Profit Strategies & Data-Driven Growth with Fractional CFO Monica Roca-Quesada

0:00 Right, You work more, you're putting in sweat equity, you're willing to do whatever it takes. And at the end of the day, if you truly don't have an understanding of what's happening in your business, then did you make the right choice, right? Or how can you maximize the decisions that you've made? Look at it from, and it's not just because one of the things I've, you know, I've often been quoted to say is I want people to stop looking at top line revenue. I mean, truthfully, does it matter if you sold $3,000,000, you have no profitability.

0:29 Like is that did we lose? I'll give you I'll give you this line revenue is vanity, profit to sanity and cash is going. Yes, yes, I feel like a lot of business owners trade their their jobs for a less paying job as a business owner, right? You work more, you're putting in sweat equity, you're willing to do whatever it takes. And at the end of the day, if you truly don't have an understanding of what's happening in your business, then did you make the right choice, right? Or how can you maximize the decisions that you've made, right?

1:07 Welcome to The Kingdom's podcast, where we share the stories of extraordinary people and dissect hot, relevant topics that shape our world. From visionary leaders to trailblazing creatives, we uncover the mindset, strategy, and grit behind greatness. Whether it's business, culture, or personal growth, we ask the real questions.

1:26 This isn't just conversation, it's transformation. The Kingdom's podcast, Your Next Breakthrough, starts here. Music licensing reimagined. Your live ladies and gentlemen, you are once again welcome to the King James podcast and today I have with me my friend, my mentor and a female version of myself from the other side of the pond.

1:52 Make welcome the money woman moniker rocker Cassander. How are you I'm. Doing fantastic today. I'm so glad to be here. I like that the money woman I'm I think I'm going to change my my title, my emails. Wow, Monica is about to change harmonica. Yeah, that's the model MONICKER. Wow. It's just that it's it's really lovely to to to have you on the show. I'm a newly minted fractional CFO. And you are, would I say, an oldly minted CFO, a leader, fintech leader, you know, entrepreneur extraordinaire. Wow.

2:33 You're welcome. And of course, you know, on this show, I, I do a great work with exploring the mindsets, the systems, and, you know, the stories behind legendary leaders like yourself and of course, bold entrepreneurs, people that are reshaping the landscape off our generation basically. And today you are actually forced in the financial strategy and fintech space and you are the incredible moniker whose moniker is about to change. Rocco Quesada.

3:08 You know, before we dive in, what's the song? A quote or mantra that perfectly sums up your approach of business and life. Oh, definitely, I would have to say a song would be beautiful day by YouTube, right? And how it explores the duality of life, you know, and really the duality of business, right, of how I think there's everything can be OK and and not right.

3:31 And how you have to keep your pulse on not just what's happening in the day-to-day, but also on where you're headed, right? And that's our role as a fractional CFOs, right? Like we're, we're really talking about the strategy of where we want to take our business, where do we want to end up, right, being forward facing and how you know, and the change of political environments and the change of economies and the change of technology, right advancements and things like that.

4:00 Like how do you stay so forward facing? Like what are the things you need to do in order to stay on top? You know, it starts on the mind, you say, you talked about beautiful day. Interestingly, it's actually a beautiful day in Miami, FL and a beautiful day in London, England. What a fantastic when I say phenomenon, you know, in terms of the climates, in terms of the weather, but also everything begins with the mindset. Our Christian man of faith and the Bible says as a man think gets in his heart, so is he.

4:35 You know, the mind is the world's most powerful tool when we come to think about it. You know, your mindset actually informs you your philosophies. And there's something I always see on the show conceive, believe achieved. But on my birthday 2 weeks ago, I think I, I did a little tweak to that, you know, conceive, believe, strive to thrive and achieve. You know, you need to put in that work. And this weekend of people who are putting that work, you are a big example and you're also paying it forward. So what inspired your transition from traditional accounts into Common, a fractional CFO and fintech entrepreneur? Well, that's such an interesting story. So for me, I've always liked,

5:22 and I think most accountants by trade will say that, right? They've always liked structure, routine, knowing right, predictability. And so I was fortunate enough to get my, my career started in what I would say is the best form of accounting, which is operations accounting. I've always loved to see how things work and how it relates to the finance of a company, right?

5:47 And so I started my career very young. I was probably 24 years old and I was managing a department for a major cruise line in operations accounting. It was the most intense and still to this day probably one of the things I look back on with the most pride in my career. Even though I've owned my own business and I've owned multiple businesses over the last few years, but I've I've had agile planners now for we're going into our 12th year. Wow, congratulations.

6:18 Thank you, thank you. And I, I look back on that time and I think the, it was for me accounting, well, finance and accounting when it's intertwined with operations, even something like e-commerce. e-commerce is like a puzzle. And it's like, how do you get the pieces to flow together? There's so many different moving parts and they're all moving at the speed of light. Like when you think about a floating hotel, right? How many transactions are going through a point of sale system at any given time?

6:45 Or I think about being in a major convenience store and how many times you hear the register being scanned at the same time, right? Like those are all multiple transactions. When you think about that neurological base of transactions happening and how do you put them all together? That's always been something that I that I find mesmerizing, right?

7:05 Like how do we? So many moving variables. Yeah, no, like how do you, how do you break that information into by the hour, by the day, by the week, by the month, by the year, right. Like and how can the data, Yeah, how can you use the data to structure where you want to go, right. Not just, I think one of the bigger challenges in the accounting world is there's, there's so many different, you have so many different needs, right? Like you definitely need having a bookkeeper in the day-to-day and, and dealing with what's happening now. But your tax professional may be working on either what's going to happen in the future or what already happened in the past, right?

7:44 But who's really looking at where you want to go, right? Like what is the strategy to get there? I work with some amazing business owners and it's always, it's always interesting to me to see how they consolidate their data, right? Like they'll always bring out a spreadsheet of like, I'm exporting from here and I create this table and I do this right. And what I, what I love about the fintech industry is how we're building tools to accommodate that, right? Exactly.

8:17 Literally building tools to be able to take that data and make it usable not just in accounting and finance, but in operations and logistics, in all different parts. Even in HR, right, We can look at what is happening with the data points to figure out where we want to go. You know, basically data is the heart of communication.

