January Monthly Recap

It is 2020 and most of the “newness” of Happy New Year wishing is starting to fade. I will say once again Happy New Year to you!

I think it is still okay to say that one month into the new year. :)

This month we focused squarely on different pain points within the startup entrepreneurial journey like 5 tips to building a solid business foundation and how to deal with the taxman. If you have a chance to take a look at these posts I believe it will provide valuable information to help you toward success on your entrepreneurial journey.

The decision to become a business owner and go through the ups and downs as you pursue your goal is not for the faint of heart. It does come with many rewards and for most of us that make this decision, the entrepreneurial path chose us and not the other way around. As we wrap up the month of January I wanted to share a great article that I read on Forbes.com about “How To Launch A Profitable Startup in 2020.” It provides an easy to follow roadmap that will help you as you pursue your entrepreneurial dreams.

Keep It Sunny!

The StartUp Journey - How To Deal With The Tax Man

You are living the dream. You wake up when you want to and you call your own shots. The passion that you have always held to run your own business is coming to fruition before your very own eyes. What could go wrong?

You didn’t take taxes out and now you owe the tax man big time.

This is not supposed to be ruining your entrepreneurial dream. What can you do now to avoid this sad scenario that plagues many new startup business owners? Get informed and get your ducks in a row.

Get Informed

So now that you have made this pile of cash how much of it do you really need to set aside for the tax man? According to Bench.com, you should save a minimum of 30% off the top to save for taxes. “Land somewhere between the 30-40% mark and you should have enough saved to cover your small business taxes each quarter.”

Get Your Ducks In A Row

Take some time to find a qualified professional who can walk with you on this tax journey. They can also help you plan for the future so that you can avoid paying too much in taxes. Check out an Endorsed Local Provider from the Dave Ramsey network.

The startup journey is very exciting but it is no fun when you owe the tax man so get busy planning for your taxes. I wish you the best on your new journey.

Keep IT Sunny!

The Start Up Journey - 5 Tips To Building A Solid Business Foundation

Starting a new business from your own ideas is exhilarating! Just like the rocket ship above you can feel like your blasting into a new journey filled with excitement and freedom. As fun as the journey can be it’s important to make sure that you are building your future business on solid ground. According to the SBA, “there are over 28 million small businesses in the United States and only about 50% of them survive."

That is sobering news!

But the good news is that it is avoidable if you build your business on a solid foundation. Here are 5 tips to help you do that:

Tip 1 - Create a plan for your business

We all know the famous saying failing to plan is planning to fail. It’s important to create short-term and long -term goals for your business. Check out these business planning tools to help you get a jump start on this important task.

Tip 2 - Obtain capital to run your business

The first few years of running a business can be pretty meager and if you don’t have the startup capital to help you survive those lean times then things will start to tank fast. In my opinion, the best way to cash flow your business is with good ole fashion cash that comes from you saving BEFORE, DURING & AFTER your business has legs. I am a fan of Dave Ramsey and his debt-free school of thought. If you can put your mind to cash flowing your expenses for your business and stay away from debt you will be a much happier camper. Yes, it is challenging but in the words of Dave “Live like no one else so later you can live and give like no one else.” Check out these creative ways to bootstrap your business and the Entreleadership website on tips for running a successful business.

Tip 3 - Don’t Scale Too Fast

There are many horror stories of startups that were hot and on their way up and then quickly crashed. You don’t want to add your name to that list. Check out this article for helpful tips.

Tip 4 - Put a system in place to manage your accounting

The key to financial health for your business is the ability to know your numbers at all times. If you use professional software like Quickbooks Online or another cloud-based system then you will always have those numbers at your fingertips. Additionally, it’s important to get the experience of an accounting professional to help you get everything set up and either manage it for you or train you how to do it for yourself.

