When you're creating that financial plan for your business, you need to pay yourself. And you need to make sure that you include your payroll in that financial plan. So you're looking at the numbers after you've paid yourself. So all the profit is after you've paid yourself.
Welcome to Thrive by Design, the podcast for ambitious independent jewelry brands, looking to profit from their products, get ready to make more and sell more doing what you love, without spending every single waking minute doing it. Hey, and if you're a creative fashion or product based business, I want to welcome you to the show. I'll be dropping big tips on launching, growing and scaling your business. So you can spend more of your precious time using your creativity to make money. You ready? Alright, let's do this. Welcome to the Thrive by Design Podcast, Episode 343. Hey there, it's Tracy Matthews, Chief Visionary Officer of Flourish and Thrive Academy and the host of the show today, I am excited to talk about today's topic, which is all about financial planning for your jewelry business or your product, business, whatever you have. And this is an important topic for very specific reason. Now, this is an audio recording if you're listening to this one. And I want you to just like wherever you are, raise your hand if you have a tendency to avoid the numbers in your business. Now, there's no shame in this, but it's awareness is the key, right? And you're going to hear a lot about my story. And when I'm talking to my guest today, Melissa Houston. And I wanted to have her on the show as a follow up for a couple of trainings that she did for our Momentum Program. We are bringing her on as a coach for the program, which is very exciting. And we do know one thing for sure, that six multi six and seven figure jewelry brands. And multiple seven figure jewelry brands have one thing in common. They have to look at the numbers in the right way if they want to grow and they have a strong understanding of the numbers if they have a profitable business. And so today we're going to dive in to some of the like high level aspects of financial planning and what you should be thinking about overall. And I decided after we recorded this episode that I wanted to have Melissa on like once a quarter so you're going to hear from her again, which is going to be awesome. And this is all leading up to a really amazing masterclass that I'm hosting next week called An Inside Look At A Seven Figure Jewelry Company. And this masterclass is really important because I hear a lot of people in fact, people who don't even have sales yet saying like, I want a million dollar company or whatever it is. And I think that they're not thinking through all the things that need to happen to build a company like that. And the first step is understanding what the organizational structure looks like, really having a strong grasp of the numbers and understanding how to build a business like that profitably. So you're not investing all the money you make back into the business and also understanding what it really takes because I think anyone could actually build a seven figure company but what ends up happening sometimes is that the business kind of gets runs away from the owner if they're not paying close attention to what is happening on the inside. It's an amazing masterclass, I hope you'll join us you can head on over to flourish thrive academy.com forward slash seven figures and discover how you can turn your six figure jewelry brand into a seven figure brand force. Okay, before I dive in to the episode today, I wanted to do a brief introduction of Melissa. Melissa Houston is the founder of the fractional CFO agency. She's also a columnist at forbes.com and the host of the Business Society Podcast. She's a licensed Chartered Professional Accountant, a CPA, and she's also a financial strategist for CEOs Hint hint. She loves helping product based and jewelry companies. And in fact, she helps these successful business owners increase their profit margins without having to increase their revenue so that they keep more money in their pocket, while increasing their personal wealth. We cover all these topics on the episode today. So without further ado, let's dive in to this episode with Melissa Houston. Hey there, I am so excited to have our financial coach for our Momentum Program. Melissa Houston on the show today, Melissa, welcome to the show.
Hey, Tracy, thank you so much for having me today. I'm super excited about this talk.
Me too because we're talking about how to invest money back into your business more than anything really financial planning for your business, which I think is something that a lot of makers don't want to think about because they don't like looking at the numbers and it is a really important thing to do. And if you don't do it the right way, not that there's always a right or a wrong way you might not pay yourself you might be investing too much money back into your business you might not be investing enough money have you back into your business? So we're going to talk about that today.
Cool, my favorite topic.
I want to hear a little bit more about you, like, give us a little background history and like what you do?
Yeah, absolutely. So, um, I have been a CPA for over 20 years. However, that was not my first career. My first career was in social work. So I worked in social work for about six years. And I realized it was high burnout. So I moved to something in business. And ultimately, it led me to accounting. Now, as I worked over the 20 year span, I realized, you know, what I was doing wasn't quite a natural fit for me. And I really knew that I wanted to become an entrepreneur. And my strengths are the social work side of me, plus my money expertise. And I decided to marry them both and become a business coach, or a financial strategist for CEOs if you want to get into the fancy term. And essentially, what I do is I help business owners get from that six figure point mark of revenue to seven figures and beyond whatever their, whatever their plans are for their business, through increasing profit margins, increasing the profit in their business, so that they get to keep more money for themselves and increase their net worth.
