Hello C.S. Dorsey

Ep #163: How to grow and scale your business with Michelle Cooper

April 16, 2024 Candice Dorsey Episode 163
Ep #163: How to grow and scale your business with Michelle Cooper
Hello C.S. Dorsey
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Hello C.S. Dorsey
Ep #163: How to grow and scale your business with Michelle Cooper
Apr 16, 2024 Episode 163
Candice Dorsey

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In this episode podcast, guest Michelle Cooper shares her journey from experiencing burnout in a high-stress job to founding her own successful business, Alchemy Accounting and Bookkeeping, and co-founding Sacred Money School.

Michelle discusses the accidental beginnings of her entrepreneurial journey, which started with a boutique business, and how she transitioned to accounting and bookkeeping by helping local business owners understand their finances.

Michelle emphasizes the importance of finding work that lights you up and the realization that more revenue doesn't always equate to more profit, sharing insights on scaling and growing a business profitably.

Her experiences highlight the significance of aligning business goals with personal passions and understanding the reasons behind wanting to scale.

The episode concludes with Michelle's advice to entrepreneurs on staying true to their 'why' and avoiding distractions.

Download the Money Date Workbook which is a tool that helps people set their priorities each week around their money.

00:00 Welcome to the Hello Sears Dorsey Podcast with Michelle Cooper
00:13 Michelle Cooper's Journey: From Burnout to Entrepreneurship
03:16 The Turning Point: A Hello Moment That Changed Everything
06:45 Scaling Your Business: Beyond Revenue
11:40 Redefining Success and Navigating Entrepreneurial Challenges
12:06 Discovering Magic Mind: A Natural Boost for Focus and Energy
19:07 Final Thoughts: Staying True to Your Entrepreneurial Vision

Where to find Michelle?

Website: https://michellebcooper.com/

Facebook URL: https://www.facebook.com/michellebcooper

Instagram URL: https://instagram.com/michellebcooper

Podcast: Rich Life Revolution https://podcasts.apple.com/us/podcast/rich-life-revolution/id1701147638

****

Magic Mind👉🏽https://www.magicmind.com/csdorsey

And get up to 56% off your subscription for the next 10 days with my code 👉🏽CSDORSEY20

Ingredients:

All natural ingredients are sourced from the best suppliers we could find. No sugar, nut-free, vegan, keto, paleo-friendly.

● Matcha → Nature’s extended-release caffeine. Caffeine from matcha takes longer to release and helps to reduce stress


Support the Show.

Follow Me on Instagram: @csdorsey_hello
Listen on Google Podcast | Apple Podcast | iHeart Radio

Show Notes Transcript

Send us a Text Message.

In this episode podcast, guest Michelle Cooper shares her journey from experiencing burnout in a high-stress job to founding her own successful business, Alchemy Accounting and Bookkeeping, and co-founding Sacred Money School.

Michelle discusses the accidental beginnings of her entrepreneurial journey, which started with a boutique business, and how she transitioned to accounting and bookkeeping by helping local business owners understand their finances.

Michelle emphasizes the importance of finding work that lights you up and the realization that more revenue doesn't always equate to more profit, sharing insights on scaling and growing a business profitably.

Her experiences highlight the significance of aligning business goals with personal passions and understanding the reasons behind wanting to scale.

The episode concludes with Michelle's advice to entrepreneurs on staying true to their 'why' and avoiding distractions.

Download the Money Date Workbook which is a tool that helps people set their priorities each week around their money.

00:00 Welcome to the Hello Sears Dorsey Podcast with Michelle Cooper
00:13 Michelle Cooper's Journey: From Burnout to Entrepreneurship
03:16 The Turning Point: A Hello Moment That Changed Everything
06:45 Scaling Your Business: Beyond Revenue
11:40 Redefining Success and Navigating Entrepreneurial Challenges
12:06 Discovering Magic Mind: A Natural Boost for Focus and Energy
19:07 Final Thoughts: Staying True to Your Entrepreneurial Vision

Where to find Michelle?

Website: https://michellebcooper.com/

Facebook URL: https://www.facebook.com/michellebcooper

Instagram URL: https://instagram.com/michellebcooper

Podcast: Rich Life Revolution https://podcasts.apple.com/us/podcast/rich-life-revolution/id1701147638

****

Magic Mind👉🏽https://www.magicmind.com/csdorsey

And get up to 56% off your subscription for the next 10 days with my code 👉🏽CSDORSEY20

Ingredients:

All natural ingredients are sourced from the best suppliers we could find. No sugar, nut-free, vegan, keto, paleo-friendly.

● Matcha → Nature’s extended-release caffeine. Caffeine from matcha takes longer to release and helps to reduce stress


Support the Show.

