How She Invests: An Interview with Lisa Savage

| Business Basics, Interviews, Small Business

With all of the options online these days for training programs and tools, it can be difficult to discern which is best for your business. That’s why I created the How She Invests in Her Business series. My hope is that the insights you read from these smart & savvy women help you decide how to make smarter financial decisions so you can stay in business for a looooong time. To kick it off, I thought it would be fun to start with myself. In the following interviews, you’ll hear opinions from other entrepreneurs like Becca Tracey, Halley Gray, and Adrienne Dorison. Happy reading!

HOW YOU INVEST

What investment has made the most impact on your business? What was the impact it made?

I took a bookkeeping business course because I knew the skill of bookkeeping really well but didn’t know how to run a bookkeeping business. The course helped me create and place healthy boundaries between me and my clients. It also helped me become organized with scheduling client work.

What’s one investment you’re thinking of making right now?

I want to take a course in payroll because it’s the last course to receive a designation from the Knowledge Bureau in Alberta. This is the place where bookkeepers can go and learn new skills.  

Before you decide to invest in something for your business, what do you do?

With the example above, I’ve been waiting a long time. But typically, I consider three things: my cash flow, my expenses, and future income. I’m a saver. I save my money, and now that I think about it, I’ve saved enough to go take that course.

What has been your experience with hiring your first team member / contractor?

When I hired my first contractor, I knew there were other people who could do my marketing better than I could. However, to be honest, I didn’t do what I tell other entrepreneurs to do. I went over my budget because I really wanted to have someone who knew what they were doing.

Actually, I ended up working harder to cover that extra expense, but it ended up working out in the end.

What position, if any, are you planning on hiring next? (CPA, bookkeeper, graphic designer, etc.) Why?

If I were to hire someone next, it would be a “partner relationship,” like another bookkeeper or an accountant. That way, I could handle more clients and offer a more streamlined service.

WHY PEOPLE INVEST IN YOU

Who do you think your monthly bookkeeping service is a good investment for? Why?

It’s good for the entrepreneur who doesn’t want to manage their books but wants to know the important details of what’s happening financially in their business. Typically, they’re within their first year and have just passed the 30k minimum. That’s where I come in. I help them get organized and take tasks like entering data off of their plates. The only thing I want them to be concerned about is how much money they’re making.

How do you use what you teach in your own business / life?

When I first started my bookkeeping business, I learned a lot. I went through a lot of experiences where I had to invest in myself because I made mistakes with clients or hiring.

That’s why I want to help other entrepreneurs be smarter with their money and spend wisely.  

I teach my clients how to be organized with their bookkeeping, and that comes from being really organized myself. Finally, I teach my kids to save their money first, and they’ve learned to pay for things they really want on their own.

HOW YOU INVEST IN OTHERS

How do you give back to your in-person community?

I volunteer at my children’s school for events. And I play the flute at school with the kids, too.

Now that school has ended, I volunteered to join an adult band of amateur musicians that plays at various community events.

In what other ways would you like to give back?

There was a time where I was a volunteer tax preparer for the Centre de Benevoles of Cowansville. That’s one activity I would want to do again. However, I’m a part of the knitting group there, and I’m making shawls for one of the retirement homes in town.  

BE VIRTUAL FRIENDS WITH ME

I hang out on the social channels below. If you join my email list, you’ll get access to my free library of bookkeeping resources for the small business owner. Come say hi 🙂 

 

 

 

 

 

 

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