Melissa Houston is a CPA and Financial strategist for CEO’s. Melissa helps successful business owners increase their profit margins so they can keep more money in their pocket and increase their net worth! Melissa is a columnist at Forbes.com and the host of The Business Society Podcast
Melissa started her journey as a social worker and worked in that sector for five years and realized that long-term it may not be the best fit for her. She then went back to school and chose to account as it was the “responsible, reliable choice” but then realized that something was missing and that was her interaction with people! It was at that time that she decided to go out on her own and combine her social working skills with her in-depth knowledge of money! For Melissa, it’s wonderful to be able to help women entrepreneurs in every aspect of their business to ensure that they are setting their business up for financial success!
There was a period of about a decade where Melissa suppressed her feelings of wanting to go into business for herself. Suppressing and not dealing with her feelings meant they came out in other ways and self-sabotage ensued. She ended up being in a situation where she was spending money recklessly to make herself feel better about what was lacking in her life. She continues to share this season with us and the impact that it had on herself and her marriage. At that point she stopped and took a look at herself and that she was not being true to herself. Melissa learned a lot about herself during this experience which helps her assist other women in a non-judgemental approach. She’s been there and done that! Messing up and feeling shame doesn’t define who you are, it’s just part of the experience! Melissa was in her late forties when she made this pivot in her career so it’s never too late!
In our conversation we dive into, How do I even know if I need a money coach? A lot of that surrounds knowing if your business is profitable or not. So often business owners will only evaluate their business on how much money they have coming in the door. So if you don’t know if you are profitable or if you don’t have a financial plan for your business moving forward then you are a business without a direction.
The purpose of being in business is to make a profit and if you are not operating at a profit eventually you will go bankrupt. Sadly 82% of businesses fail due to being financially mismanaged. If you can understand how to manage your finances you can eliminate so much of that problem!
Let’s say you are ready to hire a financial business coach! You may be wondering what it is you need to think about? How do you know if you are picking the right team member? We dive into all those things that you will want to consider moving forward.
Melissa also shares some of the limiting beliefs she hears from her clients and how your mindset around money and your business is so important! This is a big part of her offering to be a financial expert and coach. We dive into discussing some of these beliefs and new ways of looking at yourself and your business!
We discuss so many other topics as it relates to running a business! There are lots of valuable nuggets in this podcast! Melissa also shares advice on how she works with an entrepreneur who has been in business but never paid herself! She reminds the listeners that what you are doing is not a hobby and that you need to have in your budget to pay yourself! Melissa also shares the number one mistake that women entrepreneurs make and that is not understanding your numbers.
What is the secret equation to running a successful business? Bringing in those sales and knowing how to manage your money!
Melissa offers both 1:1 Coaching and her Confident Cash Method on her website. The Confident Cash Method is a five-step framework that she takes her clients through. This process gives you a high level of understanding of your business so you can make smart and informed decisions that are going to make your business profitable.