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]

Are You Ready For a Tax Audit?

Are you at risk? The Canada Revenue Agency (CRA) continues to audit the following key areas, as these areas seem to be the ones of greatest error or non-compliance by small and medium sized businesses:

Denied expenses – CRA denies unsupported and non-deductible expenses. It is important to have proper and adequate documentation to support the expenditures.
Taxable benefits – CRA scrutinizes automobile benefits and other expenses such as travel expenses and phone and internet usage to ensure taxable benefits are attributed properly to employees.
Shareholder benefits – CRA continues to seek out personal expenses paid for and deducted by the business that should be denied or taxed to the shareholder. Taxpayers should carefully document the business purpose of all expenses and have practices in place to closely monitor shareholder accounts and credit cards to avoid these reassessments.
International compliance / cross-border transactions – Many business are unaware of the tax and reporting implications of conducting business outside of their country and engaging in certain financing transactions outside of Canada, including sales taxes, payroll and employee withholdings, and corporate tax reporting implications. For Canada and the US, there is information sharing and new processes at boarder security to more closely scrutinize cross-border business travel.
Sales & commodity taxes (or Indirect taxes) – There have been a lot of changes in the sales tax rules in Canada over the last few years, with significant changes affecting large businesses, cross-border transactions, pensions, and financial institutions. Many businesses are unaware of how these changes affect them. The CRA also continues to find and disallow ITC claims for expenditures with inadequate or improper documentation.
Non-arm’s length transactions – Whether domestic or international, if there is insufficient proof/documentation for the validity of the transaction between non-arm’s length parties (such as management or administration fees), the expense can be denied (but yet, the income still taxed in to the other party – resulting in double taxation).
Aggressive tax planning/schemes – Aggressive tax planning and abusive tax avoidance schemes are a global concern. The CRA has invested millions in its program to reduce aggressive tax planning or abusive tax avoidance schemes that contravene specific anti-avoidance provisions of the law. The CRA now has the tools to detect, correct and deter the non-compliance of taxpayers using aggressive tax plans, and there will likely be more audit activity in this area.
As part of this scrutiny, the CRA has recently sent notice that it will be increasing its audits of individuals who have claimed business or property losses. If you do receive an audit request letter or request for information, don’t sit on it or stick it in a drawer somewhere hoping it will go away or take care of itself (yes, people do this). Take the letter immediately to your accountant or tax advisor to assist you in dealing with it.

Not dealing with the CRA requests in timely manner can cost you hundreds or thousands or even more in additional taxes, interest and penalties, which can cripple a small business. But CRA auditors are people too – just doing their job, serving you, the taxpayer, as their client. You may have done everything correctly, or you may have made honest mistakes (CRA audits can be a great opportunity to learn and boost your tax management controls and practices). But be prepared. Talk to your accountant and ask them what your risks are and how you can reduce them.

[author] [author_image timthumb=’on’][/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 around money and taxes, by empowering heart-centered small business owners with the tools, knowledge, strategies and mindsets to put them in the driver seat of their financial success and wellness.[/author_info] [/author]

Gearing up for Tax Season

It’s that time of year again – Tax Season, and while some people are eager to get their taxes done early, many stress and wait until the last minute (or later) to get their tax return filed. So, how can you better prepare yourself for this coming tax season?

