Need to Set Up And Maintain Your Biz Finances? Start here.
Part 2 of our 2 part Financial Foundations series taking place on April 26th & 27th, 2023 from 9:00-10:00 am PT / 12:00-1:00 pm ET. For details on part 1, click here.
You’ve probably heard in business finance webinars, from accountants, from bookkeepers …
“It’s important to set up and maintain your business’ finances”.
Ok, sure, but WHAT the HECK does that even mean and how do you get started?
Knowing what you should do is very different from knowing how to do it (or how to do it well). I love unsolicited advice as much as the next business owner (not!) - so I think it’s also important to understand WHY you are doing it (so it doesn’t just get brushed to the side of your desk week after week).
So many business owners begin their journey at “biz finance ground zero”. This looks like not knowing where to start when it comes to maintaining your biz finances and maybe some limited knowledge around the simplest bookkeeping. What is not getting answered are the more loaded (and very important) finance-related questions like:
💡“What can I do to make smart financial decisions?”
💸“How do I keep more of the money I make?”
🤔“How do I decide if I should do X, Y or Z?”
The answer to these questions can come from Financial Statements, which are prepared based on financial data through the process of proper bookkeeping.
And all comes to life with a bit of financial literacy and a system!
The light at the end of this tunnel? With more visibility on your finances, you’ll be able to use them to make informed decisions, which will ultimately allow you to:
Pay yourself a full-time salary
Feel secure in your finances and sleep better at night
Step out of side hustle mode and into CEO mode
Join me in part 2 of this series, where you will learn about:
The 3 key financial reports (i.e. profit & loss, balance sheet, cashflow statement) explained in plain language and why they matter
How these financial reports fit into the bigger picture of setting up and maintaining your biz finances
Three tools that’ll help you take the first steps to setting up and maintaining your biz finances
Hi! I’m Jacinthe. Your financial fairy godmother.
On the surface, my career has looked like a fun ride. From starting out as an Interior Designer, then launching a prepared meal delivery business (before they were popular), to moving across the country and working at a yoga studio while volunteering to teach university students how to cook.
I’ve started 6 businesses, worked in 3 startups as an employee, and had side hustles from cater waitering to working at a friend’s micro-brewery.
Throughout my business building journey, I didn't understand how the money worked in my business. I went through cycles of burn out and debt, carrying $1,000’s in credit card debt, which incurred $1,000’s in interest. And those cycles continued until I learned how to manage my business finances.
A move led me to the West Coast of Canada, where in more recent years, I became the co-founder of a management accounting firm (total left turn right?!).
Growing that business alongside my Chief Financial Officer (CFO) and accountant co-founders, I not only learned how I was supposed to manage business finances, but also became passionate about financial literacy for creative business owners.
I’ve seen the same stress and shame I had experienced in my early business owner days in the hundreds of businesses I’ve spoken with and supported since 2017.
And that’s why I founded Koddo & Co. — to level the playing field and help creative business owners shed light onto the financial side of their business, so they can build profitable businesses with steady cash flow and pay themselves way better than a decent salary!