The decision to go into business with another person is a HUGE one. Mainly because there is so much you must consider when it comes to bringing on a business partner. When I hear other entrepreneurs talk about business partners, they usually recommend staying solo–and to be honest, I don’t blame them. Being a solo-preneur is just easier in a lot of ways. My own experience at Evolved Finance, however, has shown me just how powerful a business partnership can be. We can rely on each other in a way...
Sep 09, 2019•22 min
For most business owners, finance might as well be a four-letter word. It can definitely be scary to get a handle on your numbers—after all, what you don’t know can’t hurt you. The problem is that running your business without knowing what’s going on financially is a little like driving a car with cardboard taped over the dashboard. Sure you can do it for a while, but how will you know if you’re running out of gas? Nobody longs to become an entrepreneur so they can crunch numbers and organize fi...
Sep 02, 2019•23 min
It’s incredibly difficult to find good bookkeeping in an online business. We’ve onboarded 125-150 online businesses over the years and this generally rings true: if a new client signs up to work with Evolved Finance and they had a previous bookkeeper, the books are going to be a hot mess over 90% of the time. Bookkeepers don’t need any special certification; they don’t have to follow any standardized industry practices, and very few specialize in specific industries so they can become experts. T...
Aug 26, 2019•28 min
Cash Flow is an often overused financial term, but most online entrepreneurs aren’t exactly sure what it means for their own businesses. The most important thing to know is that it’s the lifeblood of any successful business—mainly because it’s not only related to the profitability of your business, but also to the timing in which money goes into and out of your business. For larger organizations, cash flow can be complex and time-consuming to manage and analyze. Thankfully, it’s much simpler for...
Aug 19, 2019•20 min
Last week, we had our first group call for our bookkeeping clients at Evolved Finance. It was so exciting to have a handful of our clients together on a call talking about the financial sides of their businesses. This got me thinking about how important it is to have an entrepreneur community you can connect with and learn from. So in this episode, I discuss Why the majority of our clients are in some sort of master mind or group coaching program Why I underestimated the power of being part of a...
Aug 12, 2019•21 min
Debt can be a tricky topic when it’s regarding business. In startups and corporations, debt can be a tool for jumping on opportunities that demand extra cash the business doesn’t have on hand. In certain types of small business, a line of credit might be necessary to manage the ups and downs of monthly cash flow. For online businesses, debt is rarely needed though. That doesn’t stop many online entrepreneurs from getting into situations where they take on debt due to poor financial management. T...
Aug 05, 2019•20 min
There was a time about 4-5 years ago when 95% of our clients hired contractors exclusively for their businesses. A lot has changed since then. Much to our satisfaction, we’re seeing online business owners hire full time and part time employees more than ever before. ..and for good reason! That’s why in this episode, we cover: Why contractors are still important but only for certain positions How employees are helping our clients manage their labor costs Why hiring employees can be scary but wort...
Jul 29, 2019•17 min
Once most online businesses hit $100k-$200k a year, they start to get very interested in evergreen funnel strategies due to the grind of constantly having to launch and promote their offers. If you’ve never heard of an evergreen funnel before, it’s essentially using paid traffic and software automation to drive sales on a daily basis. On the flip side, launches are more manual and happen less often but can take weeks to prepare for. Successful evergreen funnels are not easy to create, but we’ve ...
Jul 22, 2019•25 min
If your online business doesn’t deliver results for your customers, you’re probably going to have a difficult time continuing to get new customers. It doesn’t matter if you sell digital products or services — your offer has to deliver the goods. Over the last couple years, we’ve seen our clients at Evolved Finance double down on making sure their products and services provide an experience that gives their customers the best chance at getting results, but it’s changing how they structure their o...
Jul 15, 2019•20 min
Profit and predictability are extremely important for online businesses once they start generating consistent revenue. But how does finance play into it and why should you care? In this episode, we cover: Why online entrepreneurs get confused about what profit actually is What profit means for your personal wealth How to track your profitability How your past financial data can make your business more predictable How forecasting and planning help make your revenue and expenses more predictable...
Jul 08, 2019•17 min
The Bottom Line by Evolved Finance is back! We know it’s been a while, but a lot’s happened since October for 2018. In this episode we discuss what we’ve been up to, why we took a break from the podcast, and what are plans for the show’s future....
Jul 02, 2019•20 min
Most entrepreneurs have the perception that finance must be complicated and confusing. We’re here to tell you it doesn’t. Whether your online business is brand new or you’ve been in business for years, you will benefit by keeping things simple and clean. We share more about how to accomplish this in this episode.
Sep 24, 2018•13 min
Startups and online lifestyle businesses are two very different things. Even if your business is still in its infancy, getting clear on how big a business like yours can get is important for understanding how much of a financial and time investment it will take to get your business to its maximum potential. Not everyone can be Steve Jobs or Elon Musk, but that doesn’t mean you can’t make a lot of money running a business you love from your home office. That’s why in this episode we discuss the b...
