Steve has had a few weeks trying to implement Getting Things Done and has lots of questions for Tyler, the resident GTD veteran. Capturing actions, weekly reviews, selecting the right ticklers, and the surprising joy of physical file folders for actual pieces of paper. (00:00) - Pilgrimage to the Ramsey studio (03:29) - Initial capturing (07:03) - Unexpected love for the general filing system (11:54) - Capturing actions (17:45) - Weekly review (26:53) - Picking the right contexts (31:22) - "Wait...
Nov 09, 2023•43 min•Ep. 26
In this episode, we acknowledge that maybe we love the word "budgeting" too much and what we really mean is "making better decisions". Allocating resources (time, attention, money, nutrition) are all about scarcity and opportunity costs. It's about defining your values and the results you want, and then making the decisions that will lead you to those outcomes. (00:00) - Roller coaster change management (03:51) - Finite resources (11:54) - Food opportunity costs (14:11) - Steve's PTO budget (18:...
Nov 02, 2023•27 min•Ep. 25
Boredom typically means your brain is telling you something is not sufficiently meaningful or engaging, and once you recognize that you can decide how to deal with it. On this episode, Tyler and Steve discuss the research into various types of boredom and our brain's responses to them. It's about finding meaning, whether you rediscover it or reintroduce it or find it elsewhere. (00:00) - Backwards roller coasters (03:25) - Three types of boredom (09:08) - Boredom provides us information (14:12) ...
Oct 26, 2023•30 min•Ep. 24
The desire to create is a core human impulse. Tyler and Steve talk about things they've created that they're proud of, whether it's a family, a business, an early-2000's blog, or a "failed" project. (00:00) - Plastic bags and double-suspension gallops (05:56) - The desire to create (12:38) - Anyone can create (18:40) - Self as community (22:32) - Trying things that didn't work out (26:34) - Don't let the voice of critics paralyze you Links: "Create" by Dieter Uchtdorf https://www.youtube.com/wat...
Oct 19, 2023•30 min•Ep. 23
Steve describes his process for managing work, and Tyler convinces him to read Getting Things Done. (00:00) - Halloween costume outsourcing (03:19) - What is Steve's process? (11:20) - David Allen's Getting Things Done (14:03) - Tyler's process Links: David Allen's "Getting Things Done" https://www.goodreads.com/book/show/1633.Getting_Things_Done --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylers...
Oct 12, 2023•35 min•Ep. 22
Tyler has a breakthrough in saving for his true expenses, and it's about more than just rearranging the financial deck chairs. What are the benefits of focusing on one goal at a time? Why do high net worth individuals still benefit from budgeting? And why does Steve allocate some of his "fun money" to an emergency fund? (00:00) - Dog talk (03:06) - Too many goals (06:44) - Doubling down on an emergency fund (11:41) - A reverse debt snowball (14:32) - Steve's fun money emergency fund (16:46) - A ...
Oct 05, 2023•20 min•Ep. 21
Steve has repaired a handful of appliances himself, but others he won't touch without hiring a professional. Why the difference, and what is he really trying to buy? Whether it's purchasing parts and watching YouTube videos to do the repairs himself (a little money and a lot of time) or outsourcing to an expert (a little time and a bit more money), sometimes he's buying peace of mind, sometimes hands-on experience, and sometimes convenience. When you consider your clients, what are they really t...
Sep 28, 2023•29 min•Ep. 20
Tyler is a coach, and now he has hired a coach. Steve asks him about how it works, what he's learned, and how it's making him a better coach to his own clients. But first! A brief diversion into dog grooming. 🐶 (00:00) - Steve's dog requires grooming; Tyler's does not (02:14) - Tyler hires a health coach (09:44) - What Tyler (the client) has learned about being Tyler (the coach) (14:46) - Business, executive, and career coaches --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in...
Sep 21, 2023•19 min•Ep. 19
Steve discusses an iPad purchase and its accompanying sheet music adventures. Tyler finds a surprise bank account. An acquaintance buys a house for cheap. Having cash available is doubly beneficial--it protects you from unexpected risks and it lets you take advantage of unexpected lucky opportunities. (00:00) - Esoteric spreadsheets (05:37) - What is optionality? (10:16) - Risk and luck (13:19) - Savings gap (15:33) - Steve buys an iPad for sheet music (19:52) - Tyler squirrels away money so he'...
