Preparing for your tax return got you stressed and overwhelmed? How do you want to feel this time next year??

If you want to feel differently this time next year - NOW is the time to make some changes. Let me tell you why & how (and how this article came to be).

During an afternoon rest period, sweet Sadie was using me as her personal 'rest nest'... I was reflecting on the last few weeks and it occurred to me just how very tired I am right now so I decided to share my thoughts on a better way for us to do things this year.

If you don't feel totally great (like nothing stressful happened whatsoever) in preparing to file your taxes this year, you are going to be SO glad you hung with me on this. 

I am going to save you so much work, worry & stress this time next year... and more importantly, I am going to help you learn about your finances and be in MUCH better shape the entire year ahead.

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I am going to let you in on a little secret.

I generally absolutely love helping people get their business finances in order. Get their system set up and running, get it organized. I absolutely thrive on teaching people how to use their systems, how to interpret the reports they get out of them, how to understand their finances, so they know whether they're profitable or not, so they can understand where their money is coming from and where it's going. I mean, I really, really love that because it's the foundation. I mean, if you're not in business to make money, what are you doing?

So, here's my little secret.

I am tired. I am SO so tired because I have been so busy these last few weeks helping people get their finances in order so that they can file their tax returns. And it is honestly as miserable for me as it is for you at this point because it gets so backlogged and becomes a huge project and it's just something that “has to be done” because the government says we have to file a tax return, right?

So the process is painful. We're digging back into receipts to find out what it is that we spent money on at Walmart in March of last year, and stuff like that. Digging back through our emails to find receipts and I mean, it's painful. It's just so painful.

And you know what?? That is NOT what your business finances are supposed to be about. I get why this just sucks because quite frankly, it sucks for me too. I'm in this to help you… that's my job but it is not fun when you wait until the last minute and you only are doing it because you have to file a tax return. That is not the purpose of your business finances.

The purpose of keeping track of your finances throughout the year is:

• - to make sure you understand where your money is coming from

• - how much money you're making & spending

• - what the trends there are (are there months you make more and months you make less, for example, or months your costs are significantly higher)

• - are you charging enough 

• - is your business' net income enough to pay yourself the salary you intend to generate for your household and personal financial goals

…you cannot know all of these things if you're not keeping track and if you don't understand your financial reports.

I WILL HELP YOU! I am not a bookkeeper. I am a systems expert and a small business finance expert. I will teach you (and your staff, if appropriate) what you need to know and I will support you as needed to make sure this doesn't fall to the wayside.

If you've worked with me at all on this already, you're already in a better place but it is something that people enjoy so little that oftentimes it just gets pushed to the backburner.

And, not only is the process of getting caught up at the end of the year painful but what is also painful sometimes - oftentimes – is when you haven't been keeping up is to look at what you actually made and say “holy crap”. I can't believe that I worked as hard as I did all year and I only made _______. (Or worse, I made nothing at all after expenses!)

I just can't tell you how often I have people come to me making little to no profit… their businesses might be making hundreds of 1000’s of dollars a year, but their profitability is little to nothing, and sometimes they're not even taking a salary. The biggest reason for this - right out of the gate is they don't know what's going on with their finances.

Once you know better - you do better. Until then you are operating in the dark.

So anyway, a little bit of a tire rant here today.

But the point of all of this is just to say if you're one of those people who waited until the last minute and you managed to get everything pulled together so you could file your tax return, and it was as miserable as you expected it to be, stop the madness. Just stop the madness!

Make an appointment with me. Let's get you set up & get you organized. Let’s get you educated about what's happening with your finances right now.

We will take a first quarter look back so you know where you are and get you ready for a whole different way of doing things this year. Let's just do it.

You're going to be so glad you did.

And you know what? I'm going to be glad you did too, because you and I will not be the ones banging our heads together this time next year just trying to get caught up.

• - You'll be making money (profit!)

• - You'll be setting money aside to pay your taxes

• - You'll have no surprises

• - You're going to be doing so much better financially

• - You're going to feel in control

It's just a win all the way around. So set up an appointment.

Let's get this thing rockin' once and for all. Let's do it.

Let's not feel this way again this time next year!

Here’s a link to schedule a call so we can make a plan for you –

👉 Book a free consultation call

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If you enjoyed this post and would like to keep in touch…

👉 Please join my community using the button below -
and receive a copy of my powerful mini eBook
How to Get Sh*t Done: 10 Productivity Hacks to supercharge the way you work

~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Could you use a little help?

Working with an expert when making important decisions in your business is a powerful tool to create significant growth and lasting change. It really helps to see things from a fresh perspective and consider ideas and concepts that may not come to you on your own.

