Essential Bookkeeping Practices to Support Your Small Business (CCG Podcast #46) - Classy Career Girl

Essential Bookkeeping Practices to Support Your Small Business (CCG Podcast #46) When you are just starting a business there are a lot of tasks on your plate so your accounting can easily get put on the back burner. I know it did for me when I first started and doing my own taxes was a nightmare. That all changed when I was introduced to our guest on the podcast today who has been my bookkeeper now since 2013! Wow! I am so blessed to have met her and learn so much from her and I am excited for you to get to know Carol too. I featured her as a guest expert in my Corporate Rescue Plan program a few months back and wanted to share the group call with you on today’s podcast. So let’s dive into today’s podcast and learn more about taking care of our precious money as business owners.  Click play below or  right click here and save link as  to download or subscribe on iTunes  here on this link: If you are enjoying our podcast, please leave us a review on iTunes! It would mean the world. Thank you! Essential Bookkeeping and Financial Practices to Support Your Small Business The Definition of Bookkeeping   Bookkeeping is the practice of recording all of your transactions in a systematized way. Recording all of your income coming in and expenses going out. Then, totaling everything at the bottom. Why Must You Do It? It is required by law that you file a tax return and you must be able to back up your numbers if you are ever audited. Doing your bookkeeping  sets you up for success. You can know the details of your income and expenses and thats the starting point for planning out what you want to achieve. Knowing your numbers is the starting point for profit planning. A lot of people dread it and I like to make it a sacred practice. I want to help owners move past what is causing them to not stay on top of their books. This is a pain point for many people who are beating themselves up by it. Here are the top reasons that you probably arent getting your bookkeeping done: It takes too much time. You dont know how to do it right. You have trouble dealing with your receipts. You are not good at organizing. You dont trust the person that you hire. You have a fear of someone else seeing your numbers and knowing the truth of your business. Theres a lot of heavy stuff that can keep you from not looking at their numbers. If its not your strong suit, I recommend transforming this by creating a ritual and viewing it as a spiritual practice of loving your money so it will take care of you. The Fearless Financial Ritual: Play soothing music. Clean out your workspace. Clear out clutter. Create empty space. Put essential oils on a cloth. Light a candle and do some deep breathing. Have a blessing you say about your business that helps you get into hope and gift of what your business is to the world. How does doing your bookkeeping deliver that? Give yourself loving support as you do this power move of being a CEO who takes care of your bookkeeping. If its hard for you to do, dont stay in a stuck place. Take loving care of your business finances so that your finances can take care of you. Important Elements of a Good Bookkeeping System: You can use excel, QuickBooks, Xero, a dome book or pen and paper. You can also outsource it to a bookkeeper. You want to pick something that is going to work for you. If you dont like working on a computer, dont pick a computerized system. Pick pen and paper if you enjoy doing that. If you know you are not going to do it, then outsource it. Pick what you know will work so that you can stay committed to it. Document it. Write down who does what and when. Sometimes there is a resistance to it. I want to address this. If you have a list that says print bank statements, turn on the computer and all the stuff when you sit down to do your bookkeeping and you have time on your calendar that you are going to do it every Friday on Financial Fridays. You see it on your calendar, you get your system documented and it cuts through the resistance to doing it because your brain likes the plan. Add accountability to make sure your bookkeeping doesnt get behind. Tell someone you are going to do it on a monthly basis and ask them to keep you accountable. Its easy to do other things that you enjoy more. What a Bookkeeper Can Do: Record your income and expenses on a monthly basis from all your systems and receipts. Provide timely reports to see your profit and loss on a monthly basis. Organize your finances for your taxes. Pay your bills and invoice your customers. A Bookkeeper Wont Do: You shouldnt assume your bookkeeper is going to do financial strategy with you. You can ask him or her though. A bookkeeper isnt normally going to pay attention to your money and tell you if its going good or bad. They arent going to do that unless that is part of the services they offer. A bookkeeper is producing information and your tax preparer will take that information and prepare your tax return. Financial strategy is setting financial goals and comparing your forecast with your actuals. It is about updating the plan as you go on and mapping out action steps and providing accountability for achieving results and your goals. Financial strategy is mapping out how to get to your goals. You can do financial strategy on your own or with your coach but you cant do that unless you do your bookkeeping first. What Not Having a Bookkeeper Might Cost You: Eventually, you want to outsource this so you can do stuff that is higher value like marketing, driving sales and adding more products or services which are going to bring in more income. There is also an energy cost. If you are not doing your bookkeeping it will suck your energy. You wont feel good about it. If you are not feeling good, you might not sleep well. Thats a huge energy drain you could be using to create in your business. Theres also a cost of not using the information to manage your business. If you dont have your  bookkeeping up to date, you wont be able to see if you are making a profit or a loss or know where your sales are coming from. You also wont be able to plan out future revenues and make plans to bring in more sales. Without a bookkeeper, doing your marketing plan will be tough and so will collecting money owed to you or deciding to hire or deliver a new service. Not having a bookkeeper makes it difficult to look at where your money is going or cut back on expenses or planning to save for taxes or an emergency fund. Youll want to know how much you have on hand to plan for cash needed for future investments like a new team member or a new website. When you pay attention to your numbers, you can look ahead and plan for emergencies is a stronger position than putting out fires. Just taking care of your finances will cause your profits to increase. How to Hire a Bookkeeper: Ask friends or family members for a referral. Ask your task preparer if they know anyone. Look at communities you belong to. You might find someone who has similar values. (That is how Anna and Carol met!) 3 Things to Ask a Bookkeeper: Can you talk to or email current customers? What  are you going to do for me exactly and can you put it in writing? What services are you providing in detail and timeframes that it will be done by. What access do you have to your accounting information? How available will he or she be to you? Is this included in your price if you are paying a monthly retainer? Interview them and check in with yourself. 4 Things to Ask Yourself Before Your Hire a Bookkeeper: Here are four things to ask yourself to determine if a bookkeeper is a good fit to work with: 1. Does talking with this bookkeeper make you feel stronger or weaker? 2. Do you feel comfortable talking to them and asking them questions? 3. Do you feel like they have the time to speak with  you? 4. Do you feel like they care about you? If no to any of these, keep looking. If you keep looking, youll find the right person. How to Keep an Eye On Your Bookkeeper You also want to check on them and make sure the work is getting done and that you are protecting yourself: You dont want to give control over to one person and assume everything is getting done. Its so tempting to say you just take care of it especially if you dont want to really deal with it and look at the numbers. Make sure you stay involved and you look at the reports. Look at your bank statements and keep an eye on it. Scan it every month. This should keep you less than 10 minutes. Look at your balance sheet report. Want more? Right now Carol has a free FaceBook Group that is designed to encourage people to develop good habits and routines taking care of their business finances. It might be great for you! The link to join that is:  http://loveyournumbersnow.com/financefridays.   You can get Carols free report about how to work with a bookkeeper here. Right now Carol is giving away one free Strategic Visioning Session a month to people who are in that group so I would highly recommend doing that.

