She Talks Business

Strategic Forecasting and Budgeting for Financial Excellence

When you are learning about your business financials, you have to get into the nitty-gritty stuff. You are fully capable of learning the metrics of your business because that's what's going to move your business forward.

There are nine foundational pieces when it comes to forecasting and budgeting for your business.

When it comes to running a business, you need to have financial goals that you keep in mind. Doing this in addition to reviewing your historical data, estimating your sales, projecting your expenses, and managing your cash flow, you can create a realistic budget aligned with those goals.

Once that budget is set, it doesn't stop there. Be sure to regularly monitor your financials to make adjustments as needed when the unexpected happens. Also, take the time to plan for the unexpected, it will take a lot of the emotional weight off of you if it does happen. If this feels really overwhelming, just know that you can do it, but you can also seek professional advice from experts who understand the complexities of your business.

Financial forecasting and budgeting is an iterative process. Continue to inspect your financials month over month in order to direct your business so that you can get it where you want it to go. When you understand the financials of your business, you are better prepared to navigate your business and make informed decisions.

If you want some more guidance as well as some helpful spreadsheets to get things started, check out The Pilot Project.

What's In This Episode

• The importance of defining clear business goals and objectives, such as revenue targets and profit margins, as the foundation for forecasting and budgeting efforts.

• The significance of analyzing historical financial data to identify trends, seasonality, and insights hidden within sales, expenses, and cash flow records.

• The process of creating revenue projections based on factors such as market demand, pricing strategies, sales pipelines, and historical sales data.

• The importance of creating a comprehensive budget that aligns with business goals, covers short-term and long-term needs, and factors in all expenses, both fixed and variable.

What To Do Next

Visit lisalarter.com/e107 for all resources from this episode.

Essential money insights to master the financials of your business Business owners, are you ready to take control of your money? Are you tired of feeling confused and guilty about your finances and ready for things to change? If you find yourself feeling unsure of where your money is going, and wanting more control over your finances, then this episode is for you. There are seven essential money insights that small business owners need to know about money to help demystify the confusing world of business finance. These are the seven insights that we will dive into on this week's show:

1. Cash Flow
2. Profit
3. Budgeting
4. Taxes
5. Investing
6. Financial Reporting
7. Emotions

It can be easy to confuse cash flow with profit and although profit is an important metric, it's not the only one. You want to keep an eye on your gross margin, return on investment, and of course, your taxes. Speaking of taxes, budgeting is crucial for any small business owner. With a budget, you can track expenses, prioritize spending, and forecast where you're going to end up financially. This helps prevent making uninformed decisions that could leave you in a deficit. Now it's time to get COMFORTABLE with numbers and shed the shame and guilt that many people feel associated with business metrics. When you understand your finances and the money metrics that matter, you can make informed decisions that lead to financial success and peace of mind. If you're a small business owner who wants to master their relationship with your business finances, don't miss this episode of She Talks Business. These insights will help you master your business finances and take control of your financial future. What's In This Episode

• Understanding cash flow to prevent bad spending decisions.
• Budgeting, the crucial piece to forecasting financial outcomes.
• Keeping an eye on your metrics beyond profit to have a complete understanding of the business's financial health.
• Shedding shame and guilt around financial metrics and becoming comfortable with numbers.

What To Do Next Visit lisalarter.com/e106 for all resources from this episode.

Debunking the myth that mindset is at the root of your financial struggles

We've all been told that our mindset is the problem when it comes to money, but what if I told you that was a lie? Consider this: if you wanted to learn how to fly a plane but had no idea how, would you think that your mindset was the issue? Of course not! You'd recognize that you simply have a skill deficit and would hire someone to teach you how to fly. The same goes for money. Your mindset around money is not fixed, and it can evolve and change. Stop using your money mindset as an excuse to not create wealth and financial independence. When you understand how money works, your mindset is no longer a problem. And let me tell you, learning these skills is not only possible but essential to achieving financial freedom. Join me in this episode as we explore the truth about your money mindset and how to develop the skills necessary to create financial abundance in your life and business. What's In This Episode

• Why mindset is NOT the problem when it comes to money
• Flying a plane to illustrate the concept of skill deficit
• How mindset can change and evolve

What To Do Next Visit lisalarter.com/e105 for all resources from this episode.

