kingdomfinances

Creating Revenue Goals for your Business.

Tue, 10 Dec 2024 14:00:08 GMT

Pointers for Creating Revenue Goals for Your Business

We are always creating, evaluating and adjusting the goals of our businesses. We especially think about these goals in preparation for the next year. I will specifically be talking about revenue goals.

Have you recently spent some time with your vision for your business and really got grounded in that? I believe this helps me to really be focused and concentrate on the bigger why when I am creating these revenue goals. What is the biggest why to your business? What makes you show up in the hard of the business? Now that you have this in your focus, what do you need to create in 2025 to fulfill that why to the greatest level possible in 2025? There will always be greater levels but what levels are we planning for in 2025? What financial goals do you need to create to operate at those goals?

Let me give you an example. One of my why’s behind my business is to enable women to provide for their family from the comfort of their home and on their time. I have an employee that has about 15 hours a week of work from my business. I know that she desires to be between 35 and 40 hours a week. Knowing this the question is “what goals do I need to create to be able to provide her with the desired number of hours?”. She needs 20 more hours a week. Our client’s work is calculated on hours in a month. So, I need to calculate how many hours of work I need to add in a month to be able to give her 20 hours per week? I know what the average hours per client is per month. This will tell me about how many clients I need to have a goal to add to my company just to get her to the desired hours per week. Knowing my average hourly rate also allows me to calculate my goal for monthly revenue.

As I am a service-based business, this is how I can create goals that have a reason to them and aren’t just a number that I have pulled out of my boots. I find when my goals have a reason behind them, I can show up and believe in my own goals better thus boosting my own morale and ability to accomplish the goals.

Cowgirl Jo

Reviewing 2024

Tue, 26 Nov 2024 16:39:28 GMT

Look at 2024 in preparation for 2025

Howdy all.

It’s that time of year again. Have you looked back at 2024 in preparation for 2025? Have you evaluated the things that worked well in 2024? What in 2024 served you well and you desire more in your business? Are there some things that you want to let go of and not take along into 2025? How are your processes? What is working well in your processes? What needs a revamping? How about your calendar? Are there any things that you allowed onto your calendar that you didn’t serve your vision and need to be removed or not allowed in 2025? Is there something on your calendar that you really value that you want more of in 2025? Your calendar will tell you a lot about your priorities in both business and personal life.

I look at both my business life and my personal life with these questions. I am going to share a few of my discoveries with you.

Let’s start with my business. In 2024 I had some pretty big things happening in my personal life and I allowed those to pull me from my business and wasn’t as present and focused on my business. While this is what I chose in 2024, some consciously and some subconsciously, for 2025 I am choosing to be more focused on my business. I know that my business is a part of my divine calling, and I don’t want to be in delay because I am off lollygagging elsewhere instead of being present and focused. To safeguard my time in 2025, I have determined that I will allow very few things that aren’t business into my business hours. This is a thought that I need to keep front and center as I plan my days and weeks. While it may not always be easy, I know that the result will be what I desire in my business.

In the last few months, I have set a “work routine” setting on my phone. This setting only allows phone calls and messages from contacts to ring my phone. All other notifications are shut off. This helps to keep me focused. As the scam/robot calls are at an all-time high I got so frustrated with being interrupted all the time with the ring of my phone for it to just be nothing that needed my attention. I realized how much time these interruptions were costing me as they broke my train of thought. I will be keeping this habit. My focus has increased greatly as I am not picking up my phone to see who is calling and then seeing other notifications that then take a half hour of my time.

Now for my personal life. I made the discovery that I was bored as I asked questions and dug into this, I realized that I wasn’t walking in my purpose. This shook me a bit. I know my calling. I know what my life purpose is. However, I was not actively pursuing it. I have determined the next steps for pursuing this and I will be actively moving forward and filling my “empty” time with these things in 2025 and beyond.

I have picked up journaling again. This is the way that I process life, find answers and inspire myself. The clarity that journaling brings me is imperative to me walking in my fullness. I will continue this and making it even more important in my daily routines.

I challenge you to look at all aspects of your life and really ask the questions and evaluate what is working well and what needs to change. All habits and routines can be changed. It won’t be easy but it is very possible. I wish you all the best as you consciously make the choices to create the life that you desire.

