Today I’m excited to introduce you to my client Sophie, the owner of Toastworthy. Sophie reached out to work with me because she was constantly anxious about her finances and felt guilty about spending money. Working with me in my five-month coaching partnership was a way for Sophie to invest in herself and close the financial education gap she felt was present in her life.
You might find Sophie’s story to be unique because through our work together we’ve been able to impact how she manages both her business and personal finances. When we first started working together her number one goal was to feel in control of her finances. She wanted to feel confident with exactly how much she could spend. And she’s achieved that financial result but she’s also continued to strengthen her financial awareness to support her growing business and personal needs.
In this episode, you’ll learn…
- How working with a coach has allowed Sophie to mentally separate her personal and business finances
- How Sophie has created trust with herself and shifted her financial anxiety as a result
- How her financial goals have helped her day to day spending habits
- How she’s learning to recognize her own financial wins and shifts in mindset
If you’ve ever been curious about what it’s like to work with a coach you’ll want to listen to this episode. Sophie shares the exact impact coaching has had on her ability to focus on the things she’s good at as a business owner while also holding space to fall in love with her numbers.
Listen to Sophie’s Money Files Episode
The Transcript
Keina:
[00:00:00] Hello everyone. My name is Keina Newell. I’m a financial coach and I work with professional women and solopreneurs to create new possibilities with their money. If you are tuning in right now, you are joining me for money files. So welcome. Hi, welcome to another episode of money file. So today you’re going to hear a very candid conversation with my client, Sophie.
[00:00:23] She is the owner of Toastworthy in the DMV area, and she is one of my clients where we get to actually talk about business finances and personal finances. Our conversation also dives into our shared entrepreneurial experience as being business owners and really just thinking about. How our relationship with money impacts the way that we manage our finances.
[00:00:46] So tune in and enjoy. Hi, thank you so much for joining me for another episode of money files. Today, I am joined by my clients. Sophie. Sophie is actually also a business owner. She owns Toastworthy. So if you’re in the DMV area, you should look her up. So hi Sophie.
Sophie:
[00:01:04] Hi, I’m so excited to be here. I feel so special and honored to be a part of this.
Keina:
[00:01:11] Well, tell us a little bit about yourself.
Sophie:
[00:01:13] Uh, yeah, so I. I mean, I, I grew up in Wisconsin, um, which I think is a part of my money story, went to GW for college. I I’ve worked in restaurants since I was 13. And so I have a lot of experience in restaurants. I thought I wanted to be in public health for a little bit.
[00:01:32] And so worked at a nonprofit after that, went back to hospitality and worked at soul cycle and then sweet green and had some corporate marketing experience there and then quit sweet green. Didn’t know what I wanted to do. And. Like started a business five days later, but bought an Airstream, um, and started Toastworthy.
[00:01:52] And so I’ve been doing that full-time for the past, like two and a half years, and obviously had a rough year with the pandemic, but I love my business and I love what I do. And so I can’t really see myself doing anything
Keina:
[00:02:05] else. I totally relate to like leaving your job and starting your business. Yeah,
Sophie:
[00:02:12] let’s go
Keina:
[00:02:13] say that.
[00:02:13] I highly recommend it, but I had a field of dreams moment. Like if you build it, they will come exactly. Where are they? And it took
Sophie:
[00:02:22] much longer and more money than I ever thought it would. So that is a lesson I’ve learned and would love to pass along. But I also think like we’ve talked about. It, it does work out and that I’m resourceful and smart and ingenuity, and I can figure out problems and so would have definitely done things differently.
[00:02:41] But I think that’s also part of the learning.
Keina:
[00:02:44] Yeah. I feel like you have a unique story because you’re also, my viewpoint of view is that you’re a risk taker, which I think is really good as a business owner. Also I’m may not be as much of a risk taker as you, so I take more calculated risks, but there’s, I think different approaches to being able to like start your business and yeah, I want to go back, like what made you reach out for.
