I went to get my eyebrows done and thought I was cute walking out of the salon.

Got in my car and drove all the way home, and it was about a 25-minute ride.

I went to go into the house and realized my wallet wasn't with me. I had to go back immediately!

I panicked the whole time. I walked inside the shop, and much to my delight, the one who provided the service is the one who found my wallet, which was on the side of the seat.

I felt lucky that day.

I know you feel lucky whenever you can just pull out that business "everyday" card and pay a bill or buy groceries and gas.

But when you evaluate your business, and it looks like it isn't making money and that profit & loss is looking crazy, you don't feel so lucky then.

Some of us use our business card to make personal purchases and so far, everything appears to be falling in place. There are no issues.

Until it's time to play big games. (Expansion, inventory, opportunities, hiring personnel) REALITY SETS IN.

The chances of me leaving my wallet again, somewhere else, and it being returned are very slim. I keep leaving it, and it's a huge chance my luck will run dry, the same for you if you have a business spending habit that doesn't get checked.

May I kindly make a few suggestions? Or remind you, because some of us knew this already, but we forgot. 😉

~Personal needs audit: List personal (ESSENTIAL) expenses, add a 10% buffer for joy-if you must, and use this as the minimum amount needed to transfer as Owner's Draw.

~Audit that autopay
Look for personal subscriptions you forgot about hitting the biz account.

ALSO look for business software hitting your personal account. Move transactions to the correct card by adjusting the payment method.

~Establishing a 'weekly draw' ritual will be beneficial.
Pick a day. Maybe, Friday.
Transfer your set 'owner's draw' from business checking to personal checking. (please categorize, otherwise, more work later)

~Tell QuickBooks what you did
Go find those personal expenses in QuickBooks and categorize them as Owner's Draw/Equity (for sole proprietors, single-member LLC's, partnerships) so they don't look like business losses.

Feeling lucky is great. In business though, we don’t get far with it. Effort does the trick.

Clean accounts = clean data = better decisions. And this is what we want. 😎

Quote of the day

“Don’t speak negatively about yourself, even as a joke. Your body doesn’t know the difference. Words are energy and cast spells, that’s why it’s called spelling. Change the way you speak about yourself and you can change your life. What you are not changing, you are choosing.”

~Bruce Lee

I make a mistake and the first voice that comes in my head is Fred Sanford’s. “Big Dummy.” It’s playful, but it sticks. And it adds up. We start believing the things we tell ourselves.

Thank you.

Did you see that race with Nathan Martin? It was the Los Angeles Marathon, and I think his competitor thought he had it in the bag. 😁I am not laughing at the downfall. I can just relate. Right when we think we got it tied up, life comes around the corner or in this case, catches up with you to remind you that’s it’s real to the very end. Check it out for yourself. It is inspiring for many reasons. I hope you are having an awesome week. Thank you very much for your support! 🤗

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