Jill Hendrix, owner of Fiction Addiction in Greenville, SC, and founder of Stress Less, a blog where she shares “tools and musings to reduce stress and increase joy,” presented her approach to “Keeping Your Expenses on a Tight Leash” in a recent SIBA webinar. The webinar was interactive throughout, with Jill asking booksellers to share about various financial topics, including financial stress, and goals.
Jill described her own journey from feeling great financial stress to getting her store’s finances on track and achieving a healthier work/life balance. She explained her path to a mindset shift and how this supported initiating positive changes in her business. Some topics covered:
Changing your attitude toward money, expenses, and profit
Sorting expenses into four “houses”: rainmaking, protection, productivity, consumption
Evaluating expenses to determine if they are achieving their goals
Involving community--employees, a working group of other business owners, your bookkeeper--in the process
Jill also offered quick wins, such as opening a new bank account and transferring 2% of every cash/check deposit into that account, and making a pruning date, by creating a repeating calendar entry “Prune My Expenses,” and allowing 3-4 hours for the process.
You can view the webinar here*
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Books she mentioned in her presentation:
- Profit First by Mike Michalowicz
- The One Thing by Gary Keller
- Essentialism by Greg McKeown
Here's a complete list of Jill’s recommended business books: