Ever felt that the flow of the 24-hours-in-a-day or 40-hours-in-a-work week doesn’t actually, well…

It actually doesn’t “flow” at all.  

That’s because those timeframes weren’t built with our innate energetic cycles in mind, especially for women.  

These frameworks were built around a man’s natural timeclock and rhythm and were then translated into a weekly work schedule during the industrial revolution, which has now become a societal norm even though it doesn’t truly work as an ideal time management structure for the majority of society or the population. 

For women, understanding our cycle is not only a foundational element of understanding our innate feminine energy, but when viewing our cycles through the lens of business and work, it becomes a powerful code for unlocking your best life/work balance, structure, and schedule. 

Sounds kind of dreamy, right?

That’s because it is!

In this episode of Spa Marketing Made Easy, I’m chatting with Renae Fieck, mom of three, occupational therapist, and the founder of Cycle Advantage and host of the Cycle Advantage Podcast about optimizing your business and life according to your cycle so you can gain leverage as a CEO, balance the demands of life, make a bigger impact, and get bigger results without adding more stress or needing more time. 

( And if you’re reading, but thinking, “well, I don’t have a menstrual cycle…,” have no fear, I know this is still going to be an insightful and inspiring episode for you, too and we address how taking advantage of your cycle can work as a non-menstruating person. )

I can safely say that nearly every Spa CEO that comes through my programs would self-identify as a high-achiever, but the way to achieve more isn’t through grit, hustle, and blood/sweat/tears, it’s through understanding the seasons and cycles of when those things are beneficial, how we can use them to our advantage, and when we can lean into a different, but natural way of aligning our energy to achieve. 

In this episode, we discuss: 

•  How embracing our cycle and what’s actually happening with our cycle changes the way we show up in life, within business, and as a leader
• Some of our personal experiences in finding and tuning into our feminine energy and how big of a role our cycle plays in all facets of our lives as feminine beings
• The ways we can create microshifts in the ebbs and flows of our workflow so we can better align with our natural energetic cycle
• The four key phases of your cycle and how they manifest in the ways we might feel and show up
• Insights into how we can tune into our natural cycle even if you’re not menstruating and how to help your body to adjust and align to a natural rhythm 

References Mentioned in Episode #307: Taking Advantage of Your Cycle for Aligned Achievement with Renae Fieck 

•  Learn more about Renae’s work via her website at https://renaefieck.com 
• Connect with Renae on Instagram and Facebook 
• Get Renae’s free resource on Cycle Syncing Your Business here
• Learn more about Renae’s Cycle Advantage 101 Challenge
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Episode Transcript

Starting your spa’s SEO marketing journey can feel like an adventure with countless starting points, obstacles, and off-shoots – all of which look promising. 

Sure, choosing your own adventure can be fun, but oftentimes it’s overwhelming with too many options. 

And if you’re thinking, “what the heck is SEO?” don’t fret, my guest and I on this episode of Spa Marketing Made Easy are going to spell it all out and discuss which areas are most important for you to focus on as a spa owner. 

Joining me for this episode of Spa Marketing Made Easy is my guest Ryan Files, the Vice President of Sales with High Level Marketing, a full-service digital marketing company that has some really unique processes and tools particularly around SEO. 

With over ten years of experience and holding six separate Google certifications, including Analytics, Display Advertising, and SEO, Ryan is especially focused on the healthcare and aesthetics industries providing business development and digital marketing solutions for his clients, which includes individual practices from spas to dermatologists and plastic surgeons, as well as aesthetic manufacturers such as Rohrer Aesthetics, BTL, The Salt Facial, and PDO Max. 

While SEO is like many other marketing channels in that the strategies shift along with the evolution of the internet, or in this case specifically, search engines, SEO is truly a time-tested area of marketing where many of the foundational principles have remained the same since the dawn of digital marketing. 

Like Ryan says in this interview, “SEO works like a snowball down a hill —it builds upon itself, the larger it gets, the faster it goes, and the more impactful the results will be.”

When it comes to investing your time and energy into specific marketing strategies, SEO isn’t one you want to sleep on because the sooner you get started, and the more you remain consistent, the more sustainable (and passive) your results will become. 

