EP27 – How Entrepreneurship Changes Lives

Matthew J. Brownstein hosts Tatiana Tsoir in this special episode of Illuminated Mind. Tatiana is a CPA as her MBA. She’s an award winning accountant, best selling author, speaker and entrepreneur mindset coach, a fervent believer that the key to freedom lies and entrepreneurship. She now focuses on empowering and supporting people in starting their own businesses and building the lives they want.

Welcome, everyone to the illuminated mind podcast with me Matthew Brownstein. I’m here with our guests Tatyana Sawyer, who is going to talk to us talk to us about entrepreneurship and work that she does and helping people to succeed. The podcast is dedicated to anybody who’s listening. Yes, specifically, we are the Institute of interpersonal hypnotherapy. And I’m always honored to help our students and graduates to succeed. So we brought in Tatiana to help. So thank you for being here with me.
Thanks so much for having me on.
Absolutely. So Tatiana is a CPA as her MBA. She’s an award winning accountant, best selling author, speaker and entrepreneur mindset coach, a fervent believer that the key to freedom lies and entrepreneurship. Tatiana specializes in helping individuals prepare and transition from the antiquated nine to five, to starting and running their own companies and building businesses that change lives including their own. Over the last 17 plus years, Tatiana has used her expertise in tax planning, and price psychology to help hundreds of businesses become more profitable, stabilized cash flow, and excuse me, and pay less in taxes through a combination of tax strategies, operational planning and commitment to excellence. Tatiana now focuses on empowering and supporting people in starting their own businesses and building the lives they want. Tatiana is a frequent speaker at conferences is the author of dream bold, Start Smart, Be your own boss and make money doing what you love. And host of the podcast talk to Tatiana, in which she has conversations with world experts about their entrepreneurial journey. Tatiana has been featured in Forbes, US News and report Business Insider, go bank rates being great CBS the list, the daily FCPA and TD Thrive Insider, and national speaker association. So yeah, thanks for being here with us. My father was an entrepreneur. So I remember hearing the word early on, I wonder if we can start with you just defining what that is. Because having been given that word when I was I don’t know, maybe 1011 years old, it really influenced me that there’s a whole nother model, besides just getting a job and working for someone else.
I think that there’s not enough of a quote unquote brainwashing going on in the US in terms of encouraging kids to consider entrepreneurship as a career. I’m actually working on a book that will address exactly that. But the idea is that the word entrepreneur is not really used as much by business owners nowadays. And I myself up until probably 2018 did not call my what I do a business, I called it a practice. And that’s fairly common with attorneys and accountants and doctors, we call it a practice. And it’s not the same as a business. Being an entrepreneur requires a an entrepreneurial spirit and an entrepreneurial mind. And I think that a lot of us aren’t encouraged or even helped to think that that is a career possibility. That’s actually really, really good. So you were lucky that you heard that word, I think that we don’t hear it enough. Parents don’t encourage kids enough, because we all want the kids to go to college and finish with a degree and get a job and whatever. And then 30 years later, that person quits the job because they’re burnt out or hated or whatever, and start their own thing. And they have to start from scratch. I think that having the entrepreneurial skill, knowing the craft, and being an entrepreneur some way one way or the other, is actually a really good way for all of us to be happier. Because, frankly, there’s studies that show that if you’re an entrepreneur, you’re infinitely happier than an employee.
So why do you feel their studies there? Why do you feel that to actually use your own words? It’s a way to be truly free and to do what you love? Can you elaborate on that as opposed to if you’re just working for someone else? Why is having your own career? So where is that how you would say it having your own career if you’re an entrepreneur.
