It's Not About The Money

Should Steve outsource his lawn maintenance? What did Tyler think of hiring house cleaners? And why is that so different from going to a car wash? Today, we talk about outsourcing in business and in life, and the tradeoffs of time and money it entails. 

• (03:44) - Outsourcing in personal life

• Tax Strategy Digest episode, "Marketing The Right Way": https://www.linkedin.com/pulse/marketing-right-way-paul-ranieri/ 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

What characteristics make a good side gig? How do you strike a balance between your day job and your side project? How much is enough? 

• (00:00) - Japanese curry

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Today we review that classic personal finance book, Dave Ramsey's Total Money Makeover. Credit cards, sustainable journeys, Murphy repellant, budgeting, and behavior.

https://www.goodreads.com/book/show/78427.The_Total_Money_Makeover 

• (00:00) - Credit cards

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Jeremy Wells, EA, CPA is the owner of JWellsCFO and recently launched a new business called The HVAC CPA focused on the particular needs of HVAC business owners. In this episode, Jeremy talks about his journey into accounting, how he selected this niche, and how he becomes the trusted advisor his clients need. 

Jeremy Wells, EA, CPA: 

• https://twitter.com/JWellsCFO 
• https://www.jwellscfo.com/ 
• https://thehvaccpa.com/ 
• https://podcasters.spotify.com/pod/show/cpaadvisoryshow 

• (01:11) - Jeremy's path into accounting

• David C. Baker, the "expert for experts": https://www.linkedin.com/in/dcb/ 
• The CPA Advisory Show, episode "Our Top Books to Learn and Deliver Advisory Services": https://podcasts.apple.com/us/podcast/our-top-books-to-learn-and-deliver-advisory-services/id1627272813?i=1000570577451 
• Building a Second Brain, by Tiago Forte: https://www.goodreads.com/book/show/59616977-building-a-second-brain 
• Time's Up!: The Subscription Business Model for Professional Firms, by Paul Dunn and Ronald J. Baker: https://www.goodreads.com/book/show/63352831-time-s-up 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Should you find a niche in your business? When is it too early? How should you figure out the "right" niche? And will Tyler change his mind about it? 

• (00:00) - Recovering grammar nerd

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Do the best things in life come from planning or from serendipity? Tyler and Steve explore this question and give some ideas about how to welcome more serendipity into your life. 

• (00:00) - Fitness

• Jason Daily: How To Become The Luckiest Accountant https://share.transistor.fm/s/2b8e607a 
• Video from Jason with more actionable advice, which I didn't discover until after we recorded: 4 Ways To Become a Luckier Accountant https://www.youtube.com/watch?v=GZeE3qpsteE 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Tyler mentions it often, and it's high time we had a proper discussion about it. The book is "The Prosperous Coach" by Steve Chandler and Rich Litvin. From getting better at selling to working with extraordinary clients, there's something in this book for every business owner, whether or not you consider yourself a coach per se. 

• (00:00) - Gardening

• The Prosperous Coach: https://www.goodreads.com/book/show/18934115-the-prosperous-coach 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

What are some good tools if you want to get started keeping the books of your business? 

Steve and Tyler discuss YNAB and QuickBooks: their strengths and weaknesses, their similarities and differences, and ultimately which one you might want to choose for your business. 

• (00:00) - iOS automations

Links:

• Tyler's thorough review of YNAB: https://www.tylersmith.io/blog/ynab-vs-everydollar 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

What is bookkeeping? Why do you need it as a small business owner? How do you get started? 

In this episode, Steve and Tyler dive into these questions and give you practical tips, whether you're just starting out, you are doing the books yourself, or you're ready to hire a bookkeeper. 

• 00:00 Cashflow problems as a factor in business failure 
• 01:35 What is bookkeeping? 
• 07:31 How do you start keeping the books for your business? 
• 11:09 Okay, you have a separate business account. Now what? 
• 14:41 Common bookkeeping mistakes 
• 20:02 What are the benefits of good bookkeeping? 

Links:

• "What to do when you can't afford a bookkeeper" from "By the Books" podcast: https://www.youtube.com/watch?v=Sdv0qO4kUVQ 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/ 

Once you've found prospective clients, how do you get them to decide to hire you? 

On this episode, Tyler and Steve discuss two sales techniques and what works and doesn't work about each of them for their particular businesses. 

• 00:00 An embarrassing sales call 
• 02:15 The CLOSER method 
• 09:20 Aspects of the CLOSER method that resonate with Steve and Tyler 
• 13:52 Following up with a prospect after the call 
• 16:51 "Send a gift and a note" 
• 22:18 Tyler tries a CLOSER script 
• 23:26 The "Creating Clients" approach 
• 34:25 Steve gets nervous talking about pricing 
• 40:23 What to do if a client is driving the bus 

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Steve Nay: 

• https://daybreaktax.com/ 
• https://www.linkedin.com/in/nsteven/ 

Tyler Smith: 

• https://www.tylersmith.io/ 
• https://www.linkedin.com/in/tylersmith-io/