"there'll be a bunch of deductions that they've missed out on because of that"

Liz Jarvis, a financial mentor, shares tips for growing a business without the stress and overwhelm. She emphasises the importance of not abdicating the financial aspects of your business and staying connected to your financial statements. She also advises getting clear about your business goals and ensuring that your passion aligns with what people actually want. 

Liz shares her journey from being an accountant to starting her own business and helping business owners understand and take control of their finances.She highlights the common challenges faced by business owners, such as not charging enough for their products or services and not having a clear understanding of their financial statements. 

Liz shares examples of how she helps business owners uncover financial issues and make necessary adjustments. She also talks about her book, 'Financial Rebellion,' and her plans to create courses and an online community. 

 

Takeaways

• 
  
• Don't abdicate the financial aspects of your business; stay connected to your financial statements.
  
• Get clear about your business goals and ensure they align with what people actually want.
  
• Understand the power of your financials and how they can inform better decision-making.
  
• Don't be afraid to question and challenge the traditional accounting practices and chart of accounts.
  
• Empower yourself by learning about your business finances and using that knowledge to make informed decisions. Business owners often struggle with charging enough for their products or services, but understanding the financial aspects of their business can help them realise the need for higher prices.
  
• Exploring the balance sheet can reveal missed deductions, errors in bookkeeping, and even instances of fraud.
  
• Developing financial literacy and understanding the story behind the numbers can empower business owners to make better decisions.
  
• Liz Jarvis's book, 'Financial Rebellion,' aims to help business owners reclaim their financial power and challenge the status quo.
  

 

At a glance…

00:00 Introduction and Connection

03:14 The Importance of Understanding Your Financials

06:17 Taking Control of Your Finances

08:17 Questioning Traditional Accounting Practices

17:42 Empowering Business Owners through Financial Education

23:22 Uncovering Hidden Financial Challenges

27:28 Unveiling Bookkeeping Errors and Fraud

31:39 Financial Literacy and Empowerment

35:19 Challenging the Status Quo

38:39 Courses and Community

Resources

Liz's Links:

• 
  
• Website
  
• Youtube
  
• Instagram
  
• Facebook
  
• Linkedin
  
• Heart of your business video
  
• 5 steps to overcome financial anxiety
  

About the Guest

Liz Jarvis is the author of Financial Rebellion, she has become increasingly disappointed by the siloing of her profession. Recognising that “Accounting is Broken” and watching that play out into the financial disengagement of business owners and entrepreneurs spurred her into a crusade to work out how to fix it! Her vigorous yet very human campaign to encourage business owners to engage with their numbers is what led to the approach of her book. 

Her unique Financial Mentoring Practice, Better Business Decisions has already changed hundreds of lives. Working alongside business owners, she educates, supports and empowers them to understand the story of their numbers.

Liz enjoys learning with The Entourage and has been recognised for her positive impact on the businesses in that community, with their Community Impact Award in 2021.

See Transcript

The post #134: From Financial Anxiety to Financial Empowerment with Liz Jarvis appeared first on Website Love.