146 Financial Intelligence: What You Track Grows

146 Financial Intelligence: What You Track Grows

Author: Jennifer Barcelos and Sandy Connery December 10, 2019 Duration: 35:36
Far too often business owners either fear or dread looking at the numbers or simply find it impersonal and boring. This is not an empowering way to approach your financials and does not have to be the case! Looking at the numbers can become a sacred monthly ritual where you take time to pause and reflect on all that you have accomplished and where you have room to improve. If this sounds like something you’d like to incorporate into your business, today’s show is just for you! Jeni and Sandy believe that what you track grows, not only because these numbers are in your consciousness, but also because you can create systems based on the data you uncover. There is often shame around small numbers, but every business has to start somewhere, so take time to understand and appreciate them. Every lesson the numbers teach you can be put to use to grow your business or make informed choices for how to move forward. Jeni and Sandy share two aspects of tracking numbers. They first talk about bookkeeping, what it is and the bookkeeping tools that they have found most useful for their businesses. Then they move onto a different aspect of tracking – the other metrics they use to measure their business performance. Tracking the numbers puts you back in the driver’s seat and empowers you to make decisions that align more closely with your goals. Don’t fear the numbers, embrace them! Key Points From This Episode:   Some of the reasons why what you track will grow.   Numbers are simply neutral data and not an indication of your worth.   Tracking can be separated into bookkeeping and other kinds of non-financial metrics.   Bookkeeping options: do it manually, hire a bookkeeper, or use an online bookkeeping tool or software tool.   How to choose a bookkeeping tool based on the specific needs of your business.   Insights into some advantages of using bookkeeping software.   Discover the specific reasons that Sandy and Jeni love using Bench for Namastream.   Learn more about the way that Sandy and Jeni track their sales goals.   Knowing your numbers allows for better decision-making and goal alignment.   Why it is useful to see differentiated product sales that comprise the total revenue.   If you have different products, differentiate goals and allocate energy accordingly.   Further expenses that Sandy and Jeni keep track of in their business.   Business performance metrics: numbers other than money that matter.   Make time to go over your numbers and let it be part of the ritual of running your company. Words of Wisdom: “The more you analyze and understand how you made that first dollar, the easier it is going to be to make your next dollar.” “If you’re not looking at this stuff, you’re really shooting from the hip and making decisions whimsically. And I love whimsy but not when I am talking about my business.”  Links Mentioned in Today’s Episode:  Bench Accounting — https://soulfulmbapodcast.com/bench Namastream — https://namastream.com/ QuickBooks — https://quickbooks.intuit.com/ FreshBooks — https://www.freshbooks.com/ Stripe — https://stripe.com/ Tezza on Instagram https://www.instagram.com/tezza/   Joy: Tezza App — https://apps.apple.com/us/app/tezza/id1393061654 Hustle: Start Finishing on Amazon — https://amzn.to/2LBeR2n

There’s a particular kind of ambition that isn’t just about scaling a business, but about building a life that feels whole and authentic along the way. That’s the space where Soulful MBA Podcast lives. Hosted by Jennifer Barcelos and Sandy Connery, this is a conversation between two friends who are actually doing it-navigating the messy, rewarding reality of creating a company from nothing. They talk through the logistics of remote partnership, the challenges of conscious online engagement, and the personal growth that happens when your work is deeply tied to your values. It feels less like a lecture and more like you’re overhearing a candid, strategic coffee chat between two people who’ve been there. You’ll find practical advice woven into stories of trial and error, all aimed at ambitious women who are done with the hustle-for-hustle’s-sake model. This podcast serves as both a roadmap and a reassurance, proving that a successful business can be built with intention, friendship, and a lot of soul.
Author: Language: English Episodes: 50

Soulful MBA Podcast
Podcast Episodes
122 Our Controversial Approach to Facebook Groups [not-audio_url] [/not-audio_url]

Duration: 17:58
We’ve got a complicated relationship with our Facebook Group. Every few months we have a serious conversation about shutting it down. Neither of us would ever choose to spend time on Facebook for fun, so our Group is rea…
121 What is a Beta Launch (and how can it help my business)? [not-audio_url] [/not-audio_url]

Duration: 34:25
In this episode, we explain the concept of beta launching—and why we encourage all of our clients to use this strategy to launch new products, programs, and service packages. You’ll learn why we think that releasing an i…
120 Finding Your Inner Voice with Kelly Covert [not-audio_url] [/not-audio_url]

Duration: 38:49
Kelly Covert is an inner voice coach with a passion for helping women believe and achieve their big vision by connecting deeply with the wisdom that is inside of them (all while owning their worthiness each and every day…
119 A Culture of Failure: The Story of Elizabeth Holmes [not-audio_url] [/not-audio_url]

Duration: 26:50
In this controversial conversation, we share our thoughts and feelings about the downfall of Elizabeth Holmes—the youngest self-made female billionaire in history. After dropping out of Stanford at age 19, Elizabeth foun…
117 The Biggest Mistake We See With New Online Teachers [not-audio_url] [/not-audio_url]

Duration: 23:55
We’ve been noticing FAR too much attention lately being placed on the technical intricacies of building a business. We, as humans, tend to obsess over the things we can easily control or measure (Equipment! Productivity!…
116 Building the She Recovers Movement with Taryn Strong [not-audio_url] [/not-audio_url]

Duration: 38:28
Taryn is the co-founder of SHE RECOVERS (with her mama, Dawn Nickel.) SHE RECOVERS® is an international movement of self-identified women in or seeking recovery from a wide variety of issues, including substance use diso…
115 Building a Marketing Empire with Emily Hirsh [not-audio_url] [/not-audio_url]

Duration: 37:04
In today’s episode, we interview Emily Hirsh—an industry leading Facebook Ads and Sales Funnel Strategist who works with high-profile entrepreneurs to grow their businesses online. In less than three years she has expand…
114 Do I Really Need a Sales Funnel? [not-audio_url] [/not-audio_url]

Duration: 27:11
If you’re working in the online sphere, you’ve probably heard the term “sales funnel” more times than you can count. But understanding what it is (and how it can help your business) is a whole other story. A sales funnel…
113 Growing a Family Maker Business [not-audio_url] [/not-audio_url]

Duration: 32:41
In this episode, we check in with Jeni about her family’s maker business, Woodland Alchemy. It’s now been a year since the seed of an idea began to germinate into a creative outlet, a family hobby, and (eventually) a loc…