Episode 119

Even money experts can use help

with Lisa Turner

The work on your money never ends. In today’s episode, I chat with Lisa from Accounted For You. We dive into the value of learning more about money, even if you already know a lot about money. We talk about the power of money management and mindset to create big changes in your business.

 

In this Episode:

  • 2.34: Lisa introduces herself and her business Accounted For You
  • 4.12: What was it that made Lisa interested to join Millon Dollar Money Management?
  • 5.23: What hesitations came up before Lisa invested in the program?
  • 5.50: How Millon Dollar Money Management changed Lisa’s mindset around adding extra team members into her business
  • 8.55: The biggest changes in Lisa’s business after completing the program

 

Doors Open: Million Dollar Money Management

 

Links:

 

Lisa’s Bio

Ever since I can remember, numbers are something I am lucky to find easy. Don’t get me wrong, I’m no maths scientist, but I truly enjoy the technical side and just have a real knack for it. So it was obvious the universe was setting me up for a future working with numbers. And my goodness am I so glad it did.

After many years in finance and accounting I decided I wanted to focus on supporting women in business, I took my commerce degree and grew it into a BAS Agent licence so I could have my own practice – Accounted For You, offering bespoke bookkeeping. We currently work with and love ecommerce, retail and creative businesses, looking after their numbers, payroll, BAS and the like, so they can focus on what they love doing.

 

Transcription              

The work on your money never ends. Today I chat to Lisa who is a bookkeeper and graduate of my course Million Dollar Money Management, and in today’s episode we dive into the value of learning more about money, even if you already know a lot about money. In this episode we chat about the power of money management and mindset into creating big changes in your business.

Hello, and welcome to the Clare Wood Podcast, where myself and incredible guests share about money mindset, financial successes, and how to manage your money in a fun and practical way to create wealth and abundance in both your business and your life. I’m your host, Clare Wood. I’m a business coach and a money mentor. I strongly believe that money has the power to positively change the world. I can’t wait to help you transform your mindset around money, create a love of numbers, and build the business of your dreams so you can live a life of financial freedom, giving, and global impact.

Doors are now open to my course Million Dollar Money Management. Inside this course I will teach you the mindset hacks that I use myself, and with my six and seven figure clients, to help them break through those old money stories that are holding them back. Inside the course, we also talk about managing that extra money that you make, so not only are you growing your sales, but you are actually making more profit inside your business as well. This course marries together mindset and money management to help you start building your million dollar business no matter what stage you’re at in business. If you want to find out more you can click on the link in the show notes for today’s episode, I would love to help you stop building your million dollar business.

Clare Wood:                                    

Welcome to the podcast, Lisa. Lisa is a bookkeeping legend, and she joined the last round of my course, Million Dollar Money Management, and I’ve invited her onto the podcast today to have a little bit of a chat about it. Welcome to the podcast, Lisa.

Lisa Turner:                  

Thanks so much for having me, Clare.

Clare Wood:                

Well, before we get started, I would love for you to share with the listeners a little bit about who you are and what you do.

 

Lisa introduces herself and her business Accounted For You

 

Lisa Turner:                  

I’m Lisa Turner, of course, and I have my own bookkeeping practice, Accounted For You, where we do bookkeeping for those who don’t want to do it, don’t have time, don’t have the knowledge, the space, and just want to move that to being outsourced.

Clare Wood:                

So for those that don’t know what bookkeeping is, and perhaps what the difference between bookkeeping and accounting is, would you mind explaining? Because I know sometimes people aren’t familiar with that term at all.

Lisa Turner:                  

True, very true. So my practice, we do all your bookkeeping of your daily processing, your payroll, your expenses, your income, we keep track of the day-to-day movement of your money and help you with your BAS, if you have an IAS to lodge for wages and things, so ATO lodgements. We do pretty well everything except for your tax and your tax returns, so that’s where the accountant comes in, that’s the difference with us.

Clare Wood:                

Amazing. And what kind of clients do you usually work with?

Lisa Turner:                  

We specialize and love working with women in business, and we look after e-commerce, retail, and creatives.

Clare Wood:                

Fantastic. Well, thanks again for coming on, and I wanted to chat to you a little bit today about my course, and specifically why you jumped in to learn more about both money and money mindset. So maybe let’s start at the start, what first of all, I guess, piqued your curiosity, given that you’re already a money expert, what was it particularly about Million Dollar Money Management that caught your eye or made you want to learn more?

