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My Money Breakthrough

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JKRI thought I was going to die. A series of unfortunate events led to the reality that we were not going to make our payroll. In either of our companies.

I couldn’t breathe. The tension was nearly unbearable.


Then, it got worse. 

My ex-husband (who now lives with me again) found out that the $1,500 a month income he gets from a family trust wouldn’t be coming anymore.

That was his rent and food money.

We counted on that money. And they told him just ten days before the end of the month.

He couldn’t sleep. Stress beyond belief.

What were we going to do? 

Have you been here before? I suspect you have.

Money fear. It’s a killer. It kills creativity. It kills harmony. It kills love. It kills innovation.

And it’s in the air.

The biggest problem is that the stress of it keeps us from the one thing that will shift it.

We have to have a breakthrough.

I’ll tell you about mine tomorrow. It was big.

But for today, do this.

My friend Max Simon, is having a 21-day money breakthrough challenge. 

I’ll tell ya about Max and his money breakthrough tomorrow when I tell you about mine.

For now, just get signed up.

More soon …

What is a business priestess and why do I need one?

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Most people go totally unconscious when dealing with the legal, insurance, financial & tax (LIFT) parts of their businesses.

As a result, they make poor choices. These poor choices can have catastrophic impact, including lawsuits, big tax liabilities, and even bankruptcy.

As a business priestess, Alexis helps you to keep your eyes open and stay conscious about these parts of your business.

With her wisdom and guidance, you will:

* Consciously choose a business model that’s right for you, based on your personal money map number and unique entrepreneurial archetype.

* With an aligned business model, you can then make the right choices about:

  • business entity structure
  • which coach or mentor is right for you
  • how to structure your team for maximum support and results
  • which tax strategies make the most sense for you
  • what kind of insurance you really need (and what you can forget about)
  • how to set up your financial systems so you can make smart decisions that capitalize on your opportunities
  • what opportunities to say yes to and when to say a clear no
  • creating partnership relationships that work and don’t end in fiery conflict and pain
  • stepping into the highest form of your great work, uncompromised by others expectations or conditioned perceptions of success
  • and so much more

Step into the confessional with business priestess Alexis Neely, unburden yourself and receive the wisdom & guidance that will change your life and business forever.

Year-End Numbers — Have You Looked at Yours Yet?

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2012-07-23 07.16.35What Do They Show About Whether Your Entrepreneurial Archetype is Aligned With Your Business Model?

This past Friday, I dove into our year end numbers with our financial team and it was quite an eye-opener.

Have you reviewed your year-end numbers yet? Your business model depends upon it.

Your year-end numbers can actually be fun to look at and it’s always illuminating, especially when you’ve got financial systems to track things properly.

So, here’s what I saw:

Over here at Eyes Wide Open HQ, 1/3 of our income came from sharing other people’s work with our community, with a full half of that from sharing Marie Forleo’s B-School. [We’ll be doing it again in a couple of weeks, watch for our business-changing bonus.]

1/3 of our income came from selling the LIFT and Money Map programs.

1/3 of our income came from providing group coaching via our Eyes Wide Open and Have it All programs.

This is a big shift from prior years when a big part of our income was made from me providing one to one private guidance. It’s something I do very well, but there’s a big energy cost for me.

Our business model is built around my Star Archetype, which if you listened to our New Year’s Eve calls you know means it must support creating and connecting.

I get burned out and grumpy otherwise.

We’re in the regular exploration of what that means and how it changes things from the traditional model we’ve learned and what you see regularly from other business folks around town.

If you are part of our Eyes Wide Open or Have it All Coaching programs, you get to see behind the scenes as we put this into affect on our All-Access weekly team calls.

We are the only online business that I know of that let’s you come behind the scenes and see how a mature business in transition (always) is really run.

3 Tax Saving Actions To Take Before the End of the Year If You Are In Business for Yourself

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In case you missed the call I hosted this year on the 3 tax saving actions to take before the end of the year, here’s a summary of the content. In the event that it’s too late for you to take action before the end of the year, use this as a guideline to get started early for next year.

It’s safe to say that if you are in business for yourself, you’d rather put money that would go to the government for taxes into your own business or into your family’s bank account, right?

The problem is, most of us don’t know how or we procrastinate too long to take advantage of tax saving strategies that can make a big difference on your bottom line.

If you’re ready to save money – be ready to act now. You can literally save thousands on your taxes by implementing these three simple actions before year end.

1. Meet with your tax advisor now – in the new year is too late.
Be prepared to provide year-to-date income and expenses PLUS projections for both through the end of the year. Make this appointment now so there is still time to strategize and implement.

If you miss the year-end deadline because you don’t have a tax advisor yet, use this as your incentive to get that relationship in place now so you can strategize next year right from the start. The best time to meet with your tax advisor is once in the summer months to pre-plan and then again at the end of the year to strategize your tax savings.

2. Open the right kind of retirement account and/or a Health Savings Account (HSA).
Pay yourself via your company payroll as a W-2 employee and then you can take maximum advantage of retirement account savings.  While you don’t need to fund your retirement account now, you do need to open these accounts before the end of the year if you want to be able to fund them with tax-free income that will impact this year’s taxes. You’ll have up until 4/15 to put the money into your account.

