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Welcome to the Net Worth It Podcast, where you receive faith based mentorship to help you create a financial legacy and boldly build income streams. Each week you will hear from one of the God Squad who will help you level up and know what is your next step.

Nov 9, 2022

Ignoring the numbers in our business is usually because we are triggered or scared by them. What if we could solve that? What if you could look at the numbers differently? In this episode, we are tackling all things numbers. 

In this episode, you will learn about:

Story: Dave Ramsey's plan causes us to have a domestic drama.

1. Money has to have buckets

  •  Household money vs. business money
  • What goes in household vs. what goes in business

2. Income must be prioritized. 

  • How to knock out credit card bills from things you have invested in 
  • Story: This year was a bigger year for income, and I realized I had no money to pay myself. I had to look at the profitability of each program and make some changes to each program in order to create profits. 
  •  

3. Tracking for different stages in your business

  • A simple way to track your business finances that doesn’t require Quickbooks 
  • When is it time to hire a bookkeeper, and how to do that
  • Why I would never do my own taxes as a business owner
  •  Some critical basic steps you need to take to start taking care of your business health
    • (Recap)
      • Get your own Checking and savings account as a business owner
      • Get your business in an LLC (consult your state's process- go down there)
      • Look for resources at your local chamber of commerce for help in starting your business
      • Start a spreadsheet of money coming in and money going out. Make one for your personal life and one for your business.

 

Resources: 

https://blog.hubspot.com/marketing/google-sheets-templates 

https://gretchenheinen.isagenix.com/en-us/ 



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