In this episode of Business Inspires, host Brett Johnson and cohost Katie Ellis are joined by Sierra Thomas, the owner of Touché Financial Solutions and the newly appointed Tri-Village Chamber treasurer.

Sierra shares her journey from starting in pre-med to establishing Touché Financial Solutions and empowering others through financial education.

She discusses the importance of a welcoming approach to finance and her goal of remaining small to deliver a personal touch to her services. With her expertise in QuickBooks, she also explores the exciting potential for financial reporting at the chamber.

Demystifying Personal Finance: "Finance in general is just it can be extremely overwhelming. People often run from just understanding their finances and wanting to do better in their finances, whether it's personal or business. So I like to just create that welcoming atmosphere." — Sierra Thomas

Top Takeaways

1. Personal journey: Sierra's journey to establishing Touché Financial Solutions showcases the importance of finding one's true calling and the impact of mentorship in guiding career paths.

2. Importance of adaptability: Sierra's transition from pre-med to accounting highlights the value of being open to exploring new career paths and being adaptable to change.

3. Building a close-knit team: Sierra emphasizes the significance of hiring team members who share the same mission and mindset, indicating the importance of a unified team in delivering exceptional service.

4. Welcoming environment: Creating a welcoming atmosphere in the financial services industry can make a significant difference in alleviating client apprehensions and helping them feel comfortable seeking financial advice.

5. Client-focused approach: Sierra's emphasis on prioritizing the well-being and success of clients sets Touché Financial Solutions apart, highlighting the significance of a client-centered approach in financial services.

6. Continuous learning: The podcast emphasizes the importance of ongoing education and professional development in staying ahead of industry trends and providing innovative solutions to clients.

7. Financial planning misconceptions: Addressing misconceptions such as the idea that financial planning is only for the wealthy or nearing retirement, Sierra stresses the importance of financial planning at every stage of life.

8. Building for impact: Sierra's aspirations for the future of Touché Financial Solutions reflect a desire to remain a smaller firm to maintain a personalized approach while looking to expand services and community partnerships for greater impact.

9. Financial reporting and QuickBooks expertise: Sierra's enthusiasm for utilizing QuickBooks to streamline financial reporting reinforces the pivotal role of technology in facilitating strategic decision-making and business guidance.

Memorable Moments

00:00 College struggle led to mentor, accounting career.

05:48 Building legacy, started freelancing, took leap, successful.

07:38 Touché Financial Solutions offers range of services.

14:09 Prefers small size, aims for greater impact.

15:42 Promoting financial education and collaboration with community.

To run a successful business, you need resources, valuable connections, and community recognition. Business Inspires will provide you with the tools, resources, and examples to inspire you to create the business you envision.

With more than 60 years as an integral part of the Grandview, Upper Arlington, and Marble Cliff communities, the Tri-Village Chamber Partnership is dedicated to a singular purpose - the success of the business community.

Thank you for downloading, listening, and following Business Inspires, a Tri-Village Chamber Partnership podcast.

This season is presented by: 

• City of Upper Arlington.
• Robles Designs
• City of Grandview
• LBB Edutainment

To schedule a guest appearance, or find out more about sponsoring Business Inspires, send an email to:

Katie Ellis, President/CEO, Tri-Village Chamber Partnership

katie@chamberpartnership.org

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Mentioned in this episode:

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TriVillage Chamber Partnership link

Welcome to Business Inspires, where our goal is to inspire you to create the business you envision. I'm Brett Johnson, Tri Village Chamber Partnership board member and the owner of Circle 270 Media Podcast Consultants. Thank you for following and subscribing to the podcast. With me is Katie Ellis, president and CEO of the Tri Village Chamber Partnership and cohost of the podcast. Great to be here with you, Katie.

As always, awesome to be with you guys. And with us today is the owner of Touche Financial Solutions, Sierra Thomas. Thank you so much for being with us today.

Thank you so much for having me. I'm so excited to be here with you both.

And we have something, awesome going on with us because you are now the Tri Village Chamber treasurer. So just as of what was that last Thursday, it was all it was all official at our annual meeting, so we're thrilled to have you a part of everything.

So excited to be a part of the chamber and take on this new role. So excited to see what I can do. I know I have some big shoes to fill, but I'm excited.

