At Body of Accounting, our work focuses on the health and wellness industry because, like you, we place a premium on our wellbeing. People need to feel their best in order to perform to their peak potential. Helping customers get to that point is the privilege of the hard-working men and women involved in the field.
Bowen College founder Dr. Manon Bolliger delivered a wonderful talk on the importance of health to wealth and business. In it, she asks us to evaluate the stressors and activities by asking, “Is this loving to me?”
I love that advice.
Bollinger also encourages us to shift our focus from one where we seek a diagnosis, i.e. the list of ailments that have accumulated due to a series of choices that are neglectful of our bodies, to one of where we focus on our “healthnosis.” It’s a notable distinction. Rather than focusing on when things when they go wrong, the importance of making smart lifestyle choices are appreciated in the moment and in an accumulation of indicators of your bodies health.
It’s much better practice to make and focus on healthy choices than to wait until something has gone wrong, wouldn’t you agree?
What a perfect analogy for your business’ finances.
As an entrepreneur, it’s likely that you treat your company better than you treat almost anything else in your life. We’re all guilty of it from time to time. Drive is good, but you have to take care of yourself in order to nurture the things that are important to you.
What happens to anything when you ignore warning signs and make no effort to educate yourself, only looking up to receive a diagnosis that you waited too long?
That can be your body, and it can also be your business’ finances. That’s why we advocate a healthy “finan-osis” (try to say that three times fast).
What’s your finan-osis? It’s reading the financial temperature of your business on a regular basis. It’s knowing what’s coming in and what’s going out. It’s knowing when you need to exercise caution before the alarm bells go off for your business.
Do you know the finan-osis of your business?
Health and wellness industry entrepreneurs carefully consider each and every aspect of their enterprise, from their space to their services. Would you imagine hiring someone to work for you having no idea how they are performing? Never. So why do so many business owners completely ignore the financial side of their company, which is even more critical than your employees?
We all want support in making critical decisions for our companies, including when we’re ready to hire, expand, or offer new services. Your financials can help with all of that.
Tax time shouldn’t be the only time a year that you work to understand your income and spending.
Once you understand your money, you can make it go to work for you. Part of that process is maintaining a healthy read on your finan-osis. Get help with your bookkeeping. Understand your monthly statements. Have an accountant that you trust. Get a regular temperature read to continue your business’ path towards continual wellness.
Be more loving to your business. Include financial well-being in your overall promotion of health and wellness. Your money and your hard work will thank you.
Watch Dr. Bollinger’s full video here: