Summary

In this episode of Harmonious Wealth, Iyanna Vaughn discusses the onboarding process for financial support services, detailing the steps clients will take in the first six weeks. She emphasizes the importance of a streamlined approach to financial management, including the profit planning intensive and cash flow strategies. The conversation highlights how clients can transform their financial experience and gain insights into their business's financial health.

Takeaways

• You don't need to manage finances alone.
• The onboarding process is streamlined and supportive.
• Profit planning is a holistic approach.
• Understanding cash flow is crucial for business health.
• The cash flow compass provides actionable insights.
• Clients receive a personalized treatment plan.
• The first financial report is delivered by week six.
• Transformational support is available for business owners.
• The CEO salary calculator helps determine personal pay.
• Regular communication through Slack enhances support.

Chapters

00:00 Introduction to Financial Support

00:47 Onboarding Process Overview

02:47 Kickoff Call and Initial Steps

04:02 Profit Planning Intensive

05:45 Cash Flow Compass Explained

09:04 Finalizing Bookkeeping and Reporting

10:37 Transformational Experience with Financial Strategy

Past Episodes Mentioned: The Overflow Method Series

• E37: You Don’t Need More Revenue—You Need a Rhythm (And a Profit Plan)
• E36: Profit Leak Detection: Stop the Financial Drains
• E35: Financial Storytelling: Making Sense of Your Numbers
• E34: Vision Casting: Building With the End in Mind

MENTIONED IN THIS EPISODE

• Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 
• Get The CEO Salary Calculator - lovelyfinancials.com/ceo 
• Get the Cash Flow Planner - lovelyfinancials.com/planner

Summary

In this episode, Iyanna Vaughn interviews Jillian Smith-Austin, founder of One Touch Events, discussing her journey in event planning and financial management. Jillian shares her early experiences with money, the importance of financial education, and how she transitioned from personal finance to managing her business finances. They explore the significance of cash flow, profitability, and the role of financial strategy in business growth. Jillian emphasizes the need for collaboration and transparency in financial discussions, and they conclude with insights on achieving harmonious wealth in both personal and professional realms.

Takeaways

• Jillian's early experiences with money shaped her financial mindset.
• The importance of saving and tithing was instilled in Jillian from a young age.
• Transitioning from personal to business finances can be challenging but necessary.
• Understanding cash flow is crucial for service-based businesses.
• Automating financial processes can lead to a more stable business environment.
• CEO salary should be consistent and reflective of business health.
• Financial strategy is essential for scaling a business effectively.
• Collaboration and transparency in financial discussions enhance business growth.
• Breaking industry norms can lead to greater confidence in pricing.
• Harmonious wealth encompasses both financial success and personal fulfillment.

📚MENTIONED IN THIS EPISODE

• Get The CEO Salary Calculator - lovelyfinancials.com/ceo 
• Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 
• Get the Cash Flow Planner - lovelyfinancials.com/planner

In this episode of Harmonious Wealth, Iyanna Vaughn dives deep into the 4th phase of her signature framework, The Overflow Method–Wealth Flow Design. The art of designing wealth rather than just chasing revenue. Discover the importance of a profit plan and how to create a system that combines stewardship with strategy. Iyanna also shares insights and fully shares her profit planning and explains the four cash flow quadrants inspired by Robert Kiyosaki's book. Learn how to leverage your business to build wealth through increased profits and strategic planning.

Key Takeaways:

• Revenue growth doesn't equate to wealth growth. 
• The importance of a profit plan and wealth flow design. 
• Understanding the four cash flow quadrants. 
• How to create a CEO salary calculator and profit plan.

Action Items:

• Watch the YouTube Version so you can see the screenshare https://youtu.be/u0fvozTjFu0 
• Get The CEO Salary Calculator - lovelyfinancials.com/ceo 
• Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 
• Get the Cash Flow Planner - lovelyfinancials.com/planner 

Summary

In this episode, Iyanna Vaughn goes over the 3rd phase of her signature framework, The Overflow Method. She discusses the critical issue of profit leaks in businesses, particularly focusing on service-based businesses. She introduces the concept of the Keep Half Diagnostic, a tool designed to help business owners identify and address hidden financial leaks that can significantly impact profitability. The discussion emphasizes the importance of measuring financial health, understanding true profit margins, and creating a solid financial foundation through effective bookkeeping and strategic planning. Vaughn encourages business owners to take control of their finances to ensure sustainable growth and profitability.