8:45 You know, if you're giving me information to process, right? I process information in order to make well informed decisions. And the ABC of communication is a accurate, a brief and be concise. If you're able to achieve those, then you're having efficient communication. And that is exactly, you know, what persons like yourself who are able to leverage on technology, leverage on AI, leverage on dates are solutions, you know, leverage on ERP's, you know, relevant ERP's to ensure that organizations actually do not spend or waste time and resources on needless, you know, computing, needless data processing and needless systems.

9:44 Right. I think with that C right, with being concise, we also need to be curious, right? Curious as to finding ways that may work better, finding ways that are more efficient, right? Like so we went from an age of only having certain systems that we would be able to connect to, to. I remember I want to say back in maybe 2010, it was like the average business had maybe six to seven applications they were using right now if you were to look at some companies tech stocks, right, like what is in there, how are they running the business, right?

10:21 And there's definitely, there can be overlap. They're all serve a purpose. But I think the key part is to be curious as to how to maximize the data and how to maximize how we're presenting it, right? Are we making better decisions based on the data that we're extracting from these systems, right? I think we have to be very open minded when it comes to looking at the, you know, I, I and working with, with certain businesses, you realize that we're in a different generational era, right, where you will still have business owners that are very much like, this is the way we've always done it and this is the way we're going to continue to do it, right.

11:11 Now. We also have we've always done it this way, but is there a better way, right? Is there, you know, like can I find the right solution? And I think it's really important that we use our skill set to not only find what it what's already out there, but also to be able to build what's necessary, right?

11:33 Like to use our creative acumen to how we look at numbers to solution, right? And I think that that's really what the role is going to be. It's going to be testing different theories on how we can use the data, like the data, like there's just so much available. You know, I now, it's still one of the things I love most is to break that down, right? And sometimes I would say sometimes the role that we play, right, is to ask the questions of how can we use this data better, right?

12:09 Like trying to think of an example. We, we've worked with companies where something as simple as like monitoring leads, right? Like where are leads coming from? We use this information, we capture the data, but are we utilizing it, right? So you've been putting all this data in your CRM, right?

12:33 And where are the leads coming from? But are you, are you actioning on what that data is telling you? That's the question, right? We see a lot of AD campaign spends we're going to spend more on on doing all of this. But when you look at the raw data, it's really word of mouth referrals, let's say that RB, right, like so what's? That is the most reliable form of marketing. Yeah, well.

13:01 That's the thing, right? Like, I think we've gotten very used to this is what we need to do, but are we using that data? Data junkies. Yeah. We have in decision time, it's just data data junkies. You know you should be processing that data, you know, to make a decision on where to spend more, you know what channel, what funnel, you know to invest more in people just take this data up and why. So like I said previously, data is meant to be collected in order to help you to make better informed decision, right? So if you or not utilizing data to to make better informed decisions, then why are you collating that data? And you know, we still have business owners as well who basically make decisions based

13:53 on hunches and intuitions, right? That's a that's a discussion for another. That is a discussion for another day. But it's such a great way to segue to my next question to you. You know about the biggest misconceptions you know that small businesses have about a CFO and what a CFO does and why do they often wait too long to hire one? So the biggest misconception is that they can't afford one, I think, right.

14:22 I think that would be the, the biggest misconception. I think having a strategist and that's what I would deem, you know, I, I think we use the, the moniker of CFO, right, or the title of CFO because people they know what it means, right? But with it they attach a very high price tag is what they attach to it I often. Now you sounded, now you sounded like Adam from the CFO projects, I mean.

14:49 When, when I tell somebody, right, I almost don't want anybody to introduce me as a CFO, right? Like I almost, I, I truly don't, I, I'd love to be introduced as, as another business owner. I'm just like the person I'm talking to. I'm a business owner. I have the same concerns, right? The difference is that I help businesses make better decisions based on the information that we've collected from their numbers, right?

15:13 Whether you want to put that as a CFO or not, as you know, debatable, but that's really what we're doing right like. I'm gonna put you that other way. You help businesses to mind their business. Yes, very much so. I, I think the question begs to what we were talking about, right? Like when you have your books complete, right and let's say you have years of data, if you're not utilizing that data to make better decisions than what's it there for?

15:40 Right? Like, sure, compliance is one thing, we need to file taxes. There's laws, absolutely, but there's so much information in those numbers that to not use it is it makes it makes no sense, right? Like I, I often talk to business owners that I've been candid and they're like, I'm intimidated. I don't, I don't want to look, I know there's something wrong in my numbers.

15:59 And one of the things I used to say is I make business owners fall in love with their numbers again, right? Wait, there's so much power in knowing what's happening in your day-to-day. There really is you, you get to make better decisions. Like what? What good is it for me to look at my financials from a year ago? It's a plan for now.

16:18 Like I, I don't, you know, I want to know what happened yesterday. I want to know what happened 2 weeks ago. I want to know what happened this week in the business. I want to keep my finger on the pulse, right? So that I can see how I can maximize on that, right? Like how can I take better advantage of what the numbers are telling me?

16:37 That's in a nutshell what we do, right? Look at it from and it's not just because one of the things I've, you know, I've often been quoted to say is I want people to stop looking at top line revenue. I mean, truthfully, does it matter if you sold $3,000,000, you have no profitability. Like is that did we lose?

16:57 I'll give, I'll give you the slide. Revenue is vanity, profits is sanity, and cash is king. Yes, yes, I feel like a lot of business owners trade their jobs for a less paying job as a business owner, right? You work more, you're putting in sweat equity, you're willing to do whatever it takes. And at the end of the day, if you truly don't have an understanding of what's happening in your business, then did you make the right choice, right? Or how can you maximize the decisions that you've made, right?

17:33 Being a business owner, being an entrepreneur is not for everyone. That's exactly right. And I think sometimes it can be underrated of how how difficult it is, right? Like I know for me when I think about my business, it's not just my welfare, but all of the employees that work with us, all of the contractors that are depending on us, right? There's a lot of pressure.

17:56 Wouldn't you want to maximize the information you have at at your fingertips to make better decisions, right? Like when you when you frame it in that way, does it not make sense to have an extra set of eyes to help you think about your long term strategy and your business? Not just an extra set of eyes, but well trained eyes, you know?

18:19 That. Helps you yeah, well trained and well experienced eyes and that's exactly what we are as a factional CF OS. But you know you you have actually said that your business is a machine right? Are you able to do a quick walk through or overview of the 16 parts that drive our profitability and how they work together? And I know you have, you know, what would I call this now a robust resource on this and real quick, how can we share that with the audience?

