Building Wealth and Confidence: Lessons in Finance, Starting a Business and Financial Independence with Kendra Nicole

In this episode of the Gateless podcast, Kara sits down with Kendra, the CEO of The Finance Femme, an accounting and fractional CFO firm that is all about supporting women-owned businesses. With over ten years of experience as a business owner, Kendra brings hot tips, simple strategies, and personal stories from her journey from the corporate world to entrepreneurship.

Kendra shares the realities behind ups and downs of growing her own business, and how these experiences have helped her create a 3 part framework to help others do the same. From the importance of trusting your gut, common money mistakes and the freedom you gain from financial literacy, Kendra shares practical advice for women who are growing their own business or just want to feel more confident about their finances.

Tune in for Kendra’s actionable advice and inspiration to take control of your finances.

Resources:
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Chapters

• 0:00 Introduction
• 2:46 The Finance Femme
• 3:38 Corporate to Entrepreneurship
• 7:30 The Power of Fractional Services in Business Growth
• 14:28 Differences in Making Business Decisions
• 16:06 Being Data Driven and Trusting Your Intuition
• 20:09 Common Financial Mistakes
• 22:17 Investment vs. Expense
• 25:33 Building Wealth and Financial Literacy for Women
• 31:36 Quantifying Your End Goal
• 36:03 Financial Wins and Successes
• 38:15 Closing Thoughts

Transcript

00:00:00.550 [Music]
00:00:16.239 welcome to the gateless podcast I'm
00:00:18.039 really glad that you're here I'm your
00:00:19.560 host Kara Kayrouz this is where you'll find
00:00:22.519 conversations with selfmade women who
00:00:25.080 share their playbooks their tips their
00:00:28.039 actual experiences on the journey to
00:00:30.400 success I also chat with experts and
00:00:33.280 practitioners of mindset stress
00:00:35.760 productivity emotional and mental health
00:00:38.399 because if you're listening to this
00:00:40.280 you're somebody that bets boldly on
00:00:42.039 yourself and you care about optimizing
00:00:44.760 how you feel perform give back love and
00:00:47.800 just move through the world this podcast
00:00:50.600 is here to help you become the absolute
00:00:52.640 most incredible version of yourself in
00:00:54.719 life and in business be sure to
00:00:57.719 subscribe to the podcast so you never
00:00:59.519 miss an episode we really appreciate
00:01:02.079 your feedback and reviews the only way
00:01:04.760 that we grow right now is from you
00:01:06.280 sharing your favorite episodes with your
00:01:08.360 family and friends on social media so
00:01:10.680 thank you for doing that go do that big
00:01:13.320 cool thing that you've been dreaming
00:01:14.759 about today today I spoke with Kendra
00:01:18.200 James Anderson who is the founder of a
00:01:22.240 fractional virtual CFO and accounting
00:01:25.400 firm she is very cool this episode was
00:01:30.000 full of tips and tricks this episode is
00:01:32.240 for you if you're considering starting
00:01:33.680 your own business or you're already
00:01:35.000 thriving in your girl boss era you are
00:01:37.360 definitely going to take away some very
00:01:39.960 important and valuable tips and tricks
00:01:41.960 from Kendra we covered the difference
00:01:45.079 between an expense and an investment in
00:01:47.799 your life and your business she shares
00:01:50.000 her three-step framework for determining
00:01:52.520 if you should start your own business
00:01:54.719 she talks a lot about the biggest
00:01:57.240 mistakes she sees female entrepreneurs
00:01:59.640 make
00:02:00.399 especially with money and then she also
00:02:03.200 talks about the things she's most
00:02:05.039 impressed with with female entrepreneurs
00:02:07.240 and the big moves that they make and
00:02:08.720 like how they really really nail it the
00:02:11.879 biggest thing that stands out to me is
00:02:14.080 that she breaks down how to become an
00:02:16.879 entrepreneur and really own your
00:02:18.959 finances and become financially literate
00:02:21.200 in a way that's not overwhelming and I
00:02:23.280 think this is something that a lot of us
00:02:25.440 do get a little bit of anxiety about so
00:02:28.879 again this episod so just for you if
00:02:31.080 you're thinking about starting your own
00:02:32.720 business and venturing into
00:02:34.200 entrepreneurship or you're already
00:02:35.519 thriving in that era for yourself you're
00:02:37.560 going to get very valuable tips and
00:02:39.519 tricks from this so with that welcome
00:02:41.879 Kendra Kendra thank you so much for
00:02:44.040 giving us time and talking to me today
00:02:46.519 absolutely thank you I'm glad to be here
00:02:49.400 wonderful well before we dive into all
00:02:52.080 of the many topics that we're going to
00:02:53.800 cover today with you could you just give
00:02:56.000 our audience a quick overview of what
00:02:58.800 you're doing now
00:03:00.800 absolutely so I am the CEO of the
00:03:03.200 finance fil which is a fractional CFO
00:03:05.440 and accounting firm um we exclusively
00:03:07.879 support women on businesses product
00:03:10.280 based service based um doesn't matter as
00:03:12.200 long as you a woman ran and um we help
00:03:15.519 with all things accounting and CFO work
00:03:18.280 and taxes amazing and how long have you
00:03:21.920 been running this business so I started
00:03:24.959 this business almost 10 years ago at
00:03:26.560 this point um so it's been I think eight
00:03:28.560 years and I've been full-time seven
00:03:31.000 years um but I've always been in finance
00:03:33.959 even in my corporate life I was in
00:03:35.840 business finance yeah let's talk about
00:03:38.120 that so what was your life like before
00:03:40.400 you started your own
00:03:43.200 business um it was it was great actually
00:03:45.840 in corporate I love my corporate
00:03:47.480 experience I've always had like an
00:03:49.360 excellent team an excellent management
00:03:51.519 excellent bosses I never thought about
00:03:54.079 entrepreneurship ever it is does not run
00:03:56.360 in my family like both of my parents
00:03:58.680 were corporate climers
00:04:00.319 so um I was perfectly content in that
00:04:03.640 world I really enjoyed what I was doing
00:04:06.040 I was you know supporting CFOs of large
00:04:09.000 corporations like GE and we'd sit in on
00:04:11.280 these boardroom meetings and get to
00:04:12.760 listen in on at the CEO and the CFO
00:04:15.360 conversation and dialogue and that was
00:04:16.959 just very interesting to me so um yeah
00:04:20.040 my corporate experience was was actually
00:04:22.600 amazing and an entrepreneurship fell on
00:04:24.240 my lap and that's when the when the door
00:04:27.720 eyes you know the doors kind of open up
00:04:29.160 for me to entrepreneurship but um but
00:04:31.800 yeah my goal was always to kind of climb
00:04:34.320 incorporate how did it how did it fall
00:04:36.639 into your lap curious that story yeah I
00:04:39.919 literally I had just moved to Dallas
00:04:41.639 Texas and I was um shopping in a
00:04:44.240 boutique downtown which I never do like
