Let me paint a picture for you:

You’re sipping your third latte, surrounded by a tornado of receipts, desperately googling “what the heck is a profit margin?” while your passion project gathers dust in the corner. 

Sound familiar?

If your relationship with money is more “it’s complicated” than “happily married,” you’re in the right place.

Welcome to the second rhythm in our Summer Refresher Rhythms Series – Financial Rhythms! (Don’t worry, I won’t make you do the cha-cha with your calculator.)

If you caught my first installment on CEO Time, you’re already on your way to thinking like a boss. Now it’s time to tackle the topic that makes many creatives break out in hives: F-I-N-A-N-C-E-S. (Deep breaths, we’ll get through this together.)

Signs Your Creative Business Needs Money Rhythms

Here are some signs you need financial rhythms in your life:

• You don’t have a budget. Your idea of budgeting is crossing your fingers and hoping your don’t overdraft.
  
  
• You still believe in the starving artist myth. You think financial struggle is a badge of creative honor. Spoiler alert: It’s not. Great art can (and should) come from a place of financial stability.
  
  
• You dread taxes. Tax season turns you into a receipt-hoarding hermit, desperately googling “what counts as a business expense?” at 2 AM every April 15th.
  
  
• You have no idea how to price your offers. You price your work based on a gut feeling (and often underprice).
  
  
• You don’t speak “finance.” The jargony words “profit margin” make you want to hide under your desk.

Sound like you? Don’t worry – we’re about to change all that!

What are Financial Rhythms?

Think of financial rhythms as your business’s heartbeat. They’re the regular, consistent practices that keep your money flowing smoothly, like a well-oiled machine.

From daily expense tracking (yes, that $5 latte counts) to annual profit planning, these rhythms ensure your business stays financially fit without you losing your creative spark.

More Than Just Numbers

Embracing financial rhythms isn’t about becoming a math whiz. It’s about:

• Clarity: See exactly where your money’s going (and growing)
• Confidence: Make decisions based on facts, not fear
• Control: Steer your business towards profitability, not just survival
• Creativity: When finances are under control, your mind is free to create

Financial rhythms aren’t about restricting your creative flow. They’re about providing a solid foundation that supports and amplifies your creativity. By mastering your finances, you’re giving yourself the freedom to focus on what you do best: creating amazing work.

Why Every Creative Business Needs Financial Rhythms

Let’s get real for a second. You’d rather be elbow-deep in your latest project than eyeball-deep in spreadsheets. I get it. But here’s the truth: mastering your finances is the difference between a thriving business and a really expensive, glorified hobby.

Financial rhythms are your pathway to:

• Ending those sleepless nights worrying about how you’re going to pay for your business expenses
• Transforming overwhelming financial data into actionable business insights
• Building a sustainable business that supports your creative vision (instead of draining your savings)

By breaking down financial tasks into regular, manageable rhythms, you’ll turn the daunting mountain of money management into a series of small, conquerable hills. No more procrastinating on bookkeeping or panicking at tax time.

The 5 Financial Rhythms Your Creative Business Needs

Managing your finances doesn’t have to be a nightmare. By establishing a set of regular financial rhythms, you can keep your money in order and ensure your creative business thrives. 

Here are the five types of financial rhythms and sample tasks to keep your finances organized and your sanity intact:

1. Daily Rhythms
   • Track expenses (it takes 2 minutes, I promise!)
     • Keep an eye on every penny spent. Use apps like QuickBooks or a simple Google Sheets or Excel spreadsheet to log daily expenses, so you always know where your money is going.
   • Celebrate every sale (cha-ching!)
     • Recognize each sale as a win.
       
2. Weekly Rhythms
   • Review Your Income
     • Set aside time each week to review your income so you can easily spot trends and make informed decisions.
   • Follow up on unpaid invoices 
     • Skip the stress of chasing down long overdue payments by regularly checking and following up on outstanding invoices as soon as the due date creeps up. 
       
3. Monthly Rhythms
   • Create and Stick to a Budget
     • Allocate funds for supplies, marketing, and other essentials. 
   • Balance Your Books (make those numbers match!)
     • Keep your accounts accurate by comparing your records with official statements.
   • Pay Yourself!
     • Don’t forget to compensate yourself for your hard work.
       
4. Quarterly Rhythms
   • Tax Preparation
     • Set aside time each quarter to organize your tax documents and review your estimated tax payments. This ensures you’re always prepared and can avoid last-minute tax season stress.
   • Analyze Trends
     • Look for patterns in your financial data to identify money-making opportunities.
       
