Bookkeeping MUSTS for Small Businesses

January 28, 2020

Since the beginning of launching my business, I have always been hesitant to spend any money on business services for my business, as I’m always trying to learn and do every part of my business myself. But as someone who has never taken a financial course in their life, trying to teach myself how to manage my business finances in the most stress-free and cost-effective manner has been extremely challenging.

So when I heard the rad people at SOURCED. talking about Bench Co. and their free one month trial - I was excited to give it a try.

If there is one place to invest more money into my business, I decided that the finances, and specifically bookkeeping would be a great place to start.

What is Bench?

Bench Co. is online bookkeeping powered by real humans.

What they help with the most is tracking and categorizing your business income and expenses, and presenting these numbers via financial charts and reports that are easy for even a financial illiterate like myself to comprehend.

My favorite part of Bench though has been having a dedicated professional bookkeeper for my business, that I have used as a mentor to give me guidance on straightening out the basic set-up of all my finances.

Free one month trial! How does it work?

From the first step of the free trial, to the final sign-on, what I loved about Bench was their thoroughness and easy onboarding process. To get started, Bench sets up a phone call with you and a member of their team to walk step by step through the items they need you to submit to set-up your account. They’ll then review what you can expect from the platform and what resources are available to you as a Bench member.

By walking through the process step by step with a Bench representatives, the onboarding process took less than 30 minutes to complete.

As someone who still has a lot to learn about some general business finances, I appreciated having someone to ask questions to directly and to offer me professional guidance on everything from how I can better separate my accounts to what kind of expenses can be tax deductible.

Even outside of scheduled calls with the Bench team, your bench account includes a messaging platform to chat or ask random questions with anyone from the Bench team at any time! Their response time is within 1 day, and it’s a real person you are messaging - not a chat bot.

After setting up your Bench account, you’re given a dedicated bookkeeper who is not only a financial mentor for you at any time, but also through your account portal will:

1) Track all your business transactions & categorize them by business meals, merchant fees, software & web hosting expenses...etc.

2) Collect & store all your receipts, statements, payroll reports, and any other documents relating to your business activities

3) Send you monthly financial reports and easy to read graphs & balance sheets to evaluate your business income vs. expenses, spending habits and more

4) Create a year-end financial package to make it easy when it’s time to file your taxes

Ok...but what’s the price?
Bench’s affordable pricing is what makes it perfect for small businesses. For a starter package of less than $120 a month, having all of these services in one dedicated bookkeeping service, as well as the financial mentorship available at anytime, has been more than worth it.

In addition to getting my bookkeeping records in order, working with Bench these last couple months has been a huge eye opener for me to improve my general financial structure.

My biggest takeaway -
Separate your personal and business expenses! The easiest way is creating separate accounts, or a dedicated credit card for business related purchases only.

Free Trail for Bench Co.

—————————————————————————————

Written by Nicole Prybula.

Nicole is a Corporate Event Producer that loves turning a standard business meeting into an impactful brand experience that attendees fall in love with. If Nicole isn't soaking up inspiration working with her co-workers at Sourced, it's because she's traveling and working from a cafe on the other side of the world. Find her online at www.cultivatedexperiences.com and follow her adventures on Instagram at @cultivatedexperiences

5 Ways to Elevate Your Business on Instagram: What’s Working NOW

December 4, 2019

The ‘gram. Do we all have a love/hate relationship with this thing or what? It’s almost 2020 and the truth is, for better or for worse, Instagram is still THE best way to gain traction in your business (*cough* especially if you offer remote services or you sell anything online *cough*). Pretty much everyone is hanging out on the platform including your potential clients and customers, so you should be doing the same.

Has the platform changed? Yes.

But can you still see amazing results for your business? You absolutely can.

As someone who has been able to roll with the punches to keep my (mostly Instagram based) art business growing, I can tell you that there is tons of potential left in this platform.

But knowing how to use it to your business’s advantage is KEY.

Here are my best five tips for success on Instagram going into the New Year.

It’s about quality, not quantity

Stop worrying about growth. Seriously.
Your success is equivalent to your engagement rate, NOT to how many followers you have.

Here’s the thing: engagement comes from those who are ALREADY following you.

The better you can serve those who are already sitting at the table, the better your business will do (hello, conversions) AND the more your account will organically grow due to your high engagement rate (engagement = more visibility on the discover page and within hashtags).

Get to know your community so you can best serve them. Who’s already in your fan club? What drew them to your page? Why do they stick around?

If you don’t know the answers to these questions-- ask! The polls and questions you can run in your stories are a great way to do this.

Another way to strengthen the relationship with your current following is to show that you care by thoughtfully responding to comments and DM’s. This is also how you can get to know them even better.