18:52 Yes, it's actually available on our website. We'll post a link to it in in the. In the description. So yeah, the show notes below. But it's more the best way to explain it, right is when you think I, I'll use the example of a printer. I think a lot of times in businesses, we start a business because we have a passion for something and there is an emotional attachment to it, right?

19:15 Like we obviously it's something we feel very strongly about and we wanted to achieve, but we stop looking at the business for what it is, which is it has a purpose, right? And so to give you an example, it's like a printer, a printer, it has a role, it's going to print. And if it doesn't print, then there's the parts of the business, of the parts of the printer that we need to look at.

19:38 Perhaps I'm out of toner, perhaps there's a piece that needs to be replaced, right? But when you can break down the different parts of the business and how it should work, then you can triage those areas, right? So when we talk about the different drivers, we talk about drivers of, of, right, the drivers of revenue and then the drivers of cash flow.

19:57 Like I think that's something that is least talked about is how healthy is my business, right? If tomorrow there's a crisis of some sort, right? Let's go back to the pandemic where, you know, if you were a hospitality business and you were selling, you know, a restaurant and people couldn't come into your restaurant anymore, right? What?

20:16 What were you going to do and what were your options? Cash flow and profitability are your rainy day bank, right? And it's not we get so caught up in the day-to-day and can I meet my expenses for this month? But what is your plan long term, right? A year from now, three years from now, five years from now, what's your exit plan in your business, right? And if you want to truly look at your business as a machine, right, then you need to be planning for that and you need to plan for you know what, what is my business truly worth, right?

20:50 If I were going to sell my Business Today, it's going to be, it's going to be based on the profitability of the business, right? I mean, you could sell it for parts if you have a great client base, lots of inventory, right? But if you want to sell it as a whole, then you have to make sure that it's healthy enough and that it's profitable and that there's cash flow, right? And those are the things that get overlooked, you know, particularly in a small business and in startup business. Exactly like no controls and management override of controls where where the controls even exist. It's it's quite a very, very interesting terrain, but how should businesses approach financial forecasting in today's uncertain economy?

21:37 By leveraging, leveraging the data, right, leveraging and looking at the data in different ways. I think we often look at our financials as, as this is what we sold in the last month and that's a way to forecast for sure. But do we understand why? Do we understand what we need to tweak? Do we understand what we can do better right, looking at the entire picture of what's happening?

22:04 What are the drivers? Yeah, definitely. Looking at the drivers, breaking them down, you know, most of the time if you, if you tell it, if you talk to a of businesses struggling, their answer is always I need to sell more, right? That's always the answer. I need to sell more. And that's possibly not right.

22:22 Like maybe I need to increase my price, maybe I need to negotiate my cost. Maybe I'm holding too much inventory, right? Like who's who's looking at all of those different letters. And I think there's a huge misconception about who's responsibility that is. A lot of times we'll talk to a business owner and they're like, but I have a bookkeeper. Are we clear on the scope of what the bookkeeper's responsibility is?

22:48 Or when we have entry conversations, they'll say, but I have ACPA, OK. But is that included in the scope, right, of what the CPA is doing for you? Are they going to be monitoring profitability, cash flow, right? Not to say that they can't, right? And not to say that a bookkeeper can't either. It's just is this included in the scope and is it even on your radar, right? I often say nobody gets into business to do their bookkeeping, right?

23:13 Like nobody's ever like really excited about, yes, I need to reconcile my bank account, right? But if we could get excited about the data that's in there, right, again, what it tells us, then maybe we would have a different perspective on looking at the numbers, right? Maybe we would be more excited to truly forecast where we want to go, right? Because forecasting isn't just, I mean, it can be, it can be how much money are we going to make, right? But if I tweak, if I make one change, if I touch one driver, right?

23:47 So if I, if I lower my cost, right, I'm pulling a lever in my business. If I raise my price, I'm pulling a lever in my business. What happens if I touch them all right? Like if there's 16 different drivers and I can tweak them all just a little bit, right, My business can have a completely different outlook than what I thought. So you could be have a food, water simulation on your visas. Of course, you're actually adjusting that multiple variables at the same time.

24:19 Absolutely, absolutely. The thing is, do we have our pulse on those variables, right? That's the question we get stuck in. I've always paid X for this, right? Or I have a great relationship. Like did we, we try, did we try to have a different conversation, right? Did we, do we have stretch goals for ourselves, right? Like one of the things that I think is the biggest killer of business is getting comfortable.

24:50 Get comfortable being uncomfortable. You know what a way to see Brian talk to my next question and it is what so three things do you think business owners should stop or start doing if they want to scale up our profitability? So I, and I think this is the greatest thing for any human to do, right, is approach everything with curiosity, right? There's a lot of times that we believe we know the answer, right?

25:22 And we're not open to something being different or changing something because we've always done it this way. It's traditionally been done this way, right? And we live in a time where I think that that's, you know, who thought, what was it 2 years ago that AI really became used? Like I, I'm seeing teenagers in high school that are having conversations with ChatGPT now, right?

25:47 Like who thought that that would be where we are now? If we don't approach everything we do with curiosity, we could be leaving something on the table, right? I think if we're gonna, I would want to see people embrace. I know nothing, right? Like show me your way. Show me what you know. How can I leverage what I know what you know? How can we put it together to make something versus being in a position of I know what I need to do in business, right? Like, and I think that even even for us as advisory professionals, that's an interesting place to be, right? Like when you have a conversation with someone like, well, OK, explain to me why that's happening. Like why do you think that's

26:30 happening, right? Like we're show me, show me how the data points you there, right? Like give me physical proof of how we got to that, right? Like, but these are conversations that should be had, right? Like, you know, we live, we can build just about any tool right now. You can, you can have, you know, AI compute the most complex things, right, just by having a conversation.

26:59 It's not even like it's like, I want to input this data and I want to look at the data that way, right? Like if we're not curious about what we can do with that, then we're going to leave. We're going to leave stuff on the table. For sure. So Speaking of leaving stuff on the table, what is on the table right now is strategic advice for new CFO fems.