Tip 5 - Work with a business coach

First let’s start with defining what exactly is a business coach. According to Brian Tracy who is recognized “as the top sales training and personal success authority in the world today business coaches are typically experienced entrepreneurs and business owners themselves who decide to use their talents for building and growing a business to help other business owners reach their goals.” Now that we know what a business coach is here is why you should work with one:

“Statistics on business coaching have proved that using a business coach can increase your profit margin by an average of 46 percent, according to a practice development company. However, further statistics reveals that 42 percent of businesses of don't use a business coach.” source streetdirectory.com

So there you have it. 5 tips to help you get off to the right start on your startup journey!

Best of luck and Keep IT Sunny!

HAPPY NEW YEAR & WELCOME TO 2020!

The New Year is here and along with it comes a barrage of marketing emails & commercials urging you to make and keep your new years resolution. It also comes with reminders of how long those resolutions usually last.

All of it can feel overwhelming.

Much in the same way when you are an entrepreneur there are plenty of resources to look at that will tell you how to start a business and just as easy there are resources that will tell you how long it usually takes people to fail.

It can be discouraging.

My goal with this blog is to take a look at how you can be more informed to run your business and create more peace in it. As we begin this new year this month I want to focus on the journey of an entrepreneur who is in the start-up phase of their business. My goal is to share information that will help to build a solid foundation. If you are way past this journey no worries because there are still things to glean and take away that will be reminders to help you along your entrepreneurial journey too!

Happy New Decade & Keep it Sunny!

Merry Christmas To You!

The crown jewel of the holiday season is here!

I love the Christmas season and all the festive activities that it brings. As a person of faith, this season means more to me than gifts and hectic shopping at the mall. The reason for the season to me is to celebrate the birth of Jesus Christ and all the other activities are the cherries on the top. No matter what your personal reason for the season is I hope you take time to enjoy it with family and friends. My wish for you is that you experience all the laughter, light & love your heart can handle!

Merry Christmas & Keep IT Sunny!

Winding Down 2019 For Your Business

I can’t believe the end of the year is upon us.

I hope you are taking time to reevaluate your business goals to make sure you are on the right track. If you are thinking about building a team of professionals to help you reach your goals start with your tax professional. As we wind down 2019 and move into 2020 things can become hectic and the reality of the tax man coming to knock at your door may seem far away. The truth is that next month kicks off all the tax season frenzy and you need to be ready and that starts with making sure your books are ready for your tax professional.

If you don’t already have someone in mind then take a look at Dave Ramsey’s Endorsed Local Providers to see if there is someone near you who can walk with you through this very busy financial tax season.

Keep It Sunny!

Tis The Season To Start A Side Hustle!

WGN Morning News. We're not drunk, we swear. Weekdays 4-10a.

The life of an entrepreneur is not for the faint of heart!

As a fellow entrepreneur in startup mode, I can understand the wild rollercoaster ride that comes along as you are trying to build your business. Things can get dicey fast and the holiday season brings no relief as you juggle all your obligations along with playing Santa to your family and friends.

So what is the answer?

It’s time for a side hustle gig.

There are so many opportunities that are available and Jeremy Harrison at hustlelife.net wrote a great article that offers some great ideas to help you to start bringing in extra income. The life of an entrepreneur is fun, exciting and exhilarating. It can also be stressful as it relates to income. There are many opportunities to create extra cash that will alleviate the pressure and have you dancing like the people above well into the new year.

Do you have some fun side hustle ideas? Share in the comments below!

&

Keep IT Sunny!

How To Ease Your Tax Woes

Now that Turkey day is behind us and the madness of Black Friday is over it is time to turn our attention back to our business and more specifically how to best prepare for the taxman. The first thing to do is just breathe like the picture suggests and create a game plan that will allow you to win and breeze through this as stress free as possible. Check out the previous post that I wrote on how to do this and I hope your tax prep season is truly stress-free.

Keep IT Sunny!

HAPPY THANKSGIVING!