What does mindset and the nervous system have to do with the way you manage your money?

"I want to congratulate everyone listening in and encourage you to listen to every single episode with Lisa during this season about money because the act of exposing yourself to a different kind of money conversation than the ones you've been around is going to change you."

These are the words special guest, Kate Northrup spoke before we had even finished recording this episode of She Talks Business—it was that good.

Kate, an entrepreneur, best-selling author, and mother, has built a multimedia digital platform called The Origin Company which reaches hundreds of thousands globally. She's committed to supporting ambitious women to light up the world without burning themselves out.

Kate teaches data and soul-driven time and energy management practices that result in saving time, making more money, and experiencing less stress. If you're interested in learning from her for free, join her live workshop called plenty by clicking here.

Tune in as we continue the conversation about money mindsets, the emotions and shame around money, money management, and the nervous system.

You're about to witness some really powerful dialogue that has the power to change the way you think about and interact with money. Grab your notebook and pen, and let's dive in.

What's In This Episode

• The layers of healing your money mindset

• The power of sharing financial success stories

• Money management and the nervous system

• Ways to break the cycle of poverty and change the trajectory of you life

• Treating your money with respect

• Asking yourself, "How?" in front of any money habit you would like to adopt

What To Do Next

Visit lisalarter.com/e104 for all resources from this episode.

Dive into your sales strategies and start making more money

We are kicking off a new season of She Talks Business! During this season, we are going to talk a lot about money, and that means we will be discussing things like sales, profit, mindset, and more.

When it comes to talking about money, most people want to know how they can make more so I've dedicated the first episode to sharing 13 strategies you can put to use to immediately increase sales in your business. None of these strategies include things you might expect like creating a sales funnel, a new sales page, a webinar series, or dancing on Instagram.

If you want to learn practical and actionable advice that you can apply to your business immediately, tune in and begin the journey of taking your business to the next level.

What's In This Episode

• Increasing your marketing efforts to get more clients

• How to increase your prices the right way

• Is it time to introduce new products or services?

• The power of upselling

• Recurring revenue models

• Understanding invitation marketing

• Looking out for referral patterns

• Communicating your offers

• Testimonials, recommendations, and reviews

• Asking for the referrals (Check out episode 72 for more details on referrals)

What To Do Next

Visit lisalarter.com/e103 for all resources from this episode.

How to unlock the power of community in your business

This season has been a treasure trove of book recommendations. I hope you have enjoyed them and that you have a long list of books you want to read. As we wrap up this first season of 2023, I have a special episode to share with you.

In February, the Thought Readers community read Mark Schaefer's latest book, Belonging to the Brand: Why Community Is the Last Great Marketing Strategy. I reached out to Mark and invited him to come and chat with our community about his book and he generously agreed.

During this conversation, he spoke about the power of community and why it should be an indispensable aspect of every business owner's marketing approach. However, don't let the title of the book fool you; what Mark has to say goes beyond marketing and emphasizes the importance of relationships.

If you're ready to craft a new strategy centered around community, this episode is for you. Your community is ready to tell you what they want; all you have to do is listen.

What's In This Episode

• Community as a marketing strategy

• How marketing interrupts your audience's lives

• Having a solid brand

• Internal community

• Protecting your community

• The Metaverse

• How to earn their attention

• The delicate balance between leading and allowing

• Where the love of the brand comes from

Visit lisalarter.com/e102 for all resources from this episode.

Giving yourself permission to prioritize your well-being and success

​​This week we continued our thought-provoking and informative discussions around books. I had the pleasure of talking with Allyson Byrd, who is a long-time friend and colleague of mine, and an all around unapologetic and fascinating individual. She shares her unique perspective on how reading can maximize its impact in your life and magnify your intentions.

In this conversation, Allyson spoke about the importance of self-care but also highlighted what happens when you stop focusing on it. We often get caught up in our daily routine and forget to care for ourselves. Allyson believes that self-care is crucial to create success for yourself, and it starts with permitting yourself to prioritize your well-being.