00:04:46.639 I I'm online Shopper all day so I don't
00:04:48.479 know what I was doing but I some for
00:04:50.120 some reason did two things I never do
00:04:52.280 Drive downtown and go shopping in person
00:04:55.320 um so it was meant to be but I walked
00:04:57.000 into this Boutique and I'm just kind of
00:04:58.440 looking around and the owner comes over
00:05:01.440 with small top like folks do in stores
00:05:04.160 and she's just like oh so what do you do
00:05:06.000 and I'm like oh well you know I work
00:05:07.120 with Finance I just moved down here from
00:05:09.639 Atlanta and so we're just chitchatting
00:05:11.160 and she's like oh well if you work in
00:05:12.680 finance like you understand accounting
00:05:14.440 I'm like yeah she's like he maybe you
00:05:16.039 can help me with my business one day and
00:05:17.440 I was like yeah sure like show me put me
00:05:19.360 in contact with your accountant and I'll
00:05:20.840 talk to them and see what's going on
00:05:22.360 she's like I don't have an accountant
00:05:24.039 I'm like oh but you have like this
00:05:25.840 fabulous store you don't have an account
00:05:28.720 like how are you doing day-to-day
00:05:30.039 accounting she's like I'm not this is
00:05:31.479 why I need help so literally like a week
00:05:34.120 later I came back to um go into her
00:05:37.199 office and look at her numbers and look
00:05:40.759 everything over fast forward probably
00:05:43.280 about six weeks later I had helped her
00:05:45.560 get all of her accounting system in
00:05:46.840 order helped her understand her
00:05:47.960 financials her margins what was going
00:05:49.479 wrong with her payroll and it it really
00:05:52.720 showed me in that moment like what I was
00:05:54.880 doing in corporate was like paid
00:05:57.199 training for what I'm doing with with
00:05:58.960 women on day today because GE is going
00:06:02.080 to make billions of dollars whether I'm
00:06:04.360 in my office or not like I can literally
00:06:06.199 not be there and you're still going to
00:06:07.479 be fine right but but when I was working
00:06:09.960 with her I was like wait this is
00:06:12.479 changing your business this is changing
00:06:14.280 the people on your team because payroll
00:06:15.840 is no longer delayed right you're not
00:06:17.800 having stress in your personal life and
00:06:20.000 so I saw the impact and immediately I
00:06:22.400 knew I needed to turn this into
00:06:23.800 something bigger because the impact
00:06:25.400 there was just far more fulfilling than
00:06:27.360 what I was getting in corporate that
00:06:29.120 makesense total sense so you could just
00:06:31.560 I always feel like the experience I had
00:06:34.160 and you worked for much larger companies
00:06:35.639 than I ever have but I always felt like
00:06:36.880 my experience working for startups over
00:06:39.120 the last 11 12 years has been a mini MBA
00:06:43.000 because when you work for smaller
00:06:44.639 companies you just see so much more
00:06:46.599 reach across than cross functional
00:06:48.720 operation than you would if you're
00:06:49.960 working for a larger organization I'm
00:06:51.960 like okay this translates well actually
00:06:53.840 to entrepreneurship absolutely
00:06:56.039 absolutely you see you see so much and
00:06:58.039 you're able to impact so so much quicker
00:07:01.160 CU you're sitting in corporate you find
00:07:02.599 something that you want to fix or you
00:07:04.000 want to assist with and it there's so
00:07:05.759 much red tape it takes so much time for
00:07:07.440 it to actually move or get implemented
00:07:09.080 or it might not even get implemented but
00:07:10.879 when you're working with a smaller
00:07:11.879 business and you you share something
00:07:13.599 that might be impactful like they're all
00:07:15.560 for it they're like great okay let's do
00:07:17.199 it how do we do it you know so we're
00:07:19.080 hitting the ground running and we can
00:07:20.199 see that impact so much quicker so um so
00:07:23.599 yeah when you're in that smaller
00:07:24.599 business and you're supporting smaller
00:07:25.800 businesses you just you can make an
00:07:27.319 impact that's a lot larger and a lot
00:07:29.599 quicker so when you had that moment of
00:07:32.800 oh my gosh I need to turn this
00:07:34.479 experience of taking my SK skill set
00:07:36.840 from corporate and helping somebody with
00:07:38.520 a small business in such a big way into
00:07:40.440 a business model of your own that your
00:07:42.720 angle obviously is financial literacy
00:07:44.759 and your expertise in finance but I
00:07:47.599 think a lot of people listening if
00:07:49.319 they're still in corporate have a skill
00:07:51.800 set that could be applied to
00:07:53.199 entrepreneurship or starting their own
00:07:55.080 thing whether it's fractional work and
00:07:57.479 fractional leadership for smaller
00:07:58.960 business and their specific expertise
00:08:01.479 and so I think that this concept is
00:08:02.759 going to be really interesting I was
00:08:04.000 actually talking to my mother-in-law
00:08:05.759 over the weekend and she's an attorney
00:08:07.960 and she's an attorney for one firm right
00:08:10.000 now but she's realized that there's this
00:08:13.000 whole world of fractional legal work and
00:08:16.840 it could actually afford her the
00:08:18.120 lifestyle and flexibility rather that
00:08:20.759 she's looking for um maybe more so than
00:08:25.159 just picking one business and absolutely
00:08:27.840 so I I'm I'm very like talk us through
00:08:30.919 you how did you go from idea of wait I
00:08:34.080 could do this for a lot of small
00:08:35.719 businesses in a fractional capacity to
00:08:38.320 putting that in practice yeah um
00:08:42.120 relatively slowly like I started on the
00:08:44.320 side I probably built up I don't know a
00:08:46.279 client base of maybe only five or six
00:08:48.360 clients before um before I was confident
00:08:52.040 enough to actually put together then an
00:08:54.120 exit strategy of okay how much do I need
00:08:56.000 to save to leave corporate what does
00:08:57.640 that need to look like so I first made
00:08:59.600 sure that I just had consistent client
00:09:01.320 base and then I built up it was about
00:09:04.120 six months worth of savings but I mean
00:09:06.800 very that was very little for me because
00:09:08.360 at the time I didn't have any children I
00:09:09.760 had a spouse we shared the house
00:09:11.040 expenses so it wasn't a lot and then I
00:09:13.120 quit and I was able to then grow from
00:09:15.880 there but you're absolutely right with
00:09:17.760 the fractional Services it's something
00:09:19.519 it's actually had a conversation about
00:09:20.959 this earlier this week um fractional
00:09:23.200 CMOS fractional lawyers it's huge and
00:09:27.399 even more so now I think because if you
00:09:29.680 think about five six years ago that was
00:09:32.000 around the time that entrepreneurship
00:09:33.640 was definitely blowing up but everyone
00:09:35.200 was wunning their own team and so they
00:09:37.000 were hiring their own of everything
00:09:39.440 their own marketing department and their
00:09:40.880 own everything and trying to train
00:09:42.399 people up and now I feel like we're
