2. How to Be Your Own Business Adviser – The Money

 

2. How to Be Your Own Business Adviser – The Money

Who Are Your Best Customers?

It seems like an obvious question and often people tell me. But when I look at their figures, I find the answer is something different to what they thought!

 

Quite interesting. (see my post on logic and intuition in business for why this happens).

 

Today what I would like you to do is to look at your figures and find out who your best customers are?

 

What I mean by BEST, is the people who pay you the most money, over a period of time.  Whether it is a week, a month or a year.

 

Often I find it is the quiet ones.  The ones you don’t really think about?  They pay you regularly, on time, enjoy what you do and refer you.

 

Those are the customers we are trying to find.

 

Look at your figures and add up how much each customer pays you – you will be surprised at the totals.

 

If you don’t have figures, don’t worry about it.

I have a 15 minutes bookkeeping course, that will talk you through how to set up your books.

 

My name is Jenny Bracelin, thank you for watching.

 

 


1. How to Be Your Own Business Adviser – About You

1. How to Be Your Own Business Adviser – About You.

 

Business Advisers tend to look at the whole of your business.

They look at what solutions they can find to improve.

Personally, I tend to focus on you, your customers and the money. I find those make the most difference.

 

Today, I am looking at YOU.

Specifically, what is working in your business.

 

So that fact your are in business, that’s great.

You have set up in business, you have a price, got some customers.

Maybe you have a website, been doing social media or perhaps  got yourself organised?

All the things you have had to learn, in order to run your business.

 

Make a list and acknowledge yourself.

Celebrate how far you have come in business.

 

I always think starting with the positive is the way to go.

 

My name is Jenny Bracelin and I am a business adviser and money coach.

 

Please follow me on Facebook, YouTube.  Sign up to my email newsletter below, for more tips on how to run your business well.

 

Thank you for watching.

Jenny

 

 

 


What Do I Need to Do at the End of the Month?

 

What to do at the end of the month?

 

People spend hours worrying about money. It really isn’t necessary.

The first thing to do is to get reality.

 

To find out what is actually happening and that is what we are talking about today.

 

The first thing:

Add up all the money that has come into your business.  All the money in.

The second thing:

Add up all the money out from your business. All the costs.

Yes the third thing:

Take away the money out from the money in, so you are left with the difference.

Hopefully it is profit.

If it is not, don’t panic, at least you know the figures and you are out of denial.

 

Otherwise you are just loitering in denial and suffering!

 

Working out your figures, is the first step.

 

Then if you want to be a bit more sophisticated.

 

  1. Ask yourself what worked this month? What brought the money in?
  2. Or what didn’t work, what did I spend money on, that was more costly than I thought?
  3. You can then decide what you are going to do differently next month.

 

Also the perfect time to make sure everyone has paid you and you have paid all your bills.

 

Plus can you cover your bills for next month?

 

So it is quite simple and usually takes less than an hour.

 

It doesn’t matter whether you are doing it on a calculator and the back of an envelope or you have a sophisticated accounts system.

 

I don’t really mind as long as you know those 3 figures.

 

Your money in, your money out and the difference.

 

That’s it for this month, at the end of the month, enjoy.

For help with simple bookkeeping

 

All the best, Jenny

 

 


Money Goals that Motivate

 

Money goals that motivate and bring clarity to your situation.

So in our house, if we achieve our money goals plus a little bit extra, then we get a take-away, otherwise we have to cook.

Take-aways might not be your reward but actually giving yourself free or low cost rewards on a regular basis is extremely motivating.

 

If you work for yourself and don’t have a boss, then no one else is going to give them to you.

You need to do them for yourself.

So today we are talking about goal setting and whether you call it dreams, promises, targets, whatever, it doesn’t really matter.

What we are talking about today, is setting a simple weekly goal.

 

A simple weekly goal that is achievable, possible but just a little bit of stretch.

Just a little bit of stretch so you can achieve it.

 

For example

  • If you are just starting up setting the amount of a client, the monetary amount of one client a week is probably enough.
  • Or if you sell products and you are selling 10 a week, make it 12.
  • Often it is about consistency and achieving that money target, week in week out.  When you do you get that little reward.

 

So why do it that way?

 

I know that you might think, I can set that target but that’s not enough.  Actually you need to start somewhere.

Starting now with a weekly target builds that money goal achieving muscle.

Plus it puts you in a really positive frame of mind and when you are feeling positive about money, that makes a huge difference.

You can change it in the future if you want, well you hopefully you will once you go through those targets.