27:18 And of course, you know, I am on that table. So as someone who's just, you know, launched their new fractional CFO service and you know, what foundational systems mindset shifts or habits would you recommend for them to focus on? For I would say that you definitely you. You have to have your your processes systematized, right? It has to be repeatable.

27:43 I think the challenge with growing into advisory service is it is part of what most accounting and finance professionals already have in their wheelhouse, right? It's about setting up a way to systematize that information and make it repeatable for multiple clients. It doesn't matter. That's capable as well.

28:05 Correct, right. It doesn't matter the industry per SE, right? And that's the beauty of the numbers. The numbers are the numbers, right, right. Your benchmarks may be different, but how am I looking at all of the different parts of my business, right, at all the different drivers? How am I looking at that data and able to consolidate that and put it in a way that is understandable and more than understandable actionable? I think that's right, because having access to the data and not making a decision or change is almost criminal, right? Like it's like if you have all these data points and what am I doing with it?

28:43 And that's what we're really trying to, that's what we're doing with advisory service, right, is that we're presenting the data in a different way. You know, for for assurance services, you know, the emphasis is more on the accuracy and the understandability of of the data, right? On the other side, you know you also need to ensure that the data is actionable and understanding because you're actually making recommendations and not just making recommendations. You're making recommendations that's ought to be actioned in the other for that pieces to move to the next level. Absolutely, absolutely.

29:24 I think that's the, that's where the, the guiding your client comes from, right? Like meeting them where they are because at the end of the day, you know, this is something that you've been doing for how long, how long have you been in the field? I I'm embarrassed to say how long I've been in it, but how long have you been in the field?

29:44 I'll say again, seven years now, yes, some plus years now. So it's. So even. Second nature already. Then, right, the amount of knowledge you have in being able to support a business, right, can be overwhelming to someone that isn't as familiar, right. And so I think we need to also keep our pulse on meeting, meeting people where they are, right?

30:13 Like this is new, it's different, We're looking at data different. Let's be curious, right? There's, there's ways to look at this from a different perspective, right? Where someone might see a challenge, you may see an opportunity. And that's actually very, very true, you know, so back to to the framework about a business acumen as a global acumen, being able to work with cross functional teams, right, that helps you identify opportunities across the board and beauty relationships would actually help you to action those recommendations that come by way of the opportunities that use put out. So it's all just moving variables, different moving parts together and you need to figure out how to feed them together and ensure a proper

31:09 balance for yourself and for for your clients. But what would you say is like one big mistake that you know many new CFO consultants make when starting out and how is the best way to avoid it? So one of the things I think the big, the bigger challenge is that they think they don't know enough, right? Or they're not leveraging the years of experience they have under their belt, right?

31:35 I spoke briefly about my time working at a cruise line, right? Like that, the amount of knowledge that I gained from that experience, right? Like unless you did the same thing or worked in a similar situation, you wouldn't have that knowledge. Don't underestimate the experience that you have, right? Or different opportunities.

31:56 One of the reasons I opened up my own firm was it's such a taboo thing to say, but you know, you can get tired of doing bank reconciliations month after month, right? Like. Exactly. What did I find interesting is learning about different businesses, right? Like, so, I mean, I can probably tell you I worked for a diaper manufacturing company.

32:18 I had no idea that in 3 minutes they could make over 400 diapers, right? Like, so there's a, there's a lot of data that you can extract and that's what I find interesting, right? So never underestimate because, you know, I meet people or I meet other financial professionals that are like, Oh yeah, but I'm just an accountant and I'm like, what? How do you mean I?

32:41 I hate that I seriously just like that, but our people do that a lot. Good luck. Or they're like, well, I'm a bookkeeper or I'm ACPA and I'm like, I don't know, I am a numbers wizard, right? Like I can take those data points and be able to construct a different plan or I think of a different way to do things, or it's about leveraging the information, right?

33:00 Like I think we like to put it in a Pretty Little box of what this looks like and we want to give it a title. And that's the challenge, right, with saying that I'm a fractional CFO or ACFO or whatever it is. It's like at the end of the day, I'm here because I want to help you and your business succeed. I want to help you plan out that strategy to be able to get to where you want to go, right?

33:21 Like a lot of times we get disconnected in our businesses from our why, Why did we start the business, right? Like why did you start your firm? What was your? Basically, you know, to to help our businesses reach the next level and you know, be resourceful to these businesses. And you know, my business philosophy is Wayne Wayne. You know when you add value to an entity, they are happy to give you value because money is a store value. So the only way to get it is to make people happy way of you being resourceful to them.

33:58 That's the easiest way to make money in my business philosophy. You know, when you give people value, they they are happy to give back, you know, some value in return and win, win is the best way to grow and the most sustainable way to grow in any form of business. I stand to be corrected. Or do you have any opposition to that philosophy?

34:21 No, no, as a matter of fact, I find that interesting, right? Because what you're saying is that what's important to you is the value in the exchange, right? The energy exchange, because I do think that money is current. It's, it's energy, right? And so that's the exchange, right? For me, very similar to what you said, I want to see businesses succeed, right?

34:39 Like I feel everyone has a specific skill set, right? And you need multiple different skill sets to successfully operate and stay in business term, right? And so to say that I, I may not be the best person for you if you were trying to do a paper clip campaign, definitely out of my wheelhouse, right? But my relationships with people that can do that, right? Or knowledge that I've seen numbers that we've run all these things may still help your business, right? And the more people that you have that can add that type of value, the more successful your business will be. OK, interesting.

35:17 So what's, what's the best way you know to stand out? Because for me, I, I believe in being different and being different is what makes you just stand out. So how do you position, you know yourself as success and you know this increasingly competitive financial services space? I would say that would be I, I place a lot of a lot of emphasis on building relationships, right?

35:50 Not like this is like finding a business advisor, right for your business is often like finding a doctor or a therapist, right? Like it has to be the right person, right? The person. Wow. You know why I'm laughing? I was chilling with my doctor friend yesterday. He's an orthopedic surgeon. He's been on this work class before.

36:13 Doctor AB to Jabbar Hamza. Shout out to him. And you know I tell your name. You're a doctor of bones or bro? I'm a doctor. I'm a financial Dr. Bro. I checked the pulse. I checked the health status of of organizations. So put some respect on my name, brother. And you're confirming it today. God bless you, Monica the body woman.