Cowgirl Jo

6 Tips For Branding 2025's Numbers

Tue, 26 Nov 2024 00:05:55 GMT

Lets create that 2025 Budget

We’ve already established the importance of creating budgets. Now we are going to look at the actual process of creating a budget. We have got 6 tips for you.

1. Use 2024 actual numbers as a starting point. Using current actual numbers helps you to see any trends etc that are happening in your business. It gives you a real time base. From here you will adjust things based on percentages etc.

2. Determine your revenue goal. This is a very important number. This number is what will help to create a lot of other numbers in the budget. I have another blog that asks questions to help you think through what this number should be. Basically its very important to have a reason why you have that revenue goal not just a number that you pull from your boots.

3. Adjust Costs of Goods Numbers. As costs of goods numbers are directly related to the revenue sales, You will want to increase this number by the same percentage that the revenue goals have been increased. If your revenue goal is 25% higher than 2024’s actuals then your Cost of Goods numbers should also be a 25% increase from 2024’s actual numbers.

4. Adjust Salary/Wage Numbers. Take a look at each employees salary/wage and determine what increases will be given in the year. You also will need to determine if the increased revenue will call for additional employees. If additional employees are needed those salaries/wages will need to be added in so that your budget is prepared for the increase.

5. Adjust Overhead Numbers. Overhead numbers normally fall into 2 categories. Fixed and Variable. Let’s talk fixed first. Fixed overhead Expenses are numbers like rent, mortgage, utilities, subscriptions etc. These are the expenses that don’t increase or decrease because of increased or decreased revenue. You rent is the same no matter how much revenue you can create in the rented space. You will want to make sure and enter any increases that you know are coming for these items. Example, most commercial rent leases have a built-in rent increase. For the variable expenses are numbers like advertising, office expenses, auto expenses, etc. These numbers will vary as the revenue varies. You will want to increase these numbers with a similar percentage as the revenue percentage increase.

6. Plan for Profit. One of the reasons we are in business is to create a profit so that we are then able to fulfill the dreams that have been placed inside us. Your budget should have a 10% to 25% profit. If you have calculated all your numbers and you don’t have this as a profit, then you need to look hard at your expenses and determine where you are able to decrease spending. Or you may need to reevaluate your revenue goal.

I trust this gives you a starting point for creating your 2025 budget.

Brand Your Numbers

Mon, 22 May 2023 13:11:23 GMT

Budgeting

Let's talk budget. Come on don’t groan, rather smile. A budget is a tool that gives direction to the moneys in your business. In essence it tells the dollars where they belong. The budget gets a lot of bad rap as its often viewed as restricting and annoying. Let flip the script. A budget is freeing and empowering.

Let's say you have a personal budget. In this budget you assign $50 to a weekly date breakfast. These are dollars that you know you create and this is how you are deciding ahead of time to use them. Now each week as you are planning your weekly date breakfast you know what you have available to spend. You know that by spending this $50 on a date with your significant other you are not hindering the mortgage from being paid of the electric bill being covered. You know that you have the $50 to spend however you would like on that date. Now your creativity can flow with out any hindrance from nagging thoughts around that $50.

The same works in a business. Having an advertising budget empowers you to know if you have the funds for a full page spread in a special edition of the advertisement you normally advertise in. By the budget giving the permission for the extra advertisement you can focus your efforts on creating that outstanding ad that will create a great ROI rather than be stressing about how you are going to pay for this expenses. If the budget doesn’t allow for the extra advertisement, you can say no resting in the fact that you made the best decision for the financial stability of your company.

In the wide west where cowgirls ride, cattle are branded so everyone knows to whom they belong. As a smart business owner, you will want to brand your numbers, so that you know where they belong.

Own those numbers and tell them who they belong to.

And remember when you see the brand icon around these parts you are about to be imparted some wisdom surrounding budgeting.

Cowgirl Jo

Saddle Your Prices

Mon, 08 May 2023 18:33:52 GMT

The science behind your pricing

Your prices are what carry you in your business, allowing you to continue providing the goods or service to your client. We like to think of the science of pricing as the saddles on the workhorse of your business. Just as any good cowgirl knows her saddle and each part that needs to be in place before riding, so you need to know the science behind your pricing. You need to know that your prices cover your expenses and create a profit for you. The investment your clients make to work with you or purchase your product is not just a number you pull out of your boots or hat. This is a number with a reason.

