Episode 234: The Impact of Profit First with Gabriele Nicolet

Hello, friend. I just want to let you know that we are officially changing the name of the podcast to the Entrepreneurship Elevated Podcast. But it is still the same show and it is still the same content. We just wanted to make sure the name was a little bit more reflective of all that we cover. Our aim is still to bring you ultimate profitability, but it's also to elevate you in all aspects and to bring you some joy and ease and fulfillment to your business. That being said, please enjoy the show.

You two support each other over any. If I say comfortability, you've just been jumped on me. You're like, oh, no, no. I always use that word.

Wait, wait. Evervescent. What was the word? Effervescent.

Jerks. I love you both. You're jerks. My two sisters. All right, my friends, you know where you are. You're at the Profit first podcast, and in today's episode, we're going to talk about implementing Profit first implementation in a business. We actually have a business owner, Gabrielle Nicolet, who's going to be joining us to share how she's implemented it in her speech language pathologist business. And you'll see the journey is not an easy one, but it is doable for you too. You're about to hear all that and so much more in today's episode of the Profit First Podcast. Ooh, that was a weird start. All right, welcome, everyone. Today's episode's gonna be off the rails a little bit. I already know because Amy's in the room. Welcome back, Amy.

Thank you.

So you. What were you doing? Were you working on scheduling and stuff?

I'm trying to learn your scheduling. Yeah.

So we just. Like we said, we got to turn up the heat. We got to get you in here. You were. You were awesome. You were on two episodes already, solo or not solo. You called in, I think, for it.

No, I was on vacay.

She was on vacay.

Wow.

She couldn't call in that day.

Oh, that's when we got the phone call. Like the.

Jeremy was here recording.

That's right. And Kelsey's like, oh, is it okay if I just don't show? It's like, oh, thanks for the warning. Yeah, appreciate it, Bob.

So that's the way I roll.

We get. So, you know, many listeners, like, they love the conversations we have. Today's gonna be, I think, a little bit zany, a little crazy, and a couple people, like, I hate that you do banter. You can skip. I'll tell you a little trick. Skip forward like, eight minutes. In and you don't.

You're good to go.

You don't have banter. So here's the. Why don't we do the introduction stuff and then we'll do the banter part.

Sounds good.

So I'm Mike McAllow. I don't know why I'm pointing you. I'm Mike Michalowitz. I am the author of Profit first and all these other books. My life's mission is to eradicate entrepreneurial poverty. You know that perception that the world thinks you as an entrepreneur are wildly successful, you have all the money and time in the world, and you got none of it. Well, we're fixing that on this episode and every episode that we do. And I'm joined studio by Kelsey Ayres.

Hello, everybody. You can find us on itunes, stitcher tunein radio private first podcast.com or Spotify and Harryheart radio.

Sorry. Hi, heart radio. Heidi Ho. Yeah, we're on Heidi Ho and we're doing a special offer. Right. We're trying to.

Yes. We'd love for you guys to leave us a review and ratings. So if you could just take a screenshot when you take a review or rating and send it to me, Kelsey, Mike Michalowicz.com and we'll send you a free book of mics.

And people are already taking us up on us. We had our first one come in a few days ago.

Yeah.

So it's working.

Awesome.

So, Amy Callis, I got a question for you. I prepped you in the beginning because this was such a weird one. Your. Your strangest talent now. Or is this strangest?

Yeah. And you said, strangest talent. We both decreed we did not have a strange talent.

So you don't have any challenge anything.

So.

So you opened it. You lowered the bar.

I lowered the bar. And you said, I got something strange you want. You don't have to share.

No, no. My strangeness is I am nippoless nipple currently.

Nipple.

She wasn't always.

I wasn't always nippolis, but I am nippolis now. A walking, living Barbie doll without the right measurements.

So you were diagnosed with stage three. Stage three Cancer.

Cancer. Breast cancer.

You're the first friend of mine that I know that had cancer. And we went out for drinks and we're talking about it. I didn't really understand. Stage three is you're far along.

Yes. And in one year's time, I went from zero. Last year's mammogram was great. Next year's mammogram, stage three masticizing. Through your body.

Oh, it's terrifying. So there's four of us that get together. We try to once a year. And then when this came down, you just dropped the news in front of all of us.

And it was because I'm thoughtful like that. I'm so sensitive.

No, but the funny thing is Irvin sits down.

Sharing is caring.

Sharing is caring.

But we sit down like, hey, we didn't know yet. And, like, how's it going? Oh, everyone's like, oh, this is so great. Like, want beer. And Amy's like, stage three cancer. And we're like, what the. What the hell?

Order another round.

I hammer you all the time. And I'm like. I'm, like, making fun of you. I'm accusing you of things. And then it's like, wow.

