BONUS! Good Neighbor Podcast with Skip Mauney: Unlocking Financial Success with GIP Financials' Sonja Jones
From Chaos to Clarity: Unleash Your Business Potential
Release Date: 10/11/2024
Can Joining GIP Academy Change Your Business Forever?
From Chaos to Clarity: Unleash Your Business Potential
Can Joining GIP Academy Change Your Business Forever? Summary: In this episode of the From Chaos to Clarity podcast, host Sonya Jones interviews Torri Jones, founder of The Learning Group, a STEM consulting firm. They discuss Torri's entrepreneurial journey, the importance of financial management, and how GIP Academy has supported her business growth. Torri shares her experiences with bookkeeping, the lessons learned in tracking finances, and the benefits of being part of a supportive community. The conversation emphasizes the significance of knowing your numbers and investing in...
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Unlocking Grant Funding: Insights from a Grant Writer with Victoria Ravenel
From Chaos to Clarity: Unleash Your Business Potential
Unlocking Grant Funding: Insights from a Grant Writer with Victoria Ravenel Summary: In this episode of the From Chaos to Clarity podcast, host Sonia Jones interviews Victoria Ravenel, a nonprofit consultant and grant writer. They discuss the importance of understanding grant writing, the role of grant writers, and common myths surrounding grants. Victoria emphasizes the need for nonprofits to be grant-ready and the significance of data in securing funding. The conversation also touches on entrepreneurship, financial management, and the importance of investing in oneself and...
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[Live Q&A] Is Wave A VIABLE Alternative To QuickBooks For Small Businesses
From Chaos to Clarity: Unleash Your Business Potential
Summary: In this episode of the Chaos to Clarity podcast, hosts Sonja Jones and Jackie discuss the importance of accounting software, specifically WAVE, and its suitability for different types of businesses. They share best practices for using accounting software, the significance of access and security, and the implications of merchant processing fees. The conversation also highlights the importance of bookkeeping for tax deductions and when to consider hiring a professional bookkeeper. Additionally, they provide insights from a recent workshop on cash flow management and the foundational...
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Is Wave A VIABLE Alternative To QuickBooks For Small Businesses
From Chaos to Clarity: Unleash Your Business Potential
Is Wave A VIABLE Alternative To QuickBooks For Small Businesses Summary: In this episode, we discuss Wave, a cloud-based accounting software, with Jacqueline Mercer from Baldwin Financial Services. They explore who Wave is best suited for, its pricing structure, and the various features it offers, including invoicing, payment processing, and financial reporting. The conversation emphasizes the importance of understanding the software's capabilities and limitations, particularly for small businesses and entrepreneurs. The hosts also highlight the need for professional guidance when navigating...
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Avoiding Common Pitfalls in Grant Applications with Broderick Wamble
From Chaos to Clarity: Unleash Your Business Potential
Avoiding Common Pitfalls in Grant Applications with Broderick Womble Summary: In this episode, host Sonja Jones engages with Broderick Wamble, Community Affairs Officer at Simmons Bank, to discuss the importance of financial literacy, the intricacies of grant applications, and the support available for small businesses and home ownership initiatives. They explore the role of banks in community development, the significance of understanding one's financial position, and the common pitfalls in grant applications. The conversation also highlights the unique challenges faced by...
info_outline![[Live Q&A] How to be a Bankable Business with Chasity Monroe of Pink Noir show art](https://assets.libsyn.com/content/186618925?height=50&width=50)
[Live Q&A] How to be a Bankable Business with Chasity Monroe of Pink Noir
From Chaos to Clarity: Unleash Your Business Potential
How to be a Bankable Business Summary: In this episode, Sonia Jones interviews Chasity Monroe, the founder of Pink Noir, a beauty supply store in Memphis, Tennessee. Chasity shares her journey of starting Pink Noir to meet the needs of the community, the challenges she faced in securing funding from River City Capital, and the importance of financial preparedness and understanding one's numbers in business. The conversation highlights the emotional impact of receiving funding, the strategic approach to loan repayment, and the critical nature of financial literacy for entrepreneurs,...
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[LIVE Q&A] Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE
From Chaos to Clarity: Unleash Your Business Potential
How to be a Bankable Business Summary:In this live Q&A session, Sonia Jones and Latasha discuss the common tax mistakes entrepreneurs make, emphasizing the importance of proper bookkeeping and financial literacy. They cover topics such as mixing personal and business expenses, tracking cash transactions, underreporting income, and the significance of timely filing to avoid penalties. The conversation highlights the need for entrepreneurs to understand their financials to make informed decisions and avoid costly mistakes with the IRS. Takeaways: Mixing personal and business expenses...
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How to be a Bankable Business with Ron Brooks of River City Capital
From Chaos to Clarity: Unleash Your Business Potential
How to be a Bankable Business Summary: In this episode, the hosts discuss how to become a bankable business, focusing on the importance of financial preparedness, investment in time and resources, and understanding financial records. They emphasize the need for entrepreneurs to solidify their personal finances before starting a business and the significance of maintaining clear financial records to build trust with lenders. The conversation also covers key financial metrics that businesses should be aware of to ensure success and stability. In this conversation, the speakers discuss the...
