TIPSY TUESDAY | 5 Moves To Boss Up Your Business Cashflow
Ready to pay less taxes, see increases in your bank account?
5 Moves To Boss Up Your Business Cashflow
Ready to pay less taxes, see increases in your bank account? I am sure you are, after all who wouldn’t be ready???
Hands up....who remembers when they were learning to drive? I do remember!! In particular I was afraid when big vehicles like trucks or trailers came near me.. I would start looking at them instead of keeping my eyes on the road. My instructor would keep reminding me to keep my eyes on the road and be focussed. Those instructions I kept with me as I learnt to drive in the snow, on ice and through the mountains. Keep focussed. Keep focussed.
Focus can be hard especially when there are so many things to keep your eyes on.
In a business it’s no different...what will make your business successful and not another failure or statistic?
The number one reason businesses fail is lack of paying attention to their financial numbers, not paying attention to warning signs, red lights and key indicators. Cash flow warning signs are often ignored or not understood due to lack of understanding the financial numbers of your business.
Like your body your business cannot survive without cash flow. Cash flow is the lifeblood of your business. It is similar to the oxygen needed for the body to survive.
You have to train yourself as a business owner/entrepreneur to keep your eyes on the key things that will make your business succeed.. you have to keep your eyes on the financial numbers and cashflow to ensure your business is cash positive and recession proof.
Your business is needed by your community, country and the world at large. It is needed to impact lives around your community and the wider world and of course allow you to live your legacy now.
Why would you risk losing your business by not paying attention to the key thing to ensure it survives? Why would you not be proactive/innovate when it relates to your business?
Let’s look at 5 ways to BOSS up Your business cashflow:
1) KEEP YOUR BOOKS, FINANCIAL RECORDS CURRENT- You cannot afford to have late entries, late recordings and delays in your business when it comes to producing your financial numbers. You are at a greater risk of fraud and losing money from strategies that are not working when your financial records are not updated timely.
2) UNDERSTAND THE FLOW OF CASH – Know the various sources of your cash inflows and cash outflows, know their timing - when will they impact your real life bank account. The flow of cash is very key to making decisions in your business and help you increase cashflow.
3) CATEGORIZE YOUR BUSINESS TRANSACTIONS CORRECTLY - You will save on taxes paid and ensure tax benefits and credits are utilized accurately.
4) USE KEY METRICS -. Be positioned to stop money leaks. If you are not using "What If Analysis" to be innovative and proactive, you are not able to quickly tell if your business is en route to bankruptcy. Bankruptcy does not according to popular belief happen overnight. There are key signs that are often ignored or not understood.
5) USE CASH FORECASTS – This is a key tool to know your starting and ending position with cashflow each period. This tool is integral for any business, it sets the foundation for strategy formulation, decision making and so much more for your business.
As a bonus you will receive a session with Kirsha when you purchase the above!
As a business owner/entrepreneur you may not be physically doing these tasks however you need to ensure they are being performed by reliable experts who are able to pick up quickly on errors and other red flags to minimize the risks of your business not responding quickly or being innovative or proactive toward any issues.
The number of followers on social media, your email list and the number of likes when you post content can at times lead to your distractions about what matters in your business. While they do matter focussing on the key financial numbers will help your business to be positioned to be recession proof and cash positive.
So what will be the key thing you focus on in your business no matter what?
Submission by Kirsha Campbell, CPA, CMA “The Cashflow Maven”
When business owners find their businesses in financial chaos and are serious to take the leap to say hello to cashflow and MORE, they reach out to Kirsha Campbell “The Cashflow Maven”. A CPA/CMA, Kirsha integrates all the moving parts in your business to set up the right foundation to be recession proof, operate with reduced risk, increase cashflow, set up effective systems and procedures and so much more. Kirsha helps business owners to say goodbye to overwhelm, stress and frustration about their business results and operation.
