Daniel hit his breaking point. He decided it was time to clean house.
Have you been there? You reach a point of frustration where you can’t take it any more? It’s the “If you don’t pick up these toys they’re going in the garbage” moment (followed by aggressively walking around with a black trash bag).
That was Daniel. He had e-freakin’-nough with money problems.
Daniel ran a small business that was growing quickly in revenue. He had a handful of high quality employees and a nice downtown office space. From the outside, it seemed like he was living the good life.
So then… what led Daniel to schedule a call with me?
“I barely have enough cash to get me through the end of each month,” he half-whispered, almost afraid the world would hear him.
“There are literally nights where payroll is due the next morning and the money isn’t in the account. I can’t take it much longer.”
I looked at him and asked him to give me one word to describe how he’s feeling.
His answer? “Frustrated.”
Quickly we jumped at the root of the word. What exactly does frustration mean?
To feel upset or annoyed, especially because of inability to change something.
I looked at him and smiled. “I have some good news. Your frustration ends today, because you do have the ability to change something.”
I can’t even begin to count how many times I felt stuck, or frustrated, just like Daniel. And worse, I felt like there was nothing I could do about it.
But how many times am I upset about something that I actually can change?
What if I stopped and found the different options to create change?
With Daniel, we dug into his numbers. And he wasn’t lying- he was spending about 80% of his revenue on expenses.
One of the biggest expenses was that beautiful office suite downtown. The one with the view. The one that he touted like an Armani suit.
But like I said, Daniel hit a breaking point. He realized as much as he loved the office, the nature of his company could be done online. His staff could work remotely. The office was an unnecessary expense that he couldn’t afford.
With his lease ending in a couple months, he took steps to pivot to a remote company.
Scary? You betcha. This was pre-Covid, before going remote was cool.
But the results were worth it. That cut led to other cuts. He implemented the Profit First system into his business. He completely changed how his business ran, and today he’s more profitable than ever.
He has cash reserves so payroll is never a concern. He pays himself regularly, plus quarterly profit bonuses.
If you’re feeling frustrated, let’s see if there’s an opportunity for change. Schedule a free coaching call with me.