Jessica Osborn [00:00:00]:
I'm sure that you've heard before the saying that if your business isn't profitable, then you've just got yourself an expensive hobby. Now, we all know that business, of course, we need to be making a profit for our businesses to be healthy and to be growing and also obviously sustainable, like something that is going to be able to support you, support your life, and do it for the long term. So today we're talking to a profitability consultant, all about how you can make your business profit more profitable. Stay tuned. It's coming right up now. My special guest that I'm bringing to you today is Tana Kramer, who is the founder of TK Solutions. She's a profitability strategist and guide. She has really dedicated her career to empowering entrepreneurs, especially women, to get sustainable growth and financial success.
Jessica Osborn [00:00:56]:
She has a degree in business administration and management, but decades of experience, more importantly across so many industries, including content creators, personal development leaders, service providers, lifestyle apparel backgrounds, just to name a few of them. Now, Tana brings so much of her expertise, not only just in finance and running businesses, but also just in the approach to life. And really what drives her is that thought that you only live once and you should be having a business that's supporting you to live the life that you want to be living now. So her commitment is helping entrepreneurs align their business with their lifestyle goals, creating that foundation for both professional and personal success. Now, you're going to love this conversation because you would not guess that she's a finance background person. She's so personable, such an energetic, engaging person. And we have a really great chat about, you know, how you can manage your business better, what to look for, how to. To uncover the profitability, some of the mistakes people make that are preventing them from being profitable.
Jessica Osborn [00:02:08]:
And she's got some great tips on how to make it all way more fun as well. So without further ado, let me play this interview for you. Okay, so I'm here with the lovely Tana Kramer. She's the chief everything Officer, I think you said, of TK Solutions. Welcome, Tana. So great to have you here on the podcast today.
Tana Kramer [00:02:48]:
Yeah, thank you for having me. I joke around that I'm the chief everything, but it's because my technical title is fractional cfo. But a lot of times people are like, huh, what is that? That's totally in the finance bucket. And so I actually usually lean into, when I'm talking to potential clients, a profitability consultant, because at the end of the day, all the titles do not matter. To me, I am just interested in getting into it with business owners and figuring out how they can have a profitable and sustainable business. Because we're only here this one time, and I just. If you're in business, you're brave, but you might not have all the tools that you want. And so I just want to help get into your business and figure out how we can make sure that it's making you the money that you want so that you can live the life that you want.
Jessica Osborn [00:03:32]:
Love that. And, yes, I think you and I are so aligned on so many things. Like, you get one life, right? This is it. There is no dress rehearsal. You don't get to come back and do it better next time. It's like, if you're not living it now, then what are we doing? What are we waiting for to actually start living the life that you want? And I love how, you know, you shared with me that you've been able to create your business in the way that you can travel and in the RV and do the RV lifestyle, which I love. And, you know, we had a quick chat before we pressed record, because I did the same thing with my family a couple of years ago, and we'll definitely do it again. But before we get into that, do you want to talk a little bit more about the types of people that you help and, you know, what does it really mean? You know, know, a profitability consultant.
Jessica Osborn [00:04:14]:
That's great. What do you actually do when you come in to someone's business and help them give us.
Tana Kramer [00:04:21]:
I always, always start out with, like, where are they at? Like, what's keeping them up at night? What are they, like, freaking out, you know, in the container of finance? So, like, are they worried about cash flow? Are they worried about. Are they making enough money? You know, I really dig into, like, what are the things that are keeping you up at night? Because ultimately, that's why they reached out. And so I want to make sure we're touching those first. And then I start to think about, like, okay, so first of all, I'm, like, immediately pulling together a puzzle. So, like, they're telling me something, and I'm like, okay, I'm, like, creating this whole picture of what I can see in their business. And then I ask them, where do they want to be? So first, like, what's stressing you out? And then where are you trying to go? And then we start to, like, pull together. What are the different pieces to get you there? So if they're like, well, what I'd really love to do is X, Y and Z. It's like, okay, cool.
Tana Kramer [00:05:11]:
How much of that are you doing in your business right now? And what is preventing you from doing those things? And so again, we just really dial into. I'm starting to create a picture of how their business works and what they're looking for in their life. And then I usually am listening then for all of the things that I'm like, okay, so we might need to circle back to that. I need to cycle back to that. Because again, it's very customized approach. But at the end of the day, I'm what's keeping you up at night? Where are you now? And then where are you trying to go? And then we're going to build all the bridges that we need to get you there.
Jessica Osborn [00:05:41]:
Yeah, amazing. Because I think, you know, one of the questions that might be on people's minds. So we started talking. You know, you mentioned CFO is, is kind of a title that you would have in the corporate space. And we instantly think of finance. And I guess a question people might have in their minds is, well, how does it differ from what their accountant might do? You know, they've maybe got someone who's an accountant doing their business finances. What's the difference between what they're doing and that role versus what you're doing? Because I can kind of feel energetically when you're talking, I'm like, that doesn't sound like a standard accountant who's like, tasked with managing the finances of the business. But you're still in the financy space.