Yeah. Well, I love the fact that you have a background in being is it called, like, a certified teacher in QuickBooks? Or what is that title?

Oh, adviser in QuickBooks. Yes.

Okay. Great. So I know that is something that I am not proficient with, so I know that you're gonna just do a a stellar job at helping me get things a a lot more, quick and easy to get things done. So looking forward to that.

For us to work together on that. I know it can be a little tricky. So

Yes. Yes. There are it it is quirky. Just I know pulling things in, if it's not capitalized, it doesn't recognize it. I'm like, really? Come on. But that's okay. We'll get there. So can you tell us just a little bit about the journey that led you to establish Tuohy Financial Solutions?

Yeah. So, actually, it's it was a very interesting journey. I actually started, once I graduated college, I actually started in pre med. My parents, they just wanted me to go to med school. And, you know, organic biochemistry just, you know, just kinda almost took me out, and I was like, this is just this is not for me. I always had the, you know, just the the passion to wanna help people. I just never knew what it was. I just I always, volunteered for things in school and high school, out of school and church.

Always just wanted to, you know, volunteer on different committee on different committees, how I just, you know, just wanted to just kinda figure out how I can help make things better, or how can I just assist in making things better? So, just in college and I just I I was really struggling with, you know, my major. I just didn't I just did it just didn't fit. And so, I had a mentor in college and, you know, she kinda she helped me through through some things, and she was like, you know, you always had that. You always have a good, problem solving back background, and, would you ever wanna look at accounting and explore that, you know, as an, career path? And, you know, I was like, well, maybe maybe so. My grandfather, he had a business while I was growing up, and so I was a secretary. I handled all the money and the books and, you know, I kinda had a little bit of experience, a little sprinkle with Okay. And so, I was like, you know, what, maybe I'll try. So she connected me with a mentor well, one of her friends who was a mentor, an accountant back then, and I just was able to kinda see what they were doing.

And I actually oh, this seems interesting. You know? You can work with numbers, help people, you know, help problem solve, some things, and you're actually helping individuals. You're helping businesses just kinda move forward. And so, just took my, you know, 1st class, in college and then, you know, kind of just maneuver through that career path. While I was in college, I worked, at Walgreens as a manager. And so just kind of integrated some things that I learned in college, you know, with my with my job. And so, I just kinda continued to work and, started to look for a job in accounting, and I went into, public accounting, which was a little it was interesting, long hours. And so, I was just able to kinda build the background with accounting.

I had an awesome, she was also another mentor, but she was the, CFO, so I worked right, you know, directly under her and she taught me so much, as it relate related to, you know, just accounting and just kinda understanding numbers, creating a financial system. The downside for that is, the long hours of work. You know, we were working definitely during tax season, we were working 6 days a week. And some days, you know, I would get a call at 7 o'clock, like, hey. We need to do this report. And it just didn't give me a lot of flexibility. I'm a family oriented person, so I wanted to make sure I I created a a life for myself where I can still enjoy family, but also work at the same time. And I just I mean, I had a background, just from my family experience in entrepreneurship, business ownership.

So I wanted to leave I wanted to be able to leave a legacy for my children one day. So I was like, you know what? Let me just kinda start building a business for myself. So I started doing freelancing work, while I was working in corporate as while I was working in corporate. And then, you know, I did manage the books for, like, my church, smaller businesses who just kinda knew I was an accountant, and, it just kinda the rest was history. I'm from Youngstown, Ohio, so I started that career in Youngstown, and my husband ended up getting a job in Columbus. And so we moved to Columbus about 9 9 years ago, and I just got connected with some awesome people. I did have a job in corporate corporate accounting while I was in Columbus, but I stayed there for about a year, and I just kinda took that leap of faith, jumped out, and now I'm here, 9 years later.

So

yeah. And you have a team now. Right? It's not just yourself?

Not just me. So I was able to build a team. I actually, I shouldn't say this on the podcast. I actually took my she was a assistant that I had, in corporate, and she works for me now, as my financial administrator. So we work really well together, and I was able to build to, hire 2 more, bookkeepers. So I do have a team, a very I mean, we're a small, close knit team, but I do have a team. So that was definitely a good you know, one of those highlights that I was able to kinda do as I grew in my business.