Oh, yeah. I had to bring it down a little bit. Sorry about that. But you guys were wonderful. You guys were incredibly supportive. Incredibly supportive. You got me through. I keep saying that.

You guys, your. Your ability to take it in such stride and. Yeah, and you're helping. You're encouraging many other women. You know, get.

Get your mammograms.

It saves your life.

Saved your life. Saved my life year over year.

Yeah.

Yep.

Wow. You're one of my favorite nipples people. Are you getting better?

Be.

Some women get tattoos and stuff. Are you gonna.

We are so, like, nipples are all the talk in my house constantly, like, what should mom get? What kind of nipples? My kids talk about what kind of nipples should mom get?

So what kind of nipples?

Well, my son wants me to get, like, the emojis of fists so that I could, like, chest bump and fist bump people at the same time.

I wouldn't do that.

Your wife Krista suggested stars, so I could always say, when Christopher's looking at me, he has stars in his eyes.

That's funny. That's funny.

That's Krista. Oh, there's so many options, and I just don't know what I'm doing yet.

So how's the emotional adjustment to it?

Fine. Really? I think I'm very lucky. I'm just extremely lucky. I'm surrounded by good people, lots of humor, and we laugh at it. We just have to laugh at it.

Yeah.

Yeah.

Okay, well, thanks for sharing that.

You're very welcome.

Kelsey, what's your.

Okay, so mine is.

I have 16 nipples. I was born that way. I'm actually a nipple donor.

No, mine is. I can do, like, an Elvis Presley lip.

Look at that. You can do it.

That's good.

Yeah, but now I can't do it.

Well, because we're laughing.

Hold on. You said you can do them both sides. You can barely do it on one side.

She totally can do it.

That's good. That's good. And you can't do the other side.

We need Jeremy. Oh, and the eyebrow. She's got the eyebrow and the lip.

Yes. Your left side of your face is now kind of. Yeah, up it goes up. Can you raise the lip without. Oh, you can do them several. Your eyebrow and lip. Can you do.

She can. Oh, one eyebrow.

That's your.

That's.

Whoa.

She's rolling her eyebrows now.

I have, like. The muscles in my face apparently are very flexible.

Wow.

Do you, like, practice very bendy.

No. And in fact, I like, feel like I need to get, like, Botox so that my face doesn't move so much all the time.

I never noticed them.

You want to freeze it?

Yeah.

Oh, my gosh. Don't you dare do that. I love your expressive face.

So I got my lone stranger. One strangest experiment you can do. I do this at a bar. You have to have a gold ring. I don't know if you have a gold ring on. You do if in our listening news, too. If you take a gold ring, it's got to be 14 carat or higher, and you rub it down the side of your cheek where your skin's very thin from your cheekbone down. On women, if you have high iron, it actually pulls the iron towards your skin and leaves a black mark. So you can start drawing pictures. On men. It really won't work.

So why?

Because men don't have as nearly as much iron as women. I think women have iron.

I'm iron deficient.

I'm iron deficient.

Yeah. So rub it down. You probably won't get a black mark, but go to, like, my wife, it will go black.

Does it have to be at a bar? Did you say something about a bar?

No, that's what I said. That's a bar trick. I was like, wait, I'm not doing speech hair.

You're talking about the environment with all the, like, hops in the air.

Everyone take off your gold rings. Yeah. You know over there, the nipplest section. The nipple donors.

The nipple donors of the nipples.

You know, if you have a triple nipple. If someone listening right now has a triple nipple.

My. My son offered me his nipples. He's like, what am I going to do with nipples? You want my nipples? I got some.

It's nice. But I wouldn't want put.

Yeah, I don't want my.

Then he's in the same delivery.

You have these two hairy patches on your chest. All right, guys. Well, we want to know what your strangest thing is, too, so email. You can email kelsey at Mike McCallis and just tell us your strangest kind of like bar trick or talent or your oddity. We love to hear. You'll get nothing for it. You will get nothing for it. I do want to thank our corporate sponsors, make this show a reality. Nextiva and Receipt Bank. We love you. And we'll tell you more about them in a little bit. And maybe I'm going to keep, you know, prepping people for this, another sponsor that may be coming on down the road. You won't hear them on the show for another six months if this comes through. But, you know. Okay, okay, okay. Let's get to the business at hand. Yes, her name is Gabrielle Nicolette, and she is a speech language pathologist who has almost 20 years experience working with young children with speech and language difficulties and other special needs. She is the owner of Speech Kids, llc, a private practice serving children and families in the Washington, D.C. metro area, and is the creator of the Toddler Talk online program for parents. Her business hasn't been an easy business. The whole time she's faced struggles and challenges and, and discovered Profit First. So we were really excited to bring on a guest who can share their journey with Profit First. So you, our dear listener friends, can perhaps follow a similar path. With no further ado. Gabrielle, welcome to our show.

