January 25, 2022
Especially if you are just starting out and aspiring to be a small (big?) business owner. Create systems that will make make business growth, volume increase, and tax season more manageable. Separate where your revenue lands so you can easily keep up with taxable income, business expenses/write off’s, and contractor/employee payments. I’m not advocating for personal credit cards, however, a business credit card is a great way to put all your expenses in one place for easy documentation and record. And that means, no more receipts!
Set office hours and expectations around communication with both your clients and yourself. If you respond to emails at 8pm at night, your clients will expect you to be available at 8pm at night. Working in the evening happens sometimes. Use resources like boomerang for gmail to schedule emails for regular office hours. If someone sends you a text after hours, gently let them know you’ll get back to them first thing tomorrow once you get back to the office (side note, the “office” can be a coffee shop, your desk downstairs, or your couch).
Take care of yourself. Prioritize your health. After all, you’re the most important part of your business! Unhealthy you = unsustainable business. Manage your time to create space for down time, relationships, and rest. Eat properly, move your body, drink water, and GET SLEEP. Need to create some margin? Check out my post on things you can offload.
No one is planning for your retirement except you, yourself, and you. Start investing in a financial plan NOW to set you up for success when it’s time to close the doors. Finances can be the most frustrating and confusing part of navigating small business ownership. Find a financial advisor to break down the basics with you and get you on the path to preparing wisely.