15: The 5 Financial Pitfalls to Avoid in the Coaching and Consulting Industry with Parker Stevenson

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The 5 Financial Pitfalls to Avoid in the Coaching and Consulting Industry with Parker Stevenson

Are you using your numbers to inform your decisions or are you avoiding them?

Numbers don’t define you, but they do tell you where you’re at and what you can do to change the future.

In this episode, I’m joined by my bookkeeper, Parker Stevenson, to talk about the 5 financial pitfalls you want to avoid as a business owner and the financial state of the coaching and consulting industry in 2022.

I’m also sharing some vulnerable stories from when I was $55K in debt and how I created a better relationship with money. All this is to say: If I can do it, you can too.

Parker is the Chief Business Officer at Evolved Finance: a bookkeeping firm that specializes in helping online entrepreneurs to build more profitable and financially stable online businesses. For over 7 years, Parker has been advising some of the top coaches, course creators, influencers, and thought leaders on how to make more sound business decisions using their financial data. Before joining Evolved Finance, Parker spent 5 years at Adidas America where he became the US product manager for golf footwear.

What We Cover in This Episode:

  • Why you should keep your business and personal finances separate
  • How looking at your numbers can help you make better decisions
  • Making decisions based on information rather than emotions
  • Bringing in people to help you
  • Planning far enough ahead
  • Asking the right questions
  • Why you need to stop putting off your taxes until the last minute
  • The financial state of the coaching and consulting industry
  • Focusing on what you do best

Numbers don’t lie, and you might find that intimidating, but I hope this episode helps you see why it’s a good thing. Whatever your numbers are telling you right now, you can use them to improve the future of your business.

If you want to learn more about how to read and track your numbers, the Color Your Dreams Inner Circle is for you. There you will find support as you create a legacy that is sustainable, abundant, and enriching, without playing by other people’s rules. Go to elainelou.com/innercircle to apply.

Resources Mentioned:

Get Parker’s Free Audio Course
Schedule a Consultation Call with Evolved Finance
Follow @evolvedfinance on Instagram
Join The Evolved Finance Facebook Group

 

Where We Can Connect:

Apply to schedule a call to see if the Color Your Dreams Inner Circle is a good fit for you
Schedule a call with me
Join my weekly Color Your Dreams Newsletter
Follow the Podcast
Follow Me on Facebook
Follow Me on Instagram
Connect With Me on LinkedIn

 

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Legacy Maker!

Before you go to another page, sign up for my free, weekly Color Your Dreams Newsletter where I dish the latest business tips, career secrets and legacy advice!