Episode #90: How To Evaluate Your Finances for Business Growth with Danielle Hayden

Jun 29, 2022
Limitless Entrepreneur Podcast Episode 90 How To Evaluate Your Finances for Business Growth with Danielle Hayden

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This week's guest is the CEO of Kickstart Accounting, Inc. where she helps business owners with bookkeeping, financial analysis, and education. Danielle Hayden is here to help us understand the exact numbers we need to be looking at to evaluate the health of our business. She's teaching us what reports we should be looking at and how often, and sharing some of the common mistakes she sees her clients making with their business finances.


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Read the full transcript:

Nicole Laino  

Hello, hello, everyone, welcome to the limitless entrepreneur podcast. I'm your host, Nicole Laino. And I am here I'm talking about a very, very, like, Next Level topic. For a lot of people, I really want you to listen to this conversation, I want you to be looking at your business a little bit differently, we talk a lot about showing up as yourself, we talk a lot about authenticity, we talk a lot about messaging. But today, we're gonna talk about numbers. And we're going to talk about, you know, really making the right decisions for you for your business, for the goals that you have for yourself. And we're going to be doing this not from the creative side of, of not necessarily the creative side of your business of like you showing up as you I brought a very special guest in Danielle Hayden is here with me. She is a she was a corporate CFO. So she's bringing that the data side of things to this. And this is really a lot of people get into the into the game of earn more, earn more, earn more, we're very, we're very into tracking revenue, and just can put a different spin on this. And I'm very excited to have this conversation with her. So Danielle is a reformed corporate CFO, who is on a mission to help rule breaking female entrepreneurs understand their numbers so they can gain the confidence needed to create sustainable profits. Danielle, welcome to the show.

 

Danielle Hayden  

Thank you so much for having me. And I promise, ladies and gentlemen listening. I really understand that money is a big topic for for you as a business owner. It's not a topic that comes easily and I treat that with a lot of respect. And just know that I want to make this as easy as possible for you.

 

Nicole Laino  

Yeah, and there's, this can be sexy. No, it can actually be sexy. So I love it. I want to I you know, and it's that it tells a story. But it also it's this is where you get to make when we talk about like it gets to be easy when we talk about like really making decision decisions that don't lead to you just working more hours and churning out more product content programs, whatever. Or, you know, doing more one on ones or things like that, like really having a profit driven approach can help you see what moves are the right ones to make that lead to actually working less, making really smart decisions. So I'm excited to have you here. What did I miss in the intro? I only read like an like a line of your bio. So tell everybody a little bit more about you.

 

Danielle Hayden  

Yes, thank you. Um, so I am the owner and founder of kickstart accounting, Inc. Our mission as a firm is to help business owners understand their numbers. What I found when I left corporate on this mission to help business owners is that I couldn't actually help them understand anything, and I couldn't help them budget kind of help them write a business plan, because they didn't have bookkeeping in place. And they didn't have the foundations and the fundamental set. So it kickstart we actually helped create the foundation, we do all the day to day bookkeeping processes so that everything is accurate and on time, then we can go deeper and say, Alright, what do we do with these numbers? How do we use them in our business? How do we make sure that we understand them so that we can use them to make better business decisions so that we're not just running into overwhelm, but we are holding our boundaries, we are working, we're creating a work life balance. We're creating a life that we actually want to live as entrepreneurs. And I truly believe that we can't do that without the numbers piece of it. So I, you know, leaving corporate was one of the best things that ever happened to me not because I hated my job. And because I hate what I did, or going into an office or reporting to anybody. I actually love it. I did. And I love the team that I worked with. And I love the part of the management team and helping grow businesses. However, what I get to do today is help so many more business owners, so many business owners that we get to really create an impact by helping you understand your numbers and growing each business.

 

Nicole Laino  

What do you find the most with people who come to you who have never worked with a bookkeeper like they don't have? What do you find the most interesting about that first part of the process? Is there something that you see over and over and over again?