00:09:44.519 shifting I think postco a lot of folks
00:09:46.360 are shifting too I don't want to be
00:09:48.560 responsible for all the people I just
00:09:50.959 want experts to come in and do what they
00:09:53.160 need to do you know work with me on okay
00:09:56.360 we to do X Y and Z but your team can
00:09:58.600 maybe even handle it like you're had the
00:10:00.440 adviser but also the implementer you
00:10:02.240 have the team that can also Implement
00:10:04.320 and so that's been huge um with a lot of
00:10:08.240 fractional Services I think that's where
00:10:10.040 that model is kind of Shifting just in
00:10:11.880 general yeah and I was reading something
00:10:15.079 I think it was a Forbes article in the
00:10:16.519 last six months or so talking about the
00:10:18.399 rise of fractional work in general and
00:10:21.160 how people are seeking businesses and
00:10:24.079 large businesses and smaller businesses
00:10:26.079 are seeking folks that are very
00:10:28.079 specialized in their craft and don't
00:10:31.959 have the requirement of working
00:10:33.160 full-time because not every business has
00:10:35.040 a full-time need for everything they
00:10:36.959 need a specialist for and so I think
00:10:40.200 positioning yourself this way was
00:10:42.399 obviously so smart and it's a very
00:10:43.920 repeatable business model for those that
00:10:45.560 are again an attorney a marketer sales
00:10:48.279 leadership all of these different crafts
00:10:50.480 that if you've built a lot of experience
00:10:52.920 in you come in very credible especially
00:10:54.720 if you're helping a smaller business and
00:10:57.000 even if they do have a need for a
00:10:58.600 full-time person or even if they have a
00:11:00.600 need for a few full-time people you
00:11:02.600 likely depending on your business like
00:11:04.440 your actual business you likely could
00:11:06.200 even save them the overhead of having
00:11:08.560 full-time folks and if you have yourself
00:11:11.440 as maybe the the leader of the
00:11:12.959 organization um from The Advisory
00:11:15.079 standpoint but you have the team that
00:11:16.279 can also execute so that's that's like
00:11:19.240 where it's a double you know a double
00:11:21.360 win because not only are you coming in
00:11:22.880 as the advisor if you're also being able
00:11:25.200 to handle implementing the work it's
00:11:27.600 it's a lot easier to think about from a
00:11:29.560 um a CMO standpoint so like the if you
00:11:31.600 were to Outsource REM marketing
00:11:33.079 department okay I I have a a marketer
00:11:36.079 who understands the ins and outs of all
00:11:37.760 things marketing but they also have the
00:11:39.480 team that can execute those things those
00:11:41.440 ideas they have a department that can do
00:11:42.959 the social media management they have a
00:11:44.360 department that can create the graphics
00:11:45.680 in the website copy like that's even
00:11:48.240 better because not only are you um
00:11:50.880 guiding me on what I need to do but you
00:11:52.480 also can then get it done and that does
00:11:55.040 save a lot of times multiple full-time
00:11:57.240 headit counts and I'm not having to
00:11:59.120 worry about managing the team I'm not
00:12:00.600 having to worry about keeping my um
00:12:03.399 tools the latest and greatest tools
00:12:05.399 because your team your company handles
00:12:07.360 that and so there's fractional services
00:12:10.200 from the standpoint of being a solo
00:12:12.120 leader and adviser but then also
00:12:14.240 building out your team which is what I
00:12:15.680 had to do because I'm not an accountant
00:12:17.440 so I had to build out the accounting
00:12:18.839 team to be able to I could advise from a
00:12:21.079 financial standpoint but then I also
00:12:22.519 need the accounting team to carry on
00:12:24.720 with the day-to-day accounting work so
00:12:27.240 you have a team of how many now
00:12:29.639 we're now up to nine we're now up to
00:12:31.639 nine and most of that is on our
00:12:33.000 accounting side oh wow okay and that was
00:12:36.120 just based on business demand yes yes
00:12:39.519 because all of our clients at least do
00:12:41.360 our accounting service and then some
00:12:43.560 will also do the fractional CFO so
00:12:45.800 everyone does to do fractional CFO
00:12:47.320 everyone doesn't need it um all the time
00:12:49.560 but everyone does at least do the
00:12:50.839 accounting work so that team has to get
00:12:52.720 obviously built out the most that makes
00:12:55.120 total sense and how have you gained your
00:12:57.440 client base have you been finding I
00:13:00.000 would say
00:13:02.079 85% is Word of Mouth current clients
00:13:05.160 just telling other clients telling other
00:13:07.040 clients and that's the bulk of it in the
00:13:08.880 beginning I think it was word of mouth
00:13:11.680 and then also a lot of social media but
00:13:13.399 was kind of cut down on social media and
00:13:17.079 we're still just growing mainly through
00:13:18.880 Word of Mouth current client base and
00:13:21.399 you made the decision to focus on
00:13:24.199 serving clients that are female owned
00:13:26.839 female L and operated business is can
00:13:29.519 you tell us about that decision I mean I
00:13:31.760 love it but I just want to hear your
00:13:33.720 thought process behind it yeah it was
00:13:35.880 such an easy decision because women like
00:13:38.720 we just we we have to do so much like we
00:13:43.040 lead our families we lead our
00:13:45.320 friendships we lead our households we
00:13:47.800 lead so much and just to start a
00:13:50.839 business there's already like that
00:13:52.120 barrier of Entry there of just well can
00:13:54.600 I actually dedicate this much time to
00:13:56.680 myself to build something that I want to
00:13:58.320 build when I have family and kids and
00:14:00.920 all these other responsibilities and so
00:14:03.639 you 100% need support when you're
00:14:05.519 building your business and some capacity
00:14:07.399 whether it's like an assistant or
00:14:08.839 whatever if you need some kind of a
00:14:10.040 support and so I definitely wanted to be
00:14:12.279 that support for women to help them be
00:14:14.880 able to confidently grow their business
00:14:17.279 and so for me it was just it was very
00:14:19.519 easy to know this is going to be
00:14:21.279 something where we're going to Niche
00:14:22.320 down and really focus on women that are
00:14:23.839 wanting to um you know grow their
00:14:27.040 businesses and is there a obviously in
00:14:30.720 your corporate career you were working
00:14:31.959 with both men and women do you feel like
00:14:33.600 there's a big difference in the way that
00:14:35.320 women make decisions about their
00:14:37.880 business and the thought process and
00:14:40.079 support that they need from you as an
00:14:43.320 advisor as compared to how you were
00:14:45.920 working with men in corporate yeah
00:14:47.720 that's a great question I felt like a
00:14:49.959 lot of times in corporate or just in
00:14:51.480 general when I was working with men and
00:14:53.040 and I will admit I've had a few cool
00:14:54.720 dudes that I've worked with the last few
00:14:56.720 years you know I'll throw them in here
