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She Means Profit

Author: Melissa Houston

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The She Means Profit Podcast is devoted to helping entrepreneurs master their finances and launch, grow, and scale their businesses. Simple, digestible, actionable advice from Melissa Houston, an accredited CPA with over 20 years of experience. Real business owners, real talk, real solutions.
154 Episodes
“Finances and marketing numbers are a game as well. So understanding how those numbers overlap can be a game changer.”—Melissa Houston2023 has not been a great year for business owners. It’s been a rough year, really, with a lot of things happening around us and the economy affecting many different sectors. Experts are debating whether we’re experiencing a recession or not, and the thing is, we’ll only know we are in recession around six to eight months into it. Even though we’re not “officially” in a recession, some businesses’ revenue and sales fall, others go bankrupt. And so a lot of my clients go to me and ask, “Where is the money going?”But we shouldn’t wallow in pity for the difficulty brought to us by this challenging year. Instead, we should analyze the root cause of our problem. Is it an issue brought by money management or a sales problem?In this episode, we will talk about how sales and money management are critical parts of growing your business.Listen to learn:‌What your numbers look like at the end of Q32023 is a tough year for businessesWhy finances and marketing are a numbers gameWhy sales without profit is a red flagIs it a sales problem or a money management problem?Steps to take to explore the root cause of your problemHighlights:‌01:16  What your numbers look like at the end of Q301:46  2023 has been a tough year03:02  Why marketing is crucial for sales05:21  Is it sales or money management problems?07:09  How to identify the root cause of your problems?07:46  Tip 1: Analyze your finances09:39  Tip 2: Assess your sales strategy10:50  Tip 3: Identify the external factors12:45  Tip 4: Find a balance13:17  Tip 5: Seek professional help when you’re strugglingLinks:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCash Confident Framework™️ CourseMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
“No matter what stage of business you are at, it's really knowing that sales absolutely is, can, and should be beautiful.”—Jamie Gulino DavisThere’s always a negative connotation about sales. People have this idea that we should never listen to salespeople because they only have one agenda: they make you lose control, urging you into buying their product or service and lose control of your money. So, it has always been a daunting and overwhelming experience for business owners to close sales.And I confess—I used to struggle with sales too. Because like a typical person, I grew up with a mindset that salespeople are ‘evil’. It took a mindset shift to finally understand that you’re not playing the bad guy if you want to have sales. Because remember: sales drive revenue. Your business’ success is driven by your sales. It’s a part we can never run away from. So just like how our guest, sales leader, and strategist Jamie Gulino Davis puts it, we need to embrace the beauty of sales, identify it against marketing, and cross the bridge where these two intersect.In this episode, Jamie talks us through the beauty of sales that would help us shift our money mindset. It’s not about making people lose control of their money; it’s actually offering them solutions to their problems.Listen to this episode to learn:‌The difference between marketing and salesJamie’s own sales framework: The LEAD frameworkIs the nurture sequence still a part of marketing?What typical problems in sales areJamie’s ‘aha’ moment that changed her mindset and lifeHow to handle clients that are analytical decision-makersHighlights:‌03:41  The difference between marketing and sales04:57  Jamie's sales framework: The LEAD framework07:55  Is the nurture sequence still part of marketing?10:24  The problem with sales15:32  Jamie's 'aha' moment that changed her mindset and life16:52  How to handle clients that are analytical decision-makers20:13  Why knowing your clients' characteristics is importantLinks:Jamie Gulino Davis ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