Jessica Osborn [00:06:23]:
But it feels different. So what. How would you describe that difference between your roles?
Tana Kramer [00:06:31]:
Absolutely. It's funny, a friend of mine and I talk regularly about how like, the finance bucket is a very big bucket. Right. There's your financial advisor who's going to help you personally. Personally and business, when you make money, tell you how you should invest it. There is your accountant who's just going to like, do. You're typically a tax preparer who's going to prepare your taxes. And my husband actually does that as well for people that we work with.
Tana Kramer [00:06:53]:
So he is a tax preparer. And I always say, and I do everything else, so I have a team that helps with the bookkeeping because we need to start with the coding the transactions in a, in a meaningful way so that when we look at your reports, they mean something to you. Because nothing worse than getting these reports that you're like, I don't even look at those. Right. And so I want to make sure that we're reporting that information in a meaningful way. And then. And usually that's. That's things like if you have several revenue streams, are they profitable by themselves? And if you have, you know, say you have 20 courses, right, that you have, how many of those are actually making you money and how many of them can you drop so that you can really focus on the ones that people really love? And maybe you have the others available, but you really are only promoting these two.
Tana Kramer [00:07:39]:
And from those, everything else trickles down. Right. But I want to make sure that your, you know, profit and loss statement and some of the things that you would typically get that, that is like the level of detail that's actually happening in your business is showing up on those reports. And so I'm typically working with a professional service provider, a coach, maybe somebody who's in wellness. I mean, have a functional med clinic right now. Who is my favorite. We're like, doing all sorts of fun things in there because she just didn't have what she was looking for out of her accounting resource. And so I'm like, let's get into it.
Tana Kramer [00:08:12]:
So we're starting with again, where the holes and what she's looking for. And we're slowly building this, this, you know, this like, foundation for the ability to be like, okay, let's start to analyze and be able to look back and start to predict the future. And so that's what gets me excited.
Jessica Osborn [00:08:31]:
Yeah. Yeah, I love it. And like, there is so much gold in the, in the numbers and in the data, if you know how to look at it and interpret it. And you know, do you often find that there are people doing things in their business just because they've always done them or it kind of got added in at some point and set. Taking away time and energy and that profitability where it's like, well, that's not actually creating much in terms of benefit for you, but you're doing it because maybe your clients asked you to in the past or. Or you think you're expected to. Right. And like, finding all those things that are really holding you back can.
Jessica Osborn [00:09:06]:
Can be so beneficial.
Tana Kramer [00:09:09]:
Absolutely. Like, there's some basics, right? Like, we all need to do it. We need to a bank wreck. But like, beyond that, like, there are some things like have to get done in order just to sort of see all the holes that are happening in a boat. But beyond that, it can be very like what you're actually looking at after that data is, is, you know, managed is. It can be very, very different for every. For every business. You know, I have a client who they Netflix that's often like office supplies or maybe it's owner draw.
Tana Kramer [00:09:37]:
But in this particular case, this is actually a cost of goods sold. So it's like one expense can be three or four different things depending on what the business is. And so I take a very customized approach to be able to say, oh, I understand your business and I understand what we would be able to like convince the tax authorities about how that applies to your business. And so that way, you know, your, it's again, it's just a very customized approach because I think that if you are just having like QuickBooks do it or you know, somebody who is going to be a little more cookie cutter, you're not going to get as much value out of that reporting.
Jessica Osborn [00:10:15]:
Yes. Yeah, exactly. I love that so much. Now tell us a bit about your how did you get into this business? How long have you been running it for? Is this what you've always done or you know, what's a bit of your background?
Tana Kramer [00:10:29]:
Okay, well, I, I always knew that I would help entrepreneurs because I started out like with my dad when I think I was 8 years old. And I loved just like understanding what was happening there and then I've always been a problem solver. So I actually started out, I went to business school and well, actually first I went to like psychology and sociology, all these classes that I'm like, in the end I'm like, oh, I don't know if this made sense, but I was interested to know how people think and how people work. And then I applied that in the business context. So I worked for a lot of a bunch of different entrepreneurs over the course of time. And I realized as my kids were launching that I was like, I have been working so much. How do I have a little bit more say over the, you know, the time and when to ramp up and when to ramp down. And so I was like, I'm going to start a business.
Tana Kramer [00:11:17]:
And so I've actually been doing this business for myself or I say for myself really for my clients. But under this umbrella that is TK Solutions for about six years. And so I've taken, you know, all of the experience that I had at more medium sized companies and really bringing that to the smaller, you know, the smaller clients. And so it's been really, really fun to be able to be like, because again, I'm always just like, what's this puzzle look like? So I mean, who doesn't love to do a different puzzle all the time, Right?
