Tools You Can Use To Automate Things In Your Business

“Entrepreneurship can be a grisly, volatile mess of toxic ingredients on the verge of combustion, threatening to consume your health, relationships, and life” according to an article on Shopify.com.

This is true.

Entrepreneurship is not for the faint of heart and is certainly much more challenging than being an employee.

Period.

With that said, it is important that we look for ways to minimize the stress in our busy lives and this can be managed in part with using technology. Here are 3 tools you can use right now to automate things in your business.

Boomerang - We all love email right? Most likely the answer is no but using this app will make it a lot easier to manage your email communication. Boomerang is an email productivity app that allows you to create email messages and then schedule them to be sent in the future. I use this often and it helps to take things off my to-do list. Once I see an email in my inbox that needs a response I can create a response on the spot to have it sent at a time that makes it easier for me to ensure that my clients are taken care of within 24 hours Monday through Friday. This means there is less of a chance that communication will fall through the cracks. They offer a free version across a variety of platforms like Gmail, Outlook, IOS, and Mobile.

Freshbooks - We all like to get paid on time right? Well, Freshbooks makes it even easier to get that done via their recurring invoicing process. You can set up customers to put a card on file and at a specified interval they will be charged instantly and your invoice will be paid on the spot. it makes everything easier for you and your customer. If there is an issue with the payment method then Freshbooks will notify you and your customer so that communication surrounding invoicing is not lost. They have an offer to try it for free right now.

Hootsuite - Hootsuite is a social media scheduling tool that makes it easier to manage your online content. Do you ever get stressed out thinking about writing and scheduling posts to your social channels? Well, this software will help to alleviate that stress. You can try it free for 30 days to test it out.

The entrepreneurial life can get complicated fast. It is good to know that there are tools you can use to help manage your communication, social presence, and to get paid on time. What tools do you use to automate your business? Share in the comments below.

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Welcome To The Month Of May!

Welcome to the month of May!

I can’t believe how fast this whole year is going by. I am sure that the strange array of events is helping us to lose track of days. May is full of fun events most importantly celebrating Mother’s Day. It is also a good time to stop and take stock of where you are in your business. This month I want to take a deeper look at tech tools to help run your business better and online marketing resources that can be used to reach your customers. I hope you are taking advantage of all the government-related business financing resources available to keep your business running smoothly.

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How To Keep Your Business Finances Afloat In The Midst Of The Storm

The Covid -19 virus has wreaked havoc on all of our lives in more ways than one. Outside of the world health crisis that is unfolding before our eyes, it has put many businesses in financial jeopardy that has lingering consequences.

According to a survey from PwC, “The findings show that businesses are prioritizing cash spending, while assessing options for financing and/or deeper pullbacks as they look forward toward a recovery time frame.”

• 67% of finance leaders surveyed have already taken steps to contain costs as a result of COVID-19.

•  64% are considering the need for taking further actions on costs or investments.

•  76% of respondents expect that their business would be back to normal within three months if COVID-19 were to end immediately. 

What does this all mean for you?

Find ways to reserve cash on hand by cut expenses that are not necessary - Now is a good time to take a look at your business expenses to see which ones are absolutely necessary to run your business operations and which ones are just “wants.” If you have your bookkeeping accounts organized this will enable you to see all of your expenses in one quick snapshot so that you can make these types of decisions.

Look for alternative ways to get capital - There are a variety of ways to get financial help during this time of crisis like applying for the much talked about small business assistance loan offered by the government called the Small Business Paycheck Protection Program. This program is a part of the Cares Act and is designed to, “Provide small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible.” Check out the top-line overview of the program on the US Department Of The Treasury website here. I also shared another great resource for obtaining capital in my previous blog post called BlueVine.com.

We are in very troubling times. But the good news is that we have resources to help us to get through this storm together.

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Are You In The Right Business?

You are a new entrepreneur and you have been diligently working in your business wearing every hat imaginable. You started off with a real passion in your belly and you were full of energy.

Then something changed!

Are you just in a business rut? Or are you in the wrong business? Here are 4 ways to tell:

1. You feel sick - You start having that nauseous feeling on Sunday night just like you did when you were working for a company. If you feel dread come upon you and start having a case of the Monday’s this could be a bad sign that you are in the wrong business.

