4 Ways to Prevent Loss Aversion From Affecting Your Bottom Line

As a small business owner, you know the pressure to succeed can be… heavy. And because no one else can take responsibility for your business, that burden can feel both overwhelming and isolating — especially when you depend on your business to support your family and your livelihood.

I get it! With so much on the line, it can be easy to let fear take over when it comes time to make important business decisions. But ironically, this fear can actually prevent you from reaching the success you so desire.

As it turns out, there’s a name for this sense of fear in the world of business and finance: loss aversion. Keep reading to learn 4 ways to prevent it.

Financial Literacy Month 2022: How to Save for Big Purchases in your Business

Maybe you’ve gotten the hang of planning for your monthly business expenses. Your internet bill, monthly subscriptions, and software all have a place in your budget. And each month, you pay the bills on time. You’re feeling good! You’re a business owner, and you’re taking care of business.

But then, all of a sudden, another expense shows up. The yearly fee for your website. The cost to renew your LLC. After years of reliable companionship, your computer finally breaks down.

Unlike your fixed monthly costs, these expenses don’t have a spot in your budget. They don’t have a pile of money with their name on it, waiting to be spent. So how do you efficiently plan for them?

The Ultimate Year-End Financial Checklist for Busy Small Business Owners

Remember the old adage; businesses who fail to plan, plan to fail. By completing the steps in this year-end financial checklist, you can rest easy knowing that you’re creating a plan for success. You can’t improve what you haven’t measured, and this checklist will help you measure all the right things for year-end planning and improved forecasting.

3 Ways to Immediately Increase Profits In Your Business

Both new and seasoned business owners grapple with this problem every day, so you’re not alone. And luckily, there are things you can do to increase your business profit quickly and (relatively) painlessly!

How to Pay Yourself as a Business Owner (Plus, Avoid These 3 Mistakes!)

When you take the leap from employee to business owner, one of the most important things you need to consider is how you’ll pay yourself. Yet this is one area that new (and even some seasoned) business owners continue to struggle with.

Financial Business Coach vs. Financial Advisor vs. Bookkeeper: Which One Do You Need?

Essentially, there are three different professionals who can make your life easier when it comes to your business finances (there are more, but these three are the most common):

A financial business coach
A financial advisor who serves business owners
A bookkeeper or accountant

To choose the right professional for you and your business, you need to know what each professional specializes in, the services they offer, and how they can specifically help support your business financials.

How to Create a Simple Business Budget That Doesn’t Break Your Brain

Well-done budgets can be so freeing. They can ultimately take a lot of the fear out of our finances.

Luckily, creating a budget for your business doesn’t have to be difficult or daunting. I’ve developed a simple five-step guide you can follow to create your own business budget right now and get more clarity on your business finances. Let’s get started.

What To Look For In A Business Bank To Support Your Small Business

How much should you be reinvesting back to your business? (You might be surprised)

You’ve made the leap, business is rolling in and one of the first questions usually is - “How much should I be spending on things like my website, advertising, social media, hiring experts, etc.? And also, when should I start doing that? At the beginning? After I have revenue? Take a loan? Use my savings?”

Why Profit First Works In My Business And Will Work In Yours Too

Profit First is a life changing system for any business owner. Not just some, not just new businesses or small businesses or service based businesses or owners who don’t handle money well. Profit First is literally life changing for anyone who fully implements it in their business! Why? I want to dig into that below.

5 Steps To Controlling Your Small Business's Cash Flow

When you start a business, you don’t realize the one million things that it will require of you. You simply think, I charge money for my service/product that I love and I make money! Voila!

But it doesn’t quite work that way….one of the most important things for business owners to understand and learn to manage is not just their revenue and expenses, but moreso, cash flow. So what is cash flow?

5 Impactful Steps For Small Business Owners To Survive

I posted a blog today with 8 action steps you should take for the health of your business and your personal finances, but I wanted to go to a few more details specifically for small business owners. I'm not going to beat around the bush, so here they are in no particular order!

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