November 20, 2024

331 | Entrepreneurship and Money: Creating Systems to Manage Finances and Time

15 minutes

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This week, we dive into real-life stories of entrepreneurs and business owners navigating the tricky intersection of personal and business finances. From a law firm struggling with employee accountability to a property manager juggling the demands of short-term rentals, these lessons will inspire and challenge you to take a fresh look at how you manage money in your business.

Lesson #1: Leadership in Business Matters More Than You Think
One law firm owner learned that “good enough” isn’t good enough when it comes to employees. Shana and Vanessa helped him reimagine his business with KPIs, bonuses, and expectations, transforming a stagnant office into an opportunity for real growth.

Lesson #2: Are You a Business Owner or a Technician?
Sometimes the leap from being excellent at your craft to running a business isn’t as seamless as expected. We explore the challenges of wearing both hats—and why not everyone has to own a business to be financially successful.

Lesson #3: The Airbnb Hustle Is Real
While short-term rentals might look glamorous, they come with unexpected challenges. One client considered switching to long-term rentals but discovered they weren’t financially ready. Shana and Vanessa share why running the numbers first—and setting up systems—is crucial for avoiding costly mistakes.

Lesson #4: Systems Save the Day
A property manager with eight rentals (plus homeschooling, a medical diagnosis in the family, and multiple moves this year) credits automatic systems for keeping her finances on track during chaotic times. The takeaway? Set it and forget it systems can be lifesavers when life gets messy.

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1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall

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3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching

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By Vanessa and Shana | Budget Besties | Bougie On A Budget | Dave Ramsey Fans

4.7

213213 ratings