“Raising capital can be a critical component of your success. So, with the right financial strategy, you can take your business to the next level.”—Melissa HoustonThis is why starting or expanding a business can be daunting and overwhelming. It’s hard to answer the question ‘Where do we get our funding?’Anyone could easily get confused—scared even—when raising capital for their businesses. And the thing is, it’s such a crucial component as no business would be able to start operating without enough capital.Fret not!In this episode, I’ll walk you through the different options that are available to you to help you make informed decisions when raising money for your business. You don’t have to worry about securing your capital. You just have to scrutinize which one fits your business.Listen to learn:‌Your funding options when raising capital for your businessBootstrapping and its pros and consWhat crowdfunding isWhat angel investing meansBank loans as a traditional method of securing fundsWhy venture capital is a hot topicHighlights:‌02:03  Some life updates05:11  Why bootstrapping is my favorite07:04  Crowdfunding and its pros and cons09:27  What is angel investing?10:57  Bank loans as a traditional method of funding12:07  Don’t make this big mistake!12:25  Why venture capital is a hot topicLinks:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCash Confident Framework™️ CourseMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
“A common mistake that entrepreneurs make is checking their bank balance at the end of the month and assuming that what is left is their profit.”—Melissa HoustonHeads up: your bank balance does not equate to your true profitability. Doesn’t mean that you have all those money in your bank account, you’re free to spend them all you want. No—that’s not your profit yet!As business owners, we need to get our money management system tied up so that our profitability is optimized. And one way to do that is to keep an eye on your bank account.My personal tip: I look at my bank account—both business and personal—every. single. day.I’m not kidding. I’m not exaggerating either. In this episode of She Means Profit, I discuss why I find monitoring my accounts on a daily basis an essential powerful way to manage my money and optimize my business. I also break down the reasons why you should never think what’s in your bank account is your profit.Listen to learn:‌Planning your goals for 2024Why keeping an eye on your bank account is essentialCash flow vs profitMistake 1: Assuming what remains in your bank balance is your profitMistake 2: Not paying yourselfMistake 3: Unpaid debtsMistake 4: Overleveraging your businessMistake 5: Accounting methodsThree ways to work with meHighlights:‌01:37  Little catch-up from the season break02:18  Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business02:50  Cash management system05:50  2023 Q4 planning and getting ready for 2024 planning06:44  Checking my bank balance every day08:37  Mistake 1: Assuming what remains in your bank account is your profit09:00  Mistake 2: Not paying yourself10:11  Cash flow vs profit11:43  Unpaid debts12:42  Overleveraging your business kills your cash flow13:36  Accounting methods15:37  Three ways to work with meLinks:‌ ‌Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
“You need to have a solid understanding of what's going on in your business.”—Melissa HoustonIt’s a no-brainer that anyone who owns a business must have a solid understanding of what's going on in the business—everything, including the ins and outs and the future plans. It’s simply the bedrock of success. And while it is a no-brainer, actually committing yourself to doing so isn’t as simple as it seems. But when you have a firm grasp on your business, it's like having a compass that guides you through a maze of potential and obstacles.So, dear entrepreneurs and dream chasers, remember that success is built on the foundation of deep comprehension. Dare to dream big, define your vision, craft your mission, and set goals that propel you toward greatness. With a solid understanding of what's going on within your business, the possibilities are boundless, and success becomes an inevitable destination. Listen to learn:‌Managing your decisions with your financesGenerating revenue is importantMonitoring your numbersLearning approaches for your business goalHighlights:‌ 04:03  Control of your financial destination04:56  Revenue without profit is a red flag05:25  Have the courage to claim your financial dreams05:40  Read your financial reports07:42  Monitor your numbers08:55  Cash is queenLinks:‌ ‌Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
