1. Get your Books in Order, then Run Financial Reports 

Before you run financial reports, be sure your financial records are current. It doesn’t matter if you have a folder of receipts or an accountant – you must do this before you do anything else. I am a huge fan of QuickBooks, but any cloud-based accounting software will streamline this process plus your accountant has direct access to your business records online. 

In the spirit of being sure your books are up to date, try to reconcile your accounts receivable. If you are a service-based business, you should have a running list of what invoices are unpaid. Try to collect those payments before the end of the year – this will improve your cash flow and a fresh start to the new year. 

Once your bookkeeping is complete, use your accounting software to generate: (1) profit and loss statement, (2) balance sheet; and (3) cash flow statement. These reports will allow you to review and assess whether you met your financial goals – specifically your profit and loss report. This is the best way to tell where your business stands financially. 

2. Prepare for Taxes. 

I wouldn’t be a lawyer if I did not lead with a disclaimer… I am not a tax professional and you should always consult a CPA for your tax needs. As general guidance, if you have contractors or vendors, you need current W9s on file. A W-9 includes all of the vendor information you need so their 1099 can be filled completely and correctly. If you are a vendor, be sure you send an updated W-9 to your clients, so they have what they need to file as well.

So what’s the deal with 1099s? The “general rule” is that business owners must issue a Form 1099-MISC to each person or entity to whom you have paid at least $600 in rents, services (including parts and materials), prizes and awards, or any other income payments. Consult your accountant to be sure this is done correctly. 

3. Evaluate Your Goals, then Create New Ones 

Business evaluation can start as a lofty exercise, so I suggest starting with what you KNOW you have done this year. Create a list of the accomplishments the business made this year. Record-breaking sales? Streamlined client intake? Top performing employees/contractors? Whatever it is, write it down. 

Next, evaluate your goals from last year. Pull out your business plan, accomplishment list, financial reports, and compare them to the goals you set for the year. 

● Did you accomplish what you set out for the year? Why/Why not? Has your market changed? Are consumers/clients shopping differently? 

● What do you want to do better? 

● What do you want to do more/less of? 

● What is costing (financial or time) your business more profitable? How do you fix it? 

● When you establish your goals for the next 12 months, your staffing needs should be part of that discussion. Could you have made more money if you had an extra hand or two? 

Use these notes to help you with your business plan and goals for next year. It is not enough to state “increase revenue”. How much do you want to increase revenue? How will you increase revenue by 20%? Will it require more advertising? More employees? Develop an action plan so the goal is achievable. 

4. Back that Thang Up — your data that is.

Back up all of your files, including accounting, client files, contacts, notes, and emails. If you don’t have one already, invest in an external hard drive or a cloud-based system. Data security is critical to a business so be sure your data is safe. 

5. Audit your Website and Social Branding 

Your website and social media are a living marketing tool. Review it to be sure links are still active and contact information is correct. Your website should grow with your business. Should you make updates to scale for your next year’s goals? Are you engaging your followers to understand their consumer needs? How can you profit from them? 

You are encouraged to use this checklist to benefit your business and profits.

The post Small Business Year-End Checklist By Jasmine Johnson appeared first on CEO Medium.

Can you tell us more about your path to where you are now? 

Innovation and authenticity have been pillars of success for Rene and Jonathan Shapiro. First, as Jon Saint in the 1990s, I innovated in the world of hip hop as a writer, producer, and performer. Later, pivoting into retail apparel, we became the founders and operators of Beautiful Girl Stores. We built our reputation as cutting-edge apparel retailers who had a finger on the pulse of the next trend. 

When the recession of 2008 flattened one too many businesses, we knew we’d need to adapt. After a pivot into fast fashion, we conceptualized and launched a 15-store women’s retail clothing boutique chain Mixology Clothing Company, along with ShopMixology.com. 

Never complacent, in 2019, we recognized CBD and wellness as our next great endeavor. In Oct 2020, we launched a full-spectrum, all-natural CBD wellness brand, Mindset Wellness CBD.  Mindset Wellness CBD is a lifestyle company that sells direct to consumers via e-commerce and pop-up shops. With vegan and organic CBD gummies, drops, pain relief cream, skincare, bath bombs, bath salts, and honey sticks in different “mindsets” or moods, we’re able to address customer’s wants and needs. 

What inspired the brand? How did you go about creating it?

It started during the early days of Covid. Things got tense. We had a choice–we could either choose a lacking mindset or a growth mindset. We chose a growth mindset and wanted people to be able to do the same without fear and anxiety.

We started the brand out of a desire to help people. As someone who has suffered from lifelong anxiety, I was always looking for a way to feel better. In 2019, after 30 years of prescriptions and therapy, it was through CBD that I found peace. 

We knew it was time to leave our fashion boutiques to pursue a lifestyle and business that was about healing and CBD. Rene and I had a deep need to share our wellness with the world.

How does your brand work? 

We created six specific “mindsets” in our line. Within each of those mindsets: happy, calm, focus, health, beauty, and rest, various CBD products help encourage the mindset you chose. 

We do this by infusing our full-spectrum CBD with specific terpenes and vitamins. Also, all our gummies and drops are vegan and organic. We use apple pectin instead of gelatin and only pure can sugar to make the most amazing gummies. Our drops are MCT cold-pressed coconut oil. All our CBD products contain less than .03 THC. It is grown, harvested, formulated, and packaged in the United States. Lastly, all Mindset CBD products are third party tested.

What is your giveaway thought or idea? 

Take a chance on happiness. We left a business that we built, that supported and fed our family, but we were not aligned with it anymore. Our authentic purpose was to spread healing and education and ultimately make people feel better. Success will find you if you do the right things. We’ve done them in business together for 20 years, and in life together, married 29 years.

What challenges did you face while working on your brand? What are your daily challenges?

Creating a brand was a gift. It was a download. The challenge was how to get it out of my head and into the world. I created the mindsets, then as a self-taught graphic designer, I created the graphics. Next, as a self-taught web developer, I built the site.

In building the products Rene and I worked with craft cannabis formulators–a talented team with whom we developed each Mindset CBD formula. Our challenges are the same challenges any start-up faces. Rene and I are doing everything ourselves. One of the keys to the brand’s success is in getting people to try it. Once they do, they are so happy. So, Rene and I hit the road and did live product demonstrations and socially distanced pop-up shops. We know from our experience there is no substitute for connecting with a customer.

How do you manage your business finances? 

We bootstrapped Mindset Wellness CBD ourselves. We are all in. The investment will come if that is the road we want to travel, but right now it’s our baby and we want to nurture and love it. With that said, one thing we’ve learned is to always be open to conversation.

What’s your vision of the future? What’s your next level dream for your business?

The next phase for Mindset is in the introduction of exciting and new CBD products. Our Mask Mouth CBD mouth and mask refresher is a hit because there is nothing like it in the market and it addresses a real need. Innovation and authenticity are key, from the concept to the products. The next phase for Mindset will include wholesale distribution, beverages (water and hard seltzer), and apparel.

What message do you have for anybody with a plan of creating something of their own and making a living through it? 

Do it. Love it. Prepare to wait. It may seem as if it’s not happening as fast as it should, but remember you are always right on time! Be scared, just don’t let it stop you. Trust in the universe. Be ethical in all you do. Surround yourself with people who align with your mission and your life.

 Mindset Wellness CBD

Website: mindsetwellnesscbd.com

Instagram: @mindsetwellnesscbd

The post Entrepreneurs Pivot Amid Pandemic and Focus on Mindset Wellness CBD appeared first on CEO Medium.

Sophie Shepherd, FDN-P is the Founder and CEO of SHE TALKS HEALTH, produced THE SHE TALKS HEALTH PODCAST, and is a women’s menstrual and hormone health coach. 

Sophie helps women around the globe transform their menstrual and hormone health through a combination of root cause diagnostic testing and nutrition and lifestyle science, so they can finally have straight answers to their most mystifying symptoms. 

