What to do with Your Ideas

If you’re like me, then you have ideas coming into your head all day long.  And frankly, it can be quite distracting, contributing to the “squirrel syndrome” of chasing ideas and not getting things done on your daily list.  The question becomes, what do you do with all those ideas?

The answer is Vision and Focus.

When you are clear in your vision, in what you’re here to do, what your priorities are, it’s a lot easier to discern whether an idea has a place in contributing to that vision, or whether it should be released into the wind for someone else to pick up.

It doesn’t matter if you’re a business owner, employee, stay-at-home mom (or dad), we all have a greater vision for what we’d like our life to BE like, for what we were born to do here in this lifetime.  For me, that vision is a world that lives in greater joy and harmony that exists today.  Then you choose the vehicle for which you will contribute to that vision.

Until few years ago, my vehicle was a full-time job where I helped my team and clients reduce stress and anxiety over tax laws, allowing them to have more joy and harmony in doing their own job/business.  Currently, my vehicle is my business through which I inspire and empower people to have more harmony and joy with money and finances…which has a positive ripple effect into other areas of their life (health, relationships, family, community, contributing to their vision).  I do have another vehicle – one that involves meditation and writing.  With this vehicle, I inspire others to see greater possibilities beyond their current reality – one with more joy and harmony than they have today.

Just like the car you drive, that vehicle can change over time, but the vision doesn’t. 

So, what is your VISION?  What IDEAS are you generating that are in support of that vision?  And what ACTIONS are you taking to transform those ideas into meaningful contribution to your vision?

[author] [author_image timthumb=’on’]http://54.82.103.175/wp-content/uploads/2017/06/Linda-Spencer-Visionspire-cropped.jpg[/author_image] [author_info]Linda Spencer is a CPA, CA, Canadian Tax Specialist and Money Mindfulness Coach. Her mission is to eliminate stress and anxiety people experience around money and taxes, by empowering them with the tools, knowledge, strategies and mindsets that will put them in the driver seat of their business success and financial wellness, so they can have more harmony, joy and abundance in their life.[/author_info] [/author]

For more information on Linda’s upcoming programs and workshops, visit the Events page.

What’s love got to do with it?

Money represents so much more than money…it IS a relationship…which is the way you BE with Money.

And fear of money, really is a mindset…instilled in us from an early age in our childhood, and through societal, culture and political views.

Even the education system has taught us to get good grades, go to university, get a good job…otherwise you’ll struggle – instilling fear of lack, or a lack mentality.  When really, isn’t ANYTHING possible?

So what happens when we change our mindsets?  And when I talk about mindset, I’m really talking about heart-sets (did you know – our heart contains 40,000 neurons?  That means the heart has consciousness and can affect the way our brains process information and how energy flows through the body).  It’s one thing to think something, but it’s another to have that in your heart – you not only think it, you feel it. So, when you start thinking with your heart (adopt heart-sets), from a place of love, it changes the way you be.  Ever see the video showing the love-hate-ignore experiments on plants and water?  (No? – I highly recommend looking them up)

What’s love got to do with money?

Think about this mindset:  “I love what I do, but it’s not about the money!” 

I’ve heard this from a few people, and in fact have said it myself in what feels like a previous lifetime (but really was only 10 years ago).  What happens when we say it’s not about the money?  You’re really saying you don’t care about making money, and therefore energetically, money won’t flow to you. This can result in a lifetime of struggle – burning the candle at both ends trying to make ends meet, doing what you love…when suddenly, you no longer love what you do.  BUT, when you shift your thinking to Money being like a person, you suddenly shift how you think about Money, and you’ll want to create a relationship with it in order to have it around you.

Adopting new and empowering heart-sets become a catalyst for new behaviours and taking new actions – they jolt you out of your comfort zone and cause you to take a different action that is in alignment with your heart’s desire….Adopting empowering money mindsets create confidence and authenticity with how you make financial decisions, creating greater wealth, abundance and freedom…freedom to create even more of your heart’s desire. 

What would it be like if Money was your friend, your lover, your child, your customer (whom you love dearly)?  Would you be more compassion, caring and attentive to your Money?

Want to know more about improving your money relationship?  Check out our upcoming EVENTS.

 

[author] [author_image timthumb=’on’]http://54.82.103.175/wp-content/uploads/2017/06/Linda-Spencer-Visionspire-cropped.jpg[/author_image] [author_info]Linda Spencer is a CPA, CA, Canadian Tax Specialist and Money, Marketing & Soul business coach. Her mission is to eliminate stress and anxiety people experience around money and taxes, by empowering them with the tools, knowledge, strategies and mindsets that will put them in the driver seat of their business success and financial wellness.[/author_info] [/author]

Know Your Numbers

In my 20 year career as a professional accountant and now business coach, I have worked and talked with hundreds of entrepreneurs.  I’ve seen many grow their business exponentially, and I’ve seen some fail.  Many entrepreneurs have told me they’re struggling to make ends meet.  When I ask them if they know how much money they’ve made and spent in the last 6 months, or if they have a plan, almost all of them say no…they don’t track their numbers (many handing over all their receipts for the year to their accountant at tax time), or if they do have their bookkeeping done, they don’t look at the numbers.  Many tell me that they don’t look at their numbers because they don’t know anything about finance, dealing with finance/money stresses them out, and/or they don’t have time.  This certainly backs up the statistic that over 85% of business failures can be attributed to a lack of financial planning and organization.