Jessica Osborn [00:11:48]:
Yeah.
Tana Kramer [00:11:48]:
And so that's Totally how I think about it.
Jessica Osborn [00:11:52]:
I love that. And when you started this business so, you know, six years ago, did you have the vision in mind that you would, you know, embark on the RV lifestyle with your husband right then and there? Like, did you sort of bake that into your strategy, or was it something that you realized that you could do once you'd set up and started going? And how did you do it?
Tana Kramer [00:12:14]:
Yeah, well, I would say that I always knew I wanted to be virtual. I had worked from home for a previous client or employer, and I really loved the ability to be like, sometimes I'm going to work at home, and sometimes I'm going to, you know, go to a coffee shop and love the energy of a coffee shop when it's like, everyone's. Everyone's working, but nobody's talking to me because you just can't. You can really get, like, so much done, like, so much focus.
Jessica Osborn [00:12:37]:
Right.
Tana Kramer [00:12:37]:
So I always knew it wanted to be virtual. And I actually gave some notice at my existing employer, and I was like, I'm just going to work part time. It worked out great for us. Like, they hired somebody, a cfo. I continued to help, and. And then I was like, I'm going to 100% go out of my own. I feel like I can do this. And that was March of 2020.
Tana Kramer [00:12:56]:
And so I don't know if you remember what happened in the world, but because I was ready, like, go to the networking and, like, talk to the people and join the chamber and, like, right. Get out into the world. And I was living in Austin, Texas, at the time, and so I was like, oh, well, this will be interesting. So I was like, hey, that's okay. I'm just going to pivot. I, you know, I'm used to, you know, being on Zoom and talking to people, because I've been doing that for years to stay connected to the team that I had loved. Already knew how to, like, do that. And so I just.
Tana Kramer [00:13:25]:
I started joining virtual networking things. And so I knew that when my kids were gone that I would want to travel. My. So I started telling my husband, who was at the time a teacher and a coach. I was like, hey, when the kids are done with the school calendar, so am I. And so I'm going to need you to figure out what you want to do that's going to be virtual. And so now he's in his fifth year of doing taxes. And so we sort of built out, like, how do we give ourselves full freedom to be able to do what we want and, and then about.
Tana Kramer [00:13:58]:
About a year before the last kiddo was graduating, I was like, I think we should think about an rv. Let's, you know, let's do it. So then we started, like, obsessing about YouTube videos and people renovating RVs and all the things. And I will tell you that present day, I think I told you this a few minutes before, the RV has been broken for 85 days. So it's been a little teeny bit sad. But here's the thing. Like, we are the answer to all of the problems that we have, and we can decide what we want to do about that. And so we are, you know, actively in conversation about moving to a place that we had set, would.
Tana Kramer [00:14:38]:
Had on our list. When we knew that we would launch the kids, we wouldn't stay where we were. In fact, every time a kid graduated, we'd be like, we're moving because we wanted everyone to experience something different. And so we are. I was going to say we haven't signed a lease yet, but we are planning to move to North Carolina because it's a part of the country that we've never been in. And we're like, we can go to Charleston, we can go to Charlotte. We can go, like, there's plenty of things to just experience more on life. And so, yeah, so we're actively doing that.
Tana Kramer [00:15:08]:
So the business allows us to be able to do that. So, you know, even in the rv, we've. We've both. Both got our own spots to be able to talk to clients. And we've got, you know, I have. We have rolly desks. We have all the things. Because freedom is definitely one of our core values.
Jessica Osborn [00:15:23]:
Yeah. Oh, absolutely. Same here. And did you find that. Were there specific things that you did in thinking about how you were structuring your business or your services? Apart from it being virtual, obviously, because that gives you that ability. Was there. Were there things that you built in that you knew would then make it easy to have that amount of flexibility? Because I recall back when we went around Australia, maybe a little bit different in the us but I'm sure that there are places that are the same. Like, if you go outside of some of the capital cities, you literally, there is zero mobile reception.
Jessica Osborn [00:15:57]:
Like, there is no Internet. So I bought, you know, the Starlink satellite, Elon Musk, you know, the satellite, which was amazing. It meant that I had Internet access even in the most remotest places. But we had big driving days. You know, we were literally traveling around the outside of Australia on, on a You know, a giant road trip. And so we had some days we were, you know, not intentionally driving for nine hours, but we did get lost somewhere and, you know, ended up being in the car for a long time. So I had to bake in that flexibility. And I knew that beforehand.
Jessica Osborn [00:16:29]:
And so I was just curious. Yeah. What did you do with your business that allowed you to embark on the RV lifestyle? Because I've heard so many people say to me, oh, I'd love to do that. I just don't think I can. I'm like, well, I always think you can do anything you want as long as you decide you're doing it. Then you just have to figure out how you're going to do it. So, yeah, that was a very long winded question. But, yeah, no, no, but I can.
