HVAC FINANCIAL FREEDOM PODCAST

How to Increase Profits In Your HVAC Business Using Profit First with Debra Angilletta

About this Episode

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Welcoming Debra Angilletta to the HVAC Financial Freedom podcast!

Debra is the CEO & Founder of Angilletta & Associates, a former Wall Street Trader, and is certified in the advanced level implementation of the Amazon Best Seller – “Profit First” from NY Times best-selling author Mike Michalowicz.

In this podcast, Debra taught us how the Profit First methodology can help you retain more profits in your HVAC business, and you’ll also learn…

0:19 Introducing Debra Angilletta

2:11 Debra’s Background And How She Got Into the Finance Industry

4:18 Debra’s Working Experience on Wall Street

6:38 What Inspired Debra to Take a Leap to Entrepreneurship

8:16 What is the “Profit First” Method and How It Can Boost Your Business’s Profits

10:07 “Profit First” is Better For Entrepreneurs Than Traditional Profit Formula

12:07 Profit First Concept Made Easy: Set Small Plates For Your Business

17:05 Implementing the “Profit First” Formula Creates Steady and Sustainable Income in Your Business

20:37 Bridging The Gap: Profit First & GAAP Accounting Principles

23:33 How to Start Using the Profit First System – Follow These 3 Easy Steps!

24:23 About the Book: “Profit First” by Mike Michalowicz (A Must-Read!)

25:02 What Does Financial Freedom Mean to Debra and Ways to Achieve It

28:00 Don’t Be Afraid To Take The Leap For Financial Freedom

32:15 How to Network and Invest Your Way to Financial Freedom

35:33 FREEBIE! Get Your Copy of “5 Secrets to Success Hiding Inside Your Financials” E-Book

37:26 Connect with Debra

So sit back, listen in, and enjoy this conversation!

📢 Connect with us!

👉 Full episode can be found here: https://polianna.net/how-to-increase-profits-in-your-hvac-business-using-profit-first/

👉 Join our FB Group: https://www.facebook.com/groups/hvacfinancialfreedom/

📢 Connect with Debra!

🌐 If you want to learn more or get started with the Profit First method, email her at [email protected]

🎁 To get your FREE E-Book copy, make sure to head here: https://nextlevelceo.biz/

#businessowner #entrepreneurlife #home #homerepair #heatwaves #ac #homeservices #homeservicesbusiness #hvac #financialfreedom #hvacpodcast #profitfirst #profitfirst #profitfirstmethod #profitfirstformula #profitfirstsystem #mikemichalowicz

Sponsored by: Polianna.net

Audio Transcript

Welcome to the H VAC Financial freedom podcast, a show where we talk about business ownership and financial freedom by sharing stories and advice of experts who can help you get there. Now. Your host john victoria hello and Good Morning H. Vac Financial freedom podcast. We are coming at you today with another podcast episode and today I'm very excited because we're gonna be speaking with someone that I've worked with personally myself Miss Deborah and Violetta and we have implemented profit first together over I believe it was over a year.

And so as a quick introduction, Miss Deborah Angelita is the Ceo and founder of Angela and Associates and they support professional services companies and so she has a background of 20 years first on Wall Street, you know, as a, as a Wall Street trader analyzing company financials and from that she started her own consultancy and she knows exactly what works in terms of wrangling cash flow, making, making confident business decisions and creating a profitable business and her most recent accomplishment. And um I think I was included as part of this group was the businesses she supports not only survived the recent economic crisis but thrived and this was during the pandemic and so we have a very fun conversation today, a lot to cover.

Um but first, you know, I want to say how you doing, Hey john so glad to be here with you, this is gonna be so much fun today. So thanks so much for asking me on of course and I'm really excited for everyone who has not heard about profit first, but also for the people who have implemented it. I believe that Deborah provides a level of detail and insight that most other folks won't be able to provide just, you know, reading the book or even actual consultants because I believe you're a coach to other profit first uh coaches as well, right?

