Financial Snickens

Some kids start lemonade stands while others sell chocolate bars for different school fundraisers, and these experiences might just launch the next big business owner.    In this episode, I recall my own entrepreneurial journey and how permission to think outside the box planted a seed that’s still influencing my professional career.  In this episode, you’ll also hear: Making money by helping others  Giving space for creativity  Encouraging an entrepreneurial spirit   Must-listen moments:  [00:02:00] What it got me inspired about, was it was a thrill to own my own business and be in charge and helping people and getting paid for it. [00:03:09] But he allowed me space to be me. He gave me the permission to think outside the box, and this fostered such a creative sense for me that it really allowed me to think of things that weren't being done. [00:05:43] It's a testament to the power of childhood experiences and the power of great teachers. It also reminds us that the seeds of entrepreneurship can be sown at the most unexpected times and places.  Mentioned in this Episode: Shawn Achor - Happiness Advantage - https://www.shawnachor.com/books/happiness-advantage/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Finding joy in your work is a lot easier when you have leaders that create a positive and supportive culture.  In this episode, I dial in on what keeps employees happy and ready to come to work, and game-changing advice to incorporate the “4 G’s” into your work life.  In this episode, you’ll also hear: The real reason people leave jobs  The value of praising employees  Power of the 4 G’s: Gratitude, Generosity, Growth, Grit Must-listen moments:  [00:00:59] Company culture is one of the strongest forces for happy employees. And it's the number one thing why employees stay with a company and the leaders are the ones who are creating the culture and delivering the message. [00:02:00] As a leader, you need to have faith in your employees and constantly talk about all the good things they're doing. [00:06:11] Even if you're in a situation where your manager isn't practicing the four G's and you're the employee, you can start and it's contagious. Mentioned in this Episode: Shawn Achor - Happiness Advantage - https://www.shawnachor.com/books/happiness-advantage/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Networking can be intimidating but events held by your local Chamber of Commerce can make connecting with other professionals easier.  In this episode, I shed light on my experience with my Chamber of Commerce and why you should consider joining yours to better serve your community while growing your business.   In this episode, you’ll also hear: How serving your community helps your business  Benefits of joining your Chamber of Commerce  Finding a Commerce that aligns with your business    Must-listen moments:  [00:01:39] You are not there at these events to talk about your business. You're actually there to talk about how you can help others. And when you offer to help without asking anything in return, that's when you make really strong relationships and become part of the community.  [00:03:09] My business exploded from being part of the chamber and being active in it. And it wasn't because I was the smartest or best accountant there, but it was because when people met me, they saw somebody who serves others. [00:06:33] Through workshops and networking opportunities, you can learn from successful business leaders and gain insight and apply those strategies and help contribute to your business growth. Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Time is money so it’s always important to enhance efficiency when you’re trying to run a business.  In this episode, I share our current favorite online tools that can help streamline your business operations and save you time and money.    In this episode, you’ll also hear: Details about ScribeHow’s screen capturing features  Seamless receipt management and more with Corpay One The professional advantages of ChatGPT Must-listen moments:  [00:01:43] The result is that it takes pictures of each screen and it transcribes the actions that you took, and it highlights where your cursor is so you don't have to do anything except for do a little bit of editing, and a process that would have taken at least 20 minutes…is now down to 30 seconds. [00:04:24] You can also pay bills through it and set up an approval system…and it's really streamlining all of the accounts payable side and receipt collection, which is always a big pain for business owners and anyone who works with employees, even yourself.   [00:06:33] We've been impressed with what Chat GPT comes back with, and we've been able to use these well-crafted responses to be able to answer questions that would normally take us a lot of time and create some angst, too, but it allows us to be professional and give quick responses.  Mentioned in this Episode: ScribeHow - https://scribehow.com/ Corpay One - https://cp.corpayone.com/ ChapGPT - https://chat.openai.com/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Remember when checks were the standard form of payment for businesses? Thankfully, Automated Clearing House, or ACH payments, offer a more convenient option for businesses to receive payments from clients. In this episode, I explain what ACH payments are and how they ensure a steady cash flow while enhancing your client’s overall buying experience.  In this episode, you’ll also hear: Streamlining the payment process for clients  Benefits of automatic payments with ACH  How ACH payments increase security and efficiency Must-listen moments:  [00:01:09] It's a simplified payment process for your clients. They can set up these automatic payments and it creates convenience for them. [00:02:07] When you set up this automatic ACH payment system, it empowers you to collect from your clients promptly and as a designated date. [00:07:11] It is a game changer. The biggest reason why small businesses go out of business is due to (lack of) cash. So, moving to ACH will keep you in business, keep your clients happy, and give parameters on the expectations you have.  Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Do you have folders full of financial documents from 5,10, 20 years ago? It’s common to think you should keep every document but it’s not always necessary.   In this episode, I review different financial documents and how to know which ones to keep and how long to wait before shredding them.   In this episode, you’ll also hear: Rule of thumb for tax documents  Closed vs. active documents    Suggestions for storing documents long term   Must-listen moments:  [00:02:54] You want to keep all tax records and all related documents, your receipt, your bank statements, for three years from the date you file your return, or two years from the date you pay your taxes, whichever is later. [00:03:45] Keep active contracts, insurance documents, property records, stock certificates, keep all these items while they're active. After the contracts are completed or the policy, the insurance policy expires, then you can destroy those documents. [00:05:29] Keeping your documents organized, both online and with paper, will give you easy access to them if you need them, or even better if you need to purge them. You know exactly what you're going to purge, and you also know what you need to keep. Mentioned in this Episode: ShareFile - https://www.sharefile.com/ IRS -https://www.irs.gov/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