Follow Me on Instagram: @csdorsey_hello
Listen on Google Podcast | Apple Podcast | iHeart Radio

Welcome back to another episode of the Hello Sears Dorsey podcast. I have Michelle Cooper on the podcast today. How are you doing today, Michelle? I am absolutely fantastic. Thank you so much for having me. Thank you for being on. So can you tell everyone who you are and what you do? Well, I'm Michelle Cooper. I am the founder of Alchemy Accounting and Bookkeeping. I'm also the co founder of Sacred Money School, and I have a podcast myself called Rich Life Revolution. So let's talk about the inspiration behind you starting your business. What was that like for you? Well, my business really started by accident almost. I had been working in a J O B and basically burnt myself out. I had three little people that I was raising and it was hard. I was a fractional CFO and it's a lot of hours and almost, I guess you could say had a bit of a nervous breakdown. And so left that job and. In my kind of like aftermath of that had a really good look at like my life and how I wanted to live my life and realize that I wanted something fun and creative. I was in a second hand bookstore and I looked out the window and I saw this little vacant store shop and I had a for rent sign in the window. And I was like. Oh, wouldn't it be fun to have, like, a fun little cute boutique? So I jumped all in on that, that lasted two years, and I always say that that was my MBA in entrepreneurship. Because before that, I always worked for somebody else. So it was other people's money that I was managing, and this was my money, and I wasn't that great at it, to be honest, even though I have a finance background. But in those 2 years, I met a lot of local business owners and when I decided to close my business, a lot of the people I had met had become friends and they were like, can you help me really understand my numbers? And so I started really just by helping them clean up their finances. Make sense of their business numbers and stuff and help them understand it and feel empowered around it. And I always remember the day my husband said, you're charging people for this, right? And I was like no. And so that that was really the kickoff for my business. I realized that this is a great value that I can provide to people. And it's not, it doesn't come as easy for some as it does for me. And that could actually be a business. This is awesome. I can like totally see myself in you. 100%. I was, I was in the corporate world as well. I did that. Burnt out. Didn't want to deal with the politics of everything. Constantly getting passed up for, you know, for promotions and things and just doing this myself. And then you're like, well, I ran a team. I ran a department. I can totally do this. And you're like, Oh my gosh, what is this? Right? Yes. Yes. So I get like 100%. Yeah, totally. So can you remember a time of your business where you had a hello moment? For sure. I remember I had a friend who said to me, I really, I really need your help. I think that I'm going out of business. I don't know what to do. And and so we met for coffee, and I realized that, like, this was actually affecting his personal life. Like, it was affecting his marriage. It was affecting his relationship with his kids. And so, of course, I jumped to all in and we ended up completely overhauling the business. 18 months later, he sold the business for millions of dollars. And so it was like a complete turnaround. And it was that moment that I was like, this is why I do this, right? Like he went from at the depths of despair and really considering some quite drastic measures in his life. His marriage falling apart, his kids not getting the dad that they needed, to taking his family away to the Bahamas, and You know, celebrating the sale of the business, and now he's moved on to something else and he's super happy. And so it was in that moment that I was like, this is why I do what I do. For those moments, not to, you know you know, make a bit of money or have flexible work hours or work from home or whatever it is. It's really. Because I, I have seen that the financial part of. An entrepreneur's business. And put so much stress on them families fall apart and I think families have a lot of reasons to fall apart as it is, let alone somebody having a business. So that's fixable right? Yeah, definitely. I hear that a lot. I think it was in a was I, I was in a workshop and it was workshop about memberships and they said the person facilitating the workshop said, what is the number 1. Yeah. Stress of an entrepreneur or what's the number one thing that entrepreneur think about the most and it's like it's money. It's money and sure, you know, you going out and you fulfilling your dreams, but your dreams come does come with the price. It does. And I always tell my mom, I say, this is not for the faint, faint of heart. Like you gotta be prepared for the ups, the downs, all arounds. And I've been through all the downs. I have some mini ups, but I'm still doing some downs, right? We all do. Yes. Yes. Yes. But I think of it like I have a story to tell someone when I get to where I'm trying to get to I can tell those who are coming behind me. So I'm like, let's Let's do this journey. So, yeah, I love that for sure. For sure. And like, I remember somebody telling me when I was going through some significant challenges with my business, like one day, this will be a story that you tell and it will inspire other people. It will help them get through those times. And I was like, I don't want to be a story that But, you know, that's what happens, right? It does. It does. And then it's like, well, how long is this story going to last? Right? I'm like, this is lasting too long. Okay. I know. Right. Can we speed the story up, please? Yes. So let's talk about growing and scaling your business. Can you talk more on