Yeah. To some of them, absolutely. Just to do a little bit of a deeper dive on profit first. But the book itself holds up and all the concepts in there are just fantastic. That'll get you by. But if you want to go to a deeper level, Yes, absolutely, you can really get things dialed in on a high level. I love that. And before we happen to profit first. Now I want to get, you know, double click on your background and um just get your origin story. So when you first started um now what first got you into finances because there's this entire world of things you could possibly do, you know, why did you pick company financials?

That's the place you wanted to plant your flag. Yeah, well it's really funny. It probably goes all the way back to when I was a teenager, I just wanted to buy nice clothes. So I was always interested in making money because I was going to be the one responsible for buying my own clothes and you know, my parents provided just fine, but I wanted to go to the next level have nice shoes and everything else. So listen, I liked money at a very, very young age and I was lucky enough in my little hustle in my teenage years, I used to babysit and I went up babysitting for an executive at a bank and taking a job at a bank and it just really went on from there.

It just finance was always so interesting to me and some of the things that you could do just on a creative basis just to make money, make money work for you, make money work for others. And I just always saw the joy that it would bring to people just to be able to help them level up in this area because listen, money is a very, very emotional topic and it's it's part of marriage is it's part of businesses, it's part of business partners and it's that one thing that can get in the way of just you having a really, really great life and even a prosperous life and also the ability to give back in your life.

So you know, money touches everything. So it was really obvious to me of what I wanted to go forward and do was work in finance. I love that. And and yeah, there's definitely a number of topics I want to discuss later because you're so right, you know, money touches all areas of our life and I'm also a big believer that it's it's also intimately related to our psychology and the beliefs that we have and you know we we are imprinted with a lot of those things early on, right?

The childhood beliefs around money and it sounds like you had a lot of great mentors at that time. And but there's some people where you know we have a different mindset, it might be more scarcity related and were unable to break through some of those things. So I definitely would love to to dive into that later. Um And so so that was high school and uh then you got into Wall Street. So how did that transition happen? And I would love to hear about your experience on Wall Street as well.

Yeah so working on Wall Street was working for large companies on what they call the south side and you know it was more working with, I worked with hedge funds, I work with fund managers. You know, all the big companies that are in your 401k. Or any of your retirement plans. If you have an ira you might have it with an investment company. They were all of our clients. So it was always so interest just to watch the inner workings of the stock market, how they traded and how they made investment decisions.

And that came down to really studying companies and studying the background on businesses and you know there were a lot of financials involved, I always tell people I'm not a bookkeeper, I'm not an accountant, I don't do taxes, but because I've been around financials, my whole career, it's very easy for me to go ahead and look at other people's businesses and interpret what's going on just from the finances because I like, like I always say, and I know john you experience this as well because our initial conversation was, hey, tell me about your business and then I was like, hey, now show me your financials because you know, you and your business are symbiotic, right?

And so you have to get both sides of the story and the financials tell a story of its own. I love that and yeah, that's definitely, uh, when, when Debra and I first connected that was, that was exactly it. It was, yeah. And sometimes I think there can be a distance as well between what the business owner thinks is going on and then what the financial say, especially if you know, the financials are, are muddy and they're not as clear as they need to be. There can be a distance.

And Deborah was super helpful in terms of reconciling those two and building an actual plan of what to do to get towards my goals and what's really interesting about that, john is that a lot of people approaches from an accounting perspective and I know this is probably gonna tie into profit first, but the way that I look at things from a business owner perspective because I am a business owner. So it's not just looking at you know the profit and loss statement or the balance sheet or even your checkbook, it's about what's going on.

Business owner to business owner in real life versus talking financials, yes, getting lost in the numbers and the weeds and like missing the bigger picture, you know just like staring at one aspect of it and so I guess I'm curious. So you you were at Wall Street and then you made the transition away from Wall Street to to do your own thing. I'm curious like where what was the motivation and how did it feel when you were making that leap as well? Yeah. Well you know when you when you work on Wall Street and you know I was much younger then so you know it really is a young person's game.

