The Exchanges

Q It does. And, you know, we have people that listen, part of the, people that are part of the top tribe who also are doing physical products And is there, is there one lesson that you could give them from what you learned?

A Um, oh gosh, I have so many lessons. I would say the number one lesson is to be looking at your numbers all the time. I know that's a really scary thing, um, and especially for creative people, they don't, a lot of them don't like to look at numbers, and it took me a long time to train myself to be excited to look at numbers, um, because it's important, you know, your sales numbers are important, your bottom line numbers are important, um, your costs of running your business are Are really important to understand where you are and how successful you truly are, because you could sell a million dollars, but still, you know, not really have a successful business if you're not profiting. So that's really the key.

AI assessment note: “I would say the number one lesson is to be looking at your numbers all the time.”

Q So Tracy, are you talking in terms of literal, like the, the founder's agreement, who owned what equity in that business? Is that what we're talking about?

A No, more like the internal structures. So like, like how to set up systems in the business or how, um, how to be looking at, you know, your monthly cashflow in order to run your business straight, uh, directly from cashflow rather than And, you know, financing your business on credit cards or whatever. So, in a product-based business, there's a lot of, there's so many variables. So, there was all this sort of, like, internal structures of how a business needs to be set up or a product-based business needs to be set up in order for it to succeed and to be able to scale and grow when, um, outside pressures sort of put the, um, come in on it. Does that make sense?

AI assessment note: “No, more like the internal structures. So like, like how to set up systems”