In this episode, you’ll learn:

•  What SEO is and why as spa owners you should care a lot about this specific spoke of the digital marketing flywheel
• The three key types of SEO that Ryan groups within this area of marketing into to provide focus to your efforts whether you’re just beginning your SEO journey or looking to beef it up
• How long you can expect to see results after putting in dedicated effort to your spa’s SEO strategy 
• How SEO works as you put in effort over time and how using paid Google ads can impact your timeline, plus Ryan’s suggestions on how to allocate your time and monetary resources to dedicate to SEO based on where you are in business 
• How Google Maps and Reviews play into your rankings as a local brick and mortar business, and some insightful stats to help mitigate unsavory or phony reviews 

References Mentioned in Episode #301: The 3 Key Types of SEO Spas Need to Build with Ryan Files of High Level Marketing

•  Learn more about the services High Level Marketing provides by visiting their website and click here to book a call with Ryan: https://meetings.hubspot.com/rfiles 
• Click here to get your spa’s complimentary 30-minute SEO audit from Ryan – In the “company name” input field on the form, insert “Addo” next to your company name so he knows you’re a listener! 
• Connect with Ryan on LinkedIn
• Follow High Level Marketing on Facebook
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Episode Transcript

When it comes to revving up your retail revenue, one of the most common avenues spa owners explore is private label. But often private labels can leave much to be desired in terms of what you, and your customers, actually want out of a product, especially one with your brand name on it.  

Enter: custom formulations. 

If you’ve ever considered creating your own product line from the ground up, you’re going to love this episode of Spa Marketing Made Easy! 

Joining me on the mic is Lorraine Dallmeier; Lorraine is the award-winning CEO of Formula Botanica, an online organic cosmetic formulation and business school which has trained over 14,000 organic formulators and indie beauty entrepreneurs in 175+ countries. A Biologist and Chartered Environmentalist by training, Lorraine is on a mission to teach the world to make formulation as commonplace as cooking. 

Awarded Digital Achiever of the Year by Google and Cosmetic Executive Women (CEW) in 2018 and voted most influential person in the global natural beauty sector for 2020, Lorraine is a force to be reckoned with in the world of formulation, something she started as a side hustle while on maternity leave that has led to a $6 million global eLearning empire with a team of 40. 

Whether you’re just inkling with the idea of creating your own custom formulations, or you need an inspiring story of growing your empire, you’re going to love our discussion in this episode!

References Mentioned in Episode #291: Formulating Your Own Products with Lorraine Dallmeier, CEO of Formula Botanica

• Learn more about Formula Botanica by visiting their website and enroll in their free course, “Learn How to Become an Organic Skincare Formulator” by clicking here
• Connect with Formula Botanica on Instagram and Facebook
• Connect with Lorraine Dallmeier on Instagram and Facebook 
• Check out the brands Lorraine mentioned in this interview, NOPALERA and Naughty Alchemist  
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Episode Transcript

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If you have the dream of growing your spa or aesthetic business beyond its first six figures, building a team is a non-negotiable. 

And a non-negotiable element to a top-performing team is one that communicates clearly, kindly, and efficiently. 

Furthermore, you need to build a business that doesn’t rely on you, the Spa CEO, as the foundation…

But what’s the best way to ensure that the team you are building is going to help you build for the long-haul? 

In this episode of Spa Marketing Made Easy, I’m talking about why understanding your MBTI personality type and those of your staff and team make all the difference in your hiring process and thus, creating a company with a strong infrastructure for growth. 

In this episode, you’ll learn: 

• What the MBTI Personality entails and what each letter determines about someone’s personality 
• Why MBTI is my go-to personality assessment tool for hiring new team members and understanding my team member’s communication style
• How to assess your team’s individual personality assessments to fit your business’ team needs
• How you can utilize MBTI has a filtering tool during the hiring process 

References Mentioned in Episode #287: Understanding MBTI to Build Your Top Performing Team

• Take the MBTI Personality test on 16Personalities 
• Check out other personality assessments including StrengthsFinder, Kolbe Type Indicator and Enneagram 
• Learn more about Dr. John Gottman and Carl Jung’s work  

• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Episode Transcript

We always think it’ll never happen to us, but the reality is, it could happen to anyone and I’ve seen it for myself. 