00:14:58.680 every once in a while but um the
00:15:00.920 difference is definitely different like
00:15:02.639 the the M usually a little bit more
00:15:05.240 decisive a little bit more of a risk
00:15:07.480 taker um it's almost like you show the
00:15:10.240 data and they're like okay yep boom
00:15:11.839 let's go with it let's do it whereas
00:15:14.440 sometimes this woman included myself I
00:15:15.920 have to kind of talk through it a little
00:15:17.199 bit more get a little bit more of the
00:15:19.079 understanding on like okay wait a second
00:15:20.560 so if I invest this then XY it's going
00:15:23.120 to happen or like walk me through that
00:15:25.720 which I actually love because there's
00:15:27.800 this component of data and then there's
00:15:30.160 this component of emotion and like your
00:15:32.120 gut instinct and our gut instinct is so
00:15:34.519 real our intuition is so real and so I
00:15:37.199 love that we leverage both what I find
00:15:40.240 is that sometimes we Leverage The the
00:15:43.240 gut instinct um not too much but a lot
00:15:47.040 more and we don't want to look at the
00:15:48.800 data and that's where I kind of come in
00:15:50.360 to try to show like hey this data can be
00:15:52.360 very helpful and insightful to your
00:15:55.120 intuition it's not telling your
00:15:57.040 intuition no no no no it's just helping
00:15:59.519 guide guide you because you have the
00:16:01.560 information in front of you versus it
00:16:03.480 just being 100% feelings based and um
00:16:07.040 that's where I love to see that
00:16:08.639 transformation because it's like okay
00:16:10.480 I'm confident in how I feel about a
00:16:12.120 decision but now I'm super confident
00:16:13.839 because it also has some data to support
00:16:16.399 why I should or shouldn't go a certain
00:16:18.160 way the way you framed that makes so
00:16:21.759 much sense and is really really
00:16:24.600 impactful being data being a data driven
00:16:28.279 person doesn't mean that you don't tap
00:16:31.759 into your intuition and don't have a
00:16:34.639 high EQ barometer that you're going to
00:16:37.079 use to make decisions in business being
00:16:39.360 data driven like you said makes you feel
00:16:41.959 so much more confident and comfortable
00:16:43.600 that you've made the right decision if
00:16:45.720 you have both the emotional side and the
00:16:48.440 data side in alignment or at least
00:16:50.480 informing each other right it's
00:16:53.040 informing each other because there are
00:16:54.319 times where someone a client will come
00:16:56.000 to me and they say I want to do XY andz
00:16:57.639 I I really want to hire a new you know
00:17:00.680 whatever uh and I'm like okay and so
00:17:03.519 they're all for it they really feel like
00:17:05.959 it's a good move to make but financially
00:17:07.599 I'm showing the numbers and I'm just
00:17:08.799 like this might be a little bit of a
00:17:09.919 stretch or a stress to the business to
00:17:12.240 do this and they still push forward with
00:17:14.799 doing it they had the data to help them
00:17:16.720 but they still pushed forward with doing
00:17:18.039 it and they were 100% right because that
00:17:20.439 person came in they knocked out of the
00:17:21.880 park it's exactly the position that they
00:17:23.640 needed in that position or in that
00:17:25.240 company to really relieve them of some
00:17:27.959 of the data stuff and so it was an
00:17:30.160 amazing decision to move forward but
00:17:32.600 they had the data to know what could or
00:17:35.000 could not happen but they still went
00:17:36.760 with the intuition still go with that
00:17:39.080 but let let's bring the data into the
00:17:41.120 equation so that you can um feel more
00:17:43.600 confident about where it is that you're
00:17:45.480 you know that you're taking the business
00:17:47.400 in a lot of ways the intuition and
00:17:49.720 emotional side of decision-making that
00:17:51.640 women carry with them is a superpower
00:17:54.320 because Men A lot of times are very
00:17:56.200 objective about things and are just data
00:17:57.880 driven and they lack the other side of
00:17:59.360 it and they miss things they don't see
00:18:00.880 things and there's a lot of men that
00:18:02.679 have tapped into this and are great at
00:18:04.159 it but generally speaking um you mention
00:18:06.880 that you notice women sometimes not
00:18:09.240 being as decisive or they need to
00:18:11.720 process and talk through things a lot
00:18:13.200 more which is absolutely not a bad thing
00:18:15.559 but I think a lot of that comes from how
00:18:19.039 we were raised and just culturally men
00:18:23.520 and boys are brought up to be brave take
00:18:27.640 risks
00:18:28.840 know what you want make a decision and
00:18:32.600 girls and who grow into women are kind
00:18:35.000 of taught like are you sure be careful
00:18:37.880 like oh you should save women aren't
00:18:40.320 great with money and I don't know if you
00:18:42.880 I'm sure you know about um the company
00:18:44.720 elevest which I really love and I've
00:18:47.520 followed I I've loved it both because
00:18:49.480 it's a great tool that I've used for
00:18:51.440 wealth building and investing because
00:18:52.880 it's so easy but I've also loved the
00:18:54.799 education that comes along with that
00:18:56.440 platform and they share with you so many
00:18:57.960 statistic ICS on like here's how women
00:19:00.520 or girls are raised here's what we tell
00:19:02.280 boys here's how this impacts the
00:19:04.159 confidence you have in investing in
00:19:06.440 wealth building today and this is how
00:19:07.919 it's going to make you have to be aware
00:19:09.919 of it if you're going to correct it or
00:19:12.280 get to a place where you can be the
00:19:14.960 empowered woman in business who is both
00:19:16.960 data driven and has an emotional
00:19:19.159 component to decision making absolutely
00:19:22.679 because once we tap into that then
00:19:25.120 there's really no stopping us at that
00:19:26.520 point because there's this level of
00:19:27.760 confidence that you have and really with
00:19:30.039 money with business with
00:19:31.320 entrepreneurship but also just with
00:19:32.720 money in general it's about confidence
00:19:34.919 like if you can confidently invest in
00:19:37.600 something or if you can um confidently
00:19:40.280 save for whatever it is that you're
00:19:41.760 trying to save for but it's about that
00:19:43.679 confidence Factor um that makes that
00:19:46.679 makes a big difference in how your
00:19:48.320 business
00:19:49.159 performs can you talk to talk a little
00:19:52.679 bit to the biggest mistakes that you see
00:19:56.120 with female entrepreneurs or female
00:19:57.919 business women that you work with make
00:20:01.000 that it would be helpful to call out so
00:20:03.799 that if other especially our audience
00:20:05.600 find themselves in those position they
00:20:07.640 they can just be conscious of it like
00:20:09.360 what types of mistakes are you
00:20:10.480 constantly seeing yeah so the biggest
00:20:12.799 thing is just avoidance like just flat
00:20:15.400 out and not even looking at your numbers
00:20:17.080 like just not wanting to see it not
