How to be a CEO in your business

Uncategorized Mar 02, 2022

I want to talk to you about how to be the CEO of your business.

You’ve probably been running your business for a while, maybe you’re a freelancer and you bill for your time. You may already have a virtual assistant or a social media manager, but, essentially, you think of everything as being your own.

I want you to start thinking about the change of mindset that it is to become the CEO of your business and not just it being your business.

Start thinking about your business being separate to you and you being a part of that business. Think about the mindset in which you pay yourself, as if you were an employee or a director of the business. 

It might be that you want to reinvest money. It might be that you want to pay yourself more, or you want to spend money on a mastermind, or a Virtual Assistant, or a Social Media Manager.

I want you to really think about moving away from a payroll set-up or feeling like "I'm working for the money." I want you to move into the...

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Do you have good boundaries in your business?

Uncategorized Feb 23, 2022

Do you have good boundaries in your business?

I’m sure you might be wondering what that’s got to do with pricing?! But actually, boundaries are incredibly important when it comes to pricing and it makes such a difference if you've got really good, solid, boundaries in place.

Now, there's a thought that structure can stifle your creativity, but, I think that if you set your boundaries well and say, "this is the time that I'm doing such and such and this is the time that I'm doing such and such", it can really free you up creatively to work on the things that you know you're good at and to spend other time working on things that you are not so good at or that you find hard or boring.

I think that boundaries over the last two years have just become totally, totally mixed and there's just no cut-off between work and life.

Working at home boundaries - We have all been working at home, and I think it's really important to really think about how you make that boundary between...

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But I don't want to grow my business

Uncategorized Feb 16, 2022

“But I don't want to grow my business”. This is something I hear all the time!

I talk a lot about growing your business and scaling it and how to outsource but most people say to me “I don't want to grow my business” I just want it to be me.

I think that is absolutely fine, there's no problem with that if you don't want to grow your business. But part of growth is to stop exchanging time for money, this is something we all need to get away from so you can have a holiday, you can have time off, if you are ill, or you have an ill family member or even if you don't want to work five days a week, nine to five.

I want you to think about stopping exchanging time for money as way to grow, and being able to scale your business so that you can take time off so that you can enjoy your business a bit more.

When you're working time for money, there's a ceiling in your capacity and how many hours you work delivers how much revenue. If you're saying I will work 10 hours...

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Are you scared about your business numbers?

Uncategorized Feb 09, 2022

Are you scared about your business numbers? I’m here to make sure you aren’t scared of them and to help you feel much, much more confident in them. 

Lots and lots of business owners I speak to are not confident in their numbers, they're scared, and don't know what they're looking at.

I also think that there's an awful lot of people who go into business because they're good at what they do. Some people might be creative and are amazing self-employed artists, others might have trained in psychology and become self-employed therapists.

But being good at what you do doesn’t mean that you will know how to manage the numbers in your business.

I'm the opposite. I am totally not creative at all. And I know my numbers inside out. But that's my background, that's what I do all the time and that's what I help other people do.

It’s important to be aware of your money mindset and to think about why you tell yourself you can't understand your business numbers. I...

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Key Numbers in your Business

Uncategorized Feb 02, 2022

It's really important that you know all the key numbers in your business - it's the only way to keep on top of your business and know where you're going.

Whilst it might seem scary, your numbers are really important to know if you want growth and longevitiy.

If you don't really know what your numbers are, let's start with some of the easy stuff;

Know how much time you're spending on things - things like how much time you spend on client work, how much time you're spending down a social media rabbit hole, how much time you're actually working.  I recommend something like Toggl to track your time.

Cash - it's always said, revenue is vanity, profit is sanity, but cash is king. Cash is really, really important. If you haven't got cash, you can't pay for anything. I always recommend that you keep about three months worth of cost in your bank, balance your bank account so that you can save that money and keep it aside plus your tax. If you're self-employed that's about 30%, and...

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Feast and Famine

finances income planning Jan 26, 2022
How do you deal with feast and famine in your business?
 