  1. Be aware of the changes in tax law that may affect you. In Canada, the changes that were made in the last year relating to the 2016 personal tax year include:
  • Children’s arts credit – The maximum eligible fees per child (excluding the supplement for children with disabilities) has been reduced to $250 for 2016. This credit will be eliminated for 2017 and later years.
  • Children’s fitness tax credit – The maximum eligible fees per child (excluding the supplement for children with disabilities) has been reduced to $500 for 2016. This credit will be eliminated for 2017 and later tax years.
  • Home accessibility expenses – You can claim a maximum of $10,000 for eligible expenses you incurred for work done or goods acquired for an eligible dwelling.
  • Family tax cut – The family tax cut (allowing income split allocation of up to $50,000 for families with children) has been eliminated for 2016 and later years.
  • Eligible educator school supply tax credit – If you were an eligible educator, you can now claim up to $1,000 for eligible teaching supplies expenses.
  • Canada Child Benefits (CCB) – 2015 was the last year of the Universal Child Care Benefit (UCCB). As of July 2016, the non-taxable CCB has replaced the Canada child tax benefit (CCTB), the national child benefit supplement (NCBS), and the universal child care benefit (UCCB). You may have received taxable UCCB payments up to June 2016 that you would have to include in your 2016 income tax return.
  • Sale of principal residence – Starting in 2016, the sale of a principal residence must now be reported on your tax return in the year of sale, along with any principal residence designation. Under proposed changes, the CRA will be able to accept a late designation in certain circumstances, but a penalty may apply.
  • Reassessment period – Under proposed legislation, for tax years that end after October 2, 2016, the CRA may at any time reassess your income tax return if you fail to report a sale or other disposition of real estate. So make sure you report those real estate sales, including the sale of your own house.

 

  1. Open your mail as it comes in and keep separate file folders if you have a lot of different types of slips. Every year I get clients who bring in their tax slips in unopened envelopes.  First, I wonder why they wouldn’t open their mail (What if the information on the slip is incorrect, or if it’s the wrong slip altogether? Or what if it’s a request that needs a response by a certain date?)  Keep like slips together. I recommend keeping separate file folders for different types of slips/receipts (such as charitable donation receipts, T4 slips, T3 slips, T5 slips, RRSP slips, medical receipts).  Please note that most slips will have been sent out to you by February 28th, but some (like T3 slips for mutual fund and trust investments) are not due until the end of March.  You can always log in to your online account with CRA to check for missing T-slips.

 

  1. Have all your tax documents and support in order. If you are self-employed (i.e., you run your business as a sole proprietor), or have interest in a partnership or rental property, gather, organize and summarize all your transactions into categories and put them in a spreadsheet (or on a piece of paper, or in a bookkeeping program such as QuickBooks or Freshbooks).  Accountants and tax preparers really do not enjoy getting a shoe box or grocery bag full of disorganized slips…and it can add a significant amount to your accounting bill since it does take time to go through them and verify with you the business purpose and category of expenditure they relate to.  The same goes for your revenue invoices and receipts.  The more you can organize and summarize yourself, the more efficient (and less costly) the process of getting your tax return completed and filed.

 

  1. Keep your business transactions and documentations separate from your personal documents. Always keep a separate business bank account, and if you make business purchases by credit card, I recommend keeping a separate card just for business purchases and don’t use it for personal items. It’s easy to get things mixed up, but the mistake of claiming personal expenses as business expenses can be a costly one when faced with a tax adjustment or audit.

 

  1. If you use your vehicle for business or work, keep a log of your business and total km’s travelled. If you don’t already keep a log, you’ll need some way of documenting and supporting your business usage claimed in your tax return.

 

  1. 6. Get your taxes done early. The deadline to file and pay your Canadian personal tax return is April 30th, without incurring penalties and interest on any amounts due.  If you are self-employed, June 15th is the filing deadline (but the tax payment due date remains April 30th).

 

The information reported in your tax return is ultimately your responsibility, not your accountant’s.  Therefore you should at least be aware of the rules that apply to you, so that you are comfortable signing off on your return before it’s filed.

 

Here are some helpful links to find further information:

For individuals – http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/menu-eng.html

For small business owners and self-employed individuals – http://www.cra-arc.gc.ca/tx/bsnss/sm/menu-eng.html

I also love taxtips.ca for their tools and calculators.

If you have a specific tax or business question you want answered, or would like assistance with your income tax return, feel free to send me a direct email at Linda@visionspire.ca.