36:37 With with there, there are a lot of people in the space, right? But not everyone is going to be the right fit for your business. Yeah. Like it's, I don't, I never see it as competition. I think there is the right person for every business, right? And that is going to be determined by the relationship that you build and the impact that you're able to have, right?

36:59 Because if someone doesn't want to get on a call with you because they don't vibe, they don't feel the same energy, right? Is that going to be a successful relationship even if you have the best skill set in that market, right? If I can't reach you because we're not on the same page, then how can I impact your business, right? So for me, I think it's about connecting with people, building a relationship, right?

37:21 And being in a space where you feel like not only they can benefit from you, but that you can benefit from them. Right. Yeah. Win, win, win, win. Always. That's what I was with you like I I love a win win. You know, that's that's just the best way. Everybody leaves the table happy. I don't want one party leaving the table happy and the other is leaving feeling, you know, shortchanged.

37:47 He he does I. Want whoever we work with has to feel like, I want them to feel like they received value, right? I didn't just give them a report. I didn't give them a tangible document, right? Like we had a conversation, we discussed things, we came up with an action plan together, right? Like there's deliverables built on the conversation that we had.

38:11 We have been approached by and it happens a lot more frequently than I care to admit where they're like, no, we want to work with a team that's just hands off. We never want to meet with you. Just tell us what we need to do. And I'm like, probably not a good fit, right? Like because that's not the way I work.

38:29 I'm not going to get the information I need to help you change your business, impact your business if I can't connect with you. Exactly the data. The data tells you a story, right? But the relationship and conversation are what shifts the data. But you know the interesting thing, right? It's still part of data because we tend to focus too much on quantitative data, but we do get qualitative data off the relationships.

39:02 Absolutely. But the qualitative data does not go into those, you know, analytical tools. It goes in here, you know, we often, often, often undermine the qualitative data. And that's one annoying thing, you know, amongst our numbers guys like ourselves, the qualitative data does matter a lot. And it's good to see a person like yourself acknowledge it.

39:31 You know, how's partnering with incubators like Texters or lining with, you know, fintech ecosystems helps you to grow phenops and agile planners? Being a Tech Stars alum is probably one of the like, It was one of the greatest experiences that I've had. And also, when you talk about an entire system that gives back, right?

39:54 Like the entire tech stars ecosystem is on giving back, right? So you reach out to anyone in the network for a need, a question, a conversation. Can I pick your brain and the doors open? I've never seen a system like that. And to be a part of it was great, right? Or is great because you're always going to be alone.

40:15 I think that that's the model that we have to adopt as a society, right? We tend to gatekeep a lot of information we don't want to share. And being part of an incubator, being a mentor to in these programs, helping develop new technology is just just an amazing experience. I can't even really, I don't think I'm doing it justice. I'm putting it into words, right? Like I know when we went through the program, we we met with, I don't know, so many e-commerce businesses that we wanted, we wanted to get feedback from and everyone. Like it was never a no, it was never difficult, whether it was like, I only have 10 minutes, is that good enough for you? Perfect.

40:55 I'll take the 10 minutes, right? Like it's about truly being part of the change, right? Being part of building the next great thing. I think that in itself is a mindset. You know, it's interesting how super successful people do not hold back. They don't get keep information. And you know, information is key if you are to progress to to the next level or to anything.

41:22 And that's brings me to the concept of the fixed mindset and the growth mindset. You know, people who have that fixed mindset tend to get keep information tend to live in that scarcity mode, right? But why hate when you can't collaborate? You know if you if you close your hands right to to hold what you have back in your hands are not going to be open to receive more but.

41:48 There is a the challenge or the opportunity, right? Like sure, you may not want to give every industry secret that you have, right? But even for us, like I think as advisory professionals, right, like I give away more information and in a conversation at a restaurant with a business owner, then I would because it's, it's how, how do you build a relationship if you're guarded on what you're going to share or the knowledge that you know, right?

42:16 Or how can you, how can you scale if you don't want to discuss where you're trying to get to or how you're going to get there? Or how can you receive, right, the information that you need if you're not willing to have a conversation or ask? And so I think these are the things that we need to keep in mind when we're having those conversations. You know, I was listening to a podcast the other day where I believe what the what the gentleman quoted was don't block the blessing, right?

42:46 And I wonder how much we do that right in conversations when we gate keep thinking that we're going to give away something that we're actually blocking what we can receive. Exactly, you know, and of course, you know, Speaking of don't block the blessing. I think you were aligning with my thoughts, right, Because sometimes you're in conversations with people, you know, and he he you bring on those elements that you would probably have wanted to get keep and they actually provide you with superior information or even just a little bit of insight to improve what you already have speaking, speaking, for example, about yourself and myself, right, actually discourse, you know, the beats and Pats and you know, strategies on my new company

43:37 with you. And you did a great thing giving me a referral to the CFO projects. You know, I spoke with Adam, you know, a great guy, you know, and I have been really grateful for that opportunity to be immersed in a very supportive system, you know, with all of that technical and non-technical support, you know, business development support, like how do you get that if you don't open up in terms of exchanging strategies, you know, in terms of, you know, exchanging ideas, like you don't get what you need.

44:21 A closed mouth is a closed destiny, right? Right. Whose mouths don't get fed? Absolutely. So that's really interesting too. So being part of the CFO project, right, like I'm actually a mentor for the program. It is such a great program. I've learned so much and even I know you spoke with Adam, but Jeff Prager is amazing as well. One of the things we talk about is there's so many businesses that need help right there.

44:49 There's not enough people to, to be the change that's needed, right. So if you don't talk about what's helping you or how you've gotten to where you are now, right, you know, like it it I was at a local event and I, I want everybody to get what they need right? Like I, I never, I don't see things as direct competition in that manner because because not everyone is meant for me.

45:15 Just like I'm not exactly everyone, right? And so if they can get what they need right, then I feel that you will get repeated in different ways, right? And so you always genuinely, I always want to help anyone get like I am what I would call a serial connector, right? Like if someone has a need, whether it's I need printing done AT shirt, it doesn't matter.

45:36 I know someone that knows someone that can get that done. Definitely yes. On that, you know, it's to be helpful, right to to help people achieve what they need, right and to be able to give in ways where you're not expecting to receive is one of the most beautiful things. Exactly. I think what you just said right now, my friends that know me would agree that you're the female version of me. You're just on the other side of the pond, you know, Same philosophies, you know?