Kirsha values continuous improvement and is sought after for her attention to details, integrity and her passion to turn businesses around. Having spent years in the corporate world, she understands key strategies that need to be adhered to ensure businesses are successful and set up to be recession proof. She also understands the need for businesses to have customized strategies that fit their particular situation.
She is deeply passionate about helping her clients and is committed to forming lasting relationships. She has a heart for her clients and is deeply committed to their businesses being set up for success and be their “go-to” second brain for their business.
She expertly steps into each relationship with her clients and is committed to create change and effective solutions in businesses recognizing the importance of looking beyond the numbers.
End of the year notes with Coach Lilly Wang
Do you like setting goals for yourself? Do you think setting resolutions, or thinking about what you want out of a new year year, at the start of the year, is important?
Do you like setting goals for yourself? Do you think setting resolutions, or thinking about what you want out of a new year year, at the start of the year, is important?
If you’re following us, you probably answered “yes” to one (or all) of the above. And yes, goal setting and planning is certainly what help us get to where we want to go.
However, what many people don’t do enough of is “wrapping things up.” This is a quantum physics tool that I use with my clients — that of wrapping things up, and of “closing the loop.”
WHO IS LILLY?
Hello, my name is Lilly, and I help people get more of what they want and what they deserve. In so doing I often call upon my quantum physics (spiritual) training, something I started about 2 decades ago. I’ve worked on different types of projects involving consulting, coaching, and teaching across the globe.
Whether on large-scale national level projects with the World Health Organization, or with small businesses and solopreneurs wanting to grow more and live out their passion more, I absolutely love seeing people ask for help and reaching more of their potential.
LET‘S GET STARTED!
Okay, so why do I advise people to “close the loop?” Read on to get a glimpse of what coaching looks like!
I advise clients to practice different tools to “close the loop” on many things in their lives so that they can “complete” things, so that they can then “begin” other things with better and stronger energy.
This can be explained at the mental level, and understood on the emotional level.
For example, if you are experiencing miscommunication or crossed wires with a colleague or business partner, does that unspoken tension feel good, or bad? Probably bad, right? So would having a conversation about it help? Yes, if the conversation can be done in an open and respectful space, it often would, wouldn’t it?
This scenario represents what I call “closing the loop” and resolving an incomplete issue. By closing the loop here, we find a sense of “completion,” so to speak, to a problem that was previously causing tension, and one that may have been affecting team morale and productivity.
And so it is with other things in our lives. We all make promises to others, and set goals for ourselves. But we feel a sense of tension when we don’t take the necessary steps toward them, don’t we? So whether it’s in our personal lives or our business and professional lives, it stands to reason that the more loops we close, the less tension we feel, and thus the more energy and positive emotions we might have remaining, for actually creating the life we want.
I help clients with more complex and more personal situations, and often use tailored tools and systems that apply to their situation at that time, which I can’t exactly do with you as I don’t quite know what your goals are and what it is that you’re going through right now. But here are 3 very simple things I could advise you on doing that would really help in closing the loop and finding a sense of completion and peace. Ready?
Sit in a quiet, comfortable space. If you’re musically inclined, you can put something soft or inspiring on.
Grab a journal and write the following down. I’ve attached quantum physics coaching (explanations) next to each of the 3 steps to help explain why these activities are so powerful.
1. 10 things for which you can thank and praise yourself.
Examples of this might look like “I am thankful I finished that scary email today.” Or “I feel really proud of myself for having put myself out there and reaching out to so and so last week.”
Why? Because most people feel too much tension about their broken promises to themselves, so we need to start flipping the script on this and acknowledging the good that we do!
2. Next, 4-5 things for which you can forgive yourself.
Examples of this might look like “I forgive myself for not having been as kind as I would have liked to have been to so and so, when such and such happened this year.” Or “I forgive myself for not having asked for help when I needed it this past fall.”
Why? Because when most people dream of what they want in life, they’re the first ones to stop themselves from going after them. They might cite that one time 10 years ago that they didn’t follow through, or those 50,000 times in the past year during which they didn’t give it their all.