"There's an interconnection between mental health and financial health." —Joyce MarterAt first glance, it may appear that there is no correlation between mental health and financial health, but the truth is that they affect one another.Existing mental health issues can make it difficult to manage finances effectively, just as having financial issues can lead to mental health problems like depression and anxiety. That is why it is essential to recognize the interrelation between financial and mental health and take steps to address them. Break the cycle and cultivate an abundance mindset. We need to look past the problems and work towards problem-solving. Open your eyes and begin to take your first step toward your highest vision.  But what does it mean to step towards your highest vision for yourself?It simply means that you should know your worth, do the work, and prioritize self-care. By recognizing the relationship between mental and financial health, we can improve and prosper our overall quality of life and achieve greater happiness and fulfillment.Listen to learn:‌The interrelationship of mental health and financial healthHow negative beliefs about money blocks prosperityHow to recover from financial traumasMoney mindset is rooted in early childhood experiencesImportance of creating a high vision for planning career contextScarcity vs abundance mindsetHow financial issues can trigger anxiety Highlights:‌02:49  Joyce as a Financial Therapist and Money Coach03:30  Impact of money story and traumas to mental health04:19  Importance of Money Mindset14:54  The distinction of scarcity and abundance16:19  How working collaboratively can solve problems20:11  Establishing a high vision for personal and career growthLinks:‌ ‌  Joyce Marterhttps://www.joyce-marter.comInstagram: @joyce.marterFacebook: Joyce Marter Twitter: @Joyce_MarterLinkedIn: @joycemarterlicensedtherapi7961Main website 🡪 https://shemeansprofit.comCash Confident BookCash Confident Course --> sign up hereApply to work with me --> Apply hereMini-courses
“Finding new and innovative ways to increase the amount and frequency of sales should be one of your top priorities if you want long-term success.”—Melissa HoustonSales volume is essential; it is the heart of your business.Without sales, businesses cannot drive revenue, gain profits, and eventually grow. In simple words, there is no business if you don’t have sales.But increasing your sales volume is not easy. You need to put in effort, dedication, sweat, time, and willingness to take risks. And to become a successful business owner with a lot of sales, you need to be constantly innovating, trying new things, and adapting to changing market conditions.In this episode, we’ll break down the key points on how you can increase your sales volume so that you can finally pay close attention to your sales volume, keep track of it, set goals for improvement, and take action to make it grow!Listen to learn:‌Importance of increasing salesUnderstanding the breakeven sales pointMaking a suitable business modelEssentials of real-time dataBeing the top on sales as a business ownerSignificance of dedicating time and effort for salesTracking the numbers at all timesHighlights:‌02:25  Enter Cash Confident reviews04:12  Monitoring sales volume05:04  Breakeven point in sales07:19  Making a financial plan10:58  Monitoring progress throughout the month11:53  Having a detailed real-time data 13:12  Tracking your numbersCash Confident BookCash Confident Course --> sign up hereApply to work with me --> Apply hereLinks:‌ ‌Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
"When running a product-based business, profitability should be top of mind."—Melissa HoustonCreating and operating a product-based business demands a significant amount of courage and drive to bring your product to the market. Thus, it’s a must that entrepreneurs possess a deep understanding of their intended audience, their competitors, and the industry in which they operate. It is not easy to build a product-based business. There are several things that you should consider, and a bucket of sweat and tears will be required in order to build it successfully.So in this episode, we will delve into how we can make our product-based business profitable and on top despite hindrances and challenges!Keep learning, adapting, and growing your business, and you'll make significant strides towards business success.Listen to learn about:‌The importance of courage in product-based businessesPrice strategies in product-based businessesEffective marketing plan that is crucial for visibility and successBuilding a strong brand identityEssential of quality controlWhen to consider investing in equipment and manufacturingPrioritizing the profit in your businessHighlights:‌04:19  Product-based businesses built on a solid financial foundation06:00  Things to consider if you have a product-based business06:20  Setting your prices08:19  Packaging of the product09:50  Marketing for your product11:19  Considering manufacturing cost12:42  Distribution of your products15:42  Providing excellent service17:10  Return policyCash Confident Book: Confident Course --> sign up hereApply to work with me --> Apply hereLinks:‌ ‌  Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderAre You On Track For Millionaire Status QuizFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
