Ep 10 - Done is Better Than Perfect
Podcast Summary:
In this episode, the host shares insights on managing business finances as an entrepreneur. She emphasizes starting even when you feel unprepared or afraid of mistakes. The key takeaways are:
Prioritize finances even when fires come up. Come back to it as soon as the urgent task is handled.
Imperfect progress is better than procrastination. Finances can always be corrected.
Have someone you trust review your books periodically. A second set of eyes helps spot errors early.
Financial data empowers you to make informed business decisions. Put in the work to have accurate reports.
Find a financial strategy aligned with your personality. Cookie-cutter approaches rarely work.
Upcoming events: a quiz to find your financial success strategy and a summit on business finances.
Show Notes:
In the opening, the host shares that finances and bookkeeping often get pushed down the priority list by entrepreneurs. But it's important to make time for them.
She observes that many only showcase financial successes on social media. Important struggles in between are left out.
The host notes that bookkeeping seems easy but takes substantial time and energy. It's hard without detailed records. Give yourself grace as you learn.
Fear of getting things wrong can stall progress. But anything can be fixed in bookkeeping. Down is better than perfect.
Having someone else review your books periodically is recommended. They can catch errors and suggest improvements.
Accurate financial data lets you make empowered decisions about your business. The maintenance phase is easier than setup.
The host emphasizes finding a financial strategy that fits your personality. Cookie-cutter approaches rarely work.
Upcoming are a quiz to find your financial success strategy and a summit on business finances.