161: How to View Your Relationship with Money in Your Design Firm

Michele  00:00

Hello, my name is Michele, and you're listening to Profit is a Choice. With us on the podcast today is Aimee LaLiberte. Aimee is the owner of My Virtual CFO. And she's also a life and money coach. We are chatting today about having a relationship with money, the good and the bad. Listen in as we talk about money being neutral, and amoral. Afterwards, leave yourself some time to reflect on how money was viewed by your family during your childhood, and how that influences the type of business you run today. 

Michele  00:38

Every day, empowered entrepreneurs are taking ownership of their company financial health, and enjoying the rewards of reduced stress and more creativity. With my background, as a financial software developer, owner of multiple businesses in the interior design, industry, educator and speaker, I coach women in the interior design industry, to increase their profits, regain ownership of their bottom line, and to have fun again in their business. Welcome to Profit is a Choice. 

Michele  01:12

Hey, Aimee, welcome to the podcast. 

Aimee LaLiberte  01:14

Hi, Michele, thanks for having me. 

Michele  01:15

Oh, it's my pleasure, I'm excited to jump in and have a conversation with you, I know that you and I have shared some time together, outside of course recording, and we're both Profit First professionals, and, you know, support our clients that way. And it was fun, that conversation that we had. And I'm excited that we're going to get to bring kind of some pieces and parts and dig in even deeper on the call today. And what I'd love to do, Aimee is just start by having you share with the listeners a little bit about you and about your background and about the business that you currently have.

Aimee LaLiberte  01:53

Sure. Well, my name is Aimee LaLiberte, and I am the owner of My Virtual CFO. It is a bookkeeping, fractional CFO and mindset coaching practice that I created about five years ago. And this was all around, the reason that I was looking to create this was because I want people to have a relationship with money. And I found that a lot of people don't for whatever reason. And I really wanted to provide some support around that. So it's not just understanding how your business financials work, or how you create any money goal that you set in terms of you know, big financial goals, but then also, how is it the way that you think, and you feel? And how does that create the results as well. And so I've taken all of the like action items like Profit First, and bookkeeping and forecasting, and took the mindset work, and I've created it into what I do for my clients on a day to day basis.

Michele  03:05

And what did you do prior to this iteration five years ago of this business, what were you doing before that?

Aimee LaLiberte  03:12

Yeah, so I spent 20 years in a corporate environment where I built multimillion dollar campaigns for mostly colleges and universities in their fundraising offices. So, you know, I was at times a frontline fundraiser. So I, you know, worked and connected with, with donors in order to ask for transformative gifts for the organization. I was the person who also created the back end operations as well as the financial structures to, you know, do we have like, the customer, you know, like, well, what we would consider our business customers, but for them, like their donor base to create the goals that they've set, do those donors, those prospective donors have the capacity in terms of financial capacity? And where are we in our relationship with them in order to have a conversation in regards to making transformative gifts to the organization and so I worked a lot with finance in terms of doing that. I would oversee the finance department. So I had this very, frontline, front and back office skill set that I had developed over 20 years. I found that, okay, there are major universities that are using the skill set that I have. I actually think I can take this and bring it into small business and really help small business owners create the types of businesses that serve them serve their clients and have greater impact. So, it was just sort of this evolution, if you will, of just wanting to step out on my own and create and make this available to people who I don't think there are a lot of us that can create this and do this for six and seven figure businesses.

Michele  05:11

I would agree with that. That sounds fun. Sounds really interesting. How did you find and stumble upon Profit First? 

Aimee LaLiberte  05:19

Yeah. So I always have had an entrepreneurial spirit. And I think that I always knew at some point I was going to have my own business. My first go at business was this design your own dress center for a little girl. I had this website. My oldest daughter was born in 2005. So I started this, like 2006. And I attended, I was involved. I live in New York about two and a half hours outside of New York City. So I go to New York City a lot to do networking and everything. And I was at this event, and there was this business book author that was speaking. The book that he had just written was The Toilet Paper Entrepreneur, and I'm like, Oh my gosh, I'm like mildly obsessed with this guy. Like, he just had such a fun spirit. And I just loved how he created this very lightness to business. And so I you know, met Mike Michalowicz and, and we kept in touch in terms of just watching how everything unfolded. And then when Profit First came out, I still hadn't started my own business yet. But I just remember buying the book, reading it and thinking this is transformative. This is so simple and easy. And businesses that will implement this will forever change their relationship with their business financials. And so when fast forward to 2017, when I started my own business, it was the first thing that I did, I circled back into Profit First, and like, how do I become certified? That's how it all unfolded.