 

Danielle Hayden  

Yeah, so it's really interesting. When I left corporate, I always saw money and numbers as very black and white. So I had worked with private equity firms and investors and I guess people's money, right, because they were investing in these big companies. So I always thought of things as data driven decisions. So here's what we're doing. Here's why we're doing it and decisions are black and white cut and dry. And what they found since starting this business is that it's not cut and dry at all. There's a lot of emotion that goes into it. And a lot of times when people show up for their first call, the first thing people will say to me is, I'm a mess. I'm a mess. I'm not organized this topics overwhelming, I don't understand it, because they don't understand it, I avoid it. I don't want to do this. Some people say, I enjoy the numbers, or I enjoy pieces of this, but I don't have enough time because I'm wearing all the hats. I just had no idea how many people struggled with it. And so I really like to tell our clients and even anyone listening like it's okay, right? Like you went into business to do your craft that you do really well. And all of a sudden, you're expected to be head of marketing, Head of Sales CEO CFO, right, like, you can't wear all those hats. And so I find it interesting that we feel so guilty as business owners, like, why can't I? Why don't I know how to do QuickBooks, right? Like, why would you know how to do quite well, right? Like, why would you know how to do that.

 

Nicole Laino  

It's not your zone of genius, right? It doesn't have to be like, you can hire somebody. And I have certainly been guilty of that, too, where I remember going to my accountant and just being and saying those same words, I'm a mess. I'm so sorry. I was like apologizing. And she actually came back to me and she was like, Oh, you're so much better than most of my God. And so it's a lot of times it's your it's, it's not as bad as you think. But there's so much shame. And from an energetic standpoint, from a mindset standpoint of how you view yourself, as a business person, like we get what we identify as, if you have shame in the money department, it's going to impede your ability to earn and hold the money that you want to hold. And you're probably going to make decisions from a place of lack in alignment with you being a mess, rather than with you being a totally together smart savvy business person.

 

Danielle Hayden  

And, and it's because you don't know and you're avoiding. We had this client a few years ago, and one of my favorite success stories for her, she came to me and said, I need you to help me learn how to operate my business at a loss. Like I'm struggling, I don't understand I'm bringing in revenue, but I have no cash. I don't know where it's going. I'm definitely operating my business over losses. And okay, hold on. We did what we call a catch up and catch up means that we pull those those like October November timeframe. So we pulled all of our transactions from January 1 all the way through October 31. And we did the catch up. So that means we we create the chart of accounts, create the income statement, pull all the transactions in and look at a clearer picture of what she did year to date. And we found out that she was making a profit. So the problem was that she was an LLC, and she was taking a lot of owners draw, she was doing some personal commingling. And so she didn't have the cash in her in her checking account. However, she was profitable, and she was going to have to pay taxes. She wasn't prepared for them. And she was going into the next year with a scarcity mindset. She wasn't planning on investing any money. She was actually thinking about going back to work for somebody else. And because we worked with her to show her that she had a profit where she was making money where she was spending money. She doubled down in her business, right. So the next year, she went in with a place of abundance, spent a ton of money in marketing and networking and going to conferences and professional development and coaching. And she poured into her business important to herself because she was was operating from a place of abundance now. And now we're four years later, she has quadrupled her business over time. And she's just this really beautiful success story and that she was operating from a place of abundance, or from a place of scarcity because she didn't know it was avoidance and ignorance.

 

Nicole Laino  

I did that once I was like, I'm sure I'm at a loss. And when I ran, I didn't run them at tax time. Thankfully, like I did, I did go through it. But this was a few years ago where I was I was I was scared. And I was going through the numbers and I was like I thought I was at a loss. And I was like oh my god, I'm making money. You know what I changed how I how I viewed my business. It changed. I was like, oh my god, I'm profitable. Oh my God, I didn't know. And then then it made it less scary than it was like, that was a big turning point for me of saying like, it's my job to know my numbers. And to me, like I always come back to identity if you're identifying as a mess who's operating in loss. And you're going to make decisions from that place like you were saying, and you're going to, you're going to pull that into your experience. The mess, like up leveling is is the act of I would say like up leveling is the act of energetically and physically cleaning up your shit. So energetically aligning with what you want, and then doing the things in the physical world that are in a lie. meant with who you want to be. And one of those is if you want to be a six figure business owner or multiple multiple six figure business owner, are you really doing your own books? No.

 

Danielle Hayden  

Now, you can't be in the weeds and look at it like a CEO, CEO, or at a high level, if you're spending less, one of the things we hear from our clients all the time, spending all my time doing the books, so when they come to us, they say I need to spend the time looking at the numbers, not doing the books. So if you're, if you're, you're trying to be a six figure business, right, if that's the direction you're going, you need to get the help and place today. So that that's one hat off of your plate, first of all, like off your head. And that's one thing that you don't have to do anymore. So you can spend your time and doesn't have to be revenue generating just something to give fills your cup gives you energy

 

Nicole Laino  

in a visionary. Yes. You know, doing something else other than that, yeah. Which for most people, for me, especially, like that sucked the life out of me was like doing the accounting part. It was just like, I could feel like my whole body be dragged down. That's not a good use of my energy or my time.

