Category: Growth Mindset

Volume 9 03.09.2023

Posted on by Biznezz Hub Consultancy in Accounting, Accounts Receivable management, Bookkkeeping, Business management, Growth Mindset, Revenue Management, Small Business, Uncategorized

Small business: SEWING / CRAFTING

Are you passionate about sewing and crafting? Looking to turn your hobby into a thriving small business? You’re in the right place! We’re here to help you create a successful venture in the world of sewing and crafting.

With a combination of creativity, dedication, and the right tools, you can transform your love for sewing and crafting into a profitable enterprise. Whether you’re interested in creating custom garments, handmade accessories, or unique home decor items, there’s a market waiting to embrace your talents.

From building a brand to marketing your products, we’ll guide you through each step of the journey. Discover valuable insights on sourcing materials, pricing strategies, and setting up an online presence. Unleash your creativity, nurture your passion, and embark on an exciting entrepreneurial venture.

When starting a business, it is important to consider the following key aspects:

  1. Identify your target audience: Find out who would be interested in buying your products or services by asking friends, family, and neighbors for their opinions (free reviews).
  2. Ensure profitability: Calculate the costs of producing your product or offering your service to see if it can generate enough profit to sustain your business. Look for tools, equipment, or free software you already have at home that can be utilized to minimize costs.
  3. Secure funding: Make sure you have enough money or access to capital to cover the initial expenses of starting your business. Estimate the costs involved in launching your small business after considering points 1 and 2.
Starting a small business in sewing and crafting

Don’t hesitate any longer — let’s get started on your sewing and crafting business success story today!

Starting small business in sewing and crafting

Let us know how your business venture is going and even these blogs are helpfull and user friendly

Vol.6 NEWSLETTER 02/04/2023

Posted on by Biznezz Hub Consultancy in Accounting, Accounts Receivable management, Affiliate Marketing, Affirmation, Bookkkeeping, Business management, Digital Marketing, Growth Mindset, life, Revenue Management, Small Business, Technology, Uncategorized

Bookkeeping for all content creators as small business

Bookkeeping for all content creators as small business

As a content creator, you are essentially running a small business, and bookkeeping is a critical aspect of managing your finances. Here are some tips to help you with bookkeeping as a content creator:

  1. Separate personal and business finances: It’s essential to keep your personal and business finances separate. You can open a separate bank account and credit card for your business transactions. This makes it easier to track your income and expenses and helps you stay organized.
  2. Track your income and expenses: Keep track of all the money coming in and going out of your business. This includes payments from clients, subscription fees, advertising revenue, and any expenses you incur, such as equipment, software, and website hosting.
  3. Use accounting software: Accounting software such as QuickBooks or FreshBooks can help you keep track of your finances and generate financial reports. These reports can help you track your income, expenses, and profits, and make informed business decisions.
  4. Set aside money for taxes: As a small business owner, you will be responsible for paying taxes. It’s important to set aside a portion of your income for taxes to avoid any surprises at tax time.
  5. Hire a professional if necessary: If bookkeeping is not your strong suit or you don’t have the time to manage it yourself, consider hiring a professional bookkeeper or accountant to help you manage your finances.

Content creators incur a variety of expenses and receive several types of income. Here are some examples:

Expenses:

  1. Equipment: Cameras, microphones, lighting, and other production equipment.
  2. Software and tools: Editing software, website hosting, social media scheduling tools, and other software necessary for content creation.
  3. Internet and phone bills: Monthly bills for internet access and phone services used for business purposes.
  4. Travel expenses: Costs associated with traveling for content creation, such as transportation, lodging, and meals.
  5. Professional development: Fees for courses, training, and conferences related to content creation.

Who are your clients/customers

  • Followers
  • Subscribers
  • Donators: Online viewers, who pay in the form of donating
  • TikTok viewers /attendees who gift you for your content or live shows
  • Viewers, purchasing through clicking on your affiliate links.
  • Potential clients: Submitting likes, on your social accounts.