Today is one of my favorite holidays to celebrate. In the hustle and bustle of day to day living, we can forget to be thankful for what we already have. As you go out to shop in the black Friday madness and gather around the table with your family take a moment to remember the reason for the season. It is truly to be grateful that you are still alive filled with your gifts and talents to share with the world and surrounded by love. In all the madness it is good to take time to remember that.

Happy Thanksgiving and Keep It Sunny!

The Calm Before The Turkey Madness!

Can you feel it in the air? The Black Friday ads flooding your inbox and flashing across your television screen. As you drive down your neighborhood there might be pumpkins and Christmas lights up at the same time:)

It

Is

HERE!!

The holiday season is upon us and it is a great time to enjoy stuffing ourselves with so much food we couldn’t think of ever wanting to eat anything again. It is also a great time to STOP right now and just breathe and relax.

Take some time to give yourself a pat on the back for being brave enough to go after your entrepreneurial dreams. It can get hectic and crazy but it is always worth it to share your gift.

Yes, the holiday madness is here but you don’t have to go crazy in this season. Take time for yourself to do absolutely nothing and enjoy it.

Keep IT Sunny!

Are You Ready For The Tax Man?

It is that time of year to start looking at your books to make sure they are in order. The taxman will come knocking in a few short months along with contractors looking for their 1099’s.

Are you ready to meet these demands? Do you have a tax professional in place already to help you navigate these choppy waters?

If not then it is time to get in gear. Check out this post I previously wrote about finding an endorsed local provider that can help you get with minimizing your tax bill and alleviate your stress during this time of the year. I also wrote a post about how to minimize your tax bill that I will be using for my own business.

Keep It Sunny!

Welcome To The Month Of November!

I love November. It is filled with delicious eats, festive holiday celebrations and beautiful changes in nature.

It’s a great time to start planning for the upcoming year for your business. Dan Miller from 48 days thinks so too and has a great tool you can use to jot down your thoughts and start getting your ducks in a row.

This month we will take a look at ways you can increase revenue in your business, effective networking tools and getting ready for the tax man.

I hope the year has gone well for you and you are excited to hit the ground running for 2020. In the meantime take a step back to smell the pumpkin spice coffee and revel in the presence of the sweet sounds of the holiday season. Welcome to November!

Keep It Sunny!!

Hey You Desk Potato! Yeah That Means YOU!

I don’t know about you but working from home as a business owner sometimes leaves me feeling like the picture above. I get into a good groove working on a specific project and when I look up an hour has easily passed me by without me getting up for a good stretch break. I have an exercise schedule that I usually follow but lately, I have been so enmeshed in projects that I have been skipping some of my activities. That is one of the reasons I started my own health & wellness Meetup for women (sorry guys:) so that I would be forced to get out in the world and be active.

As the increase of remote working moves forward, it does bring with it some health concerns to be aware of. According to an article on Time.com, “Income instability and poor access to affordable health care have both been linked to reduced physical and mental health. There’s also evidence that people tend to“overcommitment” to work and find it difficult to disconnect or relax, which they say negatively affects their mental health.” There are ways to stay healthy and achieve success as a remote entrepreneur. Check out these tips from Entrepreneur.com. I hope they help you to get moving throughout your day and stay fit.

Keep It Sunny!

Are You Still Out of GAS?

Recently, I joined about 1,000 women as a participant in the Mudgirl Run here in Las Vegas.

I started off great with a ton of energy as I ran with the group toward our first obstacle course. As we progressed through the 3K course I noticed that after each activity my energy started to wane a bit. When I hit the final obstacle course I started climbing through the roped holes and realized that I was just out of gas and had to come back down. That is how we are sometimes as we navigate through our entrepreneurial journey. We start off excited and full of enthusiasm and then as we face challenges in our business and we start to lose energy.

This is something that every business owner goes through and most often it serves as a pinnacle turning point in their business journey.

It is at this crossroad that they decide if they will choose to move forward despite the challenges they are facing and run across the finish line or if they will end their entrepreneurial journey.