I just call it a sort of a career option. Meaning that going to college and getting a job is not the only thing you can do. You can go to college and become a an entrepreneur that’s just as good of a path. If not better than than working for someone else. Certainly, you will need some experience you will need some hands on experience and that’s when you would work for somebody else. But it’s the only way at least in my opinion. It is the only way to be happier because when you when you become an entrepreneur when you run your own time when you’re on your own schedule and run or your own bank. That’s when you become truly free. because you don’t have to ask somebody’s permission to go for a doctor’s appointment. You don’t have to ask someone’s permission to take your child to the doctor or potentially go to your child’s recital, at school or somewhere else. All of those things usually happen during the day. And we, we, I remember that when I worked, I worked for somebody else, I remember thinking, I want to go visit my parents, and for a few days, like two, three days, you know, Kwik Trip back and forth. And I have to ask someone’s permission to take a day off. And they can say no. And so for me, I believe that freedom lies in entrepreneurship, I believe that the only way you can be truly happy is if you run your own life, because life changes, life evolves, and things change and you change. And with being an entrepreneur, you can adapt your business, you can adapt what I do to your ever changing life. And entrepreneurship in general is using resources that you’ve got and making money with those resources. And those resources can be money resources, or employee resources or something else. But it’s how you use those resources to make a profit. That’s what entrepreneurship really is about.
And when somebody is moving towards that you have this idea of dream bold, start smart, right? If we’re doing it for possibly the wrong reasons, if we’re just money motivated, perhaps we don’t succeed. Can you talk about this starting smart? Like, what’s the drive behind why somebody would want to go into path like that?
The StartSmart really addresses probably 17 plus years of my career as an accountant, where I’ve worked with small businesses, and I’ve seen everything that they’ve that we, the way businesses are started is not always smart. I mean, this statistic speaks for itself. 50% of US businesses fail within five years 20% within year one. And what that tells me is that people, and this is something that comes from a client of mine, he once said to me, you know, Tatiana accountants don’t start businesses visionaries, do. And he’s right. Because every business starts with a vision with a passion with a skill with something with a driver, that internal inherent driver that you use to start a business. But you have to be able to support it with numbers, you have to be able to support what you want to do how you want to serve others, with math, simple math, and a lot of us failed to do that, which is why the business shutdown rate is so high. And so what we when I talk about businesses, you know, starting smart, I incorporated my book, I incorporated some of the biggest pain points for me to see as an accountant, because I don’t work with startups anymore. But, but when people come to me, I see what could have been done differently. I’ve worked with startups before, advise them to do things better and smarter. But those who came to me as an established business, my heart broke many, many times looking at their taxes and the mistakes and the omissions and the lost opportunities to keep more of their money legally. And so all of that all of that adds up to the Start Smart approach, I guess, to starting a business.
And that leads to something we’re just talking about before we started the idea that what nobody talks about before they actually get into this, what are some of those more insider tips, if that’s the way to say it, that people would be really better off knowing like, it’s amazing to hear. You could come in as an accountant, you can look at somebody’s taxes, like you’re spending a lot of money, you don’t need to spend there’s legal ways to do this better. What are some of those ways to get started that we’re doing it right, that you said nobody even talks about?
Yeah, not a lot of people talk about the legal ways of reducing your tax. I mean, even before that, I think the most one of the most important parts is making sure that you start your business with the right entity. You know, I’ve and I see this all the time, and which is why it’s a chapter in my book. But I see this all the time when people think oh, like, I’ve heard that s corpse are great, I’m gonna start with that. Or I’ve heard that LLCs are the best and I’m gonna start with that. And then that’s what you start with. But with the traditional accounting model, I’m not a traditional accountant, I’m progressive accountant. And there’s a bunch of us at this point, but that percentage is still very small compared to the traditional firms and then traditional means conveyor belt operation operation of tax return processing, a lot of clients per accountant with very little really insight in into your business to help you make it better and save more money on tax as well. So a part of that is the entity nobody talks about potentially multi level structure. I specialize actually as an accountant. I specialize in creating multiple entity structures for businesses so that we can maximize the tax savings but also So make sure that it’s a separate business that can be sold later, or whatever the goal is, I believe that business is personal. And what that means is that you will never have the