection Call to work 1:1 with me - HERE
Be sure to visit my blog for more Money Maven tips! HERE