Tag: business

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Most of my clients have lasting results with the money changes we make. But what makes some clients more successful than others? I don’t judge success by dollar amounts of debt paid or profit made. Some of my most successful clients had overall smaller dollar changes.  I judge success by my clients reaching their financial goals, staying protected at their income milestone, paying themselves and having great job satisfaction. If my clients can remove the stress and uncertainty that can come up around money, I call it a win.  But my most successful clients all have three qualities about them that made them “extra” successful.

1 – They have a money goal and a purpose for the money.

My most successful clients have a money goal. Saving to buy a building, leave the 9 to 5 job, open a day spa in 3 years are all examples of my client’s goals and purpose for a set amount of money. These goals aren’t fuzzy. They know how much they need, and they have a timeline to make it. If they don’t start that way, they get it when we work together. If your money goal is “as much as possible” or “as much as I need to cover overhead” you likely don’t have the same laser focus to create and make money as my most successful clients do. The truth is, if you aim at nothing, you’ll hit it every time. You need to define and write down your goals with a plan to reach them. Not that plans can’t grow, change, and evolve, but if you don’t start with one at all you aren’t going to be able to really measure your progress.

2 – They take immediate action to control their money.

They opened the holding account, they took the utilities off autopay, they started tracking income every day. Some of my clients have done those tasks the same day we have our session! Keeping their laser focus on the goal they take quick action and have wins immediately. I have seen less success with entrepreneurs who are slower to make necessary changes. The motivation to get it done quickly goes away, and often only about half of the recommendations make it into the business. They may pay their expenses intentionally, but they don’t make the time to create a monthly spending plan (budget). My most successful clients commit to making changes with their money quickly, one step at a time, and they follow through right away.

3 – They celebrate every financial win and use them to stay motivated.

Let’s face it, saving 5 years for a building can get a little boring. Every $200.00 deposit seems tiny in the face of the price for a building. But my most successful clients celebrate every single win, whether it is a deposit into a building fund, or a payday when they proudly sign both the front and the back of their paychecks. Staying motivated can be difficult sometimes, and we all have to deal with the sometime lack of motivation. Celebrating the little things brings joy into the progress, not the end state. If you aren’t celebrating and doing a little dance after every sale or payday, I challenge you to start today. Find a small money win and recognize it with gratitude.

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When the Breakthrough Number (B-Number) process was developing, I used it for the easy visualization of protecting the inside of your business four walls. It was first created to support a client who knew of the Dave Ramsey “7 Baby Steps” approach to personal finance. Each of the walls I identified for business helped her make decisions on how to spend money and to put processes in place for money management. Over time I continued to use the approach over and over and finally gave the process a name…

The Breakthrough Number

I know what should happen when people figure out their unique number. They should be more in control of their income. They will know their minimum monthly amount of money the business must bring in, reducing stress and uncertainty. Finally, they will see the wisdom of including their own salary in the business spending plan (budget).

What I didn’t foresee happening were these additional, unexpected benefits that came with working through the calculation process.

 

  1. More accurate wholesale costs.

I’ve worked with several business owners who forgot something, some small or easily forgotten expense that affected their profit margin. Running through each of the walls carefully uncovered things like the cost of blank labels and ink for handmade products. That cost was easily overlooked because it was under $25.00/ month, but it needs to be included because it affects the real cost to the business and needs to be recovered.

 

2. Finding hidden money and a chance to become leaner.

The first time this happened I was actually in an airport helping a friend run through the breakthrough number process. We were discussing her critical operating expenses and remembered that she had a service she paid for every month that she was no longer using! This service was about $100.00/ year. More than once I have seen clients eliminate or change services and expenses when they take a hard look at deciding what is critical.

 

3. More confidence in making strategic business decisions.

This benefit was sort of foreseeable in that I knew people could use the process to calculate different scenarios such as hiring new people or adding a service because they would be able to forecast the new expense’s impact on the money. But the way my client uses it to make decisions is quite surprising! She literally just uses her known monthly B-number amount to help her make decisions. Her breakthrough number is about $5k a month and included her personal paycheck. Anytime she wants to do anything different she looks at how much she made over her number that month and how much she has in the bank. She can then say, “Oh, this is okay, I made an extra $2k and I can still pay myself for 3 months.” That was her quick ‘back of the envelope’ calculation for hiring her part-time VA and a business coach. Amazing!

