So, a funny thing happens when you start a business and it takes off.
Actually, a bunch of things happen.
But the biggest for me personally, was the urgency to understand my business numbers and have a better relationship with money.
Going into last year I knew, that in order to be successful in a way I never had, I needed to do something I had never done.
So I began a mission to find someone who could help me understand profit and loss, separating my business and personal accounts, and learning to pay myself.
Here is how it played out.
- Found an amazing person I absolutely love and recommend to everyone. Her name is Liz Lajoie and you can learn more about her here.
- Have many calls with said incredible person, where my eyes glazed over and she began to sound like the teacher from Charlie Brown.
- Got all my finances together, begrudgingly, learning where my money was going.
- Hurt my brain trying to understand H1/H2 and Q1/Q2/Q3/Q4 talk (what the what was she talking about).
- Wait to spend money on my business until I made the money.
- Didn’t move forward with big purchases (other than my coach -which was $4500 a month), until after I had made over $100,000 in my business.
- Start spending money, thinking it was the right thing to do.
- Not save for taxes (much to the upset of said favourite person).
- Never have money in my bank account.
- Go to bank and take out MORE money.
This took me up to December of last year.
The funny thing is, YOU can read this and see where it is heading. I can look back NOW and see where this is heading, but in the moment, I was blind to all my errors.
Even with said incredible person getting frustrated with me and trying to coach me to better financial practices.
Because, like a rebellious teenager, apparently I had to figure it out on my own, and do everything wrong.
(Insert exasperated sigh)
So that brings me to this year.
The last six months have been a roller coaster ride of emotions as my almost best and worst financial months have played out.
Inconsistency, over spending, and hiring too many people rocked me from riding a financial high, to digging myself out of the financial trenches.
This has brought so many beliefs up to the forefront about money, that in truth, I am eternally grateful for all that I’ve been going through.
In the last six months, I have fought the demons of money mindset, and have surfaced victorious!
These beliefs have included, “if I make money, I won’t fit in”, “I spend money I don’t have to help others feel better”, and “if people know my money mistakes, they won’t hire me”.
Today, as I reflect on 2018, doing some H1 number work, I’m in awe.
These photos represent only one small glimpse in to my business, payments through the square reader. This doesn’t include Stripe, PayPal or any other forms of money transfer.
What looks back at me is hope, joy and a platform to help others create an online business minus all the mistakes I’ve made.
I’m so blessed to get to wake up every day and shine my light doing what I love, and these numbers reflect that.
It all began with the understanding that I needed to start my business knowing my numbers.
Through discomfort, failing forward, and learning as I go, it was the BEST decision I’ve made.
And a secret….
Money is now my favourite thing to talk about.