Home » Posts tagged 'Money'

Posts tagged ‘Money’

Why Your Level of Wealth Can Be Dictated By How You Select Your Accountant

By: Todd Bates

As people grow in their business and careers they tend to seek professionals help with various tasks. No one can make it on the road to success in business by themselves. Whether your goal is $100,000 or $100 million you will need the expertise of others to help you get to the next level.

For many entrepreneurs, the challenge of selecting the right people is what prevents them from achieving success. Generally the process to select professional help is merely based on referrals from a trusted friend or advisor.

While trusted referrals are a sufficient short term solution, it won’t necessarily give you the RIGHT person to catapult your business to the next level. Your friend might be well intentioned, but what works for them may not be in line with your specific business goals.

For example, let’s take the process of finding an accountant.

The right accountant will keep you on the path of wealth building while the wrong one lead you down a path of startling IRS notifications. Most often people choose their accountant too quickly and without asking the right questions.

When interviewing a prospective accountant most people ask questions such as:

How long have you been in business?
How many clients do you help each year?
How much are your fees?

While these questions are practical, in reality they won’t reveal the big picture or determine if the candidate is the right match for you. Comparatively, a question like, how much money do you make each year? digs deep on whether or not the applicant can truly help you.

It’s a telling question.

You certainly don’t want an accountant to help you who makes less than you. Even more, you don’t want an accountant who struggles on their own bills!
The phrase “do as I say, not as I do” is not one that you want in an accountant (or any professional you hire for that matter).

When it comes to hiring a professional you want someone who can help you reach higher in your goals, not keep you maintaining the status quo.

============================

As a Colorado native, Todd Bates played professional soccer while attending Colorado State. Todd Bates has been an entrepreneur from the day he graduated from college.

As a pioneer in the marketing field Todd has created 47 different companies that have helped small businesses put strategies into action that quickly increase their sales.
He is well known for his ability to get attendees to overcome their fears to take their business to the next level. Specializing in direct response marketing, sales conversion methods, and social marketing strategies, Todd has a passion for helping individuals and business improve their bottom line.

Click here to discover how you can build your wealth through marketing systems that won’t rely on you to succeed.

=============================

What do YOU think about this post? Do you agree or disagree???

Accountants: What’s your Excuse? by IAWAB Expert, Melanie Yost

The only reason a business fails is because the owner gives up. They encounter barriers, roadblocks or difficult circumstances and instead of finding a way over, around or through them, they stop. You may not like this reality, but it’s true.

In my interview series, The Money Impact: 11 Conscious Entrepreneurs Tell You the Truth about Money, Success and Making a Difference, a common theme through out all of the interviews is that each speaker never gave up. They created their vision and they stuck to it. They were committed to making their vision a reality. When unfortunate circumstances came up, they found a way to go over, around, through or under them. They used challenges as opportunities to change, adapt and grow. They are successful because they did not stop.

I believe that owning your own business and becoming an entrepreneur is the best self development course (right next to parenting) on the planet. All of our fears, insecurities and issues come right up in our face. Once we see them, we must make the choice to stop or to keep moving forward. Let’s look at 3 of the most common “reasons” why people stop in their journey.
Read the rest of this entry »

Understanding the Energy of Money by IAWAB Expert Melanie Yost

Money – we all want more of it. We want more to come in and less to go out.

Money is a major concern for the majority of the business owners with whom I have been speaking recently. They are scared. They are worried about spending money. Their plan for surviving “this economy” is to hang on to it, choosing very carefully what to buy.

Poverty consciousness really seems to be heightened among people in general and business owners in particular.

Poverty consciousness says that there is not enough money.
Read the rest of this entry »

IAWAB Faculty Expert-Anita Renee Johnson

Anita Renee’ Johnson, is a Wealth Management Coach for women.

Armed with a BBA in Accounting and a MS in Taxation, Anita Renee’ decided to continue her education with a PhD in Finance. (Graduation Date 2011)

She focuses her efforts on women’s growing concern around retirement. Estimation show that 80% of women will retire in poverty. With this information Anita Renee’ assist women in financial plan spending, wage gap disparities, wealth building and maintenance, through one on one consulting, training seminars, and keynote speaking.

Visit Anita Renee at her LinkedIn website http://www.linkedin.com/in/anitarjohnson and www.facebook.com/anitareneej. for additional information and viewing her full bio.

Common Money Mistakes of Accounting Entrepreneurs

Wait To Lease!

One of the most common mistakes that female accounting entrepreneurs make is becoming involved in the rental of office space before they are ready.

We see a lot of service professionals locking themselves into medium and long-term contracts when they do not have the financial resources or the stability of their income to handle this type of expense.

Because service professionals like accountants and CPA’s work mainly on one-on-one projects, their income can be unstable at times.

We advise them to wait until their income is guaranteed for a year or at least six months before they commmit to a medium term or long term lease.

The Psychology of Undercharging By Melanie Yost, LCSW

Many helping professional find themselves stuck in the trap of regularly reducing their rates.

This is a destructive cycle that not only hurts you, it also hurts your clients and has a negative impact on the treatment process.

Here’s how the cycle goes:

Reducing your rates decreases your income => which increases financial stress => which affects how you feel about yourself and the services your offer => which decreases the investment clients make in their own treatment => which creates feelings of frustration and resentment for you => which affects your energy and your thoughts about your clients => which negatively impact their treatment (the benefits and results) => which further affects how you feel about your value => which puts you out of resonance with the energy of money => which sets you up to continue attracting clients who can’t afford you => which means you reduce your rates . . . .and the cycle continues.

See how that works?

After talking with hundreds of helping professionals, I have come to understand the psychology of undercharging.

So, here are the 4 top reasons healers undercharge for their services:

1. You don’t understand how the energy of money works

Everything in the Universe is energy. That means that money is energy. All energy comes from the same divine source. Money is actually spiritual energy from a divine source that is attracted to fun, creativity, gratitude, service, truth and love energy. Worry, fear, desperation, shame, anger, resentment and guilt block the flow of energy and repel the energy of money. The more you stand in the power of who your really are, speak your truth, have fun, love yourself and others, express gratitude for the blessings in your life, honor your creativity and value yourself and others, the happier you will be and the more attractive you will be to the energy of money.

Most helping professionals know that their healing gifts come from a divine source. They just don’t really understand on a deep level that money also comes from that same divine source. It is easy to think that money comes from people. This belief is what gets us into trouble. When we believe that money comes from people, we focus on scarcity and lack especially when we hear reports about the bad economy, high unemployment rates and the news that people aren’t spending money. The truth is that money comes from the divine through other people to us. The Universe is the source of our financial abundance. Other people are just the conduit for the money to come to us – just like we are the conduit for the healing energy to flow to other people.

Here’s the kicker, though. Source can’t send you the money you desire through other people if you are not willing to receive it by telling other people about your services, offering them the opportunity to work with you and accepting your full rate as an exchange for the gift of healing.

2. You don’t own your true value

As entrepreneurs, we are the ones who set our rates and decide our value. This is really challenging because from an early age we are taught to seek our worth and value from sources outside of ourselves. Teachers evaluate our work and give us grades. Employers tell us what they are willing to pay us and provide us with yearly evaluations of our performance which determine whether or not they think we are worthy of receiving more money.

Many helping professionals suffer from feeling “not good enough” – that they don’t know enough or have enough experience – and that if they learn one more healing modality or get one more certification then they will be “worth” it. They rarely think about the time, energy and money they have invested into what they know. This doesn’t just mean training programs, this also means life experience. It is easy to assume that if you know it, then it must be common knowledge so it’s not so special and it certainly isn’t worth charging good money for. I know this was a big belief I had to overcome.

3. The savior syndrome

Helping professionals want to help people. This desire often crosses the line into thinking we know what is best for people and trying to rescue them whether they ask to be rescued or not. That’s why you don’t ask someone to work with you or you offer them a reduced rate without ever discussing your full rate because you “know” they can’t afford you and you want to protect them from feeling bad or make it easy for them to afford you. I talked in detail about how this behavior is actually hurtful to your clients in last week’s article. If you missed it you can go to my blog and read it www.awakenyourentrepreneur.com/blog.

Healers can see people’s true essence and the potential that comes when people step into who they really are. It is easy to become hypnotized by this and become more invested in someones healing process than they are. People have a right to choose to stay stuck in their pain, struggle and limiting beliefs. It serves a purpose for them and until they are ready to invest their time, energy and money into getting unstuck, we can’t help them.

It is easy to believe that if people are attracted to us or really want to work with us, then we have to work with them. WRONG! People are attracted to us for many reasons (sometimes it is because we would fulfill a role for a recurring destructive pattern that is active for them) and when it isn’t a good fit or they aren’t willing to make the emotional or financial investment in their own healing, then saying “no” to working can provide as much or more healing for them (and for you) than saying “yes”. I know this point of view will probably ruffle some feathers create some backlash but it is the truth. There are many talented helping professionals out there who can help them. It is not your job to save people who aren’t ready to be saved.

4. Treating your work as a ministry or hobby instead of a business

Over my 20 years in the healing world, I have come across many people who treat their business like a ministry, a spiritual practice or a hobby. That’s why it is easy to reduce rates. They haven’t looked at their work as a business that has expenses and overhead that must be considered in setting rates and bringing in income.

If you want your healing work to be a ministry or a hobby, that is fine. Just make it a conscious choice and know that you will need a primary source of income to support your living expenses as well as your healing work because ministries and hobbies are expensive to maintain. More money will flow out than will ever flow in.

If you want to support your lifestyle with your healing work, then you must learn how to run it like a business. Businesses have more money flowing in than flowing out. There are specific mindsets and skill sets you must master in order to make money as a helping professional. Set your fees based on what your business needs to make in order to cover expenses and pay you the income you want to receive.

You can get out of the trap of constantly reducing your rates if you are ready to invest the time, energy and money in learning the mindsets and the skill sets to do so.

==============================

Melanie Yost has been called a “miracle worker”. She has the ability to take negative situations and create lasting positive results. A therapist for 20 years and now a business development coach, she has successfully worked with individuals to transform their lives, their situations, and most importantly, their outcomes. When people are looking for an opportunity to create a 180 degree turn in their finances, beliefs, business and lives, they seek Melanie’s acute wisdom and compassionate touch. To learn more about Melanie and the products and services she offers, go to www.awakenyourentrepreneur.com.