Lies We're Being Told About Money With My Bookkeeper, LoriAnn Kuntz
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Links mentioned in today's show
Why Manifestion Misses the Mark by The Heart & Hustle Podcast
My guest today is my very own bookkeeper, LoriAnn Kuntz, who is a virtual bookkeeper and CFO for the modern female business owner. We break down some of the lies we are being told about money as it relates to entrepreneurship and building a successful business. From manifestation to 20k months, LoriAnn and I hope to encourage a weary group of women, struggling to keep up with the Jones'.
The Difference Between a Bookkeeper and CPA
Often people mistake a Bookkeeper and CPA as one and the same. What is the difference?
LoriAnn uses the analogy of a nurse and a doctor. A bookkeeper (like a nurse) performs all of the prep work and continually monitors the vitals of a business, whereas a CPA (like a doctor) comes in at the end of the year and helps with planning and filing your taxes. Ultimately, it is best to have both a bookkeeper and a CPA working towards for a common goal.
Manifestation and Why it Misses the Mark
In this episode of The BrandWell Podcast, we talk about manifestation and how it often misses the mark when planning for a successful future in business. The way our society and social media encourage manifestation, it places ourselves on the throne and leaves little room for our Creator who has the ultimate rule and reign over our lives.
Beyond that, when growing a business, there have to be procedures and systems in place in order to bring in more revenue. Success doesn’t go off of “if you think it or speak it over yourself, you will be successful”. While having a positive mindset is important, success is derived from hard work, planning, strategizing, knowing your numbers, and ultimately, the Lord’s will in your life.
In today’s boss-babe online culture, we’re told that we will be empowered by manifesting success when the reality is, actually knowing our numbers and the truth about our business will bring success, growth and empowerment.
More Money Does Not Equal Contentment
It is so easy to say, “If I just reach 6-figures I’ll be satisfied,” or “If I just land this client, success will come”.
Here’s the reality, friend. There will always be another, more lofty goal to set out for.
Ultimately, contentment will never come from the amount of money that we make in a month. LoriAnn shares a quote that she heard once, “Money is like a brick… you can throw it through a glass window and be destructive with it or you can build a house with it”.
Money is neither good nor bad but we have to make sure that we have the proper mindset on it otherwise it can become destructive.
It is important to be content where we are at and then work towards goals for the future. When setting a plan to grow your company, it cannot be all in a sales quota, but something deeper. As business owners, we want our business to grow and be successful but the contentment cannot be found in money.
Be Careful What You Compare To
With social media giving us inside access to what people are making (or at least what they say they’re making) it’s easy to play the comparison game. However, often times people aren’t fully transparent with you about what it took to get there or what their bottom line actually is after expenses and taxes.
Be careful what information you’re consuming online and don’t let someone else’s success discourage you on your own journey!
Three Ways to Save Money
LoriAnn shares 3 easy ways that we can save money as business owners.
Look over your subscriptions. It is easy to sign up for a subscription with a click of the button and then forget about it. Setting a reminder for yourself throughout the year to check what subscription you have and if you are putting them to use could stop you from spending money on items not needed.
Pay off credit cards. Taking a look to see if you have the money to pay off your credit cards or make extra payments will minimize the money spent on interest and fees.
Create a budget “projection”. I know the word “budget” is not always appealing to us, but putting in a strategy or projection if you will, will help you see where you are over spending and under spending.
More From LoriAnn
To learn more about LoriAnn, you can connect with her on Instagram @loriannkuntz.co or online loriannkuntz.com.
Be sure to listen to today’s full episode on The BrandWell Podcast to learn more about LoriAnn and the lies we are being told about money.
KEEP BRANDING WELL,
Victoria
