Running a small business means wearing many hats, from overseeing operations and marketing to delivering exceptional customer service, all while keeping a close eye on finances.
However, for many small business owners, financial management can feel overwhelming or easy to push aside in the whirlwind of daily tasks. This is where financial coaching comes in.
Read MoreThe holiday season: when you’re either frantically running from store to store, scouring online sales, or on the verge of throwing in the towel and just sending everyone gift cards. (Hey, they’re useful, right?)
But what if this year could be different? What if we stopped trying to “keep up with the Joneses” and made giving all about meaning, not just money? Here’s how to bring intentionality—and a little less financial stress—back to holiday gifting.
Read MoreIt’s a scary thought: common money mistakes can jeopardize your wealth and financial health if left unchecked. But if you can identify and avoid these pitfalls, you can be smart with your money, protect your financial well-being, and work toward building a healthy and secure financial future.
Read MoreRunning a small business can feel like you’re constantly spinning in different directions. There’s always so much to do! Between managing clients, keeping up with your team, and ensuring everything is running smoothly, marketing can sometimes feel like a luxury you don’t have the budget for.
Read MoreAs fall rolls in and the leaves start changing, you might be thinking about cozy sweaters, pumpkin patches, and holiday plans. But your accountant? They’re thinking about taxes. Believe it or not, autumn is the perfect time to get ahead on tax prep, and your accountant definitely has a wishlist of things they wish you were doing now to make tax season less stressful.
From organizing paperwork to making smart financial moves, here are five things your accountant wants you to tackle before the year ends to set yourself up for a smooth tax season next year.
Read MoreMoney is one of those topics that can feel a bit tricky to discuss with your kids. How much do you share? When do you start? And how do you ensure they understand the value of a dollar without overwhelming them? Whether you’ve got a toddler just learning about the concept of “more” or a teenager eyeing that first job, talking to your kids about money is one of the most valuable lessons you can teach them.
Read MoreEmployees are the backbone of any business—they’re the driving force behind a business’ operations and long-term success. They’re trusted individuals who are skilled, creative, and dedicated, enabling a business to forge ahead, innovate, and grow.
As a small business owner, you know that the hiring process—knowing how, when, and who to hire—is a critical part of your business. Building the right workforce, at the right time, can strengthen the productivity and performance of your business, and ultimately help you to achieve your vision and goals.
Renovating your home can be an exciting yet daunting task. Should you channel your inner HGTV star and tackle it yourself, or is it wiser to call in the cavalry of seasoned professionals? Whether you’re eyeing a kitchen overhaul or just sprucing up the bathroom, making the right choice can save you time, money, and a heap of frustration.
Read MoreJust like life, businesses also go through phases that are influenced by various internal and external factors. Understanding these phases can be key to the sustained success and longevity of your business. Whether your business is in a coasting phase, growth phase, or pause phase, each phase serves a purpose in moving your business forward.
By recognizing and managing these phases, and moving intentionally through them, you can make the most of each phase and help to grow and evolve a successful, thriving business.
Read MoreI recently had a heartfelt conversation with a friend who, with tears in her eyes, shared a significant milestone in her life. For the first time ever, she managed to fund her family’s vacation without resorting to debt.
In previous years, she had been caught in a vicious cycle of racking up credit card debt to fund their trips, only to spend months paying it off just in time for the next vacation.
As I joined in celebrating this meaningful moment with my friend, it prompted a moment of reflection on my own journey and the profound impact of managing finances wisely.
Read MoreA personal emergency fund can act as a savings buffer and help you face the unexpected without taking a significant financial hit. “Saving for a rainy day” and having emergency savings can give you peace of mind and offer financial security through uncertain times.
Just as unforeseen events can disrupt your personal finances, your business can also face unpredictable challenges that threaten its financial stability. It’s crucial to have an emergency fund for your business to help provide a layer of financial security — expecting the unexpected and being financially prepared can help your business survive any challenges that come your way.
Read MoreHere’s a tip that we often forget in the rush leading up to the end of the school year:
Plan ahead for the expenses of summer.
You’ll likely be thankful you did — preparing and planning can help you enjoy the season and focus on fun instead of finances. By creating a budget and saving early for certain seasonal expenses, you can make the most of your summer without the stress and worries of overspending.
Read MoreIf you find yourself frantically slashing expenses, racking up debt on lines of credit, or worse, dipping into your personal funds just to stay afloat during the off-season, it's time for an intervention. Your finances shouldn't be at the mercy of fleeting trends. You need to take control and implement smarter planning.
Read MoreWe've probably all been there at some point in our lives — staring at those bills, trying to figure out how the heck we ended up drowning in debt again. Whether it's unexpected emergencies, lack of planning, or just a case of the "I want it" taking over, debt can quickly spiral into a vicious cycle that can leave you feeling suffocated.
If this is you — it's time to break free from those debt shackles and reclaim your financial freedom.
Read MoreOne of the most important (but often overlooked) aspects of running your company is addressing the question, “How much should I pay myself?” It’s crucial to pay yourself regularly to maintain financial stability. The whole point of starting a business is typically to create financial freedom and security for yourself and your family. But it’s easy to get caught up in the day-to-day operations and forget to take care of your own paycheck.
Read MoreKnowing where to stash your cash can feel a bit like choosing your fighter in a video game. Each option comes with its own set of powers, weaknesses, and strategies to maximize your wealth. Some of you might be thinking, "Any old bank account will do, right?" Let me stop you right there. Not all bank accounts are created equal — they come in different shapes and sizes, each with its own set of pros and cons.
Let’s look at some of the most common bank accounts. Getting your cash situated in the right spot can maximize returns, minimize fees, and generally make your money work harder for you.
Let's unpack these traits and see how to incorporate them into your financial journey.
Read MoreSimilar to other decisions you’ve had to make on your own, retirement is another crucial financial topic you must diligently explore to set you and your business up for success.
Small business retirement plans vary in terms of structure, benefits, and suitability, depending on the size of your business and team, your financial situation, and your goals. Choosing the right one for your business can feel daunting, but the sooner you decide which plan is right for you, the better handle you’ll have on your retirement planning.
Read MoreIn their book "The Next Millionaire Next Door," Dr. Thomas Stanley and his daughter, Dr. Sarah Stanley Fallaw, delve into the lives of self-made millionaires, revealing some surprising truths. These "millionaires next door" aren't living flashy lifestyles. Instead, they are hard-working people who share six common behavioral traits (“wealth factors”) that paved the path to their financial success.
Let's unpack these traits and see how to incorporate them into your financial journey.
Read MoreIt's that time of year again — tax season is fast approaching! As a successful small business owner, we know you’re busy enough without stressing about gathering receipts, tallying up expenses, and rushing to file your taxes on time.
But fear not! With a few organizational tips and tricks in place throughout the year, you can reduce your tax prep stress and breeze through tax time next year.
Read MoreYou're working hard to build wealth and lead a purposeful life where you have the freedom to make financial decisions that align with your values (no easy feat!). But with a proper plan, those decisions aren't confined to your lifetime.
How is that possible? Estate planning. It's a term you might have heard before, but if you never got to the bottom of what it is, why it's so important, and how you can use it to secure your financial legacy—now is your time to find out!
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