In this episode, host Molly Beyer takes us back to basics to talk about spreadsheets. The basics are often where the most powerful shifts happen, so it’s an important look back. Spreadsheets for bookkeeping are used as either a supplement to accounting software or as a full-on substitute. Molly unveils the reasons why she believes a good ol’ spreadsheet can give a level of control and customization that sometimes the best software can’t match.  

Using accounting software where it makes sense is a great idea: the integrations and reporting features are incredible for a growing business. So why also maintain a spreadsheet? Molly gets into detail on four reasons why spreadsheets are beneficial, even if accounting software is also in use: 1. Flexibility and customization, 2. Ease of use and accessibility, 3. Cost effectiveness, and 4. Perfect for simple bookkeeping needs. 

Molly explores the scenarios in which spreadsheets make an ideal supplement to accounting software and why. She points out the things accounting software does well, the things spreadsheets do well, and where a spreadsheet can truly fill in a gap that software might be missing. Most of all, Molly wants to assure business owners who are still exporting QuickBooks into Excel that they’re doing it right. After all, as she says, the best bookkeeping system is the one that will be used. 

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer explores the reality that impact and income can be partners and not opposing forces. It can be a struggle for heart-led business owners to reconcile doing well financially with doing good through their work. Molly explains how you can still do good while doing well. When done intentionally, impact and income can and should co-exist to strengthen each other. 

The purpose of a business should guide business decisions, both in how money is earned and how the business presents itself in the world. Molly describes how knowing the why of a business becomes a compass we can use to build meaning around margins and efficiency. Impact becomes part of the business model. Molly uses examples such as Toms Shoes building an entire business around the idea of buy one, give one, or Patagonia’s outdoor clothing and gear model, which also invests in worker wellbeing and environmental activism. 

Molly talks about how to match the impact to income models, how to bake company values right into the business, and explains why services help both clients and employees. Setting dual goals helps the business work towards both financial targets and impact metrics that track the social changes desired. She talks about SROI, Social Return On Investment tools, and how aligning business with purpose lets us think differently about innovation. Molly advises letting clients, collaborators, and the community understand the mission so everyone becomes part of it.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer talks about the difference between client-led and client-centric business models. They may sound the same, but they are very different in practice. Molly explores the differences between them and points out how understanding these nuances can help business owners build more effective systems and deliver experiences that truly resonate with clients. Avoiding burnout and being zeroing in on what works best for clients is the goal.

Client-led is exactly that: clients are in the driver’s seat. They’re the ones steering and pointing out where to go, and the business owner is the navigator and facilitator following their lead. Client-centric means the business owner has designed the entire vehicle with the client in mind. Seats are adjusted to fit them, the music is their favorite, snacks they like are in the glove box; the business owner has anticipated their every need. Molly breaks down how these differences play out in real time and when each one works best.

Molly’s intent in illustrating why client-led and client-centric function differently is to ensure that businesses don’t lean too far one way or the other. Being aware of how each business model affects clients and the business owner means that a combination of both models can be used to streamline the business operations into what works best for every situation. It allows for flexibility and evolution in ways that make the business efficient for all involved.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer addresses a topic that should get more attention than it does: intuitive pricing. While it’s especially relevant for service providers, intuitive pricing is valuable for any business where no two clients or projects are the same. Pricing does not have to be fixed. Molly explains how pricing can be fluid and intuitive, and the benefit of such flexibility to solopreneurs who are often plagued with either underpricing or overpricing.   

Intuitive pricing, as defined by Molly, is the practice of setting or adjusting pricing based on experience, gut instinct, and real-time feedback. It takes the place of more formal pricing models or competitor benchmarks. It’s not winging it, but is instead a human-centred approach that allows for adapting while staying connected to the business’s numbers. One of the benefits is that it’s not just flexible, but strategic.

Molly identifies the benefits as giving a business owner room to say yes or no with confidence, building a responsive business instead of a rigid one, allowing for reconciliation and support in terms of bookkeeping, and making flexible decisions with confidence. She also outlines the risks and how to mitigate them. When setting intuitive pricing, Molly advises creating a flexible framework that allows for ranges instead of rigid rates, and to keep notes on what was quoted and what worked. This episode highlights a more instinctive approach to pricing that allows each business owner freedom to meet clients where their needs are.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer unpacks the world of tax professionals and explains exactly who tax professionals are, what they can do for an entrepreneur or business, and how to choose the right one. It isn’t just people staring down a stack of IRS letters who will find this information useful: understanding who can assist with business tax financials is key for anyone starting out, growing a business, or just wanting to feel more confident about finances. 

There are four main types of tax professionals, and Molly explains the most common types and how they operate. CPA is the most common tax professional designation encountered. CPAs are licensed by their state boards and have rigorous certification standards. They don’t just do taxes; they can also help with financial planning, business strategy, and audits. The next type is an EA, or Enrolled Agent. They pass an IRS exam or have worked for the IRS, and are a great option if needs are mainly tax-related. Tax attorneys and non-credentialed tax preparers are the final two types of professionals. Tax attorneys are the highest level of tax representation available, and the most expensive. Non-credentialed tax preparers, on the other hand, are individuals who prepare taxes but don’t hold a formal license.

Molly offers insight into when each type of professional is most useful, their relative cost, and when to consider a higher tier of professional versus when a reliable non-credentialed tax preparer is perfectly fine. Whatever the need, she recommends building a relationship with a tax professional before tax season and asking the right questions to stay informed on what’s best for every stage of business needs.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer talks about self-help, the drive for continuous improvement, and when it crosses a line to become a stealthy form of self-sabotage. Lifelong learning is a good thing: development, both personally and professionally, is necessary for growth and confidence. But where does it become too much? When we start to measure ourselves against impossible standards and begin to feel like we’re never doing enough. Molly explores where this line is and how to avoid it.

