It’s your money and it is vital that you manage it well
“Money is the life line of your business and when it is gone, you could be out of business.” Furthermore, it takes money to start a business and it takes money to maintain the business. Moreover, that is why I want to inspire you to Master Your Accounting Skills.
Do you plan to have an Accountant or do you manage your own money? Many business owners choose to have an accountant because they are not good at managing money, however, if you want to save your self some money; you must become a mastermind at Accounting.
My thoughts on having an Accountant: I have decided that an Accountant is necessary in the event you meed an outside audit or if you have multiple locations. Also, if you plan to have multiple locations, it is vital that you have an accountant to monitor your book keeping practices.
To find out how to master your accounting skills or for more Business Management tips, be sure to subscribe to my 21-day (Going to Another Level) Mastermind Mind eCourse. Click here
On September 28, 2011, I received eight boxes of shelving for my center! I was so excited to receive the new shelving and throw out the old shelving. The shelving came with a $1400 bill and I was given 30 days to pay off the balance.
The day that I received the shelving, the parents were in the process of raising funds to pay for the shelving. However, the money that the parents raised was not enough to pay the entire bill and I was forced to pay cash for the shelving with a monthly payment plan.
I must say that as of the date that I write this blog post, the invoice that I received for the shelving is now PAID IN FULL!!!
When I wrote the final check to pay off the invoice, I was reminded that when you create a goal and a budget for what you want for your business; you can have anything that you desire without the burden of loans!
Do you desire to purchase new equipment for your childcare business? If so, step out, create a payment plan for what you want and you will be amazed at what your business can afford when you spend your business funds on purpose!!
I look forward to reading your thoughts about this post. Talk to you soon!