same response. If you ask an accountant, if you will never have the same response to the question of which entity should I be? Progressive accounting, we will never tell you progressive accounting will first spend time with you finding out Do you have children? Are you married? Do you have does your business have a sub business, I’ll give you an example. A designer, for example, a interior designer, many of them sell furniture or resell furniture. And one of those businesses eligible for the new deduction that’s still valid for another four years or so. The other one is not. And so if you keep them in the one entity, you will lose that benefit. It’s a pretty lucrative deductions 20% of your income, business income that gets deducted and added back to you. Basically, you save tax on that. In there, there’s a number of other examples like that, including hypnotherapists, including coaches and other things. There’s a lot of opportunity to save. But if you listen to a traditional accountant, it’s a quick answer, because you’re not paying for that advice. It’s a quick answer, Oh, you shouldn’t be an S corp. Or you should be an LLC. That’s the most common common way. But I believe in multi entity structures, because like, I, myself, am an author and speaker and an accountant. All of those businesses are separated into different entities and different types of entities. And the idea is that because being an author, you get the 20% deduction that I mentioned, special deductions, very cool. But being an accountant and a speaker, you don’t. And so if you lump all of that revenue in one business, you’d miss out on 20% of your author fees as a deduction. And so it’s really significant, it adds up quickly. And really, those things nobody talks about, I’ve had clients who came to me for that simple answer. And I said, if you want a free answer, you should be x. But if you really want something that’s personal to you, because it will help you save more money on tax, you need a consultation. And then other things that people don’t really talk about is really pricing and packaging your product. Well. I’ve been trained in price psychology a number of years ago, and I’ve really that’s the most popular question that I’m asked or most popular, I guess, topic that I’m asked to speak on. Because price psychology is a study of how people make buying decisions based on price alone, in terms of how the price is presented, how its communicated how you see and come across the price. And so typically, I see and entrepreneurs, one of the struggles, I guess one of the pain points is coming up with the right price.
And many of us and I myself was in the same boat a number of years ago, when I started my own practice completely, like branched out on my own. I asked my mentor at the CPA firm I used to work for I asked him like, what should I How should I price and so he gave me really bad advice. He’s a great person, I love him to death. But but he gave me really bad advice. He said, well come up with an estimate of how much the tax attorney would take, come up with your hourly rate, you know that it would include your cost of time plus some overhead plus some profit, and basically multiply the two and you’ll get the price of the tax return. So what ended up happening with that was that I would be working and doing tax returns as a CPA for like a business return for $650. I now charge 4000 For that, because it’s not about putting numbers into a tax program. And I’ve worked, I’ve gotten to a point in 2018, where I was working a lot and really seeing a lot, a lot of nose, given a lot of nose to my family, but was giving away a lot of stuff for free. And I wasn’t serving the clients because I was giving them the quick version of the advice that they weren’t paying for. And that advice was not tailored to them. So since then, I’ve actually reduced the number of clients created a menu price, packaging schedule, it’s, it’s a three package. It’s an optimal number of packages, and I have different benefits inside each package. And because of that, I’m now able to work one to two days a week in that business and write books and do other things. In your business. Whatever it is that you do, you can do something similar, you can do something maybe not the same, but something similar, but knowing how to package your product or service and you can do that with the service just as much as you can do it with a product it doesn’t matter. And it’s really amazing. I’m really amazed honestly at at how how much we can do and I’ve worked with people to develop their packages. I’ve worked with coaches to develop their packages to add different programs and different levels. And I’m really amazed at how much you can do knowing some of these pricing basics and packaging basics. But just coming up with the random price, like I did, I think it was, yeah, there was some logic to it those random price was not a good approach. Mm
hmm. So if some of our students it was where he felt that every school they were thinking about opening their own practice. And we were to say, What’s the best corporate structure? I hear you saying, it would be really good to get a consultation with the progressive accountant like yourself, to figure that out for them? And if they were trying to figure out, well, how much should I charge per session? It sounds like kind of the same answer that would be really good to work with somebody like you to figure out what are the best price points. I wondered if you could just elaborate more if the person said, I’m ready to start a hypnotherapy practice, since that’s what we’re all about. I want to work with Tatiana, how might you guide them towards figuring out structure and pricing.