Here are some questions that will help you to think through your pricing structure.

1. Do you know what percentage of your selling price is the cost of creating the goods or service?

2. Do you know what amount is your pay as the business owner?

3. What are your overhead costs per item?

4. Have you calculated the percentage to set aside to pay your taxes?

5. Do you know what percentage is the REAL profit?

Here is what a breakdown of this could look like. Let's say I have a massage therapy clinic. The charge for an hour massage is $85.

1.The massage therapist gets paid $50 per hour of massage and supplies are $5. This means your cost of creating that massage is 65% of the price.

2. As the business owner you know you need to count $10 per hour massage for your pay.

3. Overhead is $10 per hour massage

4. This leaves you with a profit of $10 per hour massage, meaning you need to set aside $2 per hour massage for taxes.

5. This leaves you with $8 per hour massage as profit which would be 9.4% profit.

While the numbers above are fictitious numbers it give you an idea how to answer the questions to determine if the science of your pricing is correct.

Now "saddle those prices" and ride this business to the best year yet. And remember when you see the saddle icon around these parts you are about to be imparted some wisdom surrounding the pricing of your commodity.

Cowgirl Jo

Bookkeeping Time Savers

Mon, 10 Apr 2023 16:22:03 GMT

Timesavers for Bookkeeping

If bookkeeping seems repetitious and cumbersome to you, this was written just for you. While it is true that there is an aspect of accounting that can seem annoyingly repetitious there definitely are time savers and "shortcuts" that make it much more manageable and even fun. Here are my top time savers

Create sales receipts rather than invoices and payments. If the product or service is paid for at the time of purchase there is no need to enter an invoice and then enter a payment. Simply enter a sales receipt. This accounts for both the sale and the payment. When creating the sales receipt make sure and select the correct account that you want the payment to go to. Most times this will be undeposited funds.
Create refund receipts rather than a credit memo and payment. Much like the sales receipt. The refund receipt does 2 things at the same time by accounting for the refunded items and actually processing the moneys refunded.
Number your chart of accounts. Chart account numbers usually have 4 digits. The first number always designates the type of account it is. See our resources page for an example chart of accounts. Numbering your chart of accounts does several things. For a lot of people a number is easier to remember than the exact way that an account may have been entered creating speed in the data entry process. Numbering helps to also create order in the chart of accounts making an Income statement neater and easier to read
Sync POS systems to your accounting software. This will greatly decrease data entry and the possibility of errors. In todays world of technology there is almost always a way to connect platforms. If the platforms don't sync in their own capacity explore the options given by third party platforms like Zapier.

These are a few ways to help insure your bookkeeping is efficient and accurate. Thank you for allowing me to share these pointers with you. As always its an honor to speak into you business

~~ Cowgirl Jo

Financial Procedure Accountability

Wed, 19 Oct 2022 13:46:36 GMT

How to create accountability in your business financial procedures.

Let’s talk about accountability in your business practices. As your business grows you inevitably will need to add people to your team. This is a healthy part of business. For a team to be efficient and function at its highest level of effectiveness, procedures and processes need to be developed and put into place. A very integral part of these operating processes and procedures is accountability, especially in your financial procedures. No matter how much you may trust someone, you need to have accountability in place. Accountability protects EVERYONE involved. Yes, accountability protects you as the business owner, but it also protects the employee or contractor that is serving your business.

How do I put accountability into place you ask. Here are my top ways to add that accountability to your financial procedures in no particular order.

1. Have an electronic platform for record keeping. Most bookkeeping platforms keep an audit of every time a transaction is edited including date time and user. This is helpful in the event of records being tampered with.

2. Every person that has access to the digital records has their own user. This serves several purposes. If things are being done incorrectly its easy to tell who needs the training. Also, each person’s digital fingerprints are left each time a transaction is entered, edited, or deleted.

3. Every person that needs access to bank accounts has their own user and password. In today’s world of technology and ease of banking, it could become easy to get sloppy with who signs in how. Even if your bank charges a small fee per user, its worth it for the “fingerprint” trail that follows. Your bank can tell you what user authorized a money transfer or sent a check etc. for each transaction, in the case of suspicious activity.