And so at that time you know my husband and I we both he works in I. T. On Wall Street, I was a traitor but at the same time we worked a lot of hours, a lot, a lot of hours. So this little bundle of joy came into our life about 12 years ago and was the catalyst for mama new mom to say you know what, I got to step back from this and I'm gonna you know take a leap and start my own business because you know I love being a mom but I knew I also wanted to keep my foothold and working with people and just Having my own business.

So that's where I started 12 years ago and it grew slowly but surely but kept at it, kept at it, kept at it and the finance piece was always the anchor to that and even those skill sets that I learned got me through those really tough years and that's what really profit first brings everything home for me that I know we're going to talk about in a moment, but that kept me on track to be able to build the business to where it is today. I love that.

So the inspiration was, it was family and also, you know, there's a lot more control as well when you, when you own your own business, you can guide the strategic direction of it and really just build the type of life that that you envision and that you want for yourself. So I think a lot of people can relate to that, especially myself. It's it's um it's just you know, we want to be the masters of our own fate and then that's what you did. So, and so I guess we could dive into profit first.

Maybe it's a quick intro like what is profit first? You know, some people might have heard of it in the past, but like what exactly is profit first and like why why is it important to business owners? Yeah. So profit first is a book written by Mike Macau. It's so you're gonna want to look that up. And so he wrote a fantastic book a number of years ago, that has been on the best seller list for years. So once I read the book and I was like, oh my gosh, I gotta meet this guy.

And we were actually, we live in the same state, we probably live about 30 minutes from each other. So I was able to interview him for a magazine I had at the time quite some time ago and so we just got on really well once he wrote this book and the book is all about how do you create a profitable business? And what the funny thing is, and I'm sure a lot of your listeners will identify if you have your own business as you move through it. It's really funny.

Number one, we're never taught how to be a business owner. Number two were never given like the plan or the playbook of how to be a successful business owner to be, to be profitable and make money. It's this phenomenon where we go into business, we make money and then someday it's kind of like, you know, we're waiting for that magical day to become profitable And a lot of times that day never comes because almost 80% of all us-based businesses aren't generating $1 of profit. It's a real travesty. So a lot of people are, you know, money coming in money going out and I'm sure a lot of your listeners can identify with that because that's most of that's most of the country and most business owners in the service uh, in the service industry.

So there's a better way to do it. And when mike put out this book, I mean you can say a lot of different things about it, but how I like to describe it, it's the playbook for business owners to win in this game of business and become profitable. I love that. And, and I, and I guess one other thing some people might ask is why profit first versus another system, right? There's other systems out there and why why specifically profit first? Yeah. Well, because profit first is written for the business owner.

It's not written for an accountant or bookkeeper. They look at numbers and interpret things very, very differently. Business owners, we manage our business, looking at the balance in our bank account and if the no number is high that day, right? We're like, we're having a good day. And if that number is low and we have to pay payroll, oh, it's not going to be such a good day, right? So, or we have some bills to pay or anything like that. So it's a money management system for business owners, it works with our natural rhythm of quite frankly we like to spend.

So what we do is in making sure that you become profitable is we say I'll give you an example, so just say you have $10,000 in your bank account now you're like alright great, I got $10,000 to spend and you're like no profit first, hold on one second, what we're gonna do is we're gonna carve off a piece and put it into a bucket, which is a savings account, well maybe maybe we'll take $1000 and put that in a savings account labeled profit and then we're also gonna take 1500 carve it off of that and put it in a tax account and call that tax right?

And so now we start making decisions on a different number that 10,000 is now $7500 that we're making decisions on. I had to do that quick calculations, I don't do math. Well in my head, so $1000 gets carved off into a profit of 1500 attacks and now we've got $7500 to make the decision on versus the 10 10,000. You can see this is such an easy concept, but sometimes when putting it in play, you come up against challenges because business owners are always robbing Peter to pay Paul. But this gets you out of that cycle because it starts giving you the opportunity to make different decisions, you're going to decide how to use that $7500 differently than if it was 10,000 Then there's and I think there's um from the book 1st.

