Aww the beautiful world of MONEY. You either love it, hate it, want to have a better relationship with it or you IGNORE IT until it creeps in on your business like WOAH.
When I grew up there was NEVER enough money for anything, I learnt quickly that MONEY was always ‘tight’. That it would always be a struggle. I am still 34 years later working through the mindset of money….and being practical without negative about it too!
I am so blessed to have this Woman to Watch feature today wth the gorgeous Lisa Marie Robinson! She is the QUEEN of money, the BOSS of support and was last years winner of our most prestigious award “The Heart of the Hello Life Academy”.
How long have you been a business owner?
Full-time in business for 2 ½ years
What would you say is your absolutely favourite thing about business?
My absolute favorite thing about business is the freedom and flexibility that I have. Being able to work the hours I Choose, being able to take time off with my girls when I want or when needed. It is the reason I started my business. I wanted the flexibility to be there for my girls without having to ask permission to take time off or have to make time up, etc. That was the reason I first started the business. Now it’s the flexibility, but it’s also the ability to help other women entrepreneurs take the chaos out of their business finances; show them what’s possible. It is truly my passion.
What would be a PERFECT day in the life of YOU?
To be honest… Perfect doesn’t exist. However, I will honestly say – I have the best days each and every day. My business allows me to travel, to meet so many other women entrepreneurs, to have the flexibility to be there for my girls. It has help me grow and be my true self and has allowed me to help so many women entrepreneurs. I am able to do so much more than I have ever been able to do. Being an entrepreneur definitely has its ups and downs and of course we all have our “bad” days, but honestly, even on the “bad” days, I still have the best Perfect “imperfect” days as I am no where stressed as I was when I worked in corporate.
3 ways you can set yourself up for success and get the chaos out of your business finances today
1) If your co-mingling your funds; stop. Open up a separate account for your business and have your business expenses and income go into that one account. This will allow you to truly see how much money you are making and what your expenses are. Also open a business savings account and once your business is making money; start putting money into that account so that come tax time you won’t be so stressed over how you will pay the taxes as you will already have it saved.
2) Keep your receipts and keep track of your expenses; you can do this if your just starting out with Quickbooks self-employed as it will sync to your business bank account and it will also track your mileage. Or if you have been in business a little while longer then try WAVE accounting as it is free; even if you decide to keep track on a spreadsheet, the key is to keep track.
3) Set up an operating budget so you can see what your monthly expenses are each month; this way you can allocate the right amount to pay those expenses, start planning for ways to invest into your business and be able to start paying yourself consistently.
What would you say if someone was thinking about building a business?
Oh my goodness it is hard to pick just one… I would say that my top tip to someone thinking about building a business is to be patient as somethings take time; building an email list, etc. it all takes time. And I would also say while building your business make sure you don’t forget about organizing your business expenses. Remember, the tree can’t grow without the roots being taken care of… Your business is the tree, the roots is the money. Organize yourself from the beginning and then as you grow you can change it – but organizing yourself now helps you be able to succeed without all the chaos.
Go ahead, find her in all the places on social media and her website here:
Being around this incredible woman is life changing not only for your money but for your energy. She has created connections with other wonderful entrepreneurs and truly keeps things sassy in her life. She soaks up the sunshine, listens to people — and loves them xo
Leave a thought below in the comments, and make sure you get our 100 ways to build an online business below (cuz it’s pretty awesome!) 👇🏻👇🏻👇🏻
My name is Megan Lockhart and I am the CEO of Hello Life Academy.
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Entrepreneurs this 3 Part video Series (and workbooks) is g going to take. your ideas and LAUNCH them