You may also want to attend my upcoming workshop in Georgetown, ON on March 22, 2017 – Tax Essentials for Small Business, where I will be showing you essential tips and best practices regarding income tax and GST/HST compliance for small business in Canada.

 

[author] [author_image timthumb=’on’]ca/wp-content/uploads/2017/03/Visionspire-Linda-Spencer-Ontario-quote.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 around money and taxes, by empowering heart-centered small business owners with the tools, knowledge, strategies and mindsets to put them in the driver seat of their financial success and wellness.[/author_info] [/author]

3 Small Business Finance Hacks to Improve Your Cash Flow

twitterpost%2feventbrite-template-6 I have found that the biggest concerns of small business owners are Sales / Revenues. Cash Flow, Team and Support, Time, and Risk Management. These are all issues I help small business owners and solo-preneurs more in-depth within my CFO Money Mastery programs, but I’m sharing just a few tips to assist you with generating revenues, increasing your cash flows, and focusing your time and effort.

  1. Pay yourself FIRST

When was the last time you looked at how much your business is paying you (or you’re paying yourself), compared to what you’d like to be paid (or at least need to be paid to cover your cost of living)? Pay yourself and your business first – build up a cash reserve policy and practice so that you can deal with repairs/replacements when they arise.  Here are some things to look at:

  • Try putting at least 10% of every dollar you bring in into a savings or special purpose account. If you feel you can’t do 10% right away, try 5%, something, anything, that is automatically put away each month/week into a separate account that earns more money (interest, dividends, capital gains).  You’ll see how quickly that account starts to grow and how much you can accumulate in a relatively short amount of time.
  • Know what you’re paying yourself for your time, and what you would like to get paid for your time. The simple formula for finding what you’re paying yourself in your business is to take your revenues, less all your expenses, divided by the number of hours you spend in your business.  What is that?  What percentage of revenues is this, is it what you’d like to receive?
  • Review at your pricing strategies – this ties into paying yourself. Make sure that your pricing strategies include paying you for your time and effort.  Understand what products and services are most profitable, or which ones could be more profitable.  Review your profit margins and give yourself a raise.

2.  Streamline your profit model You’ve all heard, jack of all trades, master of none?  While it’s good to have some diversification, when you have so many offers that are not streamlined with each other, you could be spreading yourself thin trying to market all of them.  But, when you start with your top end offer, and have everything else streamlined to that offer, your attention and efforts are more focused and aligned with selling the top end product. But how do you streamline when you have so many great ideas coming to you?  There certainly are ways to do this, and I offer a half day session on brainstorming ideas and putting them into streamlined offers, but here are a few key questions when you find yourself coming up with a ton of ideas and wanting to serve them all:

  • Is it even for you to create and run with? Or should it be passed on to someone else? This happens to me – I get a ton of ideas, but realize that some of them are not for me and will end up having a conversation with someone who I’m supposed to pass the idea on to.
  • Is it asking to be created/offered right now, or later? If later – park it in your idea book and review it later. If it’s asking to be created now, through you, run with it.
  • Is it aligned with the bigger picture for your business? Is it something that can be added to what you’re already offering – as a bonus or as a side dish that you charge for?

If you have a ton of offers, but seem to be spinning your wheels trying to generate revenues with all of them, try focusing on just 3 things that give you the most profits and cash flow, at least for 90 days.  You’ll see with more focused attention and marketing/selling efforts, your revenues may actually increase.