I think there's like two concepts that um kind of the foundation, I think one of them I remember correctly is a small, small plates theory. It's like, you know, the idea is like psychologically, you know, the bigger your plate or the smaller plate you will eat how much is on that plate. And so if you're trying to diet and lose weight, the idea is how do I, you know, have smaller place in my home? So I eat less and it sounds like mike has applied this concept to finances and business finances as well. Absolutely.

And so I always like to use the thanksgiving example. So think about thanksgiving whoever's cooking. I always try to go somewhere so I don't have to cook and you should do that too if you can. But um so just say the thanksgiving turkey comes out, it's got all the fixings and everything else. The big platter comes out and goes and gets put on the table now, what do you do next? Do you take your plate and serve from it? Right? You carve a little off and serve some on your plate or do you pull your chair up and start putting your fork in the turkey and start cutting and eating it.

So that's the difference, right? So we've got that thanksgiving turkey, we've got to carve up into small plates, the same thing with profit first? It's take that Turkey or take that all that money in your bank account. You divvy it up, You start serving your plates, your plates happen to be your operating expenses. Absolutely. And the other thing is number two owners pay because you gotta pay yourself and a lot of people I know want to pay themselves more. This is how you start to do it.

The third plate is tax as we talked about previously because why taxes are a burden that we all have to take on and it's always certain you're always gonna have to pay them. But taxes are the one thing that throw a lot of businesses off stride when it comes to april, it's like you're talking to your C. P. A. And it's like oh yeah oh X. Amount of dollars and tax. You're like what I do, you know I was gonna go this much in taxes like it happens year after year.

So this mitigates that pain. And we don't like surprises as business owners, we don't like that stuff. So that's your third plate tax serve money into that tax account. So when april comes, guess what? You're ahead of the game and you never have to play monday morning quarterback trying to catch up on your taxes, right? And then your last plate is profit. This is what it's all about. Big businesses. Right? I came from Wall Street. Big businesses have quarterly profits. So why are we any different than the big corporations?

We can have the same thing, generate our own profits very and then each quarter have a little check cut to ourselves. That's like, hey, guess what have you ever gotten a bonus in your business, nope profit first gives you a bonus? Why? Because you have that profit account in place and you can pay yourself dividends every quarter, just like the big businesses and just double click on that. So um, yeah, for everyone who's not familiar, uh at least for me when I first started, I only had one business bank account, everything would go into there.

You know, I would be saving my taxes there. I would, you know, my owners pay was in there and everything was just in this one bank account and it looks great because it was big, but I just had no clarity on what was supposed to go to what. And I was operating up of google sheets, you know, spreadsheets and kind of what Debra is saying is that instead of having just one bank account, the Prophet first system, you will be splitting, you'll be having multiple bank accounts where you have dedicated, um, we have dedicated accounts for things like you mentioned like operating expenses, owners pay um, your profit as well as your taxes.

And so instead of having these, this one giant account, you now have these smaller plates or the smaller accounts where you can then distribute each of the funds. And so I think the power there there is that um you know you're leveraging that small plates theory because you know, let's say you have your operating expenses, you have a less amount that you're operating with and so you are forced to either, you know cut expenses if it's not necessary um and also not overspending well at the same time you are just organized with all of the different accounts as well.

Exactly and it creates transparency. So now you know where all of your money is and you can just see that by just logging in your accounts and some people are like, oh but I have to open up multiple accounts, it's super easy, it's just a couple extra savings accounts, you just push that money in each time so that once again you're not making decisions on that whole pile of money because that whole pile of money really needs to be divided up. Just like john said gives you the transparency that everything now in that operating account you can absolutely spend down to zero.

We want to use your natural tendency to spend and we put that in place through profit first and we have to spend uh the other thing is just the name profit first. And so the formula from profit first, it's, it's that you, you already identify the amount of profit that you want to start off with and then from there you determine, okay, this is how much I have left to spend on other things and I feel like that's a reversal on the paradigm where it's like most people are expecting profit at the end, but in this case we're starting with profit in the beginning, can you speak more to that?

