Episode 001 – What To Expect From The 2 Cents Business Podcast
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Work With Common Cents
About This Episode
In this inaugural episode, our host, Joyce M. Washington, CPA, introduces herself and gives you the skinny on why she started this podcast. It may involve some choice words and tears. (Not really).
Mentioned in this episode:
- How this podcast escaped from the idea pile in Asana
- The backstory of our host, Joyce and the company she started TheCommonCents.com
- What you can expect from this podcast, the format and when you can expect new episodes
Highlights of this episode:
- 1:20 My fascination with analytics and spreadsheets and numbers is part of my “why”
- 2:33 Quick professional background – degreed accountant, licensed CPA (check out more here)
- 4:20 Why Common Cents Consulting was started
- 4:59 Why The 2 Cents Business Podcast got started
- 6:05 The REAL truth about starting, building and growing a business
- 7:06 Why your frequency (or lack thereof) can make or break your business
- 7:52 How WE are going to make numbers a lot simpler
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Episode 001 - What To Expect From The 2 Cents Business Podcast: Transcript
Welcome to Episode One of the 2 Cents Business Podcast. Hey there. I’m your host Joyce. And in today’s episode, we’re going to talk about how this podcast came to being. I’m going to give you a little bit of my backstory and explain to you what makes me an “expert”. I am going to give you a couple of, I guess, guarantees. Well, not necessarily guarantees, but I’m going to make a few promises as far as what you should expect from me and this podcast, as well as how you can get your questions answered. So in spoiler alert, you can just email me at podcast at the common cents dot com. So let’s get started.
And I always tell my clients, especially when we first start working together is that in order for us to go forwards, we have to go backwards, we kind of have to look into the rearview. So before I dive into how and why I made this podcast and I want to give you a little bit of about my backstory, as well as tell you a little bit about myself and my business.
So for the most part, I have always been fascinated by analytics and spreadsheets and numbers and money management and an all all of things related to those things. And I actually took my very first accounting course in high school and when I say accounting course, I mean, literal paper and literal ledgers that you kind of follow the source document through the accounting process. So it wasn’t, you know, here’s some software and just do the thing.
This was before software was pretty prevalent. So I guess I kind of watched the evolution of accounting and bookkeeping, from literal paper ledgers and T-accounts and 10 key to then desktop software and now cloud software like QuickBooks Online and Xero. So, so it’s been a process.
So as you can imagine, I have been an accountant for over 20 years, and I have been licensed as a CPA for a little over 10 years now. But, you know, some of that is a story for another day. And if you’d like to learn more about me, and, and my evolution as an accountant, you can always check that out on my website.
So I guess that kind of brings me to why I started my business. So I had worked corporate for quite a bit. And before before I kind of dove into working on my own. And starting my business, I had worked for a small business, a small accounting firm, I had worked in some area, some some regional real estate companies. So I had, you know, done quite a bit of the big, big accounting department type stuff.
And then with working with the smaller accounting firm, I saw, you know, small businesses that really had really good ideas, but they couldn’t make a go at it, because they didn’t necessarily have the savvy of a big accounting department and that they tend to, I guess, are so busy actually doing the thing that they love that they forget the money part. And when you forget the money part, you know, it’s easy for the businesses to fail.
So so that’s why I started my business, Common Cents Consulting, because I ultimately want it to bring big business accounting department savvy and function to the small business owner, especially solopreneurs and microprenuers that are wearing way too many hats to, I guess, to really build and thrive as, as solopreneurs and microprenuers.
So then, I guess now we finally getting to the crux of it, and why I’m starting this podcast.
So to be honest, I am tired and frustrated. I’m tired of seeing perfectly competent solo printers and my printers I fail because of poor money management and poor money decisions. I’m sure you’ve heard of shiny object syndrome. And, and, and that is, I think prevalent.
And when, when you’re going it alone, because you think this, this one thing will help you to grow your business quicker, faster, and all those good things. But, you know, like I said, I was getting tired and frustrated seeing smart, absolutely brilliant business women and business men closing, you know, a business that they love, because they just couldn’t make a go of it, because they just couldn’t figure out a way to be profitable. And we’ll talk about profits and stuff a lot on this podcast.
So, you know, I guess the The truth is that starting, building and growing a business is hard work, it’s hard. And it’s much harder when you aren’t tracking the money. So back to, I guess, me being obsessed with numbers and analytics and spreadsheets and, and all that stuff is that, you know, one of the things that I found and throughout my career and throughout me growing my business and in particular, is that tracking the money does not have to be this complicated, you know, thing, it doesn’t have to be this huge spreadsheet or you know, that this huge thing with V-lookups and pivot tables and all of that stuff, it can be quite simple.
And, and again, it doesn’t have to be complicated. But it has to be something that is an integral part of your weekly habits, monthly habits. It cannot be something that you do once in a while. It can’t be something that you that you do. And you review once a year when when you talk to your tax person, it has to be something that that you do often that you refer to often that you base your decisions, your business decisions off of it must be more than a wish and a prayer.
So that’s why I again, that’s why I started this podcast, I wanted to make numbers a lot simpler than then I see them being played out to be and I wanted to make sure that it’s something that might actually even be fun. Because obviously, since I love numbers, it’s something that’s fun for me, analytics is something that’s fun for me. And I want that for, you know, for my clients. And I want that for you, too.
So what you can expect from from me, and what you can expect from this podcast is that every Monday you can expect a quick check in and in in my business and with my clients I call it money and metrics Monday. So so we’re going to do I guess, a drop down and undress have some numbers every Monday. And the format is going to be tips and tools and you know, q and a style again, if you have a question, please send it to me.
And on an upcoming podcast, I’ll be sure to to address your question. And, and occasionally I might have have some interviews with with some people. And we can talk numbers. Um, and the topics obviously, are going to be all numbers, all money all metrics all the time. So so that’s what we’re going to be doing here on the 2 Cents Business Podcast.
So to recap, I’m doing this the 2 Cents Business Podcast for you, Madam business owner, and for you, Mr. business owner, because I truly in every fiber of my being, I want you to succeed, I want you to pursue the thing that you love to do.
And, and analyzing the numbers does not have to be complicated, but you do have to track your money and your metrics more than once or twice a year in order to glean any wisdom from said analysis. And last but not least expect a new episode in your earbuds every Monday full of tips, tools, Q and A’s by again, it’ll be all numbers, all money on metrics all the time. So thanks for listening today.
and to me, one of the keys of succeeding in this small business game is paying close and frequent attention to your numbers. And when I say numbers, it doesn’t necessarily just mean money. So I want you to pay attention to your numbers.
And that’s it for now. If you enjoyed this episode, and you’d like to hear more, please subscribe and leave me a rating while you’re there.
And obviously, this is a new podcast, so I’d love to hear from you. Again. If you have a question that you like me to answer on an upcoming episode, send an email to me at firstname.lastname@example.org.
I’ll have that in the show notes. And and if you like you can remain anonymous because I know money can be a touchy topic for some people. So if you’d like me to keep your name confidential, I am more than willing to do that. So again, until next time, have a profitable week. Thanks for listening.