Episode Transcript
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Speaker 1 (00:00):
I know sometimes when
we think back like.
There's a way to measure itright.
You measure the risk, youmeasure the decision.
Is this a responsible decision?
Is this a reckless decision?
Is this going to serve my ends,my family, my mortgage, my
credit cards, whatever?
But there's always a componentthat is emotional, I think that
for most people kind of drivesyou over the edge into
committing to entrepreneurialism.
(00:21):
Welcome to the Total Sum Gamepodcast today, where we're
talking about the emotionaldrive into entrepreneurialism.
Welcome to the Total Sum Gamepodcast today, where we're
talking about the emotionaldrive into entrepreneurialism.
And who better than the mostbeautiful woman in the entire
world, successful entrepreneur,incredible business mind?
She happens to be my wife,michelle is here to join me to
talk about this.
Speaker 2 (00:41):
I think you're a
little biased.
Speaker 1 (00:42):
I'm not biased at all
, I only tell the truth.
That's all I do.
So today we're doing things alittle bit different.
We want to bring you somethingwith a little bit of insight
outside of just AI.
It's obviously our favoritetopic, it's a huge part of TSG
operations, but, as my wife andI are together today, we want to
talk a little bit more outsideof that envelope about
entrepreneurship.
(01:04):
Michelle and I have literallybeen working next to each other,
shoulder to shoulder, side byside, every day.
Now for what?
Six years, seven years,actually.
That's how we met, as most ofyou guys know.
So, anyway, nothing better, nobetter person to seek for wisdom
than her here and her and Itogether to talk through this,
because it's a huge part rightEntrepreneurship it's numbers,
(01:26):
it's accounts, payables,receivables, balance sheets,
p&ls, it's taxes and all the funstuff that we get into on
operations and everything elsewe have to do to make a business
come together, start it andmake it successful.
But there's an element thatbinds all those processes, all
those steps together.
It starts with the dream, goesall the way into fruition, and
(01:47):
that's the emotional drivebehind it.
Everybody has something.
I don't care how rigid theyclaim to be, everybody has an
emotional driving force,something that touches deep
inside your heart.
So that's what we're here totalk about today.
Obviously, I have one, andshe's sitting right next to me.
She is my partner in life andin this family, and that is the
(02:08):
most important thing in myentire life.
So it's hard not to beemotional, but she'll do a much
better job than I assure youthroughout this podcast today.
So what we're going to talkabout, michelle, is the spark of
entrepreneurship, love to hearabout a time in your life, what
(02:30):
started like, what got you downthe path, the idea.
There's an impetus, but there'sa driving emotional force
behind starting an accountingfirm.
Ironically, I don't know whatthat is for you.
Speaker 2 (02:43):
So what lit the fire
for me for starting my own
business back in 2009 wasgetting fired.
I mean, that's really what kindof sparked for me the idea that
I had to figure out what to donext.
My parents owned a business,and so I grew up in that
(03:06):
environment.
I knew what it took to start abusiness and and run a business,
and and for me, it wasn'treally hard to know that that's
the next thing I wanted to do,but it was scary.
It was scary to think about.
I could go get a job and figureout you know what to do there,
and that was kind of the easypart.
I had a lot of really greatexperience the opportunity that
(03:39):
I had right now, standing at thecrossroads, of saying, okay,
right now I could go start myown business, which is risky.
I don't know how long it'sgoing to take to make money.
It could be months, it could beyears, or maybe I'll fail.
My plan B was well, just goback to work.
I'll have a great salary, andI'll never again have the
opportunity unless I get firedagain that I have right now of
(04:02):
of choosing to go down this roadbecause I'd be too afraid to
quit a job and not have a salary.
So that was really what lit thethe fire under me, that you
know.
I had two roads and a choice tomake, and one which I felt was
really risky.
Speaker 1 (04:17):
I know sometimes when
we think back, there's a way to
measure it right.
You measure the risk, youmeasure the decision.
Is this a responsible decision?
Is this a reckless decision?
Is this going to serve my ends,my family, my mortgage, my
credit cards, whatever?
But there's always a componentthat is emotional, I think that
for most people kind of drivesyou over the edge into
(04:37):
committing to entrepreneurialism.
Right, and I know for me, as anexample, the idea that when I
have a job, my future is more orless laid out.
If I do a good job, right, andI can't stand that, Like I'd
rather have my hands tied behindmy back, shoved in a pine box
and buried alive, versus if I'man entrepreneur, every single
(04:59):
day is an opportunity andthere's freedom in that.
Right.
Like, I can do anything that Iwant to.
I can run this business acertain way, a different way,
close it, do something else, theworld is kind of your oyster.