2. You are struggling to sell your services - Looking for your raving fan clients can take a while to find but you should still have a decent client base to sell your services to that will keep your doors open and at least get you to “ramen profitability.”

   “According to Smallbusiness.chron.com, Beginning entrepreneurs should distinguish between what is called "ramen profitability" and actual corporate profitability. Ramen profitability is enough cash flow that the founders of a company can sustain a minimal lifestyle as quickly as possible without the need to resort to outside jobs or income. "Shoestring" start-ups that need very little capital to launch can reach ramen profitability in a very short time, but it may take far longer for the founders to draw a decent salary and also leave enough cash on hand for the business to show a profit.”

3. You are out of gas - You are not as passionate as you used to be when you first started. This could be a simple case of burnout or it could be that you don’t like the services that you are trying to sell to clients. it is time to do some deep thinking.

4. You followed popular Googled business ideas - If you went online and researched something like the top ten small businesses to start fast instead of going with your own interest and passions then this could be the fatal flaw.

Entrepreneurship is a fun journey but if you identify with any of these 4 signs then it might be time to change course, do some soul searching, reach out to a business coach and get back on track.

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Hey You Desk Potato! Yeah That Means YOU!

I don’t know about you but working from home as a business owner sometimes leaves me feeling like the picture above. I get into a good groove working on a specific project and when I look up an hour has easily passed me by without me getting up for a good stretch break. I have an exercise schedule that I usually follow but lately, I have been so enmeshed in projects that I have been skipping some of my activities. That is one of the reasons I started my own health & wellness Meetup for women (sorry guys:) so that I would be forced to get out in the world and be active.

As the increase of remote working moves forward, it does bring with it some health concerns to be aware of. According to an article on Time.com, “Income instability and poor access to affordable health care have both been linked to reduced physical and mental health. There’s also evidence that people tend to“overcommitment” to work and find it difficult to disconnect or relax, which they say negatively affects their mental health.” There are ways to stay healthy and achieve success as a remote entrepreneur. Check out these tips from Entrepreneur.com. I hope they help you to get moving throughout your day and stay fit.

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How To Increase Profits & Lower The Taxable Income For Your Business

I will start off by saying that I am NOT a tax professional. I am just having a friendly conversation with you business owner to business owner.

:)

We all have one thing in common. We want to make money in our business doing the things that we love to do. Statistics show that not everyone is making money in their business and worse yet many small businesses go out of business within their first year of operations. “According to data from the U.S. Bureau of Labor Statistics, about 20 percent of small businesses fail within their first year. By the end of their fifth year, roughly 50 percent of small businesses fail. After 10 years, the survival rate drops to approximately 35 percent.”

What is happened?

What is one of the common denominators that lead to the death of a business?

The most common issue that leads to small business failure is money woes. “Owners of failing companies are less in tune with how much revenue is generated by sales of products or services. This disconnect leads to funding shortfalls that quickly put a small business out of operation.”

What is one of the simplest solutions?

Keep your books up to date. It can be easier said than done I know that’s what you are thinking. You are also probably thinking that your already so busy running your business that as long as you know what is in your checking account then that’s all you need. This is not the best way to manage your business operations. Yes, you can take a peek at your checking account to see how much money is available to pay bills or withdraw cash but it won’t give you the information below:

• How much revenue did you bring in for the services or products you sold within a given time period?

• Were there any fraudulent charges by a vendor?

• Do you know which customer invoices are outstanding?

• Do you know which vendor payables are outstanding?

• Cashflow management

• Budgeting

• How much equity do you have currently within your business?

• Are you making a profit?

• Are you spending too much on unnecessary items?

The list could go on but you are getting the picture about how important it is to keep your books up to date.

Tax Time Preparation

Another great reason to keep your books up to date is to make sure you are taking the right deductions which can lower your taxable income. According to Inc.com and tax and business attorney Barbara Weltman, “"The tax law specifically requires certain records in order to take deductions," Weltman says. "Without these records, legitimate expenditures may not be deductible." Here is a short list of what is needed:

• A system for tracking your income and expenses

• A system for capturing receipts for purchases

• A policy for certain types of record keeping such as mileage and car expenses

In short, by having a good bookkeeping process in place you will be able to pull your financial reports which will give you the overall health of your business. You will be able to see if you are profitable or not. Additionally, you will be able to take advantage of any deductions that are available and lower your taxable income. In short, just looking at your checking account won’t give you all the information you need to run your business effectively.

