1 00:00:04,200 --> 00:00:08,360 Speaker 1: I got a juicy, juicy question in my Big Business 2 00:00:08,400 --> 00:00:12,120 Speaker 1: podcast Instagram from Aaron, So shout out to you Erin 3 00:00:12,200 --> 00:00:15,800 Speaker 1: if you're listening, I hope you do, and I'm going 4 00:00:15,840 --> 00:00:17,439 Speaker 1: to read it out and I'm going to do my 5 00:00:17,560 --> 00:00:19,000 Speaker 1: best to answer this because it. 6 00:00:19,000 --> 00:00:20,720 Speaker 2: Is actually a really tricky one. 7 00:00:20,920 --> 00:00:22,639 Speaker 1: And by the way, this is a bonus episode of 8 00:00:22,640 --> 00:00:24,800 Speaker 1: Big Business, in case you didn't know, I come out 9 00:00:24,840 --> 00:00:26,400 Speaker 1: with two episodes every week. 10 00:00:26,720 --> 00:00:28,080 Speaker 2: One is my main which are a. 11 00:00:28,080 --> 00:00:30,320 Speaker 1: Little bit longer and a bit more in depth, and 12 00:00:30,360 --> 00:00:32,400 Speaker 1: then we've got the bonuses, which are just more fun. 13 00:00:33,000 --> 00:00:34,960 Speaker 2: So here we go. This is Aaron's DM. 14 00:00:35,440 --> 00:00:38,519 Speaker 1: Hi Brittany love the pod and would love to submit 15 00:00:38,600 --> 00:00:42,720 Speaker 1: a question. As a founder, I've found a tricky navigating 16 00:00:42,840 --> 00:00:48,239 Speaker 1: transparency around revenue with employees. When a team member like 17 00:00:48,360 --> 00:00:52,760 Speaker 1: store managers or senior staff, see sales figures, they often 18 00:00:52,760 --> 00:00:58,000 Speaker 1: assume that high revenue equals high profit and by extension, 19 00:00:58,560 --> 00:01:01,760 Speaker 1: a large personal income for me, which as you know, 20 00:01:02,120 --> 00:01:06,039 Speaker 1: is not the case. This has led to uncomfortable conversations 21 00:01:06,080 --> 00:01:12,080 Speaker 1: where employees reference influencers, spend or marketing budgets to justify 22 00:01:12,280 --> 00:01:16,759 Speaker 1: asking for raisers without understanding the full financial picture. 23 00:01:16,760 --> 00:01:18,039 Speaker 2: Or cost of growth. 24 00:01:18,600 --> 00:01:22,000 Speaker 1: While I'm proud to offer above average pay compared to 25 00:01:22,040 --> 00:01:26,240 Speaker 1: big box retailers, I don't have the same resources. Still, 26 00:01:26,560 --> 00:01:28,959 Speaker 1: once they see the numbers, it's hard for them to 27 00:01:29,120 --> 00:01:32,600 Speaker 1: understand why they're not earning more. Have you ever dealt 28 00:01:32,600 --> 00:01:34,880 Speaker 1: with this any advice on how to handle it with 29 00:01:34,959 --> 00:01:39,400 Speaker 1: clarity and grace? This is actually a great question erin 30 00:01:39,560 --> 00:01:42,440 Speaker 1: and I think it's something that probably a lot of 31 00:01:42,800 --> 00:01:49,400 Speaker 1: smaller but growing business founders will experience. Where your team 32 00:01:49,760 --> 00:01:53,400 Speaker 1: is small enough that they're connected with you and the business, 33 00:01:53,880 --> 00:01:56,520 Speaker 1: but you're like big in terms of you know, maybe 34 00:01:56,680 --> 00:02:00,520 Speaker 1: you've got great sales coming through the door. So that's 35 00:02:00,560 --> 00:02:04,840 Speaker 1: always really tricky to have a smaller ish team or 36 00:02:04,880 --> 00:02:07,760 Speaker 1: a team