Welcome to the 2015 Financial Year. Now is the perfect time to take a good hard look at how your numbers stack up, how you track them and setting up systems to make sure you hit all your financial goals this year.
I love that we have a New Year and a New Financial Year, it’s like 2 opportunities for fixing F ups and moving on.
In this post, I’m not going to be explaining the differences between accrual and cash accounting (you can learn all the accounting terms you need in The Academy
, or making you set KPI’s for the year (I’ll do that another week).
What I am going to do is give you a few questions to answer:-
What financial reports are you going to look at?
Who is going to prepare these reports and do the data entry?
How often are you going to look at them?
What software will you use for your accounting?
How up to date will it be?
How are you going to communicate with your bookkeeper / accountant?
How much do you want to make this year?
How is that broken up with your products and services?
For the whole month of July, we’re going to be talking money. It’s so important, no matter how passionate you are about your business – the numbers matter more!!!!
I encourage you to download my 2015 Finance Part 1 doc
and get cracking on what you want to be achieving this year.
Respect the numbers and they will respect you!!!!
Yep, that’s right. I turned 40 on Sunday 15th of June, 2014. Did the world cave in? No. Do I feel any different? No. Do I suddenly have more grey hair and laugh lines? Well, maybe a couple. So what was the big change? Apart from the big dent in my bank account from having such a fabulous party – the big change is questions.
What do I mean? Well, I’ve always been a ‘think too much’ kinda gal, but it’s really really different for me at the moment. It’s like I’ve brought the life auditors in (got to love an audit) and let them take control – now I’m just looking at the reporting as it’s come back to me.
The beauty of having your own business, is you do get to follow you heart, make changes and concentrate on the stuff you love. But what if you get confused and distracted along the way? It’s been like that for me sometimes. You know using your skills, talents and passions but following some bright shiny objects because it’s what everyone else seems to be doing – and it works for them, so it should for you, right? Bullshit. Doesn’t always work like that.
Get to the questions Samantha?
- If I only had 2 months to live, what work would I be doing, if any?
- If I won lotto, what work would I be doing, if any?
- If we could live anywhere in the world, where would it be?
- What does my perfect day / week / month / year look like?
- If I could have any number / type of team around me – what would that look like?
- Am I happy with my current weight (50kgs down since 38) and if not what improvements can I make?
- What social stuff am I missing in my life, and how can I add it back in?
- What ‘heart singing moments’ am I missing in my life, and how can I add them back in?
- What changes do I need to make to be in a better financial position for the next birthday (and better each year)?
- Are there any draining / toxic situations or people in my life that I need to remove myself from?
That was a good start. Some of them are pretty stock standard questions in the Life Coaching world – but they are so worth a look at.
WOW you should see some of the answers. Some people think us Business Coaches have all our shit together – sorry, we have problems too. It’s like looking at movie stars and thinking they always look like that. Smoke and Mirrors baby.
This is a work in progress for me – and over the next few weeks I’ll share some (maybe all) of my answers with you.
I encourage you, not to wait till your next big birthday to ask yourself these questions. Do it now!!!!!