Tana Kramer [00:16:50]:
Say all sorts of ideas. So a couple. A couple key things. First of all, I made sure that my ideal client and the people that I'm working with were not going to be freaked out that I was not, like, wearing a, you know, a blazer and like a pantsuit. Right. Like, I had to first make sure that they were going to be able to be okay with whatever I was doing and that. That there wasn't going to need to be any, you know, trickery, I guess.
Jessica Osborn [00:17:11]:
Yeah.
Tana Kramer [00:17:11]:
To make that happen. Because at the end of the day, like, in my world, you cannot. There cannot be trickery. So I needed to make sure that people were okay. And I think that actually, like, Covid really, really helps that for me.
Jessica Osborn [00:17:21]:
But.
Tana Kramer [00:17:22]:
But then the other things that I do is, like, I have a pretty strict blocked calendar in that I have, like, days I talk to people and then days I do deep work. And so I have lots of routine meetings with clients and with team to make sure that we can have the touch points that we need. And then on those deep work days, if they need to be driving days, then I'm gonna. I'm gonna swap it. I might work on Saturday instead of, you know, on Wednesday, but most of the time I still like to keep to a Monday to Friday because I think it's just easier for my own self and my boundaries and for clients and so. But yeah, that block schedule of some days I talk to people and sometimes I'm doing deep work has really, really helped for. Set the expectation for, again, for team or for clients that I will be able to get them what they need. But I.
Tana Kramer [00:18:10]:
We can't constantly be talking all of the time in order to do that because of the nature of the work that I'M trying to do. It's pretty analytical. Right. But also love to talk to people. And so again, whether that be like, connecting with business owners about things that they've got going on or actually going over their data and starting to dream a little bit with all that's possible. And then as far as, like, logistics, we definitely have, you know, we've got a hotspot with AT&T. We have a hotspot with Verizon because we, my husband and I have opposite, you know, providers on purpose so that we could always have. And then we, we did, we bought Starlink because I just never wanted, I never wanted team or clients to miss out on us because we were in a great place.
Tana Kramer [00:18:53]:
So. And we typically would go about three weeks at a time. So we would go and we would try to get somewhere on a Saturday or Sunday so that we could be ready for the work week. And then, you know, nights and weekends we could go play and we would be somewhere for a little while. So we get to be able to, to get into a routine. And so that was really helpful for us to be able to do both. Well, yeah.
Jessica Osborn [00:19:14]:
Yeah, I love that. And, you know, it's so smart when you think about it. And it's something you could do even no matter where you're working from, if you even just working from home. But the fact that you have days that you're like, I'm doing my deep analytical work this day and then I'm having the days where I'm talking to people because there's such a shift in your brain space when you're doing that deep analytical work. And, you know, I get right into things, I'm developing and then I'm like, oh, I haven't done any content for social media. I haven't done that. And it's like, it's so hard.
Tana Kramer [00:19:42]:
I haven't eaten or went to the ladies room because I was like, deep in.
Jessica Osborn [00:19:45]:
Right, yeah, exactly. And it's like, it's actually really hard to just suddenly turn that on and then be in a place where you're going to have the energy and be creating something. And I think it's really smart to actually be like, well, this is the day I'm doing the talking stuff. Because you can kind of prime yourself for it. You know, you can really get into, into the vibe and energy and be like, I'm having my talking day to day. And then the other days where you're like, right, I'm, I'm now going in and I'm getting into the analytical, you can just get into that zone and, and stay in it. I think it's that constant switching between the two that can be so exhausting.
Tana Kramer [00:20:21]:
It can create burnout for sure.
Jessica Osborn [00:20:22]:
Yeah. And you know, I love that you mentioned the very first thing was like, make sure you've got the right clients. I'm like, absolutely. I could not agree more. And it's something I don't know if I talked about much, but, you know, starting my business, I started it as a. Just as my second child was born. So I literally had a newborn at home. And I was like, my clients are going to need to be people who are totally okay if I happen to have a child sleeping on me in a carrier while we're doing a session.
Jessica Osborn [00:20:49]:
Or, you know, I'm like, hey, I. There's some disaster happening. You know, they. They need to be people who are absolutely fine with that and they're probably having the same things as well. And you know, I can also be really understanding of what's going on in their life. And, you know, I really selected my clients based on that. And it's interesting that you say about the traveling because, yeah, my clients I was working with, when we were traveling around Australia, they would be like, loving seeing me sitting outside in this amazing place and then like, where are you in the world behind you? Yeah, I'm in this singlet because it's, you know, roasting hot somewhere in, in the outback in Australia. And I'm like, oh, we've just been on a hike to a gorge and you know, all of these things happening or we're on the beach somewhere.
Jessica Osborn [00:21:36]:
Amazing. And they just loved seeing that. So, you know, it obviously didn't matter that I'm not there in like the professional garb because it's like, well, that's not why they're hiring you in the first place. Who cares what you're wearing? It's. It's the brain and what you're bringing to them that is really the value. So, yeah, I had a great boss.