I love this so much. And I also love that you your focus is helping people are already at six figures grow to seven, because that's what in fact, our entire Momentum Program is about that. That's why we have you coaching in there. And you recently did a training for the students on financial planning. So I want to kind of dive right in to the meaty stuff right away, because I think that this is something people, they might have a bookkeeper who plugs in some numbers, they might be able to read a P&L report, or they might look at their statement of cash flows, or they might look at a balance sheet. But they're not really planning for their business. So let's talk about like, some of the basic things, first of all, that people need to be looking at when it comes to the numbers. And then how do you even start with a financial plan? Because I think it's overwhelming for a lot of people.
It's definitely overwhelming. There's a lot of fear. And I love how you mentioned, you know, bookkeepers? A lot of business owners have the bookkeepers. But there's a misconception of what a bookkeeper can do for you, right? So this is where people like me come into your business where we show you what happens after the bookkeeping, the bookkeeping is laying that financial foundation for your business so that when you run reports, everything will be accurate and up to date. And what you do is you interpret those business numbers into valuable information that's going to help you increase your business and optimize the profit, right. So the first thing though, might surprise you. But when I start working with clients, I start with their mindset. Because having a good solid money mindset is so important as business owners, because everybody has a Money Story, right? And money is probably the in my opinion, it is the most emotionally charged topic, and realizing what's holding you back in your business. So if it's your fear of looking at the numbers, or you're afraid of, you know, seeing it as failure, or you have some reservations around growing your business, and growing wealth for yourself, these are all the types of things that we want to address before we get into the real meat. Because if you've still got those reservations going in, you're going to be very resistant, right? So it's really important to clear that mindset. But my most favorite thing to go over with entrepreneurs, is creating that business financial plan, because it's so important. And if you don't have a financial plan for your business, yet, I highly recommend that you get one started.
Okay, so how do we get started with this? Absolutely. This
is a favorite question. Let me settle in here. So, you know, it can be over whelming for people who have never done one before, right. So I really try to start with simplicity. Understanding the purpose of this financial plan is essentially what you're doing is you're creating a 12 month forecast, you're looking out 12 months ahead of time and creating a plan for your business. So you've got your goals, and let's say you're a business who's operating at $100,000. But at the end of the year, you want to be operating at $500,000 in revenue. So what you're doing is you're creating that angle, and then you reverse engineer it, right. So I use fancy not so fancy templates, but I use templates. And all my work is done to excel and we just break it down month by month by month and create that plan where you're going to slowly grow your revenue because you're not going to go from 100 to 500 overnight, right? So you have to have a realistic plan on how you're going to grow your sales. And also keep in mind the expenses that come with growing your sales, right because that's so important, and making sure that your profit margins are staying consistent as you're growing your business. That is so important because people think, well, if I'm making profit, then that's a good thing. But the thing is, if you were operating at a 20% profit margin before you started growing your business now, in as you start growing your business that drops down to 10. Yeah, that's a bad sign, right? Like that means things need to be tightened up, you need to be looking at what's going on in your business to to fix that, because your profit margin has to increase. And your profits will increase with it. Right?
Yeah. I mean, I wish I would have talked to you about 25 years ago, when I was starting my first company, because, you know, you're, it's interesting. You said, like, going from 100,000 to 150. And I remember back then, because people ask me all the time, like, how do I grow so fast? And my first company, you know, we got to about a million dollars in sales for a low end product. But I had a lot of financial problems in the middle because I didn't really understand this, I overbought inventory. I invested too much in trade shows oftentimes. And there were I wasn't really forecasting for expenses and thinking like, How much is it going to? What is it going to cost to actually make those sales. So it was I ended up making the sales, but I didn't factor in like how much it was going to cost to make the sales. And then when things started going haywire, and the commodities market was skyrocketing, and silver and gold, and all the metals were like, crushing it, like it was so hard to like actually rank rein it in, like in between, like, almost like the wild wild west, like, like just trying hanging on for dear life trying to figure out what I was doing. And so it's interesting, and part of the reason why I wanted to have you on here and why I think this is so important is that people listening to this show, need to really fully grasp the numbers, especially, you know, I just did a masterclass about we're doing one about seven figure jewelry business owners. And one of the things that, you know, we know that they have a handle on, if they're profitable, I should say is that they understand the numbers, because that's a huge part of this. And they understand how they all play into each other. And so without kind of going on a big tangent here, I kind of want to dial it back a minute, like, let's say you are a six figure business and you want to scale to 500,000. Are you in 250 in the next year, or even a million maybe in two, three years? And you have a lower profit margin? Like what's your first step to kind of start increasing those profit margins so that you do have the money to reinvest?