 

If you are still without your unique number you can get it today, right now for free.

Just visit http://entremoneycoach.com to grab your free worksheets. You will have your number in under 30 minutes! Happy Entrepreneuring!  

 

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  1. Not separating Business from Personal Accounts. You must have a separate financial identity for your business, even as a solopreneur or freelancer. Keep your money separate and write yourself a paycheck from the business. No living out of the till. Use a fee free checking account for all of your business income, and pay your expenses, including your paycheck, at regular intervals from that account.

 

  1. Immediately Making Large Purchases for the Business. Often these large purchases are made on credit, putting the business immediately into the negative with debt. Do you need that new computer right now? How about that website? All of those services? Keep the business lean by purchasing only the necessities. Know your B-Number to determine the amount of money you need to make based on prioritized expenses and put large purchases on hold until you have the cash.

 

  1. Having too Much Personal Debt. Personal income is often dipped into when businesses are first starting. Until the income really gets going, it’s not unusual to pay for certain expenses from personal funds. Having a large personal debt load means less money available for business expenses if needed for perhaps a marketing funnel or to pay a large expense that comes up. On the other hand, if you are relaying on your business to pay all of your bills, personal debt means more money needed from the business, and less money staying in the business for growth or new launches.

 

  1. Not Saving for Emergencies and “Down Times.” Business is cyclical. It just is. Income will be variable, particularly in new businesses who are starting to get visibility and a steady income stream. It is always a good idea to keep an emergency fund on hand- set aside into a free checking account for those months where you don’t make enough to pay those B-Number expenses. Some advice for starting and funding an emergency fund can be found here.

 

    1. Not Having a Clear Spending Plan for Your Business. Money can easily run off and spend itself when your business doesn’t have a spending plan. Always starting from the B-Number, where is any extra money going? You may get by for a bit, but having a plan ensures you can afford to take certain steps in your business. Taking 45 minutes a month to map out upcoming expenses or expansions and what you plan to spend where. If you need accountability or help with your plan, go ahead and check out our Business Money Planning Group.10
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When I was at a conference in San Diego last month, I had an epiphany about most new business owners and their business money stuff. Typically, when I work with a family on personal financial management there is a history of making financial decisions that became habit. When we work together, we have to often change years of money habits so my clients can reach their goals.  Business money management is different. Entrepreneurs are not generally “taught” how to manage their money. Rather than a habit to change, there is some learning that needs to happen.

 

In personal finance we are generally dealing with a set amount of money that consistently comes into a household as a regular paycheck on regular intervals. So, we can start from the income. Knowing how much you have to work with makes planning easier. You know how much it will take to cover all of your expenses.  When we have a deficit, a second job can be a solution, and once again we adjust to the new income.

 

Business isn’t that way. You may have income in the first week of the month and nothing in the second. We may have extreme income differences each month, and we may not know how much we will have to work with when the month starts! This difference is what often leads to cash flow emergencies in business, and stress when you are running negative cash. You must know how much you need to make to cover all of your expenses, but you may not know exactly which week you will make what you need.  Business money management is more dynamic and requires at least a weekly look at how things are going. 

 

Here are three simple steps to managing your business income as it comes in, and to keep cash on hand.

 

  1. Know your B-Number. You must know what you need to make, and you must prioritize the B-Number expenses first. Pay these above all other expenses to keep the business operating and able to keep generating income. If you do not have it, get your free worksheets at www.entremoneycoach.com.

 

  1. Track your income as you make it. You don’t need to obsess over your money each day, I had a client who did that, and she never enjoyed being an entrepreneur. Just write down what you make every day you make money. For simplicity, go ahead and write the totals on a calendar the day it comes in.

 

  1. Pay your expenses when cash flow is positive. You can pay the bills weekly or bi-weekly but know when you have made your B-Number, and when you are funding other things such as marketing, debt, and growth. Other coaches may disagree with me, but I have held the water bill for an extra week to ensure that my cash flow was positive, meaning I had more left over after I paid the bill, and didn’t let it run dry. I tend to be a little nervous about not having cash on hand, so I wait until I have sufficient cash to pay my expenses.

 

Finally, as you are making more and more over your B-Number each month, make sure you are funding an emergency fund. A good rule of thumb is three times your B-Number to keep on hand to protect against cash crunches. Just open a free checking account and start to put some money away.