 

Danielle Hayden  

Yeah, it's a black cloud. I call it the black cloud. It's like, yeah, it's a black cloud on the to do list that follows you around.

 

Nicole Laino  

Right? So So let's talk a little bit about, about the decisions that people can make from this place of abundance of knowledge. What is it first of all that they need to know? what do what do they need to? Well, obviously, let me start with this question. Does everybody need a bookkeeper?

 

Danielle Hayden  

I truly believe that every business owner should have a bookkeeper. I don't believe that you should be doing your own books there creates an accountability. We hear from a lot of our clients who will say, I was commingle commingling business and personal. But now that I know you're looking at it, I don't. Or, you know, I wasn't really confident about where I was categorizing things, or that that my income and expenses were categorized correctly. But now I don't have to worry about because no one expert has it. We've seen too many people overpay in taxes, or not take enough expenses as deductions on their tax return because they weren't confident in their bookkeeping, because you're not the expert. And so I truly believe that if you are consistently bringing revenue into your business, and you're consistently spending money in your business, you needed an accounting system, and you need a bookkeeper so that you have checks and balances, you know it's done accurately. And then you have accountability so that they can provide you with reports. And you can look at them.

 

Nicole Laino  

Yeah. And this also like, I like the accountability part. Because when you do go to spend money on something, you have somebody that's at least like if you've got a service like yours, or just somebody who's who's overseeing this with you not to ask their permission, but it makes you kind of check yourself and say like, do I really need this? Or am I making it from this place of lack? Am I making it? Am I then we talked about talking about this, that shiny object syndrome, it slows the pace of that at least.

 

Danielle Hayden  

So I call it the 14 hour rule. If you have a shiny object or a new investment that you want to purchase in your business. Now I'm not talking about like $100 light for your office, I'm talking about like a new program or you know, a larger investment by emailing your bookkeeper now, kickstart accounting, we have a 48 hour guarantee. So when somebody when one of our clients, emails, one of our bookkeepers or accountants, they are required to respond within 48 hours. And so clients emails all the time and say, Hey, I'm thinking about buying XYZ, looking at my income statement, for the last, you know, six to 12 months, can I afford that? Right? Does this decision make sense to me? Now we'll take 48 hours and get back to them. Now we've created time, space, we've removed the emotion and the like I do now. And we've given you 48 hours to pause. And then we've given you data to make that decision. Now, we've said to business owners all the time? No, I actually don't think that would be a good choice. Right now you're operating at a loss for this year. And at the end of the day, it's their money, right? It's it's your business. So you're not asking for permission. And then if your bookkeeper says no, you don't do it, but you've you said what are the numbers look like? And you can see the numbers, and then you can make an educated decision.

 

Nicole Laino  

Right? You're informed you're not making this from a place of pure emotion. And I like the idea of because this is a question I asked myself and I tell all my clients like this is you know, at least ask this question when you're you're making an investment, you know, of really any size that's not like the hundreds All right. But but when you're making an investment, during a program, buying a course, or hiring a coach, whatever, by having that 48 hour window of asking someone, you know, do I have the money for this? Is this a smart financial decision for me? That gives you the space to ask yourself the question and remind yourself, you can kind of set up that trigger of, okay, I emailed her. And then I asked myself, Why do I want this? Why? Why am I buying this? am I buying this? Because I think it will fix me in some way. am I buying this? And you can figure out then, am I is this something that, I feel is, is something that I need to move forward in a healthy way? Or am I feeling I need this because I feel like I'm lacking in some way. And I'm looking to be fixed. Because that doesn't typically work out very well. Same investment from a different place, can can definitely lead you someplace else. So I love this, like 48 hour break period. And, and not making decisions from that like that, that, you know, unhealthy need, or that unhealthy place. But it is your decision. At the end of the day, you can make a decision to be like, Nope, this is an investment I believe in. And I believe that this is taking me to the next level, I believe that these this is the this is the missing piece in my business. I know that I need help with it. I don't desire to do this myself. I'm going to make the choice. But I'm making an informed choice not with my eyes, not with my back turned to my bank account being like lala land Allah, I'm going to pretend that I am going to be blissfully ignorant about how much money I have or don't have right now.