where you're working super closely with them, but 37 00:02:07,800 --> 00:02:12,160 Speaker 1: then you're having killer sales days, and then perhaps your staff, 38 00:02:12,240 --> 00:02:14,680 Speaker 1: from what I'm assuming, they're feeling like they need to 39 00:02:15,040 --> 00:02:18,240 Speaker 1: know more about the finances of the company. And also 40 00:02:18,480 --> 00:02:20,760 Speaker 1: they're now like saying, I need to be paid more 41 00:02:21,040 --> 00:02:25,120 Speaker 1: because we're making so many sales, and because influencers are 42 00:02:25,120 --> 00:02:29,120 Speaker 1: getting paid so much. It is such a difficult area 43 00:02:29,240 --> 00:02:32,919 Speaker 1: to navigate, and it's such a gray area as well. 44 00:02:34,000 --> 00:02:39,040 Speaker 1: And I can't speak from direct experience, because none of 45 00:02:39,040 --> 00:02:42,799 Speaker 1: my staff have ever brought this to my attention directly, 46 00:02:43,400 --> 00:02:46,240 Speaker 1: so I can't say, yeah, I've had this happen in XYZ, 47 00:02:46,720 --> 00:02:47,960 Speaker 1: but I can only imagine. 48 00:02:48,160 --> 00:02:48,959 Speaker 2: And I have had. 49 00:02:48,840 --> 00:02:52,360 Speaker 1: These thoughts to myself as well with all of our staff, 50 00:02:52,520 --> 00:02:56,760 Speaker 1: especially you know, our head office staff who might like 51 00:02:56,840 --> 00:02:59,680 Speaker 1: work on our website or with influencers, and they're on 52 00:02:59,720 --> 00:03:01,880 Speaker 1: our sho shop of fire and they can see our 53 00:03:01,960 --> 00:03:05,320 Speaker 1: sales figures. I have wondered to myself, if you know 54 00:03:05,560 --> 00:03:07,920 Speaker 1: people on our team or people who have worked with 55 00:03:08,000 --> 00:03:10,880 Speaker 1: us in the past, have they looked at us doing 56 00:03:10,880 --> 00:03:14,800 Speaker 1: a massive sale and like, has their mind immediately gone to, 57 00:03:14,880 --> 00:03:17,960 Speaker 1: oh my god, Britain AJ have got so much money. 58 00:03:18,360 --> 00:03:21,240 Speaker 1: So I totally get where you're coming from and how 59 00:03:21,840 --> 00:03:26,200 Speaker 1: stuck it might make you feel. I think it's important 60 00:03:26,280 --> 00:03:31,560 Speaker 1: to just number one for yourself. Remember that no one 61 00:03:31,680 --> 00:03:34,960 Speaker 1: is owed anything in terms of finances in your business 62 00:03:35,360 --> 00:03:37,520 Speaker 1: if that doesn't fall directly within their role. 63 00:03:38,320 --> 00:03:40,360 Speaker 2: So unless they are the CFO. 64 00:03:40,560 --> 00:03:45,120 Speaker 1: Or your accountant or your book keeper or anyone within 65 00:03:45,160 --> 00:03:47,320 Speaker 1: that side of the business that actually needs to like 66 00:03:47,440 --> 00:03:50,600 Speaker 1: know and fully understand the figures, your staff in your 67 00:03:50,600 --> 00:03:54,680 Speaker 1: retail stores are not owed your bank statement or your profit. 68 00:03:54,400 --> 00:03:55,240 Speaker 2: And lost statement. 