Do you really know the connection between a healthy, mind body and wallet? Connie and I spoke with Larissa Zimmerman from National Financial Fitness on our Talk Show this week.
Larissa provides financial education for individuals and businesses – to help them gain control of their life. Larissa promotes, and lives, the concept that when you get your mindset right around your financial situation, your health and wealth follows.
I found it interesting that Larissa often receives referrals from Financial Planners – because some people who are seeking financial advise aren’t prepared – and don’t know how to prepare. Larissa provides the basic (and not so basic) financial management skills.
The main reason that Financial Planners send clients to Larissa is because those client don’t know where they are financially, how much they really have coming in the door, how much they spend, what loans they etc.
Through her training, Larissa is able to help her clients become very clear about their financial position, so that the Financial Planners can help further.
One tool that is used in this training, are ’scenario sheets’. That track what you think you’re earning and spending and give a lot of clarity. As a special offer for our listeners, Larissa offered anyone who emails her from National Financial Fitness and mention they were listening to the call and she will send you the Scenario Sheets (and some info on how to use them).
The question is, what do you – as a small business person – need to know to manage your business? In fact, as an individual, are you managing your personal finances. I’ve found that if you aren’t managing your personal finances, managing your business finances is even more challenging.
Larissa and I had an indepth discussion about budgetting – and its importance to the household. In fact, Larissa shared the story of one of her clients – who through setting up a budget, getting her mindset in place and focussing on the positive / enjoyable free activities she could do – went from living on next to nothing to purchasing a positive cash flow investment property in 12 to 18 months.
The point is – that as business owners, we need to have a level of financial education so that we can manage our businesses properly.
So tell me – what do are you doing to understand the financial management aspects of your business?
0 comments