Small Business Finances feat. Tracey Bissett | Big Picture Business Podcast EP 62

Small Business Finances feat. Tracey Bissett | Big Picture Business Podcast EP 62

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They get this idea of like, I'm going to become a millionaire. I'm going to earn a million dollars and then suddenly I'm going to own a private jet and a Lamborghini and Ferrari and, you know, maybe they can get a bit of reality checked and live within your means. Welcome back to another episode of The Big Picture business podcast. Thank you so much for being here with us today. We have another incredible guest Tracy Bissett is here. Hi, Tracy. Hello, and thank you so much for having me. I'm really excited

for our chat. Yeah, same. We're really excited that you're here. You're in Canada. Is that right? It is. I'm in Toronto, Ontario in Canada. Nice. How's the weather was pretty good until today. Today I had my mittens on and I actually had my hat on because it was right at freezing mark this morning.

I kind of like the cozy weather. I'm really in the sweater weather about you. Right How you doing? Good. Good. Yeah, I mean falls great. Like you said you get to put on the sweaters and get all cozy and enjoy the the leaves turning. Yeah, wonderful, beautiful colors.

This is the first year of being out in the Boulder Colorado area that I really got to see the Aspen's turn. It's so beautiful. I feel like I'm in a different world. It's very cool. Anyways, since all of you listeners wanted to know all about that, let us talk about Tracy. She is super, super cool. I was really digging through her website and everything she's got going on is really empowering and inspiring. And so very, I'm gonna go ahead and let you introduce her.

Tracy Bissett is a former executive at TD Bank, which is one of Canada's big five banks. And she's worked with and in support of 1000s of individuals and entrepreneurs to secure the financing that they need. And combined with that experience, and her formal education, which is a Master's of Business Administration and Chartered Financial Analysts positioned herself uniquely to coach all things about money. We're going to be talking about money today. And Tracy is also a silver award winner for the IFS II Institute Award for financial literacy champion and honored to have you here. We're really looking forward to getting your view on on money, and then how you can share with our listeners. I think we're going to talk about

some of the Biggest Mistakes Business Owners Make, right? Absolutely. What I want to know Tracy, why money? How did money become the big interest for you? I love money. So I want to put that out there right away. And I have loved money since I was a little kid at the age of I would say six, seven years old. Was the summer I went to my Mom, can I have some money to go to the corner store? So on the Monday she gave me 25 cents to go get my candies and slushies and whatever I wanted, I went back on Tuesday, can I have some more money? And she said no, we have money Tracy, but not for you to go to the store every day. So my friend and I, we went outside and we were brainstorming ways that we could make money. So we'd have little garage sales with seller toys, we'd have little clubs, we would create and charge kids to come play in our club, we would have these made up lessons like for skipping and tennis and even created a neighborhood newspaper that we would interview our neighbors and then write about what they told us and get our dads to photocopy them, then go sell them back to the same people who gave us the interviews. So very enterprising. And so I learned

that like seven years old that money is the thing that can help you get what you want, whether it's something or it's an experience, and my dad was a banker. So I grew up in a household, we talked about money pretty regularly. So I have a really logical unemotional relationship with money, which is not the norm. And I've always had that nice relationship with it. So always known if you want to make money, there's always a

way you just have to think about it. You might have to be a little bit creative, but you can always get the things that you need logical and unemotional. I love that that really resonates with me very well. That's not how most people think about money. It's more of a gut

reaction. And there's feelings and your views about money form when you're five to seven years of age. And so I've had a little girl five years old, tell me money is evil. Imagine what was going on in her household, she probably doesn't really know what money is. And that's impacting her whole view of the world. And that stuff stays with you, no matter how old you are, unless you do some work to change your your reactions in your relationship to money.

