That closet you've been avoiding... it's time.

Let's turn this fear into an asset.

Fear is a door. And on the other side of that door is all the stuff you have been unable to achieve.

One of the best parts of my job is getting to see inside a lot of different businesses.

Given enough time, patterns start to emerge and I try to pay attention to those, not only for understanding what makes clients successful but also for my own business.

Here's one such trend that's hard to see from any perspective other than an accountant:

Founders who see finances as a liability or risk have a ceiling.

Founders who see finances as an asset, do not.

What I mean by that is that finances are something to be managed and mitigated. It's approached defensively or outright avoided the way you would handle something you don't understand, you fear, or that creates anxiety.

It's rarely that explicit, and it's not a literal liability, but it's apparent in their actions: this is something out to get me that needs to be managed.

  • There's little effort or interest in understanding the financials.

  • The focus is on just the basics that avoid trouble (tax) and anything else feels unnecessary.

  • Hours will be spent setting up a new automation, a Notion board, or trying new tools - but the email with this month's financials will sit unopened.

  • As little as possible is invested in it because there is no belief that there could be any return or positive from it - it's only a box to check for compliance.

The other perspective is the opposite. Finance is a tool. The numbers aren't something avoided, they're tracked, they're consulted, and they're valued.

Rather than seeing it as the messy utility closet they avoid, they see it as their tool shed - the first place they go when something needs to be fixed.

  • They track them like you would a scoreboard during the game, constantly glancing up to see where things stand.

  • They proactively look into the numbers for opportunities, not only to avoid trouble.

  • Looking over the financials isn't put off, in fact, they'd like everything to be near real-time if possible.

  • It's one of the most important positions on the team.

If I was investing in founders, this would be one of the most important questions I ask. I would want to understand their relationship to money and finances very clearly.

Maybe you're not all the way in Camp Avoidance, but you know you're not using this asset. Or maybe all you know is somewhere there is fear.

This is a good time to gear up for next year to be different. To change your relationship to money and finances. To understand them at a level where they become one of your favorite tools to reach for.

The most exciting founder I work with is the one who just figured this out. It’s like seeing someone who has been digging holes for months grab the controls of a backhoe.

And on that note, we have a free Tax Workshop to help you feel on top of this up coming tax season.

See you out there.

Chase…who you calling a tool?… Spenst