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Employment Law Today

Tuesday, December 14, 2021
14
Dec
Facebook Live Video from 2021/12/14 - Financial Factors For The New Workplace

 
Facebook Live Video from 2021/12/14 - Financial Factors For The New Workplace

 

2021/12/14 - Financial Factors For The New Workplace

[NEW EPISODE] Financial Factors For The New Workplace

Whether you are a business transitioning to an in-person, hybrid, or fully remote workforce, it is vital to have sound financial strategies, cost-cutting measures, and plans for revenue flow for your business.

What does a hybrid or remote workforce mean for your company's budget and spending? How has the pandemic changed the company's finances from a CFO's perspective?

On Tuesday, December 14 at 5 pm (EST), join me and my guest, outsourced CFO Tricia Taitt (CEO / Founder, The Art of Money Matters), as we discuss the above issues in another engaging episode of Employment Law Today!

Tune in for this informative conversation at TalkRadio.nyc or watch the Facebook Livestream by Clicking Here.


Show Notes

Segment 1

Tricia Taitt returns to Employment Law Today! Tricia is the founder and CEO of The Art of Money Matters, a firm that offers consulting and support for small businesses. Tonight’s topic deals with financial strategies and tools for the new workplace today, whether it’s hybrid, remote or in person. Tricia says that she did not intend to get into entrepreneurship. She actually wanted to find a way to keep practicing math and finance. Tricia also has a passion for performing arts and at one point was in a broadway show. She entered entrepreneurship to empower and educate business owners, especially businesswomen. Tricia also talks a bit about some key steps with helping a business financially. She says that she would sit down with the business owner and leadership team to walk through their plans for the next 12-18 months ahead. What costs are going to be impacted as well as revenue are part of what she looks at with clients.

Segment 2

Eric and Tricia continue their conversation about establishing a solid budget with businesses. Some examples of what Tricia does with her clients is also booking at for instance, how much of the businesses’ products will be sold in the upcoming months ahead. Eric and Tricia also talk about the decision for business to go remote. With this, Tricia says that a business owner should speak with a CFO or consultant as well as speak with their employees. They should also look at the cost cutting measures or benefits. Many business owners may be looking for great talent that they had to let go because of Covid. The costs here are not only the salary negotiations, but also the cost for training the employee as well. Other cost measures to look at are the cost for ink, computer, tech support and other hardware if employees are working remotely. Tricia also advises that when one is thinking about their expenses and income, to look at it as a cash flow analysis, a best guess estimate and it can help you better understand where your money is going.

Segment 3

Coming back from the break, Eric asks Tricia about what a business plan should entail moving forward and post Covid. Tricia mentions something that she currently hears about more which is retirement. Some immediate costs that come up or some things to think about when thinking about retirement as a business owner is who will succeed them and what kind of management team they would want to have. There are also factors to look at that deal with “cleaning up” or making everything look suitable for whoever will want to take over, whether that is customer service or your departments. It takes up more time and planning than one may think. In this segment, Eric also asks Tricia about what differentiates her from her company or from other CFOs. She mentions that she is planning on changing her company’s name to FinCore in alignment with what she believes in. The same way a dancer has to strengthen their core, the same goes for business and women business owners. What differs is their approach. She gives her clients ``tough love”, meaning she wants to make sure she gives her clients the answers they're looking for and help them reach their goals.

Segment 4

In the segment, Eric brings up Tricia’s upcoming book. She's still in the process of writing a book. She started the process back in April/May of this year. The name of her book is called “Dancing with Numbers”, thinking about business owners who want to have a better relationship with their “numbers”. She uses the metaphor about dancing because it takes a moment to get into a groove sometimes. She hopes that with her book, she can help businesses flow with their numbers and by taking steps, reaching their financial goals. You can pre order her book by connecting with her Instagram @artofmoneymatters and click on the link in her bio. Tricia thanks Eric for giving her this platform to talk about her passion and tips as well as her company. She also gives a great message for business owners out there to keep moving forward and be consistent. You can connect with Tricia Taitt on Instagram and her website artofmoneymatters.com. Eric and Tricia wish everyone a good evening and happy holidays!


Transcript

00:03:11.280 --> 00:03:15.750 Eric Sarver, Esq.: Good evening, welcome to learn a lot today i'm your host erick Sava.

00:03:16.230 --> 00:03:25.860 Eric Sarver, Esq.: i'm an employment law and business law attorney and I host this weekly live talk radio show and video broadcast every Tuesday evening from 5pm.

00:03:26.130 --> 00:03:39.090 Eric Sarver, Esq.: To 6pm Eastern standard time right here on talk radio nyc where I have guests that talk about some of the most challenging and novel issues that are faced by business owners in our.

00:03:40.050 --> 00:03:47.760 Eric Sarver, Esq.: In our business, industry during these challenging times I have guests, to talk about matters of finance employee morale.

00:03:48.600 --> 00:03:55.500 Eric Sarver, Esq.: logistics and basically across the board topics that I think small midsize businesses can relate to.

00:03:56.010 --> 00:04:09.510 Eric Sarver, Esq.: And in that spirit i'm very pleased tonight to welcome back to the show one of our early guests from November 2020 tricia to MBA CFO and founder the art of money matters trisha welcome back to the show.

00:04:10.950 --> 00:04:14.790 Tricia Taitt, MBA, C.F.O: hi, thank you for having me back I can't believe November 2020.

00:04:16.050 --> 00:04:17.220 Tricia Taitt, MBA, C.F.O: I know right over here.

00:04:17.670 --> 00:04:33.570 Eric Sarver, Esq.: Yet, though isn't think November 3 I think in 2014 to my notes and I saw when I was talking to you last last time but it's it's a crazy fast time flies by so good to have you back, though, and a lots changed since then, but some things have stayed the same.

00:04:34.620 --> 00:04:42.720 Eric Sarver, Esq.: And I think in that note on that one might share with our audience a little bit about what our topic is it before giving you a little more proper introduction.

00:04:43.560 --> 00:04:50.100 Eric Sarver, Esq.: So our topic again is financial plan or financial factors to your business budgeting and planning.

00:04:50.820 --> 00:05:00.840 Eric Sarver, Esq.: During cover 19 and what we're talking about really is it with the ongoing over 19 pandemic, the landscape for running a business is consistently changing.

00:05:01.350 --> 00:05:06.780 Eric Sarver, Esq.: Its changing trish was on this show last time in November of last year to change to where we are today.

00:05:07.290 --> 00:05:17.310 Eric Sarver, Esq.: And the question becomes how have such changes impacted the budgeting process and the financial strategies for business owners, as you plan ahead.

00:05:17.670 --> 00:05:24.480 Eric Sarver, Esq.: How can your company implement a successful budgeting process that focuses on the day to day operations and the big picture.

00:05:25.260 --> 00:05:41.190 Eric Sarver, Esq.: And the question becomes what financial strategies and what actions should you consider as your business goes over issues such as a remote or impressing workforce or succession planning for takes into account other factor is that the pandemic that brought to the forefront.

00:05:42.390 --> 00:05:53.820 Eric Sarver, Esq.: Tonight, you should take, and I will be discussing some of the financial strategies and the tools, you want to have in your arsenal as a business owner, as we endure this ongoing pandemic.

00:05:54.450 --> 00:06:02.250 Eric Sarver, Esq.: And with that trisha I will let our audience know a little bit about you, if I can just reading your intro, if I may.

00:06:05.280 --> 00:06:07.230 Eric Sarver, Esq.: All right, we'll do so.

00:06:08.520 --> 00:06:22.980 Eric Sarver, Esq.: I guess, as I mentioned proxy is tricia tape MBA she's a virtual CFO and our first CFO financial consultant, and the founder and principal of the art of money matters, which is an outsourced CFO and financial consulting firm for businesses.

00:06:23.820 --> 00:06:29.100 Eric Sarver, Esq.: And spending eight years on Wall Street might be nine years now, this is a fire by oh.

00:06:30.060 --> 00:06:38.910 Eric Sarver, Esq.: i'm sorry eight years i'm watching an equity market sales specialist and corporate finance manager an industry powerhouses such as Merrill Lynch and Citigroup.

00:06:39.390 --> 00:06:51.570 Eric Sarver, Esq.: trisha Kate decides to use record finance and accounting skills to provide outsourced CFO and financial consulting services to small and midsize businesses such as those audience tonight.

00:06:53.250 --> 00:06:56.610 Eric Sarver, Esq.: there's believe she can make a bigger and more personally rewarding impact.

00:06:57.360 --> 00:07:07.860 Eric Sarver, Esq.: And in September 2014 tricia founded the art of money matters we can outsource CFO firm that offers growth minded small to mid sized businesses.

00:07:08.370 --> 00:07:19.170 Eric Sarver, Esq.: revenues of 1 million and above the annual financial expertise and big picture perspective that helped drive profitability improve cash flow.

00:07:19.650 --> 00:07:27.180 Eric Sarver, Esq.: assess the financial health of their business and uncover opportunities to increase profit margin and develop tactics to fund growth.

00:07:27.810 --> 00:07:38.070 Eric Sarver, Esq.: And this team is an aggregate she's a speaker and the driving force behind support for women owned businesses and has provided invaluable support to ruin and small business, including organizing.

00:07:38.430 --> 00:07:49.680 Eric Sarver, Esq.: are participating in conferences and related events, and I know she has probably more to share with us tonight so trish I guess my welcome you to the show.

00:07:51.660 --> 00:07:54.540 Tricia Taitt, MBA, C.F.O: Thank you for having me that was a mouthful i'm sorry.

00:07:58.290 --> 00:08:02.310 Eric Sarver, Esq.: I wouldn't put it down for too long, but I thought it was it just enough.

00:08:02.790 --> 00:08:11.880 Eric Sarver, Esq.: To better organize it know that they're good and tonight that you are hopeful financial tools are are really you know, coming from a knowledgeable place so not to worry.

00:08:13.890 --> 00:08:28.590 Eric Sarver, Esq.: Though i'm washing my first question which might sound funny in that context which is talking more about yourself tell us you know feel free to fill in the blanks like what inspired you to form your business and do you have any passion projects that you want to share with us tonight.

