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. 👇

Intuitive Business Consulting - What It Is And Why You Need It Now

In these unprecedented times of sudden change and uncertainty - there is NO advice anyone can give you, no matter how great they may be at their profession, that is proven or concrete. Every business advisor, no matter their field of expertise, is pulling from knowledge and experience that is not specific to the set of issues we now face. The reality is... it's all conjecture.

Have you ever considered meeting with an intuitive business consultant to guide you? Did you even know there was such a thing?!

A little known fact of who I am and how I provide such spot-on business coaching and consulting; I am highly intuitive and receive what some call "downloads" when I am working with clients. It isn't a woo psychic ability or magic. It is the ability to reach deeply into the intention and emotion of my clients and 'read' them and their business. I combine the information I receive from my intuition with the knowledge and experience I have growing successful businesses and offer the steps to take that make the greatest impact in the least amount of time specifically for you in your current business environment. It looks like conversation, but clarity and actionable steps come from it. It is a simple but very powerful tool.

I don't talk about it or market myself as 'an intuitive' because people have "opinions" about such things that can be harsh and exclusionary... and it hasn't been necessary for me to call attention to it until now. The information just happens in the background and my clients benefit from it without even knowing 'how' I know what I know. Given the results they receive, they probably say they don’t care where it comes from!

So why speak of it now at the risk of turning people off? Simply to offer help to people in a time when all other forms of business advisory are not reliable.

What can you trust now? What information can you truly rely on? Intuition. Only that. You have within you a deep intuition of what you can and cannot do, should and should not do... most people are not in touch with this gift but it is there for everyone. This is where I come in.

When I work with someone to grow their business, I rely not only on my vast experience, but also my intuition and ability to tap into the intuition of others. Basically, I bring a spotlight to the equation and can easily help sort through the layers people get lost in to find the steps to get unstuck, free from fear, panic and overwhelm, and move directly into clarity and, most importantly, to actionable steps that produce real results.

Want to learn more about how an intuitive business consultant can help you? Contact me.

Published by:

Becky O'Neill
I'm a giant business nerd 🤓 helping Women #HaveItAll by growing 🌳 strong independent 💪 service businesses 💼

Originally Published • 09/03/2020

Intuitive Business Consulting