And like why, why we do that? Yeah, So why we do that is because once again, we were given a little bit of a different set of rules that don't work for us, that's given to us from the accounting industry. Now they're not doing anything wrong because they have to make sure our bookkeeping is correct and our taxes are filed correctly. It's just the way the finance system looks at things, but it's not the way that business owners operate. So let me give you this example, if I ask most people what the definition of profit is is they'll say sales minus expenses equals profit, which you're absolutely correct.

But the the problem is, is that formula doesn't work for us, business owners, because then we're in this waiting for someday, for revenue to exceed expenses. And this funny thing tends to happen, the more we make money in our business, right, revenue goes up. And I know a lot of your listeners probably experience this crazy phenomenon. Money comes in, revenue goes up. And guess what expenses go up in tandem with the, with the sales, right and the revenue coming in. So how do we mitigate that? We actually change the formula, we reverse engineer the formula.

So instead of sales minus expenses equals profit, we actually reverse engineer it. We say sales minus profit, right? We'll take our profits out first equals expenses. So with that new calculation of sales minus profit equals expenses, it gives you the opportunity to carve out that money, that's yours to pay yourself put towards profits, fund that tax account. And now what's left is what you make decisions on that's left in your operating account. And so that's the magic formula that mike in the book, so brilliantly put together.

And once you have that formula, this is now giving you that advantage, you have that playbook to become successful in business and beat everybody else out, that's not profitable. I love that. And that's, and I think it's the magic, it's starting off with that profit because if we don't plan on it, we're just, we're just not going to get it. And um and also the, one of the laws, it's called Parkinson's law where you know, work expands to, you know, the amount of time allocated, but also applies to money.

It's like your spending will, will expand the amount that you have. And so if you start off with that profit, you know, whether that's 5% 10% 20% 30%. It's all going to also be depend on your business, but if you can carve that out in the beginning, then that's, I mean, you're going to have it right, it's ready in the bank. It's not gone, it's already in the bank account, so you can't take it away. Beautiful part. It is and everybody can get in so you don't have to wait for a moment in time to be profitable.

It's a decision. So if you want to be profitable today, guess what? You just start carving off 1% of your monthly revenues and put it in a profit account. That's it. That's it. Easy as that just to get started. Just yeah, you can literally do it today today, you can start. And another thing too is um so when I first introduced profit first to my accountant and I think you hinted at this earlier. A lot of them are like, this is not in accordance with was the gap accounting gap, accounting generally accepted accounting principles, that's what they operate on.

And so when I tried to introduce and they said, no, this is gonna take a lot of reconciling like this is, this just isn't gonna work for us. Um I can imagine like, let's say someone is interested in implementing profit first. The challenge could be, you know, getting their accountant on board, could you speak to like why they have that? I guess initial hesitation and how to get them on board or is it even possible to get them on board and should we work with someone else?

Yeah. So to tell you the truth, you know, I I think they think that it's more difficult than it is because they don't know what it is. And when somebody like me as a proper first professional goes into businesses, I tend to take care of all of this and then bridge the gap between the business owner and the accountant so that we all play really, really nice together. And really the burden falls more on me than the accountant. The is really just concerned with making sure they have the right numbers so that they can go ahead and file your taxes in a very, very manageable way.

And once they start seeing multiple accounts, they think that it's gonna be too hard to wrangle. We put together the system very, very simply so that your account is going to be happy. Listen, some will never come around to it and be like, nope, you gotta do it my way and this way and it's just a lack of knowledge, it's not right wrong, better, good. But they've been taught to operate on certain principles and listen, their job is to make sure that they find every single possible deduction for you and keep you out of tax jail.

That's their job. It really isn't to create profitability. But for someone like me, my job is to create profitability in people's businesses. I love that. So it's, it's really, yeah, they're just trying to keep you out of, you know being tossed in the, in the locker. But for you it's more like, okay, how do we build the profitability of your business? Because at the end of the day, your business is a vehicle to live the life that you want and you can't live the life that you want without the profitability in place.