"The key to succeeding in business isn't just having a strong idea, but also knowing how to manage your business correctly."—Melissa HoustonWhat motivated you to start your business? Each of us has unique reasons why we started to take the journey of entrepreneurship. For some, it’s their passion, while for others, it’s the desire to have another source of income.But running a thriving business requires a good grasp and understanding of financial management. You have to consider everything that builds your business: numbers, profit, data, operations, and marketing. Have the courage to take the bold step towards a successful business through cultivating knowledge, vision, and dedication about finances. You can reach levels you never thought were possible—if you do the work to get there. This episode talks about the things you need to prioritize to make your business successful.Listen to learn about:‌How to manage your business correctlyImportance of getting Cash ConfidentHow to make your business more profitableThings to consider in businessMaking a financial planHighlights:‌04:20  Running and developing a successful business04:53  Looking at your business data08:34  Unique opportunity to construct own business model09:57  Poor money management10:20  Ultimate responsibility for financial future10:47  Why do you need a financial plan for your business15:50  Pre-order Cash ConfidentCash Confident Book: Confident Course --> sign up hereApply to work with me --> Apply hereLinks:‌ ‌Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa
“Your brand is everything in your business that people have a touchpoint with.”—Tiffany NeumanYour brand is your signature.But it is not just about the colors, logos, or other visuals you provide.Building a brand is all about creating a foundation for your business that includes your vision, voice, story, and goals. It should be like a conversation, a dialogue between you and your customers. Developing a unique brand is a step toward establishing a thriving and profitable business.Tune in to the latest episode of She Means Profit, where our special guest, Tiffany Neuman, is going to drop some major knowledge bombs on branding!Listen to learn:‌Brand is not just about logos, colors, and fontsBuilding the foundations in creating your brandClarity and consistency in creating your brand legacyEnsuring the offers are congruent with the brandWays to create a cohesive brandGuest Bio: Tiffany Neuman is a visionary branding strategist who helps mission-driven entrepreneurs uplevel their businesses. After 15 years in the corporate world as a creative director, she left to found Your Legacy Brand to help clients across the globe increase their income, impact, and influence.Highlights:‌00:26  Intro01:46  Tiffany helps women step into their power by creating legacy brand02:35  Creating a brand for your business 04:18  Brands paint a picture of who you are07:09  What is Brand Legacy14:36  How Tiffany expands her audiences through networking group18:17  You should make a quantum leapLinks:‌ ‌  Tiffany Neuman @tiffanyneumancreativeLinkedIn: website 🡪 https://shemeansprofit.comMini-courses me on:IG @melissahoustoncpaLinkedIn @melissahoustoncpa
"Money serves as a tool to help you create positive things in the world and support your values."—Melissa HoustonContrary to the common notion, money is NOT just a number. We all know how this number in our banks and our wallets has a huge influence on our quality of life.  So, it is not surprising that many of us tie our worth and happiness to the amount of money that we have. We stress about chasing it and work hard to attain it.And while money has the power to make us feel secure, it should never be linked to how we identify and value ourselves. Our worth isn’t dependent on how much money we make.Don’t let money have the power over you; instead, allow yourself to control your finances and embody the right money mindset. Equip yourself with financial strategies and plans that align with your values. That way, you allow yourself to be empowered by money in many positive ways.Listen to learn:‌Why we should look at money as a toolAcknowledging your beliefs around money is importantWhat financial literacy isWhy you should diversify your investmentsInvesting in financial education is a mustHow to develop positive money mindsetHighlights:‌00:12  Intro03:23  Cash Confident pre-order04:04  Definition of money09:32  The right money mindset11:06  Develop money habits12:04  Transforming money mindset into a positive one18:25 Invest in yourselfLinks:‌ ‌  Cash ConfidentMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderAre You On Track For Millionaire Status QuizFollow me on:IG: @melissahoustoncpa LinkedIn: @melissahoustoncpa
