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March 29, 2024 17 mins

In this episode, we shed light on common financial fears that can hamper the potential growth of your micro school or homeschool hybrid venture. From remaining paralyzed by financial uncertainties to transforming into successful business owners, we break down the journey and simplify it for you.  Financial freedom is possible and achievable!

It's not just about having a significant bank balance; it’s about having the freedom and the necessary financial knowledge to operate your business effectively. No matter whether you're starting from scratch or seeking growth for your existing micro school, you need a budget, an insightful understanding of your numbers, financial planning, and strategic marketing to overcome financial hurdles and achieve success.

Discover Your Path to Financial Freedom In the 'Micro School Masterminds', a unique program dedicated to aspiring educational entrepreneurs, you'll get access to intensive coaching sessions, strategic planning tools, and community support to transform your dream into reality. With our experience and insights, you're sure to navigate the financial fog with ease and step into the realm of financial freedom. From foundational budgeting lessons to creative revenue maximization strategies, this episode is a must-listen for every teacher turned entrepreneur dealing with financial insecurities !Join us in the 'Micro School Masterminds', available at TeachersLetYourLightShine.com/masterminds. Start your journey today!

 

 

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Get started on your dream school right now! Get all the documents you need to jumpstart, market and enroll students! www.teachersletyourlightshine.com/shop  We have step-by-step instructions to help you write powerful marketing brochures, enrollment forms, introductory packets, and so much more! You’ll also find easy-to-use templates made to simplify your creation process, as well as beautiful real-life examples used by my micro-school, Lighthouse Learning, to give you creative inspiration when designing your very own forms.  You will be able to seal the deal with peace and clarity when you hand deliver your new handbook and contract.  Tune in to today's episode to find out more and head over to our shop to purchase your documents at teachersletyourlightshine.com/shop

 

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Transcript

Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
If you are like me, you have absolutely felt paralyzed by financial fears.
You've been worried about whether you'll have enough money to sustain your micro
school or your homeschool hybrid program.
You've been concerned about whether you even had the finances to get started.
You've been worried about whether or not this is all even worth it.

(00:20):
You've been worried about whether or not you can even invest to learning more, to growing more.
Will you get the funding? Will you get the families? Will you get the resources?
Sources? How much money does this actually cost?
What should my budget be? Well, fear not, dear listener, for today's episode
is here to guide you from fear to financial freedom.
Today, we're going to explore the importance of knowing your numbers for business

(00:43):
success and overcoming financial hurdles on your educational entrepreneurial journey.
Let's get it, baby. baby. Parents and teachers, the time has come.
The time for us to gather together and create the ultimate learning environment
for those of us leading the movement and education by creating micro schools

(01:08):
and homeschool hybrids.
Now introducing micro school masterminds, the one and only program for those
of us who are dedicated to making a change and creating such incredible incredible
opportunities, not only for our community,
for our own families, for our own life.
If you are tired of feeling overwhelmed and isolated in your journey of building

(01:32):
a micro school or homeschool hybrid, Micro School Masterminds is here to support you.
Music.
The wondering how to grow what you already have. Your answer is here.
You've been asking for this and we've created it.

(01:54):
Microschool Masterminds, the one and only ultimate solution to transform your
dream into your reality.
Boost your success with efficient time management, financial planning,
strategic marketing, and systems and processes to streamline all your wild and
amazing ideas so you can actually move the mountains standing in your way of your greatest success.

(02:17):
We know what it's like to struggle with analysis paralysis, financial insecurity,
and marketing challenges in your micro school or homeschool hybrid.
Music.
That's why we created Micro School Masterminds, an online community with weekly
support to help the beginner, current micro school owner, and the person who
is ready to grow their existing business and mindset.

