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16: How to Prepare your Business for a 7-Month Sabbatical with Jereshia Hawk
Manage episode 452229866 series 3556797
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In this episode of Harmonious Wealth, Jereshia Hawk discusses her year-long sabbatical from her business and the financial preparedness required to take such a break. She shares her journey of building her business and prioritizing profit, living below her means, and budgeting for leisurely spending. Jereshia emphasizes the importance of knowing your owner's intent and aligning your financial goals with your desired lifestyle. She also highlights the significance of self-control and letting go of ego when it comes to personal finances. Overall, the conversation provides valuable insights into achieving financial stability and creating a sustainable business. In this conversation, Jereshia and Iyanna discuss the importance of financial stability and how it relates to taking a sabbatical. Jereshia shares her personal journey of overcoming financial struggles and creating a healthier attachment style to money. She emphasizes the need to live below your means and prioritize profit in your business. Jereshia also explains how she prepared her business for her sabbatical by standardizing her offers and operations. She provides practical advice for testing your business's ability to function without you and creating processes to reduce owner dependency.
Takeaways
- Prioritize profit in your business and live below your means to achieve financial stability.
- Create a budget and allocate a percentage of your profit for leisurely spending.
- Know your owner's intent and align your financial goals with your desired lifestyle.
- Practice self-control and let go of ego when it comes to personal finances.
- Automate your money management using apps like Copilot or Quick and Simplify. Live below your means and prioritize profit in your business.
- Test your business's ability to function without you by taking short breaks and documenting the problems and decisions that arise.
- Create processes and standardize your offers and operations to reduce owner dependency.
- Assign every dollar a purpose to ensure financial stability and avoid arbitrary spending.
- Strive for a harmonious balance between your personal life and your business, where your business supports the fullness of your life.
Learn more about Jereshia:
- Jereshia Said Podcast - Full episode about sabbatical
- Follow Jereshia on IG!
- Check out Jereshia's Website
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