Lead Up Tips
By Ashley Schmitz
10
RIVE H T TO TIPS N YOUR I NESSS I S U B NCE A N I F
1.
2. 3. 4. 5.
eep your personal and business separate. One K of the biggest mistakes you can make as a business owner is not keeping your funds separate. Piercing that corporate veil leaves you open to consequences that cannot only affect your business, but your personal life.
ave multiple streams of income. When you H have multiple streams of income, you’ll not have to worry if one source of income hits a dry spell.
ave a cash reserve. When you have a reserve H set aside for a rainy day, you’ll have a safety net in the cash of an emergency or recession.
reate habits of paying off debt in a timely manner. C Sometimes businesses need capital to grow. If you need to accrue debt, make sure you’re living within your budget and have a plan of attack to pay that off.
E stablish a budget. When you have a budget, you’ll be able to understand what’s going on in your business and how you can make your money work for you.
30 Lead Up for Women
6.
onitor your spending. Having regular check M ins with your overall spending habits will instill you’re making good choices for your business.
7.
F orecast your finances. When you have Steps 6 and 7 as habits, you’ll be able to forecast your spending and make proactive decisions for the future.
8.
anage your assets. You should have assets M you can liquidate if needed. This shows your business as a healthy source of revenue.
9.
rganize your documents. When your documents are in O order and there is a filling system in place, you can have a great grasp on any information you need at any time.
10.
ire an expert. When you have a partner in your H corner, you can focus on your greatness.
Connect with Ashley Email: ashley@eachpennybookkeeping.com 815-368-9899 eachpennyplan.com
November-December 2020