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Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE
From Chaos to Clarity: Unleash Your Business Potential
Summary: In this episode, Sonja Jones discusses the tax literacy gap among small business owners and highlights the common mistakes they make when it comes to taxes. She emphasizes the importance of separating personal and business expenses, tracking cash transactions, reporting all income accurately, maintaining proper records to avoid missing deductions, and the consequences of filing taxes late. Additionally, she promotes GIP Academy as a resource for financial education and support for business owners. Takeaways: There is a significant tax literacy gap among small business owners....
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[LIVE Q&A] Tax Deductions You’re Probably Missing (And How to Claim Them)
From Chaos to Clarity: Unleash Your Business Potential
Summary: In this live Q&A session, Sonja Jones discusses various tax deductions relevant to small businesses, emphasizing the importance of understanding what qualifies as ordinary and necessary expenses. She covers deductions related to merchant fees, clothing, gifts, entertainment, and meals, while also promoting GIP Academy as a resource for entrepreneurs seeking assistance with bookkeeping and tax preparation. Takeaways: Ordinary and necessary are key terms for tax deductions. Merchant account fees are deductible expenses. Clothing can be deducted if it serves a business...
info_outlineWhat makes Sonja Jones with GIP Financials a good neighbor?
In this enlightening episode of the Good Neighbor Podcast, we delve into the remarkable journey of Sonja Jones, a former music teacher who transitioned into a financial expert and now runs a remote bookkeeping firm in Memphis, Tennessee. This episode is a treasure trove of knowledge for anyone looking to improve their financial literacy and streamline their business operations. Sonja's firm, Get In Position (GIP) Financials, offers a suite of services including bookkeeping, tax preparation, funding assistance, and financial coaching—all designed to help entrepreneurs understand their numbers and steer their businesses toward profitability.
Sonja Jones' story is one of resilience and transformation. Initially an educator with over 20 years of experience, she spent the first 12 years as a music teacher and the subsequent 10 years as the founding director of finance and operations for a local charter school. Her role required her to learn financial operations from the ground up, an experience that laid the foundation for her current expertise. During her tenure, she observed that many vendors lacked basic financial acumen, which inspired her to start GIP Financials. Her firm focuses on empowering entrepreneurs with the financial knowledge they need to succeed.
One of the key insights Sonja shares in this episode is the importance of differentiating between various financial roles such as bookkeepers, tax preparers, tax planners, and CPAs. Many people mistakenly believe that their tax preparer should handle their bookkeeping, which is not always the case. Sonja explains that each role has its own specialized functions and responsibilities. For instance, a bookkeeper manages day-to-day financial transactions, while a tax preparer focuses on preparing and filing tax returns. Understanding these distinctions can help businesses avoid common pitfalls and ensure they have the right professionals handling their finances.
Another highlight of the episode is Sonja's emphasis on the need for fundamental business finance education. According to her, 70% of entrepreneurs do not have a trusted financial expert, and of those, 64% do their own bookkeeping without fully understanding what they are doing. To address this gap, GIP Financials has launched a podcast called "From Chaos to Clarity," where they discuss the basics of bookkeeping and bring on entrepreneurs who have benefited from having a bookkeeper. Additionally, starting in October, GIP Financials will offer an online community called GIP Academy, which will provide monthly live teaching, quarterly one-to-one coaching, and an extensive library of webinars and teachings.
Sonja also shares her personal experiences and challenges, such as the difficult decision to leave a stable job in education to become a full-time entrepreneur. She recounts how an unexpected storm damaged her home, forcing her to dip into her savings and take on part-time work to make ends meet. These experiences have made her more resilient and better equipped to handle the ups and downs of entrepreneurship. Her story serves as an inspiration to others who may be facing similar challenges.
Outside of her professional life, Sonja enjoys spending time outdoors, particularly at Shelby Farms Park in Memphis. She also loves road trips, whether it's visiting her church in Fayetteville, Arkansas, or driving to Atlanta to see her son. These activities help her clear her mind and reset, which is essential for maintaining balance in her busy life.
For those interested in learning more about GIP Financials, Sonja mentions several resources. The firm's YouTube channel offers a wealth of content on financial topics, and their website provides detailed information about their services and upcoming GIP Academy. They are also active on social media platforms like Instagram, Facebook, TikTok, and LinkedIn, making it easy for entrepreneurs to stay connected and informed.
In summary, this episode of the Good Neighbor Podcast is a must-listen for anyone looking to enhance their financial literacy and improve their business operations. Sonja Jones offers a wealth of knowledge and practical advice, making complex financial concepts accessible and understandable. Whether you're a seasoned entrepreneur or just starting out, this episode provides valuable insights that can help you achieve financial success.
To learn more about GIP Financials go to:
GIP Financials LLC
901) 451-9649