EP274: Danielle Hayden - What is “healthy business spending” and how does it enhance profitability?

Health Coach Conversations

As a business owner, it’s easy to get caught up in the mindset of cutting costs at all costs. But do you know that strategic spending could actually be the key to boosting your profitability? Danielle Hayden discusses the concept of healthy business spending and how it can enhance profitability. She also shares tips and advice to help health coaches grow their businesses.

In this episode, they talk about:

• The philosophy behind the saying “you need to spend money to make money” and how it applies to modern businesses

• Percentage breakdowns for main expense categories: Advertising & Marketing, Payroll, Outside Services, Operations, Training & Development

• Importance of investing in outside experts like bookkeepers, accountants, lawyers, etc

• Common signs that a business is either over or under-spending

• How can business owners determine the right amount to invest in things like advertising, marketing, etc

• Success story of a client who was able to replace her $120K income within 3 years

• Advice for new business owners who are hesitant to spend money due to financial instability

Memorable Quotes:

“It’s easy to shy away. It’s hard to lean in.”

“The best part about looking at your financial statements every single month is that you have an opportunity to correct fast.”

“Don’t wait to ask for help in your business. We’re not meant to go at it alone.”

“Don’t wait. The business owners who we have seen the biggest growth are the ones who took a chance on themselves. They took a risk in investing in themselves and getting the support that they need in order to grow.”

BIO:

Danielle Hayden is the Co-Founder and CEO of Kickstart Accounting, Inc. a bookkeeping and accounting firm that is on a mission to coach six figure (+ beyond) female entrepreneurs so they can better understand their numbers through bookkeeping, financial analysis, and support so they can grow profitable, sustainable and enjoyable businesses.

With over 15 years experience in the world of finance, Danielle has worked her way from accounting firm intern to the Co-Founder of Kickstart Accounting. She understands how complex business finances can be, and she knows that entrepreneurs need more than just a bookkeeper; they need real financial analysis and support in order to get the confidence required to create the sustainable wealth they deserve. Danielle brings a unique perspective when it comes to providing business owners with “the total package” as it relates to their finances. She’s has been a guest on multiple top-rated shows including, A Well-Designed Business® | Interior Design Business Podcast, The How of Business and Female emPOWERED: Winning in Business & Life. She is also the host of the Business By the books podcast.

When Danielle isn't in her money mindset work you can find her hiking or spending time with her family.

Mentioned In This Episode:

Kickstart Accounting: https://kickstartaccountinginc.com/Taxwriteoffs

Quiz to Find Out What Your Money Type Is: http://kickstartaccountinginc.com/quiz

Healthy Percentages worksheet: kickstartaccountinginc.com/healthy

Links to resources:

Health Coach Group Website https://www.thehealthcoachgroup.com/ Use the code HCC50 to save $50 on our website

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