The more we know about ChatGPT, the more we can use it to our advantage instead of being afraid of it. In this episode, I examine what ChatGPT is, what questions to ask it, and how artificial intelligence might benefit your business more than you realize. In this episode, you’ll also hear: Flaws of ChatGPT How to verify ChatGPT content Using ChatGPT for your business   Must-listen moments: [00:00:54] The GPT in ChatGPT stands for generative pre-trained transformer, which is a program that can realistically write like a human and interact in a conversational way.   [00:04:08] If you are going to ask something that is complex, ask ChatGPT to cite its sources, and that way, you can actually check back on those things.   [00:05:09] You can actually have ChatGPT write an ad for your marketing services, and you can do it in all different kinds of languages.   Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial  IG- https://www.instagram.com/firststepsfinancial/  LinkedIn -https://www.linkedin.com/company/first-steps-financial/    

Budgeting doesn’t have to be complicated. Your business budget can be a simple spreadsheet or it can come with all the bells and whistles from the latest accounting software.    In this episode, I cover easy ways to budget your business finances, how automating payments can predict your financial future, and why the best time to start or review your budget is always now.    In this episode, you’ll also hear: Benefits of using a budget  Automating your finances  Spreadsheets vs. accounting software  Must-listen moments:  [00:00:26] Budgets are not set in stone. It's something that you are going to revisit often. [00:01:03] One of the most important aspects of budgeting is tracking your income and expenses, and this gives you a clear picture of where your money's going, where it's coming in from, and it actually helps you to allocate your resources. [00:03:05] If you're starting from scratch on a budget, if you haven't even done a budget yet for this year and you want to start now, go for it. The best time to start a budget is today. Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

It’s no secret raising a kid, much less raising multiple children, takes a ton of hard work. And yet, many people still don’t realize that motherhood is the perfect training ground for being a rockstar entrepreneur or employee.    In this episode, I dial in on what gives moms and caregivers a natural advantage when it comes to running a business.   In this episode, you’ll also hear: Multitasking superpowers of moms and caregivers  Why moms rock at problem solving  What moms can teach entrepreneurs about empathy    Must-listen moments:  [00:00:47] We like to hire moms, or someone who has run a household, or taken care of kids. They make incredible employees for us because they understand how to put out the fires and in what order. [00:03:05] From resolving conflicts with children, with spouses…they have to deal with people at school, whatever it is, they find creative solutions for these everyday challenges that they come across.  [00:04:41] When you are the business owner, you're talking about your clients and you need to understand their needs, and you are developing these lifelong relationships with them if you wanna keep these clients, and mompreneurs tend to know how to do this already. Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Recruiting employees who easily mesh with your team, align with your values, and have the skills you’re looking for can feel like finding a needle in a haystack. In this episode, I reveal 4 ways to find employees by using non-traditional platforms, online communities, and leveraging your existing talent!  In this episode, you’ll also hear: Tapping into industry specialists  Defining your ideal employee based on current talent Exploring online groups and employee referrals     Must-listen moments:  [00:02:05] For niche industries, thinking outside the box and employing unique recruitment strategies are gonna help you to find those unique people. [00:03:03] My best employees have come from these online communities…we explored spaces that we knew we hung out in when we first started. [00:05:05] One way that we have really been able to excel our hiring process is to tap into our current employees.   Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

If you want to increase your profitability, you must know your numbers, especially the expenses of your direct and indirect costs.  In this episode, I break down the difference between direct and indirect costs, and how to know if you’re charging enough so you can cover your business expenses while still earning a profit!      In this episode, you’ll also hear: Understanding direct costs and cost of goods sold  Calculating your gross profit margin How knowing direct vs. indirect costs increases profitability   Must-listen moments:  [00:00:43] Direct expenses are expenses that are directly related to the sale of your product or service. [00:02:46] Indirect expenses…they are things that cost to run your business, but they're not directly related to the item that you sell. [00:05:44] Knowing the difference between those two [direct and indirect costs] is incredibly important because it'll keep you profitable. If you're charging enough for your product, and able to pay for your direct costs, and cover your indirect costs, and have money left over—that’s really good!   Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Summer means hot days and long nights, and hopefully some time to slow down and take a much needed break. In this episode, I share 5 tips for making the most of your summer to keep your business on the right track for the rest of the year.      In this episode, you’ll also hear: Taking time to celebrate your business  Mid-year review of your business goals  Going for big dreams  Must-listen moments:  [00:00:59] Take stock of your accomplishments, anything that you've accomplished in the first half of the year. Celebrate it. Find a way to praise yourself.  [00:01:54] When you take a break, you can come back with clarity and maybe even be able to see those situations from a different point of view. [00:03:46] Do those projects fit into the end of the year? Do they fit into my idea of what I want to happen by the end of the year? You have to decide that and really start to say no, and no is a powerful answer. Mentioned in this Episode: Guideline - https://www.guideline.com/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

