As I'm looking at your numbers each month, I'm seeing some really good opportunities. Your revenue is solid, but there are definitely some areas where we could tighten things up, and you'd get to keep more of what you're earning.

My role is to keep your books clean and get you these reports each month, which is a strong foundation. But actually using these numbers to implement changes is not a service I offer.

I have a colleague here in San Diego, her name is Kim, who's a financial coach. She works with business owners to look at their financials and create a plan for what to do with what they're seeing. Then she helps them implement it so it actually happens, instead of just sitting on a to-do list.

I think you'd really benefit from talking with her, especially since I'm seeing some spots where small changes could make a big difference for you. Would you like me to introduce you two?

Questions you can ask business owners to see if they might be a good fit for financial coaching:

• "Are you setting aside money for taxes as you earn it throughout the year?"

• “On paper, your business showed a profit this year, but that doesn't always mean it felt that way day to day. Did you have any periods where cash felt tight or unpredictable?”

Things to look out for are someone who:

• Owes more than expected, and was not saving for taxes

• Has commingled personal and business expenses

• Is paying ongoing credit card interest that is showing up in deductions

• Feels surprised by how high their expenses were, and can't explain where the money is actually going

  If you come across a client who fits this profile, you can say,
  "I know someone who helps business owners with [saving for taxes throughout the year, separating business and personal expenses, paying less in credit card interest, etc.]. Can I introduce you to her via email?"

Prospective (or current) clients may be a good fit if they:

• Want support with budgeting, paying off debt, or building savings

• Need accountability to follow through with their money goals

• Make good money, but seem to spend it all every month

Here are a few situations you can listen for that would make someone a good referral for me, and what you can say.

• If someone is approved for a loan and says, “There’s no way I can actually afford that” or worries about being house poor, you could say:

  • “A lot of people are surprised by how big of a loan they qualify for, and aren’t sure if they can actually afford it. I know someone who can help you understand what your monthly payment would really look like in your budget. Can I introduce you to her?”

• If someone doesn’t qualify yet or is at a higher rate than they want due to credit card debt, you could say:

  • “If you want to focus on improving your credit before buying, I know a financial coach who has helped her clients pay off thousands in credit card debt. Can I introduce you to her?

• If a client closed on a home and is concerned about fitting a higher monthly payment into their budget, you could say:

  • “When we were going through the process, you mentioned being a little worried about how this payment would feel in your monthly budget. Now that you’ve closed, if it would be helpful to get support incorporating it into your budget and planning for home-related expenses, I know someone who helps people with exactly that. Can I introduce you to her?”