Talk to your tax advisor to find out what kind of retirement account is right for you now that you are in business for yourself. If you qualify for a Health Savings Account (you’ll need a high-deductible health insurance plan that is HSA qualified), get that open now, even if you don’t fund it immediately.

3. Live like an entrepreneur.
Consider how to maximize your deductions this year or whether to push some off into next year (if next year will be a bigger tax year) and do things like:

  • Hire your kids – Shelter up to $5,950 by hiring your kids in your business and they don’t pay taxes on that income.
  • Invest in development – Hire a coach, bonus your team and/or have an end of the year party for your clients to get your income down this year for tax purposes while building long-term value that will result in increased income down the road.
  • Transform out-of-pocket expenses into deductible business expenses – Structure them wisely, such as getting yourself booked to speak in the next place you want to take a vacation.

YOUR NEXT STEP:

For my personal guidance on your next steps and the wisdom, advice and hand-holding you need to take your business to the next level with the right foundation and support. (be sure to see all the details here).

Will Amazon’s Foray Into Publishing Lead to More or Less Sovereignty for Creatives?

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Last night, I sent an email to our subscribers (if you aren’t one, you can become one over there to the right and get on the waiting list for our project management course too) advocating that they buy Tim Ferris’ new book, the 4-Hour Chef.

I was supporting his book sales process not just because I like the book (I’ve got my copy and I do think it’s great, but then again I like a LOT of books), but because I saw it as a way to counteract the bullying from the 1,000 bookstores that boycotted his book because Tim chose to publish with Amazon’s new publishing division instead of a mainstream publisher.

One of our readers wrote in and said:

HI Alexis

“On this one I don’t agree with you.  Amazon are the bullies in the way
they operate. They aim to become the biggest retailer of everything and so
destroy high streets , independent shops and the web of community they
form an indispensable part of.  In the UK they pay almost no corporation
tax. Their power is immense and like Google they are beginning to use it.
Big is not always better and not in this case.

I’m really disappointed to see you supporting this .

In service of a sustainable and just world.”

That got me thinking.  Is Amazon’s foray into publishing a net positive for our sovereignty as creators or is what Jane has put forth here the truth and we need to stay clear in support of a sustainable and just world?

I’ve got my own thoughts about it, but before I put them down on paper (virtually speaking), I would love to hear what you think.

Let’s discuss in the comments below please.

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Core Values: Why Do We Care?

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Why waste your time defining your core values?

As a solo-prenuer it’s important to know your core values, so you know who you want to reach, who your tribe is. They help you remember why you’re doing what you’re doing when you hit hard times.

They also help you remember how you’re doing it. They keep you on the straight and narrow path so you’re not trying every idea that comes through your inbox.

Core values become a high leverage asset when you are building a team. They help you hire the right people, and ensure everyone holds the same compass points when the flurry of work would blow you off course.

Core values are universally true. Speed, for example, isn’t a core value because sometimes we want things to go slow. Simplicity isn’t either because sometimes we want things to be complex. They might be standards for certain processes, but core values are always true. This is why they are so important for teams, they are the flag you hold out ahead of the charge. This is what everyone keeps their eye on at all times. And without it, everybody is running around like a cowboy following their own code of values. You can have as few as three, but ten is hitting the upper limit.

Until we made this list, we were clear about the core values of transparency, accountability, sovereignty, and evolution. They are values that Ali and I hold for our lives. When our core team met with Giovanni, we unpacked these first four, and added a few more.

  • Show up naked. Be transparent.
  • Do your soul’s Great Work.
  • Lean into your edge. Invite feedback.
  • Bring your A-game, and make a positive impact.
  • Take ownership & stand accountable.
  • Be a model of sovereignty.
  • Get the important things done. Everyday.
  • Make it better. Yes, everything.
  • Pursue growth & learning.
  • Put the planet first.

Core values have played an instrumental role in some extremely successful internet companies. Here are a couple of examples:

Zappos:

  1. Deliver WOW Through Service
  2. Embrace and Drive Change
  3. Create Fun and A Little Weirdness
  4. Be Adventurous, Creative, and Open-Minded
  5. Pursue Growth and Learning
  6. Build Open and Honest Relationships With Communication
  7. Build a Positive Team and Family Spirit
  8. Do More With Less
  9. Be Passionate and Determined
  10. Be Humble

Mindvalley

  1. Support and Trust
  2. Results Generating
  3. Community
  4. Innovative
  5. Quality

We spent an hour and a half with Giovanni creating the first draft of our core values, and set a six month horizon line for finalization. Ali had a lot of resistance to the process and taking the time, because we’ve done these exercises before. But ultimately she saw how they fit into a larger vision of getting our work into the world.

The next step is to share these with our team, get their buy in, make sure we are a match, and make any adjustments needed to ensure we are building from our core. And then we will  integrate them into our hiring process, and develop questions and test assignments to screen for these core values.

Hopefully this gives you a broader perspective on creating and championing core values in your company. It’s more than rah-rah team spirit. It’s a way of being in the world, and with each other – both team & clients – that can make an incredible difference.

Do you have a set of core values? If so, please post them. If not, what are your initial hunches?


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