Some people may wonder what exactly we mean by “financial freedom”, and how do you get there. Simply put, financial freedom, is a long-term financial goal, it allows you to make major life decisions without worrying about money. You would no longer have to make cutbacks, worry or struggle when it comes to your finances. Now doesn’t all of that sound amazing? Well in order to get to the land of financial freedom you’ll need to follow your financial success roadmap. I’m not going to lie to you, to get there isn’t going to be all peaches and cream, that’s for sure. You will have to make sacrifices and be committed to this process. To be successful in this you will need to be confident in your decisions and stay positive. There will be points where you’ll want to be anything but positive. To make this route a little easier on you, I suggest getting the support of your employees and family members, so everyone is on the same page. This way they can also offer words of encouragement and you’ll have them to share your successes with.

                Before we actually get to how exactly you get to the land of financial freedom, let’s go over a couple crucial details that’ll help you better understand why this process works as well as it does. When someone mentions the word “budget” it typically comes with a negative connotation. So that is why we are going to refer to it as a “financial success roadmap”; much more inviting. When it comes to a business a budget is an essential key to their success; and here is why. Without a financial success roadmap it creates chaos within your business, an inconsistent financial performance, things are left to chance, and finally it allows thing to happen “to” you and not “for” you. But when you have a budget in place it will predict your business’ expected revenues, expenses, and cash-flow for the next 12 months. You will be able to see what months are more profitable than others and where you need to spend a little less. We will get this information based on your company’s historical performance for the past few years and create a personal financial success roadmap. Our role as your great bookkeeper will be to help you create a functioning budget, implement it, and monitor it throughout each month. Along with keeping you motivated and focused on your goals and aspirations. At the end of every month along with your financial statements, you will get a budget vs. actual performance comparison. With this document you will be able to see how well you stuck to your budget that month and if you need to reduce your expenses the following month. Another way to get a more accurate roadmap is to do what is known as benchmarking. Benchmarking is the secret ingredient to financial success; its whole purpose is to improve your financial performance. It compares your business’ financial performance to your peer group; this better helps you to identify which expense/costs are out of whack so you can then recognize the problem and come up with a solution. With that information you’ll be able to compare it to your budget and see what expense/costs need work. The results of benchmarking and budgeting together are more profit and more cash-flow, and who could argue with that. Something we have found with our other clients is that they have enjoyed creating a game out of it. Making it a competition, setting goals, and pushing themselves to beat their peers.

                Now you may be thinking that sounds like a lot of work and wondering how would I even go about accomplishing all of this. Well the first step is going to be a conversation with yourself. You need to have an honest discussion with yourself and decide this is something you not only want to do, but you need to do. This will not only benefit you, but your business, your employees, your family. Once you’ve you made the decision that this is what you want and are ready to fully commit to it, you’ll want to contact us, your wonderful bookkeeper and trusted advisor. We will take care of all the heavy lifting and number crunching for you; you know all the fun stuff. After all is said and done and you’ve now made the commitment; you’re bookkeeper will look at your historical performance for the last 3 years. They’ll offer suggestions and consult with you on where you see your business going the following year. Now I know change is hard for most people especially when it comes to their business, that’s your baby. But this is completely necessary and vital to your business’ financial success and getting you where you want to be. With that being said, you do get the final say and we are always open to suggestions. Let’s be honest, no one really cares too much for a budget, and most are hard to stick to, but it is crucial that you try your hardest. Keep those goals in mind, and all the great things you are striving for once you’ve finally hit your destination of financial freedom. If you just trust the process; you will start to see results, maybe even faster than you think.

                After all your hard work and all the sacrifices you have made, you have finally arrived! You’re here; you’ve made the long journey, and now can finally reap the benefits of financial freedom. I bet you wake up absolutely elated every morning knowing you don’t ever have to worry if you’ll have enough money each month. With your business more lucrative than ever, you are now stress free and have peace of mind knowing your business, employees, and family, will never have to struggle again. You should be so proud of your accomplishment, and so should everyone else around you that has supported you. I bet you can’t help but think about how happy you are you finally made the decision to pursue financial freedom, and your only regret is not doing to sooner. Am I right? I know you all didn’t know I was a fortune teller/mind reader did you? All kidding aside, making the commitment to change your financial behaviors is more than worth it. To get any additional information, please contact us today and we would be happy to answer any questions or concerns you may have.

ccerbone@protectedbookkeeping.com

(480) 719-0325