00:08:30.030 --> 00:08:31.320 Tricia Taitt, MBA, C.F.O: yeah absolutely.

00:08:31.380 --> 00:08:32.040 um.

00:08:33.720 --> 00:08:49.410 Tricia Taitt, MBA, C.F.O: I I did not intend necessarily to be an entrepreneur, I was in search of would allow me to still be practice math accounting numbers and spreadsheets but in a way that I felt would.

00:08:51.420 --> 00:08:53.910 Tricia Taitt, MBA, C.F.O: have a greater impact on.

00:08:55.020 --> 00:08:59.700 Tricia Taitt, MBA, C.F.O: The world on the Community or some something higher than like corporate America.

00:09:00.450 --> 00:09:01.590 Tricia Taitt, MBA, C.F.O: Corporate businesses.

00:09:02.640 --> 00:09:11.100 Tricia Taitt, MBA, C.F.O: And it was very it was a very difficult decision to make because going to go into school that was an undergrad and going to school.

00:09:12.600 --> 00:09:15.300 Tricia Taitt, MBA, C.F.O: At Duke for your MBA you're kind of geared towards the.

00:09:15.300 --> 00:09:16.890 Tricia Taitt, MBA, C.F.O: path of being a corporate.

00:09:16.980 --> 00:09:19.740 Tricia Taitt, MBA, C.F.O: Finance person or corporate person.

00:09:20.790 --> 00:09:25.350 Tricia Taitt, MBA, C.F.O: On the recession helped me make that decision, the recession of 2009.

00:09:25.650 --> 00:09:28.170 Tricia Taitt, MBA, C.F.O: And then I lost my job at citi Group and

00:09:28.470 --> 00:09:40.410 Tricia Taitt, MBA, C.F.O: It was a good opportunity for me to figure out what else was out there and I wasn't really sure, but there was a program that New York City mayor Bloomberg had curated.

00:09:40.740 --> 00:09:41.850 Eric Sarver, Esq.: For a lot of the.

00:09:41.850 --> 00:09:53.070 Tricia Taitt, MBA, C.F.O: Financial people that lost jobs from for dealers and in that opportunity I got paired to be a consultant, with a performing arts company.

00:09:53.400 --> 00:09:58.140 Tricia Taitt, MBA, C.F.O: And that was lucky, for me, because I have a passion for dance and the performing arts.

00:10:00.540 --> 00:10:05.670 Tricia Taitt, MBA, C.F.O: And so, while I decided to do two things at the same time for suited to loves at the same time.

00:10:06.030 --> 00:10:11.340 Tricia Taitt, MBA, C.F.O: Was pursuing Dan something I hadn't been encouraged to do.

00:10:12.570 --> 00:10:16.680 Tricia Taitt, MBA, C.F.O: You know, as I was, I was, I was growing up because dance wasn't considered a real job.

00:10:17.400 --> 00:10:26.040 Tricia Taitt, MBA, C.F.O: So I figured late 20s early 30s if i'm going to give this a shot i'm going to give it a shot now, so I gave myself like five years to do something big and I ended up.

00:10:26.640 --> 00:10:41.370 Tricia Taitt, MBA, C.F.O: On a broadway show but simultaneously to make money i'd freelance consult for small businesses from not for profits and for performing arts companies or agencies that had.

00:10:42.510 --> 00:10:43.680 Tricia Taitt, MBA, C.F.O: You know, half a million or.

00:10:43.680 --> 00:10:44.310 Eric Sarver, Esq.: 3 million or.

00:10:44.340 --> 00:10:57.150 Tricia Taitt, MBA, C.F.O: $5 million budgets and that's when I learned about the world of accounting and finance for small businesses and then eventually after after pursuing broadway my body got a little older, I was like what am I going to do with this.

00:10:57.180 --> 00:11:01.710 Tricia Taitt, MBA, C.F.O: And I decided to start the company so that's that's how the company started.

00:11:02.880 --> 00:11:12.060 Tricia Taitt, MBA, C.F.O: And since my background is is in finance and financial analysis I realized that businesses at a certain stage in their growth need.

00:11:12.810 --> 00:11:26.790 Tricia Taitt, MBA, C.F.O: More than like a CPA and a bookkeeper and they really needed someone to give them strategic advice and thought leadership to help their businesses grow so that's my our company is foremost and outsourced CFO services company.

00:11:27.090 --> 00:11:29.640 Tricia Taitt, MBA, C.F.O: But will also provide the bookkeeping and.

00:11:29.760 --> 00:11:33.480 Tricia Taitt, MBA, C.F.O: Accounting if needed for clients that don't have what keeps.

00:11:35.310 --> 00:11:43.740 Eric Sarver, Esq.: The right interesting you know it's funny for sure how many people come on to the show something they always knew they plan, a plan to be.

00:11:44.490 --> 00:11:50.700 Eric Sarver, Esq.: Their own business owner or search for our rights and feel like a small child, so their parents do it or not.

00:11:51.000 --> 00:11:59.160 Eric Sarver, Esq.: Others they sort of calls that accidental business owner that line because Michael point talks about a lot were some other external circumstances say.

00:11:59.430 --> 00:12:08.160 Eric Sarver, Esq.: No fortunate, you are to your own are only here to the States to open up and explore around it sounds as if that was maybe the category for you as.

00:12:09.270 --> 00:12:20.760 Eric Sarver, Esq.: far as organization, but then nothing financial section 2008 nine and so forth it's so good to hear that you took that as an opportunity that crisis, I know the term crisis.

00:12:21.390 --> 00:12:39.450 Eric Sarver, Esq.: and simple to me an opportunity right sounds like you found opportunity also the whole contract the passion for dance and theater for an artist and being able to see small businesses in that area and another one is efficient, to see that come together so nicely to share that with us.

00:12:41.310 --> 00:12:47.940 Eric Sarver, Esq.: And you know with that one other issue, maybe some questions about a topic, and we have some background for you.

00:12:49.110 --> 00:12:56.370 Eric Sarver, Esq.: So what are some of the key steps to establish a solid budget and say for the business.

00:12:58.650 --> 00:13:04.770 Tricia Taitt, MBA, C.F.O: As his funny yes, I didn't realize, I had to speaking engagements in one day, so I spoke about this earlier.

00:13:05.400 --> 00:13:10.080 Tricia Taitt, MBA, C.F.O: mom at an event sponsored by score and yc.

00:13:11.610 --> 00:13:18.360 Tricia Taitt, MBA, C.F.O: And so the process, I take with clients and i'm actually actively working with a couple with a couple clients.

00:13:18.840 --> 00:13:24.180 Tricia Taitt, MBA, C.F.O: I should, budget and plan for 2022 So the first step that I take is.

00:13:25.440 --> 00:13:34.920 Tricia Taitt, MBA, C.F.O: I look at the past years financials to get just an a base understanding of how the business makes money and how it used uses money.

00:13:36.300 --> 00:13:39.540 Tricia Taitt, MBA, C.F.O: And then also to start with a baseline of financials at least.

00:13:39.630 --> 00:13:40.440 Eric Sarver, Esq.: At least from the.

00:13:40.470 --> 00:13:42.450 Tricia Taitt, MBA, C.F.O: piano so you start a budget was.

00:13:42.690 --> 00:13:45.030 Eric Sarver, Esq.: just looking at the piano what is the revenue expect.

00:13:45.480 --> 00:13:47.460 Tricia Taitt, MBA, C.F.O: And what are the expense expenses.

00:13:47.490 --> 00:13:48.240 Eric Sarver, Esq.: That you expect.

00:13:48.360 --> 00:13:56.040 Tricia Taitt, MBA, C.F.O: To use, then you start to add other other cash flow lines are ways that you expect to spend money, so I use that as the basis.

00:13:56.430 --> 00:13:57.450 Eric Sarver, Esq.: The second step.

00:13:59.250 --> 00:14:02.460 Tricia Taitt, MBA, C.F.O: is to sit with the business owner and the leadership team.

00:14:02.940 --> 00:14:05.880 Tricia Taitt, MBA, C.F.O: And maybe a couple of departmental heads to figure out what is the.

00:14:05.880 --> 00:14:18.180 Tricia Taitt, MBA, C.F.O: plan for the next 1218 months two years, what is the plan and then really dig into like how you're going to get to whatever your your goal is from soup to NUTS like.

00:14:18.510 --> 00:14:28.170 Tricia Taitt, MBA, C.F.O: From the moment that the client, especially if you're going to grow meaning add a new service expand a product line open a new location like walk through from soup to nuts.

00:14:28.200 --> 00:14:41.490 Tricia Taitt, MBA, C.F.O: Exactly how you're going to execute that growth plan or idea, and then, when you walk through those things, then I can help the business owner formulate sort of like what costs.

00:14:42.540 --> 00:14:54.330 Tricia Taitt, MBA, C.F.O: What costs are going to be impacted and how to map that out from a timing standpoint, and then we overlay that with with revenues with looking at revenue, I know it's hard for people to forecast revenue going.

00:14:54.390 --> 00:14:55.050 Tricia Taitt, MBA, C.F.O: forward.

00:14:55.380 --> 00:14:56.970 Eric Sarver, Esq.: But that's when you dive into.

00:14:57.090 --> 00:15:00.600 Tricia Taitt, MBA, C.F.O: The both parts of the equation, which is price and quantity and then.

00:15:00.660 --> 00:15:01.710 Tricia Taitt, MBA, C.F.O: And we talked about like.

00:15:02.160 --> 00:15:07.590 Tricia Taitt, MBA, C.F.O: Where do you expect clients to come from what channels what how many of these projects.

00:15:08.460 --> 00:15:12.720 Tricia Taitt, MBA, C.F.O: How many of this kind of product if your product based company so.

00:15:12.810 --> 00:15:17.220 Tricia Taitt, MBA, C.F.O: I tried to the questions that I asked help motivate the thinking.

00:15:17.520 --> 00:15:19.260 Tricia Taitt, MBA, C.F.O: And then, as a CFO is a.

00:15:19.260 --> 00:15:23.070 Tricia Taitt, MBA, C.F.O: Financial person we as long as you have good assumptions.

00:15:23.130 --> 00:15:30.960 Tricia Taitt, MBA, C.F.O: Reasonable assumptions, you could make a budget that makes sense and then, if there's a shortfall between the revenue.

00:15:30.960 --> 00:15:34.020 Tricia Taitt, MBA, C.F.O: forecasting and the expense forecasted then.

00:15:34.050 --> 00:15:37.440 Tricia Taitt, MBA, C.F.O: You try to figure out what funding opportunities are available.

00:15:37.770 --> 00:15:39.780 Tricia Taitt, MBA, C.F.O: to fund that shortfall, but if you're.

00:15:40.200 --> 00:15:49.950 Tricia Taitt, MBA, C.F.O: Planning you know at least 12 months 18 months in advance, then you have time to look for funders and the right funding, so those are like the four to five steps that we take.

00:15:51.120 --> 00:16:04.050 Eric Sarver, Esq.: Interesting you know what strikes me in that in that sort of the plan of action steps and share tuition is the first step is to get as much information as we're looking at, you mentioned the underlying belief on the.

00:16:05.100 --> 00:16:15.090 Eric Sarver, Esq.: right path, your financials on before we make a plan well you know you have to know what you're doing and we pen right if you have.

00:16:17.760 --> 00:16:22.590 Eric Sarver, Esq.: A Vision without a plan is elucidation or something to that effect, but they cannot do anything.

00:16:23.550 --> 00:16:30.480 Eric Sarver, Esq.: They can be an accurate forecast for you can do so interesting that you mentioned that, as the first step and then.

00:16:31.260 --> 00:16:37.770 Eric Sarver, Esq.: dimension, having that funding shortfall sort of plans Okay, what would have to say, the revenue is not as high.

00:16:38.280 --> 00:16:49.500 Eric Sarver, Esq.: And the expenses are what they are even higher, how do you make a shortfall, which I imagine a lot of companies who did 1218 months plans that say, and then they did 2019.

00:16:50.370 --> 00:17:06.630 Eric Sarver, Esq.: had to do some big shifting you know uncovered a team came around so interesting that you have you can use certain assumptions, but then still have sort of a contingency backup plan if let's say epidemic cancer and economic recession that there are ways to get make a bet Monday shortfall.

00:17:09.480 --> 00:17:09.750 Tricia Taitt, MBA, C.F.O: yeah.

00:17:10.980 --> 00:17:16.500 Tricia Taitt, MBA, C.F.O: Essentially, got it, I mean you have that the projections are in numerical representation of your plan.

00:17:17.640 --> 00:17:24.480 Tricia Taitt, MBA, C.F.O: You need you need to have a plan and then sometimes I have to force the business owner to tease through the plan to get to the numbers.

00:17:24.540 --> 00:17:25.620 Tricia Taitt, MBA, C.F.O: But uh but yeah.

00:17:26.820 --> 00:17:32.850 Eric Sarver, Esq.: Interesting well, we have our first commercial break and you can believe in time it was he having fun anytime was quickly.

00:17:33.570 --> 00:17:44.790 Eric Sarver, Esq.: i'll just our audience now you're watching or listening to you employment law today i'm your host erick solder, employment law business attorney my guest tonight tisha T MBA and unstressed CFO.

00:17:45.300 --> 00:17:56.040 Eric Sarver, Esq.: Stick around we'll talk more about key to establishing our budget and we'll talk about succession planning and tricia his new book so stay tuned we'll be right back.

00:20:14.670 --> 00:20:24.750 Eric Sarver, Esq.: There we go okay welcome back to class today and i'm stuck in the back to the here tonight with my guest tricia to nba and I see if.

00:20:25.440 --> 00:20:32.430 Eric Sarver, Esq.: we're talking about some key steps for establishing a smaller budget and financial planning and forecasting, for your business.

00:20:32.880 --> 00:20:38.430 Eric Sarver, Esq.: I think is a very important topic really time right let's face not just sharing code, with a team button.

00:20:39.000 --> 00:20:49.110 Eric Sarver, Esq.: With these uncertain times like it seems more important had a solid who's a template itself officially read again, have you on the show aggression is it these this done and the topic for us.

00:20:50.730 --> 00:20:52.230 Tricia Taitt, MBA, C.F.O: Thank you very much for having me.

00:20:52.890 --> 00:20:54.240 Eric Sarver, Esq.: A pleasure, yes, and so.

00:20:55.440 --> 00:21:08.850 Eric Sarver, Esq.: I think you make an interesting game hearing some of your earlier point of view, my notes here is taken, while you are speaking, the idea that it's a you know you look at your pricing quantity of a service they kind of take a look and see.

00:21:10.050 --> 00:21:20.700 Eric Sarver, Esq.: What how much you might expect to selves and certain certain product or path of certain service so imagine you look like your past clients and how much they contribute.

00:21:22.050 --> 00:21:35.790 Eric Sarver, Esq.: I just and I can wonder like let's say you're adjusting your budget right let's say you making decisions around like should you be a remote versus in person workforce, or you know how do you think you want to look into session time.

00:21:37.140 --> 00:21:46.920 Eric Sarver, Esq.: And the fact that the epidemic has made really at the forefront of people's minds so i'm going to make judgments to a business budget to a business owner consider.

00:21:50.430 --> 00:21:53.250 Tricia Taitt, MBA, C.F.O: Their factory and decision.

00:21:54.960 --> 00:22:01.380 Tricia Taitt, MBA, C.F.O: The decision to go full remote or you know, would it accordingly or decided accordingly.

00:22:01.920 --> 00:22:03.930 Tricia Taitt, MBA, C.F.O: there's a lot of different things to and.

00:22:05.100 --> 00:22:08.340 Tricia Taitt, MBA, C.F.O: there's a lot of different things to consider in factor in.

00:22:09.810 --> 00:22:15.210 Tricia Taitt, MBA, C.F.O: The first thing I would say is make sure you hire a person, a financial consultant and outsourced CFO.

00:22:15.210 --> 00:22:18.180 Tricia Taitt, MBA, C.F.O: They can do this sort of scenario analysis for you.

00:22:18.570 --> 00:22:32.610 Tricia Taitt, MBA, C.F.O: so that you can see, which is the most profitable proposition on the second thing I would say is have a conversation with the employees, first, to see what they want, because some of them might opt in to working from working from home.

00:22:32.730 --> 00:22:33.840 I know a lot of people.

00:22:34.920 --> 00:22:37.800 Tricia Taitt, MBA, C.F.O: love the flexibility of that and are willing.

00:22:38.160 --> 00:22:39.690 Eric Sarver, Esq.: Maybe not to take a pay cut but.

00:22:39.840 --> 00:22:47.520 Tricia Taitt, MBA, C.F.O: willing to work longer days or longer hours committed and loyal may even help your culture in a way.

00:22:47.910 --> 00:23:08.250 Tricia Taitt, MBA, C.F.O: So we have a conversation with the employees, first because that might also help you figure out what you need to do, which employees to factor into your ongoing costs, now I read a lot of articles, they are looking at the costs and benefits to small business owners from the remote workforce.

00:23:08.610 --> 00:23:12.360 Tricia Taitt, MBA, C.F.O: Not including the fact that you might get more squeeze.

00:23:12.840 --> 00:23:14.280 Tricia Taitt, MBA, C.F.O: Your employees, because they'll.

00:23:14.280 --> 00:23:14.970 Eric Sarver, Esq.: Work extra.

00:23:15.000 --> 00:23:18.210 Tricia Taitt, MBA, C.F.O: hours if you had a space you'll have a decrease.

00:23:18.270 --> 00:23:24.510 Tricia Taitt, MBA, C.F.O: In operational costs because we won't have the same rental expenses on.

00:23:24.540 --> 00:23:34.020 Tricia Taitt, MBA, C.F.O: or you may be able to downsize your space and then some places are talking about you know just the cost of of employee retention.

00:23:34.410 --> 00:23:36.750 Tricia Taitt, MBA, C.F.O: A lot of people lost employees or had to.

00:23:37.830 --> 00:23:43.560 Tricia Taitt, MBA, C.F.O: let go of employees and now they're trying to hire really hard to find good talent.

00:23:43.980 --> 00:23:45.960 Tricia Taitt, MBA, C.F.O: At an economical price.

00:23:46.200 --> 00:23:46.980 Eric Sarver, Esq.: Because I don't know.

00:23:47.010 --> 00:23:50.850 Tricia Taitt, MBA, C.F.O: Everybody everybody got the memo to to ask for six figures I don't.

00:23:50.880 --> 00:23:51.420 know why.

00:23:52.650 --> 00:23:57.600 Tricia Taitt, MBA, C.F.O: But you know there's a cost factor to hiring besides just a salary like you got to.

00:23:57.600 --> 00:23:58.470 Tricia Taitt, MBA, C.F.O: train them.

00:23:59.340 --> 00:24:04.440 Tricia Taitt, MBA, C.F.O: You know, make sure they're they're familiar with the ins and outs of your business and all of that is.

00:24:04.590 --> 00:24:13.890 Tricia Taitt, MBA, C.F.O: Costs at times so there's a cost benefit and cost savings sometimes they work, but what I realized.

00:24:16.470 --> 00:24:17.010 Tricia Taitt, MBA, C.F.O: In.

00:24:17.430 --> 00:24:18.330 Tricia Taitt, MBA, C.F.O: Working with.

00:24:19.410 --> 00:24:21.840 Tricia Taitt, MBA, C.F.O: Some clients that are full remote.

00:24:23.280 --> 00:24:25.860 Tricia Taitt, MBA, C.F.O: Is there are some additional courses you.

00:24:25.860 --> 00:24:30.000 Tricia Taitt, MBA, C.F.O: don't think about my understanding is that workers COMP.

00:24:32.580 --> 00:24:33.180 Eric Sarver, Esq.: To be here.

00:24:33.240 --> 00:24:33.660 If your.

00:24:35.130 --> 00:24:38.070 Tricia Taitt, MBA, C.F.O: Workers COMP your the employers, workers time.