Sophie’s mission is to educate and empower women about how they can use their menstrual cycle as a superpower to reclaim their health and get their lives back! 

Tell us more about yourself and what you do.  

As a functional diagnostic nutrition practitioner (FDN-P) and health coach who specializes in empowering women with their menstrual health, I talk a lot about periods, hormones, and all the things that influence them. I believe that all menstruating women have a choice – they can either fight against nature, hating their hormones and their bodies, or they can tap into an untapped superpower and work with the natural ebbs and flows of their hormones through the month. The hormonal cascade influences how we act and react, how we show up at work, how we communicate with our partners and staff, and how we tackle projects and deadlines. It impacts everything.

We are in control of the health outcomes we want to achieve. Once we take charge of our health, we can have the world. All we need are the tools to do that. I give women the tools so they can stop feeling held back by their health challenges and get back to thriving.

I do this through functional lab testing, deep coaching, and loving support. Functional Diagnostic Nutrition Practitioners believe that downstream symptoms are part of larger upstream hidden stressors. As an FDN-P,  I dig deep into the root causes and hidden imbalances in the body from heavy metal toxicity to mineral imbalances, gut dysfunction, and stealth infections that can cause a woman’s hormones and period to get disturbed. 

Once we have the data, I develop a program of customized behavioral, lifestyle, and dietary changes, then coach them through a unique journey. It’s a journey that will not only change how they feel right now but also put them on a trajectory of health and vitality for the long haul. 

Most women who come to see me are sick and tired of being sick and tired! They are struggling with brain fog and fatigue that prevent them from climbing the ladder at work. They are dealing with anxiety and depression that make them want to curl up in a ball under the covers. Their periods are either missing, irregular or so unbearably painful that they can’t even go to work, play with their kids, or schedule a fun night out. They are holding onto weight that makes them feel terrible about themselves. They’ve tried every diet, tincture, pill, and exercise routine. They’re at a loss as to why they feel so awful and are desperate to know how they can get back to themselves.

Through their work with me, they get answers to their questions about their mysterious symptoms and those symptoms disappear. But it’s deeper than that, they learn how to listen to their bodies, and transform their lives with the confidence and vitality they deserve. They know they can do anything they want without being held back. 

How did you create your brand, and what inspired you? 

I created SHE TALKS HEALTH on a napkin in a bar in Astoria, NY with my boyfriend. The genesis came years prior, sparked from my health journey. I’d had years of digestive issues since I was 16. After seven years of suffering through flares from my IBS all through high school and college, the stress in my life toppled my health at the young age of 22. 

My hair was falling out; my fatigue was unbearable; my depression and anxiety were peaking; I was overweight and miserable. It wasn’t a way to live. I turned to my doctor for help, and she said, “You are probably just depressed.” 

But I knew better, depression couldn’t make me feel like an 80-year-old stuck in a 20-year-old’s body.

I advocated for myself (something I’ve had to do and now teach my clients to do routinely). She ran blood work and found I was hypothyroid, prescribed me medication for my thyroid, and told me I’d be on the meds for the rest of my life. 

After about six months on those meds, I wound up back in her office because the symptoms crept back. I wanted a full thyroid panel. 

She told me “You are making this too complicated, your thyroid is normal, there is nothing I can do for you, go seek psychiatric medication.”

This is when I decided that I had had enough! I googled, searched, and found a functional medicine physician who listened to me, heard me, and taught me how to heal my body using lifestyle medicine.  

That was 9 years ago. I no longer have IBS, nor do I take medication for my thyroid.

Once I healed, I knew I had a responsibility to let other women know they didn’t have to feel this way–with no outlets for support, no resources to know what was going on in their health, and no control over their bodies

And thus, SHE TALKS HEALTH began. 

Today, I do anything and everything I can to empower and educate women through my various programs and resources. I have the SHE TALKS HEALTH PODCAST where I interview top doctors and practitioners on all things women’s health. 