How much should a business owner draw as their take-home pay? Too much, and you’re draining the business, but too little and your personal financial struggles will take the business down with them.  So, how can entrepreneurs calculate their own fair wages? And how do they account for taxes and health insurance in their paycheck?    Learn guidelines for how business owners can accurately determine their take-home pay, 5 things an entrepreneur’s compensation should cover, and when it’s time for them to reexamine the finances of their business.    In this episode, you’ll also hear: How business owners get paid  5 key items to cover with your pay  When to readjust your business model Must-listen moments:  [00:00:41] There are two major ways that you get paid through a business as the owner, you get an owner's draw, or you receive a paycheck. [00:05:07] You should be making money. You take all the risks of your company, you work all the crazy hours, you do all the work, and you should be compensated accordingly. [00:06:17] If you’re still doing that after years of being in business, or if you constantly have cash flow issues related to you taking a salary, then something is wrong, and you need to take a closer look at your revenues and expenses.     Mentioned in this Episode: Guideline - https://www.guideline.com/ Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Who’s the administrator on the software accounts you use to run your business? Think about your website, your bookkeeping and payroll software, and even your social media?  In this episode, I explain why you should always be the master admin of any software your business uses, 4 rules to prevent fraudulent access, and tips for when it’s necessary to share access with your team.    In this episode, you’ll hear: Primary admin access for business software 4 Steps to protect your accounts Suggestions for when and how to share access  Must-listen moments:  [00:00:50] You gotta have systems in place that allow you to have access to what you need in case your trusted person leaves. [00:03:16] Any software that you have, and this includes QuickBooks Online, your website, bank accounts, anything that you use online—it should be under your name. [00:04:16] You can put a plan in place where two separate people on your team have access to one piece of information. Maybe one person has access to your username, and one person has access to your password.   Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Did you know there are free tools that can help you find unclaimed money or boost your savings? Find out my top 3 favorite money-saving tools that are absolutely free and easy to use so you can stash more cash!   In this episode, you’ll also hear: Details about Utah State University’s Power Pay  How to find money using Unclaimed.org  Why you should track your credit with Credit Karma  Must-listen moments:  [00:00:48] Power Pay gives you the tools to develop a personalized, self-directed debt-elimination plan. [00:01:33] Search the unclaimed property list for your name to potentially find money, dividends, uncashed checks, mineral rights payments, etc) and follow the instructions on how to claim it.  [00:01:53] Credit Karma is a must-have…it keeps track of your credit alerts, and it makes you aware of any changes or errors in your credit report.   Mentioned in this Episode: Power Pay - https://extension.usu.edu/powerpay/ Unclaimed.org - https://unclaimed.org/ Credit Karma - https://www.creditkarma.com/   Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Firing a client is never easy, but sometimes it’s necessary in order to protect your business and your core values.  In this episode, I highlight things to consider before cutting ties with a client, and why it’s crucial to salvage as much of your professional relationship as possible when it’s time to say goodbye. In this episode, you’ll also hear: Steps to take before firing a client  My recommendations for documentation and formal disagreement letters Why you should avoid burning bridges with clients  Must-listen moments:  [00:01:35] Be very clear and specific about the issues you've identified, try to remain professional and avoid becoming emotional. [00:02:36] Provide a very clear and specific formal disengagement letter to the client. It should include the reasons for the termination, how information is gonna be passed on, and the date on which the relationship will actually end. [00:03:34] If possible, try to resolve the issues and maintain a positive relationship. However, if the relationship becomes too difficult or damaging to you or your business, it may be necessary to part ways, but do your best to leave the relationship on good terms. Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Understanding the numbers of your business is key to its growth and success. But what should be measured to truly know how a business is performing?   In this episode, I cover 8 KPIs, which key performance indicators are most useful to tracking your business’ progress, and how to know when to change what you’re measuring. In this episode, you’ll also hear: 8 Common key performance indicators (KPIs)  Benefits of measuring your Net Promoter Score (NPS) Understanding when to change KPIs   Must-listen moments:  [00:00:40] KPIs are metrics that help you measure progress towards your goals, and they can vary widely depending on the industry and your company and the type of business that you're in. [00:02:00] We use Net Promoter Score in everything that we do, and it's easy to collect data on this. What it does is it measures client satisfaction and loyalty by asking customers how likely they are to recommend the business to others. [00:03:30] You might decide that you want to change what you're measuring because the organization is moving in a different direction, and it's important to identify the KPIs that are most important to your business and track them regularly. Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com Reach out to Alisa: Alisa@firststepsfinancial.com Connect with us on social media! FB - https://www.facebook.com/FirstStepsFinancial IG- https://www.instagram.com/firststepsfinancial/ LinkedIn -https://www.linkedin.com/company/first-steps-financial/  