00:24:38.100 --> 00:24:41.370 Tricia Taitt, MBA, C.F.O: sometimes ask them now cover where the employees.

00:24:42.300 --> 00:24:44.610 Tricia Taitt, MBA, C.F.O: So you don't know if they trip over something.

00:24:45.180 --> 00:24:46.920 Tricia Taitt, MBA, C.F.O: In their house like, why should you.

00:24:47.280 --> 00:24:49.560 Tricia Taitt, MBA, C.F.O: be responsible as the employer that's.

00:24:49.800 --> 00:24:51.600 Tricia Taitt, MBA, C.F.O: Just one thing that i've been hearing about.

00:24:51.630 --> 00:24:53.220 Eric Sarver, Esq.: Another thing is i'm.

00:24:53.430 --> 00:24:55.770 Tricia Taitt, MBA, C.F.O: paying for the cost of hardware so.

00:24:56.100 --> 00:25:09.990 Tricia Taitt, MBA, C.F.O: Now, your employees are using their own their own computers their own that laptops want to make sure they're secure and that you came for cyberspace security, security and things are on the company server you're paying for hardware you're paying for printers.

00:25:10.260 --> 00:25:11.610 Tricia Taitt, MBA, C.F.O: you're paying for their paper and.

00:25:11.670 --> 00:25:15.990 Tricia Taitt, MBA, C.F.O: ink you know people in disparate locations so.

00:25:16.110 --> 00:25:16.620 Tricia Taitt, MBA, C.F.O: You might.

00:25:16.920 --> 00:25:17.520 Tricia Taitt, MBA, C.F.O: You know.

00:25:18.600 --> 00:25:26.100 Tricia Taitt, MBA, C.F.O: want to do scenario analysis to figure out like what is really the cost benefit for all of.

00:25:26.160 --> 00:25:27.360 Tricia Taitt, MBA, C.F.O: These things and then.

00:25:28.170 --> 00:25:29.910 Tricia Taitt, MBA, C.F.O: I know this was the case for a lot of.

00:25:31.710 --> 00:25:33.630 Tricia Taitt, MBA, C.F.O: old school firms, let me just say it like that.

00:25:35.220 --> 00:25:36.330 Tricia Taitt, MBA, C.F.O: Most firms I.

00:25:36.360 --> 00:25:37.620 Tricia Taitt, MBA, C.F.O: felt like you have to.

00:25:37.620 --> 00:25:38.310 Eric Sarver, Esq.: These people.

00:25:38.340 --> 00:25:39.990 Eric Sarver, Esq.: In person right.

00:25:40.290 --> 00:25:49.950 Tricia Taitt, MBA, C.F.O: They were forced to outfit their entire home with technology and and system that makes things run more efficiently and that can can work.

00:25:50.280 --> 00:25:51.180 Tricia Taitt, MBA, C.F.O: Fully remotely.

00:25:51.930 --> 00:25:53.220 Tricia Taitt, MBA, C.F.O: huge investments they were.

00:25:53.760 --> 00:26:03.240 Tricia Taitt, MBA, C.F.O: On for ongoing investment, but if you are transitioning to 100% remote workforce, what we have to consider that upfront investment it's like it's like a.

00:26:03.510 --> 00:26:05.640 Tricia Taitt, MBA, C.F.O: Foot startup costs so.

00:26:06.300 --> 00:26:08.190 Tricia Taitt, MBA, C.F.O: Those are like the pros and cons.

00:26:09.300 --> 00:26:17.550 Tricia Taitt, MBA, C.F.O: That you need to consider when you're when you're thinking about budgeting and deciding on remote or semi remote workforce.

00:26:18.870 --> 00:26:20.880 Eric Sarver, Esq.: You know, in addition to that.

00:26:23.040 --> 00:26:25.980 Eric Sarver, Esq.: So in our practice employment law business lot and.

00:26:26.730 --> 00:26:33.390 Eric Sarver, Esq.: A lot of my clients like you know are going through this issue right now they're looking to me more for legal perspective, like hey we want to go or removed.

00:26:33.750 --> 00:26:43.680 Eric Sarver, Esq.: And what can we do we do we have to pay basis laid out employment translate from which state the workers compensation perfect example like if a company right if if an employee.

00:26:44.100 --> 00:26:49.350 Eric Sarver, Esq.: is required to work from their home and they get injured, maybe tripping over that new equipment that you.

00:26:49.680 --> 00:26:55.740 Eric Sarver, Esq.: Right at them install an extra router different wires to their printer and searching because they fall break their shoulder.

00:26:56.280 --> 00:26:58.440 Eric Sarver, Esq.: You can be liable, and it can be policy that steak.

00:26:58.860 --> 00:27:08.190 Eric Sarver, Esq.: That it was expensive because it's in the home at different people's homes, it can be more expensive than having saying one policy covering the office you know, on 26th street and third avenue so.

00:27:08.580 --> 00:27:19.500 Eric Sarver, Esq.: absolutely correct I get questions about the legal part like what's you know saying in any contract request who's an employee, but we know what you're talking about it's very important with these costs because.

00:27:20.550 --> 00:27:32.250 Eric Sarver, Esq.: I think, like a lot of people when they think about costs and keeping track the more obvious ones jumped out of them so they think Okay, well, we had 10 employees in an office, this was the rent was for all the employees, this is what it costs.

00:27:32.880 --> 00:27:39.750 Eric Sarver, Esq.: You think they have the lights on in the air conditioning running and now they're home direct costs, but to your point.

00:27:40.080 --> 00:27:47.910 Eric Sarver, Esq.: What are you paying for their cyber security for the computers right, what are you paying let's say, for the most tech support and Stephen on an onsite person so.

00:27:48.390 --> 00:27:55.080 Eric Sarver, Esq.: I what I hear you saying is really look at all those costs and detail and we're going to branch out and in your analysis don't just.

00:27:55.470 --> 00:28:03.720 Eric Sarver, Esq.: Think of the immediate cost savings of oh we're remote so there's no office rent so it's I think it's a good point and I think you also made a great point about.

00:28:04.260 --> 00:28:19.320 Eric Sarver, Esq.: hiring people to help the carina for CFO no don't don't do this project planning alone, because you can't see you can't see you don't know what you don't know and the blind spot thinking your rear view mirror this where you can imagine right to help people with that.

00:28:20.490 --> 00:28:20.790 Tricia Taitt, MBA, C.F.O: yeah.

00:28:20.820 --> 00:28:27.690 Tricia Taitt, MBA, C.F.O: I mean there's various implications like again i'm working with a couple different clients on their budgets and everybody's budget a little different.

00:28:28.830 --> 00:28:30.720 Tricia Taitt, MBA, C.F.O: The truth i'm working on now it's their first.

00:28:30.720 --> 00:28:38.070 Tricia Taitt, MBA, C.F.O: Time implementing it one one is creating a budget for toward reporting purposes and there's needs to be shown quarterly.

00:28:38.550 --> 00:28:45.960 Tricia Taitt, MBA, C.F.O: Which isn't as complicated to estimate as a monthly budget and but and, by the way, two things I would say.

00:28:47.040 --> 00:28:48.480 Tricia Taitt, MBA, C.F.O: Well, let me finish that thought first.

00:28:48.540 --> 00:28:51.630 Tricia Taitt, MBA, C.F.O: Sure, so, so the more complicated budget.

00:28:51.990 --> 00:28:53.460 Eric Sarver, Esq.: requires me speaking.

00:28:53.850 --> 00:29:00.300 Tricia Taitt, MBA, C.F.O: department head the CEO and CIO it requires me speaking to the marketing person to.

00:29:00.780 --> 00:29:09.960 Tricia Taitt, MBA, C.F.O: Their their line item is, in my eyes me speaking to the IT services person to figure out what the ongoing costs and the investments for hardware and software, going to be.

00:29:10.260 --> 00:29:12.720 Tricia Taitt, MBA, C.F.O: Like it wouldn't mind so many conversations and.

00:29:12.720 --> 00:29:14.490 Tricia Taitt, MBA, C.F.O: In a remote environment.

00:29:14.700 --> 00:29:14.850 and

00:29:16.530 --> 00:29:17.070 Tricia Taitt, MBA, C.F.O: that's a lot of.

00:29:17.880 --> 00:29:18.270 A lot of.

00:29:19.590 --> 00:29:20.310 Tricia Taitt, MBA, C.F.O: words.

00:29:20.580 --> 00:29:21.510 Tricia Taitt, MBA, C.F.O: Yes.

00:29:21.540 --> 00:29:23.310 Eric Sarver, Esq.: back and forth communication to.

00:29:23.310 --> 00:29:26.520 Tricia Taitt, MBA, C.F.O: get to the point, as opposed to like sitting in a conference room.

00:29:27.570 --> 00:29:28.080 Eric Sarver, Esq.: And and.

00:29:28.110 --> 00:29:32.340 Tricia Taitt, MBA, C.F.O: And having different conversations, so you know what.

00:29:32.790 --> 00:29:36.990 Tricia Taitt, MBA, C.F.O: One of the things I say about budget planning is starts early, especially if you want to.

00:29:37.350 --> 00:29:38.820 Tricia Taitt, MBA, C.F.O: improve or inactive.

00:29:38.910 --> 00:29:41.160 Tricia Taitt, MBA, C.F.O: For the top of the year, I would say start like.

00:29:41.160 --> 00:29:42.390 Tricia Taitt, MBA, C.F.O: September, October.

00:29:43.170 --> 00:29:50.640 Tricia Taitt, MBA, C.F.O: want to plan for the year that's, the first thing second thing I would say is i'm budgeting for 12 months.

00:29:51.060 --> 00:30:02.010 Tricia Taitt, MBA, C.F.O: I think it's best to think about it from a cash perspective, sometimes people want to take one number like that they take $12,000 we put $1,000 each month to get some thousand dollars.

00:30:02.310 --> 00:30:06.180 Tricia Taitt, MBA, C.F.O: that's non cash works like some some some expenses.

