keep on top of your finances

Free Profit & Loss Template Spreadsheet

Entrepreneurs! Be more clear about your finances to reduce fear & overwhelm, with this incredibly simple P&L spreadsheet.

You're not an accountant ... but you know you need to be more on top of your finances.

As an entrepreneur or small business owner, not being on top of the money coming in and the money going out can increase your stress levels. I've made a completely free and very simple Profit & Loss template, and an explanation video to tell you how to use it.

It'll allow you to be more in control of your income and outgoings.

How to use the Profit & Loss template

1. Watch the explainer video

Take a look through the video. It’ll show you how to use the profit & loss template in your business. It’s only a few minutes long.

2. Download the spreadsheet

Next, hit the button below to download it onto your computer.

3. Import it into your spreadsheet software.

It’s in Microsoft XLSX format, which Google Sheets is perfectly OK to work with. If you’re using Google, create a new Sheet, Click File -> Import and then click Upload.

4. Slowly fill it out.

You don’t have to be ultra perfectionist about this or go from zero to hero in one step!! Just fill it out over maybe a week. It’ll give you time to get used to it.

Why you should bother with profit & loss

Reduce stress and overwhelm

When you don’t know how your finances will pan out, it’s deeply uncomfortable, and creates a huge amount of fear, and stress. You just don’t know what’s coming down the line and whether you’ll remember to budget for it, or even if you’ll be able to afford it.

With a small amount of planning, these fears disappear and you’ll feel less overwhelmed and confused.

Plan for the future

Business is about generating money, but how much, and how? It’s difficult to price your services and products with no financial plan, but a simple profit and loss spreadsheet will allow you to work out your business finances.

Build sales forecasts and goals

“How much do I need to sell?” Is a question I hear regularly in coaching. And it’s an important question to answer! But without your finances in front of you, how do you know?

The profit and loss template will allow you to answer these kinds of questions.

Answer questions about the future

You might wonder whether you can afford your yearly hosting bill, or if you can afford to take a business trip to see a client.

If your finances are all clear, you can get answers quickly by adding a new row in with these expenses, and see what happens to your finances.

Why you're not doing any financial planning

Fear of the answers and the future

Sometimes, we’d rather not know the answer to questions and we become stuck between “I need to know” and “what if I don’t like the answer”.

Typically, I find that once we know though, we can plan and make decisions to reduce the concerns we have.

Need to get the financial data

It can be deeply uncomfortable for some personality types, and minds (like ADHD individuals) to get the data. But, by keeping this P&L simple, it encourages you to focus just on the most important and top level financial information.

This isn’t a P&L for accounting in a business, but it’s for a business founder to simply start planning.

Avoidance of all financial matters

Some personality types and brain types have a deep dislike of finances. Using a very simple system like this can help you to grow in confidence and reduce the avoidance that you might have experienced in the past.

It’s seemed too complicated

Totally. I get it. When you’re getting going, it’s difficult.

So, I’ve kept this really, really simple for you, and even given you an explainer video to help you get started. Just get going – in a few months this will be simple and comfortable and you’ll have reduced the level of overwhelm you feel.

All of us work IN our businesses, but many don't work ON them regularly. What's the difference? And why does it matter?

When you're completing day-to-day tasks, you're working in your business. When you're planning and strategising - the big picture - you're working on it.

Purely working in your business can cause you to float along, hoping it'll be successful. Instead we can design our future and find the paths to lead us there. Financial planning is a key element of designing your future and reducing stress and overwhelm.