062: Transform Your Cash-Eating Business Monster to a Money-Making Machine
With Connie Vanderzanden
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Money is always an uncomfortable topic. I mean, people don’t joyously chit chat about taxes and financial planning at the dinner table, right?
I think it is safe to say that most entrepreneurs just want to do the work but many of us are guilty of putting financial planning on the back burner. We all know that we need to get cozy with our business finances but just seem to get stuck and continue with bad habits.
Today’s guest, Connie Vanderzanden, is on a mission to help entrepreneurs live the lifestyles they desire by learning the simple steps, structure, and discipline to create and save money. With 34 years of accounting and bookkeeping experience, a variety of industry knowledge, and her own real-life business growth journey since 2001, Connie developed the Going Beyond Revenue Cash Handling System, focusing on cash flow planning that creates profitable and sustainable businesses.
Connie is here to help you get on track and turn your cash eating business into a self sustaining machine that actually pays you.
In this episode, Connie talks about:
- What brought Connie into the world of money and finances and why she loves mentoring businesses. 3:32
- The common mistakes people make that puts them in tough financial positions and how to avoid them. 5:47
- Starting the journey to transform your cash eating business to a money eating machine. 10:54
- Tips to understanding your most basic and minimal financial commitments. 13:48
- Setting up a cash handling system. 17:53
- Some quick and easy actions to start you on a healthy financial path. 24:03
- Savings and why you need a cash reserve. 26:45
- Resisting the urge to spend every dollar and change your money mindset. 30:13
- Making intentional money related decisions as an entrepreneur. 33:17
Have a profit cushion. Create a system in your business where your savings, a little bit of money, half a percent to up to 5% or 15% if you’re more successful business, but something that creates a cash cushion so that you don’t have to be dependent on a bank loan. You don’t have to be dependent on credit card or pay those outrageous interest rates that you have can actually physically see how money is supporting you and your business.Connie Vandersanden
Connie’s honesty is so refreshing. I love that she reminds us that money isn’t good or bad but a tool for us to make a difference in the world.
We need to let go of the shame around not being great with finances, especially when we have people like her around to help guide us with expert advice and actions that we can implement into our lives… today!
Understanding our cash flow is so important to a successful and sustainable business, and Connie provided us with a ton of resources to help us get there – be sure to check out her socials for all the goodies.
Connect with Connie:
YouTube: Profit With Connie
Mentioned in this episode:
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