 

What was it that made Lisa interested to join Millon Dollar Money Management?

 

Lisa Turner:                  

Well, I wouldn’t say I’m an expert, I’m always learning, and that’s one of the things that really was interesting to me, to learn more about it, and change the shift, because I’ve always been an employee and just working the really long hours, so I wanted to look, how can I change my business to be more flexible for me and change my mindset on how things are managed? Because the traditional way isn’t the way things are anymore, and I knew that it was time that I started changing things up a bit.

Clare Wood:                

So you were more keen in learning the mindset side, or the money management side, or a little bit of both?

Lisa Turner:                  

Definitely a little bit of both, because while I am confident in managing my own money and saving and everything, there’s always things that you can learn from someone else that does things differently, and you being a accountant, I knew that I was going to get some more insight there as well.

Clare Wood:                

Yeah, amazing. So you had first found out about learning a bit more about money and a bit more about mindset. Were there any hesitations that you had in investing into this particular program?

 

What hesitations came up before Lisa invested in the program?

 

Lisa Turner:                  

No, no hesitations in investing in this particular program because that’s exactly what it is for me, investing in my business and myself and growing. My only query, and I went through this was with you, was to which was the best entry point for me to work with you, and this worked out to be the best starting point.

Clare Wood:                

Yeah, awesome. Well, I’m really glad that you jumped in. So what were some of your biggest takeaways from going through the program?

 

How Millon Dollar Money Management changed Lisa’s mindset around adding extra team members into her business

 

Lisa Turner:                  

So some of my biggest takeaways was definitely working on my mindset and changing the way I think about doing business, working the long hours, and changing things up and adding an extra team members to help with that. It really helped with upleveling and changing the way my business was going, that was probably one of my biggest takeaways, I don’t need to do all the things, and I know a lot of people struggle with that one. And changing the way I offer my services to clients, I worked through that, and I had been planning to do it for a long time, but it’s just one of those things on the to-do list, you never make the time, this made me make the time to sit down, review it, and offer these new packages to all my clients, and show them what I was changing too.

Clare Wood:                

Yeah, awesome. So if people are listening and thinking, what does mindset even mean? Can’t you just hire people. Why do you need to work on your mindset to change up your pricing or hiring? I’d love to hear in your terms what it means to you having been through that process.

Lisa Turner:                  

I felt, and this is probably really common, that if you’re adding in more team, it’s less personal for the clients that you’re already working with, it would be too hard to manage extra people, and actually cost you money, so it’s good to turn that around and go no, it helps you grow, it helps give extra availability, it helps you offer extra services, and that was something that I struggled with to think, I don’t want to my clients to feel like I’m just passing them off to someone else, it’s all the team, we’re all working together, and so that’s what I had to work on from my mindset to change the way I was thinking about how it would look and feel.

Clare Wood:                

Yeah, and it’s something I’ve spoken about too, because mindset’s my jam, but I still have a coach that I work with because I find that when it’s actually you and your business, it’s really, really hard to see things objectively, because you’re emotionally involved. I know even with my own pricing, it’s something that I really need to bounce off someone else to really check in, is this the right price point? Am I going to be attracting the right kind of clients, depending on where I position things? So yeah, I’m obviously a big believer in this work, and I’m also a big believer that the work doesn’t end, so thank you for sharing some of those wins.

Now given that you do have your finance background, something really interesting that I found the last round of the program was that I had quite a few money people who came through. I’ve actually already had Jodie come on the podcast, and she’s a virtual CFO, I’ve obviously got you as a bookkeeper. What on the money management side, firstly what does money management mean to you? And what were some of the things that you took away to do differently in your business?

 

The biggest changes in Lisa’s business after completing the program

 

Lisa Turner:                  

This is going to sound so bad, but I work with all my clients to do all their budgeting and their planning, and I don’t do it for myself. So that’s something that I’ve really learnt and worked with you to actually apply that to my own business, because for the same reason I tell them, how can you plan and grow if you don’t do these things? I have to do it myself as well. So that’s why it was really good for me to do it from a financial perspective, I have budgets in place, I’m planning for the next year.

