Episode 010 – Getting Paid: Ways To Transfer Money

Episode 010 – Getting Paid: Ways To Transfer Money

Listen On: iTunes | Google PlaySpotify Stitcher

About This Episode

For the record, not everyone is a scammer.  There are way more legitimate businesses out there than those that are out here scamming people.  So imagine how shocked I was when that was the overall sentiment in a recent group discussion.

I get it, sometimes we don’t know what we don’t know.  In this case, the original poster had expressed concerns because their new client didn’t want to pay by credit card…they wanted to pay by wire transfer.  And as a result, the client needed the poster’s bank information *gasp*

Not only are there legit reasons to ask for and accept wire transfers and ACHs as a form of payment but there are also legit ways to get it done WITHOUT giving up your bank account number.

In this episode, the first of the “inspired by” topics, I’m giving up the goods and telling you exactly how to do that.

I’m giving you a list of my top 3 alternatives to credit card payments (plus a bonus one) and I issue a very strong warning about what NOT to do/use for money transfers.

Mentioned in this episode: 

  • 4 Alternatives to Wire Transfers
  • Why you shouldn’t use personal money transfer systems like the Friends & Family option in Paypal or Zelle or Venmo or CashApp when conducting business

Additional resources:

Highlights of this episode:

  • 01:28  Question:  Should you allow international clients to pay via wire transfer or ACH?  How can you do them and protect your banking information?
  • 02:21  Question (continued):  (a) Is this person a scammer?  (b) Are there alternative solutions to wire transfers?
  • 02:55  Short answer:  big business norms
  • 05:20  A few service providers that are created to be ACH/wire transfer third parties
  • 05:51  Four companies I recommended – Veem, Transferwise, Stripe ACH, Western Union
  • 06:47  What additional steps you may need to take to confirm information
  • 07:42  Another option for those with multiple bank accounts & using Profit First
  • 09:58  A few “not to do”s…like using personal money transfer services for business purposes (ie: Friends & Family option in Paypal, Zell, Venmo, CashApp, etc)

Thanks for listening…Don’t miss an episode, subscribe on: Anchor | iTunes | Spotify | Stitcher

Episode 009 – Bookkeeping Basics You Can’t Ignore

Episode 009 – Bookkeeping Basics You Can’t Ignore

Listen On: iTunes | Google PlaySpotify Stitcher

About This Episode

Bookkeeping can be intimidating and a bit overwhelming but it doesn’t have to be.  It can (and should be) a tool that you can use to plan and scale your business… sooner than later.

In this episode, I’m giving you four quick tips to get you on board with bookkeeping.  Just the basics. Afterall, we have to start with a foundation, right? RIGHT!

Mentioned in this episode: 

Additional Resources:

Highlights of this episode:

  • 00:45  Introduction of this episode’s topic – bookkeeping and preventing messy money
  • 01:22  Tips to make bookkeeping a little less intimidating and less overwhelming
  • 02:12  Some accounting jargon every business owner should know
  • 03:34  How to record more complicated transactions
  • 03:47  How to get feedback from your accountant (leaving numbers notes)
  • 04:34  How to figure out tax deductibility
  • 06:08  How frequency and consistency can make bookkeeping less overwhelming
  • 08:24  Do you know your numbers?  A quick walkthrough of financial statements, “the reports”, and what it all means

Thanks for listening…Don’t miss an episode, subscribe on: Anchor | iTunes | Spotify | Stitcher

Episode 008 – 3 Bad Money Habits That Drive Your CPA Crazy

Episode 008 – 3 Bad Money Habits That Drive Your CPA Crazy

Listen On: iTunes | Google PlaySpotify Stitcher

About This Episode

These 3 bad money habits not only drive your CPA crazy… but they’re probably killing your productivity AND your profits.

In this episode, I’m giving the 3 things that drive me absolutely bonkers about messy money habits… and what you can do to turn it around quickly!

Mentioned in this episode: 

Highlights of this episode:

  • 00:47  Bad Money Habit #1 – Why saying “I’m not good at math” is stunting your business growth
  • 03:38  Bad Money Habit #2 – Why the lack of interest around your business money/cash flow is concerning
  • 05:31  Bad Money Habit #3 – Why messy money and having bits and bobs everywhere is confusing
  • 08:58  Recap of the 3 Bad Money Habits and how to fix them

Remember To Subscribe On: Anchor | iTunes | Spotify | Stitcher

Episode 007 – Building A Business On Purpose

Episode 007 – Building A Business On Purpose

Listen On: iTunes | Google PlaySpotify Stitcher

About This Episode

Building a growing, thriving, successful business isn’t a given.  It won’t just fall out of the sky… you can’t just build it and the customers will come.