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If you’ve been following me for any time, you know that I am all about protecting your business, now, wherever it is in its evolution. One of the best ways to protect your business is to have an emergency fund. Also known as a management reserve, this fund is a stash of cash equivalent to at least three times your monthly expenses, including your paycheck.  The importance of having extra cash for emergencies cannot be overstated. I have worked with entrepreneurs who spend everything they make each month in profit. They enlarge marketing budgets and add services to their businesses but have no cash to protect their existing milestone.

Three times your breakthrough (B-Number) is my recommendation for a first emergency fund goal (you can easily calculate your numbers with the free worksheets at www.entremoneycoach.com.) The reason I believe three months is a minimum number is that if the sun explodes, you still have a full quarter to right the ship. You will have expenses and a paycheck for the three months it takes to pivot, to launch, to take corrective action in your business. 

At first that number may seem a bit high, and honestly you may be thinking, “I’m barely surviving right now, you want me to save HOW MUCH?” But it is possible to save towards your goal and hit it in a few simple steps.  

  1. Get Set Up for Success. Make sure you have a separate bank account so that your emergency fund money doesn’t get comingled and accidentally spent. Keep it liquid but keep it separate, even in a different bank. Have a fee free checking account, with checks, for access and have a defined list of what constitutes an emergency.
  2. Put a little in each month. Make your emergency a line item in your budget. If you write down your savings goal, and you write in a goal for saving a certain amount, you are more likely to do it. Save a little each month, and you will be amazed how fast it grows.
  3. Make larger deposits as you make more money. Alternatively, or additionally, save a portion of your profits over your B-Number in a good month. Let’s say that you have a very successful month in sales, commit to stashing some portion of that profit in the fund.
  4. Celebrate your progress. You are actively taking steps to protect your business should you need a little money to cover you.

Treat your emergency fund as a priority and it will be funded faster than you expect. And once it is funded, you are done! You will then be in a better position to grow and take on new growth and risks, and more confident knowing you can cover what you need to every month. Happy Entrepreneuring!

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I am a multi-passionate entrepreneur. Across the businesses I am a teacher, coach, and cheerleader, but my businesses are very different and have very different audiences. I teach and coach entrepreneurs with their money and strategy, I tutor and coach non-traditional law students through school and the bar, and I teach ballet, tap , and jazz one day a week. And I am passionate about each one of my ventures. I know there are some of you out there who are just like me. I wanted to take a minute and support you by providing a few tips and tricks for balancing the finances across entrepreneurial pursuits. We will start with the “rules.”

 

Rule number 1: Every venture is different; you must separate your finances. Period. I have accounts for each business. I have check books for each business. I go so far as to have Stripe for one and PayPal for another to process payments. The money is earned in different businesses. By using PayPal, I can also “park” the money until I need to transfer it. No co-mingling. I keep everything absolutely separate. So should you.

 

Rule number 2: Expenses are different and should be tracked for each venture separately. This is as easy as putting all the receipts in a different folder, one for each business. Make sure that you pay the right expenses from the right account. Another benefit of PayPal is I can send money directly from the business account to pay expenses. You can set up the same for your businesses. Keep them separate.

 

Rule number 3: Taxes are separate in each business. You must pay the self-employment taxes on each venture. If you are a sole proprietor in the US, you will have one EIN if you are operating with your own social security number. You can make a single tax deposit online to cover the taxes for all three, but you must keep withholding separate in your tracking. You must file a “Schedule C” every year for each business that you own as a sole proprietor on your taxes.  If you are an LLC, Limited, Corp or any other structure you must absolutely deposit your own taxes but let your accountant do the K-1 filings at the end of the year.

 

It doesn’t have to be complicated for the multi-passionate entrepreneur. I sit down and handle each business separately and in turn. I have a written spending plan for each, and the B-number that goes with them. I spend less than 1 hour a month on the financial planning and management of the companies.

 

How to do it:

 

  1. Have Your B-Number. Know your B-Number for each business separately and have a written spending plan for each. I’ll say it again, know your breakthrough numbers and have a plan for the money in each business. If you need to calculate your breakthrough number get the free workbook at entremoneycoach.com. This step will save a ton of stress and crazy. You know what you need to make, what you need to pay, and where your money is going.