Clare Wood:                

Yeah, and people get a little bit embarrassed to say that, but I would say, I’ve been doing this for gosh, five and a half years now, and I would say that 99% of people don’t have a budget or financial targets in place in their business, and that includes all of the accountants and bookkeepers and people in the finance space that I’ve worked with over the year. And similarly, it’s the same in other industries, I work with lots of people in digital marketing as well, and I have to say, they are some of the worst people at working on their marketing plans because they’re so busy helping everyone else to get their ducks in order that it’s the last thing, and I can imagine it’s the same for you. I know that you love to serve your clients, you always have their best interests at heart, and so it’s probably something that’s just slipped to the back of the laundry pile. So I’m really, really glad that you took this way. So tell me, after coming through the program, so you now have a budget in place for your business, right?

Lisa Turner:                  

Yeah, and that’s something that really came out of it. I don’t do client work on Friday, I work on my business, my budgeting, my planning, my marketing, and that’s all part of what I’ve done in the course with you.

Clare Wood:                

Yeah, awesome. So what do you think the value, why do people even need to have a budget in place? Some people, won’t differences is it going to make so many?

Lisa Turner:                  

There’s so many things that budgets can help with. You can see if you’re going to be running at a planned loss for the month to know if you need to find funding to cover that, make extra savings leading up to it, or are there costs you can knock out for that month, or increase your sales instead of cutting costs, as I know it’s really important to do instead. But that’s what it helps you do, and to know, okay, if I’m wanting to double my sales, how do I do that? Invest more in marketing, are there funds there?

Clare Wood:                

Yeah, and I find it really gives confidence as well, because I’m investing a lot at the moment, and the way that I’m able to confidently do that is because I’ve got my plans in place, and I can say, well, I know that this will lead to this, and if it doesn’t, then we can obviously course correct. But it really is having a bit of a plan in place. On the money management front, was there anything else that was something new that you took away or gained from going through the process?

Lisa Turner:                  

No, I think they were my main points, to actually just work on my own business instead of everyone else’s, and not to sound selfish but I do have to work on mine or else how can I help them?

Clare Wood:                

Yeah, and that is such a mindset thing. You’ve got to look after yourself first, put on your own life jacket before you can help others.

Lisa Turner:                  

Yeah.

Clare Wood:                

I know this is going on a bit of a segue, but I just want to share this story. I was on a plane recently, sitting next to my son, and they were going through the safety briefing. And they were talking about how if the oxygen masks popped down, to pop yours on first, and I was sitting there thinking, how could you do that, as a parent? And then I realized, if I tried to put it on him and he knocked it, and he blacked out, he’d be gone. Whereas if I was conscious and awake and had looked after myself first, I have so much more bandwidth to be able to help him. I’d be able to call for help, or fix his mask, or all of those things. And it’s something it all clicked in that moment for me, it’s a bit the same in business that if you want to help others, you really do need to look after yourself first, and then you have so much more to be able to offer to others. Anyway, just a little side story that I wanted to share.

Lisa Turner:                  

That’s so good.

Clare Wood:                

Amazing. So anything else that you wanted to add, or share? If anyone is wondering if mindset, if money management, if the course is something that is worth investing in?

Lisa Turner:                  

I highly recommend the course to anyone that’s even thinking about it, just do it. There are, of course, some difficult decisions to make ,some things that feel really icky, but that’s all part of working through it and up-leveling to a different place in your business. So there are heaps of great tools in there to help you change things to the direction that you want them to go.

Clare Wood:                

Amazing. Well, thank you so much for coming on today, Lisa. If people are wanting some help with their numbers, specifically in the bookkeeping front and are really wanting to take their business to the next level in that space, what’s the best way that they can contact you?

Lisa Turner:                  

I am on Instagram a lot, that’s probably the best place to catch me, @AccountedForYou, and then I have my website where you can book in a discovery call and check out the kind of services that we offer.

Clare Wood:                

Fantastic, I will pop the links so you can get in touch with Lisa in the show notes for today’s episode. And Lisa, thank you so much for joining us today.

Lisa Turner:                  

Thank you so much for having me, it’s been great.

Clare Wood:                

Thanks so much for listening. If you loved this episode, please share it with your audience, and don’t forget to tag me on Instagram @Clare_Wood_Coach. And also make sure you hit subscribe so you never miss an episode. Have an abundant week, and I look forward to talking to you again next week.

About your host

Hi, I’m Clare Wood – I’m a numbers geek, a travel lover, a reality tv addict, and a passionate business coach. I’m here to empower you to create an extraordinary business and an amazing life; because I believe you don’t have to choose between the two.

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