The Collection

THOUGHTS, MUSINGS, INSPIRATION + TIPS

018: Lack Of Focus Is The Silent Income Killer

Transcript coming soon

It is so easy to get distracted in our business, but did you know that having a lack of focus could actually be costing you more than you think.

In this episode Chichi shares about how to overcome a lack of focus and get back on track with your goals

Links mentioned in this episode:

Your daily 5- http://chichie.co/yourdaily5

 

CEO Mastery- 018 Lack of focus is the silent income killer

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

How to avoid financial mess in your business

Just got off the phone with my accountant.

The importance of being close to your numbers is so important.

This is not an area of strength for me but is something I am working hard to become better at.

For years I have battled with personal debt, constant overspending and mismanagement and I realised that to be successful I need to take responsibility and get a better handle on it. Which is why it has been a big goal of mine since last summer, when I knew I wanted to leave my 9-5.

It becomes even more important when you business becomes your sole source of income.

It’s all good to focus on sales, but if you neglect cashflow, tax and profit you can very nearly destroy your business.

Trust me when I say this. I speak from experience.

Things we discussed:
– income goals
– VAT registration (yes it is coming this summer)
– planning my launches and pricing to align with goals
– making sure I know my tax numbers and I am planning for them
– how I invoice and making sure I am using the right tools
– bookkeeping because I realise it is time to take this off my hands

MISTAKES THAT I HAVE MADE, THAT YOU DON’T HAVE TO

CEO Money Mastery

1. Not tracking my numbers and keeping poor records

I now use Quickbooks which is synced to my bank account and paypal so all my transactions are logged and reconciled. No more guessing or wondering. You can keep things simple and use a spreadsheet or pen and paper. The main thing is to keep good records.

2. Not putting money aside for tax

I now have a separate savings account for tax savings and soon to be VAT. Nothing worse than scrambling around to find money to pay the tax man. It is the WORST. Get prepared and plan for it.

3. Not keeping track of expenses and spending in my business without checking the business could actually afford it.

I regularly review what I am spending in my business and cancel subscriptions and payments I no longer need or use. Check this quarterly for yourself. Paypal automatic payments are the worst. Go in and cancel those bad boys.

4. Focusing on revenue (which is important) rather than profitability (key).

Everyone likes to shout about revenue, but for me I have learn that is only one half of the occasion. You can be earning all this morning and spending it all thus leaving you broke and with no profit.

For an online business especially the goal of profit should a priority as our overheads are non-existent.

After all is said and done – what is your profit?

5. Not realising the importance of cashflow

Cash is king, so being able to project and know what is coming in and out of your business to see if you have enough to pay for things is key. I learnt the hard way and so now I make cashflow a priority.

6. Burying my head in the sand rather than seek help

This is the worst. Shame, embarrassment are all things that you feel when you are dealing with financial issues. But the worst thing you can do is hide away. Silence is a killer and you can’t get help if people don’t know what is going on. So be brave, reach out, tell people what is going on, you will be surprised at the positive response you get.

7. Continue to work on my money mindset.

Reading books (Get Rich Lucky Bitch, Overcoming Underearning, Profit First are my faves), practicing gratitude and having an abundance mindset.

So over to you.

Do you know your numbers?

Published in The Guardian talking Boundaries in Business

This week I was super thrilled to have my first article published in the Guardian newspaper, where I am discussing how to set boundaries for your business.

I like helping people. The vast majority of entrepreneurs do. As a coach and strategist I spend my days troubleshooting with clients, mapping out strategies and giving advice and support. I also have a web design business.

At the beginning of my entrepreneurial journey in 2012, I was overly excited. I said yes to all kind of projects, even ones I didn’t really enjoy but that paid an income. I worked all the time, worked with anyone, never took any time out and struggled to recharge properly. Needless to say juggling this with a full-time job, a young family and a partner often working away, I didn’t last long. This went on for close to a year, until I had to take a six-week hiatus while I regrouped.

Read the rest of the article over in The Guardian.

017: 5 Reasons You’re Not Getting The Results You Want

Download Transcript

Half the year is gone and in this episode Chichi shares with you what to do when you’re working in your business and not seeing the results you want or expect.