If you want to have financial wellness and abundance, one of the essential keys is to know your numbers and what to do with them so you can take the appropriate action in line with your business (and life) objectives.

If you don’t track and review your numbers, how would you know how you’re doing?  How would you know if the products you’re trying to sell are making you money?  How would you know if your marketing and sales efforts are paying off in profitable returns?

What numbers could you be tracking?  Literally, hundreds.  But here are some key financial numbers that every business owner should know and understand:

  • Cash in, cash out, net cash flow – What do you bring in, spend, and how much is left each month?
  • Collection rates – How long does it take you to get paid? Do you have policies and processes in place to ensure you’re getting paid on time (or faster)?  Statistics show that any money owed to you that is more than 90 days old likely won’t be collected.
  • Cash burn rate – How fast do you burn through your cash on hand? Typically, you want this to be 3 to 6 months.  It’s a fast track to failure if you don’t have cash to meet your next payroll.
  • Revenues – Are your sales increasing? Decreasing? Are you hitting your targets?
  • Product and Client profitability – How much money is each of your products/services and clients making you…you want to focus on the profitable ones, and let go of the ones that don’t make you money.
  • Gross margin and profit margin – Compare your margins to plan and industry averages – how are you doing? Do you know how much sales you have to make for every dollar you spend in order to have the profits you’d like to have?
  • Capital spending and Return on Assets (ROA) – What are you investing in your business (and do you have a plan for this)? Are the assets you’re buying making you money?
  • Cost of client acquisition – What is it costing you to bring on a new client [=total marketing costs/# new clients]?
  • Return on investment (ROI) – Are your investments making you money, and how much? You can look at this not only from actual investments in stocks/funds/etc., but from every expense line and every effort you make. For example, you may want to know the ROI on your investment in your learning, investment in marketing and advertising efforts, or investment in people.

Whether your focus is on marketing, sales, productivity or profits, you need to track the appropriate numbers and review them on a regular basis to make sure you’re on track with your plans.  By looking at your numbers, and understanding their story, you can then identify the money/productivity leaks and opportunities on which you can take action to grow your business and your profits.

Every person has the opportunity to have financial wellness and abundance.  The difference between the 30% of the population who thrives financially, and the 30% of the population that struggles to survive, is that those who thrive have a plan, track and review their numbers, and take inspired action to grow their net worth.

Your numbers tell a story.  They tell you where you’re making money, where you’re losing money, and whether your efforts are paying off.  Do you know what story your numbers are telling you?

If you would like to empower your financial wellness and abundance, and get to know you numbers better, I can help.  Drop me a line and let’s talk.

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[author] [author_image timthumb=’on’][/author_image] [author_info]Linda Spencer, CPA, CA Certified Money, Marketing & Soul Coach [/author_info] [/author]

What is a Money Story?

Ever run away from your finances?  Put your head in the sand perhaps, and hope it all works itself out?  Or do you dive right in and play with the numbers?  Is it a game?  Do you take your money seriously?  Have you tried every trick in the book, but still come up hitting a wall on how to get ahead of your bills?

Everyone has a money story, ones that keep you safe, ones that have you spending more than you’re making, or watching every dime that comes in or goes out, ones that have thinking there’s never enough (even though you may be doing really well financially).

What’s Your Money Story?
“It’s really not about the money…I just love what I do”
“I can’t afford to…”

“Money makes you evil, greedy, selfish…”
“I don’t want to become THAT person who has money”
“It’s hard to make money”
“I can never seem to get ahead”
“I could never make any more than I do now”

“There is never enough…money leaves as fast as it comes in”
“I wish money didn’t exist”

“Money will take care itself”
I know I should be paying attention to my finances, but I don’t have time”
“I’d rather be ____, then doing my finances”
——————————————
Money stories like these can: 
  • keep you playing small and afraid to step into something bigger
  • prevent you from making necessary investments in your business and yourself
  • leave you feeling over-worked and under-paid
  • leave you exhausted, burning the candle at both ends just to pay the bills
  • lead you to give your power away to others and cause resentment
  • lead you to think you have more money than you actually do
  • have you ignoring your finances in a big way, potentially leading to financial failure

 

A money story is the combination of thoughts, beliefs and behaviours that are dictating the way you do money, and they may or may not be in alignment with your core values and priorities.  The good news is that you can create whatever money story you want – preferably one that gives you freedom of choices and grows your net worth.  The first step to changing your money stories is having awareness of what they are in the first place.

How do you know what your money stories are?  Look at where you are spending your time and money…and ask “Who’s is this?  Where does it come from?  What stories am I running here?”.

Want to change your money story?  Attend a money story workshop (there’s one on September 21 in Milton – Re-Set Your Money Story).  Or book a session with me.

  • Uncover money blocks and discovery how you do money on  a spiritual or energetic level;
  • Transform your beliefs and actions with money right away;
  • Learn practical tools for creating awareness of money patterns so you can change them.

 

Learn More about the September 21 Re-Set Money Story Workshop (click the workshop title, or type this URL in your browser:  http://54.82.103.175/moneystoryworkshop)