*Fun fact: Almost 50% of my clients and customers are people who have been in my DM’s at one point or another.

2. Provide Value

This is an expansion on tip #1, but these days it’s all about QUALITY content.

The days of posting once or twice a day as your best strategy are over. In fact, a large quantity of posts that aren’t properly engaged with can work against you, knocking your posts down in the algorithm.

Quality = the level value it provides to your followers.

Even though Instagram can be a fun place to show off your fancy meals and favorite cat (guilty), you should aim to keep at least 80% of your content high value.

To get an idea of what valuable content is made of, think about who YOU follow and the value you get from the posts of your favorite accounts.

Before sharing something, ask yourself, “What am I hoping that my ideal client will get out of seeing this?”

It might be something simple like, “Joy from the beauty of this photo,” or, “A laugh.” Or it might run a bit deeper like education on a certain topic.

No matter how simple or nuanced the value though, it should always tie back to the value of YOU and YOUR SERVICE in some way.

‘Cause we’re here for business, remember?

*Pro tip: Pay attention to what gets the best engagement via your analytics and then double down on that type of content.

3. Create Shareable Content

If you ARE looking for growth (aka more new followers to your page) one of the best tactics is creating shareable content. Sorry to say, but hashtags alone just aren’t going to cut it anymore.

This is why meme accounts can blow up overnight and why therapists with deeply resonate quotes are having their hay day on the platform: their content is easily shared.

People typically share things that they identify with, want to be associated with, deeply resonate with, that was helpful to them, or that made them laugh.

If you’re funny, lean into that.

If that’s unnatural for you or not your brand, sharing from the heart, calling out a truth or something a little taboo, or writing something that solves a problem can get a ton of traction.

4. Engaging Stories

Stories are a fabulous way to connect with your following, but their visibility also runs on an algorithm.

A great way to spark engagement is to encourage DM’s, and use the stickers like polls, questions and the emoji slider.

Similar to monitoring which of your posts get the most engagement, you can look in your archive to see which stories had the most views. This is an indicator of which stories got bumped up in the alorigithm due their popularity with your following. Again, double down on that kind of content!

5. Emphasize what makes you and your business different

While you may have heard the advice “be yourself” a few times before, this is actually really important in a time when everyone and their mom is trying to run an online business.

If you find yourself trying to make your posts more generic or vanilla for fear of being disliked, or wanting to be liked by everyone...don’t.

You’ll have much more success if you connect with a specific group of people, so start looking for what sets you apart.

Are you multi-passionate?

Is your background slightly different than others in your field?

What perspective are you bringing to the table that might be even just the tiniest bit different than your competitors?

What, from outside of your field of expertise, do you bring to the mix?

These are answers worth fleshing out. Once you land on a couple things, find ways to work it into your brand and into your content!

I hope you enjoyed these tips! Tons of businesses are making their debut with great results on this platform every, single day. If they can do it, so can you. I promise.

----

Written by Devon Walz. In addition to being a content creator for Sourced, Devon is mixed media fine artist and art educator. When she isn’t dreaming up new topics for the Sourced blog or chatting away with her co-workers, you can probably find her covered in paint and jamming out in her Santa Ana art studio. Find her on Instagram @devonwalzart and online at www.devonwalz.com.

How to Prioritize Your Creativity as an Entrepreneur

December 4, 2019

When you run a creative business (or any business for that matter) AND you’re a creative with your own projects and goals, carving out time your own creative time can be tricky.

As an artist who runs a business teaching online art courses and running mentorships, I’ve seen first hand how the lines can get REAL blurry between work and art. If I’m not intentional, my art will end up taking a backseat all too quick (which, in turn, makes me very, very sad).

Can you relate?

Maybe you run an ecommerce business, but your passion is music and you REALLY want to get more gigs next year. Or maybe your a graphic designer who does tons of client work, but you really want to make traction on that personal project of yours. Or even develop your own body of work.

Even though it can be challenging to get time in with your passion projects, you CAN’T let your personal creative work fall to the wayside (because psst...that’s how souls die).

Here are the three best ways that I’ve found to ensure your creative work (and spirit!) thrives as much as much as your business does.

Do the Most Creative + Personally Rewarding Thing FIRST

Your art is your gold and it should be treated as such. Believe me, I understand how biz and freelancing tasks can feel like the urgent priority. But the problem is when you’re in business for yourself there is ALWAYS, and I mean always, more to do. If we wait until we get to the end of the list to start our own creative work we will never get there.

AND: your own creative work deserves the MOST of your fresh creative juices. If you spend it all on that client project beforehand, you won’t have much left for yourself. You can likely rely on pre-made systems and structures when it comes to your business. It doesn’t need as much of that pure inspiration as your art does.

So, if you’re on a mission to get your own time in it should be the first thing you do. Whether that means the first thing in your day, your week or your month.