4. Get a separate credit card for each person that needs buying power. Again, the credit card keeps track of what card makes each transaction. This creates accountability and helps the bookkeeping person to know who to ask questions if there is a missing receipt.

5. The persons that receive, count and deposit cash should be different than the persons who reconcile the cash receipts and the amount deposited.

6. The person entering bills and cutting the checks should be different than the person responsible for signing the checks. Signing power of checks really should only be held by owners, or CFO’s.

As an accountant I build relationships with my clients, I earn their trust. Even having earned their trust I REQUIRE these accountability procedures to be in place. I do this to continue to build trust, protect my client, and protect myself.

If you realize that you need to implement accountability in your financial procedures, RUN don’t walk. Evaluate the current procedures and determine where to create the check points, create the checkpoints and then present them to your team. When presenting to your team, inspire them first. Explain how this protects them even more than it protects you. This is for their ease of mind. Most people will appreciate having these accountability checks in place.

Investing in Yourself

Wed, 31 Aug 2022 22:23:34 GMT

Choosing to Invest in yourself is smart

Investing in one’s self is important, especially as a business owner. I have been on quite a journey the last 5 years as I started and am growing my business. By sharing a few of my favorite ways to invest into myself I hope to inspire you to invest in yourself and become the best that you can possibly be, living out your purpose in life.

Hiring a Coach. In June 2021 I hire Coach Ed as my business coach. In the last year I have learnt so many things. We have worked thru, conquered and shifted mindsets, business practices, habits, client opportunities, sales, and the list goes on. Coach Ed is a beside you, in the trenches with you kind of coach. I know that the growth of my business is largely a result of putting in the hard word and partnering with Coach Ed. If you are looking for a coach with wisdom, experience and training Ed is the coach. You can follow him on Instagram @ Truforth for lots of wisdom nuggets and empowering words.

Choosing relationships and connections. We are created for fellowship. Choosing to build relationships and spend time with the people that are closest to me brings me a rejuvenation and refreshing. I have many levels of friendship. There is family, friends, business colleagues and mentors to name a few. I intentional plan time in every week for connection and relationship. It could be a coffee date with a girlfriend, a date with the significant other or a phone call with a sister.

Daily Quiet Time. Starting my day off with what I call quiet time sets the tone for my day. Quiet time happens before I let the world into my world. This means so social media scrolling, news surfing or emails and messages beforehand. I have learnt that when I take the time to invest in myself and set the intention for my day before starting the day that I show up as the person that I was created to be. My morning quiet time includes reading, playing worship music, praying, meditation, affirmations, Brendon Buchard’s Growth Day Fire, journaling and light exercise.

Proactive Wellness Care. I am only as strong as my physical body. I choose to invest into my over health thru chiropractic care. Dr Sonja of Lifestyle Chiropractic and Wellness adjusts me twice a month. When I first started with her, I suffered from ringing in my ears. Through her care I have been relieved of those issues. I also choose to assist my body with toxin removal thru Ionic detoxing foot soaks. You can find Dr Sonja on Instagram @ Lifestyle Chiro and Wellness These times are my relaxing time. I also invest in a massage twice a month. With all the typing etc. that I do, my muscles thank me for a massage. Heather Lu of Healing Reflection Studio gives the best deep tissue massages.

Continuing Learning. There is always more to be learnt and skills to be honed. Having a hungry attitude is a great way to stay at the forefront of your industry. There is formal education of course and that has its place. I believe that a lot can be learnt through connecting with those around me and asking lots of questions. Find those who are where you want to be and ask questions. Ask for wisdom and then put it to work. I have an inquisitive personality by nature, but I have learned how to ask questions that gather a whole host of knowledge and wisdom. Connect with people and ask lots of questions.

I hope this has inspired you to invest in yourself and become the BEST version of you so that you can live your best life.

Cowgirl Jo

What is Equity

Tue, 05 Jul 2022 22:39:38 GMT

The business owner and equity

I often have business owners asking what is equity and how does it effect them. Let me bring some clarity to this elusive and yet important subject. Equity is the business owner's or partner's investments and draws in the business. A business owner adds equity to his business multiple ways. If it is a start up, often the owner has some moneys of his own that he invests into the business. As the business gets up and running often a business owner will leave a lot of the profit in the business to help the business have capital to keep growing and operating. The amount of equity rises and falls over time. The net income (profit) at the end of the year increases the equity. Any draws that the owner or partner takes decreases the equity.