Perfectionism, according to Molly, can be used as protection. If we keep working on ourselves, we avoid ever actually showing up, which is a common trap she sees grow within self-help. But perfectionism is a moving target and not a prerequisite for success. She also names obsessing over self-improvement as a common trap. We reach a point of constant self-improvement obsession and analysis of self without actually doing anything different. The third trap is self-care as avoidance, the fourth is negative self-talk disguised as reflection, and the final trap is losing sight of the bigger picture. 

Molly breaks down what each of the five traps looks like in the workplace and how they work against us. Too much self-help works until it doesn’t, until it breaks down and leaves us in a shame spiral. Molly asks, “What if we’re not broken?”. She offers ways we can gently and intentionally break the cycle of self-sabotage. One of the key points is to ask ourselves if we’d talk to a loved one the way we talk to ourselves. She has sound advice and direction on how to break free from each of the five traps, designed to help us remember that we don’t have to earn our worth through endless self-improvement. We don’t have to hustle for our healing. 

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer addresses the topic of delegation, a necessary skill for business owners and managers to master for success. In order for an entrepreneur to be effective, they must learn how to delegate in order to free up their time. Molly investigates what it takes to effectively delegate, why it’s a strategic process, and the necessity of having the right task to the right person to manage. 

Molly outlines three areas to look at when considering what to delegate. Looking at the task, looking at the delegatee, and looking at the delegation process itself. There are a series of things to consider in each area. When considering the task itself, is it truly critical or can it be handed off without risking the big picture, and is it straightforward or does it require specialized knowledge? Examine whether or not the task has a documented process, what time of ours the task delegation will free up, and even if the task itself can be handed off whole or broken off into sub-tasks.

With the delegate, it’s about matching tasks to a person. The person being delegated to needs to have the right skills and experience to succeed, the time and bandwidth, and the desire to take the task on. In a team, is the task an opportunity for the delegatee to grow? Finally, Molly examines the delegation itself, outlining the details that must be in the handoff process for the task to succeed in the delegatee’s hands. This requires clear communication and provision of support and tools. Delegation is vitally important, but so often done without a strategy or thinking through the entirety of the task. Molly challenges us to look closer into delegation so we’re doing it right for ourselves and those we delegate to.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books

In this episode, host Molly Beyer defines what a small business is and just how many small businesses exist, in order to illustrate how many fail and why. When statistics say that one in three small businesses won’t make it past the two-year mark, what is the common denominator there? Molly explains that 82% of failures come down to one root problem: cash flow. So, what is cash flow, and how can it be managed successfully? Molly answers these questions and more.

Cash flow, simply put, is the movement of money in and out of a business over a period of time. It’s not the same as profit. Profit is what remains after a business’s expenses are factored in. Cash flow is what is available in the bank and when. Molly explains three types of cash flow that a business will have and how it can be either positive or negative. Cash flow matters because when what’s expected to come in doesn’t happen and what’s going out stays the same, a business will run out of money and fail. 

How do business owners avoid having their businesses become a failure statistic? Molly offers up several ways to manage cash flow that will assist a business in staying afloat: building a budget, protecting credit, paying bills on time, and maintaining complete and accurate financial records, tended to regularly by a bookkeeper or tax professional are some of those practices. Cash flow is an indicator of business health, and Molly’s insight will prevent a business from falling ill and into negative cash flow.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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In this episode, host Molly Beyer talks about do-it-yourself bookkeeping and addresses commonly held beliefs that are actually myths. Molly breaks down what people often think about bookkeeping and explains why each myth is not necessarily a good direction to take our businesses in. Molly stresses that bookkeeping is a key part of having a successful business as an entrepreneur, so keeping good books with solid financial habits is a must.

There are six myths that Molly addresses and debunks. 1. That everything people need to know about keeping their own books is on YouTube. 2. Commercial accounting software is so easy to use that a professional is not needed. 3. If someone is good with numbers, they’ll be good at accounting. 4. That accountants will handle bookkeeping at tax time. 5. Google can explain everything that may be counted as a business expense. 6. A business can save money doing its own bookkeeping.

In explaining each myth, Molly offers sound advice on what to do in place of the myth. She unpacks the potential harm or pitfalls that the mistaken belief can lead to and explains a more successful and guaranteed way of approaching bookkeeping. Do-it-yourself bookkeeping can ultimately cost more in the long run, in both tangible and intangible ways. Cleaning up a DIY mess can be far more costly than hiring a professional in the first place.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books

In this episode, host Molly Beyer continues her exploration into personal finances for business owners. This time, she explores why discipline is key to financial success. Far from being about restriction, discipline in Molly’s definition is about creating habits and systems that lead to long-term stability. She focuses on three major areas and delves into the how and why these three mindset shifts can positively impact business finance.

The three areas Molly highlights are the necessity of understanding a business chart of accounts, regularly reviewing the business profile and loss statement or balance sheets, and creating workflows and habits that make financial tracking second nature. Understanding leads to greater opportunity to grow and shift mindsets to successful habits. And running a successful business requires financial discipline, that’s an absolute fact.

Molly explains that the chart of accounts is comprised of the categories used for tracking expenses: travel, advertising, rent, etc. The profit and loss statement needs to be reviewed regularly and must be reconciled and updated before a review can take place. Finally, creating workflow and habits creates an awareness of where money is going, so there are fewer surprises. Molly advises setting up a weekly or monthly financial check-in with an accountability partner or bookkeeper and automating bill payments wherever possible. She challenges us all to identify a financial fear holding us back and reframe it as a growth opportunity.

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Contact Molly Beyer: 

• MKBeyerBooks.com
• MKBeyerConsults.com
• Facebook: MK Beyer Books
  
  

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