Getting Financially Fit

Our business and personal lives are so closely connect that, sometimes, we find ourselves neglecting one while we focus on the other. One area in which we cannot afford to be doing this is our finances. Staying on top of our finances in our personal lives can have a really positive impact on our business lives. Earlier this month, Ryan Porter shared five tips to help you get financially fit this year:

  1. Have Goals

What is it that you’re working towards? A new car, a trip overseas or even starting a business could be on the cards for you. You can have as many goals as you desire and they can be as big or small as you like but you must have goals.

Having a target that you’re aiming for means that you can track your progress easier and, when things get tough, you can visualise what you’re putting in the hard work for! Get specific about your goals by writing down an exact dollar amount, a time frame and a few immediate steps you can take to get started! Make it as easy and clear for yourself as possible.

  1. Know Your Numbers

When it comes to budgeting, you need to know what you’re starting from so you can be realistic in moving toward your goals. Do you know what’s coming in and out of your account every month? What happens with the money that’s left over after your everyday expenses? Finding answers to these questions and setting up solutions and a purpose for every single dollar will set you on the right track.

  1. Automate Things

Many of us still shuffle our money around ourselves but with online banking, automating your money is a huge possibility and a great tool for saving. It’s tempting to look at our money as it grows, but by setting up payments for bills, savings etc, there is no need for us to keep looking and be tempted to spend that money all in one go.  Create a new bank account specifically for one of your new goals and set up automatic transfers into the account for every time you get paid.

  1. Monitor and Review

Find a way to track your goals throughout the year – perhaps what you’re doing isn’t working for you and you need to adjust; maybe you’re going really well and can increase your saving!

Find someone to keep you accountable; whether it’s an advisor, partner, friend, family member or even an app, having someone to check in on you throughout the year and give you the motivation when you’re not keeping on track.

  1. Start

The first step is always the hardest – but once you’ve taken it, the other steps will follow naturally. As soon as you’ve set your goals, take immediate action towards that goal, never procrastinate and start the way you intend to continue.

If you’re on top of your finances in your personal life, it can only benefit you in your business life. Start setting your financial goals now and get started – don’t let another year go by without being in control of your money.

 

How To Make 2017 Your Best Year In Business

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The New Year is well and truly underway now and those resolutions we made on the brink of 2017 are still fresh in our minds. Whether we’re feeling the sting after failing three days in or we’re still going strong, there’s no doubt that a new year is a time to be thinking about how we can be better versions of ourselves in the coming year. It doesn’t just apply to our personal lives – have you considered making resolutions to better your business this year? It’s not too late! Here are three easy steps to make your business the best that it can be.

Get a Vision

What does the best year in business look like to you? This is a time to let your imagination run wild. What do you dream for your business, where would you like to be at the end of the year, what do you wish you could do with unlimited resources? Dream big! No two visions are the same, but by thinking radically about your business, you’re pin-pointing all the possibilities and laying them on the table.

Daring to imagine all those possibilities might seem a little wishy-washy to you, but gather all those possibilities and shape them into a sentence or two that sum up your hopes for your business this year. Now, you have a clear statement of where you want to go, you can lead your business forward.

Set Goals

Those few sentences that hold your business vision might seem a little daunting but there’s no reason to feel overwhelmed!

Your vision is very closely linked to your goals but your goals are allowed to be a little more specific – in fact, it often helps when your goals are as small as they can be. Your vision is never going to be fulfilled overnight; it’s those small, specific goals that will keep your business moving towards the vision throughout the year.

Take apart your vision until you get it down to bit-sized pieces that can be ticked off during the year. Think about what you can be doing every day, week, month, quarter and year to be moving closer to your vision. The best way to make sure you’re doing this is by setting aside time to plan, create, manage and adjust these goals during the year.

Take apart your vision until you get it down into bite-sized pieces that can be ticked off throughout the year. What can you be doing every day, week, month, quarter and year to be moving closer to that goal? The best way to make sure you’re doing this is by setting aside time to plan, make, manage and adjust these goals throughout the year. Here’s a handy guide for you – make it your own and start smashing through your goals:

Seize Every Opportunity

You might have dreamed up the best year possible for your business, but what will you do when little unexpected things pop up throughout the year? We can plan all we like but unfortunately; we can never plan for the unexpected.

Whether it’s a setback or a wonderful opportunity, you need to be ready for anything. Be ready to see the best in a bad situation and use it to your advantage. When it comes to amazing opportunities, you might be in the right place at the right time, but if you haven’t prepared yourself, you could find yourself watching the opportunity sail right past you.

Success is when preparation and opportunity collide – don’t miss out on success for lack of preparation.
With these three easy steps, you’re on track for the best year in business you’ve ever had. Here’s to a new year of business!

In business, it’s important to start the year strong. Through our Business for Life program, we help business owners from across Australia build a toolbox of skills that they can use to grow their success. We’d love to chat about how we could help you. Call Bx on 1300 068 229 or find out about our Business for Life Program here.