Takeaways

• It's not the big purchases that sink your profit.
• Profit leaks often hide in trusted areas like subscriptions.
• Regularly review subscriptions to ensure value.
• Paying contractors without clear ROI can disrupt profits.
• Many think they're profitable but are just not broke.
• The Keep Half Diagnostic helps assess true profitability.
• Understanding your financial story is crucial for growth.
• You can't fix what you don't measure in finances.
• Creating a living document for financial strategy is essential.
• Profit leak detection is about stewardship, not shame.

Chapters

00:00 Intro

00:16 Identifying Profit Leaks

02:15 Understanding the Key Path Diagnostic

04:28 Measuring and Managing Profitability

06:21 Cleaning Up Financial Records

07:12 Stewardship and Financial Strategy

08:31 New Chapter

📚MENTIONED IN THIS EPISODE

• Get The CEO Salary Calculator - lovelyfinancials.com/ceo 
• Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 
• Get the Cash Flow Planner - lovelyfinancials.com/planner 

Summary

In this episode, Iyanna Vaughn goes into the second phase of her signature framework, The Overflow Method. She discusses the concept of financial storytelling and its importance for entrepreneurs, particularly women. She emphasizes that financial data should not be viewed merely as numbers but as a narrative that can guide business decisions. The discussion covers the significance of understanding trends, the value of personalized financial reviews, and the necessity of partnership in financial strategy to foster clarity and confidence in business operations.

Takeaways

• You're not behind, you're just reading your numbers.
• Your numbers are telling you a story.
• P&L shows what happened and what's working.
• Financial storytelling helps turn chaos into clarity.
• Trust with your future self.
• We give you a personalized video walkthrough.
• It's not about perfection, it's about partnership.
• Learning to lead your numbers with clarity.
• We help you not only with bookkeeping.
• Let me know if you feel chaotic or don't trust yourself.

Chapters

00:00 Understanding Financial Storytelling

02:35 The Importance of Trends in Business

04:37 Personalized Financial Reviews and Clarity

07:13 The Role of Partnership in Financial Strategy

📚MENTIONED IN THIS EPISODE

• Get The CEO Salary Calculator - lovelyfinancials.com/ceo 
• Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 
• Get the Cash Flow Planner - lovelyfinancials.com/planner

In this conversation, Iyanna Vaughn discusses the first part of her signature framework, The Overflow Method. She talks about the importance of casting a vision for one's business and finances that aligns with personal values and goals. She emphasizes the need for entrepreneurs to define their own success rather than chasing societal expectations. The discussion covers the significance of legacy planning, the process of vision casting, and how aligning business goals with personal vision can lead to financial success and generational wealth.

Takeaways

• If you don't know what you're building towards, your finances will always be a moving target.
• Most entrepreneurs set financial goals based on what they think they should be doing.
• Casting vision anchors your financial goals to your personal values.
• What do you love most about the life that you live?
• Vision casting allows you to get yourself out of the weeds of everyday business.
• When you cast a vision, your numbers won't feel as chaotic.
• You can't afford not to have a vision; it prevents survival mode.
• Vision casting helps in reverse engineering your financial plan.
• Your business must pay you to sustain your lifestyle.
• When your vision is clear, the strategy becomes super.

Get The CEO Salary Calculator - lovelyfinancials.com/ceo 

Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 

Get the Cash Flow Planner - lovelyfinancials.com/planner

Connect With Iyanna:

Instagram: https://www.instagram.com/lovelyfinancials

Email: https://lovelyfinancials.com/wealth

Website: https://lovelyfinancials.com

In this episode, Iyanna Vaughn introduces her signature framework, The Overflow Method, a financial strategy designed to help entrepreneurs, particularly women, achieve financial clarity and build wealth. The method consists of four key parts: vision and legacy planning, understanding financials, profit leak detection, and wealth flow management. Each part is aimed at empowering clients to make informed financial decisions, align their business goals with their long-term wealth aspirations, and ultimately create a sustainable financial future without sacrificing peace of mind.

Takeaways

• Mastering money is about having the right system.
• The Overflow Method helps clients create real margin.
• Vision planning is crucial for long-term success.
• Understanding financials is key to making informed decisions.
• Profit leak detection identifies what drains your resources.
• Wealth flow management ensures cash flow stability.
• Aligning business goals with personal wealth is essential.
• Financial clarity leads to confident decision-making.
• Automation can significantly improve cash flow.
• Building margin allows for peace of mind in finances.