Writing a Business Plan on Resume

Writing a Business Plan on ResumeWriting a business plan on resume is a task that will help you make a great impression on your future employer. It is a skill that you need to learn in order to build up your skills as a business owner. Here are a few of the key points that you should take note of while writing a business plan on resume.In the first place, if you are going to write a business plan on resume, you should make it as interesting as possible. After all, employers use resumes as first impressions. If you want to get a job, you need to make sure that the employer sees something that he or she can use as his or her first impression of you.Secondly, you should include links in your resume that relate to your previous work experience. For example, if you have been working as a project manager before, you should mention it on your resume. You should also include all the information about your business that you are willing to share with the employer.Thirdly, you should include al l the necessary information about your business plan on resume. It is important that you include the name of the company where you are going to apply and the name of the head of the company. You should also state that you are an experienced manager in the business and you have a lot of expertise in running a business.Fourthly, when writing a business plan on resume, you should be able to provide a lot of details about your plans. You should be able to provide all the details regarding your business. The more details you provide on your resume, the better your chances of getting a job.Fifthly, writing a business plan on resume is very important. It is an essential skill that will help you increase your chances of getting a job. Therefore, you should know how to write a good business plan to resume in order to make a better impression on the employer.Sixthly, there are several key points that you should take note of when writing a business plan on resume. For example, you should state that you are ready to become a full-time employee. You should also state that you have been working as a project manager before.Finally, you should avoid any spelling errors in your resume. Employers are looking for people who can write effectively. Make sure that you do not forget any details in your resume.