Aug 31, 2023•28 min•Ep. 18
Steve and Tyler discuss Morgan Housel's 2020 book, "The Psychology of Money". It distills a lot of financial wisdom into an easy-to-read anthology of advice and, especially, cogent explanation. Embrace risk but beware of ruinous risk. Get the goalposts to stop moving. Be wealthy versus rich. Don't let your ego stand in the way of accumulating wealth. (00:00) - Lemonade stands (01:19) - Psychology of Money (06:03) - Experience vs. perception (09:42) - The newness of "retirement" (14:35) - Rich vs...
Aug 24, 2023•37 min•Ep. 17
Should Steve outsource his lawn maintenance? What did Tyler think of hiring house cleaners? And why is that so different from going to a car wash? Today, we talk about outsourcing in business and in life, and the tradeoffs of time and money it entails. (03:44) - Outsourcing in personal life (07:33) - Tyler hires a house cleaner (11:29) - Meal kits (13:22) - Outsourcing as leverage (16:30) - Steve hires a billing platform (17:52) - Steve doesn't hire a lawn company (22:16) - Life is about tradeof...
Aug 17, 2023•28 min•Ep. 16
What characteristics make a good side gig? How do you strike a balance between your day job and your side project? How much is enough? (00:00) - Japanese curry (03:31) - Flexibility (07:32) - Remote work (10:27) - Choose how many clients to take on (13:21) - Low barriers to entry (16:56) - Keeping it intentionally small (20:55) - Low capital investment (25:00) - Skills for your primary career (27:29) - Try it out! --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler...
Aug 10, 2023•30 min•Ep. 15
Today we review that classic personal finance book, Dave Ramsey's Total Money Makeover. Credit cards, sustainable journeys, Murphy repellant, budgeting, and behavior. https://www.goodreads.com/book/show/78427.The_Total_Money_Makeover (00:00) - Credit cards (02:20) - Total Money Makeover (07:02) - 20% knowledge, 80% behavior (12:18) - Making the journey sustainable (17:47) - Emergency funds (21:40) - 12% returns? (24:14) - Living on the financial edge with credit cards (29:05) - Murphy repellant ...
Aug 03, 2023•35 min•Ep. 14
Jeremy Wells, EA, CPA is the owner of JWellsCFO and recently launched a new business called The HVAC CPA focused on the particular needs of HVAC business owners. In this episode, Jeremy talks about his journey into accounting, how he selected this niche, and how he becomes the trusted advisor his clients need. Jeremy Wells, EA, CPA: https://twitter.com/JWellsCFO https://www.jwellscfo.com/ https://thehvaccpa.com/ https://podcasters.spotify.com/pod/show/cpaadvisoryshow (01:11) - Jeremy's path into...
Jul 27, 2023•58 min•Ep. 13
Should you find a niche in your business? When is it too early? How should you figure out the "right" niche? And will Tyler change his mind about it? (00:00) - Recovering grammar nerd (02:54) - Should you even niche? (15:11) - Horizontal vs. vertical niches (17:00) - Steve's current niche (17:55) - Tyler's current niche (22:57) - To niche or not to niche? --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/...
Jul 20, 2023•25 min•Ep. 12
Do the best things in life come from planning or from serendipity? Tyler and Steve explore this question and give some ideas about how to welcome more serendipity into your life. (00:00) - Fitness (02:31) - "Everyone has a plan until they get punched in the face" (04:21) - Spontaneity (07:42) - Building your network (18:17) - Social media (21:01) - Reading books (23:15) - "Successful careers are not planned. They develop." (25:24) - Boredom and creativity Links: Jason Daily: How To Become The Lu...
Jul 13, 2023•29 min•Ep. 11
Tyler mentions it often, and it's high time we had a proper discussion about it. The book is "The Prosperous Coach" by Steve Chandler and Rich Litvin. From getting better at selling to working with extraordinary clients, there's something in this book for every business owner, whether or not you consider yourself a coach per se. (00:00) - Gardening (02:30) - The Prosperous Coach (05:38) - People don't buy hours of coaching (11:38) - Coaching and the business of coaching (17:17) - Talk about your...