00:20:18.760 wanting to know what they are um and a
00:20:21.320 lot of times I think that's based in
00:20:23.240 fear you know just scared of what
00:20:25.520 they'll see if they'll see if they're
00:20:27.240 overspending they'll see that they're
00:20:29.200 not making as much as they thought that
00:20:31.039 they were making so just flat out not
00:20:33.400 looking at the numbers so for sure you
00:20:34.760 want to look at your numbers now whether
00:20:36.400 you're working with an accountant or not
00:20:38.600 just doing what I I like to call a money
00:20:40.559 date but it's basically where on a
00:20:41.919 weekly basis you're just looking at your
00:20:43.679 your bank statements even just logging
00:20:45.159 into your bank account and looking at
00:20:46.520 the last seven days worth of history and
00:20:48.200 seeing how things look and you'll start
00:20:50.159 to over time understand your habits and
00:20:53.240 where you're spending money and how
00:20:54.520 things are you know how things are
00:20:55.760 looking and again that clarity is what
00:20:58.720 is going to build the confidence and
00:21:01.559 that's you just have to have that
00:21:03.480 Clarity and that confidence when you're
00:21:05.320 when you're building a business but also
00:21:06.799 just in your personal life when it comes
00:21:08.080 to finances um so for sure one thing is
00:21:11.279 going to be not looking at your numbers
00:21:12.679 and then another big thing is um when I
00:21:15.880 say this with the caveat don't want you
00:21:18.640 know don't go there spinning willly nly
00:21:20.799 yeah but um almost like understanding
00:21:23.159 the differ between an expense and an
00:21:24.960 investment it's kind of gray it's not as
00:21:27.559 as black white as I wish it was but
00:21:30.200 there are expenses but you're almost
00:21:31.559 like these sunken costs that you're
00:21:32.720 going to have in business that you just
00:21:33.919 have to spend and you're not necessarily
00:21:35.320 recouping anything back but then there
00:21:37.159 are investments where you are hiring a
00:21:39.400 person who in some way whether it's
00:21:42.200 they're bringing in dollars or they're
00:21:43.559 just bringing in more time for you um
00:21:46.039 but they're in some way benefiting you
00:21:48.039 or the business and the business um and
00:21:51.039 so that's like an investment so I feel
00:21:53.400 like sometimes there's this fear of just
00:21:55.120 spending any money and it's like okay I
00:21:57.559 I'm I'm nervous to do that so there is
00:22:01.559 going to come a time in your business
00:22:02.880 where you're going to have to hire a
00:22:03.880 team and expenses associated with that
00:22:06.159 and it's fearful there can be some fear
00:22:07.720 associated with it but um those are
00:22:09.640 really the main two things it's like
00:22:10.960 just not even looking at it at all or
00:22:13.120 being scared to spend any money in the
00:22:16.360 business can you define again the
00:22:18.799 difference like the framework of
00:22:20.679 thinking that you should take to
00:22:23.039 determining whether something is an
00:22:25.120 investment in your business or yourself
00:22:27.159 in your life vers
00:22:28.640 just an expense yeah for sure so it's
00:22:31.600 usually like what's the output so um if
00:22:34.120 you're buying a like a a a software or a
00:22:37.200 SAS tool or hiring a person if you're
00:22:39.840 thinking about what's the outcome or the
00:22:41.840 output that that this thing is providing
00:22:44.520 and if that is either money meaning if
00:22:46.760 it's a if it's a salesperson on your
00:22:48.919 team well then they're likely going to
00:22:50.080 be bringing in sales that's money or if
00:22:52.200 it's just time so maybe they're an
00:22:54.640 assistant and because they're coming in
00:22:56.880 they're going to remove move 50% of the
00:22:59.200 tasks that are on your calendar and free
00:23:00.880 you up to actually just have more time
00:23:02.679 to do things that are more high value in
00:23:04.720 your business so if you think about okay
00:23:06.960 if I purchase X Y and Z these items
00:23:09.640 what's the output that's going to come
00:23:10.880 on the other side of it if it's those
00:23:12.760 top two resources of money and time then
00:23:15.600 usually that's more of a of an
00:23:16.960 investment if it's um a tool that is I
00:23:20.799 don't know it's a with's a tool it's not
00:23:23.120 necessarily an investment there's so
00:23:24.520 many fast tools out these days but if
00:23:27.320 it's something you're spending money and
00:23:28.919 it's not necessarily bringing you back
00:23:30.760 anything um then it it might just be
00:23:33.640 considered like Zoom as an example right
00:23:36.039 there's Zoom which is fine it's
00:23:38.360 relatively inexpensive but there's also
00:23:40.360 free versions of that or there's lower
00:23:42.840 cost versions of that so kind of
00:23:44.279 thinking about it in in that perspective
00:23:46.480 how would you think about
00:23:48.120 categorizing the uh the things that
00:23:51.760 increase culture within a business like
00:23:55.240 the expense to have a company off
00:23:57.880 offsite or a holiday party or things
00:24:01.720 like that yeah that's a good question I
00:24:04.200 would definitely say that's more on the
00:24:05.760 investment side particularly if the team
00:24:09.039 if team morale is like something that is
00:24:12.039 not necessarily something this to get
00:24:13.320 worked on because it's always important
00:24:15.000 but if if um if you think it's
00:24:16.919 advantageous to your team like there are
00:24:18.559 some teams are like I'm 100% remote I'm
00:24:21.640 good only kind of communicating with my
00:24:23.520 team online we don't have to do anything
00:24:26.080 in person but if you think it's
00:24:27.559 something that's advantageous and that
00:24:28.880 would be a morale booster then 100% just
00:24:31.880 set a budget for it and just know what
00:24:33.720 that budget is based on what the company
00:24:35.480 can afford and then the value that you
00:24:37.799 think um that would bring are you
00:24:39.559 somebody that loves to listen to podcast
00:24:42.720 learn and consume knowledge in general
00:24:45.080 but maybe you find the process of
00:24:47.399 picking those episodes that are really
00:24:49.120 value packed and worth your time
00:24:50.799 challenging am I right you're busy I get
00:24:53.399 it if that's the case the pod squad is
00:24:56.120 for you every Tuesday Haley and I are
00:24:58.919 dropping in your inbox the absolute best
00:25:01.919 listens for personal development and
00:25:04.360 business podcast for the week we will
00:25:06.600 even give you the cliff no version so
00:25:09.000 that you can still apply the takeaways
00:25:10.799 and consume the knowledge quickly even
00:25:12.720 if you don't have time to listen to them
00:25:14.440 all to get the wreck sent to you just go
00:25:17.200 to get
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00:25:23.120 notes and enter your email address and
00:25:25.080 that's all you have to do you will look
00:25:27.080 forward to this every single week and it
00:25:29.159 will just be your listening cue until
