Know your numbers
If you’re not making money it’s not a business. It’s a hobby. Although money
shouldn’t be the only reason you start a business, making a profit certainly
needs to be a serious part of your plans. People have so many hang-ups about money, the idea that being wealthy or rich means you’re greedy and to be kind and generous you have to give everything away are just two examples. These mindsets are not helpful in small business and can create blocks in your ability to earn and your potential to create a profitable business.
You don’t have to be an accountant to understand your finances though and
even a basic grasp of numbers will help you to stay afloat and be able to see
where changes can be made to make more profit.
*these activities are designed to give you a basic understanding of your business finances for any financial advice please consult with your accountant
PART 1 - Calculating your expenses
Your expenses are your running costs. The amount it costs you every month to keep the business going. It includes all the regular payments that have to be made every month, things like your web hosting, your email platform, power, internet, mobile phone. Often these expenses are around the same every month and knowing this makes it easy to budget for them in your plans and also easy to work out your profit.
What you’ll need:
1. This workbook
2. A calculator
3. A notepad and pen
4. Bank statements from the last 3 months
Downloads
PART 2 - How to start paying yourself more!
How to start paying yourself more
It turns out that even when women are paying themselves the gender pay gap exists. Did you know that 50% of Australian women in business aren’t paying themselves? This means they’re paying their suppliers, the power company, the web developer, the web hosting, mail programs, marketing and everyone else they need to keep their business going but they’re not paying themselves! We find this stat unbelievably shocking and we want to do everything that we can to change this.
What you’ll need:
1. This workbook
2. A calculator
3. A notepad and pen
4. Bank statements from the last 3 months
Downloads
PART 3 - How to set and reach your financial goals
How to start paying yourself more
People have so many hang-ups about money, the idea that being wealthy or rich means you’re greedy and to be kind and generous you have to give everything away are just two examples. These mindsets are not helpful in small business and can create blocks in your ability to earn and your potential to create a profitable business.
What you’ll need:
1. This workbook
2. A calculator
3. A notepad and pen
4. Bank statements from the last 3 months
PART 4 - REACH YOUR TARGETS!
Reach Your Targets
In our final lesson you will learn how to plan for your future growth and set financial goals + create a strategy to reach them.
What you’ll need:
1. This workbook
2. A calculator
3. A notepad and pen
4. Bank statements from the last 3 months
Downloads
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BONUS - BEST MONEY BOOKS FOR WOMEN
We are so passionate about financial literacy and believe it’s important for women to learn as much as they can about money, profit and managing their finances, so we’ve compiled a list of the best money books for women, written by women, as recommended by the women of our community. Enjoy!