My 1:1 VIP SHINE HEALTH EXPERIENCE is designed for powerful, hard-working female leaders and moms who are sick and tired of having their health hold them back. Over 6 months, these VIP clients get hands-on support from me every single day, where I guide them through a customized holistic lifestyle plan based on their unique lab work so they can stop letting hormonal chaos run their world.

I also have an incredibly exciting new offering – EmpowerHER, a 12 week Gut & Hormone Transformation group program. I partnered with Kylene Terhune, another incredible FDN-P, to give women a community + the lab testing to get to the bottom of their digestive and hormone imbalances.

We are always creating new things at SHE TALKS HEALTH, and are super excited for our new DONE FOR YOU courses which will come out in 2021, for women who need to take the health journey at their own pace.

What is your giveaway idea?

I’d love your readers to access my free seed cycling guide so they can start supporting all phases of their menstrual cycle with one easy lifestyle change!

Be sure to grab your free Seed Cycling for Hormonal Balance, a generous food guide that can help lead you back to happy, hormonal health from SHE Talks Health. 

What challenges did you face as you build your brand? What challenges do you face daily? 

When you become a health coach, they don’t teach you to “niche down” or how to balance a budget or market yourself. You think, okay, I’m here. I’m ready to help people….and Nothing Happens. 

This happened to me. I had this deep desire to help women, but I didn’t know how to get my message out. It was a rough couple of years, working 4 part-time jobs including being a health coach until I hired my business coach, Kristin Thomas, of the Health and Wellness Business School. She taught me how to run a business not just as a practitioner but as a CEO. How to grow, expand, and reach my audience so that my message can reach thousands of women who need this.

I also had to deal with my challenges. You see, personal issues ARE your business issues. I had money mindset issues, self-worth issues, and so much more. I hired another coach, Ani Manian, who works on changing the subconscious mind. He helped me work through all my limiting belief systems that were holding me back from feeling like I had something to offer!

Now, my day to day challenges are very different – mainly it’s time and growth. My company is in the position of exponential growth. Figuring out how to grow and still meet the standards of our clientele and manage a team of three women who are all committed to the mission of SHE TALKS HEALTH is a challenge. One of my dreams is to hire junior coaches who are just as scared as I was when I started my business, and give them a haven to hone their skills.

How do you manage your business finances? Were you funded?

Ha! Funding would have been nice! No, this is all self-funded. One year ago, I had a choice. I could keep playing small or dive in completely. I chose the latter which meant investing in my business, and in truth, investing in myself. 

I used low interest or 0% APR credit cards to finance my incredible coaches. Once I learned how to do marketing and sales, I’ve been able to steadily save, pay off debt, and pay my team. The most incredible thing about my income is that it’s from women whose lives I have the privilege of helping to change. There is no better reward than that.

What’s your future vision? How far do you want to take your business?  What is your next level dream? 

I dream of massive ripple effects with SHE TALKS HEALTH. I want to continue to be on the cutting edge of the future of functional nutrition and women’s health. I want our brand to have the finances to invest in period advocacy worldwide, to help women in impoverished areas have access to women’s health education. I dream of a world where SHE TALKS HEALTH funds sex education that includes a section where boys and girls are taught the beauty of the woman’s menstrual cycle, and that it shouldn’t be something shameful or to be feared. I dream of a world where our brand can help train employees and CEOS of the power behind using the menstrual cycle to leverage productivity in the female workforce. 

What message would you like to give to anybody who has a plan of creating something of their own and making a living through it?

If you have a fire in your belly and a dream in your heart, you can do anything. Just keep going. You can do ANYTHING you set your mind to. Thoughts and intentions are everything. Create a gratitude journal, do manifestation exercises, and get out of your way – the only person holding you back is you.

SHE TALKS HEALTH

Website: www.shetalkshealth.com

Instagram: www.instagram.com/shetalkshealth

The post How Menstrual Cycle Empowerment Can Transform your Productivity, Diet, Lifestyle, and Relationships appeared first on CEO Medium.

Tell us about yourself and your new business. 