Yeah, that early imprinting. Wow, I've heard that certain language around money Absolutely. In in the early developmental years for sure. Like, rather than saying we can't afford that right now, or we, you know, that's just not something we need right now. I mean, just slight, slight word

differences can make such a significant impact. Absolutely. It's been a long standing relationship with my love of money. And I encourage business owners to make as much money as they can. Because I want them to be hoarding piles

of money unless that's what they want to do. But when you have when you're making money and you're profitable, you have the ability to be flexible to do the things you want. You can make all kinds of choices. You can give back your time your money you can have hire people and create jobs in your community. There's so many options available when you make money. So I encourage everybody to make as much as they can.

I want to ask you about money and respect a little bit, because I see time and time again, where people will just drop change on the ground and just kind of look at it and go, Hey, it's a penny, or it's a nickel, forget it. If I see a penny on the ground, I don't care how gross it is. I don't care if it's been, you know, if it's stuck to gum, I'll pick it up and figure it out like a penny. I'm a I'm a penny more wealthy. today. I'm taking it. Maybe I take it to the extreme on that. But in terms of money and respect, have you found in your experience in your line of work? Is there like a commonality between successful business owners and respecting money? Have you seen the money mindset? And where that's really important? What does that look like in your career? Absolutely, I've seen it regularly. And I'm like you, I'm

going to stop and pick up a nickel or corner. And certainly those who are really successful, they have an understanding of their financial results, they're very conscious and aware of where their money is going. They don't necessarily have an abundance mindset all of the time, because it's from a place of scarcity of what's been going on in their family over generations. People who are wealthy don't necessarily look

wealthy, they are wealthy, because they actually manage their money. And they know all the places that it's going, and they don't feel the need to to put it all on display, like other people who may look wealthy, but who are in fact, not not at all. And they may actually be on the brink of one miss paycheck from things not going well. So I think, you know, it's very important not to judge someone's wealth by how they look. And really, it's only getting to know them that you can really understand their story.

I think there's a lot of business owners, entrepreneurs, especially the ones that are just starting out, they get this idea of like, I'm going to become a millionaire, I'm going to earn a million dollars. And then suddenly, I'm going to own a private jet and a Lamborghini and Ferrari and, you know, every like everything all at once, it doesn't work like that. It's super imposing something where people who have, you know, maybe $100 million are living that lifestyle, not a million dollars. And so I think there's the skewed mindset and concept around them. So maybe you can speak to that a little of what that looks like and how people who have had that viewpoint, you know, maybe they can get a bit of reality check and live within your means. Huge reality check. And the thing too, that is happening,

people are hyping their sales all the time, I had a launch that did this, I need sales of this, it doesn't really matter what your sales are, it only matters what your profit is. Because maybe you did have a million dollars in sales. But if you lost $100,000, you're definitely not getting that private jet. I typically work with business owners sales are under $2 million dollars, I would say across all different industries. 85% of them are pricing on profitably. So I don't not only are they not getting like the fancy sports car and having private plane, they're not even getting regular paychecks. And they're in this harsh reality of what's going on. I thought that if I sold some things, this was all going

to magically work out. It's about getting to know your numbers, making sure you're going to make some profit charging for your time is another big one, which a lot of entrepreneurs are very lacks at they think they have lots of time. So they'll just do more stuff without really accounting for it. And then that reality and the fantasy kind of merges together and is a harsh reality for them. So where should someone start when looking at

their money. So number one, they should be assessing their products or their services to see if they are profitable. And we've got to make sure we cover the costs that are variable, the ones that we incur, because we actually sell something, then we've got to cover the fixed costs. So if we have a premises and we pay

rent, our landlord doesn't care if we make any sales, we've got to pay them no matter what, make sure we're covering our time in there, whether it's a fixed or a variable cost, and then make sure there's some allowance for profit. I think, especially when I work with business owners, if we can't figure it out on paper really quickly, we're making it too complicated. So there's this myth out there that numbers are complex, and it's so hard and you can never figure it out if you're not good at math. But if we can't get to the bottom of the the crux of the business on paper, we're probably making it too complex. So we got to start

