My Thoughts on Profit First
Overall my thoughts about this book are that it’s a tool that may work really well for certain business owners and I think that you can find some real help in here. If you’re familiar with and like the cash envelope system for budgeting, you might really like this approach. It’s essentially a budgeting and cash flow management system.
Paying Yourself
This question has come up a lot (as it should) so it’s time we address it here. One of the goals of your business is to make money, but how do you go about using that money for your life? Here are a few questions to help you figure that out.
Investing in your Business
Now is a great time of year to think about investing in your business. There are going to be plenty of upcoming sales this quarter (for software, digital products, and physical products) so let’s talk about how you can time it right to invest in your business at a great price.
A Fresh Start for a Strong Finish
Q4 brings the possibility of a fresh start for a strong finish. Right now, many business owners are still feeling overwhelmed and disheartened as they manage massive change in their business and personal life.
A Different Approach to Business Financials
Getting a Jump Start on Year End
Many of you just filed your 2019 taxes a few weeks ago. Hopefully it was a smooth process, but I know you may have been scrambling at the last minute to get everything together.
The Basic Monthly Close
We are nearing the end of the month so now is the time to start planning your monthly close. If you can block off some time to focus specifically on this during the first or second week of the month, you'll thank yourself later.
IRS Update re: Tax Filing Deadline and Coronavirus
This is an update to earlier this week when only the payment deadline was moved. Now the filing deadline itself is moved to July 15th!
IRS Update re: Tax Payment Deadline and Coronavirus
If you owe a payment to the IRS, you can defer up to a million dollars as an individual. And the reason why we’re doing a million dollars is that covers lots of pass-throughs and small businesses, and $10 million to corporations, interest-free and penalty-free for 90 days.
Resources for Small Businesses and Entrepreneurs during the Coronavirus Outbreak
Keeping a list of resources going here from items I've mentioned on Instagram so you can easily grab whatever you need in one go.
The Monthly Review
Each month it's an essential practice to complete a monthly review where you assess how your business performed during the prior month and what changes you can make in the current month to strengthen and grow your business.