So are you currently using a system for bookkeeping or are you just winging it? Share your feedback in the comments below.

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How To Create More Peace In Your Business

Being an entrepreneur is an exhilarating ride.

There are ups & downs.

When things are going great it's like living in the roaring 20's.

BUT when things are not going so great....well...it is like a black cloud follows you around. Is there a way to create some ying & yang within your business?

I believe there is a way. Over the next few weeks, we will take a look at a few different areas within your business and how you can create more peace and balance in those areas. 

How do you create that ideal balance within your business and in your life?

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Why Did You Start Your Business?

Hello everyone. I hope the month of March was productive and profitable for you. If it was then that is awesome and of course, you should do more of the same for the month of April. If you didn't reach your goals for March then maybe it's time to;

STOP

REFLECT

AND ASK YOURSELF THE QUESTION BELOW

Why Did I Decide To Go Into Business For Myself?

The answer to that question is different for everyone. But it is the foundational fuel that will push you to be a better entrepreneur.

It will give you purpose, energy, and motivation to redirect your efforts toward making your business a success.

This month we discussed how to solve some the biggest problems with running your holistic practice successfully. We took a look at how you can have more peace in your business and using online tools in your business to make it run better. Finally, we took a look at a few ideas on how to be more productive and make more money in your business.

The bottom-line is it is YOUR business. Your heart and soul should be in it 100%. If you feel you are off track then take a little time now before the next month starts to reflect and redirect your efforts.

I will leave you with some words of encouragement that I shared at the beginning of the month.

You can do this. Your destiny is to use your gifts to help people to change their lives for the better! Now get moving!

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Online Tools To Help You Run Your Business Better

Are you still running your business like it's 1985?

Writing down ideas on little pieces of paper?

Taking calls on your own personal cell phone?

Missing out on potential clients because no one is there to handle incoming messages?

STOP THE MADNESS!

:)

Check out this article about how to use online tools to help you run your business better. If your looking for ideas on cool receptionist services check out this post I wrote about some of the leading services available.

If you could wave your magic wand and make one area in your business run smoother what area would that be?

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How To Solve The Biggest Problems With Running A Successful Holistic Practice

 

You are ready to change the world one person at a time by helping people with their health and wellness challenges. You completed your training. You have watched countless webinars and attended in person conferences about how to be a successful entrepreneur. 

But you are still not bringing in enough client revenue to do more than break even. 

And now your own personal health is starting to suffer. What is my next step you might be thinking?

Take a step back and learn from others who have reached great success in their health and wellness businesses. Read this post on what The Top Health & Wellness Entrepreneurs wish they would have known before starting their own business. Sometimes it just takes learning what not to do from others to propel us on our way towards success. 

What are some of your biggest problems with running your business? I know that social media and creating consistent content was always a challenge for me but not anymore. What about you?

Stay inspired by checking out this cool motivational quote.  You can do this. Your destiny is to use your gifts to help people to change their lives for the better!

Keep the positive vibes flowing and keep it sunny!

The Tax Time Clock Is Ticking and Making A Mistake Will Cost You Big Time!

We are here my fellow entrepreneurs. And just like you I hate tax time and don't want to pay any unnecessary money to good ole uncle sam. Read this article to learn how to avoid givin your money away. Also, now is a good time to put a process in place to get your business receipts in order. If you want to use your expenses as a write off then you need actual receipts because bank statements will not substitute. I hope you gain some useful tips to help you navigate the sharky waters of tax time.

Keep It Sunny. 

Are You On Track For Success In Your Business?

January is in the record books and February is here.

How is your business doing?

Do you have your goals written down and created a system to reach them?

Are your financial records in order so you can take care of your tax obligations on time?

If not don't worry. There is still time to take a step back and put a plan in place. This month we will focus on business operations and making sure everything is set up to run smoothly. In the meantime check out this post I wrote about how to create more peace in your business. This will get you in the right frame of mind to be the amazing entrepreneur that you are meant to be.

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Are You Ready To File Your Taxes?