Tana Kramer [00:21:56]:
That actually taught me that. I remember when I was like apologizing for stuff and, or like, you know, the kid that was sick or the dentist appointment or whatever, and he was like, you bring your whole self to work. And I just, he's still my favorite boss. But. But to recognize that we wear lots of hats and we do bring our whole person to work and I think that, you know, even in self employment, that's still true. And you do need to give yourself some, some grace when it comes to that, because it never stops, right? The, the client, work, the client, ask the, you know, things you want to do for yourself or, you know, you know, maybe it's projections, like in your own business it never stops. And so you do have to create some really good and solid boundaries so that you continue to like your business. Because I think that that is, you know, part of the sustainability.
Tana Kramer [00:22:43]:
It isn't just do you run out of cash, it's also do you like what you do? Do you like who you're doing it for? And can you see yourself continuing to iterate? Because that I think is what is like ultimately going to attract people to your business and it's what's going to keep you wanting to do your business.
Jessica Osborn [00:23:02]:
Yeah, yeah, so true. I think it's like, it's like that little shift in difference between doing something to make money versus doing something. Because it's like the, the bigger impact, right? Of course, no one's in business not to make money. That's just part of the exchange. But it's like the purpose is actually bigger than it is the impact that you're making. It's the pleasure that you get out of doing it. It's all that fulfillment and you know, and then the life that you're getting to lead as well, it's got to be bigger than it. I think it's like when you're only doing it for the money, that's where it gets really tiring really quickly.
Jessica Osborn [00:23:39]:
And that's where you see the people just like, I can't do this. I'm like, yeah, but you're just literally doing that to make money. Like, try just serving, you know, try thinking of how can I serve this person and do the things that actually really you want to be doing. That's where the money flows easier anyway. So it's kind of ironic because like.
Tana Kramer [00:23:59]:
Scarcity is a real thing. Like if you're, if you're, if you're having scarcity around your own time, your own energy. Like I always tell people, hey, if I'm starting to get cranky and I don't notice it because usually I'm pretty self aware, but if I don't notice it, somebody asked me like, when did I go to yoga last time? Do I need to have rest, right? And so like go through and ask yourself these questions because one of two things is happening. Either you're tired and you're hungry, you need to get some more rest, you take a day off or you're out of alignment. And so if you're if you're out of alignment, then you need to start thinking about how you can start to tweak your business so that you are more so in alignment. And so sometimes that's hiring somebody to do something that some of the things that you don't love to do. And again, make sure you hire somebody who's lit up by that thing. Like don't just, you know, get the person who's nearby but like have them be light up because then they're going like that energy will help and then you can be able to shift a little bit.
Tana Kramer [00:24:49]:
So I think that that's in so important to first figure out is this like, you know, Maslow's hierarchy of needs, like do you need to handle some things or do you need to just shift? And again, that's the beautiful thing about being in business for yourself is you can, you know, make some of those slow, slower shifts and as you evolve, so can your business. And so again that just ties back to that freedom, right?
Jessica Osborn [00:25:08]:
Yeah, absolutely. And I'm sure you see so often that, you know, people might be like, oh, I can't hire someone because I'm not making enough. It's like, but what if hiring that person means that you can make enough? You know, like sometimes it's the very thing that can, that can unblock. I was curious to, you know, ask you a bit more about the finance side because this is really your true expertise. And businesses talk about revenue, they talk about profit. And you are the profitability consultant. So you obviously like how do we maximize profit? What do you think are the big difference between profit goals and revenue? Revenue goals, like how should we be thinking about them differently?
Tana Kramer [00:25:45]:
Well, I definitely think you need both. It's not one or the other. The top line revenue is ultimately going to be the driver of the profitability. But you, I always tell people, like from a profitability perspective, let's talk about, do you have a business model that works? What are your goals personally? What do you want to take home? And then let's talk about how we can kind of back into that and, and then we can talk about the revenue goals. Like this is what it probably takes to get to that revenue goal. Is that what you want? Because if not, let's adjust.
Jessica Osborn [00:26:18]:
Change the model so.
Tana Kramer [00:26:20]:
Yeah, exactly, exactly. Change the model. Because I think there we people have a tendency to feel like, well they should do this or other people who do this kind of work do it like this. But at the end of the day, you are the one that has to do the thing. So make sure that it is alignment with what you want. And if you're not sure, get quiet. You know, if you're not sure, get quiet, start figuring out, what do you want? And then, you know, I think it's good to talk with other people to say, here's what I want. I'm not sure exactly how to get there.
Tana Kramer [00:26:50]:
In fact, I just had. She's a peer in a coaching group that I'm in, but she just said, I don't want to give away her. Her specifics. But essentially she's like, I decided I wanted this, and I, I let go of how it was going to happen. And that was like, three days ago. And she's like, and sure enough, it happened yesterday. And she called us to, you know, to share and celebrate with the rest of us. And it was like, if you can just say, this is what I want, and then start you, like, let the universe get to work at it, but without obsessing about the how and the possible.
