Girl bosses around the world, are you ready to take control of your business finances? Having accountability and guidance can make a huge difference in achieving your financial goals.
Over the years of running a blog biz, I tried a lot of different ways to increase my business profit. Through trial and error, I’ve narrowed it down to three strategies. Here are my best strategies that have helped me increase my business profit each year.
If you haven’t been able to make yourself keep up with bookkeeping on a monthly or quarterly basis, it’s time to do so. In fact, it may be time to reach out for support.
Start by finding an accountability buddy. For me, it’s my mastermind partner. During our mastermind sessions, we will talk about business finances at least once a month. Having these chats motivates me to have my books up to date when we check in with each other.
If you aren’t a part of a mastermind group, no worries. You might also consider another business friend who you report into once you’ve finished your monthly bookkeeping.
I use to reach out to my CPA Amy Northard once a quarter when I was just starting off my business. Amy also runs a private Facebook group for networking and accountability!
2. Money Date
In addition to finding an accountability partner, schedule a money date with yourself each month. It could be the first Monday of the month where you knock out your bookkeeping and review your business’s income and expenses.
Check in with your financial goals to see if you’re on track to meet them. If you’re looking for a little kickstart to get your finances in order, join my CPA Amy Northard and other girl bosses over at Be Your Own CFO. The Be Your Own CFO program includes access to a Certified Public Accountant and a membership site. The site includes short videos and guides that will walk you through the main topics in each lesson.
You have time to review and ask questions throughout the program. Amy has a private Facebook group for check-ins, questions, and accountability!
3. Set Specific Measurable Attainable Realistic Timely (SMART) goals
Trying to get a handle on all of all your business and personal income and expenses can be overwhelming. No worries, I’m with ya.
The key is to set SMART goals for your business to help you increase business profits each quarter. Need some ideas for SMART goals?
Create a usable bookkeeping system by the end of the week in order to track all business revenue and expenses.
Interview at least three CPAs to hire a trustworthy accountant who cares about the success of your business by the end of the month.
Find an accountability partner for business support by the end of the month.
If any of the above are your goals, you may want to consider the Be Your Own CFO. Here’s why…
Bookkeeping and taxes are not optional. If you own a business, you need to understand the ins-and-outs of your business financials. Be Your Own CFO makes this easy. The ongoing membership includes instructional videos, and beautiful, downloadable guides that will walk you through the topics in an easy-to-understand format with an actionable checklist. The lessons will be continuously expanded and updated based on member feedback. As mentioned, you will receive access to a private Facebook group where you can ask questions to a CPA and small business owners like you. It’s a tax deduction! Save your receipt for the program. The course is an investment in your business. Tax deductions lower your taxable income, which puts more money in your pocket during tax season!
Bonus: Take the stress out of every tax season.
Over the years of running a blog biz, it’s not always easy to be on top of all my business finances. Especially with the constant changes in tax regulations. I was floundering my first tax season and I swore never again to put myself under that much unnecessary stress.
Since then, I’ve been working with a Certified Public Accountant. As mentioned, her name is Amy Northard and I’ve sharing all the great biz finance tips I’ve learned from her throughout my blog.
When April approaches each year, I sleep easily knowing that my CPA Amy Northard has already ensured I received the biggest tax refund possible.
Her prices are great for the amount of time and money I save each year! You can check out her latest tax and bookkeeping tips or get in touch with Amy herself here!
If you need to understand the ins-and-outs of your business financials. Bookkeeping and taxes are not optional. But you’re in luck!
Amy has saved me hours each year on business taxes and bookkeeping! If you are interested in getting support on your biz finances, schedule a free chat with Amy here!