that? Yeah, well, you know, I think a lot of times entrepreneurs are so focused on revenue generation, right? And you can scale and grow your business in other ways. Like, obviously we need revenue. Your business doesn't exist without revenue. When you are aware of how to manage cash flow, you can you can grow your business a lot more profitably. Right and, you know, 1 of the biggest things that I see is that the business owner is so focused on growing revenue. They're not even looking at the profitability of the business. And sometimes when I sit there and run the numbers and sit there and talk to them we realize that like more revenue doesn't necessarily mean more profit. Often it means less profit because you're putting all this money into the marketing to get more revenue, right? And is that really what they want? Like sometimes it's an external, Like validation or something whereas you could have a really profitable business that. Like, totally suits you and maybe it doesn't look like an 8 figure business or something like that. Right? But maybe you don't need that. So I think that it's important for people to understand why they want to scale or grow. And then get clear on the most profitable way to do that. And I feel like I've made all the mistakes under the sun in doing this, to be honest. And that's why I feel like I can talk about it because, you know, there's, I, I grew my business in the beginning. Like my business is 14 years old and I'd say in those first six or seven years, I grew it in a really unprofitable way. Right. My business is really people centric. Labor is the biggest cost. And that's, it's really expensive when the hiring process and if people don't work out and somebody leaves and all that stuff. And so there's other ways to grow your business without scaling to, you know, a gazillion dollars in revenue or having a giant team or things like that. Right? Like. I think we live in a time right now where starting a business and growing a business is probably the easiest it's ever been, right? Like, you can pretty much start business overnight if you want, right? And it doesn't actually, with AI and all the tools and software and stuff, it doesn't have to cost a lot. Right. So I think it's just really important for people to look at why they want to scale and grow, have really clear goals as to that, and then create a good, profitable strategic plan, which might include. Automation, it's not always just hiring more people to do more stuff, which that's what I thought it was when I was doing it. Yeah. So, yeah I love that. You mentioned that because we hear it all the time. Like, you know. The six and seven figures and the 10 K months and the 20 K months. And I'm personally here lately. I've gotten tired of hearing that. I'm like, look, can I just get 2, 000 and that will cover my bills and me going to Disneyland? Like I'm, I'm okay with that, you know? And I'm like, Candace, are you okay with that? I'm like, yeah, I'm okay with that. I have to keep telling myself that every day I'm okay with it. I would like to get to 10 K months. Because that would definitely like, you know, help my mom in retirement and help pay the mortgage, those types of things. But for right now, I'm like, it's all about cashflow. Like you need to pay these current bills right now, you know? Totally, totally. And I think often we can get caught up in all the, the marketing, the online, you know, persona and all that stuff. Right. And, and I see this all the time. We've got lots of clients who've had. Like really big events and, you know, they're, they're bringing in 300, 000 what they walk away with. Like we had a client who did a 350, 000 launch who ended up with 10, 000 in her pocket after she paid all the bills. And I'm like, so really worth it. Like all the stress, all the stuff, but it was very much, she realized, and it was like I don't know what are those like on your knees moments or come to Jesus moments, whatever you want to call them. Right. And for her, it was like, hang on. I think I've gotten caught up in other people's version of success. Speaking of success. Here's the thing. I always have brain fog with my one cup of coffee in the morning. So I grabbed another cup. Or I make a homemade ice coffee or green tea for that middle of the day boost. However, it only lasts for about an hour and I'm back to feeling stuck again. And sometimes coffee gave me the anxiety feels, you feel me? Instead of grabbing that extra cup of coffee or tea to boost my energy. I just grab a little shot on magic mind. It helps me drink less coffee throughout the day and keeps my energy and focus on point throughout the day. Just enough so that I can focus on doing client work for my business. Magic mind is all natural ingredients, no sugar. Nut-free vegan, keto, and paleo friendly. If you're like me and you have brain fog and need an extra boost to focus, I recommend you try it. Just one shot, get a natural, I mean, natural boost of focus and clarity. You can get it at magic. my.com/ Dorsey with cold is see as Dorsey 20. You also get 56% off your first subscription or 20%. Off your one-time purchase the C as Dorsey 24, 50 6% off. It also works. If you're already a subscriber and you can save all your next scription payment. So if you don't like those jitters shakes and afternoon crashes from the coffee or having trouble being 100% throughout the day, then try magic mind. Need to know what's in it. Check out the ingredients below in the show notes. Again, go to WW dot magic, mind.com or slash C S Dorsey with cold C S Dorsey 20. For up to 56% off your subscription. I get the 30 pack. If I was you. Best value just saying. Before that, she's doing really well. She did have 10 K months. Right and completely self sufficient at 10 K months, which is to meet the ideal scenario. Right? If you don't have to have a big team and a consistent 10 K a month, you