So I would actually recommend and this is something I also recommend in my book and any other podcasts that I’ve ever been on, except maybe for the first few ones, because I wasn’t, really wasn’t a big fan of LLCs before. And still not a huge fan. If an LLC is left as is, LLC stands for limited liability company. But just if someone is just starting out, and is on maybe on a tight budget, what you can do is just start with an LLC, and I recommend to start with that, as opposed to working under your own name simply because you can have a limited liability. And what limited liability means is that if your business ever gets sued for something, they cannot go after your personal car or personal house, or whatever. Unless of course there’s fraud or negligence involved, which you know, nobody, I mean, it doesn’t happen very often, obviously. But in that case, you get limited liability with an LLC, you can open a business bank account, which I highly recommend, because you need to separate your business and your personal finances, because the first thing that I arrest would look with scrutinizes that up on an audit. And so it’s really powerful and important to be able to separate it and makes it easy at tax time and makes it easy to open a bank account. I’ve certainly done it all different ways. Throughout my career, I’ve opened a business bank account under my personal name, but it was much harder you had to explain what are you doing? Why do you need an EIN Why do you need this or that and having an LLC would solve all of that headache. And also for your first or second year, first two years of your business, you can actually make that business income and expenses a part of your personal tax return, which will save you some money in preparation fees and all of that. And so LLC starting with an LLC, certainly a good idea, unless you’re starting with a partner, or looking for an investor. There is a lot more complications there. And in that case, you would need someone like a progressive accountant to really advise you on what the best setup is. I’ve set up different ways for people not related to hypnotherapy. But let’s say real estate investments where one partner would be bringing in capital, the other would bring in services. And I would set them up as a partnership, but which I’m not a huge fan of because there’s a lot of tax involved. But I was set the offer as a partnership and then have them individually own an entity that would be a shareholder or partner in that partnership. So there’s a number of ways that you can do this. But if you’re just starting out, just start with an LLC, don’t use a big service, or at least pay attention to some of the details because I’ve had clients who use the big service on the internet. And in New York, for example, in New York State, when you form an LLC, you have to have a publishing requirement met. What that means is you have to announce your LLC to the world, so to speak, in for six weeks in two newspapers. And so if you don’t do that, the New York can close down your ol see out of the blue, and you’re done. But so just be careful and pay attention to things I don’t know if that big service really didn’t do it, or they my clients didn’t pay attention to what they were told. I don’t know what the reason for that is, but just pay attention to that. Also in like California, you have to pay $800 tax every year for an LLC. There’s a couple of these things, but it’s still probably going to be cheaper to do that even your first few years of business, because you will save money on tax preparation fees for an entity. Now once you get to something like a $75,000 net income, meaning your revenue from your clients minus expenses, equals 75 grand, then you should probably convert that entity into an S corp potentially. And I’m saying potentially simply because I don’t know. The people who’s the person who’s listening maybe, maybe a combination of several entities would be best. I’m just talking about simple scenario for someone who’s starting a hypnotherapy practice. But potentially, you could save enough money on the conversion. And you could do it retroactively to the beginning of the year if you do it right if you have the right person doing it for you. And it shouldn’t cost an arm and a leg, but you can kind of order to an S corp potentially. And for that year, and that should be done throughout through the year, not once the year is over, because it’s going to be really hard to prove that. So you should know your numbers throughout the year
to convert it to an S corp and potentially save five $7,000 on tax. And that money will you will keep some of it some of it will go to an accountant to prepare your entity tax return but some of it will go into your pocket. And so that’s kind of the threshold that I use for for as a as a generalized approach. And then if it’s more than that, if we’re talking 200,000 Plus, then you potentially need a progressive accountant to be involved all the time so that you can get the attention and also grow your business keep more of your money through legal tax strategies.
I love listening to you because it reminds me of what it was like when I was getting into business. I was a religion and philosophy major and I just thought I was just going to be a monk because it’s like, I don’t know, what am I going to do with this information? When I realized that okay, living in ashrams and monasteries, which I did was great. Yeah, you don’t make a good living at that when my parents were encouraging me to finally go into business. I was going into Chinese medicine eventually, most people don’t know my story. Now I got into hypnotherapy. When I met with my first accountant, I knew absolutely nothing. So it’s I’m listening to you now, hearing about LLC and S Corp. I’ve learned what these things are over the years. But I wonder if you could speak to somebody who’s completely new Are they just better off talking to you like having that interview working with a progressive accountant who can understand their situation really well, because I knew when I had just started my practice, if someone said, Yeah, you should consider an LLC, I would have no basis for that, it would have been wonderful to sit down with somebody like you and talk about the plan to move forward.