Practicing Your Art

Practicing Your Art What is your art? What is it that you do to please yourself and others? That is the work you are meant to do. We all have an art. Truly, we do or we did before it was driven out of us or we forgot about it. Seth Godins book Linchpin helps define and explore this way better than I ever could. It does not ask simple assessment questions. Linchpin uses examples and asks the really big and difficult questions we should be thinking about today, whether employed or unemployed. We are all at different phases of our life. However, no matter where we are, deep down, we all want to enjoy the work we do. Having a job is more than just a means to an end or collecting a paycheck. Yes, a paycheck is incredibly important. Health insurance benefits also weigh-in as pretty important. How do we figure out what it is we will really enjoy? Oh, this is the billion dollar question. Sometimes we find out by trial and error, sometimes it requires deep introspection, sometimes it is there all along, we just need to give ourselves permission to acknowledge it. If we take down the barriers and beliefs of what a job is supposed to be, perhaps there are endless opportunities to practice our art. Are there risks? Certainly. But no one said we would be successful 100% of the time. This is also part of Godins message. As long as you are practicing your art, producing something to please yourself and others, there is satisfaction. Eventually we hope well have a hit or a masterpiece or a winner. But the goal of producing your art isnt about the grand slam or the huge success. Satisfaction comes from producing what we have a passion to produce. In the process of practicing our art, Godin believes that we can become indispensable. Being indispensable is a form of security. Some of us crave security. So, do you practice your art?

5 Financial Tips for Surviving a Start Up - CareerAlley

5 Financial Tips for Surviving a Start Up - CareerAlley We may receive compensation when you click on links to products from our partners. When looking for a new job, you might find that certain time perfect for starting your own business adventures. The initial step into starting up your own business ideas is that actual start-up, which most see as a new career as in itself. When you are starting a small business, there are sure to be some expenses required that can set you back from achieving your goals. Surviving the startup costs of a small business is a challenging task and its something that you have to be prepared for. Below, you will find 5 finance tips that you have to keep in mind as en entrepreneur or small business owner. 1 Consider short-term loans, but understand the repayment terms Short-term loans are commonly referred to as payday loans and they are a quality source of funding for any small business. Startup costs can substantial and if you dont have enough cash, a short-term loan can help. The problem with short-term loans is that they have to be repaid fairly quickly. When you are starting a business, there is an opportunity to earn that money back within the first month of opening. However, if you are not positive that your business will be profitable from the very beginning, then this may not be a risk you are willing to take. 2 Find a profitable investment and scale up One of the most effective ways to afford the startup costs of a new business is to invest. Investments can take you from low dollar amounts to high dollar amounts quicker than anything else can. The best way to invest your money is to find something profitable that you know works. This could be something related to your business, such as selling your products or services online, advertising door to door, or something similar. The point is, if you can do something to generate revenue without paying the startup costs, you can use that profit to launch your business. 3 Only spend your money on the essentials Less is more when it comes to funding the startup costs of your business. Its okay to start your business without the fanciest computers, nicest payment processing system, or most attractive website. Find ways that you can cut costs and save money by downscaling what you need to get going. 4 Outsource services to local contractors, not big brands One of the best methods Ive found to save money on business startup costs is to hire local contractors off of Craigslist for miscellaneous things that you need done. If you want to install new flooring at your business, there is sure to be a local contractor that will charge much less money for the install than a small business would. This is a great way to reduce your startup costs. 5 Consider a bank loan Bank loans are the traditional path to funding a startup. Bank loans have low interest rates and they can be repaid over a much lengthier period of time than a short-term loan requires. This makes them very affordable funding options for small businesses today. If you want to get a bank loan, be sure to compare multiple banks to one another and choose the financial institution that offers the lowest interest rate and most flexible repayment terms. Author Bio: Stevie Clapton works for FastCash.org, they provide outstanding articles on everything financial and also can provide you with persona This is a Guest post. If you would like to submit a guest post to CareerAlley, please follow these guest post guidelines. Good luck in your search. Visit me on Facebook What's next? Ready to take action? Choose the right tools to help you build your career. Looking for related topics? Find out how to find the opportunities that help you grow your best career. Subscribe and make meaningful progress on your career. It’s about time you focused on your career. Get Educated Contact Us Advertise Copyright 2020 CareerAlley. All Rights Reserved. Privacy Policy + Disclosure home popular resources subscribe search

Self-Care with me, Jess Swift Sarah Stevenson! - When I Grow Up

Self-Care with me, Jess Swift Sarah Stevenson! - When I Grow Up It was the funnest to sit down with my former client and current friend, artist retreat leader  Sarah Stevenson  to have a juicy talk on self-care with my  TDOY  co-author  Jess Swift   and I can prove it! Click Play below to hear our tips + tricks on how to bring self-care into your life sans head explosion: Cant see the video? Watch it directly at  https://vimeo.com/73901742 Sarah was sweet enough to include all the links we talked about on her blog post, so  head on over  and collect em all!