Aug 06, 2018•18 min
Creating an online business that generates revenue is a feat in itself, but creating one that is actually worth something is a different story. We’ve seen a number of online entrepreneurs overestimate the value of their businesses and find themselves disappointed when they realize what the sale of their business won’t give them the pay day they were hoping for. That’s why in this episode we discuss what makes a business valuable and why it can be ok to have a business that’s not sellable....
Jul 09, 2018•13 min
Social media is an amazing tool for finding your audience and connecting with others, but does it move the needle? And if it does drive revenue, is it enough money to make all the time spent tweeting, posting, and streaming worth it? We might not be social media gurus at Evolved Finance, but our clients are. That’s why in this episode, we share how the online businesses we work with are using specific social media platforms to get an ROI for their efforts.
May 21, 2018•20 min
A website is one of the first investments a small online business makes, but regardless of the size of your own business, being clear on the role your website plays in your sales process and marketing strategy is important for insuring that it provides a return on your investment.
May 14, 2018•13 min
Profitable online businesses remain profitable as they grow by managing their cost to acquire new customers. That’s why in this episode, we review the most common customer acquisition strategies in the online space right now and the costs associated with maintaining those strategies.
May 08, 2018•19 min
Almost every online business will hire a contractor for project-based work, but when does it make sense to hire a full-time employee for your business? In this episode, we share the hiring trends we’re seeing in the online entrepreneur space and address the pros and cons of working with contractors and employees.
May 01, 2018•15 min
I wouldn’t have thought that I’d get a lesson in business while looking for a painting to hang up in my home office, but in this episode, I share the story of how an artist from Uganda unknowingly gave me a master class in sales and marketing at a small art fair.
Apr 24, 2018•17 min
There is a ton of pressure in the online entrepreneur community to make your business as successful as possible, but have you ever stopped to think what level of success is really right for you? Not everyone wants to make the sacrifices necessary to grow a huge life style business and that’s totally fine. That’s why in this episode, we explore that delicate balance between your personal life and your business’s financial success that every entrepreneur has to figure out for themselves.
Apr 17, 2018•17 min
Running an online business can be a thrilling and fulfilling experience, but there are some financial downsides to entrepreneurship that can blindside you. In this episode, we address how being an entrepreneur can affect buying a home, filing your taxes, and complicate your personal finances.
Apr 10, 2018•13 min
The US economy has been on a wild ride up-word for the past 5-7 years, but analysts are expecting a recession in the next year or two. That’s why in this episode, we address some of the things you need to be thinking about as an online business owner so you can be better prepared for when a recession hits.
Apr 03, 2018•14 min
It’s easy to get caught up pursuing every opportunity that’s in front of you instead of focusing on the one or two things that are already creating revenue for your business. It’s amazing how quickly your business can grow when you start to weed out the opportunities that just spread you thin instead of keeping you focused on what you do best. In this episode, we share how we learned this lesson the hard way and what you can gain from our experience.
Mar 27, 2018•16 min
2017 has absolutely flown by, so for our last episode of the year, we wanted to review the business trends we’ve seen in the online entrepreneur community and what they might mean for your business in 2018.
Dec 19, 2017•25 min
Big corporations have finance departments that can generate all kinds of crazy financial reports to help leadership understand the state of the company, but small online businesses only need one report, and that’s the profit & loss statement. If you aren’t creating a profit and loss statement each month to track your business’s health, then this is the episode for you. If you’re interested in the program I mentioned in the episode (The Shift:Small Business Edition), sign up for our free mastercl...
Dec 12, 2017•13 min
Running an online business usually means having to create free content or opt-ins in order to build your email list and create an engaged audience ready to buy your products or services. But it’s not always easy to know when you should charge for something and when to give it away for free. That’s why in this episode we explain they key component you need to be clear on so you can give away content and opt-ins for free without resenting your audience.
Dec 05, 2017•13 min
Entrepreneurship is synonymous with making money, but not all entrepreneurs feel good about financial success. That’s why in this episode, we discuss the ways you can make more money without feeling like a sellout.
Nov 28, 2017•16 min
At Evolved Finance, we work with many amazing and talented entrepreneurs and small business owners to help them successfully manage the financial aspects of their business. Over time, we’ve identified five frequent financial mistakes that online entrepreneurs can easily avoid. Learn from these mistakes and you’ll be miles ahead of the game.
Nov 14, 2017•14 min
We’re so entrenched in the financial sides of our clients’ businesses that we forget not all online entrepreneurs are familiar with this stuff. That’s why in this episode, we make sure there is no confusion about the roles bookkeepers and accountants play in your online business.
Nov 07, 2017•14 min
Every online business model has advantages and disadvantages. They become more obvious the larger the business becomes. What’s unfortunate, is that when most entrepreneurs start a lifestyle business like the ones we work with at Evolved Finance, they don’t always realize what they’re getting themselves into until they start making real money. That’s why in the latest episode, we share the pros and cons we see in the three most common online business models.
Oct 31, 2017•27 min