 

  1. Use color coding. I have different colored folders for each business. I mark receipts as I have them and place them in the correct folder by color. To avoid payment errors, I have checks in different colors with a little icon in the corner. Color coding keeps everything easy and organized. You can find different colored folders at any office supply store.

 

  1. Delegate what you aren’t good at, or don’t like to do. Stay organized with a virtual assistant, bookkeeper, accountant, etc. The actual bookkeeping for my businesses is very straightforward, and I don’t do it, and it takes less than 3 hours a month for all the businesses. I only manage the income and planning.

 

  1. Always have a plan for your money. Don’t let your money run off and spend itself. Know what each business’s income is for. Your money every month needs to have a purpose. You may decide to take a salary from one business, with the intent to use the money to grow a different one. Have a plan, withhold your taxes, and use your money strategically.

 

I celebrate multi-passionate entrepreneurs like me and understand that being organized can sometimes be a challenge. But take these few steps above to make managing the finances across multiple businesses easier. Happy entrepreneruing!

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by, Mike Kennedy

In April of 2011, Dawn and I decided to risk it all and start UNEQ consulting. I had spent the previous 14 years working at the Army’s Maneuver Battle Lab as an Experimentation Manager in the Unmanned Systems Team. My team and I conducted experiments with small unmanned aircraft systems, commonly referred to as drones, and unmanned ground systems, or ground robots. I loved my job; was very good at it; and had earned a great reputation in the unmanned systems community. But still, every day I got up and went to work at a government agency. Bureaucratic BS prevails at all government agencies and that was the part of the job that was troubling me. For months I had a nagging feeling that I was faced with a choice; succumb to the bureaucratic BS, keep my head down and just keep going; or resign my position and go do something else. I was making a six-figure salary, got to work around soldiers a lot, and my work helped to make their lives better. That was the good part. Putting up with the bureaucratic BS was the bad part. Go do something else won out and UNEQ Consulting was born. I closed my 401k, sold all my stock options, and away we went. Dawn agreed to keep working her job with the Army for the time being.

We thought briefly about renting some office space but after careful deliberation decided it was best to work from home. In the beginning, it was great. We had offices set up downstairs and called it the world headquarters of UNEQ Consulting. It was fun. I got to work in my pajamas most of the time and never had to drag myself to the car and drive to work. The first year we took a loss, but the second year we made more than $200,000. The problem with working from home, though, is that you are always at work. Soon enough, when the dogs got me up in the middle of the night to go outside, I would start working. From 2 or 3 am until 8 or 9 am I would be at my desk. I would take a short nap until 10 am or so then get back at it.

The thing is most of that work was just busy work. I was chasing clients. We had contracts with Georgia Tech Research Institute, the Defense Advanced Research Projects Agency and several companies that developed unmanned technology for the Armed Forces and/or First Responders. We were making great money, but I was working 16-18 hours a day trying to get more contracts and was spending near zero quality time with Dawn and the kids we still had at home. It got worse when Dawn’s contract with the Army expired and she started running operations for the company. Her work was invaluable; a definite asset, and truly made a big difference. That wasn’t the problem. I had become an obsessed workaholic jerk. Obsessed workaholic jerks find a way to manufacture arguments and fights over things that are not important. That was me and argue and fight we did. What’s worse than becoming an obsessed workaholic jerk? Knowing that you are one and not caring. I would tell myself that things would get better with Dawn and the kids when we were making millions and none of the fighting and arguments would matter then. For our third year we were on track to make $375,000, then the best thing that has ever happened to me happened.

On Friday, November 1, 2013, my two oldest sons and I were planning to spend the day at our training site getting ready for an event with first responders that was scheduled for the next day. Kevin, Patrick and I went first to a local tire store so Patrick could get new tires put on his car. Patrick was going to catch up to Kevin and me later in the day. Kevin and I got to work and a few hours into it, I climbed a ladder to about 18 feet to hang something on a light post. That is when the best thing that has ever happened to me happened. I fell off that ladder, fell the 18 feet or so and landed on my head on concrete. Wait- that doesn’t sound quite right, does it? How in the world can falling off a ladder and landing on your head on concrete be the best thing that ever happened to anybody? I’ll tell you. In the second that it took to fall that 18 feet, UNEQ Consulting died and with it, so did the obsessed workaholic jerk.

