Don’t Let the Year-End Scaries Haunt Your Business – Plan Now for a Smooth Finish to 2024! 👻

As Halloween approaches, there's nothing spookier than being caught unprepared for the end of the year!

Wait, it’s only October 1st, why are we already talking end of year? It’s a pattern that is all too predictable for financial folks like us. November and December are notorious for flying by and not getting to business to-dos. We know, because it’s when we get the most new clients. Right before and during the freakout, when businesses realize they need to wrap up annual financials and prepare for taxes. So, this is YOUR month to get ahead!

If year-end and tax time have been an annual nightmare, this is your sign to avoid that last-minute scramble and ensure your business ends the year strong while setting yourself up for success in 2025. Avoid a rocky start to the new year by getting your financial ducks in a row before the holiday chaos sets in.

Start Now to Get Ahead of the Holiday Rush:

The holiday season, while amazing, can also be one of the busiest times of the year for businesses. Between wrapping up client matters and planning for the holidays, you don’t want to be blindsided by year-end financial to-dos. Here are a few spooky pitfalls to avoid by planning early:

  • Employee Bonuses: Have you allocated enough for year-end bonuses? Budgeting for employee appreciation now is essential so it doesn’t become a financial burden later.

  • Holiday Parties & Client Gifts: These festive expenses can add up quickly. Ensure you’ve planned your budget to celebrate the season without sacrificing your financial health.

  • Year-End Payments & Taxes: Whether it’s catching up on upcoming expenses or preparing for tax season, getting your books in order now will save you from a year-end scramble.

Setting up and implementing a cash management system to systemically save for these expenses will create a proactive saving strategy for your business.

Avoiding the End-of-Year Budgeting Haunts:

It’s October 1st which marks the start of Q4, which means it’s time to reflect on your Q3 performance and update your quarterly budget. Was Q3 everything you hoped it would be? Or did some areas underperform? Use this time to recalibrate and finish the year strong.

Ask yourself:

  • What went well in Q3? Capitalize on your successes and see how you can carry those wins forward.

  • Where did you fall short? Pinpoint areas of improvement and make necessary adjustments to turn those areas into wins.

Use this quarter to clean up any lingering issues and set your business on a positive financial path for the rest of the year. This proactive approach is the key to ending 2024 strong and avoiding those frightening end-of-year surprises.

Taking the time now to map out these expenses and reflect on Q3 ensures you're prepared for a stress-free holiday season and can roll into the new year with confidence!

What MM’s Been Up To

Meet Our New Team Members!

We’re excited to announce that Tillena and Jenmae have joined the MM team! As we continue to grow, we’re practicing what we preach—hiring before it’s desperately needed to ensure smooth transitions and non-stop excellence. We help our clients do the same by advising on strategic growth and smart hiring decisions, so they’re always prepared for the future.

Start 2025 off right with Our Financial Freedom Frameworks:

We’re not just wrapping up 2024—we’re also laying the groundwork for a successful 2025! At Money Mastery, we believe the key to business success is starting the year with a solid financial strategy. That’s why we’re excited to introduce our Business Financial Freedom Framework programs, which launch January 1st.

We offer two options based on your business’s needs and position:

  1. Mid-Level Business Finance Framework: Ideal for businesses looking for a jump start on the right path to financial success with a quick and simple setup. Focused on building strong financial foundations like cash flow management, setting clear financial goals, and forecasting and measuring growth using KPIs.

  2. High-Level Business Finance Framework: For businesses looking to break the next glass ceiling with a financial coach to guide you. In addition to everything the Mid-Level Framework offers, we’ll dive deeper into advanced financial strategies like long-term financial strategy while protecting profits and how to make it all work towards your financial freedom.

Both frameworks are designed to give you the financial clarity and strategy you need to make 2025 your most successful year yet. Let’s kick off the new year right!

Fractional CFO for Small Businesses

Safeguard Your Business Against Fraud: Accounting Horror Stories & How to Avoid Them

In the spirit of Halloween, we’re sharing some real-life accounting horror stories that we’ve encountered with businesses—and more importantly, how you can prevent these nightmares from happening to you. From fraud prevention tips to safeguarding your business’s financial health, this blog will help ensure you know what to look out for in your practice!

Podcasts!

#11 - Position Yourself In 2024

As we’re coming up on the last quarter of 2024, listen in on some lessons learned from 2020 that are still vital in 2024 and beyond, and how they can be your stepping stones to prosperity in this coming year. 

Check it out!

#19 - Why 80% Fail

Dive into the hard truths behind why so many people fail to achieve their personal and business goals. Chelsea talks about the importance of honesty, consistency, and accountability, and shares tips on how to break through the barriers that keep you from success.

Check it out!

Let’s Wrap Up 2024 Strong!

Don't wait until the holiday rush or the end-of-year scaries catch you off guard! We’re here to help you avoid the spooky financial surprises and finish the year with confidence. Let's work together to make 2025 your business’s best year yet!

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