with the basics. But looking at the profitability is key. And then we've got to make sure is what we're offering are the people we offering it to are they the right people, and really take a hard look at that. Because we might need to just shift our audience a tiny bit. And we're going to target another group who sees the value in what we're offering and is willing to pay the amount work we're wanting to charge what comes up kind of with the mindset stuff, the respect stuff is all those insecurities we have as a business owner where maybe we don't actually articulate the real price or semester charge, and we might know it and we might have worked out the math, then it's all about the execution. And if we can't stand confidently in delivering the value in articulating how much it is to work with us, we're run into problems every day of the week when that happens. I want to give you the award of the big picture business master already. Because everything you're saying is exactly When I

talk about I mean, every day, we're like preaching this and like, well, we can just tweak the audience a little bit. We've got to know your numbers. I, I preach it all the time. If you don't know your numbers, where are we? I mean, it's, it's impossible to understand how we're going to make some profit here, right? Well, it's super stressful because you I see it, I can only visibly see something weight sitting on their shoulders, even when we're on Zoom meeting and their strain and their stress and that permeates every area of your life, your physical health, your mental health, all your relationships, even in your relationships with your customers, because you've always got half your mind on Oh, my gosh, am I going to have enough money? Is this going to clear and we're going to be able to pay that we'll be able to collect those payments. And as

soon as you get a handle on your numbers, if you do have a problem, you can actually get on to solving it and quantify it and proactively make plans versus this unknown imaginary problem, that's usually worse than the actual result is. So once people actually get a handle on their numbers and can quantify it, and actually take a forward step, you can just see the pressure just lift right off, and they seem so much lighter, happier, and they're more creative and whatever. They're actually good at doing. Yeah, I can, yes, of course, that's obvious, right? But I'm sure there's so many people listening going, Oh, maybe that's why I'm totally stressed out. Because I don't know, my profit margin, I have no idea. You know, I'm just trying to figure things out. What would you say are some of the biggest mistakes, the biggest mistakes that business owners make? The first one I see is just avoiding or delegating responsibility for the financial side of the business. So either

I'm not good at math, or I hate numbers, or if I just work hard things are gonna work out. That's kind of the first camp. The second camp is I hired the accountant, and I have the bookkeeper, and they're handling it. So I don't need to bother with that. And so neither one of those is a good place to be, you

need to be on top of your numbers. I don't believe business owners need to be their own bookkeepers, they absolutely should outsource that task. But it is their responsibility at least once a month to review their numbers, review their cash flow, create a cash flow forecast that they maintain that goes out about six months into the future. And so for those who may be checking this out, you're not sure what cash flow is, money comes in, money goes out, the timing that it happens is really the magic. And usually the money doesn't come in on the days that you need it to go out. So you've got to manage it and actually understand the cycle of it. When you're doing those

things, then you actually use your numbers as a tool to help drive towards your goals. And if you're going to have a cashflow shortage in three months, you figure out what do I need to do? Do I need to make some more sales calls today? Do I need to get a increase in my line of credit, do I need to get a line of credit, which leads me to it. Another mistake I generally see is business owners not getting access to credit early enough, they wait until they absolutely need it. And that's not

necessarily the right time. Certainly, in my experience, as a lender, you want to establish that credit history in your business as soon as you start your business. And at the beginning, even if you're are an incorporated business, it's probably going to be based on your personal credit score. But

now you're starting the clock on the credit history in the company so that as you grow, your credit should be able to grow. And so you don't want to be running to the bank to get that set up at the exact moment that you need it. You want to have that prepared in advance. And if you can be responsible, there's some great credit cards that you can run a lot of your expenses through that'll pay for your vacations every year.

Absolutely, yeah, I don't think dad or credit is good or bad. It's all in how you use it if you understand your roles and responsibilities, and you behave accordingly with it unless you get too much to the tipping point where it's too heavy to carry. But if you're managing it appropriately, there's lots of upside from using other people's money. Yes, indeed. Every single transaction goes through my

credit card, and I pay it off every month. But it always goes through because I want those points. Yeah, points are magic. You gotta leverage every advantage that you can as you're running a business, because there's other things that you can't do that you benefits that you have being an employee versus a business owner that you don't have access to, in some ways. So utilize the ones that you can to your advantage, right. Absolutely. Something that shocks me still to this day is that I know, like public high schools, this is a gross assumption, in my experience with the public high schools that I currently see my experience going to public high school, why do you think that basic money fundamentals are just not taught? Why and why are we left to figure this out on our own? I know a lot of peers that are just so deep in debt so deep in debt, because they just thought, Oh, I'll open a credit card and free money yay. And never learn how to pay it off.

