The New Year is here, bringing fresh opportunities to take your business to the next level! In this annual episode, Danielle dives into the trends for small business owners and their finances, breaking down what’s ‘in’ and ‘out’ for 2025. From goal-oriented budgeting and game-changing financial habits to mindset shifts and ditching outdated spreadsheets, we’re covering everything you need to tackle your business finances with clarity, confidence, and efficiency this year. Tune in and get ready to thrive in 2025!
Key Takeaways:
- In with Goal-Oriented Budgeting: Traditional budgeting feels restrictive, but this year, it’s all about giving yourself permission to spend strategically to fuel growth.
- Consistent Financial Review Routines: Make reviewing your financials enjoyable! Ways successful CEOs build accountability into their routines, whether it’s a coffee shop treat or quarterly check-ins with a financial team.
- Embracing Financial Education: Stop avoiding your numbers! In 2025, we’re flipping the script and using financial data to feel empowered and make informed decisions.
- The Power of Gratitude in Business: Learn how integrating gratitude into your planning process can fuel growth and help you celebrate wins instead of rushing to the next goal.
Topics Discussed:
The Shift to Goal-Oriented Budgeting (00:00:26 – 00:00:52)
The Power of Consistent Financial Review Routines (00:00:52 – 00:02:18)
Embracing Technology and Tools to Streamline Operations (00:03:20 – 00:04:27)
What’s OUT in 2025: Overcommitting and Outdated Habits (00:05:09 – 00:05:57)
Mindset Shifts for Business Growth in 2025 (00:07:25 – 00:08:18)
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Episode Transcript
00;00;00;00 - 00;00;26;12
Danielle Hayden
Welcome back to Business by the Books. Today's our annual episode on what's in and what's out. When it comes to small business owners and our accounting and finance, let's get right into it. What does it mean for 2025? This is from our perspective here at Kickstart Accounting, Inc., what we're seeing with our clients and within the industry of small business owners.
00;00;26;13 - 00;00;52;15
Danielle Hayden
So first of all, I want to encourage us to look at trendy new business practices. I know that's a very different than my normal tried and true consistency, focus on the boring, but there are some new business trends, like goal-oriented budgeting that really gives our clients a sense of freedom. Traditionally, budgeting has been restrictive. It's been all about what are we cutting back?
00;00;52;15 - 00;01;22;28
Danielle Hayden
What can we not spend money on? And we're really encouraging our clients this year to lean into goal-oriented budgeting styles, where we're actually giving ourselves permission to spend in the areas that are going to make a difference in your business. Across successful business owners, we are seeing the most successful CEOs have consistent financial review routines, and I love the design that some of our clients have used to create accountability.
00;01;22;28 - 00;01;43;23
Danielle Hayden
Some of our clients go to their favorite coffee shops. They reward themselves with a treat every time that they review their financials. We have some clients who use their monthly or quarterly calls with our team to make sure that they're being held accountable, but this is a new business trend that I really want to encourage you as a business owner to lean in.
00;01;43;23 - 00;02;18;01
Danielle Hayden
We need consistent financial review routines. Now, of course, I want these to be monthly. However, if we are at least checking in on a quarterly basis, then that will help you as a business owner avoid any nasty surprises as we go through 2025. I want you to embrace financial education. You are listening to this podcast so I know it's something that you already are using to help you feel empowered, but numbers, data, and finance this can be used to really help us feel confident
00;02;18;01 - 00;02;47;24
Danielle Hayden
rather than intimidated. So this year, in 2025, can you embrace leaning into the financial education with this podcast, with your financial snapshots and our team to help you feel more empowered than ever? Alright. What else are we leaning into? What is in? It is our mindset. You heard me. I'll talk about my gratitude practice back around Thanksgiving, but there is a place for continually using gratitude as a part of your business planning.
00;02;47;24 - 00;03;20;26
Danielle Hayden
I mean, raise your hand if you're one of the business owners who are constantly looking at what is the next thing I can do? What's the next big goal or growth opportunity? And we forget to step back and celebrate what we have just conquered, what we have done. I bet you so many of you have jumped into 2025 planning without thinking about what has happened in 2024, taking a moment to celebrate and give yourself a freaking high five because you are in this thing and entrepreneurship is not easy.
00;03;20;29 - 00;03;54;22
Danielle Hayden
Now technology and tools, this is something that my team and I, we are leaning into big time here at Kickstart. We want to use software and apps not only to help us with our back-end process, but to help you have an amazing client experience here at Kickstart. We recently launched a software called Financial Sense, and yes, we're using it internally on the back end to manage all of our projects and keep track of all the outstanding information that we need from our clients who are also using it for you, our clients.