46:08 Yeah. And of course, we don't just talk to talk. We walk to talk. You know, there's this book, The Finalist Evolution by Scott Ritzheimer. He was a guest on the podcast, You know, he, he basically documented the, the evolution, you know, the journey of a founder from, you know, inception to exits. And there's this phase he, he talked about, you know, the shift from being a reluctance manager to being a disillusioned leader.

46:42 You know, how do founders know when it's time to stop being the doer and start being the builder? So I think what is difficult about being an entrepreneur at times is that you are the visionary for sure. You spread yourself in. But like for me, I am still very much a doer in the businesses that we have.

47:11 I don't know that that will change. I, I think as you evolve in your founder journey, right, then there's things that you will delegate and give up. However, I think there is a shift that happens, right? Like where you acknowledge what you're good at, where you excel, and where you don't. Exactly.

47:33 There is a point where you have to step back and own that right? Like and own. This is not, this is not my zone of genius, and I should probably let someone who excels in that space do that part right. But it takes a owning your own business is to me right like it is. It is my personal relationship, my husband, my children, my grandchildren and then my business right like it is right there like after the humans in my life.

48:02 And it is hard to give up parts of your baby you know, that you've built, right? Like you, I think for me, I went through a phase of thinking that no one understood our brand but me. Like I couldn't explain it to anyone else. Like nobody, nobody's going to get it. Nobody's going to do it like me, right? Like I need to be the one that does all of this. I'm the one that does this.

48:25 And now I'm like, no, how can I build these things so that someone else can do it? Because the truth is there's people now on the team that do things better than I do in certain, you know, spaces, right? Like maybe there's, you know, like I, I feel like I always want to be a visionary for the companies that we're in.

48:45 I always want to be a part of dreaming to where we're going to go, right? But am I the one that needs to execute all the time? Probably not. No, you know, and he needs to burn out very, very frequently. Yeah, it does lead to burnout. But for me, I've learned very, very quickly, you know, that he needs to be able to institute a systems in place and teach people.

49:06 Yeah, I think maybe because of my teaching background, you know, if you're able to explain certain things to people and build a walkthrough. Yeah, a well documented walkthrough. And I think that helps to serve as a guide for people. Anybody with average intelligence is able to follow a well documented walkthrough.

49:26 And which repetition if you'd not so? I'd love to pick your brain on that because we are structured individuals by nature, right? Yeah, yeah. If you work with, you know, any type of SaaS software, right? Software as a service, there's always change, right? One of the things we talk about a lot on the team internally is Sops, right? And the endless changes that happen. And how do you stay on top of that? Where do you fall on the list of documentation or Sops in this ever changing landscape?

50:02 You know, the only constant thing you know is change basically and that is why I believe in constantly updating your documentation. But in the 1st place, there has to be a documentation on ground. Remember, I'm an auditor by background or aside from that audio background, right? I am actually a piece of strategist by future.

50:26 So even while I was in audit, I think I do have some managers on time, PwC who told me like you should consider being a strategy, not being an audit. Of course, the way you think, the way your mindset is, is actually beauty and business strategies. I never really got what that guy was saying until much later, like, oh, there you go.

50:46 Because of value, right? So, so back, back to the question, right? Same thing with forecasting. You see how, you know, the landscape keeps changing, the variables keep changing. Are you saying we are not going to have a forecasting model? No, we'll keep updating the numbers. And yeah, so basically you can update on a ad hoc basis or a periodical basis.

51:10 So basically you just try to find, you know, a periodic system that actually works well for that business model, you know, depending on the frequency of change. So if we have say a quarterly review, right, yeah, fine. But if we have any major changes then we update on add up basis. So that's not the way to go on, you know, my own side of things.

51:36 Interesting. Well, no, I, I think I've learned over the years that I'm more of a rule Bender than a rule breaker. And so I tend to, I think what I heard you say is structure is built into the updating of Sops and, and what. And so I'm just always curious at how other accounting professionals are taking that right, because I do feel like particularly software changes so much now by the time you make your final edits on how to do something, it's huffed into. Yeah, yeah.

52:05 So, so basically you just need to classify what are the major changes, what are the minor changes. So if you're doing on a monthly basis, right, So you could wait till the end of the month if it's a minor change, because you keep documenting the sense, you know, you have your, your Google sheet where everybody's collaborating on and you know, put documents and those things in notice, right?

52:26 So yeah, if you can wait, let it wait till the month end process. If you cannot wait, then OK, we updated. So it's still structural flexibility, you know? Gotcha. You're welcome. You know, when we're talking about founders, you know, that are trying to move from Beanstalk in the weeds, you know, to becoming visionary leaders who will build scalable systems and culture. Like what's?

52:52 What's your advice for that? And it goes back to what I was stay curious, right? I think for founders particularly, sometimes we get, I've seen it happen where they're so focused on what they're building, it no longer serves the purpose and they haven't pivoted yet because they're so focused on the end goal, right?

53:14 Like a lot of times we have to stop and ask yourself, is this still working the way we intended, right, particularly in the founder world. And there's a lot of missed opportunities. Because I think what happens, at least particularly in the fintech space, is that you're solving for a certain solution and you're so focused on solving for that one thing that you can't see that you have something even bigger right in front of you, right?

53:38 And so you have to be able like, I'll, I'll give you a perfect example. When we were building out fin OPS, we had a target market that we were looking at, right? And if it wasn't because we had met other companies that were larger than what our target market was, we would have possibly never made that pivot. It was talk and having those conversations are like, wait, you're missing what you could actually build with this, right? Like and and I remember those moments of being like, so a headstrong, but that's not who we want to build this product for.

54:10 This isn't what the intention was, right? Like you get very focused on your why that you might miss just how big something can be. Exactly. And you know, that comes with the growth mindset, the open mindedness. You know, sometimes when you just saw tunnel vision and you just focus on achieving a particular goal with a particular method, it keeps you away from seeing other possibilities, right?

54:43 What the flip side to that is bad too, right? Like because if you're not laser focused on the end goal either, then you might miss the milestone. So there definitely has to be a middle ground. I think the. Yeah, definitely. I like that middle ground, right. And remember, even from my answer to you on the SOP's right, you'd see my mindset is all about balancing structure and flexibility. But that is a hard line.