Michele  06:58

Yeah, I thought I had been teaching a lot of the similar principles about, parsing out your money, saving your money out and different things. And I know that I had a client at the time, back in 2015, not long after the book came out, they sent it to me, and they're like, Michele, this guy, like I didn't know about the Pumpkin Plan. I didn't know about Toilet Paper Entrepreneur at that point. But they sent me the book. And they're like, you have actually read it to me, but they sent me the title. They said, you have to go get this book. Because this guy sounds like you like he's saying the same things. He's even using some of the same analogies. And I'm like, I don't know this guy. So I ordered it, of course through Amazon. And you know, we're all in a crazy time right now. We're prime means three days, right? Prime meant the next day. And so I ordered it had it on my doorstep. And I devoured it in one day. And I picked up the phone and just called and I was like, Okay, this is what I'm already doing and teaching, like, how do I get to be a part of this? Like, what, how do we work together, and they had just formed Profit First professionals at that point. And I called in August, and right behind that they had, I think it was like two weeks later, up in New Jersey, they had the first Profit First professionals event, and I just signed up right then and I got a plane ticket knew nobody flew up there. I'm like, I'm in because I already know this works, because I'm already doing like a lighter version of it on my own and teaching it. And I know that it works. And so I love it. Of course, now I've devoured Toilet Paper Entrepreneur, and the Pumpkin Plan. And I'll put links to all of those in the show notes. Because I think they're all excellent. Along with the new Fix This Next. I like that one a lot as well. So,

Aimee LaLiberte  08:48

Yeah,  the other thing I wanted to mention was that I think the thing that was really great about it was I think every book that he has is so like the it touches upon some component of business. And again, I think it's just the accessibility of the way that he's able to write makes, like business acumen, so relatable and easy and tangible to understand. And then you actually are motivated and inspired to take action.

Michele  09:18

I would agree with that. It that's why I love it. I I've had him on the podcast multiple times and have done different events and things with him. And one of the things I always said to him is I was like, it's so funny to me that he grew up in the north. I grew up in the south, but so many of our analogies and so many ways that we've expressed things, and I think that's the beauty of it is he does bring it these ideas to a level that it can be consumed. Right by everybody really. And I think that that's a talent that is really a talent because, you know, so many people write at a level and speak at a level that they're trying to make it so far over everybody else's head to make themselves sound important. And Mike does the absolute opposite of that. He's like, how can I take any concept and break it down and make it so that you can consume it and understand it and simplify it and put it into practice. And I think that's part of what makes his books and his teachings and what he does so relatable. So it's cool that we both have done that and enjoyed it and found some of the same benefit. And Aimee, one of the things that you and I talked about a lot, and you kind of touched on it, in your introduction, was about relationship with money, that money, you know, how we see it, I just had a call prior to us recording this podcast where I was talking to another business owner, and we were talking about the fact that money is not moral, it doesn't have a morality, right. It's what we do with it and how we handle it. It's our choices that that are morally inclined, but it is just an object and more money is an object, it does not have that morality, yet, we tend to tie certain thought processes moralities relationships, to having money, lack of money, how money was looked at and viewed how we look at people that have money and don't have money. And, and I know, that's where you've spent some of your time digging into, talk to us a little bit about what it means to even have a relationship with money. 

Aimee LaLiberte  11:30

Yeah, yeah. I mean, for me, one of the thoughts that I have is like, money is neutral. And I know that for some people, they're like, what, and it's like, well, no, like, our thoughts about money is what makes it like, feel a neutral, but money is neutral. But in terms of the relationship, that with money, I grew up, I was fascinated by just the way that money was exchanged, and like the transacting, and I just remember, like, as a kid always, like observing the way that my parents would pay for things and how, like, all of it, and then when they were making purchasing decisions, and like watching them, like go through their process, and I always just felt like I observed all of it. And the thought that I always had growing up was like, you know, money, commerce, like, this is important. This is like an important part of like, being a human in this world, in this this capitalistic world that we, you know, find ourselves in. And, and so, I always knew it was important, and but I also had this relationship with it in terms of like, you work hard, and you earn money. And so, and that was, again, I come from a blue collar family. Again, my parents worked a lot of hours, and I just always related it to if you work really hard, then you make money. And, and then, all of a sudden, like I was 18. Well, even before that, I remember looking at like starting to look at colleges and to apply to as a high schooler, and I was poised to be the first person in my family to go away to college, my parents both had some college education, but I was going to go to college, get a degree, that was the plan. And I just remember thinking, like, this is my big my first big financial decision I'm going to make as an adult, like, I really need to understand how this all works. And so at 18, a lot of really interesting things started to happen in my life personally like to start my parents separated. And I was going off to college, and my parents financial situation had dramatically changed, and both of them had filed for bankruptcy. And it was clear that my financing of my college education was going to be like for me to do it self funded. And, and it was the first time that I felt like, I have no idea how I'm going to do this, I know I am going to do it. And I'm going to figure this out. So I learned really quickly about how to have a relationship with money. But what I didn't realize at that time that was such a pivotal, like part of my life, and I think really the trajectory of why I built a career around money. And it was that I thought that like all of it was a problem. Like, my parents, like not having enough money and having to file bankruptcy was like the worst thing that could have ever happened. You know, and that the fact that I had to work three jobs to pay for college like I didn't mind because I felt like working hard was good. But I just felt that there was this hustle mentality and as time has gone on, I've found that what I have really exists Are those all true? Was it the worst thing that my parents filed for bankruptcy. And as a matter of fact, it really wasn't, it was probably one of like, the best things that could have happened to me because I learned how to manage money. I learned how to advocate for myself, I learned how to, like really take ownership and to have a relationship with money. And I know that and I've also learned about how I, what do I make money mean? And how do I use money in order to create the life that I want to have? And it's not about the money as in, like, what's the amount on the what's the amount and the bank account? It really is about what is the money, what are my thoughts around the money? What are my thoughts around the circumstances that have occurred in my life around money? And are those thoughts that serve me? And are those thoughts that are going to help me create what I want to do next in terms of my relationship with money?