Kiara: I’m a Public Relations professional. I founded KHPR, Inc., a boutique PR company, at just 27 years old. I fell in love with wellness and fitness when my health took a turn for the worst a few years ago. Then, the world changed overnight. I wanted to shift my energy into something that was empowering and built a community-focused platform to help women feel like the best version of themselves. 

Kate: I’m an influencer, a social media expert, and a fitness instructor with a background in marketing and sales. I left my corporate job to pursue a career in the fitness industry. I landed at Box + Flow as a Brand Partnerships Manager and Instructor, and eventually as the SVP of beRevolutionarie. 

How did you create the brand?  What inspired you?

I (Kiara Horwitz), called Kate in the early days of the pandemic with the idea of a wellness platform. I have a PR background, while Kate had the fitness and social expertise. The sole idea was to create a platform for women — a catch-all for fitness and wellness advice tips. We wanted it to be uplifting and safe. We didn’t want people to lose the part of their routines that kept them sane because of the uncharted territory we’re going through. 

How does your brand work? 

Our website is where it all happens. You can find a wide range of workouts on the beRev platform. You’ll find everything from stretching routines, to pilates, to cycling classes complete with their playlists. 

On our blog, we offer wellness tips, along with easy, healthy recipes that make every day a little bit easier. And of course, we have our beRev Perks Program where members are offered special discounts and access to specially curated brands that align with our core messaging. 

What is your giveaway idea? What’s it all about? 

For us, beRevolutionarie is about the community. Many of us have felt disconnected from our routines and our communities during this weird time, so we wanted to create something interactive, uplifting, and different from what we tend to see on fitness platforms. We wanted to hand to the metaphorical mic, if you will, to the instructors and creators who lend their voices and expertise to our platform. When they feel seen and empowered, the rest will follow. 

What challenges have you encountered while building a new brand?

It’s incredibly hard to create a company during a pandemic. Every day we’re presented with a new obstacle. Since online wellness platforms of this kind are uncharted territory, we’re just playing it by ear. But we show up each day ready to fight for what we’re building, which is the most important thing. We believe that what we’re doing is important and we have no plans on stopping now. 

How do you handle your business finances, such as funding? 

We haven’t received any funding. The brand was bootstrapped by Kiara herself.

What’s your future vision for the company? What is your dream of the next level? How far do you want to take it? 

For now, we’re focused on growing our base and subscribers. Building a strong following is key to achieving the next steps. We will be launching our digital LIVE classes in December! Five years down the road? We would love to open physical studios. 

What message would you give to anybody who plans on creating something of their own and making a living through it? 

Be as prepared as you can: financially, physically, and mentally. Know how to find the balance between working hard and resting, because it will take a lot of work. It can be very taxing. Stay true to your authentic self, and never forget why you started in the first place, because it will get tough, but it’s admirable enough just to set out on your own and create something you believe in.

Follow on Instagram: @katekerner @tiarawithak @berevolutionarie

Website:   www.berevolutionarie.com

The post beRevolutionarie is a Fitness and Wellness Platform Built by Women, for Women appeared first on CEO Medium.

Sarandrea has consistently ranked as one of the top entrepreneurs “under 30” and was recently featured alongside Snapchat’s founder Evan Spiegel as one of the Entrepreneurs Changing the World.

Can you tell us more about what you do? 

I run a series of websites aimed at helping Americans with their finances and insurance. We provide solutions to everyday problems, whether it’s affordable insurance, attainable credit, or budgeting tips. We’re one of the largest online lending marketplaces in the United States. We connect Americans with multiple financial products. We do this so they can find the best deals on insurance, raise their credit, budget better, and more. The end goal is helping American families save money.

How did you create your brand? 

My family was very religious, and I spent the first few years of my life dreaming about becoming a priest. In later years, I shifted to health and helping people lose weight or achieve their fitness goals. All these professions are focused on helping people, which was my goal above all else, but I soon realized that money/finances are the root cause of a lot of problems.