3. Track your money daily! Why daily?  It allows you to spot trends in your revenues and sales numbers so you know what your numbers are telling you.  That way you can  take corrective and inspired action right away to create more flow and hit or exceed your bold money targets. In my experience, in the months I don’t track what’s coming in daily, I have less revenues than the months I do track what’s coming in daily.  Tracking my money daily (which takes less than 5 minutes a day) gives me focus to do what I need to do to have more coming in, to hit and even exceed my bold money goals. It IS best practice (and good management) to keep your bookkeeping up to date and review your financials at least monthly.  Managers at large corporations review financial data almost daily (even hourly in some cases) to allow them to spot trends and take action to align their efforts to their targets.  As a small business owner, key metrics that you’ll want to look at are sales and profitability, cash in bank accounts, cash tied up in AR, amounts coming due (AP, Payroll, Taxes) in the next week/month, expense trends (which you can find benchmark data on Statistics Canada (or other similar statistical database for your area) to find out how your metrics stack against other businesses in your industry), and anything that is important/relevant to your particular business that will enable you to make timely and smart money decisions for your business.

 

What you track, expands. We’ll be going into more depth in these 3 hacks and SO MUCH MORE in the CFO Money Mastery 8 Week Jumpstart program (which kicks off Nov 22nd with a special bonus session). If you would like clarity and assistance with creating more flow in your business, contact me to book a complimentary Business Clarity Breakthrough Session.  Or check out one of my upcoming workshops or group programs on the Events page.

 

[author] [author_image timthumb=’on’][/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 around money and taxes, by empowering heart-centered small business owners with the tools, knowledge, strategies and mindsets to put them in the driver seat of their financial success and wellness.[/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)

 

 

Money Conversations – They Don’t Have to be Tough!

How much do people owe you?  How long has it been outstanding?  How much more ease would it create to have than money in your hands now?

MoneyConversationsVisionSpireBusinessConsulting

I used to have a really hard time asking for money from people who owed it to me (and I hated making those collections calls as a student working in Accounts Receivable), and I still do to some degree, especially with loved ones and when I know the person is struggling.  But it does nothing for my cash flow to not have in coming in (and can actually create financial hardship for myself)…so I’ve learned how to have those courageous conversations to collect the money that people owe me for the services I’ve provided them, to create more ease for me.

When it comes to collecting money, having money conversations can be tough, but they don’t have to be.  

Here are some tips for diffusing the anxiety around money conversations:

1 – Be clear in the outcome you want.

2 – Have compassion and grace.

3 – Put yourself in the other person’s shoes for a moment to have an awareness of them and their energy.

4 – Hold the other person as powerful that they can pay you what they owe you with ease and grace, right away.

5 – Connect with the person and invite them into conversation.

6 – Ask for the money, respectfully and graciously, reminding them of your terms of agreement.

7 – Get their payment or commitment to pay (preferably in writing), and get their payment details to set up automatic payments.

8 – You can be bold and powerful in your conversation, but have some lightness at the same time.

 

I shared these tips on DAY 1 of my FREE online SHOW ME THE MONEY 4-Day Challenge that kicked-off this morning.  One of my clients used these tips in my 8-Week CFO Master Jump-start program and collected $70,000 of outstanding debt in 6 weeks!  How amazing is that?!

It’s not too late to join in on the FUN of re-ENERGIZING Your cash flow in the SHOW ME THE MONEY 4-Day Challenge that runs July 25-28, with replays available until August 8th.

Why NOT make money fun?? We’ve had so many years and lifetimes of making money serious and being in the head-space of “not enough”…it’s time to get out of that space and into the fun abundant space that truly exists!

[button link=”http://54.82.103.175/showmethemoneychallenge2016″ type=”big” color=”green” newwindow=”yes”] CLICK HERE TO JOIN THE CHALLENGE![/button]

 

If you find yourself struggling with money conversations and are ready to change that, I’d be happy to help…book your complimentary Money Clarity Session with me to see how we can work together to empower your money conversations.

Complete the following form to book your Private Money Reading and Insights Session with Linda (you will then receive an invoice and a link to book your preferred time)

How can I help? What are your top 3 business finance/money issues that you would like solved right away?

CFO Money Mastery – 8 Week Jumpstart Course

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CFO Money Mastery – 8 Week Jumpstart Course

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You, yes, YOU are CFO (Chief Financial Officer) of your business (unless you’ve actually hired one, but that is the exception with a small/micro- business).