“Create what you consume.” - Kelsey ReidlIn a competitive environment like the business industry, having the right strategies is the tool to success. While it is a fact that marketing should reflect a brand's personality and be fun, brands should focus on "self-expressed" marketing strategies as well. A good way to start creating a social media strategy for your brand is to create content that you would enjoy consuming.By creating content that aligns with your own preferences, you're more likely to be successful with your marketing efforts. This is because you'll have a deeper understanding of your target audience and what kind of content they enjoy consuming. In this way, you can develop a more efficient and effective marketing strategy.Whether you are an entrepreneur just starting out or a small business owner looking to revamp your marketing strategy, this episode offers practical tips and insights for building a successful marketing strategy that is aligned with your mission and values.Tune in to learn how to create a positive, exciting, and high-energy vibe around your products, experiment with different strategies, and see real results.Listen to learn:‌Identifying the mission behind a marketing strategyThe three key elements of a marketing strategy: mission, mindset, and main ingredientsWhy energy in marketing matters and its impact on brand loyaltyDirect response marketing drives engagement and building communityFostering connections with your audience through conversation and engagementHighlights:‌01:09  Intro03:28  Struggles of Entrepreneurs04:04  Understanding marketing from a Venn diagram perspective09:20  Create what you consume14:26  Self-expressed content as the most powerful piece of marketing17:19  Marketing is all about energy21:44  Marketing is a two-way conversationLinks:‌ ‌  Kelsey Reidl website 🡪 https://shemeansprofit.comMini-courses me on:IG @melissahoustoncpaLinkedIn @melissahoustoncpa
"Every risk taken has something to teach us, and with each failure comes an opportunity to grow, learn, and move forward."—Melissa HoustonIt’s scary to take risks, but it’s more daunting not to take one. Taking risks also means taking a leap into our growth. It allows us to move beyond our comfort zones, confront our fears, and ultimately achieve our goals. In the realm of business and entrepreneurship, people are known to be risk-takers. Because the truth is, there’s more to risk and more to lose if you don’t dare jump into an opportunity.Though we all know that risks can result in disappointments, failures, and setbacks, it is important to remember that these experiences are valuable opportunities for growth and development. It’s a better option than not taking a risk at all because choosing the latter could mean that we may never reach our full potential and achieve our eventual success.So if you hesitate to embrace uncertainty, always remember that there could be a positive outcome and valuable lessons waiting on the other end of the line.Listen to learn:‌Why taking risks is essential for entrepreneursSetbacks are a normal part of a successful journeyFailures can be an opportunity for growthGrowth requires living outside of our comfort zonesHighlights:‌00:11: Intro00:56: Announcement of the expansion of She Means Profit Services 04:08: My seven-figure profitable business04:42: Core message of She Means Profit06:33: Taking risk as entrepreneur10:29: Not giving up after failures13:51: Pitch as part of the game15:09: Setbacks on the road towards successLinks:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessApplication to work 1:1 with MelissaMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpa   LinkedIn: @melissahoustoncpa
“Businesses need proper information to make informed business decisions. And key to that is the accounting information that the accounting professional should be offering to their clients.”—Roger KnechtIn the ever-evolving business world, we are met with strict competition, different challenges and obstacles, and exciting opportunities to help us maximize our profits and scale our businesses. However, there’s no one-size-fits-all solution. It requires different approaches as what worked for you yesterday may not work for you today and in the future.It can be difficult to survive in business without professional help - and this is especially crucial for your finances. You need someone who is multi-skilled and has vast knowledge about the industry. That’s where an accounting professional comes in. With the guidance of a skilled accounting professional, your business can smoothly sail the storm and rough sea of finance and maximize your profits to ensure your business is sustainable in the long run. By having an accountant, you can set up your business for success and concentrate on what you do best: creating and providing high-value