Category Archives: Financial

How to Turn Your Expensive Hobby Into a Profitable Business

Develop A Money Management System Graphic

“It sounds to me like this is more of a hobby, when are you going to quit playing with this “business” and get a real job?”, said my clients husband.  

We all have things we love to do for fun, and that can certainly become a business. However, when others mistake your business for a hobby, it may be time to check your business and your mindset.  I know how hard it can be to have your entrepreneur dreams crushed by someone else, especially someone you love.   In my 17+ years of hands-on experience, education and failures, I’ve learned three major secrets to making a profitable business and developing a money making management system. Here is what you MUST start to do NOW, so you can prove to those around you that you have a profitable business, not an expensive hobby and so you can realize your full potential!

The 3 MAJOR Secrets: 

First, write a business plan and know your why!  (click that link to grab my free copy of a business plan checklist) Houses need plans. Money management systems need plans and businesses need plans, too. It’s the road map to success. Every wildly successful business has a business plan. Larger companies usually spend three to five years just developing the business plan.  I have seen some very influential people create six figures without a business plan, but they eventually get stuck. No one creates a 7+ figure-business without a business plan.

You want a plan that is based off of purpose, not just profits.  It’s not just about making money.  You are here for a purpose.  Knowing your why will help you stay purpose-driven on a daily basis so that you can push through the obstacles that come with life and doing business. Your WHY can help you navigate through the business plan while remaining flexible and you will be able to enjoy the journey more.  Life is a journey and so is your business!

Remember that even though you made a business plan, that foundation is not set in concrete. DON’T get so stuck on the plan that you cannot move or are unwilling to change.  Make your plan, work your plan, and be open to change your plan. Having a plan and knowing your why goes hand in hand.

Second, create a money management system. I’ve seen businesses lose thousands of dollars every single year because they didn’t have a money management system or they failed to understand the tax codes. Don’t let the IRS be a scary thing anymore.  Anything you fear will keep you from realizing the success you truly desire.   In my Start Smart Money Academy, I give you access to continual updates on tax codes in easy to learn lessons so that you are always informed, ready to handle the process and take advantage of all the money saving benefits. If you want to find hidden profits in your business, you HAVE to have a strategic money and tax system. Otherwise, money will be leaking out, guaranteed!

Third, and finally, clear the emotional clutter and create a healthy money mindset. In my Amazon best-selling book, Bankrupt to Six Figures, I share how I went from being a millionaire at age 25 to living on food stamps and having to file for bankruptcy by age 35. This all happened because of my negative thoughts and fears about money. I cried out to God one day, and He told me the money was not the problem, I was. My beliefs surrounding finances and money management were keeping me stuck in poverty.

The subconscious mind guides about 97% of what we do without us being aware. Any negative thoughts or fears about anything are most likely revealing themselves as results we don’t want. Take control of your fears around money so you can create more of it.

I want to help you succeed and help your business become more profitable, so that you can live the life God intended! Don’t let people mistake your business for a hobby because it’s not making money.   You have a God give purpose and dream to fulfill.  Get your purpose centered business plan finished because God desires you to be successful with the purpose He created you for!

If you need help creating a profitable business, so you can stop buying every online course, click here for my free webinar and click to learn more about enrolling in the Start Smart Money Academy.

Let’s get started on that business plan, so that you can finally have a profitable business and move towards financial freedom!

 

Love & Belief,

Snowe

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Tax Tip Tuesday

Did you know that you can write off the miles you drive for charitable purposes? Keep track of them!  Make sure you include the date, time, purpose and charitable organization.

 

Blessings & Belief,

Snowe-Signature

90% of Businesses fail because of THIS…

Statistics show that 90% of businesses fail because they do not have an accounting or money management plan. Most “business” owners do not even know if they are making a profit or what taxes they are liable for!

If you are a professional entrepreneur who has avoided putting these systems in place because of your lack of knowledge or fear, THEN the time is now to break free from procrastination & begin to master your business! Anything that we avoid or that is fear based always creates blocks. Negative energy spent wondering where your money is, how much you may owe in taxes or if you are even making a profit keeps you from moving forward & realizing your full potential in business. OR if you always file your taxes at the last minute or late, if you search for days or even weeks for records or if you do not know where your expenses & receipts are, you are wasting precious time knowing in the back of your mind you need to manage your money properly!

Take back your life & begin to create FREEDOM in your business by connecting with me TODAY for a free strategy session.

My Signature Programs are designed to empower entrepreneurs to create FREEDOM in their business so that they have more time with their families!

 

Blessings & Belief,

Snowe-Signature

Avoid unnecessary costs, penalties and liability!

When starting a business, make sure you know ALL the legal, tax & insurance requirements pertaining to your line of work.

Speak to an experienced business coach, mentor or someone who has already worked in that kind of business because it WILL save you money, penalties, liability AND precious time!

WISDOM is priceless.

And wisdom comes from those who have walked before you.

SEEK wisdom for your new business TODAY!

I'm Snowe, The Money Oracle. My Signature Programs are designed to empower YOU to CREATE, MANAGE & MULTIPLY money so that you can take your business and life to the next level!

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© Snowe Saxman 2016 | Website by Laura Knopp