It’s Time To Stop Hoarding…

Nov 26, 2018Stories, Video


I did some digital housekeeping. I think it's really important to set time aside to do that and especially keep track of the stuff in your business, like your bookkeeping and making sure you're on top of your money.

Hey, it's Monica happy Monday the 26th, it's the Monday after Thanksgiving, 2018 and today I did some digital housekeeping in our business, so, you guys know my business partner and I were separating, which is, it's all friendly and good, but that means we should make a list of all of our assets so that our lawyer could say this one belongs to you and this one belongs to you and all that good fun stuff. And so we did this and I'm a little embarrassed because we might be domain hoarders. I don't know if we're the only ones with this problem, but we have so many domain names, I mean, so many! And so I was going through it, it was interesting because it's sort of like a list of all the things you never managed to do or that you didn't do.

So it's like this cool lists of like, “Oh yeah, that was fun when we did that. But it's dead now. It's over. That doesn't really work anymore.” Or like, “Oh, I was going to do that, but that never happened.” So we went through and right now this number will change. We have 297 domains to get rid of so that, if they renew at $10 a year, that's $3,000 a year almost, which isn't anything [inaudible] that, right? I'm literally going through all of those and choosing which ones to keep and which ones to get rid of. And some of them I still couldn't get rid of. I was like, “Something's going to happen with that domain. I just know it.” It's probably going to be five years later and nothing's going to happen with it and I should've just let it go.

But that's how I feel about it. I'm like, “No, some girls collect shoes- well I do that too- but I also collect domain names.” If I'm the only one telling me that I'm just crazy, but if not let me know because I would like to know I'm not alone. But anyway, so that's what I did today. One of the big things I did with some digital housekeeping. I think it's really important to set time aside to do that and especially keep track of the stuff in your business, like your bookkeeping and making sure you're on top of your money. We use a couple of tools for this and as I venture into my own world, I definitely am going to keep up the forecasting that we do. So basically we say- I don't want to sell this much of this product at this amount so that we can generate the revenue that way we know if we're hitting it or we're not.

If we're not hitting it, we adjust. If we're hiding it, we can sort of, maybe not do a promo or something, or work a little bit less, something like that. And then I use,, to do our budgeting. So forecasting tells me how much money I need to make. So actually I do the budget first and then I take the number from the budget so I put in all my expenses and how much I want to pay myself and all that good stuff. And I say, “Okay, this is the budget for what I want to do.” Then I go to my forecast and say, “Okay, how do I get to that number?” So that is how I go through those things and that's some of the more of the digital housekeeping. And then keeping track of expenses.

I'm in my new world. I'm actually going to just throw all my receipts. I'm going to take a picture of them and throw them in a Dropbox folder. We use Expensify right now, but we have a little bit more of a complicated system and I will tell you we've been audited. So, if that is something that concerns you, a fancier system where you can track down receipts easier if you do get audited, may help you. But for now, I'm just going to throw everything into Dropbox so they have all my receipts and I'm already in the habit of just, grabbing my phone, taking a picture and sending it somewhere. So I'm gonna go ahead and make that habit starting for the new business. And I'm pretty excited. So just getting a bunch of that stuff set up and going through all the assets and the memories of that.So much fun.

So if you're not doing digital housekeeping in your business, you might wanna think about starting. A good place to start is with your money and with your domains if you're domain hoarder, like me. We have, longstanding sites up that just need to go away. So I'll be working on some more of that anyway.

Let me know what digital assets you like to use for housekeeping. And if you do forecasting and budgeting, I'm curious because I know a lot of people don't, but I really encourage you to do it because it's fun when you hit your numbers and it's fun to know them. It helps me sleep better so I hope it does you too. Alright until tomorrow. And I'm going to give you an update on the Black Friday sales that I know about. I actually did not buy any. That's so strange but I didn't. So we bought a washer and dryer for our new house. but other than that I didn't buy anything. But Cyber Monday's not over so don't come out yet. Alright. Happy shopping. Talk to you tomorrow.