Business 101

Moving Through the Sticky Parts

By | Business 101, CEO Mindset, Profit First | No Comments

Do you ever have a moment where you have a strong intention to do something, the skill, the understanding, but then things start to get sticky? You find roadblocks in odd places or you discover it was just a bit harder than you originally thought? That is what happened to me in the last couple of weeks as I recorded five implementation videos for the Profit First system. I was surprised to find the experience more rough than I imagined and I almost got stuck in areas I wasn’t expecting. This wasn’t my first video rodeo, being that I already…

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Planning for Zombies is the Creative Boost Your Business Needs

By | Business 101, CEO Mindset | No Comments

Planning for a possible Zombie Apocalypse may seem like a Halloween prank, and it may just be the freedom and fun you need in creating your business disaster recovery plan. In the past couple of years, we have witnessed plenty of natural disasters: from the wildfires in the West Coast, blizzards in the NE, and flooding in the SE – to across the world with earthquakes and hurricanes. Lives and structures have been lost; million of dollars of damages were  incurred in the “human” infrastructure: buildings, roads, power supply, phone lines, internet connections – to name a few. Any one of…

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Is Medusa Creating the Paralyzing Fear You Have About Money?

By | Accounting 101, Bookkeeping 101, Business 101, Cash Flow, CEO Mindset, Profit First | No Comments

A good tool makes every journey a little easier. That is the same for our heroine’s money journey. As we will learn, planning is an important stage for our heroine and is the key to slaying the paralytic fear often created by the black and white of our numbers and their Medusa stare. The Story As our fable continues from last week, our heroine extends her money journey into the land of cash planning. A land that our heroine has been told is ruled by a creature known as Medusa. Greek Legend tells us that by looking straight into the…

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Your Natural Tendencies is the First Stop on the Habit Train

By | Business 101, Cash Flow, CEO Mindset, Profit First | No Comments

While working with customers as they implement their own version of the Profit First system (an intentional cash flow system), the one thing that pops up is the perfectionist tendencies that kick in as we change their money habits. What I found was that just outlining a new habit process was not enough. Habits and Implementation of Profit First When a business owner chooses to work with the Profit First system, we basically tackle a bundle of habit changes. We change how money comes in, goes out, gets prioritized, and even spent. We create a habit around how we use…

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Look Behind the Scenes of Uncommonly Poor Habit Skills

By | Business 101, CEO Mindset | No Comments

Recently, I’ve been looking at habits differently than I have in the past. As I open up my awareness, the universe ended up providing me with a lot of information. Information landed in my inbox, there was a summit I listened to, even the podcasts I was choosing seemed to have a similar message and theme. More importantly, it was not only something I was thinking about it, it also came up in conversations with a variety of individuals and during my mentoring sessions with customers. When the universe is basically screaming at me to notice a trend, that’s when…

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A Money Story with Monsters, Magic, and Mindset

By | Accounting 101, Business 101, CEO Mindset, Profit First | 2 Comments

Monsters, Magic, and Mindset: A Money Story Sit back, I’m going to share a little story with you. A “once upon a time” kind of fable – full of mindset trolls and ego vampires. But don’t worry, the heroine prevails – with a sprinkling of magical dust that contains clarity and awareness! I’ll share the lesson learned (like every good fable, the lesson is the key) and even give you a peek into the origin of this not-really-a-fairy-tale. The Story A business coach was working with a business owner on pulling together the black and white of their accounting data to…

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Time to Celebrate and Take in the View at 500′

By | Accounting 101, Bookkeeping 101, Business 101, Profit First | No Comments

As we celebrate the end of 2nd quarter and get ready to calculate our Profit Distributions, it also signals time to pause and relook at our plans for the rest of the year. A chance to review our annual goals, our TAPs (intentional money use target allocations), and to give our plan that 500 foot level review. A mid-year review can be empowering and here is how I walk myself and my clients through the process. Profit First Celebration & Review Before we celebrate just a little administrative housekeeping. So let’s make sure everything has been accounted for: Close out…

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Growing Your Business? Get Out of Your Own Way

By | Business 101, CEO Mindset | No Comments

In today’s post, I’m going to dive into a lesson that explores that when you’re growing your business, there is only one word that separates success from failure. Problem Identified: Success is Continually One Step Out of Reach This lesson learned happened during the growth phase of my business. As I look back, I can easily see the strides forward I made. Being IN the moment though, it kept feeling like I was taking 10 steps forward only to take 5, 6, or even 12 steps back. Last year I realized what was missing. It wasn’t a new tool or…

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The Paper Chase

Floundering in Paper? Reasons this Happens & Survival Tips

By | Business 101, Recordkeeping 101 | No Comments

Going completely paperless for a business can be a little mind blowing and incredibly empowering at the same time – I know because I’ve been on that brain twisted journey for two years now. As of the first of June, our business is 95% paperless thanks to moving our office from commercial space with tons of extra space for storage to a much smaller office with a completely virtual team. There are a few things that I choose to move with the intention of deciding what to do with them after the move (I am publicly announcing that these items…

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Q&A Time: How to Maximize Owner’s Pay using Profit First

By | Accounting 101, Bookkeeping 101, Business 101, Cash Flow, Profit First | No Comments

For our Ask Connie series, this month our question involves using the Profit First system and paying ourselves from the Owner’s Pay account. How to maximize the amount; address how/when to pay; and why we might “steal” during the month. The Question If I am transferring money to my personal account more than twice a month, should I up my owner pay percent instead until the business is bringing in more? I admit that I am much more disciplined in my business spending than personal. I feel like “cheating” between “pay days” actually keeps me taking less than I would…

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