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Today we’re talking all about how to keep your business finances organized. Joining me today is Melissa Leon, founder of Two Sense Consulting where she helps small business owners make sense of how they are using their time and spending money. Melissa also hosts the Efficiency B podcast, and on the personal side of things, she lives in Phoenix, AZ with her husband and 3 small kiddos.
Keeping your finances organized is an important part of living an organized life.
We’ve done episodes talking about your personal finances (check out my episode with Rachel Cruze), but this is the first time we are doing an episode geared for the small business owner.
As an entrepreneur, I know first hand all of the hats needed to run a successful business. Finances can be both intimidating and overwhelming (not to mention boring) for many of us.
As someone who works with a lot of entrepreneurs, mompreneurs, and folks with a side-hustle, I was surprised to learn how many business owners aren’t looking at their P & L (profit and loss statement). Some are ashamed to admit that their financial organization strategy is limited to how much money is currently in their bank account.
If that is you, not to worry! We are not here to shame anyone. This episode is here to help give you some simple strategies to help get your business finances under control and organized.
- From understanding the difference between cash flow vs profit
- Gross income to Cost of Goods
- To how often you should be looking at your financials
We can’t all be experts in everything, so surrounding yourself with the right people who can guide you in the areas where you are unsure is a critical piece to living an organized life.
Make sure to check out the links below for everything we discussed in this episode including Melissa’s free tax prep checklist.
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