products and quality service to your customer.Listen to this episode to learn:‌The essence of accounting information to your businessesHow accounting correlates to your business operationsThe impact of poor cash flow managementTypes of financial information provided by accounting professionalsStrategies and plans backed by accounting information for business success and profitabilityGuest Bio: For more than 20 years Roger has personally helped thousands of accounting professionals start & build their businesses. In that time they've created programs to address each aspect of running an accounting business & he has helped author "Red to BLACK", the how-to-guide for accountants to help clients with the most common challenges faced in business - cash flow, AND "in the BLACK - 9 principles to make your business profitable".Highlights:‌00:29  Intro02:45  Appreciate the numbers03:57  Why most businesses fail in the first to fifth year04:18  What can be done to address the cash flow situation to help you stay in business05:20  How accountants can help business owners08:31  Tax Preparation15:38  Importance to have a good working relationship with your finance professional21:25  Color AccountingLinks:‌ ‌Roger Knecht HoustonCash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderIG: @melissahoustoncpa LinkedIn: @melissahoustoncpa
“Money dates are so helpful, and when you get into a regular routine of having maybe weekly or monthly money dates with your business, it's going to help your business in so many ways, and mostly by increasing profit.”—Melissa HoustonLike it or not, any business's lifeblood is money; without it, it will be hard for the enterprise to thrive.There are many reasons why talking about money and finances is essential, yet many people, let alone business owners, still find it boring and uninteresting. Or perhaps they don’t want to go down into the trenches and talking about financial details is not worth their time. Reviewing your financial performance and focusing on understanding the numbers can present many opportunities for growth, success, connection, and surprisingly, even fun! Having these money dates will help you make profitable decisions that will absolutely help the growth of the business in the future.Having regular money dates with your business may seem like an extra task that you have to do on top of everything else on your list. But by exerting that extra time and effort, you can make sure your business is on track to achieve financial success.So let's start talking about money! Listen to learn:‌Money dates help keep you organized and plan for the futureSetting budgets is a key task during money datesManaging your money is key to building wealthEvaluating expenses is a key task during money datesMaximizing output with minimal input is essential for increasing profitKnowing your numbers is crucial to creating profit in your businessHighlights:‌00:21  Intro00:43  Why money dates is helpful with your partner 01:47  Cash Confident pre-order bonus bundle05:24  Benefits of having money dates with your business06:39  Reviewing financial performance is essential08:57  Planning your finances10:02  Managing your money is how you build the wealth10:45  Having regular money dates helps you to stay organized11:39  Money dates allow you to set goals12:57  Having regular money datesLinks:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessMain websiteCalendar link Mini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpa   LinkedIn: @melissahoustoncpa
“The biggest thing that I noticed in me after starting to work with you is just a boost in confidence. I certainly went into it having major imposter syndrome.”—  Sarah Beth DavisAs entrepreneurs, we know how valuable our financial resources are and want to make sure we put every cent of it to good use. Unfortunately, the most common mistake young businesses make is not hiring a professional to do their financial and business accounting. And this error could cost your young business thousands of dollars because of unforeseen expenses, wrong inventory projections, high attrition due to not having a standardized salary scale, or even inadequate capitalization because of inequitable business partnerships.My guest this week speaks most about the latter and how she was able to traverse that difficult time in her business due to a dissolved business partnership. Sarah Beth Davis runs a brick-and-mortar store selling curated children’s clothing. She witnessed firsthand how a small business can suffer from curve balls such as restructuring the organizational design early on in the business. Since working with me, she has seen financial stability, increased confidence, and overall peace of mind knowing that things are finally in place. Sarah Beth emphasizes essential