Welcome, welcome.

Thanks for having me.

Oh, it's a joy to have you. So I want to talk, I want to dive right into the summer of 2017. We were talking off air and that sounded like that became a turning moment for you, but not in a, not in a joyful way, not so much.

September, end of August of every year in my business tended to be sort of a low point. And in 2017, I had actually already read Profit first, probably in April. But, you know, the reading and the implementation are two different things. And so I sort of went through the summer and it was, it's always slow in the summer. And at the end of the summer, we, my husband and I were sort of having to rely on credit cards to pay the bills. So we were charging groceries and, you know, paying for the last part of the family vacation. And it just, it sets up this really uncomfortable dynamic right where you're like, I know the money's coming, but it's not here right now. And it's just, I decided at that point that I was just, I Was done feeling that way. And it wasn't ever really a surprise. Like, this was a pattern that had been repeating for years, Right. Like, I have a seasonal business because of what I do. I tend to have sort of a nine month, nine, ten month schedule. But people go on vacation in August. You know, families with young kids are not thinking about a schedule in August, even sometimes in September. And so I would have these really, really low months. But I had no plan. I knew that that was going to happen, and I had no plan to deal with that. So I got a profit first professional in August, September, I want to say, of 17, I had to change bookkeepers because that person was not the right fit for me personally. But In January of 18, I hired the most magnificent profit first professional. Her name is Kathy, and she is like, you know, getting a system in shape. And this month, for example, I. And so fast forward, right, a whole year. I now have enough money to know that my payroll is covered until the next set of bills goes out and we, you know, do our monthly billing.

And are you, are you now paying yourself? You're profitable?

I am profitable. I am permanently profitable. I pay myself every month. I do all my allocations. I'm working on changing my percentages. You know, the percentages are not where they need to be by any stretch, But Kathy's helping me work through that. And I feel like there's a system and it's, you know, it's not done, but it's in process and it feels so good.

Well, I want to go through your story. Who? Kathy. Who? Which pfp?

Kathy Fishman.

Kathy Fishman. Awesome.

Awesome, amazing. She's the first money person who doesn't make me feel like an idiot.

I can relate to that.

Right?

Yes.

It's a shame that. Have you ever experienced that, Amy? Someone that's a financial professional of any sorts of numbers.

Panic me. Math panics me. I mean, panics me. And when. Oh, it's just. It's awful. Yeah.

And I feel that some professionals too, when it comes to personal finance. So my wife and I had a meeting. Very wonderful people. They still just looked at me and were ignoring my wife. Like she's not part of the conversation, like she won't get it. Did you ever feel that way, Gabrielle, that you, by whoever you're working with in the past, as they were doing your bookkeeping stuff, were you kind of seen as that you were not capable of doing it? Were you ever kind of discounted?

You know what, Mike? I think that came from me.

Interesting.

Oh, yeah. No, and one of the things. It's funny, I'm gonna get a little emotional about it. I feel like one of the things that I have had to do in my business is, like, is grow a pair, because, like, I can't. I can't actually be a business owner without understanding something about my finances. And it is incumbent on me. It's my job to find the people who are going to help me do that. Like, if I sit around like, you know, a deer in the headlights, because I don't like numbers, and I don't speak numbers, and, you know, I deal with words, but if I stay in that place, then I'm. That's on me. Yeah. So that was a huge sort of, like, limiting belief, you know, thing that I had to push through in order to even think of myself as a business owner, which I only really started doing, like, a year ago.

Okay, so. So I know tons of our listeners are facing that. How. And every entrepreneur that I talk to consistently says those exact words, I'm not good with numbers, which I think is a lie, but I understand the label. So, Gabrielle, how. Is there something you can share with us that. How did you get through it? Did you look in the mirror every morning and say, I'm good with numbers? I mean.

I have done that with other things. This doesn't. Hasn't worked for me.

It doesn't work right.

You know, look, we all have things that we're really, really great at, and we all have things that we're okay at, and we all have things that we're not so great at. I think the question is finding the person or the piece or the system that's gonna supplement what it is that your gifts are. Right? And so for Kathy and me, like, I now. Can. I know now what the questions are that I should be asking her? So I. And I know that it's my responsibility to step up, and I have found somebody who can explain it to me. And so, you know, and through her sort of walking me through now, I'm much more comfortable. Now I can look at my financial information and feel a lot more comfortable. I've got more work to do, you know, and part of that is because of the work I do. You know, therapists. I don't know if, you know, this. Therapists are not actually supposed to make any money.