Over the years, I’ve made a few observations, my informal case study, into what makes for a successful business.

Mentioned in this episode: 

  • The crazy stats – few businesses make it to their 5 year anniversary & even fewer make it to their 10th anniversary and beyond.
  • The 3 things that I’ve noticed among the successful businesses around me… what they do that others don’t do (or don’t do consistently).

Highlights of this episode:

  • 01:12  What does it take to start, build and grow a successful business?
  • 01:46  Why you need more than goals…why you need a plan of attack
  • 02:13  Why you need to invest in yourself and your business in various ways
  • 03:44  A few of my business game changers at different price points to help you invest in yourself and your business
  • 06:32  Why you should take stock in what you’re doing and why you’re doing it BEFORE you invest
  • 07:10  Why tracking (and it’s frequency) matters to your overall ROI
  • 09:33  Recap…top three things to do to make it to 10 years and beyond

Here’s a list of the books & resources mentioned in this episode*:

  • 12 Week Year – Get More Done in 12 Weeks Than Others Do in 12 Months – by Brian P Moran and Michael Lennington
  • Traction – Get a Grip On Your Business by Gino Wickman
  • Smart Leaders Sell by Jessica Lorimer (she also has a 90 Day Sales Planner)
  • You’re a Badass & You’re A Badass at Making Money by Jen Sincero
  • Think And Grow Rich by Napoleon Hill
  • The Miracle Morning by Hal Elrod

I also mentioned my very own business trackers & spreadsheet templates.  If you’d like to get access to the business trackers that I’m working on…join the wait list here.

Additional Building A Business Resources:

*This is a link to my Amazon shop so you may find more than the books/resources listed in this posting.

Remember To Subscribe On: Anchor | iTunes | Spotify | Stitcher

Episode 006 – The Truth About 6 Figures

About This Episode

Six Figures isn’t all that it’s cracked up to be, especially when there seems to be a moving target & every changing definition that suits the exclaimer…

I’m calling BS on 6 figure claims in marketing…it’s bothersome and frustrating unless you ask the right questions and shift your focus.  It’s easier than you think and it’s probably not what you think it is.

In this episode, I have a few questions for you.  What to contemplate and ponder whenever you hear the works “6 figures” touted somewhere on someone’s sales copy…

I’m not saying that it’s not true 6 figures but what I am saying is be cautious and read between the lines – IE: revenue versus profit or billed versus cash collected.  

The words barely register but there is a huge difference. And let’s not forget positive cash flow. That’s the second layer to ponder…

Mentioned in this episode: 

  • Where you can schedule a coffee chat consultation with Joyce: thecommoncents.com/consult  
  • Happy Birthday to my sister 🙂

Highlights of this episode:

  • 00:33  How do you feel about the whole “six figures” era? 
  • 02:30  The two biggies that bother me about the mystique of importance
  • 03:26  Why being vague is bothersome
  • 09:53  Why random “magical” measures of success are bothersome
  • 10:23  What to focus on instead (profit & positive cash flow)
  • 16:45  Birthday shout out

Remember To Subscribe On: Anchor | iTunes | Spotify | Stitcher

Episode 005 – Surviving Tax Time

About This Episode

Tax time can be stressful for anyone but it really doesn’t have to be.  As a reformed tax preparer, I have a few tips, tricks & hacks that will de-stress tax time for you, your family and your tax person (if you have one).

Mentioned in this episode: 

  • What to do before, during and after you do your taxes.
  • My favorite thing to do – it may or may not involve wine
  • Bonus tips to help you stay on track all year

Highlights of this episode:

  • 00:46  Why you need to be mindful of estimated taxes
  • 01:57  What to be mindful of when selling physical products (sales and use taxes)
  • 02:40  What about other taxes and filing fees?
  • 04:27  Who needs to prepare W2s?  Who gets a 1099?
  • 06:34  What simple steps you can take to get ready for tax day to make it a lot less stressful
  • 10:59  What you can actually DO to not stress out

Remember To Subscribe On: Anchor | iTunes | Spotify | Stitcher

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