 

Danielle Hayden  

Yeah. And here's just to build on this a little bit one step forward. So maybe a bookkeeper says, Hey, I don't think right now is a good time you're operating at a loss. You could respond like, like, you could have the conversation and say, Okay, well, where else is my money going? Right? Like, what else am I spending money on? And do I need all those other expenses? Like, why am I operating at a loss in the first place? Right? So, you know, first and foremost, where did the money go this year that are even operating at a loss. And then we have an expense grading worksheet where we list out all the expenses for our clients, like subscriptions are a big one. You know, whatever it might be your highest expenses. So when you look at your profit and loss statement, you'll look at the there's a report called percentage of income. So wherever your highest percentage of income is going, you can list out all those expenses. And give it a Grade A, B, and C. Does anything in the C category, do you really need to continue it? Right, like maybe you could disregard like, you could take away that expense, and reinvest those dollars into the new shiny object, the new investment strategy?

 

Nicole Laino  

No, I like that. Because it's looking at them and saying not just to get rid of that just to cut expenses. But but were that it's a method for trimming the fat, right? It's a method for saying like this is this is a leak of your finances right now. Why? Why are we keeping this open for things to keep funneling through? But where should Where should people be operating at a level of profitability? Like, what are the metrics they should be tracking? What are they what should they be focusing on? As far as financial goals are concerned?

 

Danielle Hayden  

Yeah. All right. So that's a loaded question. So we'll take it.

 

Nicole Laino  

We got a little time. So.

 

Danielle Hayden  

So where should business owners be in terms of profitability? That's not created equal? Because you could be working 8090 hours a week can in your business and be very profitable, because you're not paying any other staff members. And so you might be looking at your profit and loss statement, say, Okay, I'm operating at 50% profitability, like this is great. And maybe even more than that, but great, because you're, like, not sustainable. Sorry. So I want a business owner who has found enough of a balance between hiring the support that they need, and working in their business in the way that they want to, after that balance has been found. A very healthy business after you have been paid as a business owner is 15% profitability. So this is after you've been paid. And after you pay all of your support staff 10% is still healthy. Once we're 5% we're on life support, right? Like we need to figure out where we're spending money. 5% is your new zero, right? Like, I don't want you breaking even I don't want you taking a loss. So we need to be operating at 5% or higher profitability. And this is just just for layman's terms to help everybody. When I talk about your net profit, that means sales minus cost of goods sold minus all of your operating expenses. So it's a Everything that you need to pay to run your business, that is your profit. And if you take your profit divided by your sales that will give you your profit margin. And so when I'm talking about these percentages, that's how you get there. Does it make sense? Without? It does? And

 

Nicole Laino  

do you recommend people paying themselves first?

 

Danielle Hayden  

So I am not a big subscriber to like a Profit First, I think that those percentages hurt our mental game. I do I want every business owner listening to pay yourself. Absolutely. So when I tell you to look at this profit percentages, it is after you pay yourself. So if after you pay yourself, you're operating at a loss, that's not break even, you are not free money, right? Like, I know, if you're an LLC, it doesn't show up on the income statement, there's some manual calculations that you need to do talk to your bookkeeper, they can help you do it. But I want you after you pay yourself to be at that 50% margin.

 

Nicole Laino  

And when should someone start paying themselves

 

Danielle Hayden  

the day that they start taking revenue from client? 

 

Nicole Laino  

Why? 

 

Danielle Hayden  

I think it creates habits and structure in your business. So I don't care if it's $50 a week, you don't I mean, it can be $50 a month, I don't care what it is, it is it is creating the habit. It's creating the structure, it is rewarding yourself, there's a reward system, there's dopamine, you know, we can go in all the science of the dopamine and being rewarded as a business owner. We've seen too many clients who have waited to pay themselves who end up resenting their business. I'm putting in so much work and so much time, so much energy, and I'm not making anything and maybe it makes it feel like I just have a hobby, and maybe even their spouse, husband wife is looking at them like, Hey, you're not contributing here, right? So you have a hobby. And so I don't want you that to ever be the case, from day one. You to get that dopamine to get that reward. And to feel that sense of accomplishment.