[00:03:11] Well, hi, I have
Sophie:
[00:03:12] had no financial experience. Like I’ve never, I didn’t take a class in college. My family never talked about finances that much. I didn’t know. Like, I didn’t know that you could like divide your paycheck by percentage. There was just a lot of. Education that I’ve had around finances. And I think that then has also perpetuated like a lot of anxiety and guilt around money.
[00:03:38] And so I viewed hiring you as just like, this is like my college course of learning about money, right? Like this is the money that I would have spent in college for. And it just was like one of the last things that I felt in not one of the last things, but in my adult life, it was just, it’s such a big component obviously of my business and then my personal life.
[00:03:59] And it just was something I didn’t feel control over, but that something that I learned when starting my business was like, listen, like if other people can do it, I can do it. And so why is there, why do I feel like I can’t have control of my. That like, it just didn’t really make sense. And I wanted to be a person who felt like they were in control and just had more experience.
[00:04:21] I knew that learning more about finances was going to make me a better business owner. And it was something that I couldn’t really get around. But the bullet and I was like, enough is enough. I can’t live in this money, anxiety anymore.
Keina:
[00:04:34] And I should name like for anyone who’s listening. So Sophie and I have worked well.
[00:04:38] We worked together for the past few months, but also we’ve worked on personal and business finances, which like you’re in a unique situation in the sense of you are full-time in your business for yourself. But like as a business owner, you have to understand. Your personal finances because your business has to pay you.
[00:04:59] And then you also need to understand your business finances, because you want to be able to take care of your business. Your business needs to be sustainable there as well. Yeah. And I say sustainable with air quotes, like being able to make very intentional decisions about like how you want to spend money in your.
Sophie:
[00:05:16] Yeah. And I mean, it felt messy at first, but it has gotten a lot more clear and like separated, which I think is helpful. But I think that the anxiety that I was feeling around finances was, you know, for my personal finances, but also for my business. So like my purchase decision and the way I’m viewing money.
[00:05:37] Has impacted both sides of that. And so that’s really nice to see, I think I actually feel, and I think I’ve told you this, like, way more confident with like my business purchase decisions. I feel like I trust my decisions more so than I do with my personal, which is interesting. And I’m sure we can dive into why that may be.
[00:05:57] Yeah.
Keina:
[00:05:57] Let’s talk about that. Why do you think, why do you think you feel better about your. Business decisions.
Sophie:
[00:06:04] I feel like I can easily justify them. Like I know I need a drill. So I like for, to like work on my business. So like I can justify that. And I feel like with my personal finances, like, do I really need to get my nails done?
[00:06:20] There’s a world where like, I don’t need to get my nails done or do I really need to get the cut up pineapple at whole foods? Like, you know, like that, those luxuries, I feel like you can always. Say no. Or there’s like a reason for you not to, so yeah, there’s this kind of like guilt. Narrative in my head of like, I don’t really need that,
Keina:
[00:06:41] which I think like it underscores, I think why we started working together.
[00:06:45] Cause you started talking about like the anxiety piece with being able to, I was actually just looking when you told me, like what you desire is like you wanted to feel. And that you worry that you’re a spender,
Sophie:
[00:07:01] I am
Keina:
[00:07:02] as well. But how have your, like, have your spending habits changed since we started working together? Well, I
Sophie:
[00:07:06] think that something that I wasn’t doing before I started working with you is I would never look at finances. It just freaked me out. And it was this huge buildup. And I would wait so long to look at my bank accounts or look at QuickBooks.
[00:07:18] And I just like. Look, or even like just evaluating my Amazon purchases because I feel like those are always just like really easy to click, click, click, buy now, buy now and something that I’ve learned. And I like need to remind myself to get my confidence and gain more trust in myself. Is that like, when I actually do look at the numbers, it’s never as bad as I thought it was.
[00:07:38] And that even with like my personal spending, it’s like, I love Lulu lemon and I just love wearing it. I love buying there. I love shopping there. And so I always thought my Lulu lemon expense was way more than it was. And actually like looking at it, it’s like, oh, I only buy Lulu lemon, maybe like three times a year.
[00:07:58] And like in the grand scheme of things like that, Not as bad as I thought it was going to be.
