Having over $92,000 in personal debt gave me the motivation to create consistent profit in my direct sales business so that I could direct those earnings towards reaching our goal of paying that debt off in less than 4 years.  Muddling through that experience taught me three things that will forever change the way I approach the financial side of my business; 1) Managed money really does work harder, 2) If you don’t know how to make your money behave, then no matter how much of it you bring in, it will never be enough, and 3) when managed well, your business will prove to be a blessing to your financial situation rather than a burden.

So where do you even start when it comes to creating a well-financially-managed business?

Well, there are several tips worth mentioning, but my number one go-to piece of advice is to start WHERE you are with what you already HAVE!  Did you know that some of the greatest businesses were started in someone’s garage or on a little card table in the corner of their bedroom? You don’t need a fancy storefront or the newest computer, or even a nice desk to create a wildly successful business.  (You WILL need time, persistence, and a strong work ethic, so don’t get discouraged if your business doesn’t take off immediately.)  If you are being called to create a business, take inventory of the resources you already have available to you.  Get creative…you’d be amazed at what you can accomplish with the tools you already own.  For example, if you would like to open a bakery someday, don’t get wrapped up in finding the right location or that super fancy limited edition mixer (although it really is pretty!).  Instead, buy some ingredients, grab the mixer you already own, and begin to bake.  Now go and sell a few cupcakes.  (And if no one buys those cupcakes you’ll be really glad you don’t have a brick and mortar rent to pay!)  But your cupcakes are FANTASTIC, so OF COURSE people will buy them.  And when they do, keep that money aside and begin to save for bigger, better tools.  This approach will help you create a low-risk (and oftentimes debt-free) business, leaving space in your brain to worry about more important things…like which flavor of frosting goes best with your new cake recipe!

Maria Casillas, Founder of Cash In On Change, LLC

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