(02:37):
With Micro School Masterminds, you'll receive monthly group coaching sessions
with me, Mackenzie Oliver, private support, community access,
and weekly content filled with templates, videos, and printables to help you
with all of your business building tasks.
If you're feeling stuck in a rut, battling time management issues,
needing clarity over your budget or your finances, if you're struggling to hire

(03:00):
the dream team or craving accountability and inspiration, Microschool Masterminds is your answer.
We've helped hundreds of teachers pave the way to their micro school or homeschool
hybrid dream we've created 733 percent of growth in our own micro school we
are not letting stagnation overwhelm or miss opportunities hold you.

(03:23):
Now and join Microschool Masterminds to unlock the tools, the guidance,
and the community you need to thrive.
Don't miss out on this chance to transform your educational business and secure your success.
Visit TeachersLetYourLightShine.com slash masterminds to sign up today and lock
in introductory pricing for life.

(03:43):
Again, that's TeachersLetYourLightShine.com slash masterminds.
I will be waiting for you on the other side.
You guys, we're literally days away from Microschool Masterminds launching.
April 1st, Monday, April 1st, the doors open.
You can get in any day. It's not just from April to April 31st.

(04:04):
It's for the rest of your life. Microschool Masterminds is here.
It is the hub for anybody who has either started their microschool,
wanting to start their microschool.
It's here. it's it is it's like
birthing a baby and this baby is so so
precious i cannot wait

(04:25):
for you to get your hands on this because i know it's going to help you tremendously
especially with what we're going to be talking about in april is about knowing
our numbers and our finances when you get into micro school masterminds already
you're going to have a financial spreadsheet it's so important.
I'm going to be talking more about that in group coaching in April. The finances are real.

(04:49):
They're so real. My husband, when he told me he wanted to start a business,
I'm like, I got to see the numbers.
When he told me we wanted to move from Missouri to Florida, that time we were
so young. I didn't know the numbers.
Neither one of us knew what the numbers were going to look like.
We were just living off faith instead of finances.
And that was awesome. And I'm so grateful that we were because sometimes the

(05:12):
numbers can look really scary.
But a lot of times we make up a scary story
because it's invisible and we are too afraid to
face reality and if we just knew it we just
knew what the numbers were going to be it would give us motivation
it would give us a clear path for now I know what I need to do now I know and
my husband said Mackenzie the one thing that we have to get these teachers to

(05:36):
learn is their numbers they've gotta know their numbers and he's right and so
you you can get all the spreadsheets in the world.
But if it doesn't make sense to you and you don't make a habit out of it, it's good.
It's better than nothing. But we got to make habits out of knowing our numbers.
Even if you're not a numbers person, my husband's not a numbers person.
I'm not a numbers person, but I'm growing into loving it because every time

(06:00):
I know my numbers, I'm like, oh, got it. I do need to run summer school.
Oh, got it. I do need to start marketing for this. Oh, got it. I can't hire for that.
Oh, I can hire for this.
Ooh, we can do this. Ooh, we can get money this way.
It's so fun. I can't even believe it.

(06:21):
Like, if I can't even tell you how many nights and days I was exhausted.
Frustrated, financially paralyzed until I hired a coach.
His name is Varun. Varun,
Oh, I just, I'm so grateful for him. God answered my prayers.

(06:42):
He's an amazing, amazing financial advisor.
Together, we built a customized spreadsheet, a budget, everything.
And it's not just about your business, it's about your personal life.
You need to know the numbers on your personal life too.
If you are in major debt, if you don't know how much money you spend on a monthly
basis, how are you going to be at financial peace with what you're doing?

(07:06):
I'm not saying it has to be perfect.
There are people who've been living in cars that become million billionaires.
They didn't have it all together.
But what I do know is that we have to be good stewards of our money, even if we don't have it.
I believe being a good steward of our money is at least knowing how we're gonna

(07:29):
get it or at least knowing what it's going to take.
So let's just start there. That's where we're starting.
It's not just about how much money we're going to make. It's just also not about
how many students we're going to have.
It's about overcoming our financial fears to achieving financial freedom in our business.
As a teacher entrepreneur, mastering your numbers, even if you're like,

(07:51):
I'm not an accountant, I'm not a numbers person, I'm terrible at math,
is essential for long-term success. But where do you start?
How do you navigate budgeting, tracking expenses, maximizing revenue?
So let's go through the surface level together.
I hope that you are getting into Microschool Masterminds. It's not just about
getting the spreadsheets. You've got to get the lesson behind it as well.

(08:14):
This is going to be so good for you. So good for you.
It's going to be so good for those of you whose husbands are not on board yet.
It's time for them to become more clarified in this situation by you showing them the numbers.
My husband recently told me of an adventure he wanted to start.
And I'm like, I'm going to tell you this right now, honey. I said,

(08:35):
I cannot support you in this right now because I'm getting a little nervous
because I don't see anything on paper. It's all very invisible.
And the more invisible it is, the more scary it feels. So we got to do what
we tell people to do. We need to sit down at the table and do some numbers.
Well, we didn't sit down at the table and do some numbers.
We laid in bed and did some numbers on a notebook paper.

(08:55):
And I'm like, all right, so we need this. And you got to get this truck.
And you got to get this. And then we got to do this. And then if you want to
work at Lighthouse Learning, we can do this. And I'm like, all right.
So by the end of this, you need to make this much money. Can you do it?
He's like, yeah. And I'm like, whoa, let's go. We haven't done it yet.
But at least we know. no, at least it's not so scary. At least it's not so scary.
And that's what we want for you.
And even if you've already started and you're like, this isn't making any sense to me.

(09:19):
I'm not at all a financial guru. I'm not a financial advisor,
but I do have some financial sense to me.
And I've got things that have worked and I truly believe it is what has helped
us become very successful and profitable in our school.
So it is definitely crucial to confront your financial fears head on.

(09:40):
Just even acknowledging the concerns and anxieties that could be holding you
back, whether it be financial, fear of scarcity.
I mean, definitely in teachers, I see this all the time. We've not been taught
to generate more revenue. We've been taught.
That teachers don't make a lot of money. We have a poverty mindset.
We like knowing how much money we're going to get. We like knowing that that

(10:03):
money is divided up into the summer. There's the fear of the unknown.
And I totally recognize that these fears are natural, but they're not insurmountable.
So the first thing is that we start talking about budgeting.
And by creating a very realistic budget, it is the foundation of financial stability and for growth.
So it's very important that we take time to analyze our expenses,

(10:24):
identify areas for cost savings, set clear financial goals for our micro school,
and remember that every dollar counts.
So being strategic in how we allocate our resources.
Later on, after we get into, okay, we've got our spreadsheets,
we've got our budget, we've got our accounting system, we've got our invoicing

(10:44):
system, we have our numbers squared away, we know how many students we need,
we know how much approximately it's going to cost.
Later on, we start talking about funding.
Then that's in module five. We also talk about forecasting.
You have access to all of this when you get into Microschool Masterminds,
but we drip more and more information as time goes on.

(11:07):
You don't have everything in the world to build your school in Microschool Masterminds,
but you will eventually.
But if you had it all now, it would be completely overwhelming.
You probably just want to shut down, but we've We've given you enough to satisfy
your taste buds, and it's just going to be getting more and more and more.
It's like a smorgasbord.
We also have to track our expenses.
It is another essential aspect of financial management.

(11:31):
So keeping meticulous records of your income and your expenses,
regularly reviewing your financial statements, monitoring your cash flow,
identifying areas of concern.
Knowledge truly is power when it comes to your finances. So staying informed
and proactive is really, really good, but we gotta set up habits for that.
So I'm excited to teach you that.

(11:53):
And micro school masterminds. But if you are just feeling in this place of like,
gosh, I don't even know where to get started.
Let's get started by going and opening up your bank account. Look at the past month.
Where has your money gone? How many bank accounts do you have?
How many credit cards do you have? Let's just start where you are.
Just start where you are. Let's get awareness of where we are.
Let's fill up. Let's just look at our surroundings.

(12:14):
Let's not be scared of it. Let's actually have a fun day. Let's actually turn on some music.
Let's just forget Forget about all the papers around us. Let's just go look
at that bank account because it's invisible, right?
Now let's make it visible. Let's look at where we are. Let's put some pen to
some paper. Let's get ourselves together.
And let's remember that when you become an entrepreneur, you literally have
the opportunity to generate as much revenue as you could possibly want.

(12:40):
You really can. I am learning that.
And I'm like, wow, wow. Thank you, God, for helping to clear my mind.
I'm not totally there, but I'm getting there. and I'm learning and I'm growing.
And it's due to a lot of professional developments due to me really feeding
my mind, praying, asking God for the answers, reading books.
I'm excited to share some of

(13:01):
my favorite books with you, but this is where it's at. Knowledge is power.
Maximizing your revenue is the final piece of the puzzle. Exploring ways that
you can diversify your revenue streams.
Woo wee, it's so fun. Whether it's through tuition fees, fundraising,
grants, grants, partnerships, organizations.
Let's be innovative. Let's think outside the box.

(13:24):
Let's leverage every opportunity to increase your income. And that is.
Exactly what you can look forward to when you have your own business.
But let's first get out of the financial fog so we can get into the financial freedom.
Woo! That should be, okay, we're hashtagging that. Financial fog to financial

(13:46):
freedom. That was a good one. Thank you, God.
All right. I'll see you guys in Micro School Masterminds. Doors open on Monday.
Next Thursday, you get another goodie in your teacher mailbox.
Then the next Thursday, we got our group coaching and it just keeps getting
better and better every single Thursday,
but you've got at least a platform to get started with a bunch of goodies in

(14:07):
there to help you with anything to do with time, money, and management over
the course of your next several years of existence, my friends.
This is Michael School Masterminds. Thank you, God, for the opportunity to serve
these beautiful people. I cannot wait to see you there.
TeachersLayYourLightShine.com slash masterminds. Parents and teachers, the time has come.

(14:31):
The time for us to gather together and create the ultimate learning environment
for those of us leading the movement and education by creating micro schools
and homeschool hybrids.
Now introducing micro school masterminds, the one and only program for those
of us who are dedicated to making a change and creating such incredible opportunities,

(14:56):
not only for our community, for our own families, for our own life.
If you are tired of feeling overwhelmed and isolated in your journey of building
a micro school or homeschool hybrid, Microschool Masterminds is here to support
you through the frustration, the uncertainty.
Music.
The building business task, the direction, the vision, the time constraints,

(15:17):
the fumbling through your finances, the wondering how to grow what you already have.
Your answer is here. You've been asking for this and we've created it.
Microschool Masterminds, the one and only ultimate solution to transform your
dream into your reality.
Boost your success with efficient time management, financial planning,

(15:38):
strategic marketing, and systems and processes to streamline all your wild and
amazing ideas so you can actually move the mountains standing in your way of your greatest success.
We know what it's like to struggle with analysis paralysis, financial insecurity,
and marketing challenges.
Music.

(16:04):
The beginner, current micro school owner, and the person who is ready to grow
their existing business and mindset.
With micro school masterminds, you'll receive monthly group coaching sessions
with me, Mackenzie Oliver, private support, community access,
and weekly content filled with templates, videos, and printables to help you
with all of your business building tasks.

(16:25):
If you're feeling stuck in a rut, battling time management issues,
needing clarity over your budget or your finances, if you're struggling to hire
the a dream team or craving accountability and inspiration, Microschool Masterminds is your answer.
We've helped hundreds of teachers pave the way to their microschool or homeschool hybrid dream.
We've created 733% of growth in our own microschool.

(16:50):
We're not letting stagnation, overwhelm, or missed opportunities hold you back.
Act now and join Microschool Masterminds to unlock unlock the tools,
the guidance, and the community you need to thrive.
Don't miss out on this chance to transform your educational business and secure your success.
Visit TeachersLetYourLightShine.com slash masterminds to sign up today and lock

(17:13):
in introductory pricing for life.
Again, that's TeachersLetYourLightShine.com slash masterminds.
Music.
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