“If you’ve had weaknesses, it’s just time to fix them up!”
— Melissa Houston.
July 1st marks the middle of the year for businesses, if your fiscal year marks the calendar year. I’d love to wish you a happy kick-off for your Q3, but I’d also like to remind you to check in on the financial performance of your business. This episode is your Q2 check-in — I outline all the steps that you can take right now to keep your business healthy and on the right track!
Too many business owners rely solely on the fact that sales are coming in to let them feel good about the way that their business is running. But just because you’re selling, doesn’t mean that your finances are in good shape! These same owners tend to ignore their numbers, only to discover an unpleasant or even shocking surprise later on.
If you’re not checking your numbers on a regular basis, then the truth is that you really do NOT know how your business is doing — and as a business owner, that should make you very nervous!
In addition to checking in with your numbers, I also recommend that you develop your financial plan if you don’t have one already (check out episode 48 of this podcast for more information) and ensure that your bookkeeping and bank reconciliations are up-to-date until June 30th.
Want the rest of your check-in list? You’ll have to listen to the episode!
In this episode, you’ll discover:
>> Your complete Q2 check-in list to get you ready for the rest of the fiscal year
>> Why you should schedule a ‘money date’ with yourself and your numbers — and how often you should do it
>> The expensive consequences that can affect your business when you don’t pay attention to your finances
00:44 Happy holidays!; 02:39 The Business Society; 06:18 Listener shout-outs; 08:22 Check in your numbers regularly; 09:44 What happens when you avoid it; 10:43 Your financial plan; 11:30 Performance assessment; 14:13 Pay yourself; 16:57 Financial goals for the year.
Business Society Podcast Episode 48 - Creating A Strong And Savvy Financial Plan For Your Business https://www.buzzsprout.com/1358377/8605861
How Do I Pay Myself From My Small Business? https://melissahoustoncpa.lpages.co/how-do-i-pay-myself-from-my-small-business
The Business Society: https://thebusinesssociety.co
5-Step Roadmap to Biz Finance Freedom: https://melissa-houston-cpa-cga.mykajabi.com/5-step-roadmap-to-biz-finance-freedom
The 20 Minute Money Method: https://melissa-houston-cpa-cga.mykajabi.com/the-20-minute-money-method
Confident Cash: https://melissa-houston-cpa-cga.mykajabi.com/confident-cash
Personal Finance Money Method: https://melissa-houston-cpa-cga.mykajabi.com/person-finance-money-method