 

Think about it on a Friday night, or Friday you are thinking, oh I haven’t quite reached my goal.

 

It can be quite fun thinking how am I going to reach my goal?  Then the satisfaction of achieving it or looking at why not?

 

Or if you have had a really good week, having the afternoon off and enjoying yourself.

 

So if you would like to talk about setting your money goal, you can book an appointment with me for a 121 consultation either via Facebook or my website

Thank you for watching.

 


Connecting with your Customers

 

A bit of a scrabble today!

As you can probably hear, I am not at home, I am at the WiRE Conference in Newport, Shropshire.

 

I have my lovely stand here and you can probably see people behind me on their way out.

I have balanced my phone on a water cooler (and a lady just grabbed a drink and the whole thing wobbled!)

 

I just wanted to say, that today is about getting out and meeting people.

Because when you explain what you do to 130 people, you get it much clearer.

Also you are just amazed who you meet, I met someone and we are going to meet up and have a coffee to talk about collaborating, plus I learnt such a lot too, the speakers were excellent at always.

 

Don’t get stuck behind your computer. Get out and meet people, just every now and then.

 

Try and make it something that;

  1. You enjoy
  2. Your potential customers are here, because then you might get business too.

 

Thanks very much, see you next week.


Relaxing Tax Returns

 

Relaxing Tax Returns

 

I am always looking for ways to feel good around money.

 

One of the surprising ways I have found is, yes I know, doing my tax return in April.

 

One of my clients turned up and she was so relaxed and calm.

 

I asked her “how come?” and she said “I have just done my tax return.” and I thought yes, I would like that feeling.

 

I have done my tax return in April ever since.

 

Now you could be one of the half a million people who wait until the very last day, 31st January, to do your return.

 

Or one of the 2000 people who do it on Christmas Day – not sure about that.

 

Personally, I like to get to the end of the tax year, gather everything together and do my figures.

 

Then start the new tax year fresh.

 

Not worrying I am going to find a receipt in 18 months’ time and trying to think ‘what on earth was that for?’.

 

Sometimes I pay at the same time, if it is a small amount.

 

Mostly I put a few reminders in my diary, not to spend the money at Christmas and to pay in the New Year.

 

Thank you for watching.

 

 


Intuition versus Logic in Business?

Intuition versus Logic in Business?

If you want to be wildly successful, in the business of your dreams, you do actually need both.

 

Intuition is motivation, inspiration, passion and it all sounds very exciting.

 

Logic is work-ability, day to day practicality but it also ensures you make money.

 

Not so exciting for many people!

 

In fact, we tend to go one way of the other.

 

If you do want to be wildly successful,

then focus your time and money on both intuition and logic.

 

For support, contact me, Jenny@jennybracelin.co.uk

 

Thank you for watching.

 


Are You Missing the Obvious?

Are you missing the obvious?

 

It can be hard to see ourselves.

Sometimes we struggle on, doing what we think we ‘should’ do, rather than actually what we want to do.

This is often obvious to everyone else but ourselves.

 

I had a client,

let’s call him Dave, he was a massage therapist.

He was kind caring and compassionate, wonderful strengths in a massage therapist.

 

He also had a lot of tattoos on his head, face, neck and forearms, not necessarily a problem, except for they were very, very scary and dark.

He felt that was a weakness, when he had gone round the local beauty salons trying to get work.

There was nothing he could do about it because he had so many and also because he felt they were part of him and part of his journey through life.

 

So I said to him

“Why did you start your business?”

He said

“Because I had a massage in prison, which really helped me overcome my addictions.  What I really want to do is work in prisons.”

 

I thought, yes actually, that is obvious, you would work very well in prisons.

Your scary tattoos would actually be a strength, as opposed to a weakness.

Yet he hadn’t done so because he just felt he needed some experience in beauty salons first!

 

Once I said no, just go for the prisons.

He did and got work in the local prisons and I am sure he made a huge difference to the inmates there.

 

So what are you missing that is obvious, perhaps to everyone else, but not yet to yourself?

 

Thank you for watching.

 

 


Is There Anything I Need to Do With My Business Before the End of the Tax Year on 5th April 2017, in the UK?

 

Is there anything I need to do with my business before the end of the tax year on 5th April 2017?  (UK)

 

Now this is the time of year accountants and financial advisers get very excited, they are also quite often busy.

 

It is all to do with Tax Allowances, which I know sounds really boring but it is essentially the government’s way of encouraging us to do things , like savings and pensions and other things like that.