2. The Power of Small Commitments

Pencil that creative time RIGHT into your calendar. Commit to it like you would any other task. Set goals. Doable goals that you’ll show up for.

You can set out to have something completed by a certain date, or simply set a goal for the amount of time you’d like to show up for it.

I personally like to commit to a certain number of studio days each week. Once it’s in my calendar, nothing can touch that blocked out time.

If my schedule is too full for that I pencil in 30 minutes of sketching first thing in the morning. Or even 10 minutes if I feel like that’s all I can manage.

The tiniest bit is infinitely better than nothing.

3. Compartmentalize with Rituals

Remember those blurry lines I was talking about? It’s important that you have a way to set apart your own creative work from your business.

The truth is you want to bring a different kind of energy to your art than you would to your biz. Instead of deadlines and to-do’s you want to be heart-centered and inspired.

The best way to fully switch gears is with a ritual-- a change in your routine or scenery to let your brain know that you’re entering your own sacred creative container.

You could physically change locations, make yourself a cup of tea, go for a walk first, change your clothes or clean up your space. Whatever it is it should be something you do every time.

Not only is this another way you get to make your creative time fun, but it will help you shut off the entrepreneur side of yourself just for that period of time when you want to be totally creatively immersed.

I hope these tips inspire you to close the laptop from time to time and give your creative heart the playtime it deserves. You owe it to yourself and to your art. Now go get MAKING.

---

Self-Help Books That Won't Make Your Eyes Roll: The Co-Worker's List

September 11, 2019

Self-Help Books That Won’t Make Your Eyes Roll: The Co-Worker’s List

Confession: I’m a self-help junkie. When I was growing up my Dad would make us listen to “Think and Grow Rich,” on cassette tape in the car, gift all four children his annual book of choice at Christmas, and frame excerpts from “The 7 Habits of Highly Effective People” and put them around the house.

I rolled my eyes at the time, but--what can I say--his thirst for being the best “you” you can be rubbed off on me.

There’s been many times in my life when the right self-help book shifted me out of a funk, or given me the exact inspiration I needed to go after what I wanted (in relationships, business, personal healing and beyond).

While there’s so many great books out there, what I’ve learned is that it’s really about picking up the right book at the right time. And with the overabundance of preachy texts lurking the shelves, it can be hard to tell what’s total BS and what’s filled with motivational gold that was meant for you.

Fear not my growth-hungry friend! I’ve compiled a list of the co-worker’s favorite here at Sourced. On this list you’ll find something for all personality types, reading styles and self-help needing moments in life.

SOURCED. community library (and many oracle decks)

1) “Journey To the Heart” by Melody Bettie

Recommended by Heidi Dametz. Designer and Co-founder at Aha Crafted Jewelry.

“This is a daily meditation book. The passages are dated for a full year and they are just under a page long. I try to read it daily. I’ve had it for 6 years. She has a way of putting a thought or idea that I think most people struggle with and offers a soft/gentle way for your mind and soul to embrace it.”

2) "Thinking with Type" by Ellen Lupton

Recommended by Jaclyn Florescio. Illustrator and graphic artist.

“When I need guidance about typography or graphic design, this is my go-to book. "It's not a book about fonts, it's about how to use them." It provides examples, explanations and exercises that have helped me tremendously.”

3) “The Untethered Soul” by Michael A. Singer” and 4) “Notes to Myself” by Hugh Prather

Recommended by Makenna Zur Schmiede. Actress and Yoga Instructor at Bala Shala Yoga.

“Rather than notating, I recommend with these books coming back to them every once in a while. Letting each new version of you get excited and inspired all over again.”

5) “The Alchemist” by Paulo Coelho

Recommended by Gianfranco Pagliara. Remote Sales Manager at Direct Med.

“This book taught me that there is a world out there to be explored and to break past the status quo. Sometimes you have to take a risk (which is how I’m now out here in Cali!)”

6) “White Hot Truth” by Danielle Laporte

Recommended by Devon Walz (yours truly!). Artist and Creative Mentor.

“This is spirituality and self-help for those who are sick of the BS being floated around in spirituality and self-help. Danielle goes into all topics that are medicine for the heart, while calling out what’s been toxifying the self-help world. I recommend it for anyone who wants to reconnect with truth, with themselves and with the divine in a refreshingly real way.

I recommend one quick read to soak it all in and then returning with a highlighter to capture the gems.”

7) “You Are a Badass” by Jenn Scincero

Recommended by Sharael Kolberg. Web Developer and Travel Writer.

All the personal development fundamentals with a no-bs, ass-kicking twist. Jenn’s writing style will ensure you keep the pages turning and her wisdom is on point. A great read for when you need that real deal pep talk!