 

Nicole Laino  

And yeah, I mean, I think there's also when you don't pay yourself, there's that little voice in your head. That is is is still saying you're broke. Even though even though you're not Yeah. And again, this is how you're going to be operating, you're gonna be operating from a place like I'm not good enough. You're going to be operating from a place of of feeling like your clients make more money than you or that you know that you're not that you're you're not you don't respect yourself and you don't respect your business enough to say like the CEO doesn't get paid at my at my company.

 

Danielle Hayden  

Yeah, it creates a sense of I'm not worthy. I'm not worthy of my businesses enough. I'm not enough. I'm not valuing my time and energy. So yeah, I want you to get paid right away.

 

Nicole Laino  

So how do they how do they start making these decisions? Where would somebody start if right now, so maybe they have a bookkeeper? That's not necessarily part of like the bigger picture. They're just kind of like running the books? They're not really like, it sounds like your team what you do you guys run more like a like a, like a financial voice in the company that's there to kind of at least be like your your financial conscience and let you know, like, this is where you are. Like, it just has an idea of your bigger picture. So what do you say to somebody who has like maybe just that like very transactional bookkeeper, that you're like, you're sending them your stuff, they do the numbers, and they send them back to you. And that's all they have? Where do you where, where do you suggest somebody go? 

 

Danielle Hayden  

Yeah, a few things. So if that's what you have today, but it's okay, right? Like, I sometimes get embarrassed for my industry. There's too many bookkeepers out there, like, not like I have my CPA and my masters. But not all bookkeepers do, right? Not all accounting firms do, you can go to I think it's called like bookkeeping academy or something like that. And you can be a very unqualified bookkeeper. So first and foremost, I want him to know that your books are accurate and that they're set up correctly. But if you feel confident in your bookkeepers ability, we've also heard from from the business owners that their bookkeepers don't actually send them reports. So if that's the case, I want you to get on the phone or shoot your bookkeeper an email, you need to know what system your books are in. So are you in QuickBooks? Are you in Xero? Are you in QuickBooks Desktop? We have business owners who have no idea what their books are even read captain, so you need to know what system and say I would like to get on a regular cadence of reporting with you. What does that look like and what is the fee? So for us, when we work with our clients, they can take weekly, monthly or quarterly and that's how often they get financial reports and Not every firm operates that way. And so they might be keeping your books because all that's important to them is Texas. And so they don't need to give us anything till the end of the year. And so the first thing I want you to do is to make sure that you're getting your reports on a regular basis. The next question is what reports right, because not every bookkeepers are gonna bookkeepers gonna send you the same reports, I want you to look at your balance sheet and the income statement. Now, those are your two basic ones. When we send our clients their financials, what they receive is their income statement. And like for different versions, they get an income statement by month for the last 12 months, income statement year to date versus prior year. Income statement for the month versus prior year, and an income statement as a percentage of sales. That's a lot of information. And that's why we summarize it. So every client gets a summary. So ask your bookkeeper, can they summarize it for you? Like, Hey, I know there's a lot of reports here. Can you also send me a summary so that I don't have to go line by line? So ask you we've had we've had clients who have asked us like, Hey, this is really important for me to know how much I'm taking an owner's drawers. I'm like, okay, cool. Well put it in the report. All they had to do is ask because not what's important to you? Is it important to your your neighbor, your binary coworker, right? So you need to voice What's important to you to your bookkeeper. And if they're willing to give you these reports, once they give that to you, then I would love for everybody to do it on a monthly basis. If it's quarterly, its quarterly. But take that time to really look at the reports, look at each of those profit and loss statements that I mentioned. And look and see what the numbers tell you. My Rs, my revenue up compared to last year are down and why like, for every line item, I want you to explain why. And that's why we really encourage all our clients to get on a call with us. Not because we're strategizing anything, like anything crazy. We're not strategists, we are bookkeepers. But what we give them the opportunity to do is say, Hey, cool, I see that your revenue is down from last year. What do you think about that? Why do you think that is?And then you would have to tell me? Yeah, right. 

