Warning Signs that It’s Time to Look Into Your Money System

If you feel like your business is really starting to hit its stride financially but you still seem to not have any money in your bank account, this article is for you.

No matter how successful your business is, if you don’t have a way to proactively assign jobs to your money as it comes in, you will have a really hard time accumulating cash in your accounts. Instead of worrying about how successful your next launch will be, or if your next client will be paying in full or with that dreaded payment plan, imagine what it would be like to go into strategy calls with zero expectation. Imagine knowing that you have enough cash to cover your business expenses for the next 3-6 months. Imagine paying yourself a profit distribution every quarter and taking yourself to the spa (without putting it on your nearly maxed credit card). Imagine being debt free.

I’m here to tell you that this is all possible. And I am also going to warn you that my clients often share with me that they wish they had implemented Profit First paired with YNAB sooner.

Here are some warning signs that you are headed towards maxed out credit and dwindling business account balances, all while making consistent 4-5 figure months.

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Migrating from YNAB 4 to the new YNAB

By Amber Dugger Leave a Comment

I wanted to wait until 2016 came to a close before migrating from my beloved desktop version of YNAB. I am doing a clean and fresh start to 2017 and completely moving over to the new YNAB for both my personal and business budget. I thought it might be helpful for me to document my switch and the process that I will go through to complete this to help any of you resisting the plunge.

Step 1: Reconcile all accounts through 12/31/16 on YNAB 4. (My business is on a cash basis so that means anything that was paid in 2017, regardless of invoice or services rendered date will not need to go into my 2016 reconciliation). [Read more…]

Up-Level your Online Biz Finances in 5 Easy Steps

By Amber Dugger Leave a Comment

Is your money system “working” but you know that in order to take the next step in your business, you know you need to up-level? If you are ready to streamline your finances, this training is for you. By the end of this training, you will be crystal clear on setting yourself up to run a truly profitable, sustainable and financially healthy business.

Want to get right to the meat of the training? Skip ahead to minute 5:20 to get my top 5 steps. 🙂

Looking for my sales target calculator? Click here.

Click here to read my post on how to create sales targets that are going to cover your personal and business goals and centered around making profits.

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I will be releasing a second training next week going into more detail on [Read more…]

Why the $5K Month is Crap

By Amber Dugger 2 Comments

There is no proof that the $5K month is a landmark number. There. I said it. As online business owners, we know all too well the ads promising $5K months or $10K months. And to the casual observer, it makes complete sense. We all are here for 2 main reasons: Make Money and Make an Impact.

Let me ask you this: When was the last time you sat down and asked yourself why you want to hit a “consistent $5K month or $10K month”? Do you know if the number you choose covers your personal expenses? Your taxes? Your business expenses and more importantly, your big impact goals?

If you are struggling to answer those questions, my darling, you are in the right place. It is extremely rare to meet an online business owner that has sat down and calculated an accurate buildup of her income targets. And I will be the first to assure you, its not your fault if you haven’t. It is not something that we see promoted as a key part of running your online business.

We are inundated with methods to create the perfect sales funnel, email marketing tactics, the latest membership software and how to run the perfect Facebook ad. But what about something as simple as making sure that our monthly income target is going to give us the right amount of money to accomplish what we set out to accomplish? I.E. enough money to sustain ourselves, those we love, enjoy a freedom-based lifestyle and give back to those we love most? [Read more…]

5 Tips for Solopreneurs on Investing in Yourself without the Guilt

By Amber Dugger Leave a Comment

Are you a chronic saver? Do you pride yourself in the savings that you have amassed but have trouble spending it or investing in yourself?

You hear mostly about money advice for those opposite to your situation. The ones who are looking to save or cull in their spending. But you have been such a good saver that you can’t determine when it is best to actually spending it or take a financial leap.

This post is for you, my friend.

As an ESFJ (from Myer’s Briggs), I am a personality type that is one of the least likely of all types to go into business for myself. I can completely relate to wanting financial security and confidence that things will be ok even when faced with disaster.

It took a rather traumatic accident for me to stop for a moment and realize that no matter how much planning, saving, analyzing and running through different hypothetical scenarios, you can’t prepare for the inevitable. [Read more…]

If you feel like your business is really starting to hit its stride financially but you still seem to not have any money in your bank account, this article is for you.

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