Franchise Euphoria How to Control Your Finances So You & Your Business Prosper - with Emily Chase Smith
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Emily Chase Smith – How to Take Control of Your Finances so You & Your Business Prosper
This week we discuss one of the things we all HATE to discuss. Money. Finances are the backbone of business but money is an issue that many avoid facing, especially if on shaky financial ground. Emily Chase Smith describes this as a fingers-crossed mentality. We cross our fingers and hope all will be well. Looking from the outside it is easy to see this is the worst thing you could do.
Listen in to hear about the process she goes through when she works with her clients to get them on better financial footing.
About Emily Chase Smith
Emily graduated law school at 21. Her family lived overseas for 5 years and when she came home she decided to focus her law practice on bankruptcy. She liked bankruptcy because you’re taking someone in a tough position and improving it dramatically – unlike most other areas of the law.
She started seeing patterns that her clients were going through. She realized that if she had just seen them a year before they may have been able to avoid the situation that they were in now. She wanted to help them before the real problems began – to be a lighthouse. Now she works with businesses that may be on shaky ground but with a little guidance can come out stronger and more financially stable.
Join us as Emily shares her tips on becoming a financially savvy entrepreneur.
Show highlights
- Identifying long term goals
- Assessing/understanding your financial standing
- Money Personality
- Exit Plans
Emily discusses the importance of identifying your long term goals so that you can identify the correct path to take and take it. The next step she takes with her clients is to go over all the financial records for the business with the owner, helping them understand where they are and how they might move forward. She also discusses the need for an exit plan.
Another key aspect she discusses is knowing your money personality. Not sure what that means? Listen in as she explains.
Episode Resources
Untangling Your Money Spaghetti Course
The Entrepreneur’s Money Podcast on iTunes
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