Income:

  1. Ad revenue: Money earned from ads displayed on your website or YouTube channel.
  2. Sponsorships and partnerships: Payment for sponsored content or collaborations with brands.
  3. Affiliate marketing: Commission earned by promoting other companies’ products or services and earning a percentage of the sale.
  4. Subscription services: Income earned from paid subscription services or membership programs.
  5. Sales of digital products: Income earned from selling digital products such as e-books, courses, or music downloads.

These are just a few examples of the expenses and income that content creators may incur. The specific expenses and income will depend on the type of content created, the content creator’s business model, and their marketing strategies. It’s important for content creators to keep accurate records of all their expenses and income to properly manage their finances and maximize their profits.

Biznezz Hub Consultancy

Here at Biznezz Hub Consultancy, we understand, that things can get very overwhelming sometimes. We pride ourselves in matching our services to your business needs. Check out our website http://www.biznezzhub.com

We are not your traditional bookkeepers; we keep ourselves relevant to the micro and macro economy in order to better understand our clients’ needs.

Where can you find us?

http://www.biznezzhub.com

Is hope defined by age?

Posted on by Biznezz Hub Consultancy in Affirmation, Growth Mindset, life, Technology, Uncategorized

Is there anything you feel too old to do anymore?

Ironic, when I was a child all I wanted to be was 16 years old. Go to the movies with my friends, hang out and talk about the latest fashion trends.Dreaming about the coolest dude in school asking me to the movies. Those were the teen days. I was full of energy, healthy as an ox, youthful, silky, glowing skin. No weight problems, eat what and how much I like my metabolism was like a heated oven burn all the unwanted fat automaticly.Can it be I feel to old to maintain my weight or maybe aging hS deteriorated my glory skin?

After 16, I wanted to what we call in South Africa matriculate, finish school. Be independent, change the world and rebel against society stereotyping.Become an accountant solve financial problems and just maybe flip the script. Then life hit me you need money to do that. Can it be I’m to old to fight the struggle of proving them wrong.Can it be I lost hope. You are they anyway?

After high-school I wanted to be 21 years old, and just maybe things might change for the better.Instead I went into survival mode.Into the rat race if working, payrolls and chasing my dream.Did aging make me loose hope or faith? Am I to old to hope ?

In my 30s I thoughts there was enough time, so I continued chasing the dream.Then my 40s hit me and I felt robbed by time. The dream I was busy chasing robbed me of years for me-time. So I made it but my perception of the dream was a misperception.Too late to turn around now. I guess I have to make it work. Am I too old to hope?

Hope is not defined by age, it’s determined by events, that can be positive or negative,traumatised or motivated. Is there anything I feel to old to do, yes and no. Yes, I am to old for childish games às I find myself time is valuable. No my soul is 16, 21, 30s, 40s as all those years teached me, about me. It does however require me to put more effort in some situations. If I feel to heavy, eat less or eat healthier.If I feel stiff I work out a bit more.I I feel drained rest a little bit. It’s called life, something I only learned in my 40s.

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Death versus tragic event

Posted on by Biznezz Hub Consultancy in Growth Mindset, life, Uncategorized

How does death change your perspective?

Death is the loss of life in this world we know or the transition to another realm which we don’t know. A tragic event is an unforseen situation which leaves you doing introspection and reflection to what you could have done better to prevent a tragic event.

Perspective is how you see or view something, and that inturn give rise to how you would act towards that specific situation in this case death.

Death to me dependant on the situation or how that individual lived their live brings forth a message of mercy or lesson learned.How a person died also convey a message to me of courage, mercy or ” you live by the knife, you die by the knife”

I guess my perspective towards death are influenced by the tragic event or situation of which death arose from. It could be an illness, violence, ignorance, act of courage ect., and so much more, that influence my perspective regarding death.

What is this thing called computer?

Posted on by Biznezz Hub Consultancy in Business management, Digital Marketing, Growth Mindset, Technology

Write about your first computer.

The first time I physically was introduced to a computer was, wait 1999. Four years after the first democratic election in South Africa. Being a woman of color in a country with a history of race discrimination named apartheid.

There I was first year in a college, with privilege kids, who probably was years ahead with technology.

