Small Business Big Money™ – Details, episodes & analysis

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Episode Synopsis

In this conversation, Gina Knox discusses the complexities of managing debt and the emotional challenges that often accompany financial decisions. She emphasizes that overcoming debt requires not just mathematical skills but also addressing the emotional barriers that prevent individuals from seeking help and making sound financial choices.

Keywords: debt management, financial coaching, emotional finance, money mindset, budgeting, personal finance

Register for my FREE debt class for entrepreneurs: https://ginaknox.co/free-training 

Join Small Business Money School: https://ginaknox.co/school 

Episode Synopsis

In this conversation, Gina Knox uses the leaky bucket analogy to illustrate the challenges businesses face in achieving profitability. She emphasizes the importance of identifying and addressing the 'holes' in a business that drain resources and hinder growth. By plugging these holes, entrepreneurs can create a more sustainable and profitable business model, allowing for creativity and strategic thinking to flourish.

Keywords: business, profit, financial health, entrepreneurship, money management, business strategy, growth, mental capacity, creativity, wealth mindset, money mindset

Register for my FREE debt class for entrepreneurs: https://ginaknox.co/masterclass-ad 

Join Small Business Money School: https://ginaknox.co/school 

Join the waitlist for the 7 Figure Wealth Mastermind: https://ginaknox.co/mastermind 

In this episode, Gina Knox interviews Cathy Yerges, a cafe and specialty food store owner from Cambridge, Wisconsin. Cathy shares her journey of starting her business just before the COVID-19 pandemic and the challenges she faced, including navigating debt and the need to pivot her business model. She discusses the importance of community support, the lessons learned from joining Small Business Money School, and how she has shifted her focus to new revenue streams, including opening a bookstore. Cathy emphasizes the value of vulnerability and community in overcoming business challenges and shares her excitement about future growth and stability.

00:00 - Introduction to Cathy Yerges and Her Business Journey
05:16 - Navigating COVID Debt and Financial Challenges
22:23 - Embracing Change and Letting Go
23:37 - Paying Off Debt and Financial Freedom
26:30 - Inventory Management and Cash Flow Strategies
32:11 - Navigating Emotional Challenges in Business
33:51 - The Importance of Community and Support
36:10 - Realities Behind Business Success
39:31 - Taking Control of Your Business Journey

Cathy Yerges is a leader with a servant's heart, believing collaboration beats competition every time. She embraces the philosophy that ""it takes a village"" to create meaningful change and transform neighbors into friends. With a background in banking and finance, Cathy is passionate about revitalizing Main Street and rural living through community building.

Cathy owns Cambridge Market, a cafe and specialty food store, and recently opened Mustard Seed Books, creating gathering places where people break bread, share conversation, and support local makers. Her work focuses on promoting collective well-being and strengthening community bonds through simple acts of coming together and celebrating local talent.

She also serves as Executive Director and co-founder of Collaborative 523, Inc., driving community development initiatives throughout Cambridge, Wisconsin.

Website: https://www.cambridgemarket.net 
Facebook: https://www.facebook.com/cambridgemarket 
Instagram: https://www.instagram.com/cambridge_market/ 

Category: Entrepreneurship

Keywords: small business, COVID-19, COVID debt, financial challenges, community support, entrepreneurship, business coaching, debt management, revenue streams, local business, business growth, merchant financing, square loan, small business loan, inventory management

In this conversation, Gina Knox and Heather Hammell discuss the importance of celebrating savings, the impact of mindset on money, and the challenges faced by MFR therapists in the industry. They also explore the need for a success squad and the ever-present need for mindset work at every level of business growth. The conversation highlights the power of dreaming and collaboration, as well as the importance of making decisions from a place of empowerment and confidence. In this conversation, Gina and Heather discuss the flexibility and inclusivity of the 6 Figure Saver program, emphasizing that anyone can benefit from it regardless of their income level or occupation. They highlight the importance of coaching at every level and how everyone's fears and questions are similar. The conversation also explores the journey of weight loss and savings, the concept of starting over and building skills, and the pop back up effect of savings. They discuss the transformation and proof that can be achieved through the program and the impact it can have on communities and quality of life. Finally, they touch on the role of money mindset in coaching and the importance of overcoming money anxiety to be a better coach or business owner.

Heather helps John Barnes-trained therapists create rockin' MFR Practices, become leaders in their field, improve personal relationships, and love their lives even more. With her guidance, she has helped her MFR clients create 6 figure businesses seeing less than 20 clients per week, have thriving lives, and take 6 weeks off a year.

Website: https://themfrcoach.com/

Podcast: https://podcasts.apple.com/us/podcast/the-mfr-coachs-podcast-w-heather-hammell-life/id1559611229

Instagram: https://www.instagram.com/themfrcoach/

In this episode, Gina Knox discusses the possibility of saving 10K in 30 days and provides three key steps to achieve this goal. She introduces the concept of the cashflow waterfall tool, which is a cashflow management strategy designed for entrepreneurs with variable income. Gina emphasizes the importance of having a savings process in place and creating a spending plan that includes savings as a priority. She also highlights the need to eliminate money blocking thoughts that hinder earning potential. Gina encourages listeners to join her 6 Figure Saver program for additional support and resources.

