Have you ever felt that despite running your own business, you still haven’t enjoyed the results of your efforts? Certainly, you are not alone, really! When experiencing this, try to ask yourself, have you been separating personal funds from funds that you will use to run a business? If the answer is not, then it means you have to reset your strategy to manage money.
Apparently, separating between personal money and business money is not important. After all, both of them are your money, right? Eits, but in reality, separating the two can really help you in many ways. Some of them are making bookkeeping processes more effective and efficient, protecting venture capital and recording transactions clearly, and making it easier for you to calculate the amount of profit obtained. Then, what do you need to do to separate personal and business finances? Here are some things you can apply!
1. Save personal money and money for businesses in different places
Try to create a different account, which is a savings account for yourself and a special account to save money from sales and money for venture capital. That way, you will be increasingly able to see the financial condition, both your own money and money that will be used for business purposes.
2. Develop the business to the maximum
Once you separate your personal needs from your business needs, the next step you need to take to make a profit is to develop your business as much as possible. You can start by making regular income target designs in your store. Try to make an estimate, how much income you need to get. This needs to be done regularly and you also need to keep all the evidence of transactions that you do.
3. Use your income for the right thing