An earthquake had just ripped through my town in California. I watched everything fall apart. My business, my finances, and the deal I thought was going to launch me to the next level. I sold my practice in desperation and ended up getting completely taken advantage of. That moment taught me more lessons in business than any textbook ever could.
Over the next 30 years, I collected dozens more of these real life business lessons—some encouraging, some expensive, all useful. In this episode, I’m sharing the ones that shaped me most, in the hope that they’ll help you make smarter, more confident decisions for your business.
What You’ll Learn…
- What 30 years worth of lessons in business really looks like
- Why core values matter more than you think when selling a business
- How one book helped me shift my mindset and rebuild after a recession
- The one change that transformed how I manage my time and calendar
- Team alignment and culture lessons in business I wish I knew earlier
- How to find the hidden profit leaks that are costing you thousands
- Why mindset shifts are as critical as financial ones in scaling your business
Key Moments…
[0:45] What 30 Years in Business Really Looks Like
[6:15] A Costly Lesson from Selling My First Practice
[12:30] Facing Financial Rock Bottom During the Recession
[18:10] Discovering Profit First and Rebuilding the Business
[24:00] Mindset Shifts That Made the Biggest Difference
[30:20] Team Transitions and Growing the Right Culture
[36:50] Real Profit Leaks I’ve Faced (And Fixed)
What 30 Years in Business Really Looks Like
Real lessons in business don’t come from books—they come from the trenches, from the actual experiences you get into as you try to implement your plan. When I look back over the past three decades, it’s not the perfect years that stand out. It’s the scrappy, soul-searching ones. That’s where the growth lives. I started over at a kitchen table with nothing but a few clients and a whole lot of determination. If you’re in the thick of it, wondering if it’s worth it—hang in there. I promise it can be.
A Costly Lesson from Selling My First Practice
One of the hardest lessons in business I have learned came after selling my California accounting practice following a massive earthquake. The buyer didn’t share my values—and I paid the price. I was young, under pressure, and skipped doing my due diligence on the buyer. I learned that who you do business with matters just as much as the deal itself. Don’t let urgency rush you into regret. I learned that one the hard way.
Facing Financial Rock Bottom During the Recession
During the 2009 recession, I remember sitting in my conference room wondering how I’d make payroll. That was my lowest point. I had no savings, clients were folding, and the value of my office building had tanked. Then I read the book “Three Feet from Gold”—and that one story gave me just enough courage to keep going. Sometimes, the best lessons in business are found in the hardest moments, and often the lesson is – just keep trying!
Discovering Profit First and Rebuilding the Business
That recession made me rethink everything. I knew I couldn’t just keep doing accounting the same old way I had been. It didn’t produce the results I wanted and needed. That’s when I discovered the Profit First system and became a certified tax strategist. Shifting to proactive planning services helped me rebuild and serve clients in ways that actually moved the needle. This pivot brought some of the most valuable lessons in business I’ve ever learned.
Mindset Shifts That Made the Biggest Difference
No matter how great the tool is, it won’t work if your mindset isn’t right. I had to change how I thought about money, leadership, and risk. One of my big breakthroughs came when I realized just being busy didn’t mean I was being profitable. That simple truth is one of the most powerful lessons in business I have gained—work that drives future revenue matters just as much or more than today’s task list.
Team Transitions and Growing the Right Culture
When I started evolving into a coaching firm, my team at the time resisted hard. Some left, others had to be let go. It hurt—but it made space for the right people to come in. Now I’ve got a team that’s energized, aligned, and excited to serve. If your team isn’t growing with you, it might be time to make some tough decisions. That’s another hard lesson in business that was uncomfortable for me to learn, but was so worth it in the end.
Real Profit Leaks I’ve Faced (And Fixed)
I’ve seen profit leak out of my business in more ways than I can count—underpriced work, unused subscriptions, inefficiencies, and team misalignment. But identifying those leaks and plugging them is what turned my business around. This is one of the lessons in business that has become one of my biggest soap boxes. If you’re not watching where your money is going closely, those profit leaks can add up fast.
Diane’s Resources:
Profit Impact Call: https://taxcoach4you.com/profitimpactcall
Profit First Method: https://taxcoach4you.com/profit-first
15 Profit Leaks eBook: https://profitcoach4you.com/profitleaks
Break Even Breakthrough: https://taxcoach4you.com/monthlynut/
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