do pretty good. Right? So, yeah, it's, it's that external. You know, it's the scrolling on Instagram. Yes, go ahead and say, right. Go ahead and say it. I am guilty of that. Yeah, me too. Me too. I, you know, it was so funny because I was like looking at all this stuff online, like before I even got into the online space and I started following Amy Porterfield. I don't know if you know who that, you know, okay. Yeah. Yeah. So I'm following her and she's talking about digital courses and everything. So I dreamed of getting into DCA digital course Academy, got into digital course Academy. And I'm like, I launched my podcast course, Crickets. Kept doin it, Crickets. Kept doin it, Crickets. And she's like, oh, you have to build your email list. I built my email list, Crickets. Like, I was like, is this what people really want? That you have Right now. I'm like listening to Stu McLaren. He's going through his whole workshop thing. I joined tribe years and years ago. It's phenomenal. Really? Oh, so good. I didn't actually create a membership, but it was so good. His stuff. I was like, Oh, this is so good. Yeah, really? Okay. Yes, we definitely have to talk afterwards. But I'm, I'm right there now. Like I'm trying to do my founding member launch and I have people are like, Oh, this is great. Candace. Yes. It sounds like a good idea. I'm like, great. Go ahead and click that button to, you know, start off. And it's like crickets. Yeah, no one is doing it. And I was like, I was like, I think I may have to just put this in the trash. I've been doing this for like five years now. I'm like, it's time to move on. So it's one of the things it's like, you definitely know when it's time to just move on from that. Yeah. But yeah. And I, you know, I think it's it's also a different it's a, it's a different market now, I think with the economy, the way it is interest rates where they are. I think people don't have as much flexibility with their money and stuff, and I think that people are a little bit more careful, maybe, or decisive or something about where they spend their money. And that changes, like, things like courses and stuff like that. Right. But I also think, and I've been through that same scenario, right? Where the launch a course or a product or something, and it's like nothing. And it's like, this content is so good. Why are people not picking up what I'm throwing down? Like, I don't get it. What am I doing wrong? I believe that everything is kind of like a reflection for you to look at and say, like, is this really what you want to do, right. And for, and that can be. Something that's hard to admit, I think to ourselves sometimes, right? Like I always say to people, they'll be like, I want more money. I'm like more money is the effect of you doing what lights you up, right? Like what, if for you to do what you're called to do, what you feel passionate about doing more money will come naturally. It's the effect. It's not the reason it's not the process. It's the after effect. Right. And that's hard to take when you're trying to pay rent. Right. But it's, I see it over and over again. It's true. I see people similar stories to you where they're like, I've launched this and this and this and this and nothing. And then they're like, I did a pod. I'm doing a podcast and everybody's loving it and they, and they love it. Right. And then that, like, I'm thinking of one friend in particular, then she ended up getting booked to speak at some events. So all of a sudden now she's getting paid to speak, which is really what she loves doing. Interesting. Something to think about. It definitely is. It really is. I love. I love doing challenges like five day challenges, but I don't want to sell nothing at the end. I don't It may sound weird But I love doing I love filling it up organically And I love doing it for five days and I don't want to sell anything at the end. It's so funny because every time I'm I do want, and I try to sell something at the end maybe the recordings or something. It's always someone they say, I want to get on a call with you. So I'm starting to think like, okay, Candace, maybe you should just say, Hey, do you want to get on a 15 call? A 15 minute call with me afterwards, rather than saying, Oh, I have this product that I'm selling at the end and do all the whole stack slides and everything, I said, I might have to switch it up. And I'm so funny. My mom and I was talking about that last night and I was like, I think I'm just gonna have to tell him to book a call with me. Totally. That's a great call to action, right? I also think that people people they want somebody to help them through things. Yeah. Not necessarily just give them a tool and off they go. So yeah, maybe that's a great fit for you. Yeah, I'm gonna have to test that out. I know we're talking about it. It's the second time it came up. So Signal Okay, so any last minute advice you have for our listeners out there I would just think like because we you know touched on scaling and growing a business and stuff. Like I said money is the after effect of really doing what? Lights you up and, and having a solid why behind it. Right. And like, just to be clear on what your goals are for your business and why you have those goals, because it doesn't need to look like somebody else's version. Right. It can just look like you doing your thing. And as much as I don't do this and I need to take my own advice, put some blinders on, because there's a lot of messaging out there to pull you into things that Maybe aren't totally aligned for you. Yeah, totally. So where can everyone find you? I'm on all the socials Michelle B. Cooper, so you can find me there. If you want to check out my website, it's MichelleB. Cooper. com. Awesome. And we'll definitely link those up. Well, Michelle, thank you so much for coming on the show. I really appreciate it. Thanks for having me.