In this conversation, Maddie Pashong, a brand photographer and coach, shares her experience with the 6 Figure Saver program and how it has transformed her financial mindset and practices. Maddie discusses the importance of brand photography in today's gig economy and the need for personal branding. She highlights the impact of creating a spending plan and being intentional with money decisions. Maddie also emphasizes the significance of paying oneself a living wage and having open communication with a spouse about finances. She shares insights on handling client droughts and panic, as well as the benefits of addressing seasonality in business.

Maddie Peschong is a branding photographer and coach who is obsessed with teaching creative entrepreneurs how to build a profitable business by being themselves. Through coaching, digital products, and personal branding photos, she helps women discover their magic so they can stand out in a saturated market, confidently scale their income without trading more time for money, and do only work they love. She is the creator of the Rebrand group coaching program for brand photographers, host of the Take it Personally Podcast, and founder of the White Space Studio in Sioux Falls, SD, a place where creatives can design, dream, and collaborate while developing their own irresistible brands.

Website: https://www.maddiepeschong.com/shotlist 

Instagram: https://www.instagram.com/maddiepeschong/ 

In this episode, Gina Knox emphasizes the importance of saving in business. She highlights that sales alone cannot sustain a business and that saving is a core skill for success. Gina discusses the reality of inconsistent income in business and how it is normal even for successful businesses. She explains the need for business savings to navigate low cash months and avoid financial stress. Gina shares her personal experience of using savings to maintain stability and scale her business. She invites listeners to join her masterclass on saving and cashflow management.

In this podcast episode, Gina Knox discusses three strategies to save $10,000 in 30 days. She emphasizes that these strategies are applicable to everyone, regardless of income level. The first strategy is to view inconsistent income as a superpower and learn how to harness it for savings. The second strategy is to break free from the debt cycle and use debt as a tool for savings. The third strategy is to implement the cashflow waterfall tool, a simple cashflow management system that requires three bank accounts. Knox invites listeners to join her upcoming masterclass for a more in-depth exploration of these strategies.

Evie Preta shares her experience as a salary negotiation coach and her journey in 6 Figure Saver. She discusses the impact of salary negotiation and how it can lead to life-changing money. Evie provides tips on negotiating money in general, emphasizing the importance of understanding the value you bring to the table and adopting a collaborative mindset. She explains why she joined 6 Figure Saver and how it has helped her save $9,000 in just two months. Evie also discusses her goals and the importance of specificity in achieving them.

Evie is a salary negotiation coach helping women overcome self-doubt while building strategy and confidence to slay their salary negotiations. She is a first-gen college graduate, Latina, entrepreneur, podcaster and space rocket engineer. She works with people who desire to break generational curses by teaching them how to advocate for themselves in salary negotiations. Evie is the founder of the Self-Worth Accelerator and Host of Págame Podcast. She’s helped her clients secure over $578,000 in salary increases and can’t wait to continue to help more women negotiate their salaries.

Website: https://lamalamujer.com/ 

Podcast: https://www.buzzsprout.com/2306187 

Instagram: https://www.instagram.com/lamalamujerblog/ 

In this episode, I dive into dealing with failed payments, flopped launches, refund requests, and other financial setbacks in business. I share my personal experiences with these challenges and how having savings has allowed me to navigate them without fear or stress.

I emphasize the importance of being financially prepared for these situations and reveal the big secret to overcoming the fear: having savings. When you have a substantial amount of money saved, failed payments, refund requests, and flopped launches become minor inconveniences rather than major setbacks.

I discuss how I handle failed payments in my business, highlighting the systems I have in place to manage them effectively. I also share my mindset of assuming best intent and offering assistance to clients who experience payment issues. Even in rare cases where a client fails to rectify the payment problem and has to be removed from the program, I remain unbothered because I never relied on that payment to cover my expenses.

Drawing from personal experiences, I explain how having savings allowed me to refund and let go of a client who was not a good fit, without financial worry. I also discuss how having cash reserves has protected me during flopped launches, preventing me from spiraling out and enabling me to quickly replace clients who may not have been the right fit.

I emphasize that these financial challenges are inevitable in business, but with proper savings, they no longer have to cause panic or disrupt your financial management. I debunk the misconception that saving is harder for business owners with variable income and invite listeners to join me in a free masterclass called "Save $10K in 30 Days" to learn practical strategies for saving money in their businesses.

Overall, this episode aims to empower entrepreneurs to overcome their fear of financial setbacks by building savings and adopting a calm, problem-solving mindset. By doing so, they can navigate failed payments, flopped launches, and refund requests with ease and continue to thrive in their businesses.