I’m talking about your spa business getting hacked. 

It’s one of those things we just don’t want to imagine or simply believe that it only happens to “big, household name” companies, but the truth is, data breaches and security hacks can happen to any business of any size. 

And no matter what the size of your business, the results can be devastating. 

That’s why in this week’s episode of Spa Marketing Made Easy, I’m sitting down with my husband, Kyle, an MIT engineer and my resident tech wizard, to talk about all things cyber-security and good computer hygiene so that you can keep your business safe and secure in our digital world. 

Now I know this isn’t a “sexy” business topic like revenue growth, profit potential, social media, or marketing, but without securing the house you’re building, you’re putting your business at a huge risk of losing the gains you’re working so hard to make. 

The truth is, topics like this are topics that Spa CEOs need to concern themselves with, and the good news is that if you simply become aware of these things and take the proper steps to either set yourself up for cyber-safety from the get-go, or carve out some time to create your cyber-secure systems, you can move forward knowing you’re operating with a safe and secure foundation.

In this episode, we discuss: 

•  My personal experience working with a spa that got hacked and how it impacted their business
• The steps you need to take online to ensure your passwords are truly strong and secure 
• Considerations around backing up your business’ data and crafting credentials that further secure your business’ information
• Our go-to password protection tool that we use to help onboard and offboard team members while ensuring our security information stays safe 

References Mentioned in Episode #285: Keeping Your Business and Tech Secure with Daniela and Kyle

•  Sign up for LastPass, which is what Team Addo uses to manage passwords and keep them secure  
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 
 

Episode Transcript

It’s a business topic that often makes spa owners want to run for the hills or bury their heads in the sand, but I promise if you stick with me for this episode, I’ll make it worth your while, and a lot less scary…

That’s right, I’m talking about metrics aka KPIs aka your numbers. 

You may think it’s the most unsexy thing to think about in business, but it’s so critical to understanding where you’re currently at in the health of your spa business, and tracking your progress to grow to the level you ultimately desire. 

Stick with me through this short episode where I’m covering the most critical KPIs you need to be tracking inside your spa, and you’ll see that knowing your numbers is actually quite desirable, and not nearly as intimidating as you think. 

You in?

Let’s go! 

In this episode, you’ll learn:

• What KPIs are and what they help you achieve in your business
• The 4 KPIs that are crucial for every spa owner to be tracking
• How the benchmarks for these numbers can differ depending on your spa’s business model and what to look for to see if you’re leaving money and earning potential on the table 
• A simple breakdown of the “Revenue Per Hour Per Room” metric on a spa earning a million dollars in revenue to showcase how this is a 100 percent possible goal 

References Mentioned in Episode #284: The Spa KPIs and Metrics You Need to Know to Grow

• Listen to Episode 225: Becoming a Profitable Shareholder of Your Business with Mike Michalowicz, the author of Profit First 
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

 Episode Transcript

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You know how the saying goes, “never say never.” 

Well, that may apply 99% of the time, but this is the 1% time where you want to throw that adage out the window because whether you’re working to hit that first 6-figure year in your spa, or you’re climbing the mountain to a million, there is never a better time to get your financial plans in order than right now.

Even if you’re listening to this episode a week, 2 months, or 2 years after its original release, everything that’s shared is still timely, timeless, and applicable.

And as my guest shares, even if you think you’re too late in the game when it comes to financial planning, there’s never an age too old to start (there’s that ‘never’ word again). 

Here to discuss the timeless topic of financial planning with me in this episode of Spa Marketing Made Easy is Brent Weiss, the co-founder and Chief Evangelist of Facet Wealth.

{ If you’re wondering what in the world a “Chief Evangelist” is, I had the same question! }

In a nutshell, Brent’s role is to be the “keeper, speaker, and champion” of the Facet Wealth cause, which is to give everyone clarity and confidence by building a financial plan based on personalized advice for all the financial decisions that impact your life. 

Now, all you loyal listeners know I’m a nerd for money conversations, but Brent truly makes the topic of financial planning a feel-good experience, and as a Facet Wealth client myself, I can truly attest to the fantastic experience and advising they provide.

I know this isn’t the “fun” stuff in business, but I can promise that having a financial plan feels a whole lot better than flying by the seat of your pants. 

So pull up an earbud, I can’t wait for you to tune in.  

In this episode, we discuss: 

•  Why having a financial plan and financial advisor is so important, especially as a business owner, and why it’s critical that you align your financial plan with your life and business goals
• How traditional financial planning services work, and how Facet Wealth is working to do things differently
• Brent’s top insights on what to look for when finding the right-fit financial advisor for you and what key indicators to look out for when interviewing your potential advisor
• Why it’s never too late to craft a financial plan and why you need a “To Be” list versus a “To Do” list when it comes to your financial planning vision

References Mentioned in Episode #277: Feel-Good Financial Planning with Brent Weiss of Facet Wealth

•  Learn more about Facet Wealth on their website 
• Connect with Facet Wealth on Instagram, TikTok and LinkedIn
• Connect with Brent via his email at brent(at)facetwealth.com or on Instagram at @thebrentweiss
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Join the Aesthetic Marketing Seminar, the premiere spa marketing event of the year, on May 16 + 17, 2022 to learn the most relevant strategies and systems that today’s spa owners need to shift from biz chaos to Spa CEO. 

[ Learn More + Get Your Ticket to the AMS  ] 

Episode Transcript

We all know that revenue is critical to running a successful, profitable, and sustainable business, but what’s often overlooked is that some revenue has a higher value to your business’ bottom line than others. 

Yes, a dollar is still a dollar and that won’t change, but what *can* shift is the flow of cash in your business based on the various revenue streams you’ve built.

And when it comes to the bottom line (and how your revenue makes its way there), the key to success for your spa lies in diversification. 

That’s why in this episode of Spa Marketing Made Easy, I’m covering the three key types of revenue you’ll want to have working within your spa and how they work with and flow together to give your business the strongest financial ground to stand (and grow) on.

In this episode, you’ll learn: 

• Why having diversified revenue is important for your business’ financial cash flow 
• The ultimate goal of having multiple revenue streams and what it can help you achieve in your business growth journey 
• A breakdown of the three types of revenue streams every spa needs
• How to weave together and leverage all three to give your business the best financial ground to stand on

References Mentioned in Episode #272: 3 Types of Revenue Every Spa Needs 

•  Learn more about Growth Factor Framework
• Learn more and enter for a $10,000 Grants for Female Entrepreneurs in the Beauty Industry
• To watch more trainings like this and to keep the conversation going, as well as connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community.

Episode Transcript

Whether you’re making good amounts of it or you’re not taking home as much as you’d like, there’s one thing that almost every entrepreneur can identify with, and it’s that there’s always something you could be doing to improve your money situation. 

From stabilizing your cash flow to getting more organized, my guest on this episode of Spa Marketing Made Easy, Nicole Cooley, is wholeheartedly focused on helping others not feel overwhelmed with handling and owning their current finances as well as their financial future. 

With a holistic approach to money that combines your numbers, values, beliefs, and dreams, Nicole helps her clients build systems that bring you confidence so you can feel empowered with your money and move on to achieving your biggest goals.

After personally receiving coaching and systems support from Nicole and being able to double my take-home pay, I knew I needed to have her on the podcast to share how her specific approach to money systems is set up to help you feel good about your money not only in the day-to-day, but also in setting you up for success to make the right choices (for you and your specific) business so that the picture of your financial future is clear and bright as well. 

Tune in as we discuss: 

•  How having a money and budgeting system in your business allows you to make better business decisions
• Nicole’s definition of cash flow and why this is often overlooked in many common, well known financial systems 
• The three key areas of a sound financial system that will allow you to see the full picture of financial health for your business 
• Why it’s critical to not just know where your money has gone, but also where you’re planning for it to go in the future 

Resources Mentioned in Episode #269: Making Your Money Work for You with Nicole Cooley 

• Connect with Nicole via her website, https://nicole-cooley.com/ 
• Connect with Nicole via her Instagram, @theholisticdollar
• Learn more about the tool Nicole uses with her clients, You Need a Budget (YNAB)
• Tune into Episode #225: Becoming a Profitable Shareholder of Your Business with Mike Michalowicz
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Episode Transcript

Finances are the ultimate two-sided coin of business — on one side, it’s the lifeblood that can lead to quite a bit of entrepreneurial pressure. 

And on the other side, having a financially successful business is one of the keys to relieving all the pressure and unlocking true freedom, both in time and ability to do what we want not just with our business trajectory, but our lives. 

And it’s this aspect of business finances that my guest, Kristi Thiel, and I are discussing in this episode of Spa Marketing Made Easy. 

With more than 15 years and a unique blend of accounting and financial advisory experience under her belt, Kristi’s role as an Outsourced CFO is to help companies implement a strategy that ensures growth and profitability on track to achieving the long-term financial success they envision in both business and life. 

Tune in as we talk about Kristi’s approach to finances and how a CFO can function as a collaborative partner in your business to ensure that all your financial bases are covered. 

In this episode, we discuss: 

•  How a CFO differs from a bookkeeper and CPA, and what they uniquely can do for a business in regards to finances 
• What CFOs do and how they work to help you achieve your goals 
• How to know when it’s the right time to consider bringing on a CFO and what pieces you need to have in place to onboard one effectively 
• Kristi’s unique approach and on boarding process that helps her client get a grasp of how their financials look today where they’ll move in the future to support both personal and professional goals

References Mentioned in Episode #235: How a CFO Helps You Meet Your Big Vision Goals with Kristi Thiel

• Learn more about Kristi and her work as an Outsourced CFO via her website ktcpallc.com
• Connect with Kristi on Instagram, Facebook and LinkedIn 
• To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

As a thank you for being a loyal listener to the Spa Marketing Made Easy podcast and for helping us to reach more aestheticians working on growing their businesses and creating a life they love, we have created a free resource portal just for you! 

It’s totally free to join, and for every 25 reviews we get on iTunes, we’ll add a new training video, PDF, tracker, or other high-value resource to help you grow your aesthetic business!

If you have yet to leave a review, click here to leave one on iTunes, and click here to access the free resources already unlocked! 

Episode Transcript

00:00

You’re listening to the Spa Marketing Made Easy Podcast where we share simple, proven strategies just for spa industry professionals to help you get more clients in the door so that you can create a life you love. I’m your host, Daniela Woerner licensed aesthetician and spa marketing strategist.

00:22

Hello My dears, Daniela here and welcome to another episode of the Spa Marketing Made Easy Podcast. Now when I ask our students to create an org chart for the vision of their company in the next year, I’m always surprised at how many leave off the finance department. Now, I know that you may not have a finance team on site at your spa. But they are an incredibly important piece of your business structure, a division of your company that can really make or break you. That’s why I was really excited to talk to Kristi Thiel about the role of your financial team. What should they be doing? What should you be talking to them about?

01:03

So we got into the difference between a bookkeeper a CPA and a CFO. So a CPA is a certified public accountant. A CFO is a chief financial officer. So really interesting to look at what each of these roles do and how they can help and support your business. Now, remember that in creating your business, you need to begin with the end in mind. What is it that you’re wanting to create for yourself? So if you’re wanting to create a multi six, seven, or even an eight figure company, you’ve got to start acting like a multi six, seven or eight figure business owner today. And how do they act? Well, I can tell you for sure that they have a financial team that they are consulting with that they’re being guided by, that’s helping them make the right decisions as they grow into the next level. 

01:59

Now, I’m going to go ahead and do a quick read of Kristi’s bio and then we can jump right in to the good stuff. With more than 15 years and a unique blend of accounting and financial advisory experience. Kristi’s role as an outsourced CFO is to create and help companies implement a strategy that ensures growth and profitability on track to achieving the long term financial success they envision. She becomes a collaborative partner in your business to ensure that your financial bases are covered. So go ahead and listen and take some notes and start to think about what your financial team looks like in your company. Alright, let’s go ahead and play that interview. 