Get The CEO Salary Calculator - lovelyfinancials.com/ceo 

Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 

Get the Cash Flow Planner - lovelyfinancials.com/planner

Connect With Iyanna:

Instagram: https://www.instagram.com/lovelyfinancials

Email: https://lovelyfinancials.com/wealth

Website: https://lovelyfinancials.com

In this episode of Harmonious Wealth, Iyanna Vaughn discusses the importance of financial clarity and stewardship for women entrepreneurs. She emphasizes that titles in finance do not equate to wealth-building; rather, understanding and managing finances effectively is crucial. The conversation explores the roles of bookkeepers, accountants, and money coaches, highlighting the need for a cohesive financial strategy that integrates compliance and leadership. Vaughn introduces tools like the CEO salary calculator to help entrepreneurs pay themselves adequately and make informed financial decisions. The episode concludes with a call to action for listeners to seek clarity in their financial management.

Takeaways

• Titles don't build wealth, clarity does.
• Financial stewardship is essential for building wealth.
• Understanding financial roles helps in effective management.
• A cohesive financial strategy is crucial for success.
• You need a translator for your finances, not just a title.
• Compliance and strategy must work together for effective financial management.
• Regular financial check-ins can prevent surprises during tax season.
• Understanding your numbers leads to better decision-making.
• Tools like the CEO salary calculator can aid in financial clarity.
• Transformation in financial management is more important than titles.

Get The CEO Salary Calculator - lovelyfinancials.com/ceo 

Learn more about The Financial Strategy Experience - lovelyfinancials.com/strategy 

Get the Cash Flow Planner - lovelyfinancials.com/planner

Chapters

00:00 Introduction to Financial Clarity

01:00 The Importance of Financial Stewardship

02:42 Understanding Financial Roles and Titles

06:49 The Need for Financial Translation

09:32 Bridging Compliance and Strategy

12:37 Transforming Financial Management

In this episode, Iyanna Vaughn discusses the importance of structuring business finances around the Keep Half Principle, which emphasizes maintaining a 50% profit margin before paying oneself. She explains how focusing on profit rather than revenue can lead to sustainable business growth and financial stability. The conversation covers practical strategies for managing expenses, setting revenue goals, and making intentional financial decisions to ensure that entrepreneurs can pay themselves adequately while also investing in their business.

Takeaways

• Your CEO salary is the cornerstone of your financial strategy.
• Focus on profit first, not revenue.
• The Keep Half Principle allows you to pay yourself without struggle.
• Understanding your operating costs is crucial for financial health.
• You need to keep track of your cash flow to sustain growth.
• Revenue should be structured to ensure a 50% profit margin before paying yourself.
• Intentional financial strategies lead to better business decisions.
• Analyze your business regularly to identify areas for improvement.
• Scaling may require downsizing at times for long-term growth.
• Making intentional decisions will help you maintain profit margins.

💰 Get the Harmonious Cash Flow Planner: lovelyfinancials.com/planner

Connect With Iyanna:

Instagram: https://www.instagram.com/lovelyfinancials

Email: https://lovelyfinancials.com/wealth

Website: https://lovelyfinancials.com

In this episode of Harmonious Wealth, Iyanna Vaughn discusses the importance of setting meaningful revenue goals that align with a business's actual needs. She emphasizes that revenue goals should be at least double the CEO salary to account for taxes, expenses, and growth investments. Iyanna also highlights the necessity of pricing services for profit rather than just revenue, and the significance of understanding conversion rates to create predictable income. The episode encourages entrepreneurs to stop guessing and start strategizing for sustainable growth.

Takeaways

• Your revenue goal should be at least double your CEO salary.
• Random revenue goals can lead to financial instability.
• Pricing should be based on profit, not just market rates.
• Understanding your expenses is crucial for setting revenue goals.
• Predictability in income is more important than just increasing revenue.
• Track your conversion rates to ensure consistent income.
• Seasonal dips in revenue should be accounted for in planning.
• Retaining clients is as important as acquiring new ones.
• A holistic approach to financial strategy is essential.
• Stop comparing your pricing to others and value your expertise.

💰 Get the Harmonious Cash Flow Planner: lovelyfinancials.com/planner

Connect With Iyanna:

Instagram: https://www.instagram.com/lovelyfinancials

Email: https://lovelyfinancials.com/wealth

Website: https://lovelyfinancials.com