Of course, I am not actually dead. But in that second I went from obsessed workaholic jerk to helpless guy with 4 skull fractures, severed VIII Cranial Nerve, diffuse bleeding in the brain and catastrophic Traumatic Brain Injury who would spend the next 2 and a half months in the hospital learning to walk again. In that second, UNEQ died, the obsessed workaholic jerk died, but our marriage was saved. We wouldn’t know that our marriage was saved until a few years later because I had to recover and learn how to live with hearing loss, Oscillopsia (google it), swimmy brain, and getting to know the new Mike. That was extremely frustrating. Looking back now though, six and half years later, it is clear the accident saved our marriage.
Now, I sometimes think about it all and reflect. UNEQ probably would have gone on to make the millions of dollars I was obsessed with reaching. But, more likely than not, Mike and Dawn would have divorced, and the obsessed workaholic jerk I was would be all alone. That, my friends, is not worth it.

Here are the things I want you to take away from reading my story:

1. If you are working 16-18 hour days and not spending quality time with the people you love and who love you- you are a workaholic. Stop. It is not worth it.
2. If you are working 16-18 hour days, work is all you think about, and you know you are not spending quality time with family- you are an obsessed workaholic. Stop. It is not worth it.
3. If you are working 16-18 hour days, work is all you think about, you know you are not spending quality time with family, and you are fighting with them- you are an obsessed workaholic. Stop. It is not worth it.
4. If you are working 16-18 hour days, work is all you think about, you know you are not spending quality time with family, you are fighting with family, and you don’t care- you are an obsessed workaholic jerk. Stop. It is not worth it.

Finally, running your own business is only worth it if you keep the reason why you are building your business in the first place, front and center. You want a better for life for your family, you want your business to impact a lot of people and change the world, but what good is all that if you lose yourself and your family in the process?

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The concept of the business pivot is not new, I learned about it several years ago when I was in the Syracuse University V-WISE program for women veteran entrepreneurs.  Traditionally a pivot is a term to describe a strategy to turn a business when the current business model isn’t working, a plan “B” if you will.  But I also see a pivot as a strategy that can aid expansion of a business. I don’t think a pivot is only a plan B, but can be a business strategy for small turns, little twists that steer the business to look in an additional direction.

 

Entrepreneurs are, by nature, change agents. Known for figuring out ways to do things better, ways to take calculated risks. We are also known for continually searching for the “next thing.” I believe that using a simple pivot analysis can help you find the next move for your business. Again, I don’t ascribe to a pivot as something to do only when things are going wrong. I believe that a little turn deserves a pivot analysis, so risks can be weighed in a structured, but simple, way. Use this three-step process to discover your next business move.

 

  1. Commit to use openminded and unfiltered brainstorming. For best results, use the recommendations by Jennifer Jackson of Lucid Chartand just get every idea down on paper, and edit later.

 

  1. Use the Entre Money Coach ADFP Formula. Ask open ended questions about your Audience, Delivery, Focus, and Processes for places to improve, serve, and expand. Get the Free ADFP Process and questions to ask by visiting> here.

 

  1. Use market research to explore ideas. Don’t just throw out unusual ideas as bunk. Do a little market research to see if there is a fit. There are all kinds of free resources online to help you. Don’t forget to look at adjacent industries and at your own industry for ideas and changes going on that can support your ideas.

 

Some of the best business moves are those that seem to be a natural twist or progression. A pivot doesn’t have to be dramatic to impact your bottom line positively. Happy Entrepreneuring!

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Entrepreneurship means always having to say, “no worries,” even when we are worried. And as a group, we worry a lot. We want to be relevant, successful, financially secure. We are, in many cases, able to separate what we can control, and what we can’t control. But where money is concerned, 60% of entrepreneurs lose sleep when there’s a crunch. It’s safe to say that we struggle with the control thing when we are talking about our money. I am guilty of this too and am still working on it.

 

So why are we so crazy about the money? For many of us, it’s our metric of success. When we are responsible for every aspect of our business, from finding clients to keeping staff happy, juggling vendors and paying the bills, we gauge how we are doing by the amount of money we make. But when we use the bottom line as the only metric of our success any changes in the cash can increase the stress to unbearable levels. So, what can we do when we feel the financial stress rising up?