00:30:06.210 --> 00:30:21.810 Tricia Taitt, MBA, C.F.O: are going to interview and certain ones than the other, so you try to try to map it out according to how you think that expenses will be used or how many will come in, and you can you get that flow with that feeling or that trend.

00:30:22.200 --> 00:30:22.560 Eric Sarver, Esq.: I look.

00:30:22.770 --> 00:30:25.110 Tricia Taitt, MBA, C.F.O: At this by looking at historic lows.

00:30:25.920 --> 00:30:45.240 Tricia Taitt, MBA, C.F.O: And then the third thing I would say about creating a budget is you know people feel like oh my gosh like this number is set, you know set in stone, if it's an immovable object know it's your best guess estimates of what's going to happen for the future.

00:30:45.660 --> 00:30:45.990 Tricia Taitt, MBA, C.F.O: And the.

00:30:46.200 --> 00:30:53.820 Tricia Taitt, MBA, C.F.O: good thing about a budget is that every let's say quarter, I would recommend that people once they get actual numbers.

00:30:54.540 --> 00:30:58.770 Tricia Taitt, MBA, C.F.O: don't think of something is going to dramatically change.

00:30:59.130 --> 00:31:05.730 Tricia Taitt, MBA, C.F.O: Your budget for the next few quarters next few months, you make what's called a reef forecast so.

00:31:06.180 --> 00:31:17.280 Tricia Taitt, MBA, C.F.O: The actual numbers plus forecasted months, and then it doesn't make a new budget it just makes what's called a we forecast, such as a technical, financial time.

00:31:17.580 --> 00:31:18.180 Eric Sarver, Esq.: so sure.

00:31:21.150 --> 00:31:22.470 Tricia Taitt, MBA, C.F.O: it's amending the budget but you're.

00:31:22.470 --> 00:31:25.680 Tricia Taitt, MBA, C.F.O: Not amending the you can't you're not supposed to amend the budget, the budget.

00:31:26.790 --> 00:31:27.780 Tricia Taitt, MBA, C.F.O: be what it is.

00:31:28.530 --> 00:31:30.750 Tricia Taitt, MBA, C.F.O: And you use it as an easy to use it as a size.

00:31:31.110 --> 00:31:31.770 Eric Sarver, Esq.: But those are going.

00:31:32.010 --> 00:31:33.750 Tricia Taitt, MBA, C.F.O: To be important things to say.

00:31:34.950 --> 00:31:35.250 Tricia Taitt, MBA, C.F.O: About.

00:31:37.650 --> 00:31:44.190 Eric Sarver, Esq.: I think it's very helpful for our audience tonight, because I think you know what does that say Kevin guests on the show Patricia is that.

00:31:45.210 --> 00:31:54.900 Eric Sarver, Esq.: A lot of times the guests our guest share information that people didn't know and what they didn't know kept them sort of reluctant or afraid to do the task at hand so.

00:31:55.410 --> 00:32:05.730 Eric Sarver, Esq.: For example, you talk about the budget process, not just had dividing by 12,000 saying cost by a month and saying okay it's 1000 every month, but going into more detail.

00:32:06.540 --> 00:32:13.500 Eric Sarver, Esq.: People might not know that and they might get frustrated with the results aren't over you also mentioned, which I think what's really important is that.

00:32:14.400 --> 00:32:21.690 Eric Sarver, Esq.: The thought that the budget stopping frozen or fix like it's simply that is like your holy grail, he should or should really focus on them hearing.

00:32:21.990 --> 00:32:34.950 Eric Sarver, Esq.: But if things change or cost the revenue or both, you can rework as, and I wonder how many people might like not do a budget process because they were there free that the numbers a CD.

00:32:35.760 --> 00:32:44.190 Eric Sarver, Esq.: which it might not like it might be frozen or stuck, so I think it's an example that why you know we have guests on the show such as yourself we're very experienced and knowledgeable.

00:32:44.490 --> 00:32:55.350 Eric Sarver, Esq.: To tell people hey you know what you're worried about it's not as hard as you think I get you know you hire someone like yourself, and you know trisha date right, you know, and you start early September, October.

00:32:55.830 --> 00:33:07.050 Eric Sarver, Esq.: And plan out and it can be done with small consistent steps so it's interesting that you reason I think those are three good, solid points that you discuss I think they're nice point to note.

00:33:07.770 --> 00:33:11.640 Eric Sarver, Esq.: That the perfect time for commercial break, we have to take our second commercial break for the evening.

00:33:12.660 --> 00:33:25.290 Eric Sarver, Esq.: folks you're listening to the employment law today or exit America soccer your host my guest tonight tricia take the art of money matters stick around for more information, including how tricia and our company.

00:33:26.280 --> 00:33:35.970 Eric Sarver, Esq.: Provide outsourced CFO services and how she can help your company with things such as improving profit clarity and cash flow so stick around we'll be right back.

00:35:43.980 --> 00:35:56.550 Eric Sarver, Esq.: solver employment law, this is an attorney and here tonight with my gosh outsource factional CFO and business consultant attrition to the art of money matters tisha great to have you on the show.

00:35:57.150 --> 00:35:58.290 Tricia Taitt, MBA, C.F.O: Thank you for having hearing.

00:35:58.710 --> 00:36:04.200 Eric Sarver, Esq.: My pleasure pleasure yep absolutely a lot of your specialty that the top of that thing.

00:36:05.430 --> 00:36:09.690 Eric Sarver, Esq.: Whether or not it before, and this gets it happens, I think, important conversation.

00:36:10.920 --> 00:36:20.610 Eric Sarver, Esq.: which you know it's funny I was thinking about the last question, which was what the adjustments to budgeting budget planning a business owner will consider.

00:36:21.600 --> 00:36:31.260 Eric Sarver, Esq.: For example, factoring in remotes your workforce someone say a topic that's very popular these days, which is succession planning.

00:36:31.830 --> 00:36:43.050 Eric Sarver, Esq.: Did it sort of looking towards the future, who says exceed that what was that did you think a budgeting process would entail would say succession planning is somewhere in the mix.

00:36:45.000 --> 00:36:45.240 Tricia Taitt, MBA, C.F.O: yeah.

00:36:46.710 --> 00:36:48.750 Tricia Taitt, MBA, C.F.O: I feel like this is an important topic.

00:36:50.100 --> 00:36:52.260 Tricia Taitt, MBA, C.F.O: A lot of business owners coming out of.

00:36:54.450 --> 00:36:55.410 Tricia Taitt, MBA, C.F.O: People are making.

00:36:55.650 --> 00:36:56.460 Eric Sarver, Esq.: Important.

00:36:56.670 --> 00:36:58.620 Eric Sarver, Esq.: Life decisions, yes.

00:36:58.650 --> 00:37:00.120 Eric Sarver, Esq.: And some people like.

00:37:00.150 --> 00:37:01.440 Tricia Taitt, MBA, C.F.O: i'm tired of this.

00:37:01.470 --> 00:37:02.880 Tricia Taitt, MBA, C.F.O: Entrepreneurial game.

00:37:03.570 --> 00:37:06.150 Eric Sarver, Esq.: And some of those who were considering.

00:37:06.990 --> 00:37:09.690 Tricia Taitt, MBA, C.F.O: retiring are accelerating their retirement.

00:37:10.470 --> 00:37:11.160 and

00:37:12.210 --> 00:37:21.330 Tricia Taitt, MBA, C.F.O: You know I just realized this is a conversation that a lot of business owners are having considering and i'm actually working with a client, you know starting to.

00:37:22.500 --> 00:37:24.810 Tricia Taitt, MBA, C.F.O: working through the work through this with a client.

00:37:26.400 --> 00:37:27.840 Tricia Taitt, MBA, C.F.O: And so, some immediate.

00:37:27.990 --> 00:37:28.710 Tricia Taitt, MBA, C.F.O: costs that.

00:37:28.770 --> 00:37:30.570 Tricia Taitt, MBA, C.F.O: come up is well.

00:37:32.040 --> 00:37:33.270 Some things to think about.

00:37:34.410 --> 00:37:37.320 Tricia Taitt, MBA, C.F.O: If you haven't already is who's going to succeed, you.

00:37:37.890 --> 00:37:42.540 Tricia Taitt, MBA, C.F.O: What is the govern the governance in a stewardship model going to look like.

00:37:43.800 --> 00:37:44.160 Eric Sarver, Esq.: and

00:37:44.700 --> 00:37:56.100 Tricia Taitt, MBA, C.F.O: What you want out of the deal as a business owner like what do you need financially you still want to be receiving money you still want some voting rights still want to have a say.

00:37:56.430 --> 00:37:58.500 Tricia Taitt, MBA, C.F.O: In the Management Board struck.

00:37:58.710 --> 00:38:03.300 Tricia Taitt, MBA, C.F.O: You know, like it really starts with your goals as a business owner.

00:38:03.780 --> 00:38:04.410 Eric Sarver, Esq.: and

00:38:04.440 --> 00:38:06.240 Tricia Taitt, MBA, C.F.O: The goals that you have for the company.

00:38:07.560 --> 00:38:16.830 Tricia Taitt, MBA, C.F.O: And then, identifying the the leadership team that management team that that you want to have in place.

00:38:17.790 --> 00:38:19.500 Tricia Taitt, MBA, C.F.O: To take it over because.

00:38:19.560 --> 00:38:25.770 Tricia Taitt, MBA, C.F.O: Is the management team is not commenting in business, then you have to start the whole process of thinking about.

00:38:27.300 --> 00:38:29.700 Eric Sarver, Esq.: Potential sooner merger.

00:38:29.760 --> 00:38:38.040 Tricia Taitt, MBA, C.F.O: or acquire of the business, so all of that requires time so when you succession planning, you know that could take at least five years.

00:38:39.150 --> 00:38:42.660 Tricia Taitt, MBA, C.F.O: of consideration conversations you redefining.

00:38:44.070 --> 00:38:46.800 Tricia Taitt, MBA, C.F.O: Your financial advisor and your trust in a state.

00:38:46.860 --> 00:38:47.280 Tricia Taitt, MBA, C.F.O: attorney.