I heard.

I heard musicians, musicians, artists and therapists.

You know, and so, again, like, I just. I think it's. It's just a matter of stepping up and walking through that wall. But. But having the right person or system in place to help you do it.

What about the pressure from your contemporaries, those other therapists that like, you know what, Gabrielle? No one makes money doing this. You know, and there's even this belief of self sacrifice. If you want to be of service, you have to sacrifice yourself. Gandhi, Mother Teresa.

Yeah. So I have chosen to stop listening to those people, and I joined a group business coaching program that is really being. It's tremendously helpful just in sort of even identifying, like, what is a limiting belief. And, you know, how do you deal with that? And nobody there is a speech therapist. A lot of them are coaches and, you know, therapists of other kinds of. But it's been really, really helpful to just sort of hang around some more business Y folks instead of more therapisty folks.

That's interesting.

Very smart.

Yeah.

So tell us about some of the practical applications. So before you implemented profit first, how were you running your business? The financial aspect? That's kind of scary.

Sorry. Yeah. Well, so at the. I bill monthly, I was very clear. Like, I knew when I was going to bill my people, and I was reasonably good about collecting stuff. I had somebody who was helping me with, like when people didn't pay. So I wasn't losing a ton of money that way. But basically, I bill the clients monthly. The money gets deposited into the account, and then I look in the account and I say, oh, my gosh, there's $10,000 in there. That's great. I have $10,000. You've heard this a hundred times. And so then I would say sort of do a cursory glance at, you know, what I needed to pay that month. And maybe I would forget something and maybe I wouldn't. Maybe would be higher or lower. And then I'd be like, oh, I hope I can last till the end of the month because, you know, I'm not billing until November 5th. And that's how it worked or didn't work.

What was the impact like emotionally for you? Is your husband in your business also?

No, my husband has a. Has a job that supports our family.

Okay, so I'm curious what. What the emotional experience was like for you when you were managing money that way. And also what was your husband's perception or family perception? Were you getting resistance or.

Yeah, I don't know. You know, I think for women owned businesses who are not the primary breadwinner, I maybe got a pass a few more times than I ought to have. And again, that's why I say I didn't even really think of Myself as a business owner until like last year, I, I was a therapist who had practice, right?

Yeah.

But we weren't relying on that money. It was kind of a nice to have and I was not acting as, as a business owner. I was not responsible in that way. It's not that I was like, how.

Long have you had the business?

Since 2009.

You sound like Bob Ross. Just look at me with your big afro hair. You. So today's Halloween when we're recording this. This won't go live until the new year, Gabrielle. But everyone's wearing their Halloween costume. So Amy's a pirate and it ends up this clothing she's wearing, she wears all the time. So it's really not a costume. She's put a thank God for the bantana on her head skull. And Kelsey is, it's almost indistinguishable how much she looks like Bob Ross.

I embody him, you embody him.

So it's just kind of peculiar.

I love me some Bob Ross.

Bob.

He's so sweet.

Like happy little trees. I mean, come on.

Happy little trees.

If you want to discover a fascinating story about Bob Ross, there's another podcast called the Way I Heard it by a guy named Mike Rowe. He did the show Dirty Jobs.

Yeah.

There's a Bob Ross episode and what he shares is like these, these really interesting vignettes about famous people that you would never have guessed. Bob Ross in the military was a hard nosed drill sergeant and according to the story, screamed every day as a profession and one day had the awakening and said, I'm not going to scream ever again and went and became this fabled, you know, painter of the seventies in the softest voice ever. Yes, that's a vignette. So. But check out the podcast if you want to learn more about it. So Gabrielle, what about. I've heard particularly when it comes to husbands, is that a husband, when a wife is starting a business, but he's actually really kind of supporting, at least financially, that they can become maybe verbal supporters, but really emotional detractors like he thinks you're actually taking away. Did you experience that at all?

I am so lucky that I did not. My husband is. In fact, I will attribute the fact that I have even made half of this journey to him. He was the one who said, yeah, you can open your own business. He was the one who said, yeah, you can hire a contractor to see your extra people when I got too full, you know, in 2010. Yeah, you should, yes, you should do this business coaching program. I Yeah, I feel really, really lucky and blessed.

Wow, that's great.

Did he ever give you guidance to saying, hey, Gabrielle, I think you should really avoid xyz?

Yeah. No. He has opinions about stuff. And the dynamic that comes up is I actually feel like he's much better at being an entrepreneur than I am. And so that it's like, well, this is mine, so go away.

