The content of this blog is intended for educational purposes only. It is not a substitute for professional advice. Always seek the guidance of a qualified professional before making any financial decisions. The advice provided is general in nature and should be tailored to your specific entity type and individual circumstances.

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You did it! You came up with an idea and started your business. Whew... hard work done! Now sales are starting to come in, you are cranking out the much-desired product or service. Then one day, someone calls to see if their payment went through, or if they still owe you money. You start looking everywhere to find the information, but it is in that red notebook that is SOMEWHERE. Also in that red notebook are the receipts and tally of everything you have spent so far.. Now what?!

Lucky for you, my expertise in business and accounting far surpasses my skills in writing and design. As the proud owner of an accounting firm for over 14 years, I deeply love what I do. However, I craved a creative outlet, which led me here. The best tips are just a scroll away!

I will break down tips for service-based businesses vs. product-based businesses. A service-based business is one that provides services to customers rather than tangible products. These businesses focus on delivering value through their expertise, skills, and labor. Think of accountants, bookkeepers, consulting firms, freelancers for web-designers. A product-based business focuses on creating, producing, and selling tangible goods to customers. These businesses generate revenue by selling physical items that customers can see, touch, and use.

Overall business tips...

• CREATE PROCESSES. I know when you are just starting out and a one person show that is the last thing you want to do or think is important. but I promise you... it will save you so much headache years down the road. I wish I would have done this from the beginning.

  • While creating these processes, keep in mind that they don't need to be elaborate. However, consider future needs as you develop them.

  • Your processes serve as a guide. They’re not set in stone but reflect how you want things done. As your business grows and evolves, these processes will too, and that's perfectly okay!

  • Setting these up from the start will ease the transition as you delegate tasks to employees and contractors.

• Establish a filing system that suits your needs. For example, you could create a main folder named "Receipts," and within it, organize subfolders by month or vendor. Additionally, consider having a dedicated folder for "Customers" or any other categories that make sense for your workflow. Find what works best for you!

• Develop a consistent naming system for all documents. I worked for a CPA over 10 years ago who was meticulous about file names. Initially, it felt cumbersome, but now, over a decade later, my employees use the same method. It simplifies finding documents. TRUST ME, it saves HOURS of searching.

• If you have a service-based business, track your time meticulously, even if it means switching between 10 clients a day. I cannot stress this enough. As you grow and take on new clients, tracking your time helps you price your services accurately. I've had clients in business for over 10 years who realized they needed to hire employees but, because they hadn't tracked their time, they had no clue whether they needed part-time, full-time, or specific types of staff, or what they could afford to pay them. We track our time daily. This time tracking directly influences payroll and client invoices. Additionally, I can conduct detailed analyses to determine which services are most profitable.

• Do not let all of your tasks live in your head, trust me, things will be forgotten. When you need to do something, put it in a task list. I am more of a paper and person kind of gal when it comes to this. As much as I love technology, I always go back to paper and pen. I created these templates to help keep track of everything I need to do. In addition, I created note pages that has been an absolute game changer when it comes to taking notes. Filling out the information at the top has helped me to stay organized and not lose notes. I don’t feel as scattered.

  • If you are interested in them send me a message and let me know you found them from this blog and I’ll give you a 50% discount.

I know this is a lot of information, and I hope this is helpful to you with your next steps in your business. You’ve got this! Don’t let this part of it stop you from growing, or even starting your business. The sky is the limit!

Keep checking back for more business tips and let me know if this was a helpful guide!