00:38:47.610 --> 00:38:48.300 Eric Sarver, Esq.: to figure out.

00:38:48.330 --> 00:38:51.000 Tricia Taitt, MBA, C.F.O: What is the right plan and your CPA, for that matter.

00:38:52.830 --> 00:38:53.190 Tricia Taitt, MBA, C.F.O: Right.

00:38:53.220 --> 00:38:55.830 Tricia Taitt, MBA, C.F.O: to figure out what is what you want.

00:38:56.520 --> 00:38:58.650 Tricia Taitt, MBA, C.F.O: Right plan for you, and then you start.

00:38:59.700 --> 00:39:01.140 Tricia Taitt, MBA, C.F.O: Looking for the specialist.

00:39:01.170 --> 00:39:04.860 Tricia Taitt, MBA, C.F.O: that's going to help you get there, so I know for sure.

00:39:04.920 --> 00:39:07.830 Tricia Taitt, MBA, C.F.O: That trusted estate succession planning specialist.

00:39:08.190 --> 00:39:11.700 Tricia Taitt, MBA, C.F.O: That can get an idea of what is the right governance or students to worship model.

00:39:12.240 --> 00:39:16.860 Tricia Taitt, MBA, C.F.O: No matter what the governance of stewardship model you're going to need evaluation done.

00:39:17.400 --> 00:39:20.010 Tricia Taitt, MBA, C.F.O: You didn't even valuation specialist so there's that.

00:39:21.360 --> 00:39:28.200 Tricia Taitt, MBA, C.F.O: And then, and you might need a business broker if you're looking for somebody to merge acquire your business or service.

00:39:28.740 --> 00:39:32.370 Tricia Taitt, MBA, C.F.O: Right So these are additional Those are just those are just professional fees.

00:39:32.730 --> 00:39:33.150 Eric Sarver, Esq.: sure.

00:39:33.360 --> 00:39:35.100 Tricia Taitt, MBA, C.F.O: That that you're thinking about and then.

00:39:36.150 --> 00:39:37.320 Tricia Taitt, MBA, C.F.O: And then you get into the nitty.

00:39:37.320 --> 00:39:37.710 Tricia Taitt, MBA, C.F.O: gritty of.

00:39:38.220 --> 00:39:39.540 Tricia Taitt, MBA, C.F.O: How do you need to clean up.

00:39:40.680 --> 00:39:42.360 Tricia Taitt, MBA, C.F.O: The operations of the business so it's.

00:39:42.360 --> 00:39:43.530 Tricia Taitt, MBA, C.F.O: attractive to.

00:39:43.890 --> 00:39:49.890 Tricia Taitt, MBA, C.F.O: is going to take it over and you know if your sales team looks a mess, if your customer.

00:39:49.920 --> 00:39:51.450 Tricia Taitt, MBA, C.F.O: Experience what's the Max.

00:39:51.780 --> 00:39:55.620 Tricia Taitt, MBA, C.F.O: Yes, if you if you need to beat up your financial operations.

00:39:55.770 --> 00:40:01.140 Tricia Taitt, MBA, C.F.O: So you know, during the time when we're trying to figure out, you know find the right suitor.

00:40:01.530 --> 00:40:02.400 Eric Sarver, Esq.: And figure out what's the.

00:40:02.430 --> 00:40:07.110 Tricia Taitt, MBA, C.F.O: right model for going forward it's important to look at like maybe have.

00:40:08.460 --> 00:40:10.830 Tricia Taitt, MBA, C.F.O: An operations or a strategy.

00:40:10.890 --> 00:40:14.850 Tricia Taitt, MBA, C.F.O: strategy is kind of person help you identify.

00:40:14.910 --> 00:40:15.960 Eric Sarver, Esq.: The things that need.

00:40:16.080 --> 00:40:16.530 Eric Sarver, Esq.: fixing.

00:40:17.280 --> 00:40:23.010 Tricia Taitt, MBA, C.F.O: In the business and then find the professionals to to to help make that happen.

00:40:24.510 --> 00:40:25.050 Eric Sarver, Esq.: yeah.

00:40:26.190 --> 00:40:29.610 Tricia Taitt, MBA, C.F.O: i'll talk about it, that is quite a blog about it man that's a lot of stuff.

00:40:31.470 --> 00:40:40.440 Eric Sarver, Esq.: For sure i'm going to end this stuff I think another 30 seconds to talk to your business asked me about device solving is my employees, making sure that.

00:40:40.830 --> 00:40:49.230 Eric Sarver, Esq.: The partnerships that might happen and humid and also going to need to make sure as managing cloud icon spreading the part of the conversation.

00:40:49.650 --> 00:40:51.870 Eric Sarver, Esq.: i've seen business succession planning is.

00:40:52.530 --> 00:41:00.990 Eric Sarver, Esq.: Do you have any potential employment relations that I pull up for article about you know your or your workers correctly classified as he painting or properly because.

00:41:01.320 --> 00:41:14.190 Eric Sarver, Esq.: If you don't do that and then see Hillary lost him or four, five and how can the partner Labor you know, in fact, the effect the shackles of your business, what are the values so she has having lived.

00:41:15.810 --> 00:41:18.090 Eric Sarver, Esq.: Through so system could look at as well.

00:41:19.710 --> 00:41:36.540 Eric Sarver, Esq.: i'm here to push that already here getting to a place if they're looking for the future what's happening 345 years now, and the beautiful thing about focusing on your business now so, what are your numbers numbers, right now, what are your costs, you have clarity around.

00:41:38.010 --> 00:41:48.240 Eric Sarver, Esq.: Your budget, you know with your process and just show how the business, they could shape financial aid, otherwise, so that when you do go to sell it or ask someone to feed you.

00:41:48.930 --> 00:41:57.900 Eric Sarver, Esq.: Whether you are an industry of sale with you stay on as a consultant or as a board member and you didn't know that you might get the maximum value for your business.

00:41:58.410 --> 00:42:11.280 Eric Sarver, Esq.: I suppose the mother must be an increasing topic I imagined for you, with megan, as you mentioned, people are we assessing their retirement to go earlier others, it might have other again maybe tired of sort of the grind.

00:42:12.930 --> 00:42:16.890 Eric Sarver, Esq.: But just wondering what you know if that's accurate, you know you're saying.

00:42:17.640 --> 00:42:18.840 Tricia Taitt, MBA, C.F.O: yeah exactly it.

00:42:20.610 --> 00:42:24.180 Tricia Taitt, MBA, C.F.O: Some people are making making different decisions based on where they are.

00:42:24.870 --> 00:42:30.450 Tricia Taitt, MBA, C.F.O: I mean 2020 has force people to do to do just do that, I mean that's what is forced me to be.

00:42:31.290 --> 00:42:32.850 To have my business.

00:42:33.930 --> 00:42:43.050 Tricia Taitt, MBA, C.F.O: authentically reflect Allah Allah who, I am as a person and as also a professional dancer so.

00:42:43.920 --> 00:42:52.470 Tricia Taitt, MBA, C.F.O: You know you make you make adjustments to suit what I said all that, to say when you're budgeting like planning or forecasting whatever it is.

00:42:53.010 --> 00:42:57.720 Tricia Taitt, MBA, C.F.O: And, and the succession planning, there are additional costs to that.

00:42:59.130 --> 00:43:02.220 Tricia Taitt, MBA, C.F.O: So it's important to have a proper professionals around that.

00:43:07.020 --> 00:43:20.130 Eric Sarver, Esq.: Point yeah that you made it's good to remind people that as well yeah you know it kind of made you the question about you and your company, you know we have several outsource factual CFO is out there.

00:43:21.000 --> 00:43:37.740 Eric Sarver, Esq.: So, for all the existing tonight you've given us great information so far i'm wondering, can you tell us more about maybe what differentiated distinguishes you and the art of money matters your company or service firm from other outsourced fractional CMOs out there.

00:43:39.120 --> 00:43:40.620 Tricia Taitt, MBA, C.F.O: Okay sure I mean.

00:43:40.650 --> 00:43:42.360 Tricia Taitt, MBA, C.F.O: once been a what I think what's.

00:43:42.690 --> 00:43:52.320 Tricia Taitt, MBA, C.F.O: what's the match for and to share and what i'm what i'm realizing as I actually switched a brand i'm switching the movie he assumed name of the company to.

00:43:52.530 --> 00:43:55.080 Tricia Taitt, MBA, C.F.O: spin core because fit mcr.

00:43:55.140 --> 00:43:55.410 He.

00:43:56.760 --> 00:44:00.000 Tricia Taitt, MBA, C.F.O: To to be in alignment with a belief.

00:44:01.380 --> 00:44:06.690 Tricia Taitt, MBA, C.F.O: In the same way that dancers need to strengthen their physical for to be a peak performance.

00:44:07.020 --> 00:44:10.860 Tricia Taitt, MBA, C.F.O: term business owners my strength and physical to be at.

00:44:13.020 --> 00:44:18.090 Tricia Taitt, MBA, C.F.O: And, and the reason why is after interviewing a number of business owners, particularly.

00:44:19.110 --> 00:44:22.050 Tricia Taitt, MBA, C.F.O: women entrepreneurs for majority of.

00:44:24.390 --> 00:44:29.580 Tricia Taitt, MBA, C.F.O: Men and women business owners, but mostly women business owners and when I asked him what is the greatest financial challenge.

00:44:30.060 --> 00:44:30.480 Eric Sarver, Esq.: Because you're.

00:44:30.510 --> 00:44:35.220 Tricia Taitt, MBA, C.F.O: With you know a lot of different things, but what resonates what comes out.

00:44:35.370 --> 00:44:37.290 Eric Sarver, Esq.: most often is that.

00:44:37.320 --> 00:44:45.810 Tricia Taitt, MBA, C.F.O: They want to be able to pay them so they want to be able to have control of their numbers and speak confidently about.

00:44:46.800 --> 00:44:55.710 Tricia Taitt, MBA, C.F.O: Wanting better relationship with their financials they want, they want to ultimately be able to pay themselves so that they can contribute to the household of the tire.