And yes, you're gonna have to pay taxes on it, but you're still taking home a lot more money than it's you, you weren't otherwise you're just cutting it right at the zero or even going negative in terms of your spending. Yeah, you get ahead of the game and and you're given the rules to play the game and business that nobody's ever given. Like even if you go to school to get your MBA or any, you don't learn this stuff and it's very very Simple. And you know, I hear a lot of people that say, you know, listen, I'm not good with money.

It's like you don't have to be, all you have to do is this, it's just a step by step process. You don't have to be great with money. You don't have to understand all your financials, it's about taking a part of your money that came into your bank account, just take a piece of it, even if you take a $100 or $500 a month, whatever sticking into profit account, it's an easy peasy system. So if someone wanted to start today, like let's say they have the one bank account, they say, oh yeah one implement profit first, what would be maybe their first three steps to get started with the profit for system.

Yeah, so first three steps, number one is make sure that you have a way of looking at all the money coming in your bank account. So just that step one step to open up a separate savings account and call profit account and just do that step that step number two step number three is just get started even pick one time a month. The prophet first system in the book tells you to do this twice a month. Just take at the end of the month, at the end of the month, the 28th and 30th, whatever it is, look at all the money that came in the account and just carve a piece off and make a deposit into that profit account and you can get started today on your own that.

And also if you haven't read the book, of course, I think that'd be another great place to start. You know, google uh, you know, profit first and I believe there's different profit first books for different professions as well, right? That I think I've seen like there's the general profit first and I believe there's profit first for contractors, I have that book around here somewhere. So depending on, you know what you're looking for. Like you can look specifically for industry and you'll be able to find potentially a book written by a profit First Professional.

Yes, there are specific books written for specific industries, but profit first Classic for mike McCowen is the O. G. That's the foundational piece to start with. I love that. Okay, so with that, I think we'd love to transition um, from profit for us just to talk more generally about financial freedom. Since really, what this podcast is about is how can we take our business and use it as a vehicle to live the life that we want? And part of that might be, hey, I got a dream house dream car, but also it's in terms of impact.

It's like, what can I do to help build a better life for my employees or build a better life in, in my community or for the nonprofits that I'm involved in. And so just to kick things off, like what does financial freedom mean to you? Um, yeah, what does the financial freedom mean to you? Yeah, financial freedom is doing what you want when you want, how you want. That's what it comes down to what you want, when you want, how you want. And so how this looks is, is that when you start employing a, a way of carving this out when it comes to money in the account.

Just taking that one little piece, putting it to the side, putting it in this profit account. This is one way you can start getting there. And it also comes down to one key thing that everybody has to do and it starts with just making a decision, making a decision to say, I am going to live my life when it comes to incorporating financial freedom. So it's making the decision before you go into doing and taking any action steps really sitting in a place where you can just say, I am going to make a decision today, know more of what I've been doing in the past, I'm gonna decide today be to become financially free.

And then you can start writing down what that actually means to you, Does it mean less time at work? Does it mean raising prices? So you can increase revenue, Does it mean cutting expenses and really dialing in those expenses and seeing what's necessary and what's not, is it a matter of you want to give more? So that you want to be able to put that into your financial plan? I want to give to different organizations or people or even people in your family? Right. So it's just about making that decision and then writing down the pieces of what does life look like?

How do you want to see it happen? How do you want to see it unfold? Because you know, as human beings, we are great manifestos when we have clarity. So number one is making the decision and number two is getting clarity of what financial freedom means to you, it's different for everybody. Like I love working, so I would probably not stop working right. I just got off a call with my financial players, like, so when you want to retire, like never, never, because I love what I do, but I do like to do things within a certain period of time, so am I working, you know, 80 hour work weeks?

