Tips to Stay in Control of Your Business Finances

Falling off the business finances wagon is common!

As humans we naturally gravitate to things that we enjoy, do I do the dishes, or I can watch my favorite TV show? The same happens in our business, especially when we are pressed for time or bandwidth.

This is how our finances get behind which then easily snowballs into not wanting to bring it back up to date.

Here are my Tips to make a change...

Set Your Routine

Looking at how many transactions you have, you must set a routine to keep your business finances in check by making it a priority for your business.

This can be weekly, monthly or quarterly - the more often you are tending to your numbers the smaller this task can be.

I recommend choosing a day and time that suits you and your business can make a huge difference in staying in control of your business finances.

Get in the Zone

Anything we don't enjoy needs to be made enjoyable and also takes a lot less time when we get in the zone.

Have any other tiny tasks completed, the fewer reasons you have to distract yourself the more you can knuckle down and get it done,  and it's also a good idea to turn off any notifications that may see you interrupted.

Ensure you have your favorite beverage and snack ready. You may find playing some light music in the background can help the business finances process, depending on your need to concentrate.

Have Everything You Need

Make sure when you sit down to work on your business finances that you have all the things you need at your fingertips.

Having your bank statements, and receipts all within reach can stop the procrastination temptation.

If you need to, make time to gather these items as part of your session or even as a separate prep time block, find what works for you and make it part of your routine.

Catchup Phase

When we are behind, it is very easy to let it keep piling up, making the catch-up bigger as each week continues to fly by.

TODAY is the day - draw a line in the sand and stop adding to the catchup pile!

If your system or process allows you to, you can work on the current numbers and know that you can set aside some catchup time for the backlog.

The longer you continue to add to the backlog, the worse it's going to get and the less you will want to face it. STOP making this harder on yourself.

Commitment

Your business finances need your commitment, whether this is outsourcing or waving your DIY wand. Making this a priority in your business can take away a lot of stress and pressure, then give you the freedom to go and do the things you enjoy without the numbers hanging over your head.