I’m not trying to depress you here, but rather, to point out how common it is for so many of us to stop ourselves in the track when goal setting. Learn the steps to self-forgiveness, and you’ll see yourself becoming more and more open to the things you do want, and do deserve.
3. And lastly, 10 things for which you can say gratitude.
Examples of this might look like “I am so thankful for the kindness and patience that so and so showed me last week when we were on zoom.” Or “I am so grateful that I have 2 great mentors in my life.”
Why? Because giving true and genuine thanks is one of the most powerful ways of raising our energetic vibration. And why would we want to raise our energetic vibration? Because all the good things we want in life - fulfilment, self-actualization, love, self love, joy, and so on, exist on a high energetic vibration.
Do this once before the end of the year, and once again at the start of the year if you can. Let me know how it goes and how it helped you.
CONCLUSION
Closing the loop and finding a sense of completion help us let the past stay in the past, thus creating an energetic space in which we can actually start dreaming of our vision and goals again.
If you’ve heard me speak or if you work with me, you’ve probably heard me say that throughout my career in consulting and coaching, I’ve never seen a lack of talent being an issue. We as humans are all so full of talent and potential. But what I’ve seen is an ability to follow-through, to believe in ourselves, and to continue and persevere when things get tough (and things will always get tough).
Most people don’t allow themselves to dream. Let’s flip that script, and begin to dream about the life we want again, beginning with these tools.
Thank you for reading this today. :) If you have any questions, please don’t hesitate to reach out and ask!
With love,
Lilly
CONNECT WITH LILLY
If this helped you today, consider following Lilly here:
Instagram: @thelillywang
Facebook Group: https://www.facebook.com/groups/successeveryday
Or booking with her at https://calendly.com/lillystrategy
UP NEXT:
Lilly and YEG Boss Babes are creating a “Working from Home with Kids Survival Guide” launching in early 2021 and we are so excited! This is a fun, supportive, and coaching-oriented digital download!
Happy Holidays from Lilly Wang and YEG Boss Babes!
How To Pivot And Step Into A New Power
Hi, you. My name is Miranda Horvath, and I ask you to join me in this shared picturesque memory to describe a feeling many of us may be feeling at this moment.
Hi, you. My name is Miranda Horvath, and I ask you to join me in this shared picturesque memory to describe a feeling many of us may be feeling at this moment. Picture yourself on a small secluded paradise beach, wearing your favourite sunnies. You can’t believe your own beautiful eyes as you look out at the water and see monumental waves crash towards the shore. You can’t believe the waves can reach so far towards you as they wash past your feet and ankles. The bright sun shines down dancing beams of warmth across your face and chest, the soft breeze flows through your body. You simply cannot resist looking up at the sky to smile, and gently close your eyes to feel Mother Earth’s comforting, natural gifts. You decide that the sun is shining, and the water is clear, and you want to go for a swim.
@sharshar_jj
You lift up your sandy toes and step towards the water, gingerly at first, and then you run right into the biggest, baddest wave you can find! You can barely contain your excitement! Your body cuts through the first wave like soft warm butter, you outstretch your arms, kick your feet and start to swim towards the majestic oceanscape. This is pure unadulterated bliss.
You start to get a little far, so you decide it’s time to turn back. That wave ahead looks daunting, majestic, and just a little too close. Suddenly, you’re turned upside down and you have no idea how it happened so fast. You try to scream for help as you realize, panicked, you’re being swept towards the point of no return, but all that comes out are the last bubbles of your life supply floating towards the surface, and you can’t regain control.
The more you fight, and struggle, the deeper you sink. You have no idea what to do, you’re sinking deeper, the weight of the water closes in on your chest as it becomes heavy, tight, and you fight so hard to deny your reality - can nobody really save me? Is there not one other soul that can see my fight, or hear my screams? I thought I was such a great swimmer, how did this happen? What about my family?
It’s too late as you can no longer see the sun beams, there is no warmth now. Only cold and frightening despair as you sink deeper and deeper down, never to be seen, or found.