It’s not necessary or important for you to know how to do ‘all the things’ in your business. What’s important is who you have on your team and what THEY know that you can use to your advantage.

If you would like to explore working with me, I invite you to schedule a Discovery Call. 👇

Why the Cloud is the best place for your business documents & data

Let me tell you a story  ~

About 15 years ago, I had a computer catch fire right on my desk! (faulty internal fan😳) Fortunately I was right there to deal with it but I lost ALL my precious photos and tons of important documents and information. Everything.

I learned a very painful lesson and began searching for better ways to protect my data. At the time, the best and most accessible solution was external hard drives and manual backups. Before long though, I had an external drive die (again with all my data on it) Fortunately that time, I still had most of it on my computer as well.

Yet again, I learned the hard way there had to be a better way.

If this has never happened to you, you're lucky, and I totally understand if the thought of keeping your important, confidential, and proprietary information 'out there in the Cloud' strikes fear in your heart. Honestly, at the time I originally started using the Cloud it may have been less secure, but things have totally changed. Nowadays it's far safer than keeping data in any physical form (drives, disks, etc).

Skeptical? I get it. Here's the facts.... 

WHY USE THE CLOUD?

The Cloud is reliable, affordable, secure, and more flexible than physical drives when it comes to managing data. That's because internal and external hard drives can easily be damaged, lost, or stolen. Using the Cloud protects and gives quick access to your data wherever you are and whenever you need it. Best of all, the Cloud always stays current and never needs to be replaced or updated. Computers and other devices come and go. Your data remains safe and easily accessible. 

WHY THE CLOUD IS MORE SECURE

The Cloud provides the highest level of security. Just as clouds in the sky shade you from the sun, Cloud computing protects you from the many digital security concerns you face. It's a lot more likely data on a local drive will become corrupted, be hacked, or accidently erased. Not to mention natural disasters like flood, fire, or just a cup of coffee spilled, will irrevocably damage your hard drives, but when your data is in the Cloud you can rest assured, your data is safe and sound.

WHY THE CLOUD IS MORE CONVENIENT?

The Cloud is available anywhere you are. Whether you’re updating your social media with new photos, sending an email from your mobile device, or streaming your favorite movies, it's all happening in the Cloud. It's everything and everywhere. You're already using it. If you aren't taking full advantage of the technology to make your business run more smoothly and efficiently... it's time.

WHY THE CLOUD IS A SAFER PLACE FOR YOUR DATA

Today, the Cloud is a part of everyday life. If you're not using the Cloud — your data is at risk unnecessarily. The Cloud provides great data backup for unexpected events and it's an integral part of a data security plan. Information stored in the Cloud is far more likely to be secure than local files unless you happen to have a robust IT security company and/or on-staff experts working constantly to keep your data safe. Why? Because Cloud companies rely on far more robust cybersecurity measures to protect your sensitive data than most small businesses could ever have. It's just built in. So unless you are an IT company or already have massive IT security protocol in place... you're likely at much greater risk by continuing to keep things local.

SO WHAT’S THE SOLUTION?

There are many Cloud based file services available now. Which one will work best for you depends on what your individual needs are (how much storage space you need, what features are most important to you, how you use it, etc) and cost, of course.

Popular options include Microsoft OneDrive, Google Drive. Another is Dropbox.

In essence they all work in a similar way. I've used them all. I prefer Dropbox for my business because it integrates in a more functional way with my computer and the programs I use. It lives right in my file directory so it looks, and acts, just like the local files. It's super easy to use. It's accessible from all my devices. And the app is PHENOMINAL.

If you would like help choosing and setting up the right Cloud based file service for your needs, please schedule a call with me to talk about it.

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If you enjoyed this post and would like to keep in touch…

👉 Please join my community using the button below -
and receive a copy of my powerful mini eBook
How to Get Sh*t Done: 10 Productivity Hacks to supercharge the way you work

~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

Working with an expert when making important decisions in your business is a powerful tool to create significant growth and lasting change. It really helps to see things from a fresh perspective and consider ideas and concepts that may not come to you on your own.

It’s not necessary or important for you to know how to do ‘all the things’ in your business. What’s important is who you have on your team and what THEY know that you can use to your advantage.

If you would like to explore working with me, I invite you to schedule a Discovery Call. 👇

Is it time to increase your fees?: Two things to consider in your decision

This is the time of year when you may be thinking about increasing your fees. I know pricing is a tricky subject with a lot of factors to consider and we won’t go into all of them here - but I want to give you a couple things to think about.