Are you ready to unlock the secrets hidden within your profit and loss statement? Get ready to discover the power of this document as we dive deep into its significance. Join us as we unravel the mysteries of your profit and loss statement and explore how it can revolutionize your business decisions. From setting prices and forecasting growth to obtaining loans and attracting investors, this report holds the key to your success. We'll also reveal how your profit and loss statement plays a crucial role in effective tax planning, ensuring you keep more of your hard-earned money. Don't miss out on this episode packed with invaluable insights. Tune in now and learn how to unleash the full potential of your profit and loss statement!       Key Highlights:   [00:00 - 02:53] Unlocking the Power of Your Profit and Loss Statement   Profit and loss statement is the first report to review every month You can use it to make decisions on setting prices, developing sales targets and forecasting growth It is necessary for good tax planning advice     Key Quotes:   “If you're applying for a loan, a profit and loss statement will be the document that will be needed.” - Alisa McCabe   “Your profit and loss statement reports the total income that's come into your business.” - Alisa McCabe         Learn more by connecting with me through LinkedIn, Instagram, and Facebook. Head to our website and click on the Let’s Talk button http://www.firststepsfinancial.com   If you liked the show, please LEAVE A 5-STAR REVIEW, like, and subscribe through your favorite streaming platform!

Attention all entrepreneurs! Are you tired of feeling overwhelmed by your business finances? Do you struggle to keep track of your accounts? Then join us for a conversation on how to manage your finances better! In this episode, we'll cover the different types of accounts available to entrepreneurs, including the benefits of having a business checking account, money market accounts, savings accounts, and certificates of deposit. We'll delve into the features of each account, such as interest rates, minimum deposits, and monthly fees, as well as special offers from banks that you won't want to miss. Plus, we'll share tips on how to meet minimum balance requirements and identify other institutions that offer higher interest rates. Don't miss out on this valuable information – tune in now to start managing your business finances like a pro!       Key Highlights:   [00:00 - 06:08] Uncover the Benefits of Having a Business Savings Account and Find Out About Deposit and Withdrawal Limits   Savings accounts may have no minimum fees and no monthly fees Having checking and savings accounts at the same bank may be more effective than having separate savings accounts  Institutions other than main bank may pay higher interest rates on savings accounts     Key Quotes:   “Having your checking account and savings account at the same bank might be more effective than having a separate savings account at a different bank.” - Alisa McCabe   “Make sure your business cash works as hard as you do.” - Alisa McCabe       Learn more by connecting with me through LinkedIn, Instagram, and Facebook. Head to our website and click on the Let’s Talk button http://www.firststepsfinancial.com   If you liked the show, please LEAVE A 5-STAR REVIEW, like, and subscribe through your favorite streaming platform!

Are you a business owner struggling to make sense of your finances? Do tax time and loan repayments leave you feeling confused? Fear not, as we have got you covered in this podcast episode! Join us as we unravel the top five questions that entrepreneurs commonly have around financial misunderstandings and provide you with actionable tips to navigate them. From demystifying loan repayments and owners' draw to understanding how to record funds properly, we've got everything you need to know to make informed decisions about your finances. Alisa will guide you through managing cash flow, tracking expenses, and comprehending profit margins. Don't miss out on this opportunity to take charge of your finances and make informed decisions for the growth of your business!       Key Highlights:   [00:00 - 02:28] Uncovering the Most Common Misunderstandings About Your Financials Tax time is a stressful time for everyone  When repaying, money is given back to the bank and interest is an expense  Interest is recorded as an expense on profit and loss statement   [02:29 - 07:23] Understanding Owner's Draw: Why It Isn't an Expense to Your Business Bank balance decreases when you pay a loan, but it doesn't increase your expenses  It is critical, as the owner, to understand your entity type so that you can comprehend how you can take money out of the firm     Key Quotes:   “Your bank balance decreases when you pay the loan….but it doesn't increase your expenses.” - Alisa McCabe   “It's really important to know what type of entity you are so you can record and understand how you as the owner can take money out of the business.” - Alisa McCabe         Learn more by connecting with me through LinkedIn, Instagram, and Facebook. Head to our website and click on the Let’s Talk button http://www.firststepsfinancial.com   If you liked the show, please LEAVE A 5-STAR REVIEW, like, and subscribe through your favorite streaming platform!