Eat Blog Talk 624: What is "Healthy Business Spending" and How to Use It To Boost Business Profitability with Danielle Hayden
In episode 624, Megan chats to Danielle Hayden about developing a healthy mindset when it comes to business spending and why wise business investments pay off.
Danielle is a CPA, author, Co-Founder and CEO of Kickstart Accounting. She is a seasoned Chief Financial Officer who is rewriting what it means to provide bookkeeping and consulting services to high-earning female business owners. The Kickstart Accounting Inc. team is the one-stop-shop that provides their clients with bookkeeping services as a tiered system that grows with the business as needed. Additionally, they offer online courses (think all things money mindset), payroll services and tax consulting services. Since their founding in 2015, the Kickstart team has helped thousands of high-earning service-based business owners grow and scale their businesses to new heights.
In this episode, you'll learn about using an accounting system to track income and expenses, how to align spending with business goals, and invest in areas like advertising and marketing.
Key points discussed include:
- Invest in your business to grow, don't just cut spending: Cutting back on necessary expenses can jeopardize your business growth. Instead, invest in areas that will support your goals.
- Know your numbers monthly: Having an accounting system and reviewing your finances monthly will help you make informed decisions and avoid overspending.
- Align spending with your intentions: Determine your business goals for the next 12 months and ensure your spending aligns with those intentions.
- Consistency builds trust: Showing up consistently, whether with content or marketing, sends a message that you are a reliable business.
- Start with one investment, more will follow: Begin with one strategic investment, and other opportunities will reveal themselves as you progress.
- Outsource tasks outside your expertise: Don't try to do everything yourself; outsource bookkeeping and other tasks that are not your zone of genius.
- Advertising and marketing are key investments: Prioritize spending on advertising and marketing to support business growth, but be patient and consistent with your efforts.
- Believe in yourself and your business: Your mindset and the messages you send to the universe through your investments can impact your success.
- Review and adjust spending regularly: Reassess your spending and align it with your evolving business goals and life stages.
Connect with Danielle Hayden