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Kamis, 20 November 2008

Panduan Bisnis: Get Your Financial House In Order...Before You Lose It!

How to Get Started

Do you really know how you're doing financially? Do you have to
check your wallet and your bank account on a daily (or even
hourly basis) to know how much cash you have? Are you making
purchase decisions based on a plan that you know will lead you
to financial freedom - or at least a good night's sleep? Take
heart - you're not alone. Ask a few people to honestly tell you
if they have both their business and personal finances in order
and at least 80% or more will say "not really".

I teach small business owners how to run their business
operations more effectively. The key is to become more
financially savvy. If you have a handle on your finances, the
rest of the business - managing the people, workflow and your
time - will seem like a walk in the park. Everyone has personal
finances, so if you don't own a small business, then use these
ideas for your personal life. They apply too!

To have a strong, secure and orderly financial house, you must
build it this way:

* The foundation of your house is having a money management
tracking system. If you don't know what you have, you can't make
wise decisions. Your system must be simple, easy and effective
to follow. It should create a flow in your life that includes
dealing with the paper, paying bills on time, showing you what
reality is and saving time and stress at tax time. Ahhh, what a
relief...after that, build a wall.

* The first wall of your house is to have a plan for the future.
Once you have your foundation and your system flows smoothly,
begin to concentrate on establishing a budget and forecasting
for the future. You will use this as your blueprint for building
a stronger house and let it help you with your spending and
saving decisions.

* The second wall of your house is to know where you are at so
you can make changes if necessary to your dream home. You must
measure not only your financial numbers, but also your
operations - including you!

* No house would be complete without a roof or everything inside
can wash away. The roof of your financial house is your
discipline. It is critical as you build your foundation and a
key factor as you firm up your walls. Once your house is complete,
it is way too easy to let up since you think you're done. A
strong financial house requires maintenance. You are the manager
and steward of your finances. Staying vigilant, mindful and
purposeful takes discipline. Use this in every phase of your
financial building project to keep your day-to-day flow going
smoothly, to review your plan and push yourself with measurable
goals!

So...how does one get started? You MUST start with your
foundation. Every business, no matter how small, must have an
"accounting" department. Yep, even us solopreneuers! The IRS
says we must have a good recordkeeping system in place, so be
ready in case you're ever audited. (This is NO different for our
personal finances either.) Here are three things you can do to
shore up your foundation.

* Get a paper management "system" in place that provides a
stress-free flow. Corral your financial stuff in one place and
create a bill payment area for you to work. Include a simple
filing system for all your receipts, accounts statements,
customer invoices and reports. Have some retention guidelines to
help you decide what to keep and what to toss.

* Use some sort of computer tool. QuickBooks for a small
business or Quicken for home. Heck, even use a spreadsheet like
Excel if you need to start somewhere.

* Determine a regular schedule of when you will handle your
financial matters. Create a checklist to help remind you what to
do on a weekly, monthly, quarterly and year-end basis.

Just get started! Sharpen your discipline now and agree to stick
with it for six months. I promise you'll see results in just a
few months if you are honest with yourself and make some
changes. If you fall off the cart, get back on! This is the one
area in which you are in control.

(c) 2008 Debbie Gilster. If you would like to reprint this
article, you may do so absolutely free. You may use the article
as is or make minor changes so long as the byline is reprinted
intact and all links are made live. A courtesy notice of
reprint or excerpt is appreciated.

Need more help with finances or productivity issues? Debbie
Gilster of the Center For Growth and Productivity created her
online newsletter "Effective Results" just for you. To get a
complimentary subscription packed with practical, how-to ideas
about running your business and your life visit
http://www.DebGilster.com and while you're there take a look at
our online classes, products and programs that will help you
become financially savvy.

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