Obviously, I don't know anything about your husband or your practice much, but I would challenge that he's the better entrepreneur. It sounds like you're pretty phenomenal. It sounds like you weren't doing numbers in the way you were traditionally trained, but you found a new system. I'm happy with profit first. We found a new system that naturally flowed with you. And it sounds like business is on a nice uptick, big time.

It really is. We've been growing. And, you know, it's funny because without my knowing how to do any of this, I had essentially, like, an average of 20 to 25% growth every year. So, like. And that's with me not knowing what. And so that's been good. But now that I know what I'm doing, yeah, I feel like, okay, let's ramp this up now.

So let me ask you some pointy questions. I just did a presentation on profit first yesterday or two days ago in Vegas, and someone comes up to me and says, I can do this on a spreadsheet. I don't need to set up bank accounts. What's your thoughts around that?

Oh, hell no.

Why is that? Why can't you do a spreadsheet?

I'm thinking of your little clip.

I know. That's it.

Yeah, play it, Mike, play it.

Oh, that's right. Yeah, here it is. Oh, hell no. I gotta be a little faster with that. Yeah. Let me try it one more time. Can you do this on a spreadsheet? Oh, hey, why not, Gabrielle?

Because here's the thing. You have written this in the book so nicely. It. When it's not separated physically, it's not separated emotionally or mentally.

Like Bazinga. Yeah, yeah, Now I'm on it.

All right, you're on it. Now, seriously, the thing that you know, the whole methodology of profit first, and this is like, I'm going to just toot your horn for a second here, because this is like a gift that I feel like you have given all of us. People who don't have a clue about money is or didn't before you wrote this book is it has to be separate, because then it is like, right, That's Perfectly said. It works with human nature. And you say that and it. I. I have found it to be 100% true.

Yeah.

Now I will say it has taken me dealing with Kathy to not be so flexible. Flexible and sort of loosey goosey, you know, like, I don't have enough over here, so let me just move it, you know, and that's an intermediary step and you have to think about it. So that's good in some ways. And. But you know, it takes. For me, it has taken that other person saying, no, no, if this was actually, this was new for me. One month I had a credit card bill, my amex bill was. Was too high for me to pay it out of my OPEX account. And I said, well, let's just use some of my owner's comp to pay for it. And Kathy said, no, I'm putting you on a payment plan. This is how much you have in your OPEX account. You pay yourself, and we're going to work it this way.

That's amazing.

Ever done that?

Wow. She said, like, almost like a best friend, like holding you accountable to your commitment. I love it. So here's another thing I get from people is. But you know, if you do this, Gabrielle, you can't grow. I'm reinvesting all my money in the business. I want to grow my practice. What's your experience with growth now? You're taking your profit first and you're paying yourself and your business, paying your taxes. And there's so much money going out of the business for that you can't grow.

Are you setting up here?

Totally.

Oh, my God. No, seriously, like, paying my taxes, like, without having to think about it. That's amazing. That's such a good feeling. So that, I mean, and you get. You work in. I know you did this on purpose. You, like, work in these dopamine hits, right? Where you, like, exactly every quarter. And I get to. You know, I went to New York with my girlfriends last year after my. Whatever. I can't remember which distribution it was, but I went on a profit. Distribution. It was super fun.

That is awesome.

It's great.

Perfect, emotionally. You could have done that on your amex cards, Right? Or you could have done it with the company paying for it for cash. What's the difference?

The difference is it's mine and that's what it's for.

Yeah, yeah.

And. And, and it's in its own account. Again, back to your idea. Like, can it just be on a spreadsheet? No, because I would have been like, oh, but this is not looking so good over here. No, no, that's mine. I take it on the. I take it when I take it. And it's for play.

No stress attached, then?

Or guilt or shame.

No guilt, no shame, no stress attached because you own that.

That's.

That's yours. It's ready to go.

Do you feel. Were you more, to Amy's point, were you more present? Were you more there with your friends on that trip than you would have been?

Yeah, I wasn't worried about the money I was spending because I knew I had it to spend.

Did your friends know?

Great purse, actually.

Did you get a Louis Vuitton?

No, I got it at century 21.

Okay. All right. My wife got a Louis Vuitton. She was saving up for years for this. So my wife is a basically professional jurist. She's on a grand jury for. She's approaching over a year and a half now. And, you know, you don't get paid well. We get 75 bucks. 75 bucks times 70 weeks or 80 weeks. It piles up to real money.

Yeah.

So she.

Boy leaves.

That was her dream. That was her dream purse. Very good.

Yeah. Lv. And then I. I called it. I call it, by the way, I call it a Louis Baton. And she said, no, which is like, supposedly your shoes or something.

Oh, you're thinking of the red heels.

Yeah.

Louboutin.