Yeah, because you really want to make sure that your profit margins are tight before you start growing your business. Right. And I really love the story that you shared. And I just want to go back to it for a second. Because, you know, this is what I talked about a lot to where not all growth is created equal. And not all growth is good, right? So when you're dealing with fast growth, like what you were talking about, and you know, especially for product based businesses, a lot of the expenses are at the front end, where you don't get the money coming back into the business until the sale is done. You know, you have to have some careful planning in there as well. Right? Yeah. So when we go over financial plans, one of the first things I do, especially if you're selling more than one product, is we break down how much profit each product is making, right? You need to know your profit margins per product. Because quite often I have dealt with entrepreneurs who are selling products, they have no idea what the profit margin is, they think they're making a lot of money because they're bestsellers. And then when they look at the numbers, they're realizing I'm making like nothing on these products. So really looking at the numbers. And if you're not making money, you know, tightening up the expensive safe, there's ways that you can save money on the expenses. Or maybe you have to look at increasing your prices, or a combination of both. But really get that sweet spot where you are making your bid like your your product and your business profitable.
Exactly. And we've worked a lot with like primarily with jewelry designers, but we do have other product businesses and artists who come into our community. And the biggest problem I see with like kind of rookie designers who don't really know what they're doing is they either bought a software program that automatically calculated what they should be charging for the product, not knowing like that, how they should really be thinking about it because I learned this from a financial consultant once or they really don't know what they're doing. And they're actually selling wholesale pricing to, like direct to consumers. So they're selling like the kind of prices that you would sell to a wholesale store on their website and have no idea or on their Etsy platform because they're in my opinion, I'm not gonna sidebar here but like I believe that Etsy can sometimes be a race to the bottom with the money because you're competing with other people's pricing. Yeah, and so they are just doing it to make sales but sales is not profit. And yeah, the one thing that I want to just kind of dial back in my story is like for a while, like my business was really profitable, but I didn't understand like how all the things work together. Are when you're kind of growing really quickly. And I think that's really super important. And one other thing that I would say is that, like in the earlier years, like going from 50,000, to 150,000 150 to 300,000, it's a lot easier there. But when you start getting into the bigger numbers, it becomes a lot more challenging. So I want to hear from after we get back into the financial plan, we're going to circle back to that, hopefully, okay. Okay, cool. So what are some of the things you know, create the financial plan, the projections, like, what are some of the things that you would put on the financial planning spreadsheet? Or how, what are the things to consider?
So what I typically put on, you know, like, we're looking at revenue, we're looking at every product that's being sold, breaking it down per product, looking at cost of goods sold, and all the overhead that goes into your business, and then looking at the overall profit for the business, and the profit margin, right. And what I also find really important to include on that financial plan is how much taxes you're going to pay on that profit. Yeah, yeah. So often clients forget about that. And they get, you know, stung with a big tax bill at the end of the year. So we want to avoid all that and make sure that you're planning and putting away that tax reserve, you know, to pay your tax bill and be okay with it. So, these are like all the working parts that come together for the financial plan.
Yeah, that's amazing. Okay, so I mentioned earlier about like growing when your numbers are a little bit smaller, and you're doubling, it's not as stressful on the business, in my experience, but as you start to get into the bigger numbers, like high six figures, seven figures, it's almost like What took you to like one to 300,000? is not what's going to take you to 300,000 to a million and what's not going to take you to a million to like 3 million. So what are some of the things like how do you advise your students and people you coach, like your clients? Like how to think about, like growth? Yeah, planning for growth? And like, do they take out lines of credit? Like, is that a good thing? And should it all be profit reinvested back into the business? Or? I don't know?