lessons from her experience: Being a business owner can be extremely overwhelmingGetting thrown a curveball in your small business can be distracting and ultimately damagingChoosing a business partner is like choosing someone to marrySimulating and visualizing your business by thinking through all of the hypothetical situations and how you would handle themHighlights:‌01:13  The joy of dressing up a baby led her to starting a business02:46  Finding helpful financial data and information when you’re starting out is difficult08:08  Things started to shift and the partnership was no longer equitable09:55  Important parallels of business and marriage 11:04  Honeymoon and divorce stage of a business partnership12:37  Protecting your personal assets early on14:22  The curse of the Impostor Syndrome15:27  Changing your financial habits17:49  Working with a CPA for your business is a practical and valuable investmentLinks:‌ ‌  Sarah Beth Davis @wynniesboutiqueInstagram: @wynniesboutiqueMain website 🡪 https://shemeansprofit.comCalendar link --> me on:IG @melissahoustoncpaLinkedIn @melissahoustoncpa
“It's not enough to have a good business idea. You need to have the financial structure in place.”—Melissa HoustonWhen you hear the word “rich”, what emotion or feeling do you attach to it? Is it a positive notion? Are you proud, excited, and inspired to act? Or are you left feeling bothered, guilty, or even repulsed by it? At the heart of being rich as a business owner is correcting that negative money mindset that being rich is bad. Getting rich is, first and foremost, more about financial confidence than it is about obscene luxury or vulgarity. In fact, it's a good thing to get rich because you can help others with money.And while “rich” can mean different things to different people, this episode talks about three things you can do to build your wealth as a business owner.Listen to learn:‌Why getting rich is all about financial confidenceWhy achieving financial freedom is a lot quicker through owning a business than traditional employmentHow owning a business offers you a lot of flexibility How to have a plan in place for financial successHow getting rich as a business owner requires self-disciplineWhy being a successful business owner requires resiliencyHighlights:‌00:50  Intro02:10  “Get rich” evokes a visceral reaction among most people 02:53  Correcting the negative connotation with having money and being rich04:10  Cash Confident pre-order bonus bundle07:37  Reinvest profit to your business to flourish and thrive08:54  Being a business owner affords you flexibility09:44  Cash is the lifeline of a business10:06  Having a financial plan for success12:18  Self-discipline is the key13:39  Manage the money coming in and out and live within the means                of your business14:57  Being a successful business owner requires resiliency16:00  Building a successful business is not for the faintheartedAs a business owner, you have a tremendous opportunity to change your life by building wealth properly using available tools and resources.Links:Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessMain websiteCalendar link Mini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpa   LinkedIn: @melissahoustoncpa
“We are lending across one end of Canada to the next, on a microloan basis.”—  Wendy CurtisAre you taking advantage of all of the resources available to you as a business owner? Based in Cobourg, Ontario, the Northumberland Community Futures Development Corporation, known as the NCFDC, provides financing and strategy for entrepreneurs. In this episode, I sit down with two of the NCFDC’s incredible leaders, Devon Girard and Wendy Curtis.Devon is the Program Lead for Women Entrepreneurship Strategy, and is committed to supporting women entrepreneurs to advance economic recovery, while Wendy is the Director of CF Ontario East and is described by the Government of Canada’s Federal Economic Development Agency for Southern Ontario as “Northumberland’s Woman of Influence”!In this conversation, we dive into the amazing initiatives and programs developed by the NCFDC to help women entrepreneurs grow and scale their businesses with more ease.Listen now to discover:‌ ‌The risks that women are willing — or unwilling — to take when it comes to securing funding for their businesses How you can use the NCFDC’s DELIA platform to access microloans Why you need to check out the StrikeUP Digital Conference for Women Entrepreneurs!Guest bios: Formerly Director of Trade Marketing, Pillsbury Canada Ltd, Wendy Curtis is a recognized multi-award-winning leader in our regional innovation ecosystem. Devon Girard is an accomplished strategic communications professional with more than fifteen years of experience in government, community, and media relations.  Highlights:‌ ‌00:50  Intro02:14  Meet Devon Girard & Wendy Curtis04:05  Women, loans & risk-taking05:14  Bias & access to capital08:28  Applying for NCFDC loans10:00  StrikeUP13:17  Future of women in business18:26  Final takeaways ‌Links:‌ ‌  NCFDChttps://ncfdc.ca @NrthmbrlndCFDC  StrikeUP Main website 🡪 Calendar link 🡪 🡪 me on:IG @melissahoustoncpa    LinkedIn @melissahoustoncpa