Keina:
[00:08:04] How has grounding in like the actual numbers? Like what’s the other impact that has had. Well, I feel
Sophie:
[00:08:11] like the goals have become just way more attainable it’s just happened. And I think that what’s great is that being able to like, look at what I want and knowing what the end goal is and keeping the end goal in mind helps the smaller purchase decisions.
[00:08:30] So like I know that like, If I buy something that what that may be sacrificing in the longterm and genuinely to like the credit card debt that I have, or just like the other, like little debt things that I had, it was causing me so much anxiety. And to be able to like, have paid basically all of those off, that was what I wanted to focus on as opposed to like the little purchases.
[00:08:55] And so it’s like weird, but almost like keeping like the debt in the front of my mind, as opposed to like the back of my mind. Has made me like conquer it
Keina:
[00:09:04] quicker because I think of like, I get this image of, I used to be the kid, like, please don’t close my door. Like I need a little bit of light in my room.
[00:09:15] Right. And I think about like the shadows that are there and they look so big and then you turn the light on and it’s like, oh, it’s. It’s actually not that big. Right. Or, and you can clearly identify what it is it’s making that big shadow, which I think is the same as you’re talking about like your finances when you know how much it is that you actually, like, I do want to get my nails done.
[00:09:38] Cause that’s, that makes me feel great. It’s an opportunity for me to sit down and not have to think about anything else. And not seeing it as like an indulgence all the time. Right. But like thinking of like the aspect of, of self care that it could provide, or being able to just being able to have like a different lens on, on how you’re viewing these quote unquote big things and they could actually be small and then you can see like, oh, I actually.
[00:10:07] I can go to Lulu lemon. Maybe I’m not going every week to buy a set of pants. Right. Because like that doesn’t feel in alignment with what I actually want to be doing with my money. It doesn’t have to be this all or nothing approach.
Sophie:
[00:10:20] Yeah, definitely. And I think that’s the alignment piece of it too, is like, you know, the choices that I’m making, I feel.
[00:10:28] Like, I know what I’m sacrificing or like, not sacrificing, but I just know that like, I just, like the past couple of months have been really stressful, like with work and like, I haven’t had time to do much or even like to go out to eat. And so it’s like, I need to kind of get my nails done as like a space to like, not think about the business and work and it’s going to make me feel really good and enjoy myself.
[00:10:50] So, yeah, I mean, but I think it’s also like a progress, right? It’s like, it hasn’t been just like all of a sudden things are better, but the steps that I feel like I’m taking. Make me feel like I’m more in control. And I think the other thing that I’ve, and I’ve said to you this a lot, but just being able to like, have someone to like talk to about things where I can be like, oh, I’m going to ask you now about that.
[00:11:15] And she’s going to tell me like what to do. Cause sometimes I just don’t know. Or I like, as a business owner, I have so much on my plate where I just want someone. To like, give me a little guidance and just like to make that decision and help me like figure it out as opposed to feeling like it’s all on me.
[00:11:32] Yeah.
Keina:
[00:11:33] Yeah. And I think a big thing for you is being able to separate how you think about your business and your personal finances. Like I know you had some money saved that you could like live off of. So it’s like, how can we use that money intentionally, but then on the flip side of that, right? Like I think the intentionality came there with your worry.
[00:11:52] Lulu lemon. I don’t want to drain all my savings with Lulu lemon and really getting it really being able to actually have perspective on what it is that you desire to spend each month, while you also work at the same time in your business to set and meet like new monthly goals so that your business is taking care of its expenses.
[00:12:13] You’re saving for taxes. You are able to. Think about like, how do I want to invest for future, for future spending and like where I want my business to go. But then also being able to think about like, what is the transition plan for my business to fully pay me? And what does that look like in an actual numbers and targets and being able to kind of like for pass
Sophie:
[00:12:36] that out, there was a meme that I sent you on Instagram, but it was like, oh, I have.