00;03;54;22 - 00;04;27;01
Danielle Hayden
This tool allows us to request information from you securely, offers you a portal to be able to access your information, and allows you to easily keep track of the requests that you have coming from our team. I've always said that our bookkeeping services are a “done with you” service. We need your input. We need your bank statements. We need information from you and our goal is to continue to create software and opportunities to always be thinking about ease of use for you, our client.
00;04;27;02 - 00;05;09;12
Danielle Hayden
Now for you in your business, how can you lean into softwares and apps that are going to help you on the back end, but then also improve your client experience? Now, I always think what is in and trending is leaning into new opportunities, especially as small business owners. There are so many opportunities for us, so we might want to lean into grants like the Ohio TechCred grants or investments in yourself and your team and your growth, or taking things off of your plate, finally leaning into the things that you should be doing in your business, your zone of genius, and get those things off of your plate that are no longer serving you.
00;05;09;14 - 00;05;38;01
Danielle Hayden
However, what is out is saying yes to every single opportunity, especially when it doesn't align with your goals. Last week we talked about setting an intention for your year, and I want you to think long and hard about your intention and your goals, both business and personally. Before you say yes--this was me last year--I was saying yes to every opportunity I had to ask myself, is this really serving Kickstart?
00;05;38;02 - 00;05;57;12
Danielle Hayden
Is this really serving where we are going as an organization? And is it time that I start saying no and only taking on the things that align with what the business needs from me? There are things that only I can do in the business. And when I'm saying yes to every opportunity, I'm not doing what my team needs me to do.
00;05;57;12 - 00;06;32;25
Danielle Hayden
So what's out is saying yes to every opportunity, and what's in is protecting your time and your energy. Alright, so what else is out in 2025? It is relying solely on spreadsheets for bookkeeping. You guys, it is 2025. We are no longer keeping track of our finances and bookkeeping in spreadsheets. You heard me. There are software. There's apps, tools, and companies to help you with your bookkeeping to keep you organized, and to deliver that financial information in a way that's easy for you to read.
00;06;32;25 - 00;06;56;15
Danielle Hayden
It is time to ditch the spreadsheets. Come on, you are better than that. And I want you to level up as a CEO of your business. This year, we are going to stop treating our personal and business finances as interchangeable accounts. You guys, I have talked about this in previous podcast episodes. Your business checking account is not for personal use.
00;06;56;15 - 00;07;25;00
Danielle Hayden
There's so many reasons why I won't go back through them again. But in 2025, can you commit right here, right now that you are no longer going to put personal expenses on your business credit card and debit card? We want to protect the business both legally and financially. Lastly, we are going to stop ignoring cash flow. It is time as business owners for us to level up.
00;07;25;00 - 00;07;50;02
Danielle Hayden
We are no longer chasing profit alone. We need to be looking at our comprehensive financial picture. And I know that comes with all kinds of mindset issues. So let's also leave out this year the fear of financials, the avoidance of numbers. Let's stop viewing budgeting as deprivation. Let's look at budgeting and looking at our numbers as an opportunity.
00;07;50;02 - 00;08;18;02
Danielle Hayden
We have an opportunity to stop making reactive decision making and instead make strategic planning decisions. We can look at the overall cash flow in our business rather than chasing profit, chasing the next big opportunity as a business. Let's look at our overall financial picture and make data driven decisions. All right, you heard me. We are not chasing every new trend this year.
00;08;18;02 - 00;08;41;07
Danielle Hayden
That is so last year. We are going to stay consistent, looking at the trends, pivoting when necessary, but asking ourselves with data from our financials, what's working and not working. That is a lot. We have a lot to embrace as business owners this year. We have so much that we are leaving last year, so let's all agree together
00;08;41;07 - 00;09;08;09
Danielle Hayden
We are going to leave the fear of financials. The avoidance of numbers in 2024, and we are going to take on 2025 and all of the opportunities that we can embrace feeling empowered, grateful, efficient, and strong as business owners. All right. We'll see you next week back on Business by the Books. I hope you enjoyed today's episode of Business by the Books.
00;09;08;09 - 00;09;49;17
Danielle Hayden
Don't forget to hit like and subscribe! This is the number one way we can help other entrepreneurs find this podcast because here at Kickstart Accounting, Inc., it is our mission to help entrepreneurs understand their numbers, get access to this information, and grow and thrive in their business. So please help me, help other entrepreneurs understand their numbers so they can finally grow and thrive.