00:44:57.420 --> 00:44:58.920 Tricia Taitt, MBA, C.F.O: comfortably give that to them.

00:44:59.970 --> 00:45:05.280 Tricia Taitt, MBA, C.F.O: And so, as a business as a business evolves, let me say our brand.

00:45:06.540 --> 00:45:06.960 Eric Sarver, Esq.: And my.

00:45:06.990 --> 00:45:22.470 Tricia Taitt, MBA, C.F.O: approach my personal approach, because the goals that I have the finances I want them to be financially empowered I want them to two steps away from this experience, being more confident about the numbers I want them to be able to.

00:45:22.740 --> 00:45:25.830 Tricia Taitt, MBA, C.F.O: themselves what the users, so that they can.

00:45:25.920 --> 00:45:30.900 Tricia Taitt, MBA, C.F.O: choreograph the lives that they want, so I think the differentiator is.

00:45:32.040 --> 00:45:33.600 Tricia Taitt, MBA, C.F.O: it's not just this is, you know.

00:45:33.930 --> 00:45:35.610 Eric Sarver, Esq.: Not just one but.

00:45:35.910 --> 00:45:37.860 Tricia Taitt, MBA, C.F.O: The approach like this kind of.

00:45:38.520 --> 00:45:40.530 Tricia Taitt, MBA, C.F.O: intimate conversation.

00:45:40.590 --> 00:45:44.700 Tricia Taitt, MBA, C.F.O: And I get I get my clients tough love, I know they're CEOs and.

00:45:44.940 --> 00:45:48.300 Tricia Taitt, MBA, C.F.O: Someone in their business 10 2037.

00:45:48.330 --> 00:45:49.830 Eric Sarver, Esq.: years but they came to me.

00:45:49.830 --> 00:45:50.700 Tricia Taitt, MBA, C.F.O: for a reason.

00:45:52.080 --> 00:46:04.320 Tricia Taitt, MBA, C.F.O: They came to me for answers, so I wanna I want to make sure that I give them those answers I give them tough love, but I also ultimately help them reach those goals communicated back to me.

00:46:05.640 --> 00:46:12.600 Eric Sarver, Esq.: Right to the goals of course raving about financial empowerment of the business owner you're going to be able to pin such for.

00:46:13.200 --> 00:46:22.260 Eric Sarver, Esq.: Shooting person in their family and business life, you know independent contractor that personal approach in terms of tough love, if you.

00:46:23.040 --> 00:46:28.710 Eric Sarver, Esq.: were to give tough love you have to have some level of support connection and personal development personal relation.

00:46:29.220 --> 00:46:44.430 Eric Sarver, Esq.: To the person in the veterans receiving right otherwise just have to talk with him so interesting to hear that and the whole going to import the brennan you actually go to bed, you know, to have that again.

00:46:44.460 --> 00:46:45.960 Tricia Taitt, MBA, C.F.O: I gave you I gave you a little sneak.

00:46:45.990 --> 00:46:47.790 Tricia Taitt, MBA, C.F.O: peek before everybody else but.

00:46:49.290 --> 00:46:54.120 Tricia Taitt, MBA, C.F.O: there'll be a new website and all of those things, but for now, if people want to you know.

00:46:54.180 --> 00:46:54.540 Eric Sarver, Esq.: connect.

00:46:54.570 --> 00:46:55.800 Tricia Taitt, MBA, C.F.O: With me and reach out.

00:46:56.460 --> 00:46:58.920 Tricia Taitt, MBA, C.F.O: To us, is our art of money matters.

00:47:00.030 --> 00:47:01.290 Tricia Taitt, MBA, C.F.O: On instagram it's the same.

00:47:01.290 --> 00:47:03.300 Tricia Taitt, MBA, C.F.O: thing art of money matters.

00:47:04.110 --> 00:47:08.370 Tricia Taitt, MBA, C.F.O: And you have my name but everything will transition from there next year.

00:47:10.500 --> 00:47:17.760 Eric Sarver, Esq.: Interesting again, you know question for you, but you know the class of their tour sure way to take it a minute early instead of leaving have.

00:47:18.180 --> 00:47:27.240 Eric Sarver, Esq.: One minute to answer the question so i'll just say, thanks to those of you listening tonight or watching tonight, this is employment on it today you're on talk radio tech nyc.

00:47:27.570 --> 00:47:35.940 Eric Sarver, Esq.: i'm your host erick solder, and planning attorney and my guest tonight is tricia take your money matters team to be thin core and.

00:47:36.600 --> 00:47:50.700 Eric Sarver, Esq.: Our CFO services when we come back we'll talk about some attrition additional step differentiating factors and some final thoughts on this process and we'll wrap things up so stay tuned more good stuff to come over.

00:49:51.780 --> 00:49:55.140 Eric Sarver, Esq.: Welcome back to employment law today i'm your host erick saw her.

00:49:56.160 --> 00:50:06.000 Eric Sarver, Esq.: employment law business law attorney here today with my guest trisha team from the art of money matters seem to be filled in for that.

00:50:07.320 --> 00:50:21.420 Eric Sarver, Esq.: And then talk about the company name changing I think other things that you have to understand that you wrote a book recently and here's the thing about that it tells name in the book, but the theme is.

00:50:22.650 --> 00:50:25.740 Eric Sarver, Esq.: it's it looks interesting premise, so I wanted to share with us about that.

00:50:27.270 --> 00:50:29.010 Tricia Taitt, MBA, C.F.O: yeah absolutely um.

00:50:29.370 --> 00:50:39.360 Tricia Taitt, MBA, C.F.O: So i'm still in the process of writing the book, it is a more in depth details and process that I could have ever imagined.

00:50:39.540 --> 00:50:40.350 Tricia Taitt, MBA, C.F.O: Oh mom.

00:50:40.590 --> 00:50:48.480 Tricia Taitt, MBA, C.F.O: I have four years, so I think since 2006 one is to write a book At first it was like a children's book and then.

00:50:48.810 --> 00:50:52.020 Tricia Taitt, MBA, C.F.O: Another time it had something to do with hurricane sandy which.

00:50:52.920 --> 00:50:54.360 Tricia Taitt, MBA, C.F.O: We live here in New York.

00:50:55.440 --> 00:51:02.550 Tricia Taitt, MBA, C.F.O: And I would collect little snippets of write ups I eventually knew I wanted to write something or financial something.

00:51:03.540 --> 00:51:05.310 Tricia Taitt, MBA, C.F.O: Just like what the heck Am I.

00:51:05.340 --> 00:51:05.970 Tricia Taitt, MBA, C.F.O: to write a book.

00:51:06.060 --> 00:51:07.800 Tricia Taitt, MBA, C.F.O: Like that for celebrities and.

00:51:07.800 --> 00:51:24.840 Tricia Taitt, MBA, C.F.O: People who studied English and creative writing and then a good business colleague and former business consultant was like tricia and doing this program with this writer Community it's connected to a publishing company, we should just pay this money and answer this process.

00:51:25.230 --> 00:51:29.970 Tricia Taitt, MBA, C.F.O: No me doing too much, but.

00:51:30.390 --> 00:51:43.200 Tricia Taitt, MBA, C.F.O: Always always having this goal in the back of my head I started the process in April May of this year of reading and formulating the book into what it currently is.

00:51:44.010 --> 00:51:46.680 Tricia Taitt, MBA, C.F.O: The name of it is dancing with numbers.

00:51:47.100 --> 00:51:47.910 Tricia Taitt, MBA, C.F.O: and

00:51:48.000 --> 00:52:00.840 Tricia Taitt, MBA, C.F.O: The thought process was again thinking about clients thinking about business owners who want to have a better relationship with their numbers who want to be financially they've been in the entrepreneurial journey for a while.

00:52:01.260 --> 00:52:02.310 Tricia Taitt, MBA, C.F.O: And I feel like they.

00:52:02.310 --> 00:52:03.150 Tricia Taitt, MBA, C.F.O: can have.

00:52:03.210 --> 00:52:08.310 Tricia Taitt, MBA, C.F.O: More excitement and have a more harmonious relationship with their numbers, but there were things blocking them.

00:52:08.790 --> 00:52:13.680 Tricia Taitt, MBA, C.F.O: And so I walk people through I use the metaphor of dancing.

00:52:14.130 --> 00:52:14.370 Eric Sarver, Esq.: Like.

00:52:14.550 --> 00:52:17.610 Tricia Taitt, MBA, C.F.O: When you hear your song on the radio and that feeling.

00:52:17.970 --> 00:52:21.090 Tricia Taitt, MBA, C.F.O: That comes in that joy I want people to have that feeling.

00:52:21.360 --> 00:52:21.990 Tricia Taitt, MBA, C.F.O: But I know when I.

00:52:22.290 --> 00:52:25.440 Tricia Taitt, MBA, C.F.O: Get on the dance floor there's a little bit of trepidation you're.

00:52:26.790 --> 00:52:27.990 Tricia Taitt, MBA, C.F.O: Looking at you, you might trip.

00:52:27.990 --> 00:52:31.500 Tricia Taitt, MBA, C.F.O: With your feet and then there's a moment where you kind of.

00:52:31.590 --> 00:52:34.680 Tricia Taitt, MBA, C.F.O: get into the film and you're open to listening.

00:52:34.710 --> 00:52:36.660 Tricia Taitt, MBA, C.F.O: to dance instructors or you have.

00:52:36.750 --> 00:52:39.360 Tricia Taitt, MBA, C.F.O: dance partners, I call them financial dance partners but.

00:52:39.360 --> 00:52:42.450 Tricia Taitt, MBA, C.F.O: Like outsourcing, so I leverage.

00:52:42.480 --> 00:52:44.250 Tricia Taitt, MBA, C.F.O: The metaphor of dance.

00:52:44.670 --> 00:52:46.530 Tricia Taitt, MBA, C.F.O: to walk people through the six.

00:52:46.530 --> 00:52:47.160 Eric Sarver, Esq.: steps to.

00:52:47.190 --> 00:52:48.600 Tricia Taitt, MBA, C.F.O: dance with their numbers.

