Tips for the solopreneur

1. A Mom
Entrepreneur
Mini Master
Class
Financial Fundamentals

2. A Mom Entrepreneur
About us:
Real Moms, Real Business
A Mom Entrepreneur is an online resource and
gathering place for women who want to do it all. Be a
great mom, business owner, partner, friend, sibling,
daughter….the list can go on infinitely.
We do it because we can but it’s not easy. Connecting
with like minded women can give us the strength and
support when we most need it.
A Mom Entrepreneur is THAT place! Keeping It Real!
www.amomentrepreneur.com

3. A Mom Entrepreneur
About me:
I’ve done many things in my lifetime from cosmetology
to real estate, from retail to academics, and being self
employed.
I haven’t always been successful but I have learned a
lot of what NOT to do.
I am passionate about controlling my own destiny and
LOVE helping others do the same.
www.amomentrepreneur.com

4. A Mom Entrepreneur
Money is better than poverty, if only for
financial reasons.
Woody Allen
www.amomentrepreneur.com

5. A Mom Entrepreneur
$$$$$
We all need it to live and we already know
that financial issues are the leading cause of
divorce.
www.amomentrepreneur.com

6. A Mom Entrepreneur
Being a ‘trep (entrepreneur) means you
won’t necessarily be getting that Friday
direct deposit in your bank account.
Can you handle that?
www.amomentrepreneur.com

7. A Mom Entrepreneur
Finances are like weight loss.
Calories in/calories out.
Money in/money out.
www.amomentrepreneur.com

8. A Mom Entrepreneur
Do I quit my day job?
www.amomentrepreneur.com

9. A Mom Entrepreneur
The financial part of your business plan.
Where to start when you’re not an
accountant.
www.amomentrepreneur.com

10. A Mom Entrepreneur
The basics. Money isn’t something any of us
like to think about. Especially, when it’s
about needing money.
www.amomentrepreneur.com

11. A Mom Entrepreneur
Many of us are not financially savvy and
while I would say just for your own personal
reasons if you don’t know about money you
should learn but if you want to start a
business you REALLY need to learn.
www.amomentrepreneur.com

12. A Mom Entrepreneur
When a business fails it’s usually because
they no longer have the money to keep the
doors open.
www.amomentrepreneur.com

13. A Mom Entrepreneur
Two of the top reasons businesses fail are:
1.
2.
Not having a business plan.
Inadequate capital, poor cost
control, misuse of capital.
www.amomentrepreneur.com

14. A Mom Entrepreneur
We addressed the importance of having a
business plan a few weeks ago so hopefully
you are working on that.
www.amomentrepreneur.com

15. A Mom Entrepreneur
Part of a business plan is having a a solid
financial plan in place. That starts with a
budget.
www.amomentrepreneur.com

16. A Mom Entrepreneur
You generally have to types of costs:
Fixed and variable.
www.amomentrepreneur.com

17. A Mom Entrepreneur
You want to make sure not to forget any
potential expenses and if you need to draw
a paycheck then you need to put that
amount in the budget as well. To do so you
will want to have a good personal budget.
www.amomentrepreneur.com

18. A Mom Entrepreneur
Once you have that solid budget in place
you will look at your product/service part of
your business plan. This is where you will
need to make sure your pricing and
potential sales will at least meet, if not
exceed, your expenses.
www.amomentrepreneur.com

19. A Mom Entrepreneur
The scary part is you MUST sell what you put
down on paper you’re going to sell to meet
your budget. Or have the capital to fund
your business in those times you aren’t
meeting your sales goal.
www.amomentrepreneur.com

20. A Mom Entrepreneur
Staying on top of your finances and
understanding them is key. While it may be
more fun temporarily to live in denial it won’t
help in the long run.
www.amomentrepreneur.com

21. A Mom Entrepreneur
Using financial software such as Quickbooks
can help with this task.
www.amomentrepreneur.com

22. A Mom Entrepreneur
Make sure to get in a routine of weekly bill
paying, bill checking, and invoicing.
ALWAYS know where your money is.
www.amomentrepreneur.com

23. A Mom Entrepreneur
While you put together the list of expense
you may start to panic. Don’t.
One thing entrepreneurs are usually good at
is figuring out how to leverage resources.
www.amomentrepreneur.com

24. A Mom Entrepreneur
Start Up Funding – Seed Money
www.amomentrepreneur.com

25. A Mom Entrepreneur
How to start a business with little (or no)
funding.
Boot Strapping – the self sustaining process
with no external help.
www.amomentrepreneur.com

26. A Mom Entrepreneur
Keeping costs low. Be creative but also
know sometimes you need to spend money.
www.amomentrepreneur.com

27. A Mom Entrepreneur
Bargaining and bartering.
www.amomentrepreneur.com

28. A Mom Entrepreneur
Set goals 1 month, 3 months, 6 months, and
a year out. Assess where you are to those
financial goals weekly.
www.amomentrepreneur.com

29. A Mom Entrepreneur
Holding yourself accountable. Find an
accountability partner or group.
www.amomentrepreneur.com

30. A Mom Entrepreneur
Questions?
www.amomentrepreneur.com

31. Start/Rev Your Business
Oct. 21st Time Management 10am-11am EST with 30 min Q
& A after.
Oct. 28th Networking: Online & Face2Face 10am-11am EST
with 30 min Q & A after.
www.amomentrepreneur.com

32. Thank You!
You can reach me at laina@lainaturner.com
Twitter @lturnermolaski
Facebook
https://www.facebook.com/pages/AMomEntre
preneur/186136878119800
And please join our group on
http://www.amomentrepreneur.com/forums/for
um/lets-talk/
www.amomentrepreneur.com

33. Start/Rev Your Business
Questions?
www.amomentrepreneur.com