t year as a small business owner felt like an episode of the Looney Tunes coyote and roadrunner show. Unfortunately for me, I was the coyote, trying to catch the financially savvy roadrunner who was always several steps ahead of me. Bookkeeping, time-management, and proper tax preparation were my anvils, cliff dives and dynamite.
Step 1: Learn from Past Mistakes
In the 20-20 hindsight life tortuously provides us, I can see the glaring rookie mistakes I made along the way of the adventure superhighway that is being a first-time business owner.
When I think of taxes, I think of drowning in paperwork that wasn’t filed correctly, tearful regrets and melancholy monologues fueled by overcaffeination, despair and confusion – and this year did not disappoint. As I prep last year’s financial documents, I am becoming painfully aware that my finances were not quite as fabulous as I thought they were.
Step 2: Get Help
Instead of going to a professional, I trusted the advice of other entrepreneurs, family and friends, which turns out was not the best idea. Unfortunately, the IRS doesn’t accept the “But he told me I didn’t have to do it!” excuse. The best thing I did this year was find an accountant I trust and sitting down with her to go over last year’s finances and ask her what I can do this year so I won’t make the same mistakes again.
Additionally, I discovered a couple of amazing websites created by women for women that have become my daily dose of financial wisdom and business advice. (Gentlemen, these sites are equally as beneficial for you – just maybe not the pregnancy articles.) My goal this year is to have fabulous finances, and I found the perfect ladies to lead the way:
Step 3: Move Forward
To help me avoid future financial woes, I decided to incorporate reading my daily GoGirl Finance and Daily Worth emails into my morning ritual. Reading a few articles with a delicious cup of coffee help me start my day feeling empowered and armed with tools to help me run my business more efficiently and make better choices with my money.
Instead of lamenting about the past, I am choosing to improve my chances of success in the future by implementing new habits TODAY that will help me reach my financial goals.
If you like the sites I recommended, or have any suggestions about what other sites I should check out, email me or comment below!