So the plan is actually really simple in that sense, the steps would probably be something like this, you would reach out to an entity, a company that would register an entity for you. So I use a couple of companies, one of them happens to be in Albany, New York. They are they operate in all 50 states, they you basically tell them, This is what I want the name to be, this is what is going to do and this is the state, this is my information, you will provide them all of that and they file it for you. Their fees are low enough that it doesn’t really make sense to save money and do it yourself, you’ll probably miss something and then you will pay for it later. So I would recommend using a registrar like this, it doesn’t have to be a lawyer. lawyers charge more for the same work and they don’t even they’re not even the ones who do the work anyway. So register a limited liability company pick a name and in terms of names. I don’t know about hypnotherapy requirements, if there is a requirement to have your own name and an entity. Is it required or
No, no, if you’re asking No, there’s no requirement that I know. So I hear you saying our graduates, for instance, what industry need to go to somewhere like you can help them to plug in a little bit. But I hear you saying that they could just go to a registrar and set it up. I just wonder would they be making the right step in the first place with these people consult them on what’s the best structure, or that’s just how you would set up an LLC.
If it’s a student that wants to open up and start their practice, they have no experience whatsoever, just use my approach LLC first. And then potentially enough Corp years down the road, right. But LLC first, as opposed to using your own name. That’s always better because of the liability that I mentioned. And then the next step would be to go to a registrar to registered for you. This is a service business and it’s related to sort of psychology in some ways, and so there is not a lot of tax planning that can be done right off the bat that would be meaningful for you as a hypnotherapist, meaning that if you’re just starting out, you’re not going to be doing you know writing books and selling, I don’t know, supplements and stuff like that. All of those. Those are different directions of a business that you will not necessarily be starting with. If it’s a simple start like that. You don’t need a tax planner. Start with an LLC. Keep the $75,000 in mind. And that’s really it. That makes sense. Okay, yeah,
I’ve heard that before for our graduates as well. That is a pretty basic model to start with an LLC. There’s so much in Our work that deals with the heart, right and deals with the head. We were talking before about like a whole brain approach to this. I wonder if you could elaborate on what you meant by that.
So, this is actually the topic for my upcoming TEDx. But the idea is that I’m actually illustrate it with a story. So when I was 17, I grew up in Belarus in the Soviet Union, I haven’t been abroad until I was about 17. And I went to Germany with with the schools through the school exchange trip. And we spent a couple of weeks in Germany with the German students and involved in German school and so on. And it was a fun experience. But this was also my first time abroad, which is, which was mind blowing. But also my first time at a waterpark, the school happened to take us to an indoor waterpark that I’ve never been to in my life, never seen a water park. And so he didn’t, there weren’t any around. But the idea was that I went to the waterpark and I’ve basically spent I had fun, the whole day was probably the most amazing spirits in my entire life up to that point. And then I saw this huge diving tower next to a swimming pool, very deep swimming pool, you could tell from you know, from the side of it, and so I thought, Okay, I’m gonna go and try it out. So I went to this. I climbed the topple to the top diving where there were three of them, right one was just like really low, the other one that was in the middle. And then the top one was at the 33 foot mark, which is fairly standard. For divers. Anyway, I didn’t know how to dive but I knew how to jump off the diving board. So. So I decided to try and there was a little line and there was lying behind me. And so when when my turn came to do this, I came to the edge of the board and I looked down and I was absolutely terrified. It was very high 33 feet doesn’t seem that high from the ground, but it does when you’re standing up there. And that’s kind of how I relate to business. You, it doesn’t look that hard when you’re just about to start. But as you come closer to making big financial decisions, meaning financial decisions, like quitting your job, or to pursue business, for example, or doing other things, developing your business, taking on clients, taking on programs, coaching programs, or whatever, all those things are financial decisions. And when you come come too close to the edge of the diving board, you look down and you can get terrified, and it is terrifying. And you don’t know whether you’re going to live or not. I mean, with the diving board, you know, it’s fairly easy, you know, I was involved in math my entire life. Yeah, it was a part of the math class. And all of those things. And our math teacher was really, truly an educator. She always said that math saves lives. And I believe in that. At that moment, when I was standing at the edge of the board, I actually wanted to quit, but I turned around