Allyson shares some pretty interesting information as the topic moves to the new world of plant medicine, where Allyson shares her practice of microdosing on psilocybin while reading, and why she does this.

And in true Allyson style, none of her books are conventional, and one hasn't even been released yet, but she managed to snag an advanced copy, and I won't lie, I am jealous of this one.

If you are ready to be reminded of the power of books and how they can shape your perspectives and open your mind to new possibilities, then you don't want to miss this episode.

What's in this episode

• Why Allyson Byrd Reads

• What happens when you stop focusing on self-care

• Creating success for yourself

• Working less and living more

• The power of psilocybin

• The fight against fear

• Practicality to our imagination

• Not hiding behind worry

Visit lisalarter.com/e101 for all resources from this episode.

The impact a book can have on your life and business

Have you ever read a book that completely changed your perspective and life in a lasting way? It's incredible how words on a page can have a profound and lifelong impact on us.

This week's episode of She Talks Business is a milestone episode.

We have finally reached 100 episodes on the show!

And we have an incredible returning guest, Margy Feldhuhn, who loves talking about books and learning new things as much as I do.

Margy is a Forbes-featured podcast host, a multi-7-figure CEO, and co-owner of Interview Connections, a podcast booking agency that is the first and leading of its kind. She started working at Interview Connections as a part-time contractor earning $15/hour and became the CEO and 50% owner of the company within two years.

Margy shares three books she has implemented into her life, whether through action or a mindset shift. We spend a lot of time discussing how to eliminate friction and create a culture of agility that empowers everyone on your team to do their best work.

We also take a little dive into the intersection between leadership and the nervous system, but you'll have to tune in to uncover that concept!

What's in This Episode

• Reading that has impacted Margy's personal and professional life

• Restructuring your business

• Why you should choose to go all in

• The agility umbrella

• Eliminating friction

• How Margy reads to maximize the impact of books in her work

• The power of surrendering

• The cycle of grief to gain perspective

• Neurosomatic intelligence

Visit lisalarter.com/e100 for all resources from this episode.

How books will shape you as a person and entrepreneur

This week, I am joined by a very special guest—someone I have called a friend and a colleague since 2008. Tune in to Episode 99 to hear immense wisdom and valuable insights from none other than Patti DeNucci.

Patti is the author of two books, including the award-winning success guide, The Intentional Networker, and her latest release, More Than Just Talk.

She is a speaker, workshop facilitator, and consultant, having helped organizations like Microsoft, MGM Resorts, and Hewlett-Packard learn how to attract and enjoy more meaningful conversations and connections.

She believes in the power of quality conversations and connections over the number of people one knows.

In this value-packed episode of She Talks Business, Patti shares how reading has shaped her into who she is today. She recommends becoming a better listener and highlights how being an avid reader can contribute to overall success.

Reading can help develop critical thinking skills, broaden perspectives, and improve communication abilities, so if you're looking to recover your sense of power and expand your knowledge, this week is full of essential reading to guide you to success.

What's in This Episode

• Best reading habits

• How morning pages can help start your day

• Recovering your sense of power through reading

• Creating learning experiences

• Writing habits that helped Patti write a book

• Becoming a better listener

• How being an avid reader can make you a more successful person

Visit lisalarter.com/e99 for all resources from this episode.

Two books that completely changed the trajectory of my business

Throughout this book-themed season of She Talks Business, I have, of course, been thinking a lot about what I have read and what's still on my TBR list (that's To Be Read, for those who didn't know). Having used this time to reflect on all things books, two, in particular, stand out... These two very different books have impacted how I do business and have changed the trajectory of my life.

Books can give you the courage to try something new. They can push you to do things you've had lingering on the back burner for months or even years. They can be the source of inspiration, the driver of breakthroughs, or what leads you to generate more business.

If you're ready to get the traction you need to get things done in your business, you don't want to skip episode 98!

What's in This Episode

• Gaining leverage with the right partner

• The impact filter

• Ideas that were on the backburner

• Emulating what you see someone else do

• Capturing the big idea

Visit lisalarter.com/e98 for all resources from this episode.