69 00:03:55,680 --> 00:03:58,720 Speaker 1: And I know that sounds really harsh, but that's just 70 00:03:59,120 --> 00:04:02,360 Speaker 1: the truth because you're obviously a smaller business and you 71 00:04:02,440 --> 00:04:05,320 Speaker 1: must have like retail stores, if they were working at 72 00:04:05,400 --> 00:04:08,080 Speaker 1: let's say cotton On, for example, they wouldn't be able 73 00:04:08,120 --> 00:04:10,360 Speaker 1: to go to the owner of cotton On and say, hey, like, 74 00:04:10,400 --> 00:04:12,560 Speaker 1: I saw you working with this influencer and they're getting 75 00:04:12,560 --> 00:04:15,000 Speaker 1: paid a lot, or hey, we had a Black Friday 76 00:04:15,000 --> 00:04:17,960 Speaker 1: sale that was really successful in store. I think I 77 00:04:18,040 --> 00:04:21,120 Speaker 1: need to have more money or know more about how 78 00:04:21,200 --> 00:04:23,240 Speaker 1: much money you have. And I just think this is 79 00:04:23,240 --> 00:04:27,240 Speaker 1: where it's so tricky for owners to navigate the difference 80 00:04:27,279 --> 00:04:30,560 Speaker 1: between being a massive corporation and having that kind of 81 00:04:30,600 --> 00:04:34,000 Speaker 1: smaller team that do feel like they are owed information 82 00:04:34,320 --> 00:04:37,560 Speaker 1: or explanation in areas of the business that are just 83 00:04:37,960 --> 00:04:41,680 Speaker 1: not part of their role whatsoever. And I think there's 84 00:04:41,720 --> 00:04:45,200 Speaker 1: a few ways that you can tackle having these types 85 00:04:45,279 --> 00:04:48,360 Speaker 1: of conversations. But I think the first most important thing 86 00:04:48,800 --> 00:04:50,920 Speaker 1: is that you as an owner, you don't need to 87 00:04:50,960 --> 00:04:54,200 Speaker 1: share everything. And I think that sometimes people can confuse 88 00:04:54,320 --> 00:04:59,880 Speaker 1: transparency with full access because they're like two completely different things. 89 00:05:00,200 --> 00:05:02,200 Speaker 1: And I think what you can do is just find 90 00:05:02,360 --> 00:05:06,479 Speaker 1: a middle ground. So, for example, you could explain the 91 00:05:06,600 --> 00:05:10,880 Speaker 1: types of costs the business carries without like disclosing your 92 00:05:10,920 --> 00:05:14,440 Speaker 1: full profit and loss statement with whatever staff member that 93 00:05:14,520 --> 00:05:17,200 Speaker 1: is coming to you about it. For example, you could 94 00:05:17,200 --> 00:05:20,200 Speaker 1: say something along the lines of and you can use 95 00:05:20,240 --> 00:05:23,120 Speaker 1: like exact stats from your business, but you can say, 96 00:05:23,360 --> 00:05:26,400 Speaker 1: in our biggest month last year when we did XYZ, 97 00:05:26,839 --> 00:05:30,719 Speaker 1: after paying for stock and freight and wages, marketing, rent, 98 00:05:30,760 --> 00:05:34,680 Speaker 1: and tax, the business still wasn't profitable. You know, you 99 00:05:34,760 --> 00:05:36,240 Speaker 1: might be able to find a month that you can 100 00:05:36,320 --> 00:05:39,480 Speaker 1: use as a reference, just to give them a bit 101 00:05:39,520 --> 00:05:42,960 Speaker 1: of a different perspective. It's just so difficult, Like I'm 102 00:05:42,960 --> 00:05:45,400 Speaker 1: even struggling to answer this when it comes to them, 103 00:05:45,440 --> 00:05:47,960 Speaker 1: Like talking about your influencer budget and stuff. You could 104 00:05:48,000 --> 00:05:51,799 Speaker 1: say that we've tested and proven that it drives revenue, 105 00:05:51,800 --> 00:05:55,159 Speaker 1: which in turn keeps the business growing and keeps the 106 00:05:55,240 --> 00:05:56,240 Speaker 1: team employed. 