We are living in the gig economy. Everyday, new entrepreneurs are jumping ship to leave their corporate jobs, to build and change the world with their new idea, concept, or product. It’s beautiful, it’s revolutionary, and it’s risky.
In a time when we are all shifting to new paradigms, learning how to embrace AI, working more on our phones more than our computers, and experiencing the rapid pace of innovation, shouldn’t it be time that we change our paradigm on how we look at our financials and our numbers?
As a CPA + entrepreneur + consultant, knowing my numbers should have been the first thing on my mind when starting my business, but it wasn’t. I instead focused on building a brand, solving a problem, chasing shiny glitter — all of the fun stuff.
It wasn’t until my first years into business, where I really started analyzing my own numbers, seeing where I spent frivolously, the patterns of my invoicing to cash flow, that I realized I needed to take my financial freedom and my time more seriously.
In the gig economy as an entrepreneur, you need to make that you’ve set up your business for tax success and prioritize your monthly financials and spend. You might think that having a bookkeeper and someone prepare your tax return at the end of the year, is all you need to survive. But folks, that’s not the case.
At the end of the day, you need to have the right legal entity to protect yourself, keep good track of your receipts and spend, and analyze your numbers to make sure they are supporting and in line with how you run your business.
To financially succeed, you need to have a DYNAMIC financial roadmap.
Financial roadmapping helps you build a growth plan to reach your desired income goals, save for taxes, and manage your cash flow the right way. Financial Roadmapping helps you understand how your monthly expenses of Spotify, gym memberships, travel meals to clients impact your business, can be deducted, and are worth the spend.
Building your financial Roadmap
- Analyze your financial landscape over the past 12 months.
- Where are you spending money?
- What are you spending your money on?
- How often are you paying your bills?
- Are you growing and expanding, or contracting?
- Embrace and assess your current financial landscape
- What worked in the past?
- What didn’t work?
- What can be cut out?
- What can be added?
- Determine where you want to go in the next 12 months
- Recognize that short term actions will result in long term change.
- How does your roadmap align with your business strategy?
- What daily change can be made to achieve your goal?
- What systems are you using to get there?