and I sub there were people behind me looking. And I knew some of them. And I was embarrassed that I was chicken. Now from that from that dive. I remember that my math teacher used to always say that math saves lives. And I thought, You know what, if this board was built here, somebody already ran the numbers somewhere, someone already did the math, so I shouldn’t die. But when you’re sitting at the edge of your business, or starting a business, there’s nobody else to run the numbers. It’s just you. There’s nobody else to do the math. And so entrepreneurship requires a vision requires you to see the future in what you do, whether it’s changing people’s lives through your service, or product or whatever it is. But it also requires the left left side of your brain, it requires the logic and the reasoning and the numbers and the and the everything else the support the evidence that you have to pursue that vision. Because in 50% of the cases, if you don’t have that you will not have a business and it will just be a passion, potentially, or whatever. But I believe in that. And that’s what entrepreneurship as a whole brain craft is about. And also I believe that entrepreneurship is a craft. Yes, you may or may not be born with the entrepreneur gene. But I think it’s deeper than just not an entrepreneur gene. There’s a crafts to writing books. I know that because I’ve went through a workshop before I wrote my book, I booked a workshop that helps you write books that change lives. But just like writing is a craft you it’s an approach. You develop your ideal reader a core message and core promise for the book. And then you create an outline of the chapters and the teaching points. And then you fill in the gaps. Just like that is a craft. It’s an approach to doing something just like that entrepreneurship is also craft. It’s a craft because it’s Some visionary, but it requires a whole brain approach because you need the numbers and logic to support it, if that makes sense.
It does. And I like the analogy of jumping off a diving board, it can be scared to go into business by yourself on your own. And you have to have that balance of I would say, like left and right brain, you have to have the passion. But you also have to have in the vision, which I guess is still more right brain, right, the feeling and the vision, but also the logic and the willingness to sit down and crunch the numbers and to see it from both sides. What would you say to someone who is thinking of jumping off the diving board, they’re still in their current job. So you know where hypnotherapy school and some people, of course, wanting to leave their job and then start a private practice. I know you’re not a graduate yet. I know we’re talking about you going through the school. You’ve been through some of our trainings, which is great. But from what you understand about our profession, or just generally if somebody has a job, they want to go into their own entrepreneurship, let’s say it’s a private practice in hypnotherapy, is it a don’t quit your day job type of thing, because I hear you’re talking about a learning curve, there are things you’re gonna have to learn about business. So can you speak to a transition that maybe you’ve seen people go through from a job to being an entrepreneur?
I’ve certainly seen a lot of people go through the transition. And sometimes I’m scared for them. In a sense that there are coaches out there that teach you that if you cannot do two things, well, at the same time, and I don’t believe in that, I think that we all are multifaceted people, we’re all multi dimensional people who can do several things. At the same time, I’ve done it many times, I’ve seen other serial entrepreneurs have done it many times, and we’ve done it well. And there are coaches out there that think that they’re doing your favor that in that they’re pushing you to quit your job today, and pursue this with your full attention and full speed immediately, because that’s what you’re meant to do whatever. I don’t know what the reasoning behind it is. But I actually don’t believe in that. Because I’ve seen people do that. And what I’ve also seen is the same people get very stressed when they can’t pay the rent, or get very stressed when they can can buy groceries to eat. Now your situation may not be I mean, not your personally, but those who are listening may not be the same. You may have a spouse that’s making solid money, and you don’t have to care about that. That’s different scenario. But if you’re working for a living, and you want to transition careers, do it smart, build up your business slowly so that you can do you don’t have to worry about what are you going to eat today, we’re in six months. Because there are ways to do that there are ways if you’re proactive, and if you’re pro, I guess, progressive, you, let’s say you start building up clientele, and maybe you see them, like whether it’s on zoom on person, in the evenings, maybe it’s two, three evenings a week, maybe it’s the weekends, whatever your setup is, start with that build up those hours. I, and I’m sure hypnotherapist and other you know, coaches out there. I’ve seen it where we the client reaches out to us, when can you meet and we think that we have our whole calendar open. That’s not correct, you have to set boundaries. And if the person can fit in those boundaries, that’s okay, they’re not your client. I’m totally okay with that. And it took me years to get to that point where I’m okay with you not meeting my schedule requirements, because my schedule requirements are here for a reason I have a family and I care about them more than I care about my work. I want that time is priority before everybody else. And that’s how it should be. And so typically, what I would say is start with that I’ve had people reach out to me coaches actually and ask me, How can I build my business, sort of, almost passively. It’s not passive building, it’s active building, but it’s just, it’s not your full time, hours, maybe ask four days a week to work from home. And those days, you will have an hour on each side of the work day to to meet with two more clients set up to three days a week, whatever fits your schedule, to meet with clients. And let’s say it’s an hour at six an hour at seven an hour and eight, so that you have three hours of client work per day, per week or whatever, whatever the number of days is, or maybe it’s a couple of the four hours over the weekends. Whatever the setup is, start with that build up the practice and then as you get more and more demand. And that’s where packaging and pricing comes in. Maybe it’s a six month practice package with the client, whatever the setup, then talk to them about renewal. If they’re not renewing, then you need to fill that slot that time slot right. That’s inventory approach sort of like it’s you Time inventory. But then if you get overwhelmed by demand, great, then you can maybe talk to your boss and say, Listen, I can work four days a week, not five, I’m sorry. But can we make this work? And if they say yes, then you are already one day in a week working on your dream business as opposed to working for somebody else. Yes, that type of approach will require, I guess, a longer time to completely switch. But you don’t have to be anxious about paying rent or any other thing that that you need to pay for. When you do it like that. You will take longer, but that’s okay.
Yeah, I hear you because the quitting your day job can cause a lot of desperation. So knowing that other people in other industries have worked with that model where you can keep working your five days a week, start seeing clients and evenings or weekends. And I like how you said, the client doesn’t know that you’re working another job, you just say, this is what I’m available. And a lot of people like getting an appointment on evenings and weekends. And then yeah, eventually transition, I might set our students as long as you get that phone ringing, you need to know how to get clients calling you once you know, okay, the phones ringing once or twice a day, then maybe cut back on work, or eventually you could quit your day job and get into something as you’re talking about much more rewarding and fulfilling. For anybody who’s thinking of becoming an entrepreneur, whether it’s hypnotherapy or whatnot, if you can offer any other words of wisdom, this is your chance to broadcast it to the whole world, what would be the one most important message you might offer?
Um, I would I usually say this, but I’m not going to use it this time usually say that. Don’t adopt the fake it till you make it approach when it comes to money, numbers and taxes. But I would say to anyone who wants to start a business, Dream bolt, always ring bold, it’s the best thing that you can do to make you happy and to make your family or people around you who matter happy and happy or happier. Even and I believe in that I believe that entrepreneurship gives us a lot of freedom.
Hmm, Dream bowl, beautiful. Yeah, I’ve been doing that my whole life as far as you put yourself in a corner and you say, I’m gonna make this happen. And I’m dreaming big. And I’m gonna do whatever it takes to make it happen. So yeah, I appreciate that. But Don’t fake it till you make it when it comes to taxes. And I like to fake it to make it mentality, like see myself bigger than where I’m at. But don’t charge up the credit card or put yourself into serious debt or don’t play around with that with Texas. It’s maybe a good mindset in other ways, but not when it comes to natural financials. That’s right. Beautiful. Thank you. I can’t imagine how beneficial it would have been when I was starting my practice if you were there where I could have spoken to you. So while I hear you wonderfully respectfully, saying you can go to other people to set up your LLC and whatnot. If someone did want to talk to you and work with you, how would they get in touch with you?
The best way to connect with me is to go to my website to talk to tatiana.com. You can get the information you can contact through the website and we’ll can get talking.
Talk to tatiana.com. Thank you so much for joining me, this the illuminate my podcast, we didn’t focus on the deep spirituality that we’re usually all about. It is Tukana saying it’s this whole brain craft, right that we have to acknowledge all of us. So the head and the heart. And to me, the accounting and the business setup is really being willing to look at the head side of it. But I do hear you talking about the passion, the vision like that a entrepreneur is coming from a space where they know what they want, but they also have to be willing to set up at all seas and understand all the basics. So you seem to bring a really beautiful approach to it. So thank you for being my guest here. And I hope anybody who’s interested in some advice or how to move forward with a progressive accounting or reach out to Tatiana. So thanks for being here with me.
Thanks so much for having me. Thank you