So before you glaze over and switch off.  I have made it as simple as possible.  So you can start your journey of understanding these things, because they are important and will provide for your financial future.

 

Let’s face it, most of us don’t get up in the morning going yeah! Let’s sort out our savings and pensions and tax allowances, how exciting!

 

So simple, so clear, let’s go.

 

If you bring home to you, less than £11,000, from all your jobs and businesses. That’s £11,000.

 

Here are my suggestions to consider.

 

Firstly

Putting some money in an emergency savings account – you know it is important, well now is the time to create or add to your emergency savings.

 

Secondly

To check your eligibility for the state pension, before you go ‘nooo, not relevant’ and dismiss it.

 

You only need 30 years of national insurance now to be eligible and if you are self-employed, it is actually a really good investment.

 

One they are probably going to change in a few years, so worth looking at this year.

 

This is the one thing I recommend you do – get a statement from the government on where you are with your state pension. click here to apply

 

So check out your state pension as it is a very good investment particularly when you are self-employed.

 

Lastly

Married Couples Allowance

I know it sounds archaic but was brought in by David Cameron and not of lot of people know about it.

It will give you £220 a year, so worth considering.  You can just apply online.

You are eligible if one partner is earning less than £11,000 and one partner is earning over £11,000.

Click here to apply.

 

I know, but you want to know these things, don’t you!

So that’s clear, if you are earning £11,000 or less. You can find out more on www.gov.co.uk

 

Let’s look at if you bring home over £11,000?

 

I have a few more tips to include.

 

The more you earn, the more important these things are to look at.

 

Firstly

Back to savings again – it is even more important now, that you have emergency savings.

When you earn over £11,000 you might want to put the money into an Individual Savings Account (ISA).

You will probably see lots of TV advertising and print advertising saying ‘Use your ISA Allowance’.

 

It is a place to put savings where we don’t get taxed, so well worth it if you pay tax, that’s an ISA.

 

In fact, the government has started a new Lifetime ISA if you are under 40 to encourage young people to save.  It is even better than a standard ISA.

http://www.moneysavingexpert.com/savings/lifetime-ISAs

 

Secondly

The second thing is a personal pension.

It is incredibly tax efficient to put money in a pension.

The government actively wants us to do it.

So once you start earning over £11,000 and definitely when you get to £43,000, you want to be putting money in a pension and providing for your future in some way or other.

 

Would recommend a financial adviser here or starting off with one of the simple ones, again check out https://www.gov.uk/personal-pensions-your-rights

 

Lastly

This is a business one

If you are about to make an expensive purchase anyway?  It can be worth consciously deciding which tax year to buy it in, either before or after the 5th of April.

Accountants get quite excited about this.

 

In conclusion

So that is it, not perhaps as complicated as you thought?

 

As I said, we never wake thinking, ‘let’s do the really complicated stuff today’ but it is worth it.

 

On this blog, as well as including the exciting things, I wanted to cover some of the more difficult things, people avoid, put off and generally blank!

 

The action for the end of the year,

well there is nothing you have to do but providing for your financial future is highly recommended.

 

Take one action today towards your future.  Put some money in savings and/or order your state pension statement.

 

Thank you very much for watching this, I have much respect for you watching these videos, particularly when they are about more difficult subjects. 

Thank you.  Jenny

 

 


Why Did You Start Your Business

 

Why did you start your business?

 

When you have been in business a while, you get asked that question a lot and you tend to have a short, pat answer, that you give to people.

But it can be worth considering because generally people are asking for 2 reasons.

 

Firstly to find out if what inspired you would inspire them, because they want to start a business.

 

Often they are just trying to find out more about you and your business.

To find out where you are coming from

 

To see whether there is a compatibility between them as a customer and you as a supplier.

 

If that is the case,

 

it can be worth incorporating it as part of your story in your about me or in your promotional literature. 

 

Maybe not in the original format but with some discussion with a friend or a partner, working out an inspiring explanation for customers.

 

But actually what I wanted to talk about today is the unrefined version, the raw version, the version that made you go

 

“I’m going to start a business” – that one.

 

So whether is was a career decision, to solve a problem, to make a difference.  Or out of desire, passion or just because?

 

It is worth capturing that feeling, the words, the decision.

 

So when you need motivation, inspiration or trying to make a business decision about which direction to go, having that held in your heart or on paper can be really useful.

 

It is worth bearing in that mind as your business progresses,

 

you might need to update and change it as you have solved that original problem.

but having something you are really passionate about or that moves you is worth hanging on to.

 

So let me ask you

Why did you start your business?