107 00:05:56,480 --> 00:05:58,480 Speaker 2: I know it would be really difficult for staff. 108 00:05:58,600 --> 00:06:01,560 Speaker 1: Let's say it's staff that are managed influencers directly, and 109 00:06:01,560 --> 00:06:04,839 Speaker 1: they're seeing how much these influencers get paid and comparing 110 00:06:04,880 --> 00:06:06,120 Speaker 1: it to their wage. 111 00:06:06,640 --> 00:06:09,200 Speaker 2: It's only understandable. 112 00:06:08,520 --> 00:06:11,479 Speaker 1: And fair that they'd be seeing what influencers get paid 113 00:06:11,480 --> 00:06:14,000 Speaker 1: and they'd be gone, Holy shit, These influencers get so 114 00:06:14,120 --> 00:06:18,440 Speaker 1: much money. But again, you're not giving that influencer money 115 00:06:18,560 --> 00:06:22,600 Speaker 1: to personally give them a gift, like you know, it's 116 00:06:22,600 --> 00:06:25,479 Speaker 1: a business transaction, and you're only going to hope that 117 00:06:25,600 --> 00:06:28,080 Speaker 1: by putting out, let's say, five thousand dollars in your 118 00:06:28,160 --> 00:06:31,039 Speaker 1: marketing budget for influences, you're going to get back at 119 00:06:31,120 --> 00:06:33,479 Speaker 1: least double like you're going to get back ten thousand 120 00:06:33,600 --> 00:06:37,040 Speaker 1: or fifteen thousand. And I think we can educate our teams, 121 00:06:37,520 --> 00:06:40,040 Speaker 1: you know, in this type of way without needing to 122 00:06:40,080 --> 00:06:45,800 Speaker 1: go into absolute specifics like staff in general, it isn't 123 00:06:45,800 --> 00:06:50,560 Speaker 1: their responsibility to understand just how much it costs to 124 00:06:50,680 --> 00:06:53,400 Speaker 1: run a business, and you and I and all founders 125 00:06:53,680 --> 00:06:56,320 Speaker 1: know that for sure. But I think we can use 126 00:06:57,560 --> 00:07:01,039 Speaker 1: the business's gross to educate our team on how we're 127 00:07:01,080 --> 00:07:04,680 Speaker 1: building a bigger future for our brands. I know, for 128 00:07:04,839 --> 00:07:08,240 Speaker 1: us like AJ and I put all of the money 129 00:07:08,279 --> 00:07:11,680 Speaker 1: that makes back into it and the reason why we 130 00:07:11,720 --> 00:07:14,440 Speaker 1: do that is so that we can create a bigger 131 00:07:14,600 --> 00:07:18,640 Speaker 1: and better brand, and in turn that also creates a 132 00:07:18,760 --> 00:07:22,360 Speaker 1: bigger and better workplace. You know, if we were to 133 00:07:22,400 --> 00:07:25,400 Speaker 1: just be doing all these big sales days and months 134 00:07:25,440 --> 00:07:28,400 Speaker 1: and quarters and whatever, and then we were pocketing at all, 135 00:07:28,800 --> 00:07:33,560 Speaker 1: we wouldn't be able to do anything cool in the future, 136 00:07:34,280 --> 00:07:37,440 Speaker 1: whether that's like company wide bonuses, I don't know, like 137 00:07:37,880 --> 00:07:43,240 Speaker 1: fun group activities, team dinners, budgets for team breakfasts in 138 00:07:43,280 --> 00:07:46,000 Speaker 1: the office, whatever it may be. So I think we 139 00:07:46,080 --> 00:07:49,559 Speaker 1: can kind of educate our teams that from the top down, 140 00:07:49,720 --> 00:07:52,360 Speaker 1: all this money that you're seeing is kind of getting 141 00:07:52,360 --> 