I love the saying: Where your attention goes, energy flows.
We want to put our energy into the right things to get maximum results with minimum wasted time. No entrepreneurs (especially those with kiddos) can afford to be wasting a single second right now, ya know?!
Where are YOU spending the majority of your time and energy right now? Trying to keep your head above water while simultaneously running a household, growing a business, raising children, and not forgetting to feed yourself at least once a day?
Yup, me too!
I don’t know about you, but I certainly didn’t expect to be mostly quarantined well into summer and it’s thrown a bit of a kink into my routine.
If you feel this way too, you can get back on track! Today I want to share with you three steps I’ve been following this summer to help you revamp your routine and put your energy and attention back into your numbers:
Do your bookkeeping. This is as simple as coding all of your revenue and expenses accurately and comparing your bank statement to your accounting.
Review your financial statements. Check out your P&L compared to last month and see how you’re doing. Calculate your profit margin compared to last month (Profit Margin = Net Income / Revenue). See how much money is in the bank.
Update your forecast. You probably have a plan for the rest of the year and revenue and expenses mapped out monthly (If you don’t, reply to this email ASAP and I will hook you up with a template!). Come back to this plan, make any adjustments, and go forth and grow!
Simple, right?! Because what we focus on expands.
How are you going to get into your own monthly finance routine today?
