Mercedes BankstonManaging Director, Orange County

Financial wisdom and the need to make sure your Personal, Career and Financial

Goals are on the same page

Start-Up * Entrepreneur * Employee

Mercedes Bankston

Not a financial advisor or lawyer, so don’t construe anything I say for legal or financial advice.

Mercedes Bankston

Mercedes Bankston

Entrepreneur

Mercedes Bankston

Entrepreneur

Mercedes Bankston

Entrepreneur

Mercedes Bankston

- Frugal minimalist- Lived off one income and saved the other- Built their house in cash- Have a 401K- Social Security- Pension- Retired early

- Bought property- Stock Market- Invested in Students

Parental Influence

Opportunity

Mercedes Bankston

Mercedes Bankston

PERSONAL CAREER FINANCIAL

Mercedes Bankston

Mercedes Bankston

PERSONAL CAREER FINANCIAL

HousingTransportation CommunicationDaycareMedicalBasic Living Essentials

FoodClothingToiletries

Mercedes Bankston

Personal

Mercedes Bankston

PERSONAL CAREER FINANCIAL

Housing – 25%Transportation – 7%Communication- $90Daycare- $1200Medical- $300Basic Living Essentials

Food- 7%Clothing- 3%Toiletries- 1%

Housing – $1770-2479Transportation – $495Communication- $90Daycare- $1200Medical- $300Basic Living Essentials Food- 7%- $495 Clothing- 3%- $212 Toiletries- 1%- $70

Monthly Left Over: $2721 with child

$3951 without child

Mercedes Bankston

PERSONAL CAREER FINANCIAL

Housing – 25%Transportation – 7%Communication- $90Daycare- $1200Medical- $300Basic Living Essentials

Food- 5-7%Clothing- 3%Toiletries- 1%

Salesforce 1-1-1 ModelIntegrityEthics

Who are you? FollowerLeaderSales personOperationsFinanceCXOEntrepreneurInvestor

Equity events?Golden handcuffs?Salaried Employee?

Mercedes Bankston

PERSONAL CAREER FINANCIAL

HousingTransportation CommunicationDaycareMedicalBasic Living Essentials

FoodClothingToiletries

Salesforce 1-1-1 ModelIntegrityEthics

Who are you? FollowerLeaderSales personOperationsFinanceCXOEntrepreneurInvestor

Equity events?Golden handcuffs?Salaried Employee?

TimeHobbies Student LoansVacations 1x-4xPrivate Schools Vacation HomesLuxury Goods

Mercedes Bankston

PERSONAL CAREER FINANCIAL

HousingTransportation CommunicationDaycareMedicalBasic Living Essentials

FoodClothingToiletries

Salesforce 1-1-1 ModelIntegrityEthics

Who are you? FollowerLeaderSales personOperationsFinanceCXOEntrepreneurInvestor

Equity events?Golden handcuffs?Salaried Employee?

Personal + Career =

Financial

TimeHobbies Student LoansVacations 1x-4xPrivate Schools Vacation HomesLuxury Goods

Mercedes Bankston

FINANCIAL

Establish cost of a fully loaded employee:• Insurance (Healthcare, Auto, etc)• Conference services• Software Licenses (CRM, Task Management, Payroll, RainKing, etc) • Desk space• Phone Lines• Employee Happiness (spiffs, contests)• Salary• Taxes on top of Salary• Training

Full Time/ Part Time•Retired: Parents, Teachers, LinkedIn•Interns: Complex process, often free labor•Students: Part time, often desirable employees

Mercedes Bankston

FINANCIAL

OC Resources For “Job Seekers”

OJT pays 50% of On Job Training –

Previously used for: - Accountant- Bookkeeper- Sales- Receptionist- Marketing (SEO, SMM, Ghost Writing)- Lawyer

Secret: If you have a candidate that you wish to hire, place them on the OC One Stop List for OJT funds.

Mercedes Bankston

FINANCIAL

Contracts & Payment Terms

New Office : Cubicles, Conference Tables, Desks, printers

Wireless: Merarki wireless and security

Travel Expense Budgets:Cars/ mileage- Encourage Fuel Incentives (NGV/Elec)Communications- Pre-Paid vs. Post-Paid Phones, Conferencing Meals- $50.00 a day (Maximum of adult beverages)Hotels- $120.00 and less (Priceline, Hotels.com)Cars- $20 and less daily (Priceline)Airfare- Southwest (no-change fees)

Mercedes Bankston

FINANCIAL

Free Open Source Software: MySQL, SQLCRM Solutions: HubSpot, Salesforce, Open CRX, Zoho, SugarCRMMarketing Automation: Hubspot, Pardot, AWeber, MailChimp, Constant ContactTask Management: Pencil and Paper, Commit to 3, bambam, hitask, CRM, 17hatsProject Management: Trello, Todoist, 17hatsCellular Phones: Pre-paid vs. Post-paidWeb/Video Communications: Free vs. Paid (FlatFeeConferenceCall.com)Finance Software: Quickbooks, Freshbooks, 17hats (specialty apps- spreadsheets)Social Media Tools: Hootsuite, Moz, Commun.itVideo Editing: WeVideo, iMovieTravel Tools: XpenseTrkr, Trip IT, Uber/Lyft, AirBNB, Hotels.comRemote Workers: UpWork, Fiverr, CallRubyPhone systems: freepbx.com, 8x8, Ring Central, Intelliverse, InsideSales.comMerchant Processing: Braintreepayments.com

Mercedes Bankston

FINANCIAL

Insurance: (Errors and Omissions, Directors and Officers, Property, Automobile, General Liability, Specialty policies, Lloyds of London)

DropBox/ Cloud Sharing Services: UPGRADE!!!

Security Payroll- Paychex (W2, 10-99, access to insurance), ADP CFO: consulting for accounting software, long term debt, cash flow EXIT: 1 check, 1 exit

Mercedes Bankston

Risk Management Association Annual Statement Studies

Financial Ratio BenchmarksRMAHQ.org

Mercedes Bankston

PERSONAL CAREER FINANCIAL

HousingTransportation CommunicationDaycareBasic Living Essentials

FoodClothingToiletries

Salesforce 1-1-1 ModelIntegrityEthics

Who are you? FollowerLeaderSales personOperationsFinanceCXOEntrepreneurInvestor

Equity events?Golden handcuffs?Salaried Employee?

Personal + Career =

Financial

TimeHobbies Student LoansVacations 1x-4xPrivate Schools Vacation HomesLuxury Goods

Annual Statement

Mercedes Bankston

Conclusion