The new year is in full swing and with the chance of a fresh beginning means getting rid of some old things like:  paying taxes.

I know it isn't what you want to hear but it can be relatively painless if you get your ducks in order.

Check out this previous post I wrote about doing just that.

Also, check out the show notes from a recent podcast on Entrepreneur on Fire.  CPA Josh Baurele discussed the implications of the new tax laws and how it could affect small business entrepreneurs.

Don't procrastinate.

Start the new year off strong and get your books in shape. 

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STRIPE PAYMENT PROCESSING SOLUTION FOR YOUR CLIENT PAYMENTS

Your business is thriving and but you're having issues with faulty credit cards and making easy online payment solutions available for your clients. The technology is available and as it is true of most things in our world today: There is an app for that! Check out Stripe as a payment processing solution for your clients.  

An article posted by QuickBooks online states that, "Credit cards have evolved into one of the most common methods of consumer payment, with nearly 60% of U.S. consumers using cards over cash, according to a recent report by the Federal Reserve". It is important that as an entrepreneur that you provide a simple, easy and convenient tool for your customers to use. This will help them pay for your services easily and it will help you collect receivables more efficiently.

Stripe is a great payment solution that comes with a hosted page that is included in its price. This means your customers will not be taken away from your website to make a payment. Unlike PayPal which does have a hosted page but you must upgrade to their pro plan for that feature. Stripe isn't an invoicing program so you need to connect it to your bookkeeping software which is relatively easy.

The fees are comparative to PayPal. Both Stripe and PayPal both charge 2.9%+$.30 per transaction fees.  The major differentiators that I like are that Stripe has a hosted page for clients to go to for online payments, their fraud resolution tools are user-friendly, they integrate with many third-party apps like QuickBooks Online and they are cost competitive with other comparative options.

Give your customers another option to pay for your services online and check out Stripe to see if it can work for you.

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How To Run Your Business Without Employees

Are you struggling with the idea of whether or not to hire an employee to help you in your business?

If so check out one of the first posts I wrote on this very topic and see if it helps to clarify your thoughts.

 

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IS IT TIME FOR A BUSINESS CHECKUP?

We all get busy and if you are a team of one then it can get increasingly hectic to make sure your business is going in the direction you want. You might have a few sleepless nights wondering if your bookkeeping is in order or how to get the shoebox of receipts into your QuickBooks account.

What about writing out a future plan to grow your business? That probably fell by the waste side as you got focused on resolving a client issue. You might have thought about creating some sort of standard operating procedures for your business but got busy wearing your marketing hat. I get it.

Check out a previous post I wrote on this topic that pinpoints some areas to zone in on.  And share some of your administrative challenges in the comments below so we can collectively learn from each other.

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Do You Have What It Takes To Run A Health & Wellness Business Online?

Running a successful business is hard work.

Running a business that is focused on helping people be the healthiest

that they can be & using the online platform as your storefront can be

EXTREMELY challenging. 

Is it doable?

Of course it is.

Are you up for the challenge?

That is a question that only you can answer.

While you are pondering this question check out this article I read on

DamyHealth.com and learn about the pros & cons of running a health &

wellness business online.

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How To Stay Focused & Not Get Burned Out When Building Your Business

How is your business doing? Do you have everything on your checklist done? What about client acquisition? If you're feeling overwhelmed then check out my previous post on how to get your motivation back and get back on track.

 

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I Am Not Making Money

Photo Courtesy of graur razvan ionut|Freedigitalphotos.net

Does this sound like you? "If I had more time to market I know I could increase my bottom-line. I am so frustrated that my business isn't making more money and I feel like throwing in the towel. This isn't the dream I had in mind when I started my business and it is turning into a nightmare". These are the thoughts of a very unhappy entrepreneur.

As a small business owner I understand that trying to do everything all at the same time AND take care of your marketing efforts to win new clients is a lot of work. I am exhausted just thinking about it. 

But there is a way to make your dreams a reality.

The first order of business is to recognize that you are having a problem. The second order of business is to get some help. Let other professionals such as a bookkeeper or a virtual assistant into your business life.

Do not be fooled into thinking you can do everything that you need to do to keep your business afloat. Start making money by making an investment in a business partnership today. So are you drowning? Tell me what is keeping you from making money in the comments below.

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