[00:12:42] I dunno, $10,000 in savings, but I like I’m still broke, but like my actual checking account and it’s amazing. Cause like that’s how I actually feel now is like the money that is set aside for like the growth of the business. It’s like, I can’t spend that, like I’m broke. Like I have no money. Like I can’t, I can’t spend that because that money is going towards hiring person and getting a second Airstream and like paying myself.
[00:13:05] It’s amazing, like in the past like six months, how, like my mindset would have like, has like totally shifted because I would have. I know that in January, before I started working with you, it’s like, oh, well, like I’m rich, you know, like, let’s go buy like new stuff for the toaster or like, you know, whatever it is,
Keina:
[00:13:22] I have $15,000.
[00:13:24] I can try it,
Sophie:
[00:13:26] but like money has a purpose. Like it has a. Purpose. Right. And so it’s like, I know that that money is going towards goals that I’m working towards or, you know, investments. And so like, I don’t want to spend
Keina:
[00:13:39] that money. What’s been like some of the biggest aha moments you’ve had with your business now.
Sophie:
[00:13:44] Well, divvying out. Every income I get is just like, who knew that that was a thing that people do that makes so much sense.
Keina:
[00:13:54] So tell, tell people what you mean by divvying out.
Sophie:
[00:13:57] Like, you know, we set aside X amount for taxes and X amount for profits, and then there was X amount for pay. And so like figuring out those numbers and then like X amount for just like monthly and like expensive.
[00:14:09] So that’s been really helpful because now I feel like, oh, there’s money set aside for taxes. So like, I’m not gonna worry about that. Aha moment. Yeah. I mean, I think that’s the biggest one is that like every dollar that comes into my account, like I don’t get to spend, like, I need to like separate that.
[00:14:29] And I even think with like my personal account, like, I’m starting to think of more like, oh, I really want to go on a vacation or I need to like, buy my sister like a birthday present, or I want to give her a nice birthday present. And so it’s like, okay, well then that means that I can’t spend every dollar that’s in my.
[00:14:46] Like some of that needs to
Keina:
[00:14:47] be saved. When you think about how you’ve started to like divvy up your finances in your business. How has that also impacted like your ability to trust yourself and creating money in your visits?
Sophie:
[00:15:02] Well, it’s interesting because now it almost it’s like the, almost this, like the same anxiety that I was having before.
[00:15:09] It’s like, I don’t fully recognize how much I’ve actually saved over the past six months or how much I’ve controlled. Like, oh, like we’ve set aside a good chunk of money for like the growth of Toastworthy. I almost like haven’t given myself credit for that because it’s like, it’s almost like not in my mind to even spend it, which I think is like a growth step.
[00:15:31] Right. Like to know that like, oh, like I haven’t spent any of the tax money, like I could have, but I haven’t. And so I need to be more like gracious with myself to realize, wow, like that’s an accomplishment. Like I may be a spender and I love to spend money, but like the fact that like, I haven’t spend all of that.
[00:15:50] That’s a big
Keina:
[00:15:51] deal.
[00:15:57] I think the thing that I have to, I have to do this even with myself is like taking time to celebrate and pause and recognize because I think we get accustomed to like the journey and like the drive that we don’t pay attention to, like what’s around us. Right. And what’s worth celebrating. And I know an intentional shift that I’m making in my language is like, what small wins do you want to celebrate?
[00:16:21] It’s like, no, it’s not small. It’s a win, right? Like it’s a win. And that is going to put you closer to where you desire to be. But I think that’s also taking the time to stop and acknowledge those wins. Like you’re just saying, right. I’ve consistently says set aside money for taxes. My tax account has grown.
[00:16:39] And you can celebrate that a thousand times this year and that’s okay. Because it’s like still something that you’ve accomplished. And it’s the thing that is allowing you to build on something else.
Sophie:
[00:16:50] Yeah. And I mean, like I, I’m also like, and I need to remind myself, like I’m in the quintessential like great business problem where like the business has grown so much the past three months, but like, I can’t keep up.
[00:17:04] And so. That’s a huge win and I’m hard on myself because I’m like, well, I’m not booked every weekend. Or like, I’m not, you know, like September isn’t full yet. And like the business that we’ve done and like the accomplishments and like, you know, being somewhere really special on the 4th of July, it’s like, damn like, Like, like what come on Sophie, like relax, you know, take a minute.