Michele  16:00

Wow, that's a big lesson to learn it, but 18? 

Aimee LaLiberte  16:03

Mm hmm. Yeah. Yeah, no doubt. 

Michele  16:07

I think I think you touched on something as well, Aimee. And that is the idea that working hard equates to more and more and more money. That's not a truth that holds out in all of society, and around the world. I think that somehow, we've gotten this idea that the harder you work, the more you make, and there is some truth to that. But I've also seen businesses I'm sure you have as well, that were really, really hard, and they don't make money, or they're in an industry where there's not a lot to be made. Right, or you look at I mean, look at some of our public servants that are working really, really hard, but their earning capacity is capped. And that's why when we talk about being an earner versus an under earner, it's not about a number. Right? Yeah, it's about it's about so much more than that. I remember, learning the lesson early on, used to always kind of correlate, you know, they would say that, if you if you work hard, you will succeed. What I've seen, I've worked hard and not succeeded at things I've seen people work really, really hard and not succeed. And so I think sometimes breaking apart the constructs that we've held, can really kind of shake us when we realized that they were never true. Anyway, I'm not saying there aren't aspects of it that hold truth, you know, but just even that same idea that money is not neutral, or that money has morality and realizing that those things are not the case. It's about our thoughts or realizing that you could work hard, and still not make money or not make enough money. It doesn't mean we don't put things into practice to try to fix that. But I know some really, really hard working people that are not multimillionaires, and I know some multimillionaires that struck it rich by hitting on something really great, and they don't work very hard. And so you know that that's just part of the relationship with all of this currency, if you will, that we kind of have to make peace with and figure out what we want to do that making money also doesn't mean we have to kill ourselves by Hustle, Hustle, Hustle, Hustle.

Aimee LaLiberte  18:23

Yeah, no. And I think that, you know, one of the things that I've learned in terms of, of having my own business is, I think that the business that I have built so far, there's that, like, there's the hustle that has been built in for it. But it's also been the, openness to the experience. I remember, you know, whenever I talk to, newly started, fresh, business owners that are just getting started. They're, how did you get to where you are? And it's, really about, I got a client, I served the client, and my business has been built off of referrals. And, so if I, if you were to turn around and say, day one, Aimee's business day one, how are you going to do that? I wouldn't have told you, oh, Michele, I'm going to  find someone and serve them and go okay, I have to go join this chamber and go to the networking events, and do this and do that. And they give you this whole menu recipe to do list like I definitely had that hustle mindset, which I think was helpful to me. But what I found, every time I've grown my business, it has been when I've let go of this pre determined agenda that I've had about myself, that you need to work really hard in order to get ahead. That thought of that really like work hard, required, as soon as I dropped that and said, I believe in myself, I believe that clients are coming. I believe I have something that people really need, and they want, and they're waiting for me to to become available for them. It's always unfolded. I know that that sounds like completely counter to like a hustle thing. But it really is, it's it's almost like just stepping into the belief that what you have a skill set is available for someone and that every there's always somebody who needs what you do. And for me knowing that like after working for over 20 years and with money, it's such a delicate topic. It's a topic that is very sensitive. And you know, business owners, they don't get into business, they unless they're like bookkeepers, accountants CFOs, you know, they're not in business, because they wanted to manage their business finances, they are doing it because they have a service, a skill, a product that they want to bring to market and they want to monetize it, they're not doing it in order to make sure that the business financials are all in place. And so really be believing that and believing that people like want what you have to give and what you have to offer. It's a like, it's really the mindset piece of it. And, it's really interesting, when you like, I've worked with clients that are like, we're just going to work harder, you know, because their thought is if I work harder, I'm going to get there. And, and it's like, well, no, I think that, you know, there's other pieces to it like hard working hard is not the only ingredient in the recipe to like, quote unquote, success in terms of like creating any financial goal you wish to create.

Michele  21:54

Yeah, you know, what's interesting about that is and I made a note of it is, it's the word believing, right? I know that one of the things that, that I teach and preach and scream from the mountaintops says, do what you love doing, serve, I always say serve their socks offs, just serve them, right? Price it properly and serve them and the rest is going to take care of itself as far as the ability to make money. And when you work hard, we want to work hard doing the right things. Because it's also easy to get caught up in the mentality of working hard meaning spiraling out of control, doing a bunch of things, doing things that are not going to pay off in the long run. And so it you know, there are times that we all have to hustle we just do as part of it. But it doesn't mean that it's all the day and all the time there has to be periods of rest and periods of refreshing. And our own firms. If not, I mean, my goodness, that's not a form I want to go to work for, right, that's going to drive me into the ground every day. 

