Your Recording Keeping System

Your financial records are the voice of your success. Good records can do two things for you:

• Tell you whether or not you are achieving your goals step-by-step, by telling you whether your business activities are giving you a financial return on the time you invest in them.
• Keep you organized

Financial Files

Keep your financial files separate from the rest of your filing system. Keep your business files separate from your personal financial files.

Start with one "Business Financial" file and keep all financial paperwork in it as it comes in: bank statement, receipts, bills, etc. Make a date with yourself at least once a month to reconcile your bank records and track your business expenses. When the month is "closed", put it all in one envelope and label it for the month.

At the end of the year, you may want to file your receipts according to the types or categories of business expense but if you use an electronic system like Quicken, just make sure that for each entry you categorize your expenses. (This system works well for your personal finances, too, as long as you keep a separate folder and separate bank accounts.)

Banking

Set up a separate bank account for your business to keep your business finances separate from your personal finances. Look for a free checking account for small business with a debit card (if you like the convenience of a debit card). Keep your check register up to date.

If you will be using a credit card, apply for a separate business credit card and look for one that will send you a detailed categorized statement at the end of the year.

Taxes

If you need tax advice it is best to consult someone qualified in your state to help you. When you are just getting started, make sure to have a "My Business" folder and file some essential pieces of information:

• a business plan,
• some records related to using your car and mileage records,
• a marketing plan.

So, now you have two files, minimum: "My Business" and "Business Financial".

The Systems of Success

Whatever your learning style and working style, as you move forward with your business, you will need some systems to “keep track”.

Start now keeping track of:
1. Contact data for a) all the people you meet, b) new customers and c) new team members.
2. Mileage (and other tax deductible expenses).
3. Appointments (and use your appointment records to match up with your mileage records for tax purposes). Example: in my appointment book I note a coaching appointment with “Carole S.” and make a matching note in my mileage book in my car (small spiral bound book).

Start with simple systems and teach yourself new habits. It will make your life easier as you “mess it up” with all the new people you will be meeting and making relationships with as you grow your healthy, successful business.

Network Your Way to Success

Your business goal is to fill your business "pipeline" with never-ending referrals. The primary way you will do that is to make new relationships with people and stay in touch with them. A very important networking tip is this: It is more important to get someone else's contact information e.g. their business card than it is for you to give them yours.

And then what? Send a card or a postcard with a handwritten note (note written and card addressed in blue ink. Yep. Trust me, blue is it). For example, if you go to a meeting, meet someone new and get their card--go to your car and before driving home, address a card, add a note, put on a stamp and drop into a mailbox right away. Get their contact information into your address book and into your electronic system (like Outlook) as soon as you can. Don't have time to copy information into your address book? Tape or staple their business card into your book.

A Bias for Action

Use an Activity Tracker, a tickler file and keeping track of "the next actionable item" as your support for action to build your business.

Office Space

Everyone needs a physical location to serve as the "command center" of business action. The basic requirements for a work space are a flat surface for writing and room for an in-tray. If you don't have a dedicated (not used for anything else) and functional workspace with an in-tray, get one now.

To get started in your new home business you will need two kinds of "office": your functional work space at home and a portable system that you can take with you. In time, your work space will probably expand to include a phone, a computer, stacking trays, working file drawers, book shelves for reference books and media. Some will also need a fax, a printer, a VCR/DVD player and/or multi-media conferencing equipment. For people who travel, a laptop computer will seem like a necessity.

The Simplest Start

You can start to build your business with the simplest work spaces: an old door on top of two, 2-drawer filing cabinets (one at each end) with three stacking trays on it, a legal pad and a pen and access to your phone. You could start with one end of your kitchen or dining table and a plastic filing box, a phone and a pad of paper and a pen. You will need a satchel or a backpack or some other way to "take the show on the road" carrying a few folders and your Productivity Tools.

Your 21st Century Home Office

In this day and age, if you want your home based business to be a modern business with communication by email and marketing and ordering online, you will need to take stock of your office set up and plan to update your equipment and skills as needed. It is possible to conduct business from a distance which makes your business "portable" e.g. you don't have to be in your home office to take care of business. You are free to travel and to work any hours of the day (or night) that suit you. However, don't let anyone convince you that you'll be able to do this without up-to-date technology. Begin to plan for the gradual building of your truly modern and convenient office and communications systems and skills.

• Get more information about the Simpleology book and free training program for Simpleology 101.
• See if the Simpleology training program (free) is for you.
• To find out what Mark Joyner thinks about the Law of Attraction, read his blog post at Evolving Times.