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Posts Tagged ‘finance’

Money mindset lessons from my dog

Wednesday, January 15th, 2020

I’m sure you realize that your relationship with money is important to your business growth. Seems obvious, right?

And, I know that you had a lot of reasons for starting your business. One of them was to make money at something that you loved.

What is odd is that we want to make money to support our lifestyle and make a contribution. At the same time, we can sabotage our efforts with our mindset. You could also call them “money blocks.”

So what does this have to do with my dog?

Recently our dog Button went through a picky-eater stage. We would end up throwing out partially used cans of food because she would no longer eat them. I found it frustrating “throwing money away.”



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Old Year Lessons

Wednesday, December 11th, 2019

In three weeks you’ll turn the calendar page to 2020.

Each year the years seem to fly by. And this year was no exception.

While three weeks isn’t a lot of time, you do have time to take some positive actions to end your year on a high note and get a head start on 2020.

Here are some tips that I’m taking to heart.

Don’t wait until Dec. 31 to check your financials.

I’ve been working on my financials the past week or so. As someone who is self-employed, I need to make estimated tax payments. While they aren’t due until Jan. 15, 2020, I like to get my settled before the end of the year.

Some questions you might consider:

• Do you need to follow up on any late invoices if you want the income to be in 2019?
• Do you need to defer the income until 2020?
• Do you need to make any expenditures by year-end?
• What tax consequences should you be aware of?

On my list is a quick call or email with my accountant. This will answer any last minute questions and allow me to make any adjustments I might need to minimize any taxes I owe.



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Do you have good financial habits?

Wednesday, January 17th, 2018

Many artisan entrepreneurs feel uncomfortable with the money side of their businesses. It’s not uncommon. You want to spend your time creating not thinking about numbers. Of course, you are in business, and your goal has to be to make money. If you don’t make money, you won’t be able to run your business. You won’t be able to grow your business. You won’t be able to share your art beyond your family and close friends. And, the world will be less because you aren’t sharing your art with a wider circle of people.

Now is a great time to put some good habits in place on the financial side. If you take these steps, you’ll reap rewards both personally and financially.

Understand your money story

We all come to our business with a story about money. It will have good elements, and it will have not so good elements. For example, your story might be, “I’ve just never been good at handling money.” Or it might be, “Other people deserve this financial success more than I do.” Or, ” Money just isn’t important to me.”

Take some time and journal about the stories that you have about money. The stories came to you honestly. They were what you heard as a young child, what you saw on television or the movies, and what your friends or spouse believe and share.

Once you understand where your money story came from, you can ask yourself if it’s true and if it serves you. Just because you came to them honestly, doesn’t mean they are true. They might just be an opinion, and a false one at that.

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