I can recall walking into the computer class, feeling, scared, humiliated and intimidated. So afraid that my class mates would see, I don’t know how a computer works. So I sat at a desk obviously accompanied with a computer.I looked and stared at the computer in an unnoticeable way. Hoping the computer might somehow give me a clue of what it was.

Then somehow it waved a hint to me this round like flat knob at the bottom should be pressed to get me started. I sighed a relieve, got this thing started let’s see if it will give me some more hints. The lecturer noticed in what I thought was unnoticeable “I don’t know” behavior and asked me to come around to her class afterwards if I am interested to get some beginner computer basics training.

That was my first experience of and with a computer. If I were to tell the new age generation, I was 19 when I first saw a computer, they will probably think I am exaggerating a bit. In my defense the whole first time computer experience, to me at that time and thinking back still felt like this huge transformational bridge that I had to walk over, not look down to see the height, which will instigate only fear and visualize that the other side of the scary wobbly brigde is this new world with beautiful and wonder experiences, just waiting to be unraveled.

Newsletter: Vol.5 February 2023

Posted on by Biznezz Hub Consultancy in Accounting, Bookkkeeping, Business management, Growth Mindset

WHY IGNORING THE “ELEPHANT IN THE ROOM” BOOKKEEPING CAN BE DETRIMENTAL TO YOUR BUSINESS

Introduction

Bookkeeping is often seen as a tedious and time-consuming task that small businesses can avoid. However, this is a dangerous mindset to have. Ignoring your bookkeeping can be detrimental for several reasons and can lead to problems with managing your expenses and allocating your revenue. This can cause cash flow issues and make it difficult to budget or forecast accurately. Additionally, it can be difficult to track or manage money owed by customers, leading to issues with collections.

Maybe, working from memory alone might seem doable until a few clients owing you money are forgotten. Bookkeepers can help small businesses overcome these challenges. These services are typically cost-effective and efficient and can help businesses save time and money. Automated processes, such as bank reconciliation and expense management, can help businesses stay on top of their finances and make the bookkeeping process easier.

If you’re unsure about whether or not you need a bookkeeping service, consider the many ways in which it can be helpful. It can provide you with valuable insights into your business’s finances, and help you make more strategic decisions.

Ignoring The “elephant in the room” can be detrimental to your business

When it comes to bookkeeping, too many small business owners fail to realize the importance of keeping accurate records and managing the finances of their company. They try to avoid the “elephant in the room” and hope everything works out. Unfortunately, this is a dangerous mindset to have and can be detrimental to the success of the business. When bookkeeping is ignored, it often becomes difficult to keep track of expenses, allocate money appropriately, and ensure timely payments of money owed by customers. This can lead to cash flow issues, inaccurate budgeting and forecasting, and a negative impact on your bottom line. Additionally, not keeping up with your accounts can also present potential issues with the “tax man” and other governmental regulators. Ignoring your finances can be costly and can result in large fines and penalties from these agencies.

What Exactly is the “Elephant in the Room”?

The “elephant in the room” is a metaphor for an uncomfortable situation or topic that people avoid discussing. It is often used to describe awkward conversations and issues that are too difficult or embarrassing to address. In this case, the metaphorical “elephant in the room” could refer to the topic of bookkeeping and how important it is for the success of a small business. This is the issue that many small business owners ignore or fail to address, leading to potential problems with their finances.

Why Many Small Business Owners Avoid the Topic

Many small business owners fail to see the importance of bookkeeping or view it as a chore. They may want to focus on the business itself or concentrate on other aspects of the business. Additionally, some business owners may not have the money to hire a bookkeeper to help them manage their finances. Bookkeeping can be a daunting and time-consuming task, and some business owners may not have the skills or knowledge to do it themselves. This can lead them to simply ignore the topic, thinking that it is not necessary or that it will not cause any major issues.

What Happens When You Ignore The “Elephant in the Room”

One of the biggest problems with ignoring the “elephant in the room” is that it can lead to cash flow problems. When bookkeeping is neglected, it can be difficult to track expenses and allocate funds appropriately. This can make it difficult to pay bills and manage money owed by customers. In addition, failing to keep track of your finances can also cause inaccurate budgeting and forecasting. Without accurate records of income and expenses, it can be difficult to accurately forecast sales and expenses or to budget for future projects.