And they realize, oh, wait, I have an interest rate of like 18.5% You know, I mean, what do you what do you say to that? I completely agree it's just as bad in Canada. They've added some more programming to in the province I live in to grade 10.

I just participated in an RFP to add some to grade nine but it's 320 minute modules that is not going to move the dial. I think that as soon as people are old enough to walk and talk, they should be learning about money. And there's age appropriate lessons. No matter how old you are, you can always be learning something, think about when you're a kid, you could play store, you could make change that used to be a game people would play, or maybe that was just at my house, there is age appropriate lessons, and the school system does a really poor job of educating and preparing people. So that's on the personal finance side, let alone there's no training for business owners. And then what happens is that the school system is going to point their fingers at the families and the families have never been taught either. So it's not really a reasonable

expectation that they can teach their children. So I think that definitely needs to change. And that brings up a good point, that reminds me that so many business owners I talked to, they feel ashamed and embarrassed, and they feel like it's their fault. They don't know how to run the financials of their business, they started their business because they're excellent at what they do not because they were supposed to have this financial knowledge. And so unlike sales, or marketing or operations, where it's no big deal to get assistance and ask for help, there seems to be some shame around the money side. So I just want all the business owners listening to know that it's not your fault. If you don't know

how to do it. You've heard here today how important it is. And you need to ask for help and get the help that you need. But you don't have anything to be embarrassed about.

Thank you for saying that. It's really important. Let's talk a little bit about pricing. Because I imagine that you talk with some clients where it's like, wait a minute, either they're way under pricing, or maybe they're pricing themselves out of the market entirely. What do you run into with that? Mostly, the first one is underpricing. So last week, I worked with a client and we just went through every service. It's

a medical practice. And so they have different types of practitioners and all except one, we're losing money on every service when we factor in some allocation for fixed costs. And she's like, Oh, this is so terrible. I said, Well, it's not great. But now we know. And we've got the facts in front of

us. So now let's brainstorm the options how we're going to change this number one, you're under pricing, you can easily add a 10% lift on all these prices right away and start to be at least making a little bit you're you've got a lot of excess capacity in your location. Even if you don't want to bring practitioners into the fold under your brand, let's rent out the space in the OFF time, make some money, let's maybe have hours for the practitioners that make less margin beef up hours for the ones that make more, and we were brainstorming, and within probably 15 minutes, we came up with four options to quickly change things. And so it doesn't take a lot of time. It's not super complex, but then it requires the bravery to go forward and communicate pricing changes to clients to actually follow through and implement.

Maybe some people in your team might not like it, and you have to get them on board. So there's lots of things that go with it. But chronic under pricing is the norm and if it's any kind of service based professional coaches, anything else service related, they're not charging for their time. And so when we throw even notionally in how much would you have to pay somebody else to do it? If you didn't do it? They're underwater right away. It's about like we mentioned off the top, do we

have the right clientele have we actually scan the market to see what other people are charging, we know what we need to charge based on what we're offering, let's maybe shift our position, it's okay to be higher price than other people. If we're offering more value, as long as we can articulate all of the things that we're offering in a confident way, not oh my gosh, I hope that you would like this and hope that you think it's good. And if we don't come across confident nobody's gonna want to buy anything from us. So chronic underpricing across the

board, and for most business owners, they can just increase their prices. So do you find a difference between like a medical practice versus online type of businesses and how they're approaching their businesses and their pricing and all of that somewhat, but it is pretty consistent themes, actually. So they're not actually doing a deep dive on what all those expenses are, for the most part, when someone's online, they have a lot less fixed costs, but they still have more than you think about this plug in that makes my website, talk to the shopping cart that makes it linked to my online academy, and all those things are running up all these subscriptions every month. If we