55:07 It is a hard line to follow if you're not. It's approaching it with curiosity. Like what can this is there? Yeah, like if we get. And maybe that that is the growth mindset, right? Because if we're fixed on something. But what is the middle ground mindset, right? Like meaning. Because at the end of the day, I've seen the same situation with founders where they don't get to the end goal because they change too often, right.

55:33 So it's like there has to be or maybe maybe it's about who's on the team, right? Like maybe it's about the players on the team too, right? It's, it's interesting, right? The founder's journey can be, it's a hard 1, you know, like it, it is to be a founder, to be an entrepreneur is is hard. And while you may have a team, it's interesting how it can still be lonely, right? Like.

55:59 Yes, absolutely, because the recent reward, you know, lies with you, the resettle work absolutely like you. But, you know, and I think I would use the the growth of this podcast as a as an example, you know, what a great time to use as an example, having clocked 10,000 subscribers just two days ago. And think about the growth that has been achieved, you know, from inception till now.

56:31 So if you look at the early days of the broadcast, you know, I was using a platform called Stream Yard. And you know, I was always curious about how can we improve? How can we improve? And over time I discovered, yeah, I was using a certain, you know, number of tools. Yeah, another tool called Oversleeps. That tool helps you to court your long form content into shock leaves.

57:01 Well, I discovered it wasn't given me the image quality, the video quality that I wanted. It doesn't export your videos and 4K quality. So why am I paying so much money for this thing? You know I started doing my research, you know discovered I needed to buy a 4K camera, right? So I did research, got the best brand on the market, which is Logitech and of course I saw the improvements with the video quality and what else.

57:33 I had to move from stream yard to a platform called reader side and reader side. Boom, the quality game changed. You know, it could produce your long form and your short form content. You know, with the 4K quality, they, they, they kept on, you know, improving on the technological features, even the AI features on the platform.

58:01 And I like, OK, these are the guys that get the kind of person that I am. You know, I am a progressive. I have, I have an elderly friend, you know, who, who comes to my place, He's always saying, well, anytime I come to your house, you know, something has changed. There's also positive improvement, you know, and that's, you know, the kind of person that I am.

58:19 So we started with sharing stories of ordinary people doing extraordinary things as as a motto. And some people like, I don't like the idea of being called an ordinary person. OK, don't worry. We've changed the the motto to sharing the stories of extraordinary people and dissecting hot topics. Because I discovered it's not just about the stories of these people. These people are coming to share education. So, you know, it's funny, people said, you know, just keep re strategizing and at some point people got to know me almost, you know, we're identifying me with, you know, with interviewing people in combat sports because I do, aside from being a chartered accountant, a finance guy, I do have a background in martial arts.

59:04 I used to trade Taekwondo, karate, and of course I do mixed martial arts. I think guys from the UFC, you know, on this show I've had the president of the Pfc has been over fighting championship on this show as well. But I thought to myself, you are way more than martial arts. You are a businessman, you are a finance professional and you're very vast and versatile. So what did I do around it again, I was trying to dive into speaking with business leaders like yourself, speaking with, you know, health practitioners, doctors, just speaking with guys in AI tech and basically more focus more on business, business, business.

59:43 And now here we are. So over time, you just need to as a founder, you know, change the goal posts over time. And that's what brings, you know, that growth because if you just focused on the particular pathway, is it it's difficult to achieve accelerated goal growth rather, but then there's a structure already. But when you keep welcoming ideas, new ideas. And new possibilities, you know, people tell me, oh, why don't you do this?

1:00:16 Why don't you? There's so many things people have told me. And I said, OK, based on the structure, I just try to incorporate it, incorporate it. And here we go, 10K subscribers. Thank you guys, your feedback, you know, cheap deal has actually helped, you know, to, to, to achieve this level of growth.

1:00:33 So for me, you know, it's about finding that way of balancing the flexibility and the structure, you know, the structure stays, you know, the same. But you know, when you cheapen that flexibility over time and, you know, having this beat sized adjustments over time, yeah, we're still trying to achieve, you know, that goal.

1:00:54 And what was the goal I set out, you know, to achieve. If you look at Spotify, the podcast is under the category self help. So my two major goals when I started out was education and inspiration. So if I can educate people and inspire people, I think my work here is well done. And I think you would agree with me that those are the two things I brought you here to do, and you're doing them indirectly. Well, I, I wanted to touch base on, you know, there's a really good friend of mine that I met in Techstars. I hope he hears this podcast because he'll definitely get the reference.

1:01:28 Wow, but. When we met, I told him that my goal in life was to have an extraordinary life, right? There was a question that was posed, I believe it was yesterday in a conversation, which is like one of the one of the things that you would give women in business, right? Or minority owned businesses or anyone that's like, you know, right now trying to build something, What would you do?

1:02:03 What would you say? And what I would say is stop playing small, right? And realize that you are, you are meant to have an extraordinary life. When we block our blessings or you know, there's another really good friend of mine that says when we hog our gifts by not sharing them with the world, right?

1:02:23 We're not only affecting our own path in life, but someone else's, right? Like your story of how you built something or how you got there or what you've done to get to where you are now may inspire someone else or it may help someone not make that same mistake. Like you don't know how someone's going to take what you have to say or how life changing it is.

1:02:45 I think that what needs to happen is that we can undervalue it, right? I think a lot of times we don't want to share our experience or our stories, right? And I'm like, no, I, I, I feel like we, we need to share more. We need to talk about the challenges that we've had and not just the wins, right? Some of the losses, you know, I, I think we go around saying that I'm a two time founder.

1:03:06 I think it's true. Word, 9 times. We've had nine different companies, right? Like, who would have thought I owned a skateboard shop at some point, right? Things that you do, right? Experiences that you've had that have shaped who we are today, right? Like all of those bits and pieces are part of living that extraordinary life, right?

1:03:23 Like, just, again, they're not playing small, right? Sharing your stories is so important, right? You just never know who you're gonna touch. You know, I, I am actually literally in the business of sharing stories of extraordinary people. So there you go, bring your referrals because I'm taking it upon myself, you know, to share the series of extraordinary people and dissect our hot topics, relevant hot topics, important hot topics, you know, and I hope we, we only grow from here. Yeah, just to the next milestone of the key incoming. Yeah.

1:03:59 Whoa. You know, you've actually made waves of both in finance and tech and of course you talked about being a woman, you know, in this male dominated world. So what has video experience navigating, you know, these are male dominated industries, especially as a Hispanic woman and how are you paying it forward?