Yeah, yeah. So what what we look at is looking at the cost to expand, right, because if you're growing your business and you're heading into large numbers, chances are you're either going to have to invest in some manufacturing, or get your own space for manufacturing, hire people hire a team. So when you do a plan that brings in all these factors together, and you really understand how much you have to sell in order to break even. And at what point you reach the profit that you want to reach, then it really helps you understand how much money is going to be needed to do these expansions, right. And you also want to figure out how realistic your goals are, and how realistic it is to make that money back. Right? So there's a lot of things to consider before you even start reinvesting your profit into the business. So once you get clear on your numbers, and you decide, oh, yeah, this is definitely a no brainer, this is something that I really need to go ahead with, because it's going to make me a lot of money, then you look at how much you're going to, you know, have to finance the project, or if you're going to have the profit to be able to reinvest into it. But one thing that we didn't talk about that I really, really want to emphasize for financial plan, if you don't mind, yes, is when you're creating that financial plan for your business, you need to pay yourself, and you need to make sure that you include your your payroll for yourself in that financial plan. So you're looking at the numbers after you've paid yourself. So all the profit is after you've paid yourself, you cannot survive without paying yourself right, you're gonna have your personal expenses. So just want to make that really clear, because so often I see entrepreneurs that are just not paying themselves and you're doing yourself a disservice. So now that I've gotten off my soapbox, they're
also like what I want to add to that is like your profit is not what you pay yourself to, you'd get to take it home. If it's left over. And you're not reinvesting it back into the business. Exactly. It's a different thing. And I made that huge mistake in the beginning, like I didn't have a formal amount that I was paying myself was just like, oh, what's left this month, I'll take it kind of thing. And I really want to drive this home. And if you have anything else to add to this, I'd love to hear in particular for this reason, a lot of makers when they're starting out, especially when they you know, they aren't trained in business or whatever, they get all the training on how the technical part of making jewelry or whatever it is. And unless they've gone out and learned it, they don't understand that like you're not an hourly wage earner, you are the CEO of your company. So you don't get paid by the hour it takes to make the jewelry that you're making. And I see this mistake over and over and over again from beginners, who are like, Oh, how much money should I charge? Like, how much should I charge for my labor? I'm like, charge the fair market rate for labor. Don't worry about what you want to get paid what you're trying to do. And then want to highlight another thing that you said, is to figure out like, how much do I need to pay myself at a not at a like bare bones but like to live comfortably? Like, what is that going to take, figure out what that salary is. And then when you get to that point, then you can incorporate that salary into your expenses and your business expenses, like the salary of the CEO, and then figure out what that breakeven point is. And then that's how you figure out how much you actually need to sell to profit. And I want to like reiterate that you said that because this is so important, people do not understand how important understanding your breakeven point is. And if you don't, and you're not clear on it, then you could number one, get yourself into a ton of debt. Number two, like get in a really bad situation. And number three, be spending money that you don't need to spend on a lot of things, because you're just like willy nilly looking at your sales and not really understanding like, what's legitimately leftover. These are all lessons I learned. So I can only see that because of that.
And it's super important. Less Yes, right? Unfortunately, sometimes we have to learn the hard way. And you know, hopefully people who are listening are gonna be like, Yeah, I want to avoid that mistake. Because here's a you know, this is a grim statistic, but 82% of businesses fail due to financial mismanagement. So if you learn at an early stage in your business, how to manage the finances in your business, you've just really increased the odds of survival.
Exactly. Right. So trail, right, yeah,
yeah. And a lot of people kind of sweep it under the rug and don't want to deal with it, because they feel that it's, you know, an expense that brings no value to the table. Yet, it's likely to be the biggest expense or not the biggest expense, but the expense that brings the biggest value to the table, because you're learning how to operate a traditional business that's going to be profitable, and stay in business for years to come. So this is your income stream, right? So you're investing and learning how to make this business the most profitable it can be. So there's definitely a return on that that investment. But people sort of you know, it's short sighted because they don't see it in the sales. Yeah, comes out the back end, right. Yep. So yeah, once you understand that, knowing your numbers is going to prevent failure in your business, and prevent you from losing everything, then maybe you'd get more on board with it. Right.