Aimee LaLiberte  23:00

No, I agree. About 18 months ago when on this whole journey to really evaluate my time and evaluate the way that I had was choosing to spend time and the fact that, you know, I had found myself, overworking and I found myself working till like 2am. And like, just like believing that like this was this was my path, but I was exhausted. And when I just started to examine, like, this is not why I started this business. This is not what I preach to my clients. Why is it that I would never want to hear my clients doing this, and yet it's acceptable to me. And it was really that moment where I had to take a step back and say, okay, Something's got to give, what do I need to do? And for me, you know, my pathway to that was examining that I had a pricing thing that I had to address. I had clients that were amazing, but they didn't fit the profile of the type of client that I was looking to serve. And, so I really needed to do a modification and a pivot in my business. And it was scary. And it was like, my brain was like, we can just keep working or, you know, we can do this we can do that. And then I also had to hire people I had to hire support in order to make this work. And I think these are very, you know, these could be perceived as like, okay, those are very basic realizations, but they're equally scary. You know, when you start adding employees to your team, it becomes you become responsible for for them in terms of like providing them their livelihood. You know, when you you're deciding that a client is no longer a good fit for you, you have to feel like there's a relationship. And there's a rapport that's built there that you want them to get the support that they want. So it's, there's a give and take. But ultimately, I know that this analogy is used a lot. But it's like, you know, you have to put your mask on first before you put anyone else's on. And I really needed to start to put myself first, in order to be the best version of myself for my clients, for my family for myself. 

Michele  25:33

And it's so easy to not do that, you know, it's so easy to think that we're actually serving by doing for everybody, but ourselves and kind of putting ourselves at the end. And, you know, I've been in business for myself since 2000. And, you know, I've seen different iterations as I've gone through things where the business is going and going and going, and all of a sudden, you find yourself in this place where you're like, I love what I do, but I don't love the way that I'm presenting it to the world or her tone. I love the way that it is in its current iteration, Something's got to give. And usually, for me, that happens when I'm to your point, when I'm exhausted. I've shared on the podcast before that I have multiple autoimmune diseases, and one of them is type one diabetes, and it takes that I'm just gonna be honest with you, it is a full time job in and of itself. So if that anybody out there listening, who is a type one diabetic, you know what I mean? Like I do math in my head all day long, I'm constantly trying to determine how much insulin to take not to take, how does that fit in with my activity? How does it fit in with my mood, it fit in with everything. And so that is a stressor on my body, even if I don't feel stressed, right. And so when I'm starting to feel like my health is in decline, or I can watch my blood sugar numbers go up, and I am starting to see these indicators that my health is not at the top of my priority list. Usually it is because I am giving all of that effort and energy to serving other people, whether it be my family, my friends, or my clients. And while I love all these people in my life, like I, I am one of the most blessed women, I believe in that I really, really, really love working with my clients, I get so excited. As I'm sure you do, you know, if the next one I get to get on the phone with or get on a zoom call with or see in person. And that can be all encompassing sometimes, just like you know, when you're taking care of a child and, and you're giving them a lot of attention and a lot of time and we forget that we need to go stop and eat that I had to get to the point where I had to actually type in go eat lunch on my calendar. Or it would be easy for me to skip my own lunch, which, you know, for me creates a whole nother set of issues. And so just taking that step back, and realizing that to have a successful business is not just about income. It's not just about salary. It's not just about net profit, those things matter. But profit is about so much more. That's why I do the podcast, the way that I do it. being profitable is about so much more than $1 figure, right? It just really is I even talk to my clients about profit bursting their time, as you mentioned time. I'm like it is a currency. And we profit first our time, by the way that we manage our calendar. And if we don't do that, it's easy to have time overruns the same way that we would have financial overruns in our business.

Aimee LaLiberte  28:46

Yeah. So it's really interesting that you say that. So last year, they said, I did this complete, like my goal. Well, the part that's this is really. So I don't know if you have this, like you pick a word of the year. And so I don't normally do that kind of thing. But last year, I felt compelled to do so. And in January of 2020, the my word of the year was space. Little did I know I was gonna get all the space that I needed.

Michele  29:17

You probably get your space, my space. 

Aimee LaLiberte  29:19

And it was kind of like oh my gosh, this is so funny. But I started I started working with a coach who is who specializes in time and productivity. And she created this co-created this whole system that she that's called Monday RR1. And so I started using that as a plan to block time and to create a really intentional schedule around time. And what I found was that I had a lot of thoughts about time and how I was spending my time and this self judgment I had about like free time and what that meant and all and it was this really interesting exercise. And what I took away from that experience was, there was a lot of time that I was spent working. As I said earlier, I would say to her jokingly, I was like, it's almost like, like profit first for time. And if you think about like, the target allocation percentages, if you're trying to get where you are now to like the optimal, optimal stuff, it's not like you can, I mean, yeah, if something happened, if I all of a sudden it was, Aimee will like for many of us, Aimee, you're you're only working 30 hours a week. That's all you have available to do all your work. Use your time wisely. I mean, I could definitely make that that that pivot. Right. Parkinson's law, right Parkinson's Law. But I think we found in terms of like, keeping and maintaining the essence and the intentionality of profit. First, it's about the slow incrementals, which is why with a quarterly implementation, it's six to eight quarters, typically, to get to that optimized level, because we're not going to turn around. And if you're at 70%, and op x, and we need to get you to 50, we're not going to turn around and take 20% in decreased expenses in a quarter, because there's going to be like negative consequences to doing that. So we do it in a very slow, intentional way, like, like when does with dieting. So it's a time as the same way. And I was like, yeah, it's almost like, if you can't make the radical transformation with time, if you could do it in like a profit first target allocation percentage, you know, you're going to create maybe longer term progress, and you'll be able to in and be able to sustain it at that level, simply because you're, you've done it in a very slow, intentional way, and not where it would cause I guess, like withdrawal, if you will live like, you know, recoil. 