You, as CFO (not your bookkeeper or accountant), are ultimately responsible for all financial aspects of the business, including costing and pricing, testing and validating business assumptions, and all reporting and compliance matters. As CFO, it is your role to ensure that your business funds are being managed appropriately and that there is adequate cash flow and capital for the business, that spending is under control, and that you (as CEO) are not driving your company forward recklessly.

Would you like to:

  • Make more money and better manage your cash flow? 

  • Understand your business finances and make them work for you? 

  • Have a system for creating more ease and flow in your business? 

  • Get out of the “not enough” cycle and into the “abundance” cycle?

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This program was designed just for you – a micro-business entrepreneur who doesn’t have a degree in Finance, and is feeling overwhelmed and struggling with making your money and finances work for you.  You may have a bookkeeper and or accountant to compile your numbers and do your taxes, and although you should be working closely with them, they may not be helping you to understand what your numbers are telling you or how to use them to grow your business.  As the CFO of your business, you need to be empowered to make smart business decisions based on your financial results on a regular basis (and I don’t mean just once or twice a year).

This program will help get you started.
Over the course of 8 weeks, you will:

  1. Clarify your business vision and learn how to operate from where you’d like to be;
  2. Get a clear picture of your current finances and what the numbers are telling you;
  3. Discover insights into how you do money and your money gaps.
  4. Create your business profits model to for more flow and flexibility, and stop spinning your wheels when it comes to creating new offers.
  5. Learn how to price for value and set empowered money boundaries to get paid more and on time;
  6. Acquire tools and strategies to create a never-ending cycle of growing cash flows;
  7. Learn how to more easily make smart financial decision for your business; and
  8. Empower yourself with systems and strategies that will get you unstuck and out of overwhelm.

You will also be added to a private Facebook group exclusively for participants of this program, where you can post questions and insights, and call on me and each other for support (or you can email me directly with your questions).

The program starts Monday, May 9th, and will run for 8 consecutive weeks, consisting of 90-minute sessions (via webcast or telecast), on Monday afternoons from 2pm-3:30pm EDT.  The links will be posted on the private Facebook group, as well as emailed to you each week.  There will also be a program pre-call scheduled for the week before May 9th (date and time yet to be determined).

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I want you to be set up for success!  As an added bonus, you are invited to receive a private 60-90 minute strategy session for $200 off the price I normally charge ($300 instead of $500) to get you into inspired action in one or two areas that are causing you the most stress with your business finances.

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Areas that I have worked on with clients include:

  • overall business strategy
  • profit models
  • pricing for value
  • getting paid
  • overall cash flow strategies
  • creating packages that sell
  • systems and business process improvement
  • networking and marketing strategy
  • attracting the right clients
  • team support and management

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KNOWLEDGE is the key to EMPOWERMENT and INSPIRED ACTION is the key to getting the results you desire!

So, won’t you join me on this 8-week journey to jumpstart your CFO Money Mastery.

YES!  SIGN ME UP!  (Complete the attached registration form and send it back to me via email at Linda@visionspire.ca)

For this inaugural 8-week experiential CFO Money Mastery Jumpstart tele-class program, you pay only $298.

BUT – this is a one-time only offer…when I launch this program again in the Fall, the price will be over $1000.  My private consulting & mentoring clients pay $4000 or more for what I’m offering in this course.  I certainly don’t want you to miss out on this amazing opportunity for creating a more healthy relationship with your business finances.

SIGN ME UP NOW! (Complete the attached registration form and send it back to me via email at Linda@visionspire.ca)

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Have questions?

Send me an email or give me a call!


FAQ’s

Is this for you?

I want to work with entrepreneurs who are motivated and committed to creating impactful results in and with their business.