00:07:55,800 Speaker 1: put back into the business to trickle through every area 142 00:07:55,840 --> 00:07:58,800 Speaker 1: of the business, and over time it's going to mean 143 00:07:58,920 --> 00:08:02,480 Speaker 1: more perks for you because employees will have the mindset 144 00:08:02,520 --> 00:08:04,720 Speaker 1: of all what's in it for me, which is one 145 00:08:04,760 --> 00:08:07,240 Speaker 1: hundred percent the right kind of mind frame for them 146 00:08:07,280 --> 00:08:09,160 Speaker 1: to have, like what's in all this for me? But 147 00:08:09,240 --> 00:08:11,520 Speaker 1: at the same time, where do you draw the line 148 00:08:11,640 --> 00:08:14,640 Speaker 1: with what they need to know versus what they don't 149 00:08:14,680 --> 00:08:17,360 Speaker 1: need to know? And again, I think that's just something 150 00:08:17,400 --> 00:08:20,920 Speaker 1: that a lot of us, like small business owners in 151 00:08:21,000 --> 00:08:23,600 Speaker 1: quotation marks because obviously my business is a lot bigger now, 152 00:08:23,680 --> 00:08:25,600 Speaker 1: but when you are in that smaller team dynamic, you 153 00:08:25,640 --> 00:08:28,480 Speaker 1: are going to have people potentially asking you these types 154 00:08:28,520 --> 00:08:30,800 Speaker 1: of questions or saying, hey, I noticed that we spend 155 00:08:30,840 --> 00:08:33,920 Speaker 1: ten thousand dollars on influenceers this month. You know, can 156 00:08:33,960 --> 00:08:36,640 Speaker 1: you pay me ten thousand dollars? I mean that's a 157 00:08:36,640 --> 00:08:41,320 Speaker 1: bit extreme, but you know what I mean. It's just 158 00:08:41,360 --> 00:08:43,760 Speaker 1: something that comes with being a smaller business where we're 159 00:08:43,840 --> 00:08:48,040 Speaker 1: working so closely with our teams. And it's tricky because 160 00:08:48,200 --> 00:08:50,640 Speaker 1: you know, you'd want to just say, well, if you 161 00:08:50,720 --> 00:08:52,920 Speaker 1: worked at cotton On like you wouldn't know any of 162 00:08:52,960 --> 00:08:55,040 Speaker 1: this stuff, but obviously you don't want to say that 163 00:08:55,080 --> 00:09:01,960 Speaker 1: and come across in the complete wrong way. Anyone who 164 00:09:02,000 --> 00:09:05,760 Speaker 1: wants to work for like a smaller business will understand 165 00:09:05,880 --> 00:09:08,480 Speaker 1: that it is a lot different to working for like 166 00:09:08,520 --> 00:09:11,960 Speaker 1: a major corporation, and maybe you will have more access 167 00:09:12,000 --> 00:09:16,080 Speaker 1: to seeing things like sales figures and doing a huge 168 00:09:16,120 --> 00:09:18,320 Speaker 1: sale and seeing all the money coming in. And I 169 00:09:18,360 --> 00:09:21,120 Speaker 1: think I would hope to give people the benefit of 170 00:09:21,160 --> 00:09:25,079 Speaker 1: the doubt that they know us as owners and know 171 00:09:25,200 --> 00:09:29,079 Speaker 1: that it's it's not cheap to run a business. And 172 00:09:29,640 --> 00:09:32,040 Speaker 1: I guess if any of my staff were to ever 173 00:09:32,080 --> 00:09:34,360 Speaker 1: feel the way that your staff are feeling and coming 174 00:09:34,400 --> 00:09:39,320 Speaker 1: to you, I hope that they would know that it's 175 00:09:39,360 --> 00:09:43,720 Speaker 1: within my best interest to continue funding the business through 176 00:09:44,000 --> 00:09:46,840 Speaker 1: the sales that it's making itself to build a better 177 00:09:46,880 --> 00:09:49,640 Speaker 1: future for all of us involved a fate. 178 00:09:50,280 --> 00:09:52,040 Speaker 2: But you know, I mean there's some owners out there. 