The SmallBizLady Buzz - Issue 88

How are you staying on top of your finances?

Profit is how we keep score in business, but all too often many business owners don’t check in on the money until tax time. Don’t let your fear of math be the reason why you are not on top of the finances in your business.?You need to sweat the financial details or have an accountant who does. For example, how many receivables are you expecting before the end of the year? What is the plan for that money? Do you need some equipment, a new vehicle, or to pay some vendors in advance to avoid paying too many taxes. After December 31, the only thing your accountant can do is tax preparation. You need some tax planning advice now, so make an appointment.

1. Develop Your 2022 Budget. What key investments are you going to make in your business in 2022??
2. Define your Priorities. Will you add staff, upgrade software, or add a new content strategy?
3. Apply for an EIDL Loan by Dec. 31, if you can qualify. You could apply for up to $2MM loan at 3.75% with a 30-year term and payments deferred for the first two years. We will never see money available to small businesses like this again, so apply.
4. Get clear about both your business goals and personal financial goals. How long do you plan to work? Are you saving enough for your retirement? What vehicles are you using to save for retirement? Are you building a business you can sell one day??Schedule an annual review meeting with your financial planner to refine your personal finances too.

The most important thing is to be intentional about how money moves in your business. Schedule monthly or quarterly reviews with your accountant to check the numbers. Track your progress and profitability on a regular basis. Look for ways to create recurring revenue. This will push you to improve your financial and sales processes.?

Check out our feature article this week, How to Create a Book Launch Team.

-----------------

How to Create a Book Launch Team

A book launch team is a group of people who plan to promote your book leading up to and on the day of its publication. They also keep the momentum going for at least a week or two afterward. Their efforts (in addition to your own!) can greatly increase the reach of your book promotion campaign and thus increase your sales. Continue reading....

-----------------

The easiest way to create professional live streams

StreamYard is a live streaming studio in your browser. You can interview guests, share your screen, and much more. Stream directly to Facebook, YouTube, LinkedIn, and other platforms. StreamYard makes it easy to broadcast your live show to all audiences on multiple platforms at once. You can sync comments, and brand every broadcast. They offer stellar backup servers make sure your livestream runs smoothly no matter what—because the show must go on. The basic account runs for $20 month.

-----------------

Podcast: Building a Collaborative Small Business Ecosystem with Pamela Slim

Check out this week’s Podcast: Building a Collaborative Small Business Ecosystem with Pamela Slim

Pamela Slim is a small business coach, author, and speaker who has helped thousands of new businesses launch.

In 2016, she started the K’é Main Street Learning Lab, a community-based think tank for local business acceleration. Pamela has written several business books, including the recently published, The Widest Net. In today’s episode, Pamela shares tips on clarifying your marketing message and identifying the customers you may not have realized are right in front of you. https://pamelaslim.com

-----------------

Melinda Emerson “SmallBizLady”: A beacon of hope for small businesses across America

I'm so excited to be highlighted in?CIO View Magazine?this week as one of The 20 Most Successful Business Women Making a Difference in 2021.

Read the full article here.

-----------------

We are looking for a few good men and women……. to write for us

We are looking for some great business experts to highlight on our platform. If you have a relevant small business topic, an original post, 1000-1200 words, and a mini bio and headshot that you want to submit, we would love to highlight your expertise. We allow one link in the author bio, but it must be from a site owned or operated by the post author. (No link farmers or Fortune 1000 corporations, please.)

Share your submission here.

-----------------

Subscribe and don't forget to leave a comment below!

Melinda F. Emerson, “SmallBizLady” is America’s #1 Small Business Expert. She?is an internationally renowned keynote speaker on small business development, marketing and social selling. Melinda is also the president of the Quintessence Group, an award-winning marketing consulting firm based in Philadelphia, PA, serving Fortune 500 brands who target small business market. LinkedIn named her a Top Voice for 2019 in Small Business and Entrepreneurship.?In addition to being a former NY Times columnist, she is frequently quoted by media organizations including The Wall Street Journal, Fortune, MSNBC, CNBC and Fox News. She is the host of #Smallbizchat LIVE and The SmallBizChat Podcast. A prolific writer, Melinda has published more than 5000 articles on her blog?www.succeedasyourownboss.com. Her small business advice is widely read reaching more than 3 million entrepreneurs each week online. She is the bestselling author of?Become Your Own Boss in 12 Months,?2nd Edition.?Her latest book is?Fix Your Business, a 90 Day Plan to Get Back Your Life and Reduce Chaos in Your Business.