This program is for you if:

– you are ready, motivated and committed to creating a healthy relationship with your business finances
– you are willing to be brutally honest with yourself and your money situation, and you really want to know more about your business finances and how to use your numbers to grow your business and your cash flow
– you are tired of the time and cash struggle
– you want to stop spinning your wheels when it comes to creating new offers (without spreading yourself too thin) and how to price them for value

This program is NOT for you if:

– you already have a great relationship with your finances and you know how to use your numbers to make smart business decisions
– you are not ready, motivated and committed to create change
– you think this program will magically fix your money problems (no, it won’t – you need to make changes and take INSPIRED action for that to happen).
– you tend to enrol in programs but not do the work to create impactful results (don’t waste our time then – I only have 8 spots available and there are other entrepreneurs who are ready, willing and committed to doing the work)

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What is the time commitment?

There will be live calls/meeting for 8 Mondays starting May 9th from 2pm – 3/3:30pm.  The calls will be recorded and made available within 24 hours, so if you can’t make the live call, no worries.  You will be given exercises and action challenges each week as part of the program.  This is your business, and it is up to you to how you want to participate…you get out what you put in. 

What if I can’t make it to the live call?

No problem – all sessions will be recorded and available within 24 hours to replay at your convenience

Will there be handouts or a workbook?

Yes, I will send the materials need for a particular call the day before the call so you can print them and have them ready to participate. 

What if I have questions during the program?

Once registration is confirmed, you will be added to the program’s private Facebook group.  You can post your questions there, where I will answer them same day.  Alternatively, you can send me an email or private Facebook message and I’ll respond within 24 hours. 

I’m interested, but I don’t think I can fit it in my schedule?

I hear you – As a single mom with 2 school-aged boys and running my own business to support them, I’m faced with the same dilemma whenever a growth opportunity arises for me.  But, personal and professional development is really important to me, and I tend to be enrolled in at least 2 programs at any given time…the point is, you find time for what’s important to you.  Money is a relationship – should it be any less important than any other relationship you have?  And let me ask you this as well – what is not having a healthy relationship with your business finances costing you?  Can you afford NOT to take charge and invest in yourself and your business right away?  This program is a very small investment for thousands of dollars worth of business consulting and mentoring.   

Why is the investment so low?  It sounds too good to be true…

This is the first time I’m offering this particular program…it’s in Beta format.  Because of the small class size, you get my full attention and expertise, and you get to contribute to making this program great with your honest feedback and participation before I launch it in the Fall on a much larger scale, for a much higher investment.   

How do I register and make payment?

All you have to do is complete the attached registration form and email it back to me (Linda@visionspire.ca).  Once registration is confirmed, I will send you the program agreement and invoice for payment that you can pay by credit card, e-transfer for cheque according to the payment instructions listed on the invoice. 

Why would I choose you?

I’m not your typical tax accountant…just 3 years ago, I was married and had a dream job managing the North American tax function of a large multi-national corporation.  But I knew even more was possible for me…three years ago I asked for a divorce and claimed my freedom.  What happened next was beyond my imagination:  I got divorced, found love that was beyond anything I had experienced before, put myself out of a job (an orchestrated exit), traveled three continents, found soul family all over the world, started a business and published a story all in the span of 24 months.  Beyond my 20 years training and experience as a CPA and tax specialist, I have had the privilege of being trained and certified as a business coach, with particular emphasis on business and marketing strategies to streamline business processes and attain greater profits and cash flow more quickly (they don’t teach you this in accounting degree programs!).  I combine these tools with my intuitive abilities to not only see what’s possible, but to create the action steps to make it a reality more quickly.  Not only do I teach this to my clients, but I use all these tools and practices in my own business, and WOW!  has it ever made a huge impact in my results, and in my way of being.  I am definitely NOT the same person I was 3 years ago, thanks to some great coaching along the way…and I am so appreciative to be able to share these tools and gifts with my clients.