 

Nicole Laino  

Well, and there's, there's also, there's something about, about stepping into that role of saying, like, I'm going to, it helps you make informed decisions. So something like something like having, looking at this report, looking at the year over year, and recognizing that, because I've had this happen, where you you're kind of you know, people are rolling off, you know, people are not going to renew or you you had something that you thought was going to close and it didn't so you make a story up in your mind. And, and that story is usually much worse than the actual story that's playing out in front of you. But if you only have it in your mind, you're only dealing with it emotionally and through the lens of potentially fear. You know, what does this mean doom and gloom, or artificially rosy sunglasses that are making you make, see things in a in a in a in a way, way to positive outlook, which you don't you just want to be making these uninformed decisions from this place of just like I think it's this or I feel like this, when you look at it, you could say something like, because this was an this was something that happened to me that was interesting. I had anticipated one month was going to be like my worst month I had people that weren't renewing I had this I had some other things happening, where sales were down. But I had raised my prices. And that was such an eye opening moment for me of because I actually ended up being a very high month revenue for me. I didn't sign as many people, but I signed them at a much higher rate. I signed some private clients, I did some other things. And I was like, it gave me a whole new outlook on my business where I was like, Oh, I actually, like I did this not not without breaking a sweat. But But this felt good. This felt this. This all felt like I was bringing in money in the right ways. I did things I really leveraged here, some high ticket offers. I built out a product suite, you told me a story about my business. That was a theory, I was doing things where I was like, Oh, I'm going to start offering this I'm going to start offering this. I did it there was a strategy in my head. But it wasn't until the numbers came in that I was able to really see how that story played out. And that helped me make better decisions going forward where I was like, all I have to do to keep revenue going up is maybe increasing this offer getting somebody in every month on this. If I get somebody on this tells me what sales I want to run it tells me what what where I want to put certain things. And it's helped me to make better decisions where I'm not working. I was I'm not working as hard. I definitely have more free time and I feel more free with the time that I have. It doesn't feel it doesn't feel as tense. It doesn't feel like I'm pushing. I don't feel like I'm hustling is really what it is. Yeah. It got to be easy. Why? Because I'm making decisions from a very different place.

 

Danielle Hayden  

Can I elaborate on that? I think, yes. A beautiful scenario, I just want to give another perspective to it, because it's just recently came up with a client. We had sent the year to date financials compared to last year. And I said, Yes, you are not profitable this year, right? Yes, you were, you know, it's still really early in the year. However, this particular client had spent a lot of time, money and energy in hiring employees and contractors to help her find freedom and her time. Again, same same concept of getting out of the hustle, hustle hustle mentality. She knew that she she couldn't continue to grow and service are clients and sign new clients unless she had other team members to help her with the operations. And she even hired a few people who are client facing. And so she had to hire them. So there was hiring costs. There was training class, because those people weren't revenue generating yet they weren't actually serving clients yet. So by looking at the numbers, she was able to say, this is what it's telling me not that I should stop doing it. But that I need to get my team producing revenue as soon as possible, right. But I have time, right, I have time back. And I see in the future, I'm gonna have even more time back when this team operating and I had them trained. And they can they can help me in a way that gives me my time and energy back. And so this can be on the revenue side. And this could be on the expense side, whether that be with team members, employees, contractors, or software that can help aid and the pieces of your your business that are causing you time and headaches.

 

Nicole Laino  

No, I love that. I love that because she asked the question why like, since she hired these people, she had a why she was like, because I want my time back. I don't love what I do is a potential. I'm just throwing that out there. I don't know this woman, but I'm gonna guess she was probably feeling maybe a little suffocated by her business, or burned out? And the answer is, and that's a that's a psychological thing we have to go through, which is that that fear of, well, I have the revenue to pay these people. So I'm gonna hire I'm going to, I'm going to get my time back. But will I be able to afford that. And knowing your numbers and understanding what it looks like, let you know how much time you have let you know how you need to speed up time like, Okay, if I get these people up and running, I should be able to get them revenue producing by x. And it just you're in the driver's seat.

 

Danielle Hayden  

Yeah. Now before she hired them, we had talked before she headed up. So she had called us a few months ago, we we mapped out we budgeted how much she needed in order to get prepared. So she knew she wanted to have three months worth of their hourly rate and enough to pay for all the subscriptions that she was going to have to add on to hire them. She was very prepared and very risk averse. We have other clients who we say alright, they're ready to hire. And they are more, you know, jumping into feet, the right time to save their that's their risk tolerance. So you have to use your numbers. Check in with yourself, what is my risk tolerance? Who am I? What do I feel comfortable with? So I feel comfortable with hiring people and then figuring it out as I go and knowing that the abundance will follow me? Or do I need to have this money saved and ready and I'm gonna come into this more planned and prepared. Neither one is wrong, right? I think our Money Story personality.

