This blog was originally sent as an email to my subscribers on July 19, 2021. This is an archive, so it’s possible some links are missing or expired. If you want me to deliver these emails directly to your inbox, click here to join my email list.
Subject: $27,000 (+ podcasts about 💰)
There are 3 things I attribute to my exponential business growth over the last five years…
#1 – Learning to understand my business finances (+ paying someone to organize them for me)
#2 – Joining high-level coaching programs and working with private business coaches
#3 – Hiring top-tier folks to help me run my businesses
Notice the common denominator? Each of these strategies involve spending money.
Do you feel nauseous when you think about spending money?
I’m the kind of person who goes out for lunch and stresses about whether to order the $17 seared ahi tuna sandwich or the $12 caesar salad.
The caesar is obviously the more economical choice, but the tuna sounds delicious. Cue my first world guilt, followed by a wave of existential dread, topped off with a hangry explosion at Jonathan for not helping me make this difficult midday decision… all over a $5 price difference.
When it comes to my business, I’ve learned the quickest and easiest way to make more money (and reduce overwhelm) is by paying for the best support.
Ugh, I’m sorry to repeat this trope, but it’s true: It takes money to make money.
Allow me to put said money where my mouth is…
In 2020, I spent $27,000 on business coaching and hired an amazing executive assistant.
Honestly, I stressed more about buying that $17 sandwich than I did about shelling out thousands of dollars for coaching and support!
I knew it was time to invest in myself as a business owner so I could level-up without reinventing any wheels. And because I understood my finances, I knew my business was ready to support the investments.
Feeling confident about your numbers (and giving yourself permission to invest in support) is the key to your success as a business owner.
Earlier this summer, I had the pleasure of chatting with Julie Herres from Green Oak Accounting on her podcast Therapy for Your Money about money, business ownership, and burnout.
Here’s a sneak peak at some of the gems we cover in our convo:
- The 2 types of numbers you need to know in order to build a burnout-proof business
- How to protect yourself from financial burnout as an entrepreneur who doesn’t love math
- Why you need a financial team (+ who to hire if you’re starting from scratch)
Click here to listen to my interview with Julie if you’re feeling overwhelmed by your business finances.
Since we’re on the money train today, let’s throw back to my October 2020 interview with Tiffany McClain on The Money Sessions podcast!
We chatted about my journey from newbie therapist who openly criticized providers charging premium fees (ugh still ashamed about this) to business owner with a premium fee, cash pay group practice.
Click here to listen to my interview with Tiffany if you need some premium fee inspiration!
If I can learn to sit with my numbers without wanting to throw up, so can you! And if I was able to build a business that made it possible for me to invest $27k in support last year, you can get there too. Promise.
Hope these podcasts bring you a bit of money inspiration this week!
Talk soon,
Maegan