This is what powerlessness feels like.
How can we find the strength to swim up from the depths, against the waves of overwhelm, and swim back to the safety and stability of land, when we have no oxygen, and zero strength? I want to talk about how to redirect, and reclaim your almighty power when you are feeling utter powerlessness.
I hope you could relate to how I have felt when you picture yourself in that same oceanscape. It’s okay, I understand. I got you. If you or someone you care about is in a mental state of drowning and overwhelm, just know you and we can hop on that surfboard, climb on up and make that wave your bitch.
I am a registered massage therapist in Edmonton and an online holistic personal practice consultant. I started my company, MassageByMir from the ground up. I turned nothing into something, and I nurture this beautiful life I’ve created for myself every single day, tending to it and nourishing it and being grateful for it and feeling the power from it because it is my passion.
@sharshar_jj
But now that’s gone, and I couldn’t get up for several days. I know some people didn’t feel the same mental torture that I did, and I’m really happy about that. But I did. I write in my journal twice a day to be able to record my process as emotionally and accurately as possible. I’ve looked back on all that raw personal data and created this personal culmination. I hope you get from it exactly what you need. Every day is a new process, and I’m finding a way to not only survive, and maintain my life’s priorities, but actually thrive in a new creative direction, my online business is growing, I’m learning so much every day and soak up every single second and every single lesson that I can. I’m so grateful for every moment despite all the hardships that came with this, in a worldwide trauma. I want that for you. If reading this could help and makes that even %1 more possible, then keep reading.
1. Prioritize the essentials before you give yourself time to fall apart. Start by examining what needs to be addressed immediately, and what can wait. If you have immediate bills due, pay them or if you are short on funds, research, get on the web, ask your family and community or make some calls and figure out how to get your bill payments extended, reduce or alternate paid monthly subscriptions for free ones, suspend services and come up with a game plan. You can do this!! But first…
2. Give yourself time to fall apart. Nap all day. Eat comfort food. Call everyone, and get the tissues. You’re allowed to stay in this sad zone for as long as you need, and give yourself permission to fully feel those feels. You can’t predict how much time you will give to this part of the process, but it will be unique and memorable to you and just remember that someday, this will all be in our past.
3. All we can do is give our best and work with the tools that we have at the time. Forgive yourself, allow forgiveness for others. Are you here for me? Cuz babe, I’m here for you. I forgive you for being stressed or sad or scared or for reacting any way that you may. Of course this is not limitless but give your beautiful self time to relax into your body and get reacquainted with yourself.
4. Love yourself. No matter what. Self explanatory.
5. Look inward and reclaim your power, beauties. The way I think about it is, it’s happening anyway, we can’t control it so let’s just steel ourselves and prepare to have to be badasses for awhile - let’s get our bearings, accept where we are, and decide to make the best of this, no matter what, hell or high water.
6. Start small and grow. Do the things that bring you joy, and if you’re not ready to go full on, start small. Instead of a grand canvas painting, start with a beautiful colouring book or just any expressive activity you can think of that will help you with your mental health and self love. Work on purposeful, soulful projects and if they’re productive or helpful, that’s great too! You never know where it will lead you, so be open to changes and opportunities.
7. Remember to continue to reach out for help whenever you need. Reach out and connect stronger with your community now than ever and be there for someone else if they need you to lend an ear too. If you can’t, that’s okay too. Take care of you and take care of others when you have more in your cup.
8. Finally...be respectful - no judgement here. No slamming, shaming or blaming. Let’s be chill, okay?
I hope my story identifies with you, powerhouse babes and I can’t wait to see us look back on this with as much gratitude and fullness as we can, to lighten ourselves up for opportunities and greater connection in our future with the ones we love. Swim back to shore and I’m waiting here for you with open arms.
Basically, keep being badass. I hope to hear from you and chat with you! Can we connect please?
Miranda Horvath
MassageByMir
www.massagebymirconsulting.com