Louboutin, yeah. Oh, yeah. So I mixed up the D. So, Gabrielle, though, the point is growth. You're taking this money, you're going on a wonderful trip with your friends. The business paid for it. That's what's supposed to happen. But didn't that slow down the growth of your business? Has your business grown slower or faster or the same since implementing profit first?

I feel like it has grown the same or more like I feel like there's a plan. It has not grown slow, more slowly? No, absolutely not.

So that's totally. I get it. But it's totally counterintuitive to logic. If you don't have money to put into your business to grow it, how can it be growing as fast with less money for the business?

Growing in my means? Yeah. I mean, like, I just. Yeah. I don't know. It just makes it. It just is making sense. I'm. I. I spend what I can spend. I'm doing what I can do. I'm focused on, like, getting leaner. And it's not. It's not about doing more with less. That's not it. But it's like, it's more targeted. It's more directed awareness. Yeah, it makes more sense.

Are you. Have you been forced to cut corners? You can't provide as good as a service?

No, no.

Have you. I'm just wondering, maybe advertising. Have you. Have you had to cut advertising or something like that?

No.

That's awesome.

I've been able to do everything that I was doing before and then understand how it's working and what I need to do if I want to expand more.

Can you even now, looking back on how you're running your business prior to profit first, can you even visualize where that money was going? How. How it could have evaporated so quickly?

No. I mean, that's. That's really the thing, right? It's like it all just sort of goes in there and you kind of. I was kind of like, okay, well, maybe I could do this. Okay, now I'll do this. Now that money's gone, it's not coming back. I didn't really understand what it was for or why I was spending it in that manner. Yeah, like, you know, Kathy again, back to Kathy, because she's amazing. I have a book that's coming out hopefully by the end of the year.

Awesome. What's the name of that book?

The working title is the Gift of Speech. It's basically like a how to for parents on, like, how to get speech therapy. What's involved, what they need to be looking for? Just sort of information that I find is not out there in one place.

That's great.

Super excited about that. But for example, when I told Kathy that that's what I wanted to do, she said, okay, well, you're gonna need some money for an editor and a designer and this kind of stuff. So we allocated that. So is paid for.

So you're paying for a cost you haven't even incurred yet, meaning you're reserving for it.

Exactly. That's great.

Did you set up an account for it? Another account?

No, we put it in the opex.

Okay. How many accounts do you have right now in your business?

I have the five core accounts. I do not yet have the vault account. And we're talking about how to do this for next summer so that we can have those low months. I think we're still sort of tweaking out what months are going to be low and how much do we need in order to get through those.

I got you. She's helping you with a strategy to carry. We're recording this in October, but this will go live, I think, in January or February. So Some are still even from the go Live day is a ways out. You are working on a strategy to kind of drip money out into the business over the summer. Is that what Kathy's doing with you?

Yes, basically right. Where we will have reserves to supplement whatever's not coming in in the lean months such that, you know, I don't have to that we can cover everything.

What's your husband's perception been? Maybe he doesn't know the inner workings or maybe he does of what's going on with how you're managing money now. Has he ever said like you've changed your confidence? I don't know. Have you. Has he observed anything about you?

Yeah, you know, so he. I got Profit first first and then he read it. He actually has like a side hustle and so he set up his five bank accounts. Even though there's like fifteen hundred dollars in there, he set his up. So we are a profit first family. And so. So yeah, no, he's absolutely sees and has mentioned like, you know, you're really working this like you're confident. You are rocking this. This is. He's my husband is amazing.

And I don't know if this is required required or if it's a law, but now that you're both doing Profit first, your next child needs to be named Prophet first. You have to name. Yeah, I mean it's a little awkward but you know, it's law. So.

We were thinking of maybe Fat Daddy Fat back.

Oh yes, I love it. Have you been to the Fat Daddy Fatback website yet?

I have not yet been to the website.

When you get a chance, give that a little Google. Tell me if you like. It's my Eminem rendition as best I can.

Okay, fair enough.

So what can you suggest to. People are listening in now. Maybe they've struggled with Profit first. Maybe they were in your position. They've read the book but aren't doing it. I know you know do it but can you give them some practical guidance.

To actually pulling off successfully up the accounts. Schedule three hours if you think it's going to take that long. Even if you don't schedule yourself a morning or an afternoon, go to the bank, write the print out the script from Profit first about. I know you're going to look at me cross eyed but this is what I want and sit there while they do it for you. When I the day I did that was the day I started doing everything that followed. And don't wait to start with the bank accounts. That is I feel like the first Reading a book is all is fine. You need to do that, but then you got to take action.

