Setting up a Financial System for Your Business with Clarissa Wilson

In today's discussion, Clarissa unravels the crucial world of financial management for small business owners. She stresses the fundamental need for a robust financial system, advocating for a separate business bank account and a dedicated bookkeeping system. Clarissa, the founder of Nerdy Number Lovers and an accounting expert with three degrees and six years of government tax auditing experience, provides valuable insights. The conversation delves into distinguishing between personal and business expenses, emphasizing the significance of keeping them separate. The hosts highlight the four key numbers every business owner should track: revenue, gross margin, net profit, and operating expenses. This comprehensive conversation offers a wealth of knowledge on financial management, covering the essentials of establishing a financial system, understanding crucial numbers, and the importance of professional guidance. Join us for an episode filled with practical advice as Clarissa simplifies the complexities of accounting and bookkeeping, guiding small businesses toward financial success. Key Questions: * How do you set up a business bank account? 6:41 * What expenses can be considered tax write-offs? 11:27 You can find more information about Clarissa Wilson at:https://nerdynumberlovers.com/ If you want to discover your entrepreneur archetype, so you can create a practice that allows you to live life on your terms, check out my Entrepreneur Archetype Quiz here. Join The Profitable Practitioner private community here to gain business tools, support, and collaboration while growing your practice! Grab my Ultimate Course Creation Guide, to start scaling your practice and winning back your time. Follow us on IG: www.instagram.com/madimillercreative_   www.instagram.com/theprofitablepractitioner