Episode 52: Tracey Bissett - Know Your Numbers To Achieve Your Success

Gold Nuggets in this Episode: Steve didn't ask how Juliet was doing. She's going to tell us anyway because she prepared an answer. "I don't think any business owner can really hit their goals unless they understand the financial position of the company." "I don't think you need to do your numbers yourself. I think it's really important to get a qualified bookkeeper that you're able to communicate with as well." "The question of, 'what do you see when you look at these numbers?' Could start a wonderful conversation that could also lead to education." "Let's not just imagine it in our heads, but actually lay out a plan." "Revenue is vanity, profit is sanity, and cash is king." "Entrepreneurs may not talk about it the way we do, they might not manage it efficiently or effectively, but the mere fact that they are still in business and have been able to manage cash flow over whatever length of time their business has been around, is a testament to their ability and their success." "Give the financial side of the business as much attention as the other sides." "Banks generally aren't in the business of funding startups." "If you have a banker and you're unhappy, or you're looking for a new one, it's really important to talk to people you know." "The banker is not your best friend." "Nobody expects an entrepreneur to be perfect, but they do expect them to be transparent, knowledgeable, and to be enhancing their skills." Tracey has a gift for listeners (linked below). Steve's questions are famous. "When you understand your money, it changes the trajectory of your life." "It's really important to be kind to yourself." "I believe that through knowledge and discipline, financial peace is possible for all of us." - Dave Ramsey   Our guest is Founder of Bissett Financial Fitness, Inc., Tracey Bissett. Tracey has over 20 years of experience in financial services. Prior to Bissett Financial Fitness Inc, Tracey worked as an executive at TD Bank. Her experience and education make her uniquely qualified to coach on all aspects of money. In 2020, Bissett Financial Fitness, Inc. launched the Young Money Scholarship Fund to assist post-secondary students with their finances. Tracey holds an MBA from Dalhousie University, a Bachelor's from Queen's University, a Teaching and Learning in Higher Education Certificate from Centennial College, and a Higher Education Teaching Certificate from Harvard University. Song by Adam Vitovsky / CC BY 3.0