All businesses have feast and famine periods, some months where you are making loads of money, and some where you make none. Maybe you do a big launch so you get everyone paying up front, but then you have to deliver the course. Or you have the summer holidays off, or your business is seasonal.
 
Often costs are much more consistent, as your website etc are charged monthly. Do you know how to plan for this fluctuation in revenue in your business? Or does the yoyo income make you feel ill with worry? And then do you think you might not be able to pay the bills?
 
You need to have a plan in your business for the times when there isn't work. It is a fact in a freelance business, there is no getting away from it. Some months are just leaner than others. But you need to make sure this isn't a surprise to you and that you can manage to cover your costs.
 
So get clear on what your outgoings in your business are,...
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Preparing for Self Assessment

cashflow tax year end Jan 19, 2022
The end of January is creeping up on us, are you ready to submit your self assessment payment on the 31st?
 
My advice, as always, is to get the numbers sorted out for your tax return as soon as you can. Download my year end checklist here to get the list of what you need to get together.
 
Hopefully, you have been saving around 30% of your net income. For a sole trader this is revenue less expenses ie profit from your business, and for limited companies, it is on salaries and dividends paid.
 
If you can submit your numbers early, you might have some spare money you can release, if you have been saving 30%, or at least you will know what the number is and you have 10 months to sort things out to find that money.
 
Knowing where you are at the moment is especially important to ensure that you can do something about it now. For example, taking a mortgage holiday, stopping any subscriptions you don't use etc. Don't just stop direct debits and standing...
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The benefits of Zapier automation for small businesses

Uncategorized Dec 01, 2021

Have you ever needed an extra pair of hands in your business, or wished you had a few more hours in the day? Business process automation could be the answer!   But what does that even mean, and where does Zapier fit into the puzzle?   Here’s all you need to know…

What is business process automation?

To run your small business, you probably use a variety of different software applications, such as Outlook or Gmail, Excel or Google Sheets, an accounting system such as Quickbooks Online or Xero and a CRM which could be Salesforce or Pipedrive.   All of these systems consume data and if they are disconnected then you often have to rekey the information from one into the other.  This can be extremely time consuming and also prone to human error.  So, wouldn’t it be cool if they could all talk to each other and pass the relevant data between them?  That’s the essence of business process automation!  It means that...

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5 things I wish I'd known when I started my gift wrapping business

Uncategorized Nov 24, 2021

Are you thinking of setting up a gift wrapping business? Maybe you're feeling overwhelmed wondering where to start? Or it could be that you have already made a start in getting set up but are wondering if you have covered everything?

Here are my 5 things I wish I'd known when I started my gift wrapping business.

No 1: Deciding early on who your customers are going to be

You need to decide how much time you can give to your gift wrapping business. It's easy to fall into wanting to offer a gift wrapping service to everyone, a private customer to big corporates. You could end up feeling very overwhelmed as they are going to have very different needs. A couple of small gifts for a private customer may not take you too long but a corporate may want several 100 or 1000 of gifts wrapped.

No 2. Deciding prices and don't forget to factor in P&P 

Gift wrapping is still quite a niche business to be in, so deciding on how much to charge can be quite difficult as there is very little...

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How to talk to your husband about your business numbers, so he stops suggesting you go back to a 9 to 5

Uncategorized Nov 17, 2021

When you’re in business the finances and making decisions about investments and money can feel overwhelming.  If you’re married it’s natural you may turn to your husband for support and talk about your thoughts, worries and questions.  But you might not get the response you were hoping for.  And if your husband keeps suggesting that you should go back to you 9 to 5 because your business is not yet making the money you need, it can leave you feeling that you can’t talk to your husband about it.

If that sounds like you, this blog will help.  I will explain how to talk to your husband about your business numbers so that you get the support you want and he stops suggesting you go back to a 9 to 5.

But firstly there’s some things it’s helpful to understand about our brains.  The male and female brain are not exactly the same.  This means that we experience, respond and react quite differently to the same situation.

  • The...
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