1) Costs

I know I don’t have to tell you about how much costs have gone up. Have you taken a look at your profit and loss statement lately? Look at your YTD Net Profit. Are you happy with it? Are you surprised by it?? Chances are, it’s a little more slim than you’d like if you haven’t raised your fees lately.

📌(side note - if you’re not actively using your financial reports to make decisions, I strongly recommend that you do. How much cash you have flowing in and out of your bank account is not a good indicator of your financial situation. If you’re not sure how to interpret your reports or your finances are not in order, let me know. I can help.)

2) The psychology of pricing from the client perspective

Where is your pricing compared to others in your market? If you are too low, current clients (and potential new ones) may view you as less experienced or credible. Clients may not take the work as seriously as they need to or they may even stop using you altogether. If you are too high, you may experience a challenge in landing and keeping clients due to price tolerance. There is a whole science around price tolerance and we don’t have to go down that rabbit hole now - just consider where you are in your market and what amount of industrywide ‘wiggle room’ you may have.

No, I am absolutely not saying you should base pricing on competitors, but it is something to consider in your overall pricing strategy. The client perception is very important in the psychology and success of the relationship. They need to perceive you as an expert.

Raising your fees may be necessary, if not inevitable, for the health and sustainability of your business as well as your personal financial success.

Basically, when raising prices, the goal is to keep most (no, I did not say ‘all’) of the clients you have, and still be marketable to new clients at a higher rate so you can remain profitable. Finding the sweet spot is key.

There are many ways to look at pricing and lots of things to consider. These are only two of them. You need to have a strategy and it should be revisited at least yearly, if not more often.

Make sure you are earning enough to be profitable. Have clear goals and understand your numbers so you’re not chasing profitability.

If you are not sure, or would like some help, let me know. Let’s get together and talk about it.

~~

If you enjoyed this post and would like to keep in touch…

👉 Please join my email community using this link:

https://mailchi.mp/s-b-services/becky-oneill-business-services

~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

Working with an expert when making important decisions in your business is a powerful tool to create significant growth and lasting change. It really helps to see things from a fresh perspective and consider ideas and concepts that may not come to you on your own.

It’s not necessary or important for you to know how to do ‘all the things’ in your business. What’s important is who you have on your team and what THEY know that you can use to your advantage.

If you would like to explore working with me, I invite you to schedule a Discovery Call. 👇

NO'vember is a great time to create boundaries

If you find saying ‘No’ difficult, you are not alone.

Women, in particular, are prone to feeling the urge to say yes to just about everything. Learning to say ‘no’ can be challenging but it is VERY necessary to preserve your sanity, your energy, and to create more joy in your life.

If you are a chronic people pleaser, overachiever, or if you find yourself with more to do than time to do it… THIS is for you!

Now that we’re past Halloween most of us feel compelled to throw ourselves into holiday mode, and that can feel great but also very stressful and overwhelming.

If you love every second of all of the activity, shopping, and goings on, then, by all means indulge!

Always do what your heart desires.

If, however, you tend to become tired, stressed, or overwhelmed this time of year then now is the perfect time to consider and PLAN what you’re going to say ‘yes’ to… and what you will say ‘no’ to in order to moderate and fully enjoy the holiday season ahead.

PLANNING EXERCISE:

It may help to settle down with a comforting beverage and a piece of paper and write down all the things that you are responsible for and events that you attend over the holiday season. Then take a look at the items on your list and ask yourself if you want to say ‘yes’ this year or if you prefer to opt-out. Try to avoid the dreaded ‘should’ as a decision maker. My personal litmus to these decisions is ‘if it’s not a ‘hell yes’ then it’s a ‘no’. Feel free to apply this technique to your process!

This simple exercise will give you perspective and allow you to consider your options in advance so that when it comes up, you’ll be ready to flex your ‘no’ muscle if that is the right choice for you this year.

If you would like to download & print a worksheet to use for this exercise, click here 👉 WORKSHEET

REMEMBER:

You don’t have to over explain your decisions. You are fully entitled to them. People understand. And if they don’t, too bad. I know this sounds a little harsh but you will find that once you establish boundaries around your time and efforts, most people will quickly observe and respect them.

‘No’….is a complete sentence. It is a game changer… a life saver… a freeing expression… PRACTICE EXERCISING YOUR ‘No’ MUSCLES and enjoy your holiday season more this year!

