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*** Top 1% Globally Ranked Podcast *** ❓Do you feel like you’re constantly putting out fires instead of creating an organized, streamlined, automated business? ❓Do you struggle to stay organized and on top of your to-do list, overwhelmed and bogged down by administrative tasks? ❓Are you ready to scale your business but need help knowing where to start implementing systems? ❓Would you like to work less and make more money? ❓Do you have ADHD or struggle to stay focused? My podcast is the perfect resource if you answered yes to any of these questions. I’m here to help you organize, systemize, and streamline your life coach business so you can focus on what really matters: helping your clients. As a 15-year veteran professional organizer and certified life coach, I understand the unique challenges of being an entrepreneur, running a successful business, and serving clients. I’ve helped hundreds of people get organized. However, organizing my own business was more challenging than I thought. I had to figure out what worked, how to create processes, what software programs to use, how to track clients and leads, schedule social media consistently, and so much more. My journey hasn’t always been easy. I’ve faced my own share of obstacles and setbacks, and I know how difficult it can be to navigate the ups and downs of entrepreneurship, keep things organized, and create systems and procedures, ALL while doing everything else in my business. That’s why I created this podcast: to share the strategies, tools, and mindset shifts that have helped me build a strong foundation in my own business and help other life coach clients overcome these challenges and succeed on their own terms. Through my podcast, you’ll learn how to: 🌟 Streamline your business processes and automate repetitive tasks 🌟 Build a solid foundation for scaling and growth 🌟 Develop a healthy, organized mindset that supports your success 🌟 Prioritize and create an organized calendar so you can work less and make more money 🌟 Reach more people and make a bigger impact 🌟 Organize your office, paper, digital assets, Canva, and anything else to help you. Whether you’re just starting or have had your coaching business for years, my podcast has something for you. If you are diagnosed with ADHD or feel like you’re missing the organizing gene, I can help. If you love all things organizing, join me to learn more! So, if you’re ready to take your life coach business to the next level, join me on this journey. Let’s organize, systemize, and streamline to become Organized Coaches! ✅ FREE Workshop: 3 Simple Steps to an Organized (and Profitable) Coaching Business → https://simplysquaredaway.com/5files ✅ Learn → https://simplysquaredaway.com/ ✅ Organized Coach Academy → http://simplysquaredaway.com/oca ✅ Instagram → https://www.instagram.com/tracyhoth/
Episodes
Tuesday Dec 26, 2023
Tuesday Dec 26, 2023
Are your business finances the neglected stepchild?
My guest this week, Carla Moats, and I discuss the common neglect of finances in the coaching space, where revenue takes precedence, and profit becomes an afterthought. Carla emphasizes the importance of financial knowledge for small business owners, especially in coaching, to overcome the fear and intimidation associated with numbers.
Do you want to improve your business's financial management and increase profitability? Learn how to achieve better financial control and organize your business finances for increased success and stability.
Empower your small business's financial future as Carla dismantles the profit paradox, guiding you through the crucial steps to separate, track, and prioritize your revenue to maximize your company's success.
In this episode...
- Carla stresses the importance of tracking revenue and expenses monthly and highlights the common oversight in the coaching space where many are unaware of their profit until year-end tax consultations.
- Carla suggests various tools for financial tracking, ranging from QuickBooks and Xero for larger businesses to spreadsheets, Wave, YNAB and HoneyBook for simpler needs but ultimately emphasizes the need for a system that records both income and expenses for accurate financial insights.
- We discuss the significance of setting profit goals for coaches and small business owners and encourage everyone to take an intentional approach to spending and investments, emphasizing the practice of deciding upfront how much profit to take.
- Carla advises business owners to assess their financial health regularly, considering factors like profit, cash flow, and personal income by implementing a monthly finance hour, either self-led or with a bookkeeper, to review financial statements and understand key financial metrics to guide their strategic planning.
- She recommends identifying 5 to 7 KPIs that directly impact revenue and expenses, tailored to the specific business model, highlighting the value of tracking KPIs alongside financial metrics to gain a comprehensive view of business performance.
- We conclude the episode by discussing the importance of having a mindset shift toward intentional spending and investment decisions.
Carla is a fractional CFO and financial and money coach for female coaches and other service business owners who are making money, but not keeping enough. She brings her 30+ years of finance and accounting experience to her clients, helping them understand their numbers and become profitable so they can scale profitably and still have the money to live the lifestyle they dream of.
Don't wait for your tax guy to tell you how much you're making. You should know every month how much money came in, how much money went out. - Carla Moats
The key moments in this episode are:
00:00 - Neglecting Business Finances
07:53 - Organizing Business Finances
10:39 - Financial Tracking Tools
14:37 - Hiring a Bookkeeper and Understanding Financial Statements
16:51 - Setting Profit Goals and Paying Yourself
18:54 - Profit First Principle and Intentional Investments
23:23 - Intentional Spending and Personal Financial Goals
27:29 - Business Expenses and Costs
29:08 - Key Performance Indicators (KPIs)
30:20 - Importance of Bookkeeping
Click here for the full transcript, notes, links, and more.
Ready to organize your business and your digital files? Watch my free on-demand training to learn the ONLY 5 files you need!
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