Stop the Leaks: Proactive Financial Strategies to Avoid Getting Nickel and Dimed in Business

The discussion begins with the challenge of escalating software and subscription costs. Kacey shares her experience transitioning from using free email platforms and cheap website builders (like Wix) in the early stages to facing thousands of dollars in annual fees as her organization expanded and required more collaborators. She emphasizes the importance of setting minimum revenue requirements for chapters and auditing financials to ensure the business remains profitable.

Nichole highlights the critical difference between having someone who merely does your taxes and a proactive financial advisor or accountant who knows how to structure your business (e.g., establishing an S-Corp) to leverage tax benefits and secure better rates on loans. They stress the need for due diligence, including:

• Reading books to understand financial structures.

• Constantly double-checking subscriptions and charges to catch errors or unwanted fees.

• Allocating time, even just 10 minutes a day, to actively learn about finances to protect your business.

The hosts debate the balance between bootstrapping (learning to do things like website building and photo editing yourself using free tools, YouTube, or ChatGPT) and outsourcing. Kacey champions outsourcing tasks that are beyond your technical skills or capacity (like website design via Upwork or Fiverr) because your time is valuable. Both agree that getting professional help is an investment that always pays off, especially with a good, ethical accountant.

Finally, Nichole and Kacey reinforce that business comes with "high highs and really rough moments" , and the key to navigating the lows is community and support. Talking with other business owners can save you money by revealing cheaper or free platform alternatives and better systems. They encourage listeners to use rough moments as an opportunity to look at their blind spots, get their business audited by professionals, or join networking events to facilitate growth and scale.

Connect with Visionary Blueprint:

Instagram: www.instagram.com/visionaryblueprintvip

👩‍💻 Need a better look at your business? Get our Business Audit for $97 to get a 20 minute overview of your business and how you can improve to make more money and connect with more clients/customers.

https://nicholeeaton.thrivecart.com/visionary-blueprint-audit/

Have a question or want to be a guest? Email us your topic or podcast pitch. If this episode helped you, share it and leave a 5-star review—it keeps the show going for our community of women building smart, resilient businesses.