“There was a noticeable difference in the barriers that women were facing, being women entrepreneurs. They were different from what men were facing.”—Chris McMartinGet ready for an inspiring episode! My guest Chris McMartin is a force to be reckoned with when it comes to empowering women and nonbinary entrepreneurs and business owners. Chris leads the Scotiabank Women Initiative Small Business Strategy across Canada. This is a powerful program that helps women and nonbinary people overcome the many challenges that they face along their path to success when starting, sustaining, and growing a business.Chris has gained a wealth of absolutely incredible insight through her experience helping her program’s participants access the funding, education, and support they need to achieve their business goals.In this episode, Chris and I discuss the need for women-focused support and networking, the women-led partnerships and sponsorships that the Scotiabank Women Initiative undertakes, and the unbeatable joy of entrepreneurship. Listen now!You’ll discover:‌The three pillars that The Scotiabank Women Initiative focuses on in terms of helping women entrepreneursThe free events, support, and resources that are available through the programWho is able to access to the program — and why YOU want to sign up right now!Guest bio: Chris McMartin leads The Scotiabank Women Initiative Small Business Strategy across Canada, leading many national events and partnerships such as the Master Class Series, The IWD: She Shoots She Scores, StrikeUP Virtual Conference, and the mentorship program. Chris has a passion for people which has led her to champion equity initiatives through many diversity, equity, and inclusion roles within the bank. She currently sits as the Co-Chair for the National Allyship Council, a Stream Lead for the Women in Leadership Employee Resource Group and a participant on the Employee Pulse Committee. Highlights:‌ ‌00:50  Intro01:57  Meet Chris McMartin03:20  Why focus on women entrepreneurs?04:24  The 3 pillars08:54  Program cost10:01  Joys of entrepreneurship11:43  Scotiabank Women Initiative events13:56  Spreading the word15:06  Who can access the program?17:09  Scotiabank19:40  Takeaway ‌Links:‌ ‌  Chris McMartin Main website 🡪 https://shemeansprofit.comCalendar link --> --> me on:IG @melissahoustoncpa    LinkedIn @melissahoustoncpa
“It’s often difficult to stay on track and focus, especially when life throws you unexpected situations and surprises, but having that personal CFO can help alleviate some of that stress — this can be a gamechanger for your business.”—  Melissa HoustonHow would it feel to have a personal CFO who could coach you through building a successful and profitable business? Who could help you pinpoint your biggest revenue opportunities and effectively plug the money leaks in your business? Who could provide you with expert mentorship and advice, based on years of experience helping other business owners grow?Sounds good, doesn’t it?A personal CFO can provide insight into financial and market trends, narrow in on the business strategies most suited to help you thrive, keep you accountable to your goals, and help you feel more confident and prepared as a business owner. But what does it really mean to have your own personal CFO? And does your business truly need one?In this episode, you’ll learn everything you ever wanted to know about working with a part-time, fractional, or virtual CFO — but were too afraid to ask!Tune in now and ‌you’ll discover:‌ ‌How fractional CFOs work with businesses and why they are great for smaller organizationsThe key benefits of having your business finances organized, monitored, and analyzed by an expert Special bonus: learn how to get five amazing free bonuses when pre-ordering my new book, Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business (out on May 16th, 2023)!Highlights:‌ ‌00:50  Intro03:09  Canadian winter04:49  Cash Confident pre-order bonus bundle08:32  Why have a personal CFO?09:57  Plan ahead12:30  Make better decisions15:26  Spot potential opportunities17:16  Uplevel your business18:14  RecapLinks:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business Looking for a fractional CFO? Book a call and let’s talk! website 🡪 https://shemeansprofit.comMini-courses --> me on:IG @melissahoustoncpa    LinkedIn @melissahoustoncpa
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