[00:17:28] And, and so, yeah, I definitely need to like, be more proud and like recognize all of the things that I’ve done, because it’s been pretty special.
Keina:
[00:17:37] So I would say whether you’re Sophie or you’re listening to this right now, whatever you’re doing financially, like even just saying five minutes today, whether it’s like pausing right now and just writing things down that you’re proud of and posting it somewhere, that’s visual.
[00:17:51] I really like stationary. So I have post-it notes all around. So, um, because like you, you gotta remind yourself and like why you started, I have a coach that I work with and she talks. And that there will always be these results that you’re like working towards. And we kind of talked about it, Sophie, when we were starting.
[00:18:11] But like, just being able to realize that, like, by the time you meet the goal that you set for yourself, you’ll have another goal that you’re like looking towards. And so I think we all just like, need that reminder to like, press pause and look at like what it is that’s sitting in front of you before you like head on to the next thing, because you want it to like, Yeah, it’s
Sophie:
[00:18:33] hard to do that.
[00:18:34] And I think, you know, as like a business owner, it’s like always the next thing you’re like, okay, well I need a second Airstream or want to hire someone. And I like, you know, I need to upgrade this or do that. And I think the timeline with COVID because there was like basically no business for a year. And then all of a sudden it was like, Basically an explosion of growth.
[00:18:55] It’s just been hard to really pause and recognize, but yeah, I’m doing okay. You know, like I’m doing great.
Keina:
[00:19:04] One of the things that re that I said, like, so if we will pause on this conversation, but you started to talk about it before we started recording, was this like, thought of like, when I get to. Mm, insert the dollar amount, which I think shows up on in personal finances.
[00:19:19] It shows up in business finances when we’re like setting revenue goals. In the sense of like, when I get to 10 K months, like everything will be better. Or when I just make $200,000 a year, everything will be better. Where are you right now in that like train of thought, oh
Sophie:
[00:19:36] my gosh, it’s so wild because I never.
[00:19:40] Well, I remember like doing, thinking like eight K months were just like, when my first started the business, I was like, that’s what we need to like break, not break even, but just like, feel good. Right. And like, if I did that, I would feel so accomplished. And like the business we’ve been doing that has like, been crushing that like, It’s crazy to think about what the revenue we’ve been doing and like, yeah.
[00:20:03] I mean, even just talking with you now, it’s like, I haven’t fully recognized like how much business we’ve been doing. Like that’s insane. Like, and, but yeah, you think that like, everything is going to be okay, but I, in some way still have the same fears and anxieties of. That I, that I had when I first started the business.
[00:20:20] And maybe that’s speaking to just like being a business owner and each step you take, it’s like more responsibility, it’s more risk. And I’m obviously getting comfortable with taking more risks. But yeah, I think the idea of like that I’m not. A number isn’t, isn’t making my anxiety go away. And so it’s probably not really just about the money.
Keina:
[00:20:45] I imagine that, which it goes into like the money is emotional piece. Right. So it’s like, what other, what are you thinking the money will create for you? Which I think is that wherever you are in finances, it’s like, yeah. What result do you think the money will create for you? How can you control that result right now with how you’re thinking?
[00:21:10] Because there’s probably, I don’t know what it is for you, but right. Like, I’ll be happy when I’ll feel safe when, and,
Sophie:
[00:21:20] and it’s like, well, wait a second. I’m way past that. And I still don’t feel like I can get my nails done. You know, it’s
Keina:
[00:21:26] just like, it just like, I think it’s like the intentional, it’s the intentional shift because if it’s the nails being done, it’s like, what are we making? But if I get my nails done, what are we making it mean?
[00:21:36] And do the numbers actually align up with like what you’re making it mean? Yeah. And I
Sophie:
[00:21:42] think it’s the, it’s the business owner thing, because the sacrifices that I continue to make artists. The growth that I want Toastworthy to be. So even though we’ve like had a crazy month and have had so much revenue, it’s like, I know I still am saving and investing for that second Airstream or for our first hire and like all of these other things.