Speaker 2 (05:10):
Yeah, and that was
one of the reasons why I chose
to do that, because I wentthrough all of those kind of
thought processes of thinkingwhat are the pros and cons?
And for me it was at the time Ihad two little kids and I knew
that I could work half the timeand make the same amount of
money.
I was in the job I was in, sothat was kind of first thought
(05:33):
that would give me more time tobe a mom and to be able to take
care of my family.
But then the next, the nextthought that I had, which is
exactly what you're saying, isthat when you start a business,
your future is unlimited.
When you're working for someoneelse, your future is dependent
on how much they pay you and andit's always a risk that's never
(05:55):
something that's for sure.
You could get fired, let go,the company could go under at
any time, and so, although itseems less risky, it never is.
And so when you start your ownbusiness, you're in control of
your destiny, and that's what'scompletely different about being
an entrepreneur versus being anemployee.
Speaker 1 (06:17):
There's something we
kind of skipped over.
You said talking about havingtwo little kids, who, of course,
we know very well these daysNate and Bailey.
So that's a calculation.
I have two kids.
If I stay at home, I can.
It's more efficient.
But there's an emotionalcomponent to that.
There's something else as a mom, right, that you want to do,
that you want that drives youinto that decision, that gives
(06:38):
it weight, right?
There's a calculation to it.
Yes, it makes me more efficient, I can be around my kids, I'm
more available, so on and soforth.
But there's, it takes more thanthat to make a decision where
you're going to take the risk ofheading out on your own.
So you can have that.
Speaker 2 (06:52):
For me, it was not
just making it more efficient.
I wanted to be able to spendmore time with my kids.
I didn't want my kids to beraised by someone else and me
not be there.
I wanted to be more of a partof their lives, and so that was
a really huge part, and,ultimately, what it ended up
with.
After I started Mergex andstarted this online accounting
(07:15):
firm in a time where there wasno online accounting firms is, I
looked to hire other women thatwere in the same position as I
was to be able to allow them tohave the same opportunity to be
able to work from home and stillbe a mom and take care of their
kids, but yet still have acareer which we don't get to do
a lot.
Speaker 1 (07:34):
Yeah right,
leadership starts with
vulnerability.
Vulnerability starts with theneed to contribute to others.
Have something there that youoffer that is unique to you, to
your business, to what you'retrying to do.
So other people are drawn tothat, and the motivation for
them to be drawn is that theyget something of value out of it
uniquely from you than anywhereelse that they can go, and I
(07:56):
think that's very, very powerfulwhen you're talking about
people again, numbers, pnls, allthat stuff but there's this
bond that has to happen in, inin varying degrees of depth,
with the people that work foryou and you to to get their
loyalty, their buy-in, uh, andto ensure too, like we talk
about here, that there'smutually both parties mutually
(08:21):
benefit from the, from beingthere, whether it's the employee
or a business owner, whateverit is that those people get
something outside above andbeyond a paycheck.
Speaker 2 (08:31):
Yeah, and that's
that's why, when I started the
company, of course the peoplewere really important to me, but
that was always part of ourculture too not just the people
that we worked together and wecreated that culture of kind of
taking care of each other andmaking sure everyone kind of had
what they needed.
But that was also really whatdrove the work that we did Like
(08:54):
we were a different kind of anaccounting firm than any other
accounting firm out there, andthat was always part of just who
I was and wanting to servepeople.
And it wasn't just aboutnumbers, it was something that,
every time we hired someone elseand brought them into our team,
is to really help them tounderstand that, when you are in
charge of taking care of abusiness's finances, that is
(09:19):
what is so important to them,because their business is their
life and so their numbers meaneverything to them, whether
they're making money or notmaking money.
For us to be able to take careof that for them and something
that's so personal to mostpeople their finances and to be
able to provide them with theinformation that they need
(09:40):
that's what's going to movetheir life forward and that's
what's going to give them peace,to be able to sleep at night
because they know that this partof their business is taken care
of.
So we always came about thatfrom the perspective of this
isn't just about some numbersand printing out a P&L and
sending it to the client.
It's really about this is theirlife.
(10:03):
Your business is yourlivelihood.
It funds everything, itprovides for your family.
It's your future.
And when you look at the thingsthat you're doing for someone
as a service, as really justhelping them have a better life,
it becomes much more rewarding.
I think that's reallyultimately, with TSG.
What we're doing here is that'swhere that because you and I
(10:23):
are both the same like reallywanting to serve people that's
where what we're doing reallycomes from, that drive and that
desire to really be able toserve people in that way.
Speaker 1 (10:36):
Well, it's the
ultimate payback Again, dollars
and cents.
I get it and it's important.
It's critical.
Businesses need income tooperate.
We need profit so that we canpull money from those companies,
support our families and do allthe things that we do for
ourselves and the people aroundus.