Tana Kramer [00:27:25]:
And like, is it possible or is it not possible? And not to say that you should just like, you know, I want a million dollars tomorrow. Like, that might be tricky, but there's. But there's something about some smaller goals that you can sort of like, say, hey, this is what. This is what the goal is, or this is. This is what I think that, you know, is. Is that the next little thing I want to manifest. I don't want to necessarily use that word, but like, that I want to happen. And so then you can start to just normalize how that can be possible over time.
Tana Kramer [00:27:54]:
And before you know it, it appears and you didn't even. You didn't, like, have to work for it, but you just, you, like, called your shot.
Jessica Osborn [00:28:04]:
Yes. Yeah, I so agree. I love it when you see that happen. It's like so often it's like we're trying to force things and trying to force the way, or you get stuck in the how. And it's like, the how. There can be so many ways to get there. We have to release so many of.
Tana Kramer [00:28:19]:
You could not have seen coming, Right? So many you could not have seen coming.
Jessica Osborn [00:28:22]:
Yeah. And how often is it just like, you know, the person books the call and that, you know, it's like it just comes out of nowhere. And you're like, what was that? Well, maybe you just stopped trying to force it and it was allowed to come in. Yeah, love that. What do you think? Do you see the biggest mistake businesses that you work with are making that really is impacting their profit, their Profitability.
Tana Kramer [00:28:47]:
A business model that doesn't work is the biggest thing they want to. Usually it's. They want to do a lot of things at once. And generally speaking, you should do one. They want one thing really, really well, and then diversify from there is typically what I would recommend. So, yeah, I think that freedom is important and freedom can get you in trouble because you can, you can, you can build seven bridges.
Jessica Osborn [00:29:13]:
But entrepreneurs are like the ideas people and the visionaries. That was like, I've got this new idea, I have to do it. And yeah, you're so right.
Tana Kramer [00:29:21]:
But you gotta, like, do one thing well, and then from that you take the profit, you reinvest in something else. But you do have to first solidly have a business model that works. And so, you know, part of how I encourage people to do that is to give every single dollar a job. And so if you get a dollar in, start divvying it up to the. Where it goes. And then once it starts to accumulate in those different buckets, then you can start to, you know, think, oh, maybe we could do this. Because you. It's a lot of time I give and take.
Tana Kramer [00:29:51]:
And so if you think about giving that dollar a job, if you want to do X with it, but it's in the Y bucket, then you have to take it out of the Y bucket to put it in the X bucket.
Jessica Osborn [00:30:00]:
Yeah.
Tana Kramer [00:30:01]:
So you, that's a decision point because again, you, you can't just make up more money. And I think that that's true even for capital. Like, if you get, you know, a line of credit in your business, still give it a job. Don't act like it's free money, because it's not. You have to pay it back. Right. So give every dollar a job, regardless of how it's coming to you. And then from there you can decide, is this worth it or is that worth it? Or when's the next time? Like, what's the.
Tana Kramer [00:30:27]:
When this bucket is this much, that's when I can do this next thing. Because it is, it is strategic. You do have to be strategic about.
Jessica Osborn [00:30:34]:
That is so simple. But yet, you know, one of the things that I think happens often is people double count in their minds. They're like, oh, I've got this much money in the bank, so I can do this. And then the next day, you know, you're looking at something else and you think, yeah, I've got enough to do that. And you probably end up double counting. And I think that's where it gets into a place where actually we do need that. You know, if you had them in the separate buckets, you would not be double counting what you have. That's, that's such a cool tip.
Jessica Osborn [00:31:04]:
I really love that. The, you know, I guess the question I have is a lot of people want consistency, you know, and especially if you've come from a job and you've had like consistent income, that's like, every month it's the same and you know what's coming in. And it's easy to kind of make those plans with a business. You know, it does fluctuate. Businesses are very, oh, I don't know what the word is. You know, everything's flowing and moving and it's not always the same month to month. You know, how do you, like, what sort of financial indicators are there that you're looking for to sort of show, hey, this is good and we're on the right track versus like, whoa, here's a signal to focus in and make a change or to make a decision differently. Do you have some things that you're looking for? Yeah, yeah.
Tana Kramer [00:31:52]:
I mean, I definitely, I think it depends a little. Like, if you have a launch model, then you might be looking at, you know, handful of launches over time. Are we trending up or down in several different things? Like, again, number of people who are converting or people who purchase. If you're a professional service provider, I like to look at a handful of, you know, months going up backwards and see, like, are we going like this? So we're going like that with revenue and expenses. And so, you know, just identifying some of the data points that are helpful. And then I also think it's really, really important to figure out, again, how much is in the owner pay bucket, how much is in the profit bucket, how much is in that savings bucket. Because you can, if you have a really solid foundation, you can sort of navigate the ebbs and flows and the ups and downs a little bit easier if you're not just looking at your bank account balance and freaking out. So if, you know, this is the amount that I have in my hunter bucket that I'm going to take home no matter what.