[00:22:05] And so it’s like, so I’m still kind of like, I’ve like, quote unquote bootstrapping or whatever, but it’s like, I’m making kind of like those personal sacrifices in order to like really. Try and grow the
Keina:
[00:22:16] business. No, I think that’s a really good point. And if you are a business owner or thinking about business, being a business owner where you like have a sinus loan, it’s like, should I take a full time and being in that space, like as Sophie and I are talking, I just think it’s important to be able to connect with like other people that are also business owners.
[00:22:35] I know Sophie and I have a mutual friend, Kayla that, you know, I know I can talk to her about. So why did we do this thing? What made this smart? No one ever told me about this, but like being able to have like real conversations, especially around the money piece, as a business owner, myself, I can relate to the, like, I actually feel like I have a post-it note in front of me.
[00:23:00] That’s like when I had 25. Everything will be fine. But to your point, like recognizing that, like my priorities will have also shifted, being able to see like, oh, but if I want to be in X position in a year from now that I actually might want to say more, or I want to do this. So like, for me, it’s being able to recognize that I have my priorities have shifted.
[00:23:27] And so like, it’s actually not about the money and recognize it that I’m in. And because I do manage my finances well, and, you know, as I continue to learn more things, even on the number side about being in business for myself, being able to make, just being able to calm my brain about that, like I’m actually in control and I have clarity over it.
[00:23:48] And so it’s okay because also it, I think it’s like the untold stories of like entrepreneurship people hear, oh, your business made $500,000. Yeah, my business did I did it. Yeah,
Sophie:
[00:24:02] totally. I think that, like, I’ve been blessed to know a lot of other small business owners and so like hearing, I mean, I have taken a lot of risks and I think like my businesses, even though like I’m a solo entrepreneur, it’s a little different in that.
[00:24:17] I have part-time employees and there’s overhead for like food and beverage and like the Airstream. And so we’re kind of moving towards that growth of where it’s like, I’m not going to be a solo entrepreneur for a lot longer. And like talking to another business owner who like owns a gym and a nail salon.
[00:24:32] And it’s like the stuff like the risks they took to start the. Help validate me and like the risks I take, because I feel like sometimes I’ve like, like I manage my finances as well. And I think that while I’m a risk taker, hearing other stories and comparison, I’ve like, oh, actually, like maybe I’ve done things better or maybe I’ve done things worse or, you know, so it’s been great to have those like other people to kind of like, Ideas off of, and just know that like, there are other people in the same pose and this solution they found also have like helped me.
[00:25:07] It’s like, do I get an SBA loan? Or, you know, do I get this line of credit or this kind of thing? So, yeah. I agree. It’s really helpful to have those kinds of resources and friendships.
Keina:
[00:25:17] Well, and. As you’re talking about like learning about other people and how they’re managing business. And especially I think about my business finances and personal finances through two different lenses.
[00:25:30] It’s really helpful. I think, to really understand like your relationship with money, because you could easily get caught up in like a cycle of guilt that you should be doing something better. And this isn’t wise because a lot of the. Things that we hear in terms of how to manage your finances, especially when it comes to personal.
[00:25:53] Like, you shouldn’t have debt, you shouldn’t do this. You should always have cash, right? Like it can make you feel like you’re doing things wrong. If you’re not quote unquote online in a specific way. So I think. Having the space being willing to like allow your space, allow the space for like yourself to learn while you’re on this road of entrepreneurship is incredibly helpful.
[00:26:16] And especially when it comes to finances, because I think that you’re going to like make decisions that. That wasn’t a good investment. And so I want to actually do something different in the months ahead because I learned from, and I think that where it comes into like evaluating what’s working and what’s not working in your business and being able to make those intentional.
[00:26:39] Yeah,
Sophie:
[00:26:40] that’s hard. I think you and Keela have both, both posted the same thing of like self care and like the importance of self care. And I went on a trip to North Carolina and it was a kind of like a big moment for me because I actually didn’t discuss it with you before I went. And so it was the.
