Harmonious Wealth

Today on the podcast, I share behind the scenes on how I run my Financial Friday’s. Yes, you read right! I’m giving you the step-by-step process in how I manage my own numbers.

2019 was the year where I promised myself that I’d treat my own finances like I do my clients. Doing this, caused me to grow my own numbers in ways they’ve never been before.

In this episode I share:

1. A brief history of how I managed my money in my 20s
2. How I utilize Profit First in my business
3. The software I use to track my business finances
4. My weekly workflow to manage my business finances

Resources:

1. The Classy Cash Flow Kit
2. Profit First Book
3. The Major Margins Bundle
4. Quickbooks and Xero - my accounting software of choice for clients and myself

Today on I talk all about how profit is vastly different than cash flow! You ever looked at your profits and thought it was a healthy month then looked at your bank balance and wondered where in the world did the money go?!

I’m sharing all about why that’s the case. If you’re trying to better understand how cash flows in and out of your business, this episode is for you.

Here’s what I cover: 

Why profit is not the same as cash flow cashflow

1. Beginning bank balance
2. Incoming cash - revenue, owner’s investments, loan
3. Outgoing cash - expenses, owner’s draw, paying off credit card/loan, purchase of asset
4. Ending cash balance

How to review the statement of cash flow

1. Operating activities 
2. Investing activities 
3. Financial activities 

They tell us different things that can happen outside the P&L

Resources to help you get the full picture

1. The Classy Cash Flow Kit
2. The Major Margins Bundle

Email: [email protected] | Instagram: instagram.com/lovelyfinancials | Facebook: facebook.com/lovelyfinancials

Today on the podcast, we're getting back to basics. Let's talk all about the key differences between revenue and profit. These terms are used interchangeably in the world of online business and I want to give you a bite-sized episode all about it today.

No judgement if you found yourself using these terms interchangeably. I'm here to help guide you to better understand your numbers.

Today on the podcast, I continue the journey about profits and dig into understanding profit margins! In the previous episode, I shared how revenue was NOT the same as profits. Profit Margins are an easier way to be more transparent about your business instead of sharing the raw numbers. 

Here’s what we cover:  

1. The full Income Statement
2. Gross Profit Margins
3. My typical ideal for gross profit margins
4. Operating Profit Margins
5. Expense to Revenue Ratios

We also get a dip into the different profit margins depending on industries and why you need to STOP comparing yourself in business.. 

Need help grasping the concepts?!

Resources: 

• The Classy Cash Flow Kit
• The Major Margins Bundle

In this episode, I talk all about my story before I started my business Lovely Financials Group and the beginning steps of my entrepreneurial journey.

I know you can relate that all the positions you've held in your life is transferable to how you serve your audience.

My story is no different!