179 00:09:51,920 --> 00:09:54,280 Speaker 1: That probably are lining their pockets with all the profits, 180 00:09:54,920 --> 00:09:56,360 Speaker 1: but I can't speak to that. 181 00:09:57,040 --> 00:09:58,640 Speaker 2: And if anyone. 182 00:09:58,280 --> 00:10:01,720 Speaker 1: Out there, you know, was to say, like, oh, you know, 183 00:10:02,800 --> 00:10:05,360 Speaker 1: my boss, like whether it's me or you, that they 184 00:10:05,440 --> 00:10:08,000 Speaker 1: just make all these sales and millions of dollars in 185 00:10:08,080 --> 00:10:11,199 Speaker 1: sales and they just keep it all for themselves and 186 00:10:11,240 --> 00:10:16,160 Speaker 1: it's just so low cost to run. Like to that, 187 00:10:16,200 --> 00:10:18,520 Speaker 1: I would say, like, I fucking wish, like I wish 188 00:10:18,520 --> 00:10:22,520 Speaker 1: the business was one hundred percent profit and no costs. 189 00:10:22,960 --> 00:10:26,000 Speaker 1: But as owners, like we know that is so far 190 00:10:26,040 --> 00:10:29,200 Speaker 1: from the truth. Running a business is the most expensive 191 00:10:29,200 --> 00:10:31,199 Speaker 1: thing you'll do. I think actually a lot of people 192 00:10:31,280 --> 00:10:36,200 Speaker 1: can be misconstrued. Is that the word misconstrued? 193 00:10:36,480 --> 00:10:37,480 Speaker 2: Is that even a word. 194 00:10:37,760 --> 00:10:39,679 Speaker 1: I don't know what I'm even saying, but I think 195 00:10:39,679 --> 00:10:42,160 Speaker 1: a lot of people can have a false idea when 196 00:10:42,160 --> 00:10:45,400 Speaker 1: it comes to starting a business, and they might, you know, 197 00:10:45,480 --> 00:10:50,040 Speaker 1: because of social media, think oh this is going to 198 00:10:50,080 --> 00:10:51,760 Speaker 1: be great, like I'm going to make all the money 199 00:10:51,760 --> 00:10:52,439 Speaker 1: for myself. 200 00:10:52,920 --> 00:10:54,160 Speaker 2: But especially when you're. 201 00:10:54,120 --> 00:10:57,080 Speaker 1: Very first starting out, especially if you're you know, working 202 00:10:57,080 --> 00:10:58,959 Speaker 1: full time and starting a business on the side. 203 00:10:59,440 --> 00:11:02,679 Speaker 2: That's the broke brocused poorest. 204 00:11:03,360 --> 00:11:05,680 Speaker 1: That's the least amount of money that you're ever gonna 205 00:11:05,720 --> 00:11:08,480 Speaker 1: have ever because you're just putting it, every single dollar 206 00:11:08,720 --> 00:11:11,160 Speaker 1: back into the business. And it takes so long to 207 00:11:11,200 --> 00:11:13,360 Speaker 1: get to the business, to get the business to the 208 00:11:13,360 --> 00:11:16,200 Speaker 1: point of being profitable. And even then when it gets 209 00:11:16,200 --> 00:11:19,760 Speaker 1: to that point of being profitable, you don't just automatically 210 00:11:19,800 --> 00:11:22,200 Speaker 1: get the money. And a lot of people like don't 211 00:11:22,280 --> 00:11:25,600 Speaker 1: understand that. And that's fine, especially if no one else 212 00:11:25,600 --> 00:11:28,680 Speaker 1: has