don't look at our numbers, we don't remember about all this $50 100 200 there and thinking about all of that stuff. So really getting in the numbers is key. Again, people hyping with sales and not looking at the profit because everyone's like, Oh, my sales were this like yes, but you may no money and you still didn't get paid. And I don't think most business owners either leave a job or start a business in lieu of taking a job not to get paid. And it's so important that you look after

yourself personally. So you can have somewhere to live. You can pay your own bills, you can go on a vacation, whatever you want to do got to be able to get paid from your business to make your whole life work. I'm glad that you brought up subscriptions. I feel like that can be a really quick rabbit hole. And you forget where you sign up, not you. I often forget where where. And I use a great app. It's an awesome tool called truebill. It reminds me Hey, you

have another rebill coming up for this company in 10 days. Do you want us to cancel it for you? Do you still want the service and when you really start racking up all the subscriptions for my business because of Sweety marketing and I mean, we're talking 1000s of dollars a month just in subscriptions to make all these sites function correctly, right? So it's, it can get a little out of hand if we're not keeping track of the subscriptions cuz you get hit sometimes not during the same day of the month, right? It's like on the 10th, I'm getting, you know, charged 1500. And the fourth, there's another 1000, what is happening, especially if you're removed from it, so like, I didn't make my own website, that's not my skill set, then I'm like, do they use these things? And do they use this? Are these things actually in use? Are they not in use? So I've been finding myself sending emails? Are these things active? Do we need this? Or can I cancel this? I don't want to cancel things and make my site go down. If you're not weren't involved in the the original buying of them or setting it up? It's hard to actually know. So

you got to do a little bit of digging? Yeah, those are great questions. Every business owner should be asking themselves, what is what is truly necessary for the functionality to keep the business growing and moving forward? A lot of those things being web developer, sometimes our tests, sometimes they're not being utilized at all, sometimes it was a yearly thing you need it. So yeah, it's important to look at those subscriptions, especially for website building. Absolutely.

And from an agency standpoint, one of the things that we try to do is always include all of that as part of our pricing. So this is our monthly pricing to do this, they manage the service for you. But it includes everything that you need very a lot of transparency. Yeah, make it as easy as possible. I'm always breaking down the names of things, what they're for, and how long we need it. Because I don't expect people to understand what it's

for every little aspect of it, it's impossible to keep track of it all. So batching all the data and saying Here you go. Yeah, it's important. Absolutely. I think that's the cornerstone of my agency is what do I want? And that's what I'm gonna give to my clients. Right? I love the idea of thinking about finances as like, this constant thing you need to do it is it's totally fitness fitness of the mind. How did that concept come about? For

you? I always found the term financial literacy to be very negative, and automatically people kind of step back and they were like, Oh, I'm not illiterate. Why did Why are you saying that about me. So being financially fit, it's just like a physical fitness, we might be taking that first walk around the block, getting off the couch, or we might be training for a marathon, we're on this spectrum. The same thing happens with our financial knowledge. We've already talked about that. We don't necessarily get taught in school, maybe our families help us a bit. But we're picking stuff up everywhere we go and

through different experiences. So we might be learning about bank accounts, we be becoming a more sophisticated investor, everyone's in a different place on the spectrum. And I really want to encourage people to take small, imperfect actions every day, just a small one thing, what can you do today, that's going to make you more financially knowledgeable, more capable, more confident, and you're going to have missteps. So it's so important to just get back on the path, keep moving, keep trying, and be really kind to yourself when you do make some mistakes, because there's going to happen, everybody makes mistakes. If someone's

wanting to start their education, not sure where to start, what do you usually recommend? Well, it's never been a better time to learn about whether personal or business finances podcasts like this are a great place to start. There's lots of great books out there that are made for beginners. The key thing though, is to find somebody that speaks in a language that you get, don't try to learn from someone and who's speaking in a way that you don't understand there's the right fit out there for everybody. So I encourage you to find someone that you're comfortable learning from, if you're looking for a financial advisor, or a financial planner, or coach, make sure you interview with you make sure that you can have a conversation and you actually feel comfortable expressing your concerns and asking questions because too much in the financial industry, there's people using too many acronyms using the financial lingo and making people feel overwhelmed and uncomfortable. And that should not be the experience really very good point. You shouldn't be uncomfortable, especially when you're talking about your own wealth and trusting someone else with that information. It's kind of a lot.

