Mastering Small Business Finances: Expert Tips & Tricks

Mastering Small Business Finances: Expert Tips & Tricks

Table of Contents:

1. Introduction
2. About the Author
3. Setting up a Budgeting Journey
4. Overcoming Feedback and Constructive Criticism
5. Challenges Faced - Background Noises and Distractions
6. Introducing the Exceed Brand Journal
7. Purpose of the Journal for Etsy-related Finance and Tracking
8. National's Wallet - An Introduction to the Etsy Shop
9. The Benefits of Cash Envelope System for Budgeting
10. The Importance of Tracking Numbers and Sales
11. Income, Expenses, and Net Profit Calculation
12. Tracking Etsy Expenses
13. Tracking Orders, Net Sales, and Best Sellers
14. Evaluating Weekly Sales Performance
15. The Favorite Tracker - Weekly Sales Breakdown
16. Month-to-Month Comparison and Analysis
17. Personal and Business Budgeting Approach
18. July Expense Tracker
19. July Income Breakdown
20. Success and Challenges in Business Journey

Introducing the Exceed Brand Journal

Welcome back to Nash Lee's channel, where she shares her budgeting journey and everything in between. In this video, Nash introduces her Exceed Brand Journal, a dedicated tool for tracking various aspects of her Etsy-related finances. Join her as she takes you through the features and organization of the journal, sharing insights from her past experiences and how she uses it to stay on top of her budgeting game.

Setting up a budgeting journey can be an overwhelming task, but with the right tools and mindset, it becomes a rewarding and empowering process. Nash understands the importance of being in control of her finances and has taken the initiative to delegate a specific journal for all her Etsy-related finance and tracking needs.

However, as with any creative pursuit, Nash has faced challenges along the way. One of the most significant obstacles she encountered was dealing with feedback and constructive criticism. While she tries her best to provide high-quality content, she acknowledges the limitations of her environment, such as car noises and background distractions.

Despite these imperfections, Nash remains determined to deliver valuable content to her viewers. She invites her audience to embrace the journey alongside her, even with a few bumps along the way. Nash's genuine commitment to providing helpful budgeting tips shines through, making her channel a reliable resource for those looking to better handle their finances.

Now, let's dive into the Exceed Brand Journal. Nash purchased this journal in June and transferred all the essential numbers and tracking details into its pages. The Exceed Brand Journal offers a sleek and minimalistic design, perfect for Nash's Etsy business and finance tracking purposes.

She takes pride in her Etsy shop, Nash's Wallet, which offers chic and aesthetically pleasing cash envelopes to assist in budgeting. Nash firmly believes in the efficacy of the cash envelope system and strives to make budgeting more enjoyable by offering a variety of cute envelope designs. She showcases one of the clear envelopes with black labels and white writing, which can be customized with different colors and sets.

Nash reflects on her journey with the Etsy shop, which has now entered its third month. She acknowledges that it has been a learning process, especially in finding the best ways to track sales, expenses, and income effectively. This is where the Exceed Brand Journal comes into play, allowing Nash to centralize all her financial data in one place.

Turning the pages of the journal, Nash reveals her tracking system. She initiates with a comprehensive breakdown of her net profit for each month. Unlike traditional methods that solely rely on sales numbers, Nash calculates her net profit based on actual income revenue minus expenses. This gives her a precise understanding of the money she has generated and the final profit figure.

As we delve deeper into the journal, we see Nash's meticulous approach to tracking Etsy expenses. This ensures that she has a clear overview of all business-related purchases, making it easier to understand her financial position.

Moving forward, Nash delves into her favorite tracker, which provides a weekly breakdown of orders, net sales, average selling prices, and best sellers. She explains how she updates this tracker daily, giving her a real-time and comprehensive view of her Etsy shop's performance. This breakdown allows her to identify patterns, evaluate weekly sales performance, and adjust her strategy accordingly.

Looking at her month-to-month comparison, Nash shares her discoveries and insights. She highlights standout weeks, such as a significant restock leading to an increase in orders and net sales. Conversely, she reflects on a week with limited stock availability, resulting in a decline in sales. This analysis helps her adapt her inventory and marketing strategies to maximize profits and meet customer demands.

Throughout her budgeting journey, Nash emphasizes the importance of personal and business budgeting approaches. While she follows a zero-based budgeting system for personal finances, she adopts a slightly different approach for her Etsy business. She allocates the necessary funds and rolls over any surplus to provide a cushion for unexpected expenses or supply needs. This flexibility has proven to be beneficial, ensuring that she always has funds available for her business operations.

Jumping to the current month, Nash shares her expense tracker for July, which provides a transparent breakdown of all business-related expenses. This meticulous tracking helps her assess her spending habits and identify areas where she can optimize her budget.

Nash concludes the video by expressing her gratitude for her viewers and subscribers, inviting them to join her in upcoming videos where she will share her process of setting up the second half of July income breakdown. This transparent and genuine approach resonates with her audience, reinforcing the trust and connection they have with her.

In summary, Nash provides an intimate and informative look into her budgeting journey through the Exceed Brand Journal. Her dedication to tracking and analyzing her Etsy business finances showcases her commitment to financial wellness. By sharing her experiences, successes, and challenges, Nash inspires others to take control of their own financial journeys, making budgeting and business management accessible and enjoyable for all. Join her for more insightful content on her channel, Nash Lee.