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Gap Analysis – it’s a matter of perception

When you take the time to look at things from many angles you not only expand your awareness, you multiply your opportunities. r2g-p5-ai7-Dont-Wait-web

Think of your business as a road trip (and not the scenic kind – you’re on a mission!).  You identify where you want to go, where you are starting from, the fastest route, alternate routes, what you need for your trip, and start navigating your way to where you want to go, in the most efficient way possible.   In this series, I help you get clarity at the different steps of creating and navigating your road map to business success.  This is the third installment of this eight week series. 

In last week’s post, you determined where you are currently in your business.  This is your starting point, point A of your road map to success.  So now you know where you want to go (point B, determined in Step 1 – Start with the end in mind), and where you’re starting from (Point A, determined in Step 2 – Know where you are now), the next step is to figure out what you’re missing and need to put in place (Step 3 – Analyze the gaps between where you want to go and where you are now) in order to effectively build your action plan for how you will achieve the goals you set for your business in Step 1 of the 8 steps to create your road map to success.  (By the way, If you missed my 8 Steps to Building your Road Map to Success post, or the posts for Step 1 (Kick-start Your Year with Clarity and Focus) and Step 2 (Do You Know Where You Are?), you can get them HERE.)

So, what are you missing?  Where do you need to invest more time/effort/resources. What skills and training do you need to develop/upgrade?  Where do you need to shift your time and resources?  What money and success mindsets and habits do you need to adopt to help close those gaps?  What systems and automation do you need to help you run your business more efficiently?  What support do you need, from who?  Who do you need to add to your team?

This is an exercise in self-awareness and being truthful with yourself.  It’s not about figuring out how to do it all yourself, or how to get all your tools into your tool chest before embarking on the adventure or your business, but rather, it’s about identifying what you know to be missing to get you from point A to point B in your business.  Sometimes, the gap is filled by hiring someone (staff or outsource) to do certain tasks for you, allowing you to spend your time more efficiently on the tasks that you are a specialist in and that will generate revenues for you. Sometimes, the gap is filled with the tools that you will acquire along the way in your adventure.

When you take the time to look at things from many angles you not only expand your awareness, you multiply your opportunities.  When I took the time to look at what I was missing, and how I could fill those gaps (from many different angles, asking many questions to help me see the big picture, along with all the details), I realized that a really big skill that was missing for me was effective marketing using social media.  You see, I consider myself a great student.  I learn quickly and typically recall things quite easily.  However, when it comes to marketing with technology, I tend to flounder and have to work extra hard to understand how make it work.  I’m just not technologically savvy, no matter how much training I’ve had with it so far.  Taking a different view, and a shift in mindset from doing everything myself, instead of spending a lot of time and money to try to master this skill in marketing with technology, I will instead focus my time and energy on what I’m an expert at.  For 2016, this has led me to seek the counsel of a marketing specialist, to learn some key strategies and processes, and HIRE someone to execute the best strategy for me.  As a business advisor and coach, I’m continuously learning new skills and content to create value for my clients. My mastery is in creating and delivering great content to clients as it relates to money mastery in business. The marketing must be done, but it doesn’t all have to be done by me…and I get to multiply my opportunities to create 🙂

When you expand your awareness of the gaps in your business, you find more opportunities to close those gaps. So look at where you want to go with your business, and what’s missing from your tool chest to get there, ask key questions and focus on taking inspired action to close the gaps to realizing those business results that you want to achieve! 

If you would like assistance or clarity in building your business road map to success, contact me to set up your complimentary Business Clarity Breakthrough Session, or ask for my Business Management Assessment Questionnaire to help you identify the gaps in your business.

PS – Speaking of content and creating value, I’ve been working on a great new line up of workshops and programs for small business owners to help them master their business cash flows more effectively and efficiently.  Watch for our calendar of events and MARK YOUR CALENDAR – the next one is coming up on February 29th (registration opening soon)!   Get on the VIP Invitation List to receive added bonus offers that will not be offered to the general public (in fact, the only way to get these special offers is to be on the VIP Invitation List)VIP List