I don't know if you know this, but I had to file for bankruptcy. Did you know that? No, I didn't know that. Yeah. So like, from all this from like, personal experience? And okay. Like, I
had no what I think I did read something like that. Yeah,
I did have a really successful business. But then, like I said, it got away from me. And then everything spiraled and all the investments that I was making. And the credit that I was building up over the years are like, charging up maybe is a better way to put it kind of crashed down when like things really flipped quickly. In 2008. Like, it was so fast, like it was just like, ah, and interesting, because when I built Flourish and Thrive Academy and my second jewelry business, I didn't have any credit to build it. So I had to be so careful and watch the numbers like a hawk, because like, it's really easy to go into debt and like, get a credit card for like $20,000 or get, you know, line of credit for $100,000. And you're like, Oh, well, I have money, because you know, I can pull it from here, buy inventory from here. And I think that credit used responsibly is really good. So I'm not saying don't use credit to finance your business, I think that it can get out of control. You can I don't monitor and yeah, I learned a huge lesson in discipline over the last 10 years, because I'm finally getting out of my bankruptcy right now. Okay, and I'm able to finally get like business credit cards and stuff again. But I learned this huge lesson in being disciplined with how much money you're spending. But I will tell you that it does slow down your growth, if you can only operate on cash flow.
It does certainly, yeah. But do you feel better for it?
I feel better. I you know, I've had a really profitable business for the last 10 years, some years more profitable than others. And it's really forced me. And like, I hope this like drives home with everyone that is listening to it's really forced me to be conscientious about what I'm spending. And I've been criticized about it from people who have worked for me before because they look at me as being cheap. But I'm like, you know, if you can't put it on a credit card, and you're, it's coming out of your cash flow. And like, that's all the money you have, like, you have to pay attention to it very much forced me. And I'm like, the furthest thing from cheap, but you know what I mean? If like, do we really need that tool? Like, is that gonna like for an extra $300 a month? Is that going to really change our lives or is it just going to be another expense kind of thing?
Yeah, yeah. Well, you're being cautious, right? You've got the foresight. You know, you know that These things can happen and you need to be careful. Yeah.
So how would you recommend? Like, I'm not joking, but I'm joking. But like, you know, I wish I could have spoken to you in 2000. And like, six, because that's when like things were going so well for me. And like, what would you say to someone who had was doing really well had a very successful business? And then all of a sudden, some things snuck up on them. And they were like, a little bit underwater, like, how would you help them? Get out of a bad situation?
Absolutely, I would show them how to build a cash reserve. Right. So what that means is, you are keeping your profit in your business to save that for a rainy day, because business is cyclical. So you know, you may and as you well know, you may have had one great year, and then the next year, not so great. And then you know, three great years, and then all of a sudden, you're like living in the valley of doom, right? So,
I mean, for a lot of people COVID was the Valley of Doom was great. You know, it just really depends. But
but for those who were, it was really tough. That's where the cash reserve comes in. Super handy, right. So as a business owner, it's incredibly important to keep those cash reserves because we all know that the markets fluctuate, you know, what could be a best seller today may not be tomorrow. And you know, life is unpredictable. So reinvesting that profit to build that cash reserve is super important. And then the other thing is, you know, if you've got excess, if you're not reinvesting to grow, like if you're reinvesting to grow, then you absolutely keep reinvesting to grow. But planned growth, if you're not reinvesting to grow, if you're at like a comfortable point in your life, where you're like, this is kind of my sweet spot, this is where I want to stay, then you start building your assets in your business, building your wealth, right. So that because as business owners who I deal with, these are all, you know, not publicly traded businesses, you own your business, typically 100%. So then anything that you're putting into your business, and building value in your business, that is reflected in your net worth. So the important thing is when you know how to manage your money, because everybody can make a lot of money. But not everybody will be wealthy, right? So it's important to take that extra money instead of spending it on vacations, and you know, cars and you know, depreciable assets, take it and reinvest it. So then at some point, you're going to be living off the money that your money is making for you. So that's the big secret for wealth.
So what are some of your favorite kind of investments for product business like, like physical like real estate or things like that our assets inside the business? Investing in like the stock market? Or crypto or like, what, what do you crypto No.
I'm definitely not an advocate for crypto. But like, my personal, you know, investment choices would be different from somebody else's right. And I really promote having different sources of investments, different income streams coming in, right. So if you're at that point where you know, you're investing in the stock market, or you want to get into rental properties, or you want to become an angel investor, like there's so many options that are out there that you can do with your money. So it's a really great opportunity to start looking at how you can get that money working for you.
I love it. And so many great things. And I know what a lot of people have done is they've many, many people that I know from my industry as jewellers ended up buying buildings that they they rented out of either their office or whatever, so that it's like the rent is going back to them. Yeah. Or they had like a multi purpose space with multiple retail units where they could have other people leasing. So there's like, that's one thing that's smart investable, doing, yes. Have to pay rent anyway, for a studio, right? If you're, you know, I mean, you could you could do it in your home, but it's kind of dangerous to like be like throwing a torch. And you're home with your kids or whatever. But you know, as your business grows, there's a lot of different ways that you can use it as like an investment in your business, but also like something that will secure wealth for you later.