Lets look at a hypothetical scenario to illustrate how this works. Joe has a sole proprietor business. The business net income at the end of the year is $200,000. There is $150,000 in retained earnings (equity from previous years). Joe withdrew $100,000 as owners draw for the year. This gives him a remaining equity in the business of $250,000. This rolls over to the next year as retained earnings. The following year was a rough year and the business only had a profit of $50,000. However Joe withdrew $100,000 as owners draw just as he did the year before. This results in the retained earnings becoming $200,000. And this my friends is a simple illustration of how equity ebbs and flows. For tax purposes one never wants to withdraw more moneys from the business as owners draw than equity that is in the business. By doing so capital gains tax is incurred.

If you would like to have Cowgirl Jo analyze your bookkeeping and help your numbers to become simply and sexy, schedule a free consultation below

Setting Financial Goals For The New Year

Fri, 10 Dec 2021 14:08:00 GMT

Looking At Financial Goals

Let’s talk financial goals. What do you want 2022 to look like for your business? Are you desiring expansion? Do you want to double or triple your gross revenue? Or maybe you want to keep the gross revenue about the same but make better choices with how the money is spent to create a greater net income. What you want in your business is totally and completely your choice. You get to decide what you want to create and then you get to create it. The planning is a very important step in creating the business of your dreams.

There is a lot of planning that takes place over and above the financial goal planning, but that is a great place to start. Solidify in your mind what you want for a gross revenue for the year. Write it down and place it in a place that you see it daily. Keep this as a reminder of where you are going.

Break down the big goal into actionable steps. So, ask questions like “How many clients / sales do I need to make my goal?” How many leads do I need to create those clients / sales? What actions do I need to take to create those leads? Where are my potential clients hanging out?

From these questions you should then create your actionable next steps. They could look like the following. Make 10 cold calls per day. Attend 2 network meetings a week. Create a referral program for current clients. Schedule 5 speaking engagements. Follow up with leads after 1 week.

The possibilities for actionable steps are endless. Create what works for you and your business. Evaluate the actionable steps every month or quarter and determine if they are creating the desired results. If they are not, then reevaluate and pivot. Ultimately as you keep the actionable steps relevant and income producing then you will meet the goal that you have set for yourself.

Finish 2021 Strong

Fri, 26 Nov 2021 17:12:17 GMT

Let's Finish 2021 Strong

2021 is drawing to a close, however we still have time to meet goals and make 2021 an even better year. This time of year, it can be tempting to coast thru the holidays and into the new year. It’s pretty easy to think “I will go after goals in the new Year”, however I want to challenge you to finish this year strong. Let’s look at a few ways to empower yourself to finish the year feeling accomplished and on point.

1. Evaluate at the goals you set for this year. Are they all met? What can you accomplish yet this year? Are there any that you can rework so they can be accomplished this year. What action steps do you need to take to make the goals reality?

2. Look ahead into 2022. Determine what kind of year you want to create and then make a list of goals that will help to create the year you desire. Write the goals down and break them into the action steps needed to complete the goals.

3. Plan intentional time with family and friends for the Holidays. Take some very intentional time to refresh your spirit and build relationships with family. Time spent rejuvenating one’s self is always time wells spent.

4. Make wise choices during your Holidays. Keep a resemblance of your normal routine and lifestyle so that you actually can be refreshed and ready to finish strong when you come back from vacation.

5. Reflect on your year. Ask yourself some hard questions and be truly honest with yourself. What worked well this year? What needs to be done better next year? Did you spend enough time on self-growth? Evaluate your calendar. Are there things on the calendar that you don’t want on next year?

6. Remind yourself of all the accomplishments and wins from the past year. Celebrate and remind yourself that you are worthy. Let the win inspire you to create a few more wins for the year.

I hope this helps you to finish 2021 strong and empowered. You are worth the effort. You are worth the hard work and growth.

Important QuickBooks Features

kingdomfinances17@gmail.com (Joanna Martin) — Wed, 21 Jul 2021 16:52:31 GMT

Is your accounting system empowering you?

