Ean recently spoke on the Mompreneurs Worldwide podcast, sharing her essential bookkeeping tips for business owners. Ean talked about how the “unsexy” parts of business can often be the most neglected and highlighted the importance of knowing your numbers.
Here are some value bombs covered in the episode:
- “I think that’s one of the places that a lot of businesses take a wrong turn is they go oh, look, I have $1,000 profit for the month I’m going to reinvest that in the business. Well, now you have zero profit because you’ve just created expenses, so the system that I like to use is if you are earning revenue, choose to set aside 1% of what’s available.”
- “It’s important to have a tax accountant that knows your laws. And that, to me is the difference between what a bookkeeper does and what an accountant does. Because some bookkeepers do accounting, some accountants do bookkeeping. So the difference for me is who’s in charge of the management of the day to day information, and who’s in charge of the compliance with the tax law.”
- Think of the good that you’re doing, think of the beauty that you’re creating. And if you were earning more and had more leftover, wouldn’t you do more? Wouldn’t you make things even better, even more beautiful? It’s not about hoarding cash like a dragon, it’s about using money as the tool that it is to get you the things you want out of life for you, for your family, for your community and the world.
Click here to listen to the episode on the Mompreneurs Worldwide Podcast.
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Ean Price Murphy is a business owner, business coach and Certified Profit First™ Professional. She enjoys sharing her perspectives on small business, bookkeeping and the strategies companies can use to better manage cash flow and maximize profit.
Ean is a frequent guest on established and up-and-coming podcasts and webinars and also shares her passion and expertise via a variety of virtual and in-person events.
If you’d like Ean to be a guest on your podcast or webinar, you can learn more about her favorite interview topics and how to contact Ean here.