Let's simplify your finances
Arguably one of the most important aspects to becoming a successful business owner is having your finances in order; after all, with no money, you've got no business. As an entrepreneur, it's important that you have your business and personal finances in order because you never know what may happen with your business venture(s).
“It's simple but vital: Keep business and personal accounts separate and document profit distributions to yourself. Keeping your business and personal account separate is essential if you want to sell your business or you face litigation or bankruptcy. In the worst case, intermingling personal and business accounts may negate the protections offered by your business structure."
It can be easy to let managing your own money fall through the cracks while trying to grow and expand your endeavor. Envoy was created to help entrepreneurs (with small businesses under one million dollars in annual revenue per year) delegate the daunting task of managing their business and personal finances, so that they can work on their business as opposed to working in it. This service provides peace of mind that payments are never missed, financial transparency is achieved and confidence knowing you're preparing for financial challenges with an experienced consultant.
Aspects of finance all entrepreneurs should consider to be successful:
- Maintaining positive cash flow by keeping business and personal expenses in check
- Planning for inevitable rainy days (or months)
- Protecting their most valuable asset (themselves) with disability insurance
- Planning for retirement by contributing to accounts like a Roth IRA, SEP IRA or Solo 401k account (potential to shelter a lot of your business income from taxes)
- Delegating tasks to avoid administrative work (professional tax advice, marketing, bookkeeping/cash flow management)
These aspects are all addressed, discussed and planned for through the client partnership established with Envoy. As stated by Dave Roos in The 10 Most Common Problems For New Businesses, the “one-man band” strategy might be a great way to save money at first, but it’s not the smartest way to grow your business and will not lead to success in the long run.
Managing Your Personal Finances As An Entrepreneur
Understanding Cash Flow is Critical
...Through bad financial choices, divorce, and family hardship I was feeling broke and more trapped than ever. I had to swallow my pride and admit I was overwhelmed and needed help. I was full of anxiety during the initial consultation but you were reassuring, you made me feel like you were going to be in this with me every step of the way. I tell everyone about Envoy FPA when afforded the opportunity. I have a very long way to go but with your help I am confident now that I will get there. I mean this truly and sincerely when I tell you that you have been changing my life
WB. Air Traffic ControllerAvon, Connecticut
Only one year has gone by and such a big difference in my money habits has changed. I'm so proud of myself in my discipline. I no longer have to say I wish... It's I will or can!
CS. NurseAtlanta, Georgia
...I was extremely overwhelmed by my financial situation...I couldn't get out of the hole and it was difficult for me to get organized. When I met with Elena for the first time I found her to be welcoming and confident of her ability to help me reach my financial goals. I no longer feel stressed about my bills or savings because Envoy FPA takes care of it. I have seen a tremendous improvement with in my first 90 days. I definitely will continue to refer Envoy FPA to my family and friends
MW. Property ManagerAtlanta, Georgia
I contacted Envoy FPA and felt a sense of relief knowing I had a partner to consult and that I had a cushion for unexpected expenses in my savings, I’d never had that before. I paid off the furniture I’ve financed since working with Envoy FPA which eliminated a bill, freed up more cash and eliminated the high interest rate. It feels like I’m progressing when it comes to my finances, my outlook on paying bills and budgeting is better. I’d tell anyone considering this service to think about how long you’ve been saying you’re going to do better with your money. Just make the call, you have to be ready for a sense of power and embrace change
BR. Business Analyst IIAtlanta, Georgia
The consulting provided by Envoy FPA raised my middle credit score from 624 to 720 in less than six months. My life was improved by this service because I was able to afford more things like groceries and was able to buy another car at a 4.75% interest rate. It made me feel like I have control of my finances and gave me stability. Envoy FPA worked great!
JM. TellerAtlanta, Georgia
There's no shame in owning where you are and where you need to be. Envoy FPA will make you proud of your finances and you will look forward to the road ahead!
ST. AnalystTallahasee, Florida
After my consultation, I realized how much adjustment my finances needed. The first benefit was seeing more money in my 401k. The conversation was an eye opener and taught me a lot more than I knew even though I'm very good with my money. I was very satisfied
TD. Network EngineerAtlanta, Georgia
Envoy FPA sets me up for a financial touchdown for my future. I am self-employed so having my finances under a watchful eye by a financial accountability partner makes me rethink every penny I spend. This experience made me feel more financially sound for my future