5. Annual Rhythms
   • Set Profit Goals (dream big, plan smart)
     • Establish yearly profit goals and plan for major expenses.
   • Adjust Pricing
     • Evaluate and adjust your pricing based on your expertise, time, value, and industry standards.
   • Plan Your Next Big Move
     • Think about where you want your business to go, and adjust your money plans to match.

COO Tip: Start small. Even 5 minutes a day can help you wrangle your finances! Master these financial rhythms, and your business will stay on track and be ready to grow. Even if you’re number-phobic, still haunted by high school algebra, or usually avoid money talk like the plague, you can still take control of your finances and see your creative business thrive.

Busting Financial Myths: What’s Really Holding You Back?

As creatives, we often face internal resistance when it comes to managing finances. These objections can feel like roadblocks, but they’re actually opportunities for growth. 

Let’s address some common concerns and myths that may be keeping you from taking control of your business’ financial health:

“I’m an artist, not an accountant!”

Reframe: Your creativity is an asset in finance too. Approach money management as another form of problem-solving and design. Many artists find unexpected satisfaction in mastering this skill. Just as you experiment with new techniques in your craft, allow yourself to explore financial management with curiosity and creativity.

“Numbers kill my creative vibe.”

Perspective Shift: Strong finances actually fuel creativity by reducing stress and providing resources for your projects. Think of it as creating a stable foundation for your artistic vision. When you’re not worried about paying bills, you have more mental space for creative exploration. Financial stability can lead to creative freedom.

“I don’t have time for this!”

Reality Check: Understanding your finances is a non-negotiable part of business ownership. While you may eventually bring in experts like bookkeepers, accountants, or even a CFO, it’s still your responsibility to understand your numbers.

Here’s why:

• You make better strategic decisions when you’re financially literate.
• You can effectively communicate with and oversee financial professionals.
• You’re less likely to fall victim to financial mismanagement or fraud.

Start small now, and as your business grows, you can delegate tasks – but never delegate understanding. Your time investment in financial literacy will pay dividends, whether you’re handling the books yourself or overseeing a financial team.

COO Tip: You do have time, it’s called CEO Time and you just carved out at LEAST an hour in your week. What better use of your CEO Time than to dive into your creative business’ financial health?

“What if I mess it up?”

Growth Mindset: Making mistakes is part of the learning process. Start small, learn big! Everyone makes financial missteps – even seasoned entrepreneurs. The key is to view each mistake as a valuable lesson. Begin with simple tasks like tracking daily expenses or reviewing your monthly income. As you gain confidence, you can tackle more complex financial tasks.

Keep in mind, financial literacy is a journey. Each step strengthens both your business and creativity. Embrace the process, celebrate progress, and watch your financial confidence grow alongside your success as both a creative and a business owner.

Your Financial Rhythm Action Plan

Ready to rock your finances? Here’s your plan to get financial rhythms up and running:

1. Choose one daily and one weekly rhythm to start with
2. Set up a simple tracking system (spreadsheet or app – your choice)
3. Schedule a monthly “Money Date” with yourself (make it fun – add a latte or wine!)
4. Find an accountability buddy (financial fitness is more fun with friends)

Remember, feeling in control of your finances is a journey, not a destination. Every small step gets you closer to a future where you feel comfortable with your money.

Taking It Further

Craving even more business finance wisdom? You overachiever, you. Click here to check out the full-length blog post for an in-depth exploration of financial rhythms and advanced strategies. It’s like the director’s cut, but for your money.

Money management is just one piece of the creative business puzzle. It supports and leans on all the other rhythms we’ll be covering in this 8-part series. Stay tuned for more business-boosting insights that’ll make you feel like the creative CEO you were born to be.

Feeling fired up about financial rhythms? That’s just the tip of the creative business iceberg.

Here’s the thing: Art school taught you the creative skills, but left out the manual on how to turn your masterpieces into a thriving business.

That’s where “Business Building for Creatives” comes in.

It’s the course I wish I had when I was starting out – the one that teaches you everything from finances to marketing magic, client experience to productivity hacks.

Think of it as your backstage pass to:

• Transforming your passion into profit (without selling your creative soul)
• Building a business that runs like clockwork (even when you’re in creative la-la land)
• Attracting dream clients who value your work (and pay on time!)

Don’t let your creative passion dwindle because you’re stuck in entrepreneurial overwhelm. Your creative business is waiting to be built – and I’ve got the blueprint.

Ready to graduate from starving artist to creative CEO?

Summer is the perfect time to dive in:

• Use the slower summer months to build your business muscle
• Implement new systems before the fall rush hits
• Step into the next season with a rock-solid foundation (and maybe a tan)