Yes, totally. And money is intertwined in anything. So we'll start talking about sickness and their family relationship issues, all kinds of things that are going on. So it's never quite as straightforward as just the numbers. And so you've got to be able to have that confidence and trust in someone. So if someone is struggling to hire someone, or even get to the point of admitting that they have an issue that needs to be solved, what do you recommend that they do to like get over that so that they can actually make the progress, they need to continue to grow their business effectively, and bring in the money that they should be bringing in, encourage them first to talk to someone they know and trust. So

it could be a fellow business owner could be one of the professionals that they deal with. And just hey, you know, I'd like to learn more about such and such Do you know anyone getting a referral is a nice, easy way to get into it. If you can attend sessions where you can hear someone speak so you can get to learn a little bit about them without having to identify I'm going to need this. Those are all easy ways to get

into it. Really just take whatever small step you need to but do take a step because things will will get better. It might seem like that's going to make it harder, but it's actually going to clear up some of the confusion and as we talked about, remove a lot of the anxiety from it and you actually have your own podcast right called the Young Money, Young Money with Tracy bits. So we've been going strong since

December 2017, I run only one rerun. We go every week. And it's weird for 18 to 30 ish an age group. And it's basically anything about money. So I can make Super Bowl halftime artists linked to money and talk about what we can learn about financial fitness this week, we actually have a licensed insolvency trustee on talking but what happens if you get too much debt? And how can they help you last week, I had a military intelligence officer, former intelligence officer talking about how to read body language and how we can see if people are manipulating us because that could all tie into our earnings power in our lifetime. So we cover pretty much everything I get to learn a lot. I've been learning a lot about

cryptocurrencies and non fungible tokens because NF T's are so popular and just trying to get the digital wallet, buy something, try it and see through the eyes of people who are exploring that all the time. And I bring my successes, but also my fails. Because I when I was getting my, my crypto wallet, I had quite a few fails with that, because not all were were gonna line up with my bank, they wouldn't accept them all.

So let's talk about something the difference between what you're doing in Canada versus the US. I think there's two things to touch on. One is, is there a difference in how people approach money in Canada versus the US too? Are there different ways that they can go about their business or different limitations? Because we want to make sure that people are clear? Yeah. So when I work with people, because I'm doing primarily financial education, it doesn't matter where someone is based, but the concepts are still the same. What I've noticed, anecdotally is I find that business owners in the US are more free to buy things. And I find consumers in general in the US, or they don't get as fussed about price points and things like that. So that's my anecdotal evidence from what I see across different customers. Certainly, if you're getting

financial statements done or anything like that, or tax laws, that's obviously going to be different between the two countries. So where I'm coming from and talking about cash flow and understanding your nervous that's pretty consistent across the board. It's interesting is sky. No, he basically he says that people in

the US, they wake up thinking about how they can spend money. And then everywhere else in the world, they think about how they can wake up and save money. I don't know about all the whole world, but it to me, that's a big difference. And so when I'm talking to business owners in Canada, if they have something they can sell to us consumers and like go and do it, get get your name out there, because there is so many more people number one, and there's so many more people willing to spend money, great opportunity. And if you have something of value to offer, it's win win for everybody. I'm really bad at spending money. great at making it. But I