00:25:31.000 the following Tuesday I hope you enjoy
00:25:33.440 do you have a Playbook or some kind
00:25:36.840 of starter kit it doesn't have to be
00:25:39.520 physical asset but just in your brain
00:25:42.120 that you share with women who want to
00:25:45.520 start becoming more financially literate
00:25:47.960 and taking control of their finances and
00:25:49.840 looking at the numbers as you say to
00:25:52.559 because they know it's important to grow
00:25:54.320 their money or make strategic
00:25:56.360 Investments that are going to going to
00:25:57.880 help them longer term reach goals that
00:26:00.120 they have um like what is the starting
00:26:02.880 point what is the what is the baby steps
00:26:06.000 if you will and not the Dave Ramsey
00:26:08.080 version the Kendra
00:26:09.640 version yeah there's like this I like to
00:26:11.840 call it like this go no go workflow and
00:26:14.480 so it's essentially like how I make
00:26:17.120 decisions and how I help clients make
00:26:18.600 decisions and so theend like we walk
00:26:20.279 through this series of questions and
00:26:21.679 then at the end of it we can decide like
00:26:23.799 do we go do we move forward with this
00:26:25.520 thing this new hire this new tool
00:26:27.159 whatever do we not at this time maybe
00:26:29.120 you know table it for another day but
00:26:31.520 essentially you're starting with um with
00:26:34.440 your like how it makes you feel so if
00:26:36.399 you're trying to determine I want to
00:26:38.279 start this business but I'm not exactly
00:26:40.120 sure um if I should do this service or
00:26:42.880 this service or if I should leave my
00:26:44.440 corporate job Fort first just thing
00:26:46.159 about how does it make you feel does it
00:26:47.880 make you feel extremely overwhelmed to
00:26:49.559 just think about doing it then is
00:26:51.399 probably probably already a no-go right
00:26:53.799 it's probably not what you want to do
00:26:55.480 but if it really lights you up and
00:26:56.760 you're like okay I can figure out how to
00:26:58.200 make this happen then great now we move
00:27:00.279 through the the feeling part of it and
00:27:02.080 of course you can add in different
00:27:03.880 layers of questions but the first
00:27:05.360 section is really feelings based then we
00:27:07.720 start to move through operationally like
00:27:10.159 operationally how can this work so now
00:27:12.320 that we know that it feels good
00:27:13.840 operationally how can I actually run
00:27:15.679 this business if I also have a full-time
00:27:17.399 job or if maybe I'm just starting off if
00:27:19.039 I'm a stay-at home long okay maybe
00:27:20.880 Tuesdays and Thursdays I can dedicate
00:27:22.679 9:00 a.m. to 1: p.m. and getting this
00:27:24.480 done because we have you know a nanny or
00:27:26.360 my sister's here watching my sign or
00:27:28.039 something like that so you can think
00:27:29.600 about operationally how can you make
00:27:31.520 this happen and if you can find a way
00:27:33.679 operationally then we can move forward
00:27:35.600 to the next phase which is financially
00:27:38.200 so then financially it's like Okay so
00:27:40.600 we've already determined operationally
00:27:42.240 that we need Tuesdays and Thursdays 9 to
00:27:44.240 one so I have to have you know money to
00:27:46.600 pay for the NY or the sitter or whoever
00:27:49.000 is here I have to have money for um
00:27:53.440 whatever other startup cost that you
00:27:55.120 have but you start to then think about
00:27:56.840 financially can you make that happen and
00:27:58.640 if you if you are hitting a brick wall
00:28:00.960 there then we understand that okay I
00:28:03.159 know that I at least need x amount
00:28:05.200 because we've been able to kind of
00:28:06.120 quantify it in those questions I need x
00:28:08.840 amount to be able to then get through
00:28:10.320 this financial phase and if you can get
00:28:12.320 through those three how do you how does
00:28:13.840 it make you feel operationally how can
00:28:15.880 you make it happen and financially how
00:28:17.720 can you make it happen you've already
00:28:19.320 created your blueprint right there
00:28:21.000 because you have operationally your
00:28:22.320 day-to-day what's going to make it
00:28:23.600 happen financially how much money do I
00:28:25.559 need to make it happen and you can
00:28:27.080 already start to roll it out and every
00:28:29.320 time you have a major decision you can
00:28:31.000 just put it through that same funnel how
00:28:32.960 do this make me f operationally how can
00:28:35.159 I do it financially how can I do it I
00:28:37.720 love that that's amazing so simple too
00:28:40.399 feel operationally and financially if
00:28:43.159 you can get those three things down then
00:28:44.720 that's your blueprint to get start we
00:28:46.880 put financially at the end because I
00:28:48.519 know sometimes people are like well
00:28:49.519 you're in finance why don't you put
00:28:50.559 financially first well because you don't
00:28:52.360 want to hit yourself with that like you
00:28:54.440 you first what really matters is how
00:28:56.279 does this feel like do I even want to do
00:28:58.720 this sometimes we start businesses and
00:29:00.200 we do things because we're financially
00:29:02.679 focused and we think it can make us so
00:29:04.159 much money but it's not doesn't even
00:29:05.799 feel well to us so we want to start like
00:29:08.679 it's it's in that order kind of for a
00:29:10.640 reason I know that you mostly work with
00:29:13.919 entrepreneurs and business owners but
00:29:15.760 what about the framework to think about
00:29:18.080 Building Wealth and just having a great
00:29:20.399 handle on your finances if you're
00:29:21.720 somebody that wants to stay in corporate
00:29:24.320 and it's you just happen to be like a
00:29:26.120 high earner and you're climbing that
00:29:28.279 corporate ladder and it's like oh my
00:29:30.399 gosh okay I could put my money in a high
00:29:31.880 yield savings account but I'm probably
00:29:33.799 should be doing something more savvy
00:29:35.240 than that yeah well the biggest thing I
00:29:38.159 think um whether you're incorporate or
00:29:40.200 whether you're you starting a business
00:29:41.399 or both is to always keep that end goal
00:29:44.200 in mind because I think sometimes if you
00:29:47.120 are whether you're a high earner or
00:29:49.039 whether you're doing well in your
00:29:50.039 business you're you can be focused on
00:29:52.120 the money and how and like the quantity
00:29:54.080 of it how much is it should I be putting
00:29:56.000 20% aside for this and 30% aside for
00:29:58.440 that it all depends on what the end goal
00:30:00.360 is so is your end goal to retire early
00:30:03.600 at 45 is your end goal to put your kids
00:30:06.600 through college and then just like go
00:30:09.039 off and live on the land quietly and
00:30:11.360 nobody know it just depends on what
00:30:12.960 you're in goal is so you want to always
00:30:14.840 be very sure with yourself on what that
00:30:17.120 angle is tap into your you know how
00:30:18.880 you're feeling every once in a while
00:30:20.080 check in and make sure that it hadn't
00:30:21.279 changed usually it doesn't change
