Business By The Books with Danielle Hayden The Myth About Cutting Your Spending! - Ep 158
Do you know what healthy spending looks like in your business? In this episode, Danielle Hayden tackles the crucial topic of spending in business with Kickstart Accounting Inc. Operations Manager Victoria. They break down the standards for healthy spending across key areas like advertising and payroll, highlighting how business objectives might influence your spending allocations. Danielle then shares her 3-step framework designed to reshape spending habits in your business, aiming for strategic growth and sustainability.
Key Takeaways:
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Spending is essential to reach your business goals and attain operational efficiency.
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Understanding your Money Mindset Personality can guide your financial decisions.
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Your spending strategy will vary depending on the season of your business, from the startup phase to growth mode.
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Profitability isn't just about revenue; optimizing time and operational efficiency is key to building a healthy, sustainable business.
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Don't be afraid to negotiate discounts for systems to decrease operational spending.
Topics Discussed:
Misconceptions around women and money (1:55)
Spending money to achieve business goals (4:09)
Understanding your Money Mindset Personality Type (6:00)
Analyzing spending with our Healthy Percentages Worksheet (8:34)
Client example: Jenna's story of spending for business growth (12:22)
Payroll spending and sustainability (14:18)
Investing in systems for operational efficiency (20:23)
Outside services and training for business development (24:33)
Facility costs, co-working spaces, and travel expenses (27:54)
Implementing the Healthy Spending Framework (29:40)
Take the Money Mindset Personality Type Quiz: https://kickstartaccountinginc.com/quiz
Download the Healthy Percentages Worksheet: https://kickstartaccountinginc.com/healthy/
Download the Financial Goal-Setting Worksheet: https://kickstartaccountinginc.com/goal/
Learn more about the Money Mindset Mastery Course: https://www.e-suite.co/money-mindset-mastery-sales-page
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting
YouTube | https://www.youtube.com/channel/UC7T_NMMpY1u7bnBrNptEYkA