M O N E Y
M A T T E R S
SMART
MONEY BY TAKISHA ARTIS
HOW TO MAKE STRATEGIC MOVES WITH YOUR MONEY
W
hen it comes to running a business, you have to know a little bit about a lot of things. Trends in your industry, customer concerns, products, and service development; the list just goes on and on. But one of the main areas most entrepreneurs bury their heads in the sand is with their finances. I totally understand, its probably the same in their personal finances. With an economic storm looming in the form of a recession in 2020, it’s time to make sure your finances are in order, and
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you are positioning your business to bring in an abundance of cash. With the growing number of entrepreneurs surpassing the six-figure mark in earnings, it’s vital that you are more intentional in your spending, savings, investing and giving.
Here are three ways to be more intentional with your finances. Smart investments. Identify areas within your business where you can invest in generating massive growth such as sys-
tems, personal and professional development, and marketing. This may also be the time to start outsourcing certain areas so that you can free up your time. Engage someone to help you in the areas you are weak or hire a coach to help you scale your business faster. While you’re investing, don’t forget to build a business reserve. This will help ensure that you, keep your cash flowing when sales are low, are prepared for upgrades, or in this case, provide a cushion to hold you over during a recession.