00:52:49.080 --> 00:53:00.420 Tricia Taitt, MBA, C.F.O: strengthen their financial poor and then get to peak performance like that's the flow of the book and and there's some like financial money mindset stuff.

00:53:00.480 --> 00:53:01.530 Tricia Taitt, MBA, C.F.O: In there too, because.

00:53:01.560 --> 00:53:04.830 Tricia Taitt, MBA, C.F.O: A lot of the issues and shuffles that business owners.

00:53:04.830 --> 00:53:05.280 Eric Sarver, Esq.: Have.

00:53:05.640 --> 00:53:06.870 Tricia Taitt, MBA, C.F.O: With managing numbers.

00:53:07.290 --> 00:53:11.940 Tricia Taitt, MBA, C.F.O: Actually stems from childhood it had nothing to do with money, some of its.

00:53:11.970 --> 00:53:13.380 Tricia Taitt, MBA, C.F.O: stems from just having.

00:53:14.400 --> 00:53:15.510 Tricia Taitt, MBA, C.F.O: The scripts.

00:53:15.570 --> 00:53:17.310 Eric Sarver, Esq.: The money scripts and mindset.

00:53:17.640 --> 00:53:20.250 Tricia Taitt, MBA, C.F.O: From from childhood that like.

00:53:20.310 --> 00:53:23.970 Tricia Taitt, MBA, C.F.O: be maintained into being an entrepreneur.

00:53:24.240 --> 00:53:27.390 Tricia Taitt, MBA, C.F.O: And then entrepreneurship forces them to deal.

00:53:27.750 --> 00:53:29.400 Tricia Taitt, MBA, C.F.O: With those yes.

00:53:29.580 --> 00:53:30.300 Eric Sarver, Esq.: Money mindset.

00:53:30.750 --> 00:53:31.890 Tricia Taitt, MBA, C.F.O: So I talked about all of that.

00:53:32.670 --> 00:53:38.910 Tricia Taitt, MBA, C.F.O: In the book and right now right now we're we're in presale we're generating money to.

00:53:38.910 --> 00:53:39.300 Eric Sarver, Esq.: bring it.

00:53:39.450 --> 00:53:41.160 Tricia Taitt, MBA, C.F.O: To the finish line and publishing.

00:53:41.250 --> 00:53:41.550 Eric Sarver, Esq.: So.

00:53:41.880 --> 00:53:47.670 Tricia Taitt, MBA, C.F.O: You know people go on on my on my instagram at art of money matters, they can.

00:53:47.940 --> 00:53:50.730 Tricia Taitt, MBA, C.F.O: Pre order with the link in the bio.

00:53:50.880 --> 00:53:51.090 Tricia Taitt, MBA, C.F.O: In.

00:53:51.720 --> 00:53:52.290 Their support.

00:53:53.850 --> 00:54:00.240 Eric Sarver, Esq.: Wonderful trisha you know I think it's a great metaphor dancing with the numbers and stuff and, as you mentioned, you know different dance partners in depth.

00:54:00.840 --> 00:54:10.170 Eric Sarver, Esq.: So you've got it thanks for thanks for your CPA and draft or CFO is such as yourself your business on formula it's funny it's like you get to you know move with each one.

00:54:10.560 --> 00:54:16.560 Eric Sarver, Esq.: And there's a bit of a movement right there's a rhythm to it is a fluidity you know with it with it it's like a few too rigid.

00:54:16.890 --> 00:54:30.630 Eric Sarver, Esq.: Instead of the day before you kind of have that in a blue I see people do kind of like you know punching a little bit back and forth it gets you ready to lose the entire look a little loopy so yeah, how do you get baby that.

00:54:31.950 --> 00:54:39.900 Eric Sarver, Esq.: relationship to your money not to lose, and then I just prepping under intellect, so I think there's a lot done with that metaphor.

00:54:41.070 --> 00:54:46.560 Eric Sarver, Esq.: And just also that the talk about the joy, you know and first some trepidation.

00:54:47.400 --> 00:54:53.580 Eric Sarver, Esq.: I think may have had experiences like you said you know the party or wedding maybe people on again for like you out there.

00:54:53.940 --> 00:55:01.290 Eric Sarver, Esq.: And it will nervous, the first and then, if you kind of hit a song great love, oh no this one sector dancing to.

00:55:01.950 --> 00:55:13.980 Eric Sarver, Esq.: You with your partner name is that an either or Whatever the case may be, again, you just go hindrances and those are the market, we also can be you know going back in time, you know I think if you're talking today.

00:55:52.290 --> 00:55:55.830 Tricia Taitt, MBA, C.F.O: we're having some technical issues, but we will be right back.

00:56:09.330 --> 00:56:13.620 Eric Sarver, Esq.: i'm sorry about that sorry it's my audience like that's the first time that happened happened once.

00:56:13.980 --> 00:56:14.880 Eric Sarver, Esq.: In February.

00:56:15.270 --> 00:56:21.120 Eric Sarver, Esq.: i'm not sure, the last thing you heard is that a great metaphor about dancing did anybody come out because.

00:56:21.120 --> 00:56:22.410 Eric Sarver, Esq.: I thought you were frozen.

00:56:25.290 --> 00:56:27.570 Tricia Taitt, MBA, C.F.O: frozen and audience so.

00:56:29.490 --> 00:56:30.390 Eric Sarver, Esq.: Thank you trisha.

00:56:32.190 --> 00:56:35.040 Eric Sarver, Esq.: comments about metaphor that talked about my son is two years old.

00:56:37.020 --> 00:56:37.440 Eric Sarver, Esq.: Oh.

00:56:40.020 --> 00:56:40.710 Eric Sarver, Esq.: yeah just.

00:56:41.610 --> 00:56:44.550 Eric Sarver, Esq.: To recap my again my apologies, I thank you for keeping our audience.

00:56:45.180 --> 00:56:48.480 Eric Sarver, Esq.: Your body, we have serious quickly say that metaphors are.

00:56:48.930 --> 00:56:50.910 Eric Sarver, Esq.: Well, please think for so many reasons that you have people.

00:56:51.510 --> 00:57:02.700 Eric Sarver, Esq.: Do you dance, for your tango with there's a movement is a fully in a rhythm to that think there's some trepidation that people have think when it comes to like dancing but once they find their moves a song they love it they out there.

00:57:03.930 --> 00:57:13.530 Eric Sarver, Esq.: So that's what I was starting to say I was so impressed with the metaphor, that you made, and I think the comments but I bought, I suppose, those tech glitches happen every rarely but.

00:57:14.670 --> 00:57:16.440 Tricia Taitt, MBA, C.F.O: You know that's what that's what happened.

00:57:16.830 --> 00:57:17.250 Eric Sarver, Esq.: that's right.

00:57:19.290 --> 00:57:21.990 Eric Sarver, Esq.: Before we roll and you roll with it, yes.

00:57:22.470 --> 00:57:32.490 Eric Sarver, Esq.: Well, listen trisha we are two minutes, I want to give you a minute to wrap up just any final things you want to share and then i'll take us out and i'll thank everyone is a but anything else you wanted to share for tonight.

00:57:32.820 --> 00:57:37.800 Tricia Taitt, MBA, C.F.O: Well, I just wanted to thank you Eric for having this wonderful platform.

00:57:39.150 --> 00:57:46.560 Tricia Taitt, MBA, C.F.O: I just want to say to all the entrepreneurs out there you are doing your damnedest and the best that you can allow yourself two weeks.

00:57:47.370 --> 00:57:51.420 Tricia Taitt, MBA, C.F.O: or two weeks, your your your administrative duties make.

00:57:51.630 --> 00:57:55.200 Eric Sarver, Esq.: sure you do your own books and make sure you do your own budgeting.

00:57:55.710 --> 00:57:58.860 Tricia Taitt, MBA, C.F.O: Well, we work with the outsourced CFO to do the budgeting and planning.

00:57:59.250 --> 00:57:59.910 Eric Sarver, Esq.: that's great.

00:57:59.940 --> 00:58:03.450 Tricia Taitt, MBA, C.F.O: And to stay in touch with me i'm on linkedin at tricia.

00:58:03.510 --> 00:58:16.530 Tricia Taitt, MBA, C.F.O: m, as in Mary tapes or instagram at our money art of money matters and the website is art of money matters calm and when you go to the instagram page.

00:58:17.130 --> 00:58:30.690 Tricia Taitt, MBA, C.F.O: You can pre order the book by following the link in the bio so I appreciate the platform and happy holidays hanukkah Monza three kings Merry Christmas all of the things.

00:58:31.890 --> 00:58:39.900 Eric Sarver, Esq.: Wonderful so you know, usually wrap up in the air, they Thank you I wish them all good weekend upcoming holiday season i've been doing lately and uses set all.

00:58:40.260 --> 00:58:48.180 Eric Sarver, Esq.: The nutshell so i'll just say you're listening to and watching employment law today i'm your host erick Sabra and employment law and business law attorney.

00:58:48.720 --> 00:58:54.450 Eric Sarver, Esq.: She said if you're out there listening keep at it keep going, and you can push through even.

00:58:54.960 --> 00:59:02.490 Eric Sarver, Esq.: tech problems in your life so that everything's just keep consistency, I think, is the key step or the key a guide so.

00:59:02.910 --> 00:59:09.240 Eric Sarver, Esq.: Wishing university wonderful holiday season as well, thank you once again, everyone that's the art of money matters and dancing with numbers.

00:59:09.570 --> 00:59:22.380 Eric Sarver, Esq.: i'm your host erick sorry, you can catch me Tuesdays at 5pm live here on talk radio to nyc their Facebook page or their website talk video to nyc.com Thank you so much, have a wonderful night.

00:59:23.940 --> 00:59:25.260 Tricia Taitt, MBA, C.F.O: Eric you're an asset.

00:59:26.100 --> 00:59:26.640 Eric Sarver, Esq.: Thank you.

00:59:44.610 --> 00:59:46.020 Education and how.

download this episode of https://tabmaron.s3.amazonaws.com/talkinga/recordedshows/ELT/20211214-ELT-Financial_Factors_For_The_New_Workplace.mp3

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