Exactly. I mean, you know, just you can be as creative as your creative mind will allow you to be when it comes to earning extra money as well.
Yeah. So Melissa, is there anything else that we need to think about now? And I'm actually like, going to extend an invite for you to come back again. And we'll maybe do this, order something. And now we'll do Money talks with Melissa.
That's awesome. Um, no, just, you know, my main point when people are first introduced to me, is really remember that nobody will care about your business as much as you do. So never give that financial power away. Yeah, it's so important to be involved in your numbers. You can have people advice You, you can have people you know, you know, telling you the greatest solution in the world. But if you don't understand what they're telling you, and you go ahead with it, that's a red flag, you really need to understand what's going on in your business before you can make those, you know, big decisions.
What how would you coach someone who didn't? Like they're like, oh, okay, this person's telling me to do this. But I'm like, not clear on like, what they're, they're telling me to do. Like, how? So? How would you like not embarrassingly, like, ask for clarification or something on that?
Yeah. Like, basically, when I start working with people, I assume that we're starting at Ground Zero. Yeah. You know, and it's not a reflection of how I, you know, view the other person. It's like, I don't know what you've know, what you've learned. And I also know that most people have not learned business finances, not because they're not capable or open to it or anything like that. It's because nobody's taught them. They don't know where to find that information. Right? Like, when we go to high school. Nobody teaches us about personal finances, or business finances, you know, you go to college, or you become an entrepreneur on your own or whatever, who's talking about how to manage the money in your business, right? So we just always start from ground zero and work our way up. And I just assume that we're all in the same boat. And we're going to pretend that we all know nothing. And and the best way to do that, too, is also because if you think you know something, but what you've learned is wrong. Yes, you know, then you can learn it the right way.
It's interesting that you say that, because I've talked to so many different people in like, you know, we talked about bookkeepers, like business advisors, or like financial advisors, versus a CFO type of person versus someone who's like more of a business manager who like, or controller. Like, there's so many different perspectives. And I don't want anyone to confuse like your bookkeeper, or necessarily as the person who's going to help you get to a place where they're telling you how to grow because I've had so many different bookkeeper, because they they want to play it safe, so you don't get audited. But there's a lot of things that you can legally do to like increase your profit margins. That might, you know, I mean, I'm not suggesting anyone do anything risky, everyone's got to do whatever, like legal things. thing. But also, like, you know, you want to have like a sounding board, or someone who can tell you like, these are some of the things that you could do to increase your profit margins, or to increase your write offs or to pay less taxes or, and it's not about cheating the system or anything like that. It's about the most out of your business. You guys work hard. Yeah, for what you earn, and you should be able to keep a lot of it.
Exactly. Because if you're not keeping it for yourself, you're just lining somebody else's pockets with
it. Exactly. Yeah, exactly. So Melissa, thank you so much for coming here today. And it's been a pleasure having you on work and everything so much
for having me. Yeah, so you can visit my website at Melissa Houston. cpa.com. And if you want to follow us on social media, I'm on Instagram at Melissa Houston CPA and in LinkedIn as well. Amazing.
Thank you so much for listening to the show today. What an awesome episode with Melissa. If you're interested in joining us for an inside look at a seven figure jewelry brand, head on over to flourish thrive academy.com forward slash seven figures. And if you're interested in getting coached by Melissa in our programs, head on over to flourish thrive academy.com forward slash momentum and apply for momentum today. This is a perfect program for jewelry makers and designers and other product business owners who are already hovering around the six figure mark really want to scale and make big waves with their business and grow from, you know, six figures to multiple six figures or seven figures and beyond. So if you already have a six figure company or multi six figure company and you're looking to scale, check out what momentum can do for you. We are here to support you. That's flourish thrive academy.com forward slash momentum. Thanks so much for listening to the show today. This is Tracy Matthews, signing off. Until next time, thank you so much for listening to today's episode. It's my mission to help 1000s of creative businesses inside and outside the jewelry space use their creativity to make money. Make sure that you're subscribed to Thrive by Design on iTunes, Spotify, Stitcher, and wherever podcasts are played. And we'd love to hear what you think. Please rate and review the show and if you're inspired, please share this with your friends. Cheers to seeing you flourish and thrive.