The Perfect Job

The Perfect JobWriting a Griffith University resumes for the perfect job has never been so easy. Instead of living in fear of the next meeting, candidates have the knowledge they need to show their qualifications. However, if you've never done any resume writing before, you should know that the perfect job goes to those who are able to produce a unique resume.Just because you have written your resume a hundred times before doesn't mean it will look the same or sound the same. Writing a resume that is unique and helps you stand out from other applicants gives you a head start. You'll be amazed at how much easier it is to write a strong resume with just a few tips.When it comes to using a hallmark to help you produce a special document, there are a number of them available. Some of the hallmarks include bolded paragraphs, bullet points, openers, grammar and spelling checks and more. So, what you want to do is check which one best suits your needs and then use that to help you create yo ur very own hallmark.If you're just starting out with your new hallmark, then you can work on providing all the information you need. Don't worry about it until you have successfully written out your specific resume and stand out from the crowd. After you've been able to write a powerful document, you can use the hallmarks as your guide to get things organized and your way back to creating a stunning resume.When you're looking to use the right hallmark, you want to make sure it's the most effective. If you end up using a hallmark that doesn't match your professional or personal style, then it will only take away from your professional image. Keep in mind that you're not trying to impress anyone; instead, you want to focus on being yourself so that you can stand out from the crowd. Your hallmarks will also help you apply for your first job as well. After you've learned what the hallmarks mean, you will be able to write your own resume without worry. Your writing will be flawless and you'll find it easy to break through the interview process with your fantastic resume.Writing a Griffith University resumes has never been easier thanks to all the guidance and tips you'll get. Starting now, you can work towards achieving your dream job by applying for the perfect job online.

Top Executive Resume Writing Service Bay Area Secrets

Top Executive Resume Writing Service Bay Area Secrets Executive Resume Writing Service Bay Area - What Is It? Not all the companies providing such service would create content tailored fit to the requirements of their clientele. You're a personal services business. Our services are given by professional resume writers experienced preparing resumes for a huge collection of industries, sectors and career locations. The expert writing providers know what things to leave out and what ought to be highlighted. Definitions of Executive Resume Writing Service Bay Area You must promote your executive candidacy beyond qualifications if you want to conduct a highly prosperous executive job search campaign. After the candidate is applying for many companies, he should also make definite objective for every one of them depending on the business's requirement. You wish to shine in an expert interview and prove you're the very best job candidate. The Tried and True Method for Executive Re sume Writing Service Bay Area in Step by Step Detail Job seekers must do exactly the same thing. Bearing in mind that it's not uncommon for employers to get hundreds if not thousands of applications for only one vacancy, the resume must be written with the purpose of earning a positive first impression. If you don't understand how to get going on your job search, I can provide help! A good resume is one that you may tweak in line with the requirements of the job you're applying for. LinkedIn is additionally a large part of Klaxos' business. After all, there's a great deal more to a prosperous business than sales. Ask the correct Questions Executive resume writers are excellent data miners. Finding the finest San Francisco resume writer can be difficult. Resume writing is quite critical, since it's supposed to get selected by your employer. Therefore, before you begin writing your resume, think of what it is you're attempting to reach. Resume stories do not have to be lo ng. Below you will discover a couple of lists on all the very best rated resume writing services we could find. At least, in regards to job hunting. Resume writing is a skill that's much needed in the present world, particularly if you are searching for a new job. Search for a superb executive resume writing service to assist you land your dream job. A good resume has the capability to set the employer in the hiring mindset and therefore enhance your odds of finding the job. When you are working to identify which resume writer you would like to hire, don't make the error of studying the cost only. The aim of resume objective is to raise the opportunity of getting positive response from the prospective employer. Resume writing is daunting work for people that write a resume once annually, or once a decade in some instances. It's possible you might discover people who are looking to supply a free resume writing service at a lower rate.