00:30:23.440 drastically um but know what your end
00:30:26.279 goal is what you doing this for and then
00:30:28.840 that helps you create the path to get
00:30:31.360 there um living on the land you
00:30:34.440 know going 10 years to live on the land
00:30:37.000 quietly is going to look very
00:30:38.120 differently than in five years I want to
00:30:40.440 retire and have a yacht and like a
00:30:42.080 penthouse in Miami so no it is and then
00:30:44.960 once you have the goal though it's so
00:30:46.360 much easier to do the things whether
00:30:48.240 it's saving or putting money in a high
00:30:49.760 yield account or putting more money in
00:30:51.679 your retirement account once you know
00:30:53.039 the end goal it's a lot easier to do the
00:30:54.840 steps to get there 100%
00:30:58.039 I personally have always felt like I'm
00:31:00.559 doing all the things that you're talking
00:31:03.240 about but I still I don't know what it
00:31:05.799 maybe it's just a societal pressure or
00:31:08.200 like feeling but I'm still always like
00:31:10.200 ah I could be doing more I should be
00:31:11.799 doing more is there a resource that you
00:31:14.000 like or like a guide that you like of
00:31:16.200 okay the check maybe no a checklist are
00:31:18.799 you investing in a retirement plan do
00:31:21.159 you have cash in a high yield are you
00:31:24.480 very intentional with your investing
00:31:26.760 Strat y to hit that working backwards
00:31:29.720 goal that you just mentioned if you have
00:31:32.200 kids you're putting money in this
00:31:33.559 account like all the things that we hear
00:31:34.960 we're supposed to be doing is there some
00:31:36.639 resource you like like checklists that
00:31:38.399 somebody can look at just to see where
00:31:39.919 they're at you know unfortunately
00:31:41.880 because it's so customized right it just
00:31:44.120 depends on what your end goal is but the
00:31:45.840 one thing that you can do is you can
00:31:47.039 create that checklist for yourself by
00:31:48.919 quantifying what your end goal is so if
00:31:51.799 your end goal is retire in 10 years and
00:31:55.519 I know that okay if I retire in 10 years
00:31:57.159 years and I have a life expectancy of
00:31:58.720 whatever then I need to be able to pay
00:32:01.240 for my life for those let's just call it
00:32:03.039 40 years and if have 40 years you're
00:32:05.360 trying to live in retirement and you
00:32:07.120 know you need a $100,000 a year to to
00:32:09.960 live you can quantify how much do you
00:32:11.960 need then in 10 years and if I need that
00:32:14.120 much in 10 years how much do I have
00:32:15.880 currently and how much can I continue to
00:32:18.200 contribute every year until that 10
00:32:20.760 years hit and then you can see if
00:32:22.360 there's a gap and if there's a gap okay
00:32:24.639 well then maybe I need to actually put
00:32:26.240 more in there right now now or find a
00:32:27.720 way to get an additional 10K a year to
00:32:30.120 put into this into this account but you
00:32:32.480 you can create your own checklist by
00:32:34.360 just quantifying what that end goal is
00:32:37.440 and that's that's the starting point
00:32:39.200 that's literally what we do in tax
00:32:40.519 planning like we figure out what's your
00:32:42.240 end goal okay let's create the number
00:32:44.320 for that and then we back into it um so
00:32:47.519 you absolutely can have the checklist
00:32:49.559 now the other thing is that you mention
00:32:51.679 you might feel like you're um like
00:32:53.279 there's always something more you can do
00:32:54.639 it's because there's a million different
00:32:56.679 ways
00:32:57.960 to save to invest to make money and so
00:33:02.720 when we're bombarded with all of these
00:33:04.600 different ways on social media and all
00:33:07.240 oh wait I can do this too and oh wait I
00:33:09.000 can do that too but that's where knowing
00:33:11.159 your end goal and kind of keep keeping
00:33:12.679 your head down on your angle that's
00:33:13.919 where that helps because it's like okay
00:33:15.639 and there is of course there's crypto of
00:33:18.000 course there's Tesla stock of course
00:33:19.840 follow Walmart swing three one stock
00:33:21.360 spit maybe I need to go invest there
00:33:23.000 it's like all these different things are
00:33:24.279 going to come your way but when you know
00:33:26.200 like that doesn't even matter for me
00:33:27.880 because my end goal is to just put 2K
00:33:30.000 aside each month in my y savings account
00:33:32.880 because that's all that I'm going to
00:33:33.880 need to hit my goal that it becomes a
00:33:36.039 lot easier to block out that noise
00:33:38.039 that's really helpful it's always about
00:33:39.480 working backwards from what your
00:33:40.679 personal goals are there's no one-size
00:33:42.120 fits-all strategy to get to where you're
00:33:43.960 going because it's completely customized
00:33:45.880 to you it's so funny you mention that
00:33:47.600 there are so many things that come at
00:33:49.080 you of investment opportunities or just
00:33:52.039 things that are you should be aware
00:33:53.960 could be aware of like I was on a flight
00:33:56.080 a couple of weeks ago and I watched that
00:33:57.919 um GameStop doc film about when the
00:34:01.120 GameStop stock exploded I'm like why
00:34:03.399 didn't I invest in that it's like duh
00:34:05.480 because that was not part of my goal and
00:34:07.360 I had no intention of using like very
00:34:11.159 volatile single stocks to grow wealth
00:34:14.280 but I think also there's you know hot
00:34:16.679 take like you don't just because you
00:34:18.399 don't have a rental property doesn't
00:34:20.199 mean you're messing up in your wealth
00:34:21.520 building strategy right now might not be
00:34:23.480 the right time to be buying rental
00:34:25.079 properties interest rates are super high
00:34:27.040 debt is not cheap and like that's it's
00:34:29.719 going to be really hard to make the
00:34:30.839 money on a monthly rental or what you'd
00:34:33.560 have to charge monthly to recoup your
00:34:35.960 cost of something that's a pretty high
00:34:38.000 expense debt right now and I feel like
00:34:39.960 that's a big one people are like real
00:34:41.760 estate's the way to wealth and yeah it
00:34:43.800 is one way to wealth and it depends on
00:34:45.440 the market and it depends on the timing
00:34:46.960 of it but it especially I don't know it
00:34:49.520 doesn't seem to be the way to wealth
00:34:51.079 unless it's like your primary residence
00:34:52.679 right now right right no absolutely and
00:34:54.839 so to that I would say one way that's
00:34:56.639 like a and that you know if you have
00:34:59.160 excess money or just money that you
00:35:00.480 currently just have in your savings
00:35:01.720 account and you're like okay what can I
00:35:03.359 do with this and it's not money that you
00:35:05.520 want to tie up long term so it's not
00:35:07.160 money you want to put in a stock market
00:35:08.599 or something like that then for sure a
00:35:10.680 high savings account I mean those I know
00:35:13.400 for some they're going to hear like oh
00:35:14.960 5% and they're going to say but wait I