Tana Kramer [00:32:53]:
And again, we'll set that according to what's happening in your business. Right. And we might need to make some decisions about what we are not doing or what we're going to do, you know, three months from now. But to create a little bit of stability first so that you can weather these, I think can be really regulating to your nervous system and then it makes you feel a little Less crazy when things are, you know, not going according to plan. And also then when it's, when things are great, you're not like, let's take it all, because then you're not going to give yourself that room for the rest of that wave which is going to come because that is, I mean, that is life. Right?
Jessica Osborn [00:33:28]:
Yeah. And I'm hearing that it's probably really good idea to get used to what those seasons are for your business. Like, you know, even if you're a professional services firm, you know, you're like, is it trending up? Is it trending down? It may be on the whole trending up, but you could have a month where it goes down, but this would be where you want to be looking at it at a bigger level, higher level picture so that you're not going, ah, there's, you know, we've gone down this month and freak out. It's like, well, okay. But the overall trend is up. So, you know, is there a reason.
Tana Kramer [00:34:01]:
Why, like, July, July is always low for everybody unless you're in a vacation deal. Right. Everyone goes on vacation, nobody answers their phone and you're, nobody's scheduling any meetings and you're like, where did everything go? And then come September, everybody's back like crazy and you're like, oh, right, here they all are. And then come November and December, they're gone again. And so just a plan for that. Like, there's no reason to get, I mean, like, probably take a vacation in July just like everybody else or have that be, you know, your planning month where you're. Because, Right. There's always so much to do as an entrepreneur.
Tana Kramer [00:34:30]:
You're wearing so many hats. And so if you can plan for those and know that. Yep, that happens every year. Or maybe you didn't know because you're in your first year of business. Get into a group of people where they're going to help you identify what are some typical, you know, lulls and typical high points depending on your industry?
Jessica Osborn [00:34:50]:
Yes. Yeah, absolutely. Oh, that's so good. Because I think it, you know, you can really take that emotion out of it when you're able to sort of really look at the data and, and make it fun and easy. Do you have any, like, things that you coach your clients on terms of a CEO day, like once a week where they look at their finances or anything like that. What is your, your way of helping people to get into the finances when they're not, you know, that way inclined normally?
Tana Kramer [00:35:21]:
Yeah, well, I have a couple. I mean, I actually Have a couple of different ways I encourage people to do, I like used to call it Finance Friday. That's still my favorite. But we currently are doing a co working session on the first and fourth Thursdays of the month and the goal is it's a finance focused co working session. So come, plan to do your bookkeeping, plan to look, invoice your clients, maybe plan to, you know, pay some bills, like do some of those things that maybe you would avoid otherwise, but create some structure around when you're going to do it and to do it either in community, if you like community, you know, do it with your favorite drink, some music on a candle, like whatever is going to make it feel good. Because if it feels good and you can cross things off the list, you're going to want to do it again so that like that structure looks different for everybody. But find the way that's going to support you to do that and then do the thing. My coach actually regularly says don't let your feelings dictate doing some of the things that you just need to do the reps to get to, you know, what you're looking for.
Tana Kramer [00:36:24]:
And so I encourage people to again find a time that works. We like the Thursdays on the 4th and the first Thursday of every month. But it could be every Friday. You could take, you know, every Friday and do actually do my own books during that time. So we come in, we see who's there, we ask them of what they're doing. And I also am actually doing my bookkeeping and looking at my budget in that time because I'm only leading by, you know, leading, leading by example. But I'm, I also need that time because I am just like everybody else that I have to do. We have to do our own, our own bookkeeping.
Tana Kramer [00:37:00]:
I got to run payroll and figure out what the commission is for my team. And so I don't want to do that and I certainly don't want to do it on the weekend, you know, so I have that block of time where I'm doing that on one of those I talk to people days.
Jessica Osborn [00:37:12]:
Yeah, I love that. And it's kind of a way of keeping accountable as well because you've booked it in and you're showing up for the other people who are there, but you're doing your own at the same time. I love that. Just so multi layered with the intentions and the goals there and making it fun. I, I like that idea. I'm like, yeah, if you're the kind of person, you know, it's A tour. But what if you're sitting down with a glass of wine and put some music on and that's when you're sending out your invoices. You could actually turn it into something that's like a feel good time and, and associate it with like, who doesn't.
Tana Kramer [00:37:43]:
Love to get to like do your laundry? Because you're like, I'm gonna listen to a podcast right now. Oh, sure, I'll do the dishes. Like I don't know how many times at 10 o' clock at night, all I want to do go to bed. And I'm like, oh, nobody did the dishes right. And so I'm like, put in podcast. And now, now I'm up and I'm still doing. I'm like finding other things to do in order to stay.