We live in a throwaway, consumer-obsessed society, one where people spend what they don’t have, accumulate debts they can’t afford, and spend the rest of their lives in a cycle of credit, debt, and misery. This is ultimately why I switched to financial services. Today we connect thousands of Americans to different financial and insurance products. This ultimately helps put more money in their pockets and have better peace of mind. 

How does your brand work?

In many ways, we’re a conduit for essential financial services. We connect people who have debt, need insurance, or require low-interest credit with the companies that can help. Our websites educate consumers on the perils of high-interest debt while providing tips on saving money, comparing policies, and forgiving loans. When they’re ready to take the next step, we point them in the right direction.

What advice can you offer to aspiring entrepreneurs?  

The best piece of advice I can give to aspiring entrepreneurs is not to fear failure, but to embrace it. Everyone wants to hear how great their business is and how well they’re doing, but insincere praise doesn’t help anyone. You need to look for the negative reviews and comments—seek out the complaints. Negativity is great for growth and essential for survival. Without it, you won’t fix the issues dragging your business down, and your competitors will innovate and grow ahead of you. FAIL FAST

It’s difficult to read negative reviews. You’ve put a lot of time and effort into your business. It’s your pride and joy. The last thing you want is for customers to trash it or get negative opinions on your startup idea. But, if you can dig into that negativity and listen to learn, dive deep into where the person’s reservations are, it’ll benefit you in the long run.

What challenges did you go through while creating your business? 

The problem with the financial services sector is that most companies are there to turn a profit at the expense of the consumer. They perpetuate poverty and profit off of getting people more and more in debt.

Naturally, consumers are wary, and that made it hard for us to get our message across. However, we’ve now reached a point where consumers trust us to provide them with helpful information and transparent services.

How do you manage your business finances? How did you fund your business?  

The business has always been self-funded. In the beginning, we expected slow and steady growth but continued working hard, re-investing, and growing our assets. As long as the next year was better than the last, I knew we were on the right track. Eventually, we reached a point where we were generating $100k in daily revenue without any outside capital help. This means we’re not relying on outsiders, we don’t have to worry about appeasing investors and shareholders, and we maintain 100% control.

Tell us your future vision about the brand. What is the next level?

As things stand, we’re fixers. We help cure the problem, but we aren’t preventing it. Customers come to us when they’re paying too much for car insurance or life insurance or looking for help with mountains of consumer debt. In the future, our goal is to advance consumer knowledge with regards to interest, debit, credit, and loans.

A 21-year-old shouldn’t be taking out a new credit card just to get 15% off their purchase at a department store. An 18-year old shouldn’t be agreeing to a lifetime of student loan debt without even understanding how APR works. Don’t get me wrong, these products can be great if you need them and know how to use them, but most consumers don’t, and that’s what we want to change.

What message would you like to give to anybody who has a plan of creating something of their own and making a living through it?

Embrace negativity, look for criticism and don’t assume your idea is perfect just because you think it is or because your family or friends tell you it is. You need real-world feedback from prospective customers, not empty admiration from loved ones.

Think about Jeff Hawkins, the investor of the PalmPilot. 

If a modern entrepreneur conceived such a revolutionary device as the PalmPilot, they would invest everything into production, raise funds, create multiple prototypes, and eventually arrive at a finished product, by which time the company reserves would be one disaster away from complete annihilation. Hawkins, however, simply carved a block of wood into a PalmPilot shape and carried paper sleeves to simulate user interfaces. Every time he wanted to take notes or schedule an appointment, he would whip the device out and pretend to use it.

The feedback he received from friends and acquaintances, and the real-world applications he experienced, allowed him to build the perfect prototype first time, thus saving endless capital expenses.

This weird idea of carrying an inanimate object attached to your hip is what we modern-day couldn’t dream of living without, our cell phones.

Company name. : Pocket Your Dollars

Website URL :Pocketyourdollars.com

Instagram URL. : www.instagram.com/anthonysarandrea

The post Anthony Sarandrea is an Entrepreneur Under 30 to Keep Watching appeared first on CEO Medium.