1:04:19 I think my experience hasn't been typical because I live in a multicultural area, right? I live in the heart of my. Lucky you. Lucky you. Yeah, well. I I definitely. I want to be like you when I grow up. I, I, I will honor the fact that that is not everyone's experience, but speaking from my own experience, right?

1:04:39 I don't maybe maybe it's also a confidence thing, right? Or maybe not not so much a confidence thing, but a, a resilience and determination to share what we have to offer, right? That it doesn't. I've had very, very, I have nothing but beautiful things to say about the experiences that I've had.

1:04:59 And I have heard for a lot of female founders in particular, particularly in the cohort we were in, there was a lot of Latin American culture and the experience wasn't the same, right. And I think what is important for women, for women, for business owners, for any type of divert, you cannot, you cannot not focus on what it is that you're trying to build, right? Like you cannot play small and you have to show up with the energy of what I am bringing is going to change the world. I am, I am producing something.

1:05:31 I am building something. I am bringing something to the table that is going to change the landscape that we're in now. And if you can keep that top of mind, then your outcome will be more successful, right? I'm not saying that you don't have hiccups and pitfalls and that they're not challenging.

1:05:47 They absolutely are. But if you keep your mindset of what you're bringing to the table, then you can overcome those challenges. Fantastic. I know you're a very, very busy woman and members of your team will come sheep you off the table very soon. But before you get sheeped off the table, are you able to give us a quick, you know, brief story I said it of of a female entrepreneur who whose story or if you know utilizing smart financial strategy is actually transformational and inspirational. Yeah, I'm sure I can.

1:06:29 Of course, now I'm drawing a blank under pressure. OK, before, before, before you, before you give us that story, right? Let's quickly play the quick fire round. You know I have 5 power questions for you. Just very, very quick answers. You know where, if possible, what's a financial tool or tech stack you swear by? Controversial QuickBooks.

1:06:52 Oh wow, QuickBooks, I hate you. I know. I know really it's gonna be controversial, but I feel like. How about 0? QuickBooks has 0. I'm Team QuickBooks. Still, there are some there are some things I love about zero. I just feel, at least here in the US, Zero is more popular on your side of the pond than it is here. Yeah, that's actually very true.

1:07:14 You're correct. Absolutely important. So what's your favorite business book or founder story? Business book. I would I said like I I find it a business book and a life book. I would say think and grow rich. Wow, the one of my favorites. Wow, I said this on you know this broadcast before, but let me just tell you, I think and Grow Rich was the first book my father ever gifted me.

1:07:39 Wow. Yeah, and I honestly, that book actually shaped my life. So big recommendation to the audience. Go be think and grow rich. And I think me later I'll drop, I'll drop the link in the descriptions as well #4 What's the best piece of advice you've ever received as a woman in business? Share your gift. Your story needs to be heard, right? Women have the tendency to show up, or at least in Latin cultures.

1:08:06 I'll speak from Latin cultures. We're we're taught to stay small, right? And I think that that's one thing that definitely needs to change, right, Like show up with your gift, show up with you have to contribute, keep talking about the change that you want to be. Those times are done right, of, of not.

1:08:24 And I, and I think more so is sharing vulnerably, right? Having conversations, true deep conversations about business and life, right? And how they're intertwined. I think that we undervalue that we no longer live in a world where it's like I, especially as an entrepreneur or business owner, right? Like my, I work from 9:00 to 5:00. That doesn't happen anymore.

1:08:47 Like this is this is a part of my lifestyle. For seven, I sleep with my laptop. But I think what's interesting is, at least in this phase of my life, right, I still work just as hard, but I get to choose when and how. Right. Yeah, such a flexibility. Yeah, but that comes over time and it's a learning skill. It's not something that happens right out of the gate, so. It's an acquired taste.

1:09:20 Absolutely. Well, so for me, I think it's a line between personal and work, right? And and how that line can be blurred, right? I think what's important to know that if you take your eye off 1, the other will suffer, right? So often times we think we have to work more to produce more, to succeed more.

1:09:41 But if we don't take care of what's in our lives personally, right? You cannot build a thriving business while your personal life is in chaos, right? And I've tried that it it doesn't work. It never ends well. But those are the things that we don't talk about, right? That we don't talk about. I mean, like you do hear people say that you have to work out for your mental health and things like that.

1:10:05 But but even connection with people that are important to you will help you thrive at work, right? And we sometimes undervalue that. Very, very true. People, please take note. So #5 finish this sentence. Wealth to me means dash freedom. Wow, I like that. Like that. Bless. I forget the traits, right?

1:10:29 The character trait I was thinking out for you is actually resilience. Yeah, resilience actually keeps you going and going and going. And of course, you know, you are an embodiment of resilience. Your story, your journey, you know, has actually benefited a lot from resilience. Think about what you would be today without that resilience.

1:10:49 You know you just kept on going to the audience you know are. Please go get the free guide 16 parts of your business machine on the agile planners website. You know money card is. Book right fit call. Even if you think you know. I tell people all the time, book a right fit call. Let's have a conversation. If something on this call piques your interest and you want to have a conversation about it, please take me up on the offer and book the right fit call.

1:11:23 You just never know again what impact I may have for you and your business or vice versa. Maybe you have something impactful for me. You know, that's what the call the money woman money cars got your back like a chiropract. So wow, from me to you, you know, I feel, I feel honored, you know, having such a highly cerebral and natural business leader on the podcast with me today, I did not forget that the story, if you still have the story in your back, you can drop it. But if you want to leave it for Part 2, it's fine as well. From me to you, I can only see on the broadcast an attitude of gratitude, a sweet attitude.

1:12:08 And when somebody shares their time with you, they share their life with you. Thank you very much for sharing your time, your life with me and the audience today. A very, very big thank you to you. Love and respect that from the other side of the pond. Thank. You thank you so much for having me and I definitely can't wait for Part 2.

1:12:28 Wow. OK, fantastic. Guys. Please, please, Monica, tell them to go subscribe. Yes, I want to now I'm invested. I want to see as these numbers grow and change. I mean, this is an amazing podcast. You have so much to give, so much information to share. I I really I can't wait to see as it grows. Well, thank you very much. And of course guys, good talk to yourself. See you soon.