Michele  31:55

I agree. And maybe you've heard of the book and the Miracle Morning. And it you know, it is sharing with us on pretty much how to put the most important things at the beginning of the day to make sure that they get done, and then focus on other things. And I want to say it's about two years ago, I started realizing that the Miracle Morning wasn't just meant for my own personal, get these things done, and then go to work. So I started creating Miracle Morning for me personally. And then the Miracle Morning for my business, you know, and on the personal side, it's all about making sure you drink your water, and then you know, pray or meditate and you write and you do your workout. And so I really sat down and started thinking what are some of the most important things in my business that needs to get done for me to feel free to pour out on everybody else. And that first hour of my day is spent me pouring into my business. So that then by the time I start meeting with my first client at 9am, I've already been to work enough that I've gotten a majority of those things done that now I feel like my brain and my body can rest and I can serve, you know what I mean? versus that feeling of always being either behind or I'm not where I need to be or cramming and things I don't need to the other big question that I asked myself quite often is does it need to be done? Does it need? You know, I think it is. And let me back up a second. I'm going to, I'm pretty sure it was in Toilet Paper Entrepreneur. One of Mike's questions in there is do we need to buy it? It could have even been in Profit First, do we need to buy it? Do we need to buy it now? What happens if I wait one more day? So my question to myself is, does it need to be done? Am I the one that needs to do it? And does it need to be done today? And that has given me a lot of freedom to identify if I am the one who needs to do it? When is the best time to do it? Can it wait? can it not wait? Or do I need to hand it off? Do I need to delegate it? And then mixing that in with you know Rory Vaden's kind of conversation about urgent and important and significant? Is this significant? So yeah, the building's not going to burn down if I don't do it today. But if I go ahead and do it today, the building's not going to burn down tomorrow. Right? And just again, profit first thing, if you will, choosing what is most profitable for my thoughts, for my time activities, and for my money and understanding there is there honestly, is a relationship among all of that. Because it is it does nobody any good to make huge amounts of money and be exhausted and burnout and depressed and have no way to spend it like that's miserable. I'd rather have less money and be joyful and happy. And you know, then the opposite of it. So our relationship with all of these currencies, if you will really matters.

Aimee LaLiberte  34:53

Yeah, no, I agree. You know, it's interesting because, you know, there's that There's this whole notion of, you know, when you're scaling a business, whether it's you're trying to create your first client, your first six figures, your first seven figures, I think that there is sometimes a part of your brain, well, I should speak about my brain, because that's the one I'm the most, you know, the expert at is that, it's that things are going to, like, it'll be so much better over there. When I hit this, it will be better when this happens, it will be better. And that's not necessarily true. It's like, what am I enjoying about the present moment? And what do I love about this? Because I think my future version of myself wants me to be loving and respectful and honor, like where I am here. And like, where I'm going, but not to think that like, it's just going to get better over there. Because I think, you know, when you're getting your first client, you think it's going to be like, the best when you get your first client, but getting your first client getting your 100th client, it's, it's like, what if they're this thing? What if they're the same? What if we just think about the fact that like, we have gratitude, and we appreciate, all in the same, that there's another person, another business that we get to serve, you know, for me, when any, whenever anyone comes to me and says, you know, like, I, I want your, you know, I want to work with you, there's a joy, and, and I guess, joy with a combination of calmness around like, this is someone who's ready to have the most amazing relationship with their money, that they are willing to go all in and understand what it is to them to have money. And, and I just I do I think that it's not about it's not about the destination, it's about the journey and the unfolding along the way.

Michele  37:05

I couldn't agree with that more, I kind of liken it to raising children. So I'm at a point where both my kids are grown. Nobody lives here, we've already had one wedding. And you know, I remember that book, What to Expect When You're Expecting. And that book is constantly telling you like what's coming where you are and where you're going? Well, that one didn't freak me out so much as the one what to expect the first year. And with my eldest son, I can remember having that book and reading it and always trying to compare where I am to where I thought I should be right, or where my child should be. So everything was this race for the next thing. And I finally remember one day realizing, I'm so busy looking for the next milestone, that I'm missing the joy for the milestone that that we're currently achieving, like, I'm so ready, I'm so busy watching for him to walk, then I'm missing the joy of watching him crawl or sit up, or, you know, do that little back and forth, scoot that they do the army crawl or whatever. And I throw the book away. And I thought I am done with that I'm done. I want to love and enjoy my children, from the moment that I have them through their entire life for exactly where they are. And I think that is the same mindset we have to take into our business, we have to sit back and think to ourselves, it doesn't always get better, it doesn't always get easier, it might get easier in some regards. But it gets more difficult and other are more complex, and other areas. So it's about being as in tune and as excited about the process of where you're going as it is to where you are going. Because I've yet to meet somebody who I'm going to put in air quotes, got to where they thought they should be, and said, Okay, well, that's good. Now let's go on vacation and be done. What they did was they set the next goal. So they were always reaching and going instead of appreciating where they were. If they didn't do that intentionally. It's not it doesn't happen. without there being some intent to say, I'm going to slow down enough to look at and appreciate and celebrate kind of these tiny milestones in these tiny progressions, or even just if there is a season of sitting still right, and it's the right and the best thing for me and for my business, my health, my family, my clients, and then moving forward again. I just think there's so much fulfillment that we lose. And I certainly think the way that that we are marketing these days, you know where there's Instagram and everything else and it's constantly showing us what everybody else has and what they don't. You know, it shows the family and they're all smiling and you have no idea that because you weren't there that they were all fighting and bickering in the background three seconds before it So you're looking at your family bickering and fighting, and you're looking at their beautiful family. And we're always, if we're not careful, feeling less than or light, we're not able to keep up with that, you know? 