00:35:16.839 can do XY and Z here yes you can but
00:35:20.480 it's it's more risky there and you are
00:35:22.560 guaranteed this 5% if you put it into
00:35:25.160 this High sa account sure that's one of
00:35:27.720 the like um easier steps that you can do
00:35:31.560 where if you already have money sitting
00:35:33.079 in a savings account with like a Chase
00:35:34.960 or a Bank of America or Wills Fargo
00:35:37.040 where you're getting two cents deposited
00:35:39.280 into your account every month for for
00:35:41.400 your interest um bringing over to our
00:35:43.680 high yield savings account and and
00:35:45.480 you'll be very happy when you get that
00:35:47.720 interest income coming in basis that's
00:35:50.079 so easy there's no reason not to do that
00:35:51.880 because it's not even like you're
00:35:53.119 getting charged a big fee or anything
00:35:54.640 like that
00:35:55.800 that's
00:35:57.680 okay so now I'm I you shared with us
00:35:59.680 some of the biggest mistakes that you
00:36:01.000 see female entrepreneurs or business
00:36:03.040 women make what about some of the most
00:36:05.000 like Savvy impressive things that you've
00:36:07.440 seen in your career with your clients
00:36:09.720 that they've done that maybe were a
00:36:11.839 result of that data plus emotion or or
00:36:15.520 whatever however they got there I'm so
00:36:16.960 curious just what really has impressed
00:36:18.440 you yeah I would say those who just who
00:36:22.480 um really double down on what works well
00:36:25.480 in their business and stay focused there
00:36:28.920 you know and and I'll say I'll shout out
00:36:31.839 Haley here I mean she's done an amazing
00:36:34.280 job at this she has built an amazing
00:36:37.119 business and opportunities are always
00:36:40.160 coming her way but it's like she does a
00:36:42.240 great job focusing in on what makes
00:36:43.960 sense for her and what makes sense for
00:36:45.240 her community and that that works
00:36:48.960 because you know if you don't want to be
00:36:52.400 known for doing this one thing one day
00:36:54.400 and then having a whole different
00:36:55.520 business model the next day and then
00:36:57.160 next week now you're doing this thing
00:36:58.680 over here and so to just be consistent
00:37:00.920 at what you're doing that that's working
00:37:02.560 well I think that that um that that's
00:37:04.960 kind of the key um also another kind of
00:37:07.839 Savvy thing that we that we see a couple
00:37:09.760 of clients do that we've actually helped
00:37:11.079 them Implement is hiring their
00:37:13.119 family I'll do another caveat here
00:37:15.480 though netism it can work really well
00:37:19.480 and it can work not so well you
00:37:20.880 definitely want to make sure that
00:37:22.000 there's actually a good fit for the
00:37:24.480 position right building something for
00:37:26.760 your family member usually does not
00:37:28.480 result in a great experience but if
00:37:30.760 they're already a great fit for what you
00:37:32.480 need then okay you know maybe we can
00:37:35.560 talk about it but there could be some
00:37:37.200 savings there when you're hiring
00:37:38.599 especially if they're your kids there
00:37:39.960 could be some savings there when you
00:37:41.680 hire your children into your business
00:37:44.000 that if you were to hire another you
00:37:45.680 know 18-year-old to do the job you
00:37:47.520 wouldn't have that additional savings
00:37:48.800 there so I think knowing um knowing I
00:37:53.240 wouldn't call them loopholes because a
00:37:54.480 lot of them are very wellknown at this
00:37:55.920 point but knowing some some different
00:37:56.960 tap strategies can definitely be
00:37:58.839 advantageous to you as a business owner
00:38:01.400 um when you're wanting to do whether
00:38:03.359 it's hiring or opening up a different
00:38:05.240 location things L that's a great point
00:38:08.880 I'm glad you said that I've been
00:38:10.000 considering hiring my brother lately so
00:38:12.119 thanks sir thanks for saying um okay
00:38:16.079 well is there anything I mean this I I
00:38:19.119 have page I have a page of notes written
00:38:20.960 down and this has been so helpful is
00:38:22.800 there anything that I didn't ask you
00:38:25.839 that you feel like is really important
00:38:27.240 on the topic of women taking control of
00:38:30.560 their finances whether they're a
00:38:32.640 corporate climber or an entrepreneur
00:38:34.960 building an amazing business that should
00:38:37.079 be top of mind yeah I would just say um
00:38:41.400 to take some of the pressure off from
00:38:44.000 the Quant like from the number of when
00:38:46.400 it comes to finances like maybe having
00:38:48.520 sometimes we have we tend to have this
00:38:49.760 arbitrary financial goals oh I want to
00:38:51.680 hit a million dollars this year oh I
00:38:53.119 want to hit 300,000 in savings this year
00:38:56.359 and and kind of take some of the
00:38:57.560 pressure off of these specific goals if
00:39:00.839 they're arbitrary now if we backed into
00:39:02.640 them and created like s Point earlier
00:39:04.200 like our checklist and we know what we
00:39:05.400 need to have great but if they're
00:39:06.880 arbitrary take some of the pressure off
00:39:08.720 but just know that on the other side of
00:39:12.839 this like financial literacy journey is
00:39:15.200 freedom and that's really my biggest
00:39:17.400 thing and why I specifically want to do
00:39:19.520 this for women is because the freedom
00:39:22.359 that you have when you have Financial
00:39:23.680 Security is like no other right right
00:39:26.599 you have freedom of your time you have
00:39:28.359 freedom of your energy you have freedom
00:39:29.920 of your space and where you work dayto
00:39:31.520 day and so know that regardless of what
00:39:34.560 your end goal is like your specific end
00:39:36.480 goal of retiring at a certain age or
00:39:38.680 building paying for college for your
00:39:40.800 kids that also freedom is what comes
00:39:43.520 with this and so when you're working
00:39:45.359 through everything you don't I forgot
00:39:47.319 the exact quote but there was a quote of
00:39:49.119 like you can't get so I'm going to
00:39:52.000 totally butcher this I'm the queen of
00:39:53.640 butchering good but it's basically like
00:39:56.680 you can't get to something if your if
00:40:00.079 your path is the complete opposite of
00:40:01.640 that so you can't get to Freedom by like
00:40:03.640 forcing your way to Freedom you know you
00:40:05.599 have to like Feel Free as you're getting
00:40:08.319 to freedom and so think about it along
00:40:10.760 that along that way like your journey
00:40:12.920 needs to be freeing in order for you to
00:40:15.280 see freedom on the other side hope that
00:40:17.760 I love that yeah no that's really really
00:40:19.599 good advice thank you this has been so
00:40:21.839 amazing and helpful I think this is
00:40:23.280 going to be a really valuable episode
00:40:24.760 thank you so much for taking some of
00:40:26.079 your time to chat with me and share all
00:40:28.200 of these insights and experiences that
00:40:29.839 you have absolutely thank you it's my
00:40:31.960 friend appreciate
00:40:34.020 [Music]
00:40:49.880 it