Facing The “Elephant in the Room” Head On

Fortunately, there are several methods to address the “elephant in the room” and help small business owners manage their finances. There are a variety of bookkeeping services that are cost-effective and efficient. These services can help businesses stay on top of their finances, track expenses, and manage money owed by customers. In addition, automation and technology can help to make the bookkeeping process easier. Bank reconciliation is a great example of this. By automating reconciliation, businesses can save time and reduce the amount of manual work that needs to be done.

Dealing With The “Elephant in the Room” In a Positive Way

The key to managing the “elephant in the room” is to face it head-on. There are several ways to verify and enlist the help of a trusted bookkeeper or bookkeeping service to help manage your finances. This is a cost-effective and efficient way to ensure that your bookkeeping is accurate and up-to-date. In addition, you should take the time to properly assess your bookkeeping needs. Talk to your bookkeeper about what your needs are, and look for ways to streamline the process. Automation can greatly reduce the amount of time and effort you need to put into bookkeeping. Finally, don’t be afraid to ask for advice. If you’re not sure how to handle something, talk to a trusted adviser or bookkeeper. They can provide valuable insights and guidance.

Conclusion

Bookkeeping is an essential part of managing a successful small business. Ignoring the “elephant in the room” can be detrimental to your business success, leading to inaccurate budgeting and forecasting and cash flow problems as mentioned above. Fortunately, there are many cost-effective and efficient solutions available to help small business owners manage their finances.

We at Biznezz Hub Consultancy provide Bookkeeping, Accounting and business management services tailored to our client’s needs. This means we can offer more affordable and easily accessible bookkeeping services, which will add value to your business’s success.

Do pop us an email to enquire about our service or obtain your first consultation for free.

Photo by Andrea Piacquadio on Pexels.com

Does the saying “I don’t need a bookkeeper, I know all my customers and who owes me from memory” sound familiar?

Posted on by Biznezz Hub Consultancy in Accounting, Bookkkeeping, Business management, Growth Mindset, Small Business

Does the saying ” I don’t need a bookkeeper; I know all my customers and who owes me from memory” sound familiar? Yeah, right unless you’re Superman.

Month in and out you struggle, you make a lot of sales, oh so you thought because the numbers do not add up, plus there is your vendors or suppliers or partners, and they surely keep book on what you owe them, but hey you work from memory and don’t need a bookkeeper.

Then there is your stock or inventory, that you thought you’re getting at a good price for the quality, but it turned out, your profit margin is too low, and does not include deliveries and no insurance on it not to forget you have not increased your prices in a while, during various of economic changes, such as increase in inflation, increase in petrol or gas just to name a few. All this is happening yet you don’t need a bookkeeper, you work from memory.

Every month, you wonder what I am missing? What am I doing wrong? I thought we had a good month? According to your memory all your customers paid you? I mean who is going to call you and say “you forgot to come and fetch your money for goods sold or services rendered” Everyone is looking for a freebie. Do freebies exist?

Photo by RODNAE Productions on Pexels.com

Then there are the consumer trends that are changing at a rapid rate and you are still old school, bold move. The world is running on technology like an oiled machine but you feel what worked five years ago will still work in an ever-changing, high demand, competitive environment. No wonder you feel like Superman.

Now let’s get back to the bookkeeping part of your business. You don’t need a separate bank account for your business, because you know from memory what money relates to your business and what is personal money. Then you spend money that you don’t have because you thought you had a good month, lots of sales and many of your customers promised by word of mouth they will pay you at the end of the month. Some did request an invoice but you said don’t worry I got a good memory I know who owes me will not forget. Yeah, right unless you’re Superman.

We at Biznezz Hub Consultancy provide bookkeeping, accounting and business management services. We understand the needs of small business, that is why we provide easily accessible bookkeeping, accounting and business management services. We tailor our services to each client’s small business needs. Watch out for your Vol5 Newsletter coming in February 2023

You can contact us on our social media pages or carmenarnols9@gmail.com or sales@biznezzhub.com.