No one becomes a success in a silo. It takes a team to help you win.

In the business world, this could take on the form of a business coach, mastermind group or a networking group. We all need someone to stretch out their hand to us and give us a tug to make it through the inevitable challenges that arise as a business owner. As I climbed down the ropes on the last obstacle course and instead walked around to the other side, my friend was there waiting for me with a smile and a pat on the back. She grabbed my hand and we hoisted our arms in the air and ran across the finish line with pride.

I finished the race and you can too.

Keep It Sunny!

Welcome To The Month Of October!

Autumn is here along with all the fun activities and delicious food that comes with this time of year.

As we continue to wind down for the year we will look at how we can tie up loose ends for year-end and get ready for the year ahead. If you didn’t have a chance to check out my post from last week about tax planning for the end of the year take a look here.

There are only a few months left to hit those targeted business goals and get your books in shape for the new year. I want you to end this year on a relaxing positive note.

Keep It Sunny!

End Of The Year Tax Planning

It is that time of the year when it is a good time to start to take a look at your books to make sure everything is in place for your tax professional. Are your books up to date? Do you have a trusted tax professional in place already? If not check out a previous post I wrote about those two subjects and put some solutions in place right now so that you are not stressed out come tax time.

Keep IT Sunny!

Are You Frazzled & Stressed Out?

If you are feeling tired, stressed, frazzled and have dreams of relaxing on the beach then it is time to stop and just BREATHE!

I wrote a blog post a few months ago about how you can create more peace in your business in 3 simple ways. Take some time this weekend and see if my tips can help you get back on track.

:)

Keep IT Sunny!

Are You Making Any Money In Your Business?

“Money, get away
Get a good job with good pay and you're okay
Money, it's a gas
Grab that cash with both hands and make a stash
New car, caviar, four star daydream
Think I'll buy me a football team” Roger Waters - Pink Floyd

Money is a popular subject in songs, conversation and in business. If you are not making any of it then you are the worlds’s best hobbyist. If you are not making enough money then you will soon be looking for a “good job with good pay” as reference in the Pink Floyd song above.

Do you know if you are making any money? If your response is yes I looked at my checking account then you are not on the right track. The only way to know if you made a profit in your business is to look at your financial statements specifically the income statement. If your books are not up to date then you are flying blind. The end of the year is approaching and more importantly estimated taxes are approaching even faster in a few days. If your books are not up to date how will you know how much or how little taxes to pay the IRS. Yes, money is a popular subject for many reasons and for good reason.

The over arching goal as an entrepreneur is to make a profit so that you can continue to share your gifts with the world.

Are you making any money in your business? If you are not sure then it is time to stop and figure it out.

Keep It Sunny!

Welcome To The Month of September!

Welcome to the month of September!

I love this month it starts the beginning of fall and says goodbye to the summer. It also starts the final countdown towards the end of the year. This month we will take a look at how we can get our businesses ready for that final countdown in the areas of bookkeeping, marketing and networking.

Keep IT Sunny!

August Bright Spot Round Up!

August is going, going, GONE!

I hope you had a productive month and in the meantime had a little bit of fun!

During the month I had a chance to get out and play with the ladies from the new Health & Wellness Meetup I created for women. We took time to discover a different side of living in the Las Vegas Valley. Most people only are familiar with the Strip Corridor but there are a lot of hidden treasures here that are not related to gaming. I know “GASP” :)

I also had an opportunity to discover new ways to share my services with potential clients and how I can add value to their business by listening to some really great podcasts.

My favorite podcaster, John Lee Dumas from Entrepreneurs On Fire had some really great guests who specialize in using Facebook to connect to your audience; Manuel Suarez & Lucas Lee-Tyson. If you have a chance it is really worth checking out and as always I have a few blog posts that I wrote for you this month to help you with different business challenges. Cheers to August and I hope it was a good month for you.

Keep IT Sunny!