Business
Staying motivated as an entrepreneur and business owner can be hard, but staying motivated when it comes to your finances can be even more difficult. Today we are talking about how to stay on top of your business finances and stay motivated. Discover how knowing your numbers will increase your comfort level and make the task of doing your numbers will come with ease and comfort. I’m sharing some tips and tricks on how you can also avoid falling back into the pattern of avoiding the business financial stuff too! It’s time to get motivated and enjoy doing your business finances! What we’re talking about How To Stay On Top Of Your Business Finances Taking A Proactive Stance With Your Business Finances Creating An Accountability System To Stay On Track How To Stay On Top Of Your Business Finances In order to stay on top of your business finances, you need to take the first step in figuring out what motivates you AND works for you. The obvious answer would be regularity. The more you do it, the easier it gets. Regularity is how you feel emotionally around the task of your business finances and with it comes a sense of ease. One reason people aren’t motivated to deal with their business finances is because it can be overwhelming. It can become so overwhelming that business owners and entrepreneurs might question their career choice because of the time it takes to handle their finances. With an increase in ease there will also be more openness and willingness to take care of the tasks you need to complete. Regularity is the key! Taking A Proactive Stance With Your Business Finances One of the best ways to create ease when it comes to your business finances is to set up a system for your numbers. Utilize a template that will create a profit and loss report for you. By looking at your numbers, you will build the skills to analyze your numbers which will allow you to go from looking, observing and asking questions, to knowing the questions to ask before looking at your numbers. This is taking a proactive stance because you really understand what’s going on with your business finances. Creating An Accountability System To Stay On Track Now that you have a better grasp on how to stay motivated when it comes to your business finances, let’s talk about how you can stay motivated. You should understand what triggers your pattern of avoidance, but don’t make it a shame game or get down on yourself. Explore this with curiosity and compassion because knowing the trigger of the pattern is ultimately more important than knowing the actual pattern. Set yourself up for success by picking the best day that works for you to review your numbers. Experiment with it to see what is the best and understand your behaviors enough to be able to stop them before they start. Create accountability. You can hold yourself accountable (internal accountability) and even reward yourself with something external, such as a glass of wine. You are the person holding yourself accountable. You could alternatively opt for an external accountability option in which someone else holds you accountable. This outside person could be someone you pay, a business friend, a regular friend, or a group. The key in external accountability is to declare your intentions and follow up to ensure you are held accountable. Examples to set up for success. Pick the day that works best for you. Be willing to experiment. Understand your behaviors enough to be able to stop them before they start. Identify the type of accountability that works for you. Are you ready to hold yourself accountable for staying motivated in your business finances? LINKS MENTIONED Free Profit & Loss Template + Bookkeeping Spreadsheet www.andismiles.com/survivalkit Episode #27 What are the top 5 things business owners should be tracking? https://andismiles.com/podcasts/e27/ Episode #22 How do you overcome procrastination with your business finances? https://andismiles.com/podcasts/e22/ Episode #19: What reports do I need to look at for my business? https://andismiles.com/podcasts/e19/