02:42

All right, Kristi, welcome to the Spa Marketing Made Easy Podcast, I am so excited to have you on to have this conversation we met online. I always think that that’s funny, we met on LinkedIn reached out you sent a really, really nice post a lot of times like on LinkedIn, they have those spammy messages and yours was really something about it just caught my attention. And and we had a great conversation about what is a topic that I think is so important in spa, and that’s for those spa owners that are at that like 200 – 300k and revenue. And they’re wanting to get to a million. There’s this missing piece that nobody really talks about. And that is the relationship that you have with your CPA, your CFO, your your finance team in general. And that’s what you do. That’s what you are, that is your world. And so I felt like bringing you on to really shine some light on that topic was going to be just so so valuable. 

03:53

Thank you. Thanks for having me. 

03:55

Yeah. So you know, we did your bio in the intro, but can you just give like the in a nutshell version of how you got to where what you’re doing today?

04:07

Yeah, so I have over 15 years of experience, not just an accounting, but also, I’m a former financial statement, auditor, I’ve done tax, I’ve done consulting, and I’ve also been on the private side. And I took what I really liked about all of those things, and decided that I wanted to serve companies in a greater way. And in order to do that I needed to provide services in a different way. We frequently see companies that interact with their CPA once a year or on a quarterly basis when they feel that they need something but CPAs have the power by having the exposure to all of those numbers and that information and exposure to a greater number of companies to see what works well. And so in this role, I have The ability to jump in and help was so much more than just producing financial statements or filing tax returns. So really, the purpose of it is to help provide some clarity, and align financial goals with the strategic plan and the vision of the company, and really help find a path forward so that business owners can get where they want to go.

05:25

So for listeners who are not clear on what these different roles in the financial piece are, can you explain the difference between a bookkeeper, a CPA and a CFO?

05:41

Okay, so a bookkeeper is making sure that the books and records are in order, everything that has happened in the past is recorded, it’s reported, and you have that information to use a CPA can help with anything from audits to tax preparation. CPAs also do consulting. But a CFO really is responsible for the financial management and the strategy of the company. So they are more involved in the company and the operations, financing and investing decisions going forward.

06:19

Yeah, and this is something that that we learned, you know, as we were growing as a company, it’s like, so often as the business owner, like the first goal is just getting to 100,000. Right? It’s like everyone wants to get there. And then you get into those multi six figures. And you’re like, Okay, yes. And then the next hurdle is a million. But there’s so many, like, Are you an LLC? Are you filing as an S corp? Right, like structure changes that can that’s a question you would talk with a CFO or CPA about, right? 

06:53

Yes. 

06:54

How? What is your strategy bringing on employees? What is your strategy and investing? What is your strategy, like? All of these types of things that are kind of like, you know, you’re no longer running a hobby business like this is really being developed into a company that you are creating, rather than just creating a job for yourself? And how do you structure that? And I feel like so often in the world of business, we talk about the marketing and the social and all the like, sexy parts of it, right? But the, the part that’s really going to save you thousands of dollars or push you over that hurdle is understanding and having a clear strategy for taxes for paying yourself or under for understanding long term growth of the company, because no one wants to get hit with a huge tax bill without being prepared for it, right? 

07:53

Yes, definitely. So in a spa, you have a multitude of things that you’re doing as a business owner or managing operations. And there’s so there’s a combination of so many different things that can bring you to the right place. But getting all of those pieces in order. There are so many details involved in that. And so what a CFO can do is really take a step back from those tiny details, and get it to the high level and help guide you in that direction.

