Running your own business is no small feat. 

At any one time you can be trying to balance staff obligations, sending out invoices, family time, mental health, finances and always knowing what the next steps are. 

This can be really challenging. Nobody tells you that running a business is much harder than it looks.

The first thing we want to say is congratulations. 

We want to acknowledge everything you’re doing and achieving. 

At Your Accounting Sanctuary, we are focused on empowering passionate people to build businesses, stress free.

Following perhaps the most ‘financial focused’ month of the year in July, as we enter September we want to encourage you to ‘spring clean’ your finances. 

Every business owner has the opportunity in this new financial year to put helpful routines and practices in place to make it your best financial year yet.

Here are our 5 industry expert pieces of advice to organise your finances like never before: 

1. Review your business plan

Remember those plans you wrote down on a piece of paper when you first had your big business idea?

Yes, those ones you might have forgotten about or pushed to the side.

Writing or rewriting your business plan is a wonderful way to consolidate and confirm the goals you want to meet and the direction you want your company to go in. 

Once you have your business plan for the new financial year, you are able to work backwards from the big shiny vision into actionable steps.

Create your own map for success. You’re the master of your business destiny after all.

2. Review your pricing

Did someone say CHA-CHING? 

When was the last time you reviewed your pricing? Do you think you are charging enough? Do you have enough money coming in to grow your business and hire more people?

Different market climates may have impacted your pricing recently, specifically when it comes to Covid. 

Taking the time to review your pricing strategies and methods can be hugely beneficial in highlighting areas that need to change. 

Ultimately, you’re in the business of adding value and as such, you need to charge accordingly.

3. Tidy up your website

Your online presence is one of the most critical visual windows into your business. 

Is it easier for your customer to find your website and pay you for your services?

Does that payment connect to your accounting system (like Xero) to track your success?

Reducing the barriers for your ideal customer to connect with you is the easiest way to increase sales. Our tip here is to keep your language and customer journey simple.

Your customer has a problem and you have the solution. Make sure you’re sharing it!

4. Catch up with your accountant

Many business owners reach a point where their time and energy is wasted on financial stress.

This isn’t your zone of genius and in turn, financial tasks are not that fun for you to complete.

If you’re finding these tasks difficult, or simply don’t want to do them… we recommend you book a consultation with your accountant.

Not only will it absolve you of the tasks, but professionals in this space will be able to provide more accurate information, advice on maximising profitability when it comes to tax, managing bank accounts and providing direction for you and your business.

Rely on the experts in the same way that your clients rely on you to be the expert.

5. Treat Yourself

Your work space is your productive space. 

It’s important to find the perfect balance between professionalism, and fun. 

Make yourself smile and order something for your desk online.

Perhaps some new pens, a cool book, an amazing artwork… anything that makes you smile.

We spend the majority of our lives working. Create your own work sanctuary with the things that make you feel motivated.

If you enjoyed this article 5 Ways To Spring Clean Your Finances, share it with another business owner who could benefit.

You can access more of our free financial resources here.

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About Your Accounting Sanctuary

YAS is a boutique accountancy firm in Sydney that empowers passionate people to build businesses, stress free.

Forget everything you know about old school accountants and make way for a new era of approachable, fun and strategic advisors who prioritise your business dreams.

The YAS experience means that your financial stress doesn’t keep you up at night and instead, you feel relieved and relaxed that your numbers are being nurtured by the professionals.

If you are a business owner with a terrific team and hopes for business growth, book a free discovery call with the YAS team today.