owned a business. But you know, once a business 213 00:11:28,679 --> 00:11:32,680 Speaker 1: gets to the stage of having profitability, you then you 214 00:11:32,720 --> 00:11:35,160 Speaker 1: don't just pocket it all. I mean you can or 215 00:11:35,200 --> 00:11:37,560 Speaker 1: you can you know, be like AJ and I where 216 00:11:37,559 --> 00:11:39,080 Speaker 1: we go nop. We're going to take that money and 217 00:11:39,080 --> 00:11:40,559 Speaker 1: put it back into the business. We're going to pay 218 00:11:40,559 --> 00:11:43,520 Speaker 1: more influencers. I'm gonna up my ad spend, I'm gonna 219 00:11:43,559 --> 00:11:45,760 Speaker 1: invest in more stock, I'm going to open another store. 220 00:11:46,520 --> 00:11:48,720 Speaker 1: You know, That's what I've done with all the profits 221 00:11:48,720 --> 00:11:51,559 Speaker 1: that Fate has ever made. But to sum it up, 222 00:11:51,640 --> 00:11:55,240 Speaker 1: I think, as always, it's important to stay grounded in 223 00:11:55,280 --> 00:11:58,600 Speaker 1: your confidence as an owner and a leader and not 224 00:11:58,880 --> 00:12:03,280 Speaker 1: in defense. The hardest thing is like not sounding guilty 225 00:12:03,480 --> 00:12:07,400 Speaker 1: or apologetic when you say no. And as owners, we 226 00:12:07,440 --> 00:12:12,800 Speaker 1: can acknowledge requests respectfully while still holding your boundary. For example, 227 00:12:12,920 --> 00:12:15,920 Speaker 1: I absolutely see your value and I hear you, but 228 00:12:16,120 --> 00:12:19,480 Speaker 1: right now we're reinvesting heavily to keep the business stable 229 00:12:19,480 --> 00:12:22,360 Speaker 1: and growing, which is how we've been able to create 230 00:12:22,440 --> 00:12:25,520 Speaker 1: great roles like yours. And then you could say, you know, 231 00:12:25,679 --> 00:12:28,120 Speaker 1: I'm committed to reviewing this again in a certain amount 232 00:12:28,120 --> 00:12:30,200 Speaker 1: of months. If someone is coming to you and saying, hey, 233 00:12:30,240 --> 00:12:32,440 Speaker 1: I saw that we're making lots of sales, you know, 234 00:12:32,720 --> 00:12:35,240 Speaker 1: can I can I have a pay increase or a 235 00:12:35,240 --> 00:12:38,240 Speaker 1: promotion or whatever it is. And I think, lastly, it's 236 00:12:38,280 --> 00:12:41,160 Speaker 1: just important to remember, like I said earlier, you don't 237 00:12:41,280 --> 00:12:45,400 Speaker 1: owe anyone your bank statements, just your leadership, and I 238 00:12:45,400 --> 00:12:48,040 Speaker 1: think that's really important to remember. And the fact that 239 00:12:48,400 --> 00:12:51,800 Speaker 1: you are thinking so deeply about how to handle this 240 00:12:51,920 --> 00:12:54,720 Speaker 1: fairly when your staff are coming to you, it tells 241 00:12:54,760 --> 00:12:59,000 Speaker 1: me that you're already doing a brilliant job. And I 242 00:12:59,000 --> 00:13:00,920 Speaker 1: think if you just keep going with it, because you 243 00:13:00,960 --> 00:13:03,520 Speaker 1: know what, I think there's a lot of big, big, 244 00:13:03,559 --> 00:13:06,720 Speaker 1: big business owners out there who would have their staff 245 00:13:06,720 --> 00:13:09,040 Speaker 1: come to them and say, hey, I noticed on shopify 246 00:13:09,120 --> 00:13:12,080 Speaker 1: that our sales are really high or our daily sales 247 00:13:12,080 --> 00:13:14,920 Speaker 1: in stores are going great, and they would just probably say, 248 00:13:15,080 --> 00:13:18,600 Speaker 1: and what's that got to do with you? So the 249 00:13:18,600 --> 00:13:22,839 Speaker 1: fact that you're even thinking about this and actively messaging 250 00:13:22,880 --> 00:13:25,640 Speaker 1: me to get advice about how you could best handle this, 251 00:13:25,679 --> 00:13:28,040 Speaker 1: I think it says a lot about you as a founder. 