The 10 Rules of Finance from a Founder

Founders help founders. Period. 

It is so true and so obvious, and all of us at one point or another has absolutely been blind to it. But it's staring at us in the face! This network. The power of womanhood in biz. Motherhood. The mycelium - all of it. We are here to help each other grow. 

Alone in a sea of imposter syndrome, self doubt, and productivity, we need to remember that we are not alone in this. YOU are not alone. And as long as you make it a point to network and be in the room with other founders, you will always be supported. 

Why? Because founders help founders…. Yes you are getting it now!

Sooo on that note, we're excited to be sharing something special that OUR founder, Krista Ripma, made just for you.No, she's not a CPA. Simply a successful woman in business who has real world experience of climbing the mountain that is business finances.

 Krista's 10 Rules for Finance from a Founder (who didn't study finance!)

1. Set Clear and Achievable Goals 

→Start with your target: What do you want to achieve in terms of revenue for the rest of the year? Be specific. Write it down and let it serve as a visible daily reminder to you.

→ Break it down: Breaking down your target into smaller goals makes it more manageable and easier to track. These could look like milestones you set for you and your biz; checkpoints for you to keep tabs on so you can recognize when you're falling off track and need to adjust. Basically, we're not going to bite off more than we can chew.

2. Know Where You Stand 

→ Look at your current numbers: What have you earned so far this year? Knowing where you are (and where you've been) will help you plan where you want to go. 

→Q4 projections: Based on your current pace, what are you on track to make by the end of the year? Really understand how your projected revenue is aligning with your goals so that you can adjust your plan accordingly.

3. Identify Your Offers and Income Streams 

→List all your offers: Write down all the products or services you currently offer. Which ones are performing best and bringing in the most income? 

→ Spot opportunities: Refine refine refine. Is there anything you’re not pushing that has potential? Tap into every last bit of opportunity in your current offerings before expending energy into new projects. Use what you got!

4. Understand Your Profit and Loss 

→ What’s your profit margin?: For each offer, subtract your expenses from your earnings. This is your profit margin, which will help guide your focus towards the offerings with the highest profitablity.

→ Focus on the most profitable: Time to lock in. Which offers are giving you the most profit? Double down on those for Q4. 

5. Manage Your Cash Flow 

→ Money in, money out: Cash flow is how money moves through your business. Make sure you know when money is coming in and when you’re spending.

→ Prepare for growth: If you need extra funds to invest in growth, do you have savings or other sources of capital to tap into? 

6. Track Your Expenses 

→ What’s your minimum spend?: Figure out the basic expenses you need to cover every month to keep your business running. Knowing this baseline will help you be able to allocate funds intentionally.

→ Cut unnecessary costs: Are there any costs that you can reduce or eliminate to increase your cash flow? 

7. Keep a Weekly Check-in 

→ Money check-in: Set a time every week to look at your numbers—income, expenses, and upcoming bills. This habit will keep you in control and routinely keep you aware of mistakes or missed opportunities. 

→ Compare projections to actuals: Not so fun, but important. See if you’re hitting your financial goals or if adjustments are needed to stay on track. 

8. Balance Immediate and Long-term Action 

→ Quick wins: What can you do right now to boost your income in Q4? Focus on immediate actions that will move the needle. 

→ Plan for the future: Think ahead to next year. What foundation can you lay in Q4 that will set you up for growth in 2025? 

9. Investing in Yourself and Your Business 

→ When to invest: Sometimes, you need to invest in tools, marketing, or growth—even when the money isn’t guaranteed yet. But how do you decide when? 

→ Trust in your vision: If you believe in your business, investing in the right things will help it grow. It’s about weighing the risk but also trusting your gut and the potential of your business. 

10. The Mindset Shift

→ New business owners often hesitate to invest because the returns aren’t immediate or guaranteed. Shifting your mindset to see investing as a necessary part of growth is key. Whether it’s a new system, mentorship, or marketing—trusting yourself and your ability to make it work is crucial.

You don't need a finance degree to lean in and lead your business in a financially intentional way.

Simply start taking the steps today to develop financial literacy so that you can trust your gut, stay informed about your cash flow and make sure you're really being realistic about goals and investments. You're resilient. You're part of something bigger, and as long as you keep showing up, you'll never be doing this solo.

Cuz we've got you. Here's to your biz!