How to do a half year reset and get back on track, so that you can end the year with a bang.

Links mentioned in this episode:
www.chichieruchalu.com/vip-group-intensive/
www.chichieruchalu.com/inner-circle/

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

016: How To Create Consistent Income Months In Your Business

Download Transcript

The ability to create consistent income in your business is every entrepreneurs dream. Without it you face a life of stress, frustration and general

In todays episode I share why having consistent income is so important for your business, the 4 reasons why you are not generating consistent income in your business and how to start creating it.

To continue the conversation head over to my free Facebook community www.ceomasterygroup.com

CEO Mastery Podcast - Ep 16 - How to create consistent income months in your business

Links mentioned in this episode:

Continue the conversation over in my free Facebook Community – www.ceomasterygroup.com

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

015: Boundaries in Business and why you need them

Download Transcript

Strong boundaries set the expectations and allow for a much happier experience all around as people know where they stand. But where do you start, when it comes to setting them in your business?

In this episode Chichi shares how to identify the areas where you need better boundaries and how to go about setting them up.

To continue the conversation head over to my free Facebook community www.ceomasterygroup.com

CEO Mastery Podcast - 015 - Boundaries in Business

Links mentioned in this episode:

Continue the conversation over in my free Facebook Community – www.ceomasterygroup.com

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

014: Why Self Employment Is The Path to Freedom

Download the Transcript.

In celebration of National Freelancer Day on the 8th June, in this episode I talk about why I believe that running your own business and being self employed is the true path to freedom.

National Freelancer Day is hosted by IPSE, who are the Association of Independent Professionals and the Self-Employed. They are the voice of independent professionals in the UK and they make sure freelancers, interim managers, consultants and contractors are represented to Government.

IPSE also host the annual Freelancer of the Year awards for which I was this year’s runner up in the Inspire Category.

Winning my award with IPSE Chairman James Collings and Comedian & Host Ellie Taylor

I have always loved business but growing up academics always came first, so I went to university and got my degree. I even got myself a graduate job even though I knew deep down I wanted to work for myself.

Today with more and more young people opting OUT of university, the opportunities are endless when it comes to forging your own path.

In this episode I share my top reasons for choosing the freelancer way of life and how it it supports my family, fulfils my mission and helps me to empower more women to do the same.

Freelancer of the year award - Chichi Eruchalu

CEO Mastery Podcast - Why Self Employment is the path to freedom

Links mentioned in this episode:

IPSE – https://www.ipse.co.uk/

Continue the conversation over in my free Facebook Community – www.ceomasterygroup.com

Podcast Details:

Listen to the episode via Stitcher Radio: 014: Why Self Employment is the path to freedom

Thanks for Listening!

 

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

013: 3 Ways to Get Your Business Noticed When You Have A Small Budget

The biggest thing I hear when I talk to small business owners is “how I can effectively market or grow my business when I don’t have a big budget, there is not a lot I can do!”

I disagree!

There is A LOT you can do and in this episode I share with you three low cost ways you can get started with today. 

Want the full 15 strategies – download my free guide.

CEO MASTERY- EP 13- 3 Ways to Get Your Business Noticed When You Have A Small Budget

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

011: How To Create Influence With Impact With Holly MacCue

It’s all too easy to show up on social media and just add to the noise.

A few posts here and there.

Random musings.

No real substance.

No real value.

And then wonder why people don’t connect.

In order to really stand out, in order to make an impact and influence your clients you need to show up with a strong, clear message.

You need to speak their language.

And hear their words, the spoken and unspoken ones.

Messaging and speaking a language that your client understands can be a challenge. But it doesn’t have to be.

In this episode I chat with Holly MacCue, Success and Career Coach about how to Impact with Influence so that you can attract your ideal clients with ease. Understanding communication styles and how to refine your message so that the right people connect and you can deliver value every time.

CEO Mastery- EP11- How to create Influence with impact with Holly MacCue

Thanks for Listening!

To share your thoughts:

To help out the show:

  • Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
  • Subscribe on iTunes or Stitcher Radio.

JOIN THE COLLECTIVE

Categories

Check out the podcast

CEO Mastery Podcast with Chichi