Jul 06, 2023•26 min•Ep. 10
What are some good tools if you want to get started keeping the books of your business? Steve and Tyler discuss YNAB and QuickBooks: their strengths and weaknesses, their similarities and differences, and ultimately which one you might want to choose for your business. (00:00) - iOS automations (02:50) - Two bookkeeping tools: YNAB and QBO (05:13) - What is YNAB great at? (09:55) - What is QuickBooks great at? (12:47) - Setting aside money for taxes (16:57) - Equivalent concepts in YNAB and QBO ...
Jun 29, 2023•39 min•Ep. 9
What is bookkeeping? Why do you need it as a small business owner? How do you get started? In this episode, Steve and Tyler dive into these questions and give you practical tips, whether you're just starting out, you are doing the books yourself, or you're ready to hire a bookkeeper. 00:00 Cashflow problems as a factor in business failure 01:35 What is bookkeeping? 07:31 How do you start keeping the books for your business? 11:09 Okay, you have a separate business account. Now what? 14:41 Common...
Jun 22, 2023•26 min•Ep. 8
Once you've found prospective clients, how do you get them to decide to hire you? On this episode, Tyler and Steve discuss two sales techniques and what works and doesn't work about each of them for their particular businesses. 00:00 An embarrassing sales call 02:15 The CLOSER method 09:20 Aspects of the CLOSER method that resonate with Steve and Tyler 13:52 Following up with a prospect after the call 16:51 "Send a gift and a note" 22:18 Tyler tries a CLOSER script 23:26 The "Creating Clients" a...
Jun 15, 2023•43 min•Ep. 7
How do you find clients as a solopreneur running a virtual service business like coaching or tax prep? Tyler and Steve describe many of the things they've tried, as well as which ones actually worked. 00:00 Harrison Ford's job before Star Wars 04:14 Social media marketing 10:26 Paid ads 15:43 SEO and chatGPT 19:54 Networking IRL 23:03 Being a jack-of-all-trades as a solopreneur 25:09 Benefits of having a local network 28:44 Referrals 31:34 Where did Steve's actual clients come from? 34:16 Where ...
Jun 08, 2023•46 min•Ep. 6
Tyler has an epiphany about coaching. We explore his discovery and what it means for how he connects with his clients, whether they need consulting, teaching, or coaching. Things we mentioned: Beginning Balance with Mark Butler and Jesse Mecham The Prosperous Coach by Steve Chandler and Rich Litvin Coach with Tyler --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/...
Jun 01, 2023•37 min•Ep. 5
TurboTax is great for a lot of people, but how do you know when you've outgrown it? Steve and Tyler discuss when it's time to find a good accountant who's worth the price to save your sanity and get your taxes done right. --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/...
May 25, 2023•21 min•Ep. 4
One of the big decisions when you start a business is how to structure the legal entity. Do you need an LLC? What is a DBA? Why do people have S Corps? All those details and more in this episode. --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/...
May 19, 2023•48 min•Ep. 3
Steve Nay interviews co-host Tyler Smith about building a financial coaching practice while pursuing a career as a localization professional. --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/...
May 19, 2023•43 min•Ep. 2
Tyler Smith interviews co-host Steve Nay, a tax professional and owner of Daybreak Tax, about his career in software and building a tax practice that serves small business owners. --- Steve Nay: https://daybreaktax.com/ https://www.linkedin.com/in/nsteven/ Tyler Smith: https://www.tylersmith.io/ https://www.linkedin.com/in/tylersmith-io/...
May 19, 2023•38 min•Ep. 1
This is “It’s Not About The Money,” a podcast for current and aspiring solopreneurs and small business owners. You'll hear stories of building a tax practice and a coaching business. You'll learn a wealth of things business owners need to know: Leadership. Entrepreneurship. Operations. Productivity. How to create clients. And so much more. Join Steve and Tyler on this journey of discovery, and figure out why "it's not about the money!" --- Steve Nay: https://daybreaktax.com/ https://www.linkedin...
May 18, 2023•2 min