There are many different accounting systems out there. QuickBooks Online is my favorite one. If you come to me and ask me what I would recommend you to invest into for an accounting system, I will tell you hands down that QuickBooks Online is the way to go. I would love to share some of the amazing features that QBO has that empowers the user and enhances the experience.

Bank Feeds. This is my all time absolute favorite. QBO communicates with your bank or credit card company and brings in all the transactions each day. They hang out in bank feeds and wait patiently for you to enter them into you register. If you wrote the check using QBO, then QBO will find that transaction and prompt you to match it instead of adding the expense. If you use online banking then there is no fear to be had connecting your accounts as QBO uses the same security features as banks do.
Receipts Tab. With the QBO app you can snap a picture of your receipt. QBO holds it in a holding area waiting for you to attach it to an expense. It will also look for possible matches and prompt you to accept the match that QBO found. You also can set up an email to forward invoices or receipts to so that they can be attached to a transaction as well.
Rules. This one is a major time savor. All those transactions from the same place again and again can be simplified thru a rule. You create a rule that tells QBO whenever it sees a transaction that has Staples in the Bank detail to classify the transaction as an Office Expense. You can either have it create the transaction automatically or have it wait for your approval. I personally always have them wait for my approval so that I have an eye on everything that is happening.
Automation. If you have transactions that are the same ever certain time period these can be automated. This can be an invoice, bill, credit card charge, journal entry and more. These automations can be set for monthly, bi weekly, or every other month. The options are endless. You can choose to discontinue after a certain date or a certain number of occurrences. The invoices can be set to be automatically emailed. If you have a monthly membership kind of business the invoices can be created and sent without you needing to do a single thing.

These are just a few of the amazing features of QBO that save time and increase accuracy.

Why You Should Know Your Numbers

Sat, 05 Jun 2021 20:16:09 GMT

Make empowered decisions

We empower business owners to make bold confident decisions thru simple sexy bookkeeping. There are many different ways this happens but I am going to share a recent happening with you. One of my clients, we are going to call him John has been in business for 12 years with this particular business. When I came on board his only method of bookkeeping was a pen and paper. Numerous bills were paid from the cash register and what ever moneys were left in the cash register at the end of the day was seen as the gross revenue. I learned his system and took him to the world of QuickBooks, reports and excel spread sheets. We also introduced a POS system about a year after I took his books digital. As time progressed and he continued to get a better understanding of his numbers, we started seeing growth in the profit. It was small growth but it was growth. You see the POS system kept track of every penny that came in or went out. We knew how much was being given in discounts and what was being paid out of the drawer each day. Enter Covid shutdown and the need to get real savvy with business if one wanted to stay in business, especially in the hospitality and restaurant industry. Having all his numbers in front him empowered John to know where he could cut staff and how to be efficient with the help he had. As John continued understanding his numbers and making smart confident decisions based from them, the bottom line continued to keep growing. John was able to walk his business thru a pandemic with confidence. While his gross revenue numbers were lower he was able to keep his profits the same and even higher some weeks. U see the power of knowing and understanding your business numbers is monumental in leading your business with confidence. I truly am so honored to get to walk alongside business owners and empower them to make those confident decisions thru simple sexy bookkeeping.

Planning for 2021

Tue, 02 Feb 2021 15:58:58 GMT

"In 2021 I will have my finances figured out"

If you want to have your finances in order for 2021 then now is the time to start, specially if you are needing to create the procedures and protocols. It takes some time to set the procedures in place and then there is always tweaking to be done. I encourage you to do yourself a favor and get started on what you want 2021 to look like in the accounting department.

Lets look at Abby Covert's 7 steps to sense-making and apply them to your financial mess.

1. Identify your mess. As yourself "What is my mess? Do you not know if your business is making a profit? Or maybe you know your numbers, but overwhelm yourself and stress out in getting them. It could be that you know you need help to understand your numbers. Whatever the pain and mess is, identify it clearly.

2. State your Intent. What do you need to know or do? It may be to know who much profit your business is making. or it could be to have accurate numbers throughout the year so you can make empowered decisions. State it very clearly.

3. Face your reality. What is your reality? Maybe you need to purchase software for accounting or simply put to use the one you have. Maybe you have no idea how to clean up your mess. Maybe you are terrified to even attempt to clean it up. What is really going on that holds you in the mess you are in?