08:27

I know for us over the pandemic, and our like whole finance team. They were the ones that were like, okay, here’s what the ideal is, here’s what the PPP is, here’s what you know, they were giving us all the information and digesting, like, okay, the Cares Act came out. And this is what this means, right? Like, if you don’t have a CPA or a CFO that’s helping guide you through those pieces. That can be so challenging, because you’re just trying to like, how am I going to keep my business afloat with all of this that’s going on, right? So it allows you to, okay, I don’t have to figure that piece out. My finance team can tell me how you qualify for this, or here’s your options. Here’s what we suggest or don’t suggest, here’s the pros and cons, right? Like looking at all of those pieces, which I think especially in the past year and a half, right, it’s just been so incredibly important, important to understand what all of that is.

09:35

Yes, and CPAs, and especially CFOs. They have exposure and they have the resources at their fingertips, to know what’s going on and what’s available to be used and how to get there. There’s so much in the laws, regulations and the rules for obtaining different sources for funding and so to look into that you really need someone who understands the lingo and Instead of trying to read the whole thing yourself and get to that point.

10:05

So, at what point in business, does it make financial sense to bring someone on that is a CFO?

10:15

So I think you’ve reached the point where you know, what you want your company to look like, and you’ve started operating. And you’ve already got your accounting is in order, and you’re able to analyze your financial performance. But you really need that strategic step forward, on the financial side.

10:37

So you know, what you want your business to look like, like, you have your 5, 10, 20, you have your exit strategy, right? You know, like, when the business is fully realized? What is it going to look like? Am I going to sell? Am I going to create a, a company where I just truly become an owner and not an operator. You know, all of these pieces we need to think about? And so often I see spa owners, especially if they’re solo, there is no, they’re just going day to day, right? They’re not thinking about what is the long term growth of the company. But yeah, to hire a CFO, and give them the direction of the goals that you want them to achieve? You’ve got to know like, what you’re going for? When do you want to retire? When do you want to? You know, are you going to hire a team? Are you going to sell, right? Because I imagine your financial statements should be done with all of that in mind.

11:40

Yes, definitely. And it also depends on do you have a plan for succession? Do you have a plan to sell. But also, I think a lot of owners, they have that dream and vision in mind before they start. And then they get into operations. And some of that gets forgotten because they get in the routine. And it’s tough to break that mold or start hiring staff when you’re not quite sure how to go about doing it. So there’s definitely some guidance that’s needed there. But it’s really that next step, once you’ve reached multiple, six figures, and you’re wanting to scale and grow, and you have different services in mind that you’ve considered offering that you think would complement everything else you do. So well. And so you need that guidance financially on how to get there.

12:36

Does the CFO, you know, one of the questions that has been asked regularly with our Growth Factor clients now who are doing kind of what is my exit strategy? What does that look like? And, and so much of it, especially as a small business owner, you know, a lot of these businesses are single member LLCs, or, you know, LLC filing as an S Corp. And your personal finances are very much involved in that. So does the CFO of your company, you know, if you hire a CFO, are they looking at your entire financial health and well being including? You know, like the finances of your spouse, when you are wanting to retire? If you have children? If you’re saving for college? Is that a CFO? Or is that financial advisor? Like how do you piece all of those things together to set the goals for your company based on what you’re wanting to create for yourself?

13:41

Right, so a CFO in a traditional sense, working directly for a company, they’re focused on that company, some outsource CFOs, myself, in particular, we have a big discussion upfront about personal goals, and where they are and where they want to be personally, because it all flows into the business. And what you decide to do financially affects your personal side as well. And so there’s an element of Yes, it’s easy to make a decision based on immediate bottom line impact. But you also have to consider what that means for your life and does it fit with everything that you want. So I definitely include that as part of the process.

14:28

So walk me through what your onboarding process is like when you bring on a small business.