Jessica Osborn [00:38:01]:
And you're like, I'm winning because I'm, you know, learning something or I'm doing what I actually wanted to. And I'm not just doing a chore. I'm actually. Yeah, that's. It turns into.
Tana Kramer [00:38:11]:
I think the same is true for, for finances or for creating content or like, depending on what you're. What, what your. The thing you like least in your business. Find a way to make it fun. Find a way to make it something that you can do in a way that you will really do it. It's kind of like when you work out, right, do this thing, whatever. Like, there's plenty of exercises that work. Do the one that you're going to actually do.
Jessica Osborn [00:38:33]:
Same is true here. Yeah, that's so true. They're like, what, what exercise is best? The one that you're going to do. I think I've heard someone say that before because it's like you can have all the intention if you don't want to do it. It's. It's just going to be hard. Like how hard to. You're not going to keep up with it.
Jessica Osborn [00:38:50]:
So yeah, love that, Love it. Make it fun.
Tana Kramer [00:38:52]:
Energetic resistance is real, right? Energetic resistance is real. So should remove that by figuring out how do you want to be there? How do you want to do it?
Jessica Osborn [00:39:01]:
Make it more fun. I love that Tana. That's so cool. Now if people want to connect with you and find out more about you or just, just, you know, I really love your approach to business, to finances. You know, just so grounded in actual, just real life. You know, you don't have to be a machine or a person that loves numbers. It's like, you know, we're all humans here. And I really love how you explain things and how you've helping to just make it feel easier and more exciting and interesting.
Jessica Osborn [00:39:31]:
So I'm sure that others listening are feeling the same. Where do you hang out or how can they connect with you?
Tana Kramer [00:39:38]:
Absolutely. So I've got a couple things going. I'm on Instagram a bit, and I say a bit because I really love TikTok, but I'm. I'm not recording videos on TikTok, so. But so I'm mostly on Instagram as far as you know, where to get a hold of me on Instagram, also on LinkedIn. And so that's another good way to get us. We know we're posting blogs on there. You're welcome to reach out and look at my website, which is my firstandlastname.com so T-A-N a K-R-A M E R.com so we can make that nice and easy.
Tana Kramer [00:40:12]:
And I do have a private podcast. So if you're listening and you're like, I might, I might need to know a little bit more. I do have a private podcast that you can access from my website. And so we're going through different strategies that you can use. And so the, the ability to like, listen, stop and listen, stop, I think is good. They're all pretty short. So the goal was just to give a additional taste of what it might be like to work together. And then, you know, if somebody wants to, I'd love to have a chat.
Tana Kramer [00:40:40]:
I, like I said before, I really love to hear about people's businesses. I like to watch them light up and talk about what they, why they're in business and what they're trying to do, like what impact they're trying to make. And so I'm, you know, always good for a phone call or coffee chat to get a sense of what's going on and whether or not, you know, I think I can help you. So I would love to chat with anybody who wants to lean into their finances and figure out and make it feel not scary because, yeah, at the end of the day, I think marketing is scary. But. But I've aligned myself with people who will help me to, you know, to not, you know, feel so scared about that. And so I think we can, we can do anything in community.
Jessica Osborn [00:41:19]:
Yeah, definitely. And I think it's like, you know, we can just take that big scary word off it. Like, you know, you have finance, you're like, oh, my goodness. Or marketing, you know, depending on what your background is. It's like, well, it's Actually, just talking to people, like, marketing is literally just communicating. You know, if you stayed inside and never told anyone about your business, you wouldn't have any clients. Therefore, you wouldn't have a business. So marketing is literally just connecting with the people who are looking for someone like you.
Jessica Osborn [00:41:48]:
And when you kind of take that word out of it and go, oh, I'm just, like, connecting with people. That's easy or fun or, yeah, I want to talk to people, it doesn't feel so scary anymore.
Tana Kramer [00:41:59]:
For sure. Yep. Finance is definitely like that as well.
Jessica Osborn [00:42:03]:
Thank you so much. I'll make sure that all of those links, including your private podcast, where you, you know, you're sharing some even more. I'm sure you've got so much to share. This has been such a cool chat that we've had today. So they'll all be in the show notes. So please do reach out and connect with Tana. If you've loved today's episode or there's something you've taken away from it, I'd love it if you jump onto Instagram and share, you know, maybe a screenshot of you listening to the episode and. And what was your takeaway from it? Tag both of us so that we know because we love to hear about it.
Jessica Osborn [00:42:37]:
Yeah, but that'd be great.
Tana Kramer [00:42:38]:
Love to hear client wins for sure.
Jessica Osborn [00:42:40]:
Yes, absolutely. So thank you so much for joining me today, Tana, and we will talk again soon.
Tana Kramer [00:42:48]:
Absolutely. Thanks for having me. I appreciate it.