Aimee LaLiberte  40:11

Yeah,, for sure. And I think, yeah, when it comes to, to business, it's, you know, if you're someone who aspires to be at seven figures, and you're surrounded, like, there's people in your world who are already there at seven figures, and, you know, in your head, you're like, wow, they must like, have like, the best life and it must be going so well. And you know, little Do you know that, you know, they haven't implemented profit first. And perhaps like, they've barely made payroll, and they might have the vanity of like a high revenue number, but perhaps like, they're just really unhappy, perhaps they're just tired, and they're burnt out. And they just don't even know how to get off the hamster wheel, like you really just don't know. And so the whole like, notion of like the compare and despair, whether it's to other to others, or to yourself and the versions of yourself, I don't know how of like service that is, you know, I can I have three kids. And I remember, like, with my first it was like, the first time around, so like, everything was, Oh, my gosh, you know, and I had this more frantic, I need to figure it out attitude. And then I remember with my second, it was more alright, this is how it happened. And not to say that that was a guarantee of how it was going to, like, unfold that time. But for me, it was the nighttime feedings. And it was like, you know, I remember how much of a like, I don't think I want to be able to sleep through the night. And I remember with my second, I just, I had a stack of books. And I was like, I'm just going to enjoy this, I'm just going to feed her and I'm going to read a book, and it's going to be great. And it was amazing. And that was just not the way that I thought about it the first time around. But, you know, I think that you like what you learn the first time, the second time, the third time and how it like, you can take that with you. I think it's the same thing with business. For me, it comes down to like, I'm creating a new program. And, you know, there's a lot of resistance around if I build it will they come? And then it's just really about? Well, of course, like this is these are thoughts I have when I was just starting out, like building my practice. And now it's great. And so I just have to believe that this is the thing. And it really just comes down to and it's not about, like for me, you know, at this point, this building of this next program, it's like I want to have more successful profitable businesses on this planet. Because profitable small business is the bedrock of our economy. It is the bedrock of local communities, and if my skill and wisdom can help support them, create sustainability, profitability, and have the life that they have always wanted to have, and they want to do so through entrepreneurship, I want to be there to help them.

Michele  43:25

That's that's exactly the way I feel about it. Aimee, look, we're over here building businesses, doing something that we love to do, whether it is you know, interior design, or a whether it is jewelry making, it doesn't matter, right? Coaching, bookkeeping, CFO, whatever, we're building these businesses, because it's something that we love, and that brings us joy. And so the more that we make money doing it, the more that money goes into the economy, to take care of others and to employ others and to keep, like you said, cities and municipalities and, and all running. And it's, it's just, my gosh, why would we not do it to the best of our ability, and share what we have to the best of our ability, just like everybody else is trying to do it. And you made a point a minute ago, and I wrote something down. You know, it is that truly that belief that decisions and actions starts with our mindset. It starts with what we believe. If we believe something, then we see how we are in that belief system. And then we act it out. I've worked with people, sometimes they'll call me and say, I think I want to go back and work for somebody else or work corporate or, you know, I want to get out of owning my own business. And I'm like, totally fine, I get it. That happens. No big deal. But let me ask you this first. Are you willing to go work for somebody else? And like, fight for their brand and fight for their company? And they're like, Yes, I am. I'm like, Okay, great. So did you do the same level of fighting for your own that you are willing to Go do for theirs. And if you did, and you're still ready to walk away, walk away. And it's interesting to me how many will say, you know what, I don't know that I really have fought for my own company, the same way that I'm willing to go fight for somebody else's. And that's when we kind of noticed the delta between what they think they believe in what they really believe about their business, their abilities, you know, where's their confidence? Where is it not? And that really opens up an awesome conversation on why are they doing what they're doing?

Aimee LaLiberte  45:33

Yeah, absolutely. I remember, I got this one incredible piece of advice from a mentor. And it was I was recruited to take this very, this awesome position. And what she said was like, yeah, that positions amazing, you're going to do great at it, we know that. Are you? Do you want that position? Because you want that position? Or are you leaving your current position? Because you just want out? And she said, there's nothing wrong with your answer. But before you go into this new position, make sure that you like, I understand the intention behind that. And I thought that that was invaluable, because, you know, I felt like I went into that position with a, with a cleaner mindset. And with like, almost a reconciliation, if you will, of the current the job I had left, and how it didn't unfold quite, it didn't like it didn't create, the type of promotional elements that I wanted it to. And, I was more upset about that, then, you know, was a more upset about that, or more excited about this new opportunity. And I thought, and as soon as she said that I really need to come to terms with, the disappointment that this didn't turn out the way that I wanted it to. And I'm going to clean that up, and then go into this new position with a clean slate. And I think that's the same thing when it comes to business. I think it comes that way. When, when prospective clients come to me, and they have these thoughts about like, I'm no good at money, I don't ever seem to have enough money. You know, whatever variety of thought that is. And it's really about, are you open to doing the work in your mind, to change those thoughts, because thoughts that I'm not good at money will not create the type of results that you dream of. And if you're willing to put forth and really start poking holes in that, that those that whole belief system, you're really going to open yourself to that transformation.