Right? Well, there's only one more thing to do it. There's only one more thing. Yeah, just do it right. There's only one more thing to do. I think this comes from the speech therapy training. They call it scream therapy, where you release. I think it's appropriate for you to scream that I'm permanently profitable. But you got it. Like, I can't have one of these. Like, I'm permanently profitable. I need, like, a good proud of yourself release. As uncomfortable as it is, you gotta do it.

All right, you ready?

Yeah. Are you ready?

I'm ready.

Do it.

All right.

I'm permanently profitable.

That was good. I'm so proud of you, Gabrielle. Thank you so much for joining us today. Hang tight. We have some stuff we want to discuss with you off air, but thanks for joining us. Oh, and before we let you go, by the way, tell us where any listeners in. There's parents out there that need the services you provide. Where can they learn more about you and your business?

Yes. Thank you. I'm going to give you the website, which is www.speechkids. all one word, speechkids.com. and I'm actually going to have a freebie for listeners to the podcast. So you can find that@speechkids.com profit.

Okay, so you're running that down. We'll put that in the show link. So speechkids.com profit get a little special gift. That's awesome. And thank you for providing such an important service. I actually went through what's called oral graphics when I was a kid because I struggled with speech and dyslexia. So thank you for. You're doing it. It is a powerful, impactful thing. It has a permanent impact.

Yes.

All right. Go make some money. All right, all right. All right, listeners, we're gonna. We got a lot of stuff to cover. We got some mail and stuff like that. We wanna know what you thought about this episode too. But first, I wanna thank our corporate partners, this show. Thanks Bob for doing the head swing. Kelsey goes by Bob now. Um, I want to thank our corporate partners, so. Oh, you put the beard back on. Thank you. Kelsey slipped the beard back on. So I Want to thank Nextiva VoiceOver IP phone system. You know, we're talking about speech therapy. I'll tell you, you can be perfect in your enunciation and ability to communicate, but if you have a bad phone system, it ruins everything. You're on the phone and it's cutting in and out. You just want to give up on the person.

Terrible now.

Thanks, diva. And as a voice over IP phone system, it's extremely reliable and it's extremely affordable. Check them out next. Tiva.com. and then there's Receipt Bank. All those receipts that you're accumulating, you should be scanning in and automating the process of getting those tied into your accounting system. But how are you going to do it? Well, with Receipt bank. So go to receiptbank.com. check them out. We use them in house and are big fans. Actually, every company we refer, we use in house. So we didn't use right Networks when they were a sponsor because we were using Google cloud. I want to use right networks now. I just wanted to point that out. All right, I think we're doing the. What'd you learn today? Let's hit the button here. Let's do three of us. Let's all do it together. Amy. Ready? Here we go. In 3, 2, 1.

So what you learned today, beautiful chorus.

I held. What do they call that?

Vibrato. Yeah. You had it. You had it to shake your entire.

Body to create it.

How do you do it, I ask you? Let me see. You do for your product. Let me see with your big. Not bad.

No, you can't. It's like your big old beard.

So, Amy, takeaway?

Yeah. What's your takeaway?

I love that she. She went out and found the person who supplements your gift. I love that, that it's good to. I know that I tend to just think it's all on me. It's all on me. But that's so smart. You got to go out and find the help you need to get you where you want to go. And there's no shame in that microphone there. Sorry.

That's all right. You know, you grew. Today we have our morning meeting every Thursday. Today happens to be a Wednesday, but every Thursday. And you are having thoughts about the work you've been.

It's actually on Tuesdays.

Tuesdays, but.

Oh, it's on Tuesdays. Yes. I don't wonder. I missed the freaking meeting all the time. Every Thursday. I'm pissed at both of you. I'm like, amy doesn't even come to the office. Where the hell is. I'm so every day I'm like, where the hell's Amy? We have a freaking meeting. You're right. It's Tuesdays. But you said that this new job, helping with scheduling, which is a very complicated process.

It's hell.

It's hell.

It's hell.

It's hell that you're like, I don't want to come work.

I hate it.

But you've taken ownership over.

I am. I'm just sitting in it. I'm sitting in the discomfort of it. Like she did when she said she was learning, like, she's not a numbers person and that this is not business. It's not. That's not what she was in this for. That is. I can relate to that so well. But, yeah, just getting used to it and getting comfortable with it, even though you're not comfortable with it, but it just takes time.

That, and that was my takeaway, is the fact that you can. I asked her, I said, oh, like, you know, was there a perception because you're a woman, you don't get it type thing? She said, no, no, it was on me. Yeah, it was on me. And she went through the pain. What was your takeaway?

Yeah, I just love that. I feel like this system empowered her to be the entrepreneur that she was meant to be.

I can barely look at you. Your beard is starting to curlicue at the bottom.

She just said something so great, and he's laughing.

I can't help it.

Snarkling.

