3 Biggest Mistakes You are Making with Bookkeeping & How to Fix Them
Bookkeeping and intention setting. You may be wondering what does one have to do with the other?
And you may even be thinking, that you could do without the first one. Wink wink.
Recently, I had the amazing opportunity to hear Oprah speak. My biggest takeaway from her was the importance of setting an intention in business in order to realize your fullest potential.
What is your intention in business?
To make enough money to support your kids through school?
To have the freedom to explore the world?
To create a platform where you can help others live their best lives?
As creatives, many of us know the why behind our business. That’s why we are so passionate about our branding, imagery and the customer experience. Because we want our clients to understand the depth of why we do what we do.
In order for your customers to fully grasp the intention behind your business, the external and internal areas of your business must reflect your bigger why.
Let’s look at customer experience. Likely, you are passionate about delivering an excellent customer experience because you want each person to feel special. An external area of your business that reflects this intention are the welcome gifts you send to a recently engaged couple once they agree to work with you. The internal area is the time and energy you take to set up your Dubsado workflow, so that the client feels as a sense of ease when they go through your onboarding process.
The internal and external areas of your business reflect the value you place on making each client feel special.
Let’s now look at your desire to use your business to create financial freedom for your family. The external aspect of this intention is all the work you do to market your company to increase revenue. The internal aspect is the care that you take to manage the books and the time you devote to financial education.
The intention you set to create financial freedom for your family must be backed up with action. And when it comes to business, it’s not just about how much you make. It’s about how well you manage it.
Too often creatives place emphasis on the external aspects of making money and not enough attention is paid to learning how to manage it.
If you want to reach your financial goals in business, there are three steps you must take in order to better manage the money you earn.
Start with getting specific about your money goals and write them down.
Schedule a weekly money date to review your bookkeeping.
Invest in your financial education. Sign up for webinars and programs that will help you become financially savvy as a business owner.
Cheers to your success!
Danetha Doe is passionate about helping entrepreneurs increase their net-worth and self-worth, and was named a next-generation accountant by Quickbooks. To learn more about her, visit www.moneyandmimosas.com and download her free e-book, "The Money Guide for Women Who Love Luxury: How to Add $10K to Your Savings in 90 Days Without Going on a Budget."