don't like to spend it when I was a kid, my grandmother who has since passed, used to tell me honey, it's not always about how much you make. It's about how much you can save. And I really I took that to heart and I save save, save, save. And then when I really want something which it's fueled like a few and far between, like I bought about my house, I really wanted the house. Okay, we're gonna buy a house that makes sense. That's where money went. But things here and there. I'm not good at what do you have to say to someone like me who's not good at spending the money? I'm a little bit of a penny pincher, I guess well, I would get you to look at how happy you are, how happy you feel, are you having the experiences you want to have, if you're happy with your life, and there's nothing wrong, but if you feel like you're missing out on stuff, because you're trying to save too much probably want to explore that. So there's

probably a little bit of scarcity mindset in there wanting to control all that money and take it in so that if something happens, you've got more than enough totally ways you can actually move from scarcity over to abundance three easy things you can do when there's so many out there, but one is a daily gratitude practice. So I live in my house I woke up today I have food to eat, I had a shower, put on clean clothes, I have technology, my computer's working, when you start thinking like that, it sounds so silly, but it's really hard to be worried and think about negative things. You're thinking about all the good things in your life, too. You're the product of the five people you spend the most amount of time with. So if you're spending time with people who like to Penny pinch and conserve all of their funds, and they aren't living their life in a joyful way that's gonna rub off on you. So who do you want to spend time with and you can make some changes there. And then thirdly, make some room in

your schedule for fun and just relaxing and doing creative things. Because that actually give back to your business in your work. Any one of those three in a habit over time is going to help move you a little bit from feeling a bit scarce over to a little bit more positive and abundant. And there's so many others out there. But those are just three that I know that can work for me and I've been trying to do them to Excellent, thank you for that. I only very recently this is gonna

sound ridiculous, but only very recently started finding joy outside of my work because I felt like I needed to do that. I'm obsessed with my work. I love it. I'm so fulfilled by what I do. But I realized that that boundary can get a little unhealthy. Like I don't I should not be working all the time. I need to do something other than that. And it's taken a lot of

time to figure out what do I want to do. Where's that spark of joy? And so thank you for that reminder. Again, I'm just being on that path of for example, I love to paint by number The huge paint by numbers for adults takes like months to do and it's so fun for me it's kind of aimless and I can just think about, you know, well what happens though, if you tried to do your own picture, you'd be stressed about your own artwork. And then you actually couldn't think about work. But I bet you have a breakthrough about your work. I really like you. This is fun.

Right? Some things you don't normally do try a whole bunch of different things. We were talking before you hit record around going to Red Rocks, like go there, go to a concert, have some fun. I love roller coasters, too. So I'd like go in different amusement parks have fun. I'm a total woods. I'm kind of boring. I mean, very, you've known me a long time. I'm a little boring.

Not a competition for excitement. It's whatever you like to do. So he likes to read books. You like to walk? Swim, whatever. Just take some time. Good advice.

Thank you. Yeah. Or, you know, write some music, write some music. Yes, I know, we need to get on that Roy has been on me for months. We haven't written anything new in a couple of years now. So it's time we got to do it. Tracy, this has been so lovely. I know that you are graciously offering

our listeners a gift. Can you tell them a little bit about that? Absolutely. So I talked about the importance of looking at your numbers and having a regular time dedicated in your calendar. At a minimum, you're doing it monthly, but a small amount of time each week to carve out just like you do those other activities in your business. So I have a money me agenda to get your listener

started. So if they've been inspired today, they can take action right away, they can download it at cash coach dot biz, and the first meeting might be just looking at it. And that's okay, that's where you're starting. That's where you're going to start looking at your bank accounts, you're just going to move into a routine. And if you do have a business partner, at least one of those meetings a month should be with your partner so that you're talking about what's going on and that everybody's up to speed. It should never fall on just one

person to be responsible financial side of the business, they might be accountable for it primarily. But everybody who's owning the business should be involved. So awesome. And then if people want to do some potential coaching with you, what's the best way for them to connect with you? The best way to reach out to me is on LinkedIn and very responsive on there. Or you can head to my website, and send me a contact form there.

We will be sure to have all of the links in our show notes as well. Thank you so much for educating us and taking this time. It's just a joy to have you on. Thank you so much. It's been really fun. That is it for this week. We'll see you guys next time. Bye.

2022-03-31 13:02

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