14:36

Yes, so I like to have an initial consultation. I like to make sure that we’re a good fit. You need someone that you can work with and trust to help you in that strategic direction. And you need to be fully aligned on where things are going to go and how you’re going to commit to the process to make things happen and reach those goals. Maybe adjust as needed as time goes by the last year and a half has taught us how to adapt to change quickly. So, you know, it’s, for me, it’s about finding a good fit to, and you want someone who’s going to meet all of the needs that you have in mind for this type of service. And so what I do is first consultation, make sure we’re a good fit. And I also make sure that, you know, the spa owner is fully committed to the process, open to making changes to make things happen, open to potential investments in technology. And just being part of that process, and committing to meeting every month, so that we can work through things and know where things are going and where we stand and what we’ve done well, and what needs to improve. And then we read me on a regular basis. But there’s also ongoing support in between, they can pick up the phone or send me an email. So we can talk through things. Some clients prefer like a Google Sheet with objectives and tasks so that we can update each other regularly, without having to interrupt the day to day. So what I love about what I do is that is truly different for every client, I like to really customize based on the needs of my client. So usually, in that initial consultation, I can identify three to four key areas that we can really work on that would help reach those financial goals. So that’s kind of what drives how we set up what we’re doing.

16:46

That’s great. And this is, as I’m listening to you talk, I’m just thinking like, this is the definition of working on your business, you know, when everyone talks about like working on your business, rather than in it, this is like one of the key pieces, you’ve got marketing, PR fulfillment, and finance as really like the core areas of any company. And finance is something that, you know, it’s not uncommon for me to be talking with an aesthetician and then to have no idea what they’re even what their revenue is in October. And it’s like they’re pulling their stuff together for taxes. And it’s just one of those things that, you know, numbers can be scary for a lot of people. But it is it gives you so much power and so much peace of mind to really understand and own that part of your business. And shift the shift the the story or block or whatever it is around money that I’m not good with money, or I don’t like numbers or whatever it is like when you pay attention to it and learn and grow. It shifts that story. And that shifts so many other things in just your day to day operations of how you’re running and operating your business.

18:08

Yes, definitely. And, you know, part of the process is reverse engineering what you’re doing. So with business owners, I often get them to shift their thinking on expenses. What’s the benefit of that? Are you making a return on that? And so, you know, you talk about wanting to have a certain amount of profit, well, how do we get there, we have an idea where our sales are going to go based on history and trends, and you know, seasonality during the year. And so you have that, and you know how much you want your profit to be. And so then expenses, it really becomes going through those big expenses. And is this benefiting me? Or is it something I can live without?

18:56

Right isn’t an investment that you’re actually getting an ROI on? or… 

19:01

Yes.

19:02

Yeah, that’s huge. That’s for sure. 

19:05

Yeah. 

19:06

Okay. So any, what advice in wrapping up? What would you What advice would you give to an aesthetician who’s kind of on the fence and saying, Is this an expense to hire a CFO? Right? Is that an expense? Am I in that space? What benefit Am I going to get? Like? What would you say to that person?

19:29

Yes. So the intent of my process is to get a significant return and help give you that clarity so that you know where to go forward. And so, you know, if if we’re not getting a return, there’s a problem that needs to be fixed right away. And usually, if there’s a little hiccup in the process, it’s because there hasn’t been the full commitment to tracking and meeting those goals. Anytime you skip a monthly meeting or you know you’re not tracking your goals, you’re kind of letting things slide a little bit. So the point is when we have set meetings every month, there’s accountability there. When there’s tracking of goals, there’s accountability, to make sure that things are happening.

20:20

Love that. Perfect. So where can people find you follow you stay in touch with you? 

20:25

Yes. So I have my own website. I’m listed as Katie CPA LLC. And I’m also on LinkedIn, Facebook, and Instagram.

20:37

Perfect. Well, we will include all of those links. I encourage you spa owners to check Kristi out, do some research, you know, look into your finances, ask yourself, Am I giving my finances the attention that they need that they deserve? to really take me to the next level, because that is such an important piece in your company. So if you want to keep this conversation going, please head on over to the Spa Marketing Made Easy Facebook group we’re going to we talked about all kinds of good stuff in there, around structure, around finance, around sales, all of these cases, head on over in the group tag us if you have any questions and we’ll catch you on the next episode. 

21:25

As always, if you want to keep the conversation going, I want you to head on over to the Spa Marketing Made Easy Facebook group. The number one free resource out there for aestheticians focused on business building. We’ve got weekly marketing tips, a monthly goal setting and planning session, monthly aesthetician business book club, plus a community of thousands of aestheticians committed to business building in the spa industry. I’ll see you there.