No, because it's all how I design it, making the money that I want to in the time that I that I've allotted so that I can have my business and a personal life. So, but that was one of my things that I wrote down on my list, so it's making the decision to be financially free. And then number two, what does financial freedom mean to you? And I think also part of that visioning as well, what I found is removing a lot of the head gunk on these beliefs that you know, others have imposed on you at that they they think is part of financial freedom, but you might not even really care about.

So things like, I mean for some people, you know, they love the fancy cars, they love the fancy watches and there's nothing wrong with that, but for some people, they just take on those beliefs just because they saw other people doing it and I think a part of defining your financial freedom is really clarifying, like what truly is important to you. Maybe not the first thing that comes to mind, it will be that maybe it's gonna take some time to fully clarify what are my core values.

What's important is the time with the family? Is it working more? Is it certain, certain things, maybe I want more rental properties or I don't know what it is for some people, but um, I think a piece of that too is like cutting out things that are really not that important to you, but you thought they were, but it's, it's like a, it's like this mental game you have to work through. Absolutely. Have you had to go through that just like, because it's, I feel like it's something that is almost invisible to people, right?

It's like ad but how about the subtraction as well in getting to financial freedom? Yeah. Well when it comes to the head junk, don't forget making that leap from being an employee in a company, right? Where you're trading, you know, dollars for hours versus having your own business where it's more about, you know, is it dollars for hours or is it more value based? I've created more of a value based company where it comes to, when I Work with my clients, it's not dollars per hour, right?

So it was a big shift for me as far as mentally of not having to trade that time for money working 80 hours a week and be able to make the money that I wanted to. So that is part of the head junk for sure. But what really, really helps too is that if you get stuck in that start finding other people that are living the life that you want and look at what they're doing, how are they operating, what do they value? Because quite frankly I don't like trying to create these things for myself from scratch like my, my piece of paper will be totally blank.

But if I can use somebody as the example, somebody that I love maybe how they're living their life or what they're doing with their family, what I love that they're doing in business, you know, ask them, talk with them, see what they're doing, see if that's what you want, that's how you can start generating this for yourself. So you don't have to come up with the original ideas, just emulate what somebody else is doing and saying, hey, I want that And you, you bring up two really good points, you know, the first one was, we only have so much time.

We only, we all have 24 hours per day, you know, seven days a week, 365 a year. And that's all that we got, if you only trade your time for dollars, I mean you're not getting any more time so you can't make any more, I mean maybe you can increase your value within that time period. But um yeah, making that leap from employee to business owner is can be a big one, especially if you've been working for someone your entire life. It's it can be scary leap because there's a there's a different level of responsibility that when it comes to business ownership and that's a lot of people have told me like I I try to encourage them, but they're like, no that's but I don't, I just you know, I just want to be able to shut off during some parts of the day and you know, I don't want to have to be responsible for all these people under me.

And I think it would be a scary chasm to jump, but it's the only way to really get the best leverage over your time because you only have so much time. It is. And I remember when I left my job, I always described it as jumping off the ledge into the grand can without a parachute. It was, that's how it felt it was that excruciating. But I also knew that somewhere on the other side of this, like I had had a career, I knew that I could always go back to Wall Street if I wanted to have a good resume and you know, you can always go back to the job, right, you can always do that.

But starting your own business does start giving you the financial freedom, but at the same time, even if you are working for someone else, you can do some of these elements yourself as well. It's not just business owners, you can hack your own system of where you spend money and how you make money. There's a lot of different opportunities out there now, especially in this gig economy. Yes, yes, 100%. And and the other thing you mentioned was um yeah, the people that you're surrounded with can help shape your vision uh for someone who is just getting started, someone who has not really found those types of people.

How how does someone find them? Because it's, it can be difficult, right? You you have to put yourself out there to connect with these people and then you have to connect with them in such a way where they might be open to sharing some of the, you know, the inner workings of how things are going for them and their their thoughts on things. And so how does, how does someone get themselves around good people and then how does someone develop those relationships with those good people? Well, it's so much easier now in the internet age, like back when I first started in business, like we didn't have all this, we have all this, so we had networking, we had local networking group, so go where the business owners are hang out with them, see what they're up to.