 

Nicole Laino  

Yes. Yeah. And our experiences. And it's like I always say, like, from from a money will say manifestation, but in many, many energetic standpoint, you know, we we want to feel certain. Now, we don't know the outcomes of everything. But we want to feel certain that we took a step that we feel very, very confident in. And that never really comes from being completely blind. Because there's always that possibility in your head of saying like, what if, what if I was wrong? What is the feeling was wrong? And then you're letting the feeling in the moment shift. You were suddenly now fear is showing up and telling you like, but what if, what if this doesn't work? If you have everything you're like, No, I, I made this decision from a very informed place. I took this step confidently. And that's all you can do. But there's such power in that. There's such power in that your energy is so much stronger in that space than the one where you're just like, I'm just gonna go for it. I'm not going to look at how much I spent this month. I'm not going to look at how much you spent this year. I'm not going to look at how much money is coming in. I'm just not going to look at it and I'm going to hope and pray that this all works out. That this is the magic One. And so I love that your team supports CEOs in this space. Because I don't think that that there's a lot of like I was saying transactional bookkeepers, transactional contractors that treat themselves like contractors, you really come in like, like a virtual member of the team, which I love.

 

Danielle Hayden  

Yeah, yeah, absolutely. That's fantastic. Well, thank

 

Nicole Laino  

you so much for being here. I love this conversation, I think that this is a needed thing. And certainly, if anyone is looking at scaling your business, if you're looking to getting out of like being that one person that solopreneur, the next step really is, if you're not there already, is owning the financial side and handing it off, though. Like you own it. From the visionary standpoint, you own it from that CEO standpoint. When you work at a corporation, the CEO is not doing the books, or someone comes in and gives them the highlight reel, they look at the numbers, they say, This is the story that I'm being this is the story I'm seeing, and this is the decision I'm making from here, okay, now go do that. Now go implement. That's, that's where we want you going. And having a team like yours is is definitely a step in the right direction for that. So thank you so much for coming on and sharing what you do and sharing your story and just and educating everybody on this. I appreciate you.

 

Danielle Hayden  

Yeah, I hope everybody can walk away with one action step. Don't forget to take a piece of action, right, like whether it be running one report or looking at one number. listening to the podcast is the first step, but then taking some type of action from this as the next step. So just a reminder, take one action from this episode, I promise you, it's like going for the first walk or going for your first run. Momentum breeds on momentum. And so if you take one action today, the next step is going to be a little bit easier.

 

Nicole Laino  

Absolutely. Just like I said earlier that that up leveling is the process of energetically and physically cleaning up your shit. This is energetically you're you're saying I'm ready for this. This is what I want for myself. And then the physical part is actually making the call taking the step taking some action in alignment with that. So calling Danielle like looking up your team or or someone that does something like this, where you're you're taking action to take control of your finances, which takes control of your business.

 

Danielle Hayden  

Yeah, find the right team, right. Yeah. I hate hearing. Hear from business owners all the time. Yeah, I should know my numbers. I really don't like my bookkeepers. Anybody right? It doesn't have to be me and my team. I just want you to find somebody that you can call and ask these questions do and have this conversation. Money can be fun. We said it earlier. Money can be sexy numbers can be sexy. I want everyone to enjoy owning a business because I think what what everyone is doing is really powerful.

 

Nicole Laino  

I love it. Well, where can everybody stay in touch with you?

 

Danielle Hayden  

Kickstart accounting inc.com. And over the Inc is the best place that's our website, you can listen to our podcast, entrepreneur money stories, you can find the link right there. You can book a call, come come chat with us. If you wanna talk about your specific situation, your your strategies. We are more in reach than you even think. So come and talk to us have that conversation. And if you wanted to connect with us on Instagram, I keep on laughing because if you thought accounting can't be funny, my marketing team has seen to make these beautiful reels that have been cracking up. So come check out funny accounting rails. Well, because already getting,

 

Nicole Laino  

well don't worry, we've got you covered. If you didn't write all that down, we've got you covered. This will all be linked up in the show notes. You can be magically transported over to all of those destinations. If you hop on over to wherever you're listening to this podcast, hop on down to the shownotes click the link and be taken exactly to where you want to go. Daniel, thank you for being here. I appreciate you. Thank you listener for being here till the end of the show the end of this conversation for being a part of it with us. We appreciate you. Remember, you are only limited by the limitations that you accept. And when you stop accepting those limitations. That is when you become limitless. So go out there and be limitless everyone. I'll see you in the next one.

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