10: Become Financially Savvy with Erin Johnstone
After working in government, private industry and public accounting, Erin Johnstone took the entrepreneurial leap and started her own accounting firm, Vivid Numbers. She doesn’t take herself too seriously, revels in the details, loves to laugh and actually likes accounting!
To be financially savvy, consider the following 5 tasks….
- Business entity selection
- Smart bank accounts (separate personal and business accounts)
- Simple bookkeeping software
- Paperless filing system
- Government reporting.
Erin’s advice on finding a good accountant
- Interview more than one accountant
- Get referrals from people in your industry who really like their accountants – and ask for specifics
Her final advice to aspiring female entrepreneurs
- Set some money aside for profit and for paying yourself first
- Don’t outsource your responsibility for your business finances; to have a successful business as well as peace of mind, you must really understand your finances.
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