[00:26:58] Decision in my brain where I was like, I am going to a, I’m burnt out. Like I am, I was, and I still am. I was like, so burnt out from the past couple of months where I was like, I just like physically need to get out of DC because I just can’t be here any longer. But it was an interesting moment of like, recognizing like this is going to be.
[00:27:19] A fairly big expense, not huge, but that it’s going to maybe take steps. It’s going to take me longer to do the other things that I want to do for Toastworthy. But I also know I can’t continue like this. Like there’s no me getting to the next step. If I don’t go on vacation or like in a month, get my nails done.
[00:27:38] Cause I just can’t operate this way any longer. And I think for me taking the step of hiring someone, it’s like, I know that like I can’t go through. Three months without someone by my side, because it’s not gonna end well, like I barely made it through these past three months. And I don’t want to, to your point, like, make the same mistakes and like kind of put myself through.
[00:28:02] Yeah. Yeah.
Keina:
[00:28:04] It’s hard. I want you to know guys, I can see Sophie and her nails are done. She keeps springing up her nails, but
Sophie:
[00:28:11] it’s been a couple of weeks, but
Keina:
[00:28:13] they look perfect from what I can see through zoom. I don’t
Sophie:
[00:28:17] need to get my nails done for awhile,
Keina:
[00:28:20] but even as you’re talking about that, right.
[00:28:23] Congrats to you for making decision outside of our coaching calls. But it makes me think about like what you learn as an entrepreneur, right? And, and even personally, I keep tying is back and forth because if you recognize like, oh, I need a break quarterly, or I need, uh, you know, a break every single month.
[00:28:44] It’s like, how do you build that in not only in is like, do I build it in as an expense? Do I build it in with my calendar? Do I build it in with my pricing? But like, those are things that you need to consider and that’s not going to be something that you necessarily know when you start your business, but as you learn those things about yourself and how you desire to operate, like that’s a good.
[00:29:07] Uh, thing to go back and evaluate when I talk to business owners and I’m saying like, Hey, go back and check your numbers quarterly. What might need to shift? What do you want to keep? What do you want to revisit? What do you want to make space for? Like, that’s, that’s the flexibility that I see of like being in control of your numbers and not just allowing things to happen and just being like, oh, I didn’t have a line of sight on that, but like, once you do learn about it, like how do you actually incorporate that?
[00:29:34] Also, it doesn’t become something that you feel guilty about and become something that you can be prepared for. Yeah. You move on from there. Yeah,
Sophie:
[00:29:41] definitely. And I think that like, it’s done as done and like there’s always a path forward. And so like trying to remind myself, just like, let the vacation go.
[00:29:51] It happened, you needed it. And like, we’re going to talk about how we can prebook so that it’s not as expensive for next year. Let’s book it now for next year. So it’s not double of what I paid for, you know, but yeah, to your point, I mean, I think it’s been great to like constantly reevaluate things. And one thing that like I’ve even learned, it’s like, I feel like the more I share with you, the less sick is on.
[00:30:20] It’s on my shoulders. And so like talking and like coaching myself to be like, just get everything out so that you don’t feel like you’re holding anything else like in, and so that’s why it’s been so great to talk with a coach because it’s like, I’m not just doing this on my own. Like I have help and support, and that’s just been a huge weight off
Keina:
[00:30:40] my shoulders.
[00:30:42] And I know one of the things you talked about early on was like being able to free up that brain space for yourself has allowed you to be able to show up where you want to in your business, right? Like a thousand percent. Yeah. Yeah. It’s like, oh, now I can actually think about the thing I’m actually really good at, which is, you know, providing these like exclusive experiences for people.
[00:31:03] And I’m not being bogged down by this like, thought that I’m like bad with money or I’m anxious. And it doesn’t mean you don’t get to look at it. Right. Or you don’t need to look at it because you want to be informed, but it just puts you in a much different position to manage your
Sophie:
[00:31:17] business. Yeah. It’s almost like I know every other week or however frequently, it’s like, That’s going to get addressed.