4. Choose a direction. Is this something you want to do your self? Do you simply need someone to train you or hold your hand? Or do you need someone to take over the finances and hand them back to you all pretty and simple?

5. Measure the distance. Take a good look at the gap between your reality and your intent. What are you doing? What do you need to do to make your intention reality?

6. Play with the structure. Establish exactly what it will take to accomplish your goals. It could be things like hire an accountant or cut expenses and increase sales. Choose one or two action steps to start with. Put them in place.

7. Prepare to adjust. What have you learnt though this process? What do you need to address differently? A business is a living organism and there is always growth and adjustments to make.

You can do this. You are capable!

What I Love Most About my Business

Wed, 15 Apr 2020 12:42:03 GMT

What I Love Most About my Business?

The really short answer to the question of what I love most about my business is my clients and numbers. You see I love a lot of aspects of my business. There is little that can beat the exhilarating feeling when I have fought with a check book register for an hour and FINALLY see the green button that says $0.00 difference. When I have worked long and hard to get that, if you are close by you will most likely hear a shout of "YES, finally, I got it." This may even be accompanied with a dance as I stretch from the cramps of staring at my screen fighting those numbers. Numbers don't lie and if things aren't holding out then something wasn't done correctly somewhere, either by me or someone else. I absolutely love the satisfaction of having cleaned it up, knowing that the numbers are all correct and portraying the true temperature of the business.

Knowing that the numbers are correct is so important to me because that gives me the basis to confidently present the numbers to the business owner. I enjoy watching the understanding on my clients faces when I present them with simple numbers that they can then make decisions from. It is so rewarding to watch the empowerment spread throughout their bodies as they realize they can now make empowered decisions. The feeling I get when helping a client understand that numbers are simple and the base for their business decisions is empowering to me and gives me so much joy.

I know that putting the numbers in a simple to understand platform is very overwhelming to many people. By simplifying the numbers and presenting them as fun and easy I am empowering businesses to grow and reach the next level. I am making the world a better person because someone else's dream is being able go forth into the world in the form of a business.

The world is a better place because I did what I was created to do and made the numbers simple and sexy for another business owner to be able to make empowered decision and do what they were created to do. It truly is a domino effect. When I show up well I empower others to show up and grow.

Permission Granted for Business Decisions during COVID19

Mon, 30 Mar 2020 16:56:23 GMT

I know that the easiest thing in this time of uncertainty is to simply react in fear to whatever is right in front of us. I want to challenge you to take some time to actually think thru the options at this time and make an intelligent decision on what to do with/ in your business as it relates to the economic results of COVID-19 While discussing business with my 3 business besties we agreed that most businesses especially small ones owned by amazing female entrepreneurs have 1 of 3 options. Rest, Pivot or Align and Refine. I am holding space for you to take the time to think and consciously choose the direction you want to take your business, not just simply react to the world around you.

Option 1. Rest.

This option is as powerful of an option as any other option. There is no weakness or anything wrong if you are choosing this option. I especially see mothers of children that are now home due to school closings considering this option. If you want to decide that your children are the most important in this season and you are able to financially rest your business, then by all means go for it. It's very important to communicate with any clients that you may have or have had of your decision to rest your business for the foreseeable future. Then by all means take care of your babies and make this a memorable time of fun and peace for them.

Option 2. Pivot.

Maybe you have been feeling unrest in your soul in relation to your business. You have been feeling that there is a change coming in your business. Now is the time to do it. Or you may need to pivot your business for the time being to be able to continue to offer a service so you can continue to make an income. Whatever the reason for the pivot, it is as simple as making the choice to pivot and then carry it out. Again communication is key to making this a smooth and profitable transition.

Option 3. Align and refine.

This is a choice to hunker down and carry on as best you can while having some extra time to work ON you business. Now is the time to make sure that your foundation is strong. Make sure that your systems are in place for an even more prosperous and growing business. Take the time to evaluate each and every aspect of your business. How does your branding look? Does it need a face lift and alignment? How is your bookkeeping and financial strategy? Do you have a clear plan for your business and how to get to those goals? Is your pricing accurate and able to carry your business far? How is your marketing? Do you have a plan for the next month and quarter? What about your business systems? Do your clients have a smooth and personal entry into your business? Are you using the amazing technology around you to its fullest? Thoroughly answer and follow thru with each of these questions and you will have the foundation you need for your business. This too shall pass and you want to be ready to keep your business grounded and growing.

