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Planning for 2021
Cowgirl Jo • February 2, 2021
"In 2021 I will have my finances figured out"
If you want to have your finances in order for 2021 then now is the time to start, specially if you are needing to create the procedures and protocols. It takes some time to set the procedures in place and then there is always tweaking to be done. I encourage you to do yourself a favor and get started on what you want 2021 to look like in the accounting department.
Lets look at Abby Covert's 7 steps to sense-making and apply them to your financial mess.
1. Identify your mess. As yourself "What is my mess? Do you not know if your business is making a profit? Or maybe you know your numbers, but overwhelm yourself and stress out in getting them. It could be that you know you need help to understand your numbers. Whatever the pain and mess is, identify it clearly.
2. State your Intent. What do you need to know or do? It may be to know who much profit your business is making. or it could be to have accurate numbers throughout the year so you can make empowered decisions. State it very clearly.
3. Face your reality. What is your reality? Maybe you need to purchase software for accounting or simply put to use the one you have. Maybe you have no idea how to clean up your mess. Maybe you are terrified to even attempt to clean it up. What is really going on that holds you in the mess you are in?
4. Choose a direction. Is this something you want to do your self? Do you simply need someone to train you or hold your hand? Or do you need someone to take over the finances and hand them back to you all pretty and simple?
5. Measure the distance. Take a good look at the gap between your reality and your intent. What are you doing? What do you need to do to make your intention reality?
6. Play with the structure. Establish exactly what it will take to accomplish your goals. It could be things like hire an accountant or cut expenses and increase sales. Choose one or two action steps to start with. Put them in place.
7. Prepare to adjust. What have you learnt though this process? What do you need to address differently? A business is a living organism and there is always growth and adjustments to make.
You can do this. You are capable!
Pointers for Creating Revenue Goals for Your Business
Look at 2024 in preparation for 2025
Lets create that 2025 Budget
Budgeting
The science behind your pricing
Timesavers for Bookkeeping
How to create accountability in your business financial procedures.
Choosing to Invest in yourself is smart
The business owner and equity
Looking At Financial Goals
