How to Mentally Prepare to When You’re (finally!) Facing Your Business Finances | Pacific Rock Accounting

How to Mentally Prepare to When You’re (finally!) Facing Your Business Finances

by | Jul 15, 2020 | Accounting Systems and Tools, Money Mindset | 0 comments

That big pile of receipts.

That email folder full of invoices.

Those bank statements that are sitting in unopened envelopes, stashed in an easy-to-ignore corner in your office.

Those voicemails from the tax people that you just keep forgetting to respond to.

How am I doing? Is it like I can see how you deal with your business finances?

Don’t worry. I don’t have a crystal ball and no one’s sent me pics of your office.

I just know from experience that this is how it is for so many creative entrepreneurs who have been in business for a year or more and feel overwhelmed and, let’s face it, bored by the accounting tasks that your business needs you to do.

How do I know? I’ve been working in banking and finance for 25+ years, and I’m not exaggerating when I say that the majority of clients I work with come to me with shoeboxes and files that take us back a year or more in accounting.

So hopefully that makes you feel better.

See, when my clients hire me, it’s not my job to make them feel crappy about leaving their accounting for so long. So allow me to give you the best business advice you’ll ever get: You don’t need to feel crappy about your business finances.

In fact, the more crappy you feel, the LESS likely you will want to tackle your finances, and the MORE likely you are to sit in said crappy feeling because you’re not getting anything done. #ViciousCycle

How about if from this point on, you commit to getting your accounting caught up, and I walk you through the steps you’ll need to take to get that “money stuff” caught up?

In fact, I’ll make this super easy for you:

Here are the first steps you need to take BEFORE you actually start sorting paper and filing emails and invoices. That’s right. This list is to help you get mentally and emotionally prepared to tackle the job that you’ve been putting off for one reason or another.

[If you’re ready to get to the nuts and bolts of getting your accounting caught up, download the guide HERE.]

Make no mistake: Even though these might not be technical accounting tasks, these ARE extremely important steps. They are perfect for you if:

You’re the type of person whose palms get sweaty when you start to think about your business finances.

AND/OR you’re a master procrastinator any time you plan to sit down with your accounting.

AND/OR you panic, cry, lose your s*&%, any time you are “supposed” to look at your finances, then this list is for you.

As they say in every Youtube “How To” video known to humankind: Let’s get started!

1. Make some space in your calendar to have a quiet Money Date. Seriously. Do it.

Special note: I know in COVID days that it’s tough for a lot of people to get away from all the people in their house (e.g. parents 🙋🏻‍♀‍), so hopefully you can ask for some support to get some time and to yourself.

2. Keep your eye on the prize.

It’s sucky to feel like you HAVE to do something. In fact, you might find you rebel whenever anyone tells you that you NEED to sort out your finances, right? Except, you actually do because waiting will cost you money, time, energy and emotions.

So let’s make this nice, OK?

And to do that, remind yourself what you’re going to achieve – over and above tidy accounting – when you sort out your books.

To do this, you can ask yourself one or more of these questions:

“What opportunities will I create for myself when I’ve finished this work?”

“How will my business thank me when I’m done?”

“What will I have time to do once I wrap this up?”

“How will I feel when I know that my business finances are under control?”

3. Feel the feels.

If you haven’t downloaded and spent some time the Money Mindset Restart Guide (A.K.A. FREE money coaching), it’s time to do that. It’s KEY to setting yourself up for success.

4. Pull out your Financial Catch Up List, found HERE.

I’ve created this list so that it’s simple and easy to understand. No jargon. Just what you need to know.

Plan another date when you’re going to spend a day getting this done.

Seriously, plan a day. You might get it done in a few hours, but leave yourself even time to track down the docs you need and file accurately. If you’re done early, then have a back up celebration plan. Heck, plan on celebrating anyway! 👍

Merideth Bisiker | Owner, Pacific Rock Accounting