Her mustache is in her mouth and the beard is curling back up. I'm so sorry.

No, but for reals.

For reals.

I just. I think it's so critical that she told herself that she wasn't an entrepreneur. And just by implementing this, she realized that she was all along. You know what I mean? It's just she didn't have the tools to do it in a way that was aligned with her, that made sense to her. But she was a numbers person. She is a numbers person.

That's the irony. Right?

Right.

I mean, she sounds like she's an.

Extraordinary numbers person, and I think that's the message to everybody. Don't limit yourself to what you think that you can do, because what you've previously seen doesn't seem to make sense.

To you yet, you know, yet there's the keyword.

So I do this experiment with memory. Ever think about your own memory? Do you have bad memory?

I have horrible, horrible memory.

So I'm going to do something. I'll show you. Maybe in another episode. We'll do this. I'll prove. Yeah, mnemonics. I'll prove you're just using a bad memory system. I bet you have such good memory, it'll blow your own mind away.

I would love that, because there was a time when I was in a statistics course in College where the professor. I don't really know how this. What this had to do with anything, but he had this rolling meter, and it had four digits on it, and the numbers would keep changing and. And he wasn't going to let us leave until we predict the next. I didn't get released. I had to wait until the poor man had to leave for his next class some other place on campus. Like, my memory is so bad I could not come up with a mnemonic to get those numbers memorized so I could leave the class that day. I am so, so.

Dude, I will blow away your mind.

Okay, good.

Okay, so we also want to know what you learned. Share with us, Kelsey. Did we do the shout out? Did I miss the shout out?

No, we don't have a shout out, but we do have a listener. Mail. It was a repeat. Oh, okay, so this comes from Chad Auer. I'll say.

He says, hi, Mike, I've got mail pattern Baldness delayed. Yeah, delayed.

How and where do you recommend I go about making my monthly tithe from? In the past, it was easy for me to simply subtract from my monthly business expenses from my total monthly business income to determine what my net income was for the month, and then I would send the 10% of that to charity. It's not as clear to me now how I should go about determining this and or from what account I should do it from.

So what's the thing in a desk, Kelsey, that you pull open?

Stop. A draw. It's a draw.

It's not a draw. What's the word? No, not drawing. Like that thing you pull over.

It is a draw. It's a draw.

It's a what? A draw.

Not a draw. The thing you open with the er at the end. I was listening to that episode we did words you can't pronounce. And her word is drawer. I love it. She can't say it, so. All right. Oh, my God. I don't know why I had to do that. Just say it came to me.

It's totally not related.

No, it's totally related. Well, you store money in a drawer. It's totally not related, so it's not related at all. I just remember you couldn't say that word. Paybacks for effervescence. All right.

Or a Grotius, first of all.

Was a Grotius. You ever heard of it? It's atrocious and outrageous together. It's a Grotius. What was that noise? What was that? All right. Oh, this show. So here's the deal. Here's what you want to do with tithing. Tithing does not come from the company's income. So say thousand dollars comes into your income account. A company doesn't necessarily tithe. The owner tithes out of your own pay. So whatever money goes to the owner's pay. Say you take 20% of that money. So $1,000 comes in. 20% is $200 goes to owner's pay. Take 10%. That's what tithing is typically. 10% to give to your religious affiliation. You take that 10% out of your owner's pay, give it to your church or temple or whoever you can mosque, and then the remainder stays with you. That's how you do it.

Beautiful.

And just keep that money in the drawer, drawer, drawer. Oh, gosh. Anything else we got?

That's it.

All right, Kels, take us out.

Please leave us a comment or rating or review on whatever podcast you're listening to. Itunes, Stitcher, tunein radio, iheartradio anywhere. And then just take a screenshot and send it to me Kelseykemikalowitz.com and we'll send you a Mike Michalowicz book.

Yeah. So you heard us. Like, we didn't realize the importance of. Of reviews and subscriptions. So please do subscribe. Give us a review. We'd be honored. And we want to send you a copy of the book, any book you actually choose that I've written. And also go to mike motorbike.com. that's my website. Mike McCallowicz is the full one, but mikemotorbike.com is a shortcut to get there. Check out. We got Serge offered for free right now, so you can sign up and get that totally for free.

Do it.

Awesome. Do it now. And plus, we got some special program we just finished up. Paul, our newest employee, is helping us roll out a new program that teaches a new model called the ascension model. That's exciting.

Very exciting.

All right. Are we good?

We're good.

We're good. You good, aim?

Yeah, we're good.

All right, let's get out of here.

Did I mess it up?

Let's get out of here.

Get out of here. Trying killers.

Can I?

Oh, you guys are such good friends. Oh, hell. That daddy fat back.

Do it.

That daddy fat back.