252 00:13:28,720 --> 00:13:33,120 Speaker 1: But hate anyone out there that does have a job 253 00:13:33,280 --> 00:13:35,840 Speaker 1: with a smaller ish business or a business that's like 254 00:13:35,960 --> 00:13:40,200 Speaker 1: doing really well, but it's like solo founder owned. You 255 00:13:40,240 --> 00:13:42,760 Speaker 1: can take it from me. It is so expensive to 256 00:13:42,840 --> 00:13:46,320 Speaker 1: run a business, even if you're making massive sales. If anything, 257 00:13:46,600 --> 00:13:49,679 Speaker 1: the more sales you're making, the more the business is costing. 258 00:13:50,040 --> 00:13:52,600 Speaker 1: Because that's what I've learned with Fate anyway. The bigger 259 00:13:52,640 --> 00:13:55,320 Speaker 1: and bigger that we've gotten and the higher and higher 260 00:13:55,360 --> 00:13:58,679 Speaker 1: our revenue is, the higher and higher the costs are, 261 00:13:58,960 --> 00:14:01,600 Speaker 1: the higher and higher, the tax bills are, the higher 262 00:14:01,640 --> 00:14:05,480 Speaker 1: and higher, the bas bills are, the higher and higher 263 00:14:05,840 --> 00:14:08,760 Speaker 1: the pays are every week. Like the bigger a business gets, 264 00:14:08,800 --> 00:14:12,960 Speaker 1: really the more expensive it becomes. But my account and says, 265 00:14:12,960 --> 00:14:16,360 Speaker 1: if your tax bills getting bigger, you must be doing 266 00:14:16,400 --> 00:14:17,080 Speaker 1: something right. 267 00:14:17,640 --> 00:14:18,720 Speaker 2: So thank you so much. 268 00:14:18,679 --> 00:14:22,440 Speaker 1: Erin for sending in your question on I'm just checking, 269 00:14:22,560 --> 00:14:25,000 Speaker 1: was it? Yeah, it was Erin, And if anyone else 270 00:14:25,080 --> 00:14:29,120 Speaker 1: has a question for me and Xander producer x feel 271 00:14:29,120 --> 00:14:31,160 Speaker 1: free to send us a DM on the Big Business 272 00:14:31,200 --> 00:14:33,840 Speaker 1: Podcast Instagram account that is where we get all of 273 00:14:33,880 --> 00:14:36,800 Speaker 1: your dms. That account is managed by Xander, April and 274 00:14:36,840 --> 00:14:38,920 Speaker 1: myself and we check it every day and we have 275 00:14:39,040 --> 00:14:42,800 Speaker 1: like a massive shared board where we dump everyone's dms. 276 00:14:43,120 --> 00:14:47,240 Speaker 1: And so I've literally got so many dms right hits, actually, 277 00:14:47,520 --> 00:14:50,880 Speaker 1: so so, so, so so many, like a million bonus 278 00:14:51,240 --> 00:14:54,440 Speaker 1: last week getting back to everyone's questions in episodes because 279 00:14:54,440 --> 00:14:56,080 Speaker 1: you're giving me content at the end of the day. 280 00:14:56,640 --> 00:14:58,400 Speaker 1: But that's all for now, friends, and I'll be back 281 00:14:58,440 --> 00:15:09,000 Speaker 1: next week with my main episode.