 

  1. Recognize the stress. Stress can zap your creativity and ability to make the best decisions you can make to get through a rough patch. If you can see stress rising in yourself when you review the financials you can take action to mitigate its effects. Don’t wait until you can’t sleep or turn off your brain to take action.

 

  1. Admit what you can’t control, and act accordingly. I have worked on this one for a long time. I can’t control if my invoice gets paid on time. I can’t control when people cancel appointments. I can’t control when packages arrive late. I can take affirmative steps to prevent these things from happening, but I cannot control these events when they happen. When I realize I cannot control the event, I give myself grace and a timeline for being upset.

 

  1. Don’t lie in bed and worry about money. Worry at the desk. Fine. The dinner table, fine. Not in bed. That’s not fine. If it’s not in the bank when the bank closes, it’s not in the bank. Your being up at 2am worrying about the money in the bank won’t affect your balance one bit. It will affect your ability to show up the next day. It will affect your health. Train yourself to keep financial stress outside the bedroom. If you wake up in the middle of the night and have financial worry- get up. Take it outside your sanctuary.

 

  1. Find non-monetary measures of progress and success. In today’s business world there are metrics everywhere. Websites and social media platforms can show you how you are reaching out and impacting the world. You don’t only need to measure by the money. What are a few ways you can look at your progress now without the bank book?

 

  1. Give yourself CEO space. No people. No projects. No progress reports. Schedule an hour or two a week to close yourself off to think, reflect, and to be by yourself. Use this time to brainstorm, meditate, listen to music. To Just BE. I’m still working on this. Entrepreneurs by nature are human doings much more than we are human beings.

 

Money stress when you are not in control does nothing to impact your bottom line and everything to affect your health and creativity. These skills are a work in progress for most of us. But managing to keep money stress at bay by focusing on other measures of success, ensuring a good night’s sleep, and reminding ourselves where we aren’t in control will make running your business less stressful. Happy Entrepreneuring!

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Small businesses are started with an intent and design for growth. To impact more people. To serve a larger audience over time. That’s why entrepreneurs start businesses, right? More growth typically means more money. Another reason we start a business.  Keeping your finances organized for growth can be tricky. Particularly if your business grows quickly. Growing businesses mean growing expenses. Perhaps the addition of a new team member or increased wholesale or raw material costs. So, how do you keep track of it all? Here are five tips for organizing your finances for growth.

 

  1. Make sure you have all of your bills and expenses in one place. You should never have to go looking for a bill to pay it. Write down who you pay, what it’s for, account numbers, contact information, and online login info in a notebook, on a spreadsheet, or just on a list in a Word document. Keep this list updated anytime you make a change to the business expenses.

 

  1. Be intentional with your payments and take all your bills off autopay. If you aren’t already, this is the time to manage cash flow very carefully. You need to be in control of your cash. Holding the water bill for a day or two while you are waiting for your invoice to be paid keeps cash in your pocket just in case. Cash flow issues cause sleepless nights in around 60% of entrepreneurs. Control yours.

 

  1. Track all money coming in, in writing, and leave it in the holding account until you pay bills, payroll, or write yourself a paycheck. Don’t use any money coming in before it’s time. When you are growing you may have intermittent bills or newer expenses that are due in a time period that is new for you. Don’t try to rely on memory to tell you where that $65.00 cash payment went. It doesn’t have to be a complicated system. You can use a sheet of paper. JUST WRITE IT ALL DOWN.

 

  1. Have categories for your “extra money.” Miscellaneous is the category of money that runs off and spends itself, and we don’t want this. I am a firm believer in “profit parking lots” that have names, and a purpose attached. You need to have a separate bank account from your operating account for holding these profits. Use a fee free checking account, and don’t forget to look online for a bank. My clients have had great success using an online bank for their holding account.

 

  1. Don’t forget to put money in your emergency fund to protect the business you have as you are growing. Three months of your breakthrough, or B-Number, is a wise amount to put aside in case of emergency. Giving yourself a full quarter’s worth of money to cover expenses as you pivot or launch something is a smart move. To figure your B-Number use the free worksheets on www.entremoneycoach.com and the free videos on the Entre Money Coach Facebook page.

 

You don’t have to make money organization and management complicated. You just have to maintain control, track it all, and protect yourself with categories and purposes for profits. Use these five tips to prepare your business for growth. Happy Entrepreneuring!