Michele  47:43

I had a client earlier, I think it was even yesterday, and she had over time has been told, you're not great at money, you're not good at business, you're just too creative, you're not great at money, you're not great at business, you're just a creative. And we're working together. And she has every ability to do what I am coaching and guiding her to do with regards to understanding and managing the financials of her firm. But because others have told her that it has put up a wall, for her own belief for what she cannot do, it's kind of like, if you were to tell somebody, you know, I don't even remember, Aimee, there was a study done, where, like a, they put like an animal in a cage. And they opened the door and every time the animal would start to go out, they would buzz and put him back in and shut the door, put him back in and shut the door. And then it finally got to the point that they could leave them in the cage and leave the door open, the animal would never walk out. Because they were told right or conditioned to believe that they could not leave that cage, when in actuality they could they were no longer being buzzed. There was no door on the cage. But they stayed there. Because they had been conditioned to believe that that was the case. And I see so many people that for whatever reason, either it's because of a childhood belief is because maybe they did bad on a math test one time in their life. Maybe they have a spouse, who doesn't want them to know that they can do certain thing. I don't know, there's a whole I can give you a list of those reasons. I'm certain you've seen them as well. But they have an idea that they just cannot do any of these things. And that is that is Truthfully, I think the biggest hurdle that I have to help them get over and probably you as well, before we ever do the work of the numbers, like I always tell him, you've got a calculator, we can sum in Excel, like we've got tools to help. You have to believe that you can go in and do it and understand I can help you do it and understand it. But you've got to you got to be willing to say I can do this. Because if you say that, like nobody can stop you. 

Aimee LaLiberte  49:54

Yeah, absolutely. You know, it's interesting because I think about you know, the game Jenga. Yes. Okay. So I think about that as like a belief structure. And, and so if we start, like really pegging holes, and each one of those blocks is a belief that built that structure. And so when it comes to money, if we start poking holes at all of those different thoughts, you know, the ones at the very top, those are the ones that are in our conscious mind, right? So we're like, where have them and everything? But then like, what are the ones that are like at the bottom? And if we can really start to examine what those are, and then decide, you know what, this is not a thought I'm taking with me into this next version of myself. And then you really just start to take each one of those apart, you then like in Jenga, the whole structure falls. And then you're able to create a new belief structure. The thing is, is that I think that in our culture, there's this whole, like, we have to be in a great hurry. And this type of work takes time, can you create transformation in a relatively quick amount of time? Yes, but you have to be willing to show up and do the work. People that go on weight loss journeys, don't just go from, like, where they are now to like 25 pounds in like a day, they obviously are spending a lot of time practicing their thought works, you know, following what they're eating, and like doing all the work that they need to do to create the results. That is a 25 pound weight loss. The same goes when it comes to our money mindset. This isn't Oh, I did my mindset work for the day, I'm good to go. You know, like for anyone who has been told, I'm not good at money, then, like, that's probably been drilled into them a lot. And they really need to examine, like, Where did that come from? How does that work? I mean, my dad, the things that he would say would be like, money doesn't grow on trees. And do you think I'm the Bank of America, and it wasn't like in a like, haha, but it was this constant. I think he just like really felt he was out money was always leaving money was always leaving. And really, to the point where, I realized that, you know, money leaves, but also money comes in. And when I when money does leave, I'm making intentional decisions behind it. And I love all my reasons for when it goes, and I'm opening it up for to come back like to come back in. That sounds so basic, but really doing the work like you had said earlier, Michele, what are your most profitable thoughts? I thought that was brilliant. Because I thought, Yeah, what are the thoughts that you're having that are serving you that you're like, I love this thought it makes me feel so amazing, and abundant? Like, what are those thoughts? versus what are your scarcity thoughts? You know, on occasion, whenever I'm starting new things I at the thought is like, again, you know, childhood parents bankrupt, you know, like the house was foreclosed on, you know, it was like, it's always that I'm going to be living under a bridge and of AB like, like it I still at 42 will have that thought. And then I just like, but like, by my time in that thought is very short lived, because I'm like, No, of course, that's not the case. Because I've done this, and I've done this, and I have this. I think that you know, when you're just starting out, and you're really examining the thoughts that no longer serve you. They're like blankies, like, you know, they can be hard to let go of because they've been with you for so long.

Michele  53:40

I think it's interesting that you say it 42 years, still recognizing some of these, I'm almost 54. And I'm still recognizing thought patterns or belief systems that I did not even realize were attached to certain things like that, you know, they're still coming up, because they sometimes show up in different forms. And they're not always negative. But it might be an association. That's not good. And I know one of the things that we've even taught our boys over the years, is we would not let them say things like I can't afford that. Because that very much sounds victim ish, you know what I mean? And so instead, what we taught them to say was, I am choosing not to afford that at this time, or I'm choosing not to spend my money on that, to make them realize they had a choice, you know, because there's that also that saying, if you really want it badly enough, you'll find a way to afford it, which is true for a lot of things. And I'm not saying there aren't some things that we just cannot afford, like I cannot afford, you know, a $75 million mansion somewhere. I can't afford that. But I'm talking about within the realm of reasonable for how we spend our money. Because I could afford a really great car and not have a house to live in. I could check it make that choice. It wouldn't be prudent, but I could make it and teaching the boys instead of speaking as a victim, or as if there's no money or is saying, This is the money I have, and this is how I am choosing to spend it, because this is what I value. This is what I believe is important for now. And this is what's important for later.

