Blog - SMI Financial Coaching

Start Up + Organization

3 Keys to Success When Hiring Employees

Do you currently have employees? If you don’t, this is the best time to be reading this post. If you do have employees or freelancers, what has been your biggest challenge? I’ve seen businesses flourish when they have a star employee, but struggle and sometimes fail when their star employee quits. It can be stressful,…

Ultimate Guide to Organizing Your Business Finances

After working with and studying many busy entrepreneurs, I found that most small business owners are great at what they do, but don’t understand the numbers. Or, they don’t know what they don’t know, and are overwhelmed trying to learn the business and financial side of running a business. I took these common mistakes, knowledge…

Opportunity Cost of Not Fixing What’s Broken

When writing my first book and getting behind on my initial deadlines, I realized that I had writer’s block because I couldn’t think clearly. I was never as productive when working from home, so I would often escape to my local coffee shop to write. Every once in a while, I would try to save…

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Finance + Taxes

How to Read a Profit and Loss Statement

Do you know how to read and understand your profit and loss statement? The profit and loss statement, commonly referred to as P&L, is one of the most important financial statements to help you understand if changes need to be made in your business. It reflects if your business is making more money than its…

How Do You Build Business Credit?

How do you start building and establishing your business credit? Do you know why you weren’t approved for that business loan that you recently applied for? Business credit doesn’t work exactly the same a personal credit, so you’ll want to understand the key differences. Otherwise, you might not get the best terms or interest rates…

How to Create a Business Budget

Does the word “budget” make you cringe? Even if you hate to budget, to have a profitable business, it’s important to know your monthly operating expenses. Once you’ve calculated your average monthly expenses, you’ll want to make sure the business generates enough sales or has enough cash reserves in a business savings account to cover…

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Products + Services

How to Earn Money with Affiliate Marketing

When you started your small business, you probably focused on being great at your one product or service. As your business grew and you learned more about your target market, you probably added additional offerings. While having multiple products or services is good, having different types of income streams for your business is a great…

7 Tips for Getting Testimonials to Boost Business

How many prospects and clients have decided to reach out and work with you based on testimonials and online reviews? Testimonials are powerful ways to building credibility for your business and brand. The best time to ask for a testimonial and review is shortly after your client has experienced a success and big win after…

The Surprising Secret to Accelerate Your Small Business Success

Are you spending money on the right areas of your business that will make a difference in your bottom line? Many small business owners tend to spend money on the wrong things to grow and maintain their businesses. Or they don’t invest in the right products and services at the right time to create the…

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Tools + Resources

How to Get Contracts Signed Sooner

When you have a prospect who is excited to start working with you, what are your next steps to make it official? If you’re jumping straight to sending an invoice, I would recommend that you first send a contract. In the contract, you want to include what the customer is buying, terms and conditions, costs,…

How to Pay Less Credit Card Fees – FreshBooks ACH

Do you hate accepting credit card payments because you don’t want to pay the transaction fees? Have you tried to avoid transactions fees by only accepting cash or checks as methods of payment? If you answered ‘yes’ to either question, then you’ll want to check out FreshBooks’ latest feature, ACH Payments. When using this accounting…

Best Accounting Software for Small Business Owners

Most entrepreneurs are great are creating their products or delivering their services, but struggle with managing the finances for their small businesses. There is a lot of anxiety about dealing with numbers and confusion in using accounting systems, so many small business owners just don’t look at their finances. I find that many entrepreneurs are…

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Inspiration + Success

7 Tips Before Investing in Vendor Booths

Conferences and trade shows can be a great way to showcase your company’s products and services. I’m a huge advocate for attending small business conferences to build your network of colleagues and potential prospects. The costs to attend a conference should be viewed as an investment in your business, especially if your ideal target audience will…

15 Lessons Learned from CampFI

I’m a huge fan of attending small business conferences. The ability to disconnect from your day-to-day routine to learn and build relationships with colleagues and influencers is always worth the investment, and I recommend adding conferences as a line item in your continuing education budget. While my must-attend each year is a financial media conference…

9 Tips to Getting Invited to VIP Events

Have you ever been to a conference and wondered how some people get invited to special VIP events and dinners by brands and key influencers? I know how it can feel to be an outsider, especially as a new attendee to a conference. As a newbie, it can seem like everyone already knows each other,…

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