If you enjoyed this post and would like to keep in touch…

👉 Please join my email community using this link:

https://mailchi.mp/s-b-services/becky-oneill-business-services

~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

I find working with someone that I can bounce ideas off of and who will support me in making important shifts in my business and my mindset is the key to lasting change. There is power in working with a neutral expert. It really helps me see things from a fresh perspective and consider ideas that may not have come to me on my own. Despite our best efforts to be objective, the input of another qualified person is often the missing link. This realization is actually the reason I became a coach!

If you would like to explore the option of doing this work with me, I invite you to schedule a Discovery Call. 👇

4 Important Questions About Money

When you are working to develop a truly successful Business Mindset, one of the first things you need to assess is your comfort with MONEY. Why? Because in business, money changes hands regularly and your relationship with money is a key player in the decisions you make every day. You can literally win or lose as the direct result of how you think and feel about money.

Everyone initially thinks…. oh, I don’t have a problem with money. I love money (or the things that money can buy). But is that really true?? When you scratch below the surface you’ll see it is a rather complicated subject.

Most people have underlying ‘money issues’ that they have unsuspectingly brought with them from childhood and early development. In fact, I believe EVERYONE brings a certain bias to the subject of money and accumulating wealth and they are not even aware of it.

When I was a child, we did not have much but I never felt “poor”. I know now, that we were and that my parents struggled to keep food on the table and a roof over our heads for much of my young life. My mother worked very hard to gain degrees in higher education all the years I was growing up while simultaneously working two jobs. Needless to say… I didn’t see a lot of her. I respect her totally though for the hard work she gave and the example she set for me.

The thing I remember most about money, or money issues, was actually from when I was a teenager and my family had risen out of poverty and were what you might consider ‘middle class’. Not well off, not poor. Stuck in the middle where most people find themselves.

There was a strange feast or famine type of relationship with money in the household. Often times I would hear it said “we can’t afford that” but then my mother would go to the wholesale club store and come home with massive quantities of supplies and food. She would spend hundreds of dollars stocking our home with things we didn’t need 20 of…. but not allow herself to buy a new outfit… and certainly not a new car or piece of furniture EVER. It was an odd paradox and it did not go unnoticed by me.

This began my interest in understanding money and why you make the choices you do with it… where the motivation comes from to make those choices… and how those choices ultimately affect your success or failure in acquiring financial freedom or wealth.

If you want to explore your own relationship with money… I’ve included 4 simple prompts to contemplate. Consider the way you feel in your body as you respond to the prompts and ask yourself if you are being totally honest with yourself as you answer them. Dig deep for a few minutes and consider each one. You may be surprised to find you have some underlying tension in your body or outright discomfort that comes up surrounding the subject of money. It’s a very interesting thing that happens.

Try these prompts on for size at a time when you have about 10 minutes, things are quiet, and you are relatively relaxed. Write down your responses and the feelings associated with them so you can look at them later. For now - just do the exercise and be careful not to judge yourself for what comes out.

1) I want to be rich!

(Say this one out loud with some gusto! I think you’ll find this one is tricky because everyone says ‘yes’ but pay close attention to how you FEEL when you say it. Are you too embarrassed to even say it out loud? What else comes up for you?)

2) The first significant memory I have of money, or lack of, when I was growing up is _____ and how that affects me now as an adult is _____.

(Initially you might think your exposure to money, or lack thereof, has no effect on you now as an adult… but if you think and feel on it for a while… your eyes may be opened to the fact that there is absolutely a direct correlation between your childhood experiences and your relationship with money now. I call this ‘programming’ and it is a very powerful motivator and/or block to accumulating wealth.)

3) I want to be more financially successful than my parents are/were.
(There is a very interesting thing that happens when you think directly about surpassing your parents, or other important family role models, and becoming significantly more financially successful than them. There is often an underlying shame associated with it. Notice this as you consider this and see what your level of confort is with it.)

4) If I were rich, I would (a) want everyone to know, or (b) not live in a way that made it obvious to others.

(This offers an interesting view into your comfort level with wealth. Do you want people to know you’re very wealthy? Would you feel conspicuous or even embarrassed if people knew? There’s no right or wrong here… but it can be enlightening to consider because it tells you about the ‘story’ you have in your head about whether it’s ‘ok’ to be wealthy or if there is shame attached to it.)

These are just a few quick things you can play with some time when you are alone. Knowing where you stand in your relationship with money is important to developing a Business Mindset that allows you to receive success. Often times we have no idea - but we are actually standing in our own way and even sabotaging ourselves with our ingrained programming and habits simply being unaware.

Unlocking it can be as simple as understanding where certain ideas and ‘stories’ come from… and that they are not our own. They are the product of our programming. And you can choose to change your mind about it if you wish to.