[00:31:25] And so I don’t need to like, worry about it kind of in the meantime, obviously I like check my finances and like do things in between that. But like, again, just like knowing that their support and it’s like, oh, it’s going to get figured out. Like, and there’s a pathway to do that has just been like. Yeah, so helpful.
[00:31:43] I’m like so excited to talk to you next week on our call. Cause I feel like I have things I want to figure
[00:31:49] out.
Keina:
[00:31:52] Is there anything we haven’t talked about that we have talked to.
Sophie:
[00:31:55] No. I mean, I, I mean, I think the, I think there’s a lot of like lessons that I’ve learned, like with family that’s like, and kind of, I always feel like that’s been kind of for anyone in whatever their situation is, how, how, like my family has used money in that it’s been passed down.
[00:32:12] And so this guilt of like guilt of spending guilt of having guilt of. Everything. And so trying to kind of like unlearn some of those familial things while also then like still being in contact with my family and in like weird ways having, you know, those stories come about, that’s always been like a huge part of my money story.
Keina:
[00:32:33] Uh, I, yeah, I feel like a lot of people can relate to that because family has really strong, strong input. I read, I was reading a book called money mammoth, and they talk about like, when you separate from your tribe and the tribe being your family unit, and sometimes they can be accepting and sometimes they can’t be, and it can be.
[00:32:52] You know, it has just has a number of different ways, whether the expectation is like you’re supposed to help your family, or you’re supposed to grow up in this town and have this type of job, because that’s what we do. You know, our last name is X. And so yeah, you have to realize how that plays a role in how you approach your finances.
[00:33:09] So yeah, so much, so much work that can be done there so
Sophie:
[00:33:13] much. I think for entrepreneurs to have just like individuating from your family and. Not all my family members are entrepreneurs and to your point, like risk takers. And so that was a kind of huge realization or kind of like transition of going through of like, how do I get comfortable taking these risks and like communicating that with my family or not, you know, but as like an entrepreneur kind of like feeling confident in your decisions, like outside of what other people may think.
[00:33:41] Yeah. As like a young adult has always, yeah. That was like a huge part of starting Toastworthy for me.
Keina:
[00:33:46] We’re excited to see where Tufts, where they go. Ah,
Sophie:
[00:33:49] me tell me I’m so excited and feeling really good about the future of test worthy and where we’re headed. So
Keina:
[00:33:58] what results are you most proud of for creating?
[00:34:02] Like when you think about what you’ve done in the lab? Gosh, like six, seven
Sophie:
[00:34:06] months. I mean, the revenue we’ve done has been like bananas. So I’m like super excited about like doing 20 to $25,000 a months. And like going from zero to that has just been like wild and crazy. And I think for me, I mean, obviously the revenue is a big piece of it, but.
[00:34:25] It’s just hugely validating, knowing the models working and that the numbers that I had thought, even if it wasn’t totally as fleshed out as we have it now, but that the margins, I was thinking of like how the business was structured, that like there’s going to be a rental fee and like that’s the basis.
[00:34:41] And then there’s extras. It’s just validating as a business owner to like, kind of see it play out. And it’s working in addition to the creative side where it’s like actually a service that people are willing to pay for and buy. So it gives me just more content. And making additional investments and buying a second Airstream and hiring people and all that kind of stuff.
[00:35:00] It’s like, it’s just great to know that like the business is working. And so that is just really exciting. Well, I’m so excited,
Keina:
[00:35:08] like I said for you and thanks for chatting with me today. Of
Sophie:
[00:35:11] course. Thanks for having me.
Keina:
[00:35:14] I just love it, that you made it to the end of this episode of money files. I hope some part of today’s story resonated with you and showed you the power of coaching today.
[00:35:24] I’m inviting you to take the first step and book a one-to-one call with me. We’ll discuss what you’re hoping to achieve with your money, where you need support and how I can help you reach your financial goals faster than you ever could alone. Go to www dot well-governed over now.com and book. Once again, my name is Keina and thank you again for joining me.
[00:35:46] Also stay tuned for the next episode.