Aimee LaLiberte  55:17

That is the relationship that you have with money, right. And so it's, you know, there are, it could very well be that someone loves the idea of like, using credit cards to create a lifestyle, right? I don't want to do that. Like, that's not for me. And but like if that person, if that's what they want to do. And that's how they have a relationship with money. It's Is it like, I don't think my way is right, and their way is wrong, I think my way is the preferred way to be because that's how, like, my thoughts and my beliefs on money are built the way that they are. That that serves me in that capacity. And, you know, the person that uses credit cards, like, I mean, that serves them. I mean, that's definitely like in terms of like profit first stuff, like things that we we don't want our clients to do, because, you know, leveraging that kind of stuff definitely can hinder their growth to profitability. But at the same time, if if they don't have an interest in maximizing their profitability, and they're like, like their choices, their intentional choices are to live in the moment. And to do that, like, you know, it's it's more of the awareness of where you are with your money, and making intentional decisions out of that awareness.

Michele  56:43

I'm just sitting here thinking about the fact that, you know, again, how we choose to spend our money, how we choose to consider the fact that we can make money, make more money, you know, and it might not mean make more money doing the same thing we just did, it might we might have to do something else or make different choices. But I also think about money as security. And so to your point about living kind of stretched out on credit cards versus a more pay as you go model. That was one of the things when I look back As for me, I would say a relationship with money that I wanted to keep, we talked a lot about relationships with money that we would want to throw away or poke a hole in, I'm using your terminology. But I know my mom and dad were I mean, I grew up in the time when there were no ATM cards. And not until I was you know, older. So we certainly didn't have them when I was a little girl, we might have had layaway and you might get have an account at like a little local store, but you paid it off the minute you get paid. Back then a lot of people were only being paid once a month, they weren't being paid weekly or bi weekly, it was just a different time. And I can remember asking my parents sometimes like, how are some of these other people doing the things they're doing, and we're not doing him. And my dad and mom both sat down and talked to us about the security of planning for our future and living within our means. And you know, they say we may not have what they have. And it's not because we couldn't, it's because we're choosing to save for our future or we're choosing to invest here, or we're choosing to save for that we're choosing actually a lot of different things instead of one thing. And they really helped me understand how to tie current and future security, to spending habits and to telling myself Yes, in some cases and knowing others, and how to plan and anticipate what was coming in how to save for the rainy day. So I had I had, oh my gosh, a heck of a lot of really great money lessons that I carried with me into adulthood that have served me really, really well that I've passed on to my kids. And then again, I heard the whole money doesn't grow on trees. What do you think I am an ATM. I mean, of course, I heard some of those too. And, you know, I lived in a small town and I had family members that spent every dollar they had and other saved every dollar they had. And so I saw kind of the juxtaposition of all of that, and got to form some of my own opinions. Um, but it did those things do really, from your childhood carry into your future and how you spend and how you save and what you spend on and what you what you think about nest egg being for the future, if you will, and you know, and however you choose to do that. So I think it's worth us all taking the time to sit down and reflect on the choices that we're making kind of our our own little business Jenga, right and poking a few holes and seeing if it's going to hold what will the structure do if I take that out?

Aimee LaLiberte  59:48

Mm hmm. Absolutely. And I think that is that's like the life work of relationships, with relationships, in general relationship with yourself, with your family with yourself. significant other. Also in this, like in the context of what we're talking about today is like the relationship with money. And knowing that, you know, there's some things that you there's some parts of your relationship with money that are going to continue to need work. And that's okay. That's normal. Nothing has gone wrong.

Michele  1:00:20

I'd love it. Me tell everybody where they can find you online. Where are you hanging out online?

Aimee LaLiberte  1:00:26

Absolutely. So you can find me at on my website at myvirtualcfo.co. And I'm also on Instagram @myvirtual CFO.

Michele  1:00:38

Awesome. Well, thank you so much for this conversation today. I really enjoyed it. I always think it's fun to, to think about this side of money, right? Not just the making of money, but what do we believe about it and the earning of it and the spending in the saving of it? And, you know, what, what serving us and what's not serving us, and I really just appreciate you having that conversation with us today. 

Aimee LaLiberte  1:00:59

Thanks. Thanks for having me. 

Michele  1:01:01

Thanks to Aimee for such a great conversation. You know what we believe about money directly impacts our ability to own our finances today? Do you have the ability to make money to manage money and to put it to good use? If not, now is the time to do the inner work to determine what is driving you. You can check out my courses on financials as ScarletThreadConsulting.com, there are three of them Pricing without Emotion®, Understanding Your Financials™, and Master Your Profit®. Each of these will help create and strengthen great money mindsets that lead you toward profitability, not away. And for all you longtime listeners, you can say it with me. Profit doesn't happen by accident. Profit is a Choice is proud to be part of the designnetwork.org where you can discover more design media reaching creative listeners. Thanks for listening, and stay creative and business minded.