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Starting an online teaching business is an amazing accomplishment that you should feel proud of. To make sure you’re reaping all the benefits of your business, its essential to take control of your finances. 

But if accounting has never been one of your strong suits, where do you begin?

Welcome to Anomalous Educator, where each week award-winning entrepreneur Ray Blakney, sets out to explore the world of education and online business with the help of successful professionals. 

If you’re ready to learn more about the accounting side of running an online business, then this is the episode for you.

In this episode, I speak with Meryl Johnston, founder and CEO of Bean Ninjas, an accounting company that caters to digital entrepreneurs, influencers and online businesses.

Meryl started Bean Ninjas with her partner four and a half years ago because she wanted to do bookkeeping and financial services for non-traditional businesses. 

She was an avid surfer growing up, but when she realized being a professional surfer wasn’t in the cards for her, starting a business was her Plan B.

In our conversation, Meryl details the five financial components she says are essential to focus on when you’re running a non-traditional business like selling online courses. 

By following her detailed advice, you can take the stress out of handling your finances and focus on other aspects of your business. 

Also within this episode:

  • How Meryl chose the name Bean Ninjas
  • How her childhood let Meryl to want to run a business one day
  • How Meryl and her partner started a business with $1000
  • Why Meryl prefers Xero
  • How to get your first clients through networking
  • The 5 components in Meryl’s financial framework
  • The difference between a Balance Sheet and a PNL
  • The future of Bean Ninjas

Links:

Meryl on LinkedIn

Bean Ninjas

Xero Accounting Software

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