Who do you pay first when you pay bills? Profit Strategist, Sally Doyle, outlines habits to start and approaches to take as you gain more control over your money life. We are prone to make messes.
We begin our conversation with how Sally asserted self-leadership and reclaimed her life. We quickly jump into Parkinson’s Law with a toothpaste analogy and some awesome strategies for working more effectively with your bookkeeper. This also includes getting the most out of Quickbooks and finding out what the IRS loves. The 2019 SBA definition of small business is businesses that generate a maximum of $750,000 (less than 100 employees) to $38.5M per year in annual revenues (with up to 1,500 employees). The numbers vary according to industry. Find out why Sally recommends small business owners hire remote bookkeepers. DOWNLOAD
WeMentor Self-Leadership Activation Exercises
After listening, do the following three WeMentor Self-Leadership Exercises:
- Take this risk: View financial documentation as your friend, as Sally suggests. Schedule time each week to work on your finances. And, start paying yourself first, if you aren’t already. Try it out for several months. See what happens.
- Self-Compassion Exercise: Your values are in who you pay, how much you pay them, and what kinds of things you invest in and spend your money on. Identify your core values and adjust your money decisions to attune with your values.
- Gratitude and Appreciation Challenge: Take time to acknowledge your bookkeeper. Notice all of the things she/he is doing right. Write a special note of appreciation to acknowledge her/his work ethic and the financial documentation they keep track of and the patience they exercise in keeping you invested in understanding the numbers, working through your money beliefs with you, your rollercoaster of emotions, and tracking the ebb and flow of money.
Resources to Assert Self-Leadership Mastery
- Get One-On-One Mentoring during your transition. It is much easier to change when you know what is happening in your inner and outer world. Paul Turek of Turek Consulting LLC says, “Nancy is a well-connected leadership development icon in this market… she’s got an interesting perspective on identifying and addressing leadership opportunities within oneself that is timely in our diverse and mobile workforce these days.”
- Subscribe to this podcast. Get more meaningful conversations and useable tips every week.
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- Strategies to Grow Your Business
- Monthly Bookkeeping
- Payroll Services
- Back Office Strategies and Support
Resources
- Parkinson’s Law
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz (2017)
- SBA Definition of Small Business
- Small Business Definition
- A small business is a privately owned company in the legal form of a corporation, partnership, or sole proprietorship. The SBA defines a small business as one that typically makes a maximum of $750,000 – $38.5 million in annual revenue and has less than 100 – 1,500 employees, depending on industry. A majority of businesses are small businesses (99.7%).
Podcast Guest Mentor
About Sally Doyle: Absolute Business Solutions, LLC is rooted in Sally’s life-long entrepreneurial spirit, combined with over twenty years of diversified experience. The result is a unique blend of innovative thinking and financial service knowledge. Her expertise is derived from overseeing the financial reporting of associations, investment property companies, assisted living communities, bank holding companies, and multi-faceted private client work. It also includes experience in payroll and AR/AP, while effectively communicating with clients and colleagues. Confidentiality of client information has always been a cornerstone of her work.
After spending two decades supporting small businesses as an employee, she has taken her passion for accuracy in numbers to her own company where she is committed to creating value for business owners; partnering with them to make calculated decisions for increased profitability and growth.
In addition to earning her Bachelor of Arts in business and communication from the University of Minnesota, she has a Certified QuickBooks ProAdvisor and a Pure Bookkeeping Systems Licensee.
Episode 208 Profit Strategies
Author: Nancy A. Meyer, M.A.
Nancy A. Meyer, M.A., is a seasoned entrepreneurial leader, business and life mentor/coach/teacher, podcaster, author, and certified mindfulness yoga and meditation integrator (she integrates those skill sets into everything). Nancy’s compassionate and collaborative approach reinforces resilience while maintaining accountable conversations supporting how you redefine your lead while redesigning your business. Nancy calls this “Dual Innovation Leadership.” Nancy founded WeMentor, inc. in 1992 to change the leadership in our country by providing emerging and existing business owners with mentoring in Dual Innovation Leadership. She has mentored thousands and is eager to work with you! Assert self-leadership and get started today! Clients say, “Nancy is a compelling, engaging, and ‘decipher the trees from the forest’ kind of mentor, speaker, and leader. A dedicated entrepreneurial leader and mentor who role models what she preaches. Her style and candor enrich the content she delivers and the results clients experience.” Nancy accepts people where they are while inspiring them to breakthrough into new dimensions: As an Entrepreneurial Leader (Innovator), As a Competent Business Owner (Practitioner) As a Mentor (Role Model) As a Spiritual Being and Self-Leadership Master! Start by subscribing to WeMentor Mondays with Nancy PODCAST. Join your peers and...
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