I believe that communication is the absolutely MOST important thing in all of this crazy. Make sure and communicate with employees, vendors, clients or customers, bank officers and whoever else your business effects. Be open and honest.

As always your Numbers Cowgirl,

5 Tip for a Stress-Free Tax Time

Fri, 13 Mar 2020 20:38:33 GMT

Ready for a stress free tax time?

Do the words tax time cause anxiety and fear to rise up in you? I know many people really hate the idea of taxes and all the HARD (real or perceived) work that goes into preparing for them. I believe tax time can be stress free and anxiety free. Read further to find some ways to make that happen.

“Don’t put off till tomorrow what can be done today.” Make it a habit to record income and expenses on a weekly basis. It doesn't matter what method you use. It can be an accounting system, excel spreadsheet, or even a notebook. Just make sure that you keep a detailed account of income and expenses
“Technology is amazing. Allow the use of it to truly make your life simpler.” Use an accounting system to be the MOST stress free at tax time. It really doesn’t matter which one. They all have the same basic abilities and each have their pros and cons. Just pick one and then learn how to use it well.
“Routine check ups are good for more than just your physical body.” Taking a bit of time at the beginning of each month to look back over the previous month’s numbers will do several things. It will give you peace of mind that everything is taken care of and all numbers are correct and accounted for. It will help you to know what’s happening in your business. This only takes a little bit of time and creates such a peace of mind knowing you can close the door to that month’s books.
“The magic is in the details” When recording your expenses be over detailed rather than under. Account the expense to the correct category and then add a description of what it actually was. Some things are cut and dried. Rent is rent is rent. But there are other things that are beneficial to make sure you have more details. Example. Repairs and maintenance is a broad category. I would advise you to describe the work that was done or the item that was bought. Then when more details are needed they are readily available and the receipts don’t need to be dug out of the archives somewhere.
“Hire someone to do the thing that isn’t in your wheelhouse.” Do numbers actually make your eyes glaze over and your brain shut down? For some people it’s more than not liking the numbers. They really don’t understand them. If that is you, please do yourself and your tax accountant a favor and hire someone that excels in numbers and in making them pretty and simple to do the work for you. The brain space that you free by having someone else do these things for you will be more than worth the expense. In fact, I see hiring a bookkeeper as an investment.

And since I was having so much fun with these tips here is an extra tip to make your Tuesday extra Tipsy!

6. “Two things are definite in life taxes and death.” Plan for taxes in your budget. A business is for profit therefore if you truly have a business you WILL pay some taxes. Just plan for it. Then it doesn’t hurt so much!! As a business owner set aside money in a separate account for taxes and DO NOT TOUCH it except to pay taxes. Pay those quarterly taxes and get a refund just like everyone else instead of dreading the amount of money that will be owed at the end of the year.

2020 Vision

Mon, 02 Mar 2020 19:50:21 GMT

We're making some exciting changes around here and want you to be the first to know!

Jo here! I have really been digging into who I am and how to bring that into my business. I have discovered that at my core is authenticity. So, in embracing that I realized that "cowgirl" is totally who I am. It embodies me in every way. Therefore my business is getting a bit of re-brand and we are bringing in all the farm/cowgirl analogies for 2020. As we roll out services this year, we are super excited to offer what we believe are the building blocks for any successful business - in our own unique way!

We are so excited to continue offering our bookkeeping services which are the "foundation" or shall we say "land" of any good business. We offer anywhere from a simple "Homestead" package to a large sprawling "Ranch" package.

Another important thing for a cowgirl is horse power. This is how a cowgirl gets her business to the next level. We have created visionary financial strategy packages ranging from the stately "Thoroughbred" to the Whooping "Farmall Tractor". We evaluate the needs of each potential client and recommend the package that will best suite their needs and empower them to make the decisions so take their business to the next level, creating the profit they are worthy to create.

We hope that you enjoy this spin on making numbers fun and sexy as much as we have enjoyed creating it! Stay tuned to learn more.

-Jo