You probably have a chamber of commerce around you start there, right. Any business groups go online just do a quick google search like business groups in my area and then there's like linkedin groups for business owners. I'm sure there's an H back linkedin group where you can go talk to other business owners, see what they're up to. The internet provides so much information now to be able to just go ahead and do that quick search. Once again it's just about making that decision and then taking action super simple.

And 11 way I found some folks to is it's just going to the conferences um and its usually the ones outside of your local area because if someone is willing to invest the time and money to go to a conference and let's say there's a V. I. P. Ticket, let's say you get the V. I. P. Ticket. If someone's willing to spend that money they are most likely going to be the types of people that you want to be surrounding yourself with. So and so like I know for this year in october there is going to be a conference in uh in Vegas and this is going to be um for the service rocket summit and uh it's gonna be great because there's going to be I believe 1000 1500 H. Fact business owners there there's a V. I. P. And you know section as well and there's the most incredible people in the HVAC industry going to be there.

And so these types of events they don't happen all the time. But if you want to connect with people who are killing it in markets outside of yours like these are the types of events that you want to go to and you know be open be friendly you know see how you can give and build connections because um you know there's there's only so many people in your local market but like if you can find the best people in the country and they're all going in the same place why not go there.

Right that's that's that's the beautiful thing with with the world now it's just these we have industry conferences um. Yeah absolutely so start local and then go more regional um And it's great because then you know that's a really good use of time and money and it's also investing in yourself with which we as business owners we're we're servicing our clients and everything else we need time for ourselves And on the tax side it's a tax deduction too. So it's all good double win double win. Yeah it's great.

I love it. I love to travel and you know and people are traveling again so it's a great opportunity to get up and go especially Vegas why not? Of course also. Well I think we're running up on on time here but as we as we come to the close any advice for someone who is listening, they might be interested in profit first. Or maybe they're interested in, how do I get closer towards financial freedom? Any parting advice for folks that are interested in moving towards that? Yeah. So, you know, if you I have something for the listeners, um, and it, and it's a, it's a little bit of a download, but it's a really powerful download about the five secrets of success hiding in your financials.

You would not believe what's hiding in your numbers right now that you probably never thought of. So it is a little bit of a freebie and my website is next level ceo dot biz. That's next level ceo dot biz. And I'm sure it'll probably be in the show notes as well as the show notes, next level ceo dot biz. And what, what can someone hope to learn from from this once they go through the document. Yeah. So a little bit about what we talked about today, but just to be able to take your power back with your financials.

You know, so many business owners feel like that their money is just going out the window. They don't know where it goes. They don't know where it's going towards this will bring you back into the driver's seat to be able to know what's going on with your money and the opportunities that are lying before your feet that you probably don't even know of what's going on in your finance so it can start creating that clarity for yourself so that you can move on. It actually preps you for profit first.

So all the better and it's completely free. So you have to pay for a book. You just, I believe you probably just have to enter in your name and email, you'll probably get the and then boom, you got all the fundamentals to get started with profit first, yep. Super condemned super tight. It's not 50,000 pages. I get to the point because I'm a business owner as well. I always say, don't give me the labor, give me the baby, right? So it's written in that bait as well. I love it.

And for anyone who wants to get in contact with you. Deborah like what would be the best way? Would it be through the website, yep through the website or Deborah at Debra Angela to dot com. Perfect, awesome. Well I think that should be about it for today. You know, it's first day bro, thank you so much for your time today. You know, profit first. You know, getting the rundown on that as well as you know, what are some of the moves people can make to get towards financial freedom.

And also thank you to the listeners who are here who are listening in and looking to improve and grow your business and achieve financial freedom. So that's about it, you know, thanks so much everybody, I'm so glad to have you and we'll catch you on the next one. All right, Take care everyone. Thank you for joining us for the H VAC Financial Freedom podcast. Follow us on Stream Yard Apple podcast, Spotify, amazon music and check out our main website www dot h. Vac financial freedom dot com, to find out how you can also achieve financial freedom.

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