Yeah. Well, that's what you gotta do. You gotta steal people. So what? I mean, you know, that's part that's part of being an entrepreneur. I mean, good grief. You if you find somebody, you gotta make it worth. You gotta bring them bring them along. Exactly.

I love that you have that education, not an education background, but a a a feeling that you want to teach. Because financial is confusing. There are so many options and, if you if you don't go into it with the right attitude as as a client of yours, You know, just to us being general Joe 6 pack kind of people, they could be really overwhelming. And then, I think, that industry needs a lot of people like that. It it should be rich of people educating, letting them know, you know, this is a journey, and these are the best practices of how to, you know, whatever your goal is in in in your world, here's how to do it. You know? And and and take your time with it. So yeah. So Touche Financial Solutions offers a a range of services from financial planning to that, tax prep.

What sets your company apart from other financial service providers in the industry then?

Well, just kinda piggyback on what you're saying. I just like to create, like, a welcoming environment. Finance in general is just it can be extremely overwhelming. People often run from just understanding their finances and wanting to do better in their finances, whether it's personal or business. So I like to just create that welcoming atmosphere. And, you know, I don't like to judge. I I don't judge anyone for, you know, whatever situation that they're in or whatever stage in life that they're in, and just, you know, letting them know, you know, the first step is just kind of understanding and just kinda coming here, meeting with someone so that we can uncover what's going on. So I think just taking that approach has, has set me aside.

But also, we're just we're very close knit. We can we work with large corporations, but we're very close knit. So I work with a lot of CEOs, business owners, and they can call me, they can text me. So I like to create that just that client relationship where, if you're in a if you need, you know, need something right away, email me, call me. If you're in, you know, in a bind and we need to kinda just figure some things out. I like to just be right, you know, be that right hand person. So I believe that sets me apart, and just kinda just focusing on the well-being of the client. Like, how do we how are we gonna make you better? Your success is always my success.

So how can I help you, you know, help you get to the next level? Taking those complex challenges that you may face and just simplifying simplifying them so that you understand. So

Yeah. That's that's a great game plan. I I mean, how do you, as you grow, how do you keep that that idea, that that concept you're running with right now alive? Have you envisioned that? And, you know, if you add 3, 4, 5, a dozen people, how do you keep that 1 on 1 feel that you just described?

Yeah. I think that's always been my struggle. I've always wanted to find the right, you know, the right individuals that have that same mindset, that same mission that want to help and they want to do better. So that is, you know, kind of it's I think hiring is always is always a pitfall and struggle within the company. So I don't like to hire those who are not don't have the same mission. You have to have that caring support. You have to wanna do, you know, want to do well at at what you do, and just being able to be, just committed to the mission. So I think just kinda finding those like minded individuals is very is this what you want to do?

So yeah.

And it seems as though the financial, like, landscape is always evolving. So how is it that you're able to stay ahead of the curve, to provide those innovative innovative solutions that we all need?

Yeah. So I do take some downtime, after, like, the second half of the year. I take some downtime, my team and I, and we focus on education. So continuing education courses, personal development, professional development, just kind of figuring out how you know, what's new, what's up and coming, what do we need to look out for, using technology as a leverage as well, to continue to grow. So we do take some down time to just try to just learn because it's it's an ever evolving, atmosphere, and you always have to stay on top of, stay on top of the new trends. So we do take time to just, kinda, decompress and just learn.

Yeah. So in your experience, what are some common misconceptions people have about financial planning, and and how do you address them?

I think the biggest, one of the biggest things is just they can do it themselves. They don't need help. They can Google everything, and they can figure it out. And while I think you can get to a certain point with that, you always need a trusted adviser, and you need to have a team of advisers. So, I think just understanding, you know, I need to have a investment adviser. I need to work with my banker. I need to work with my accountant because the 3 all work together. They all work together for the greater purpose.

So just taking less control wanting to take less control of your finances by, you know, leaving it to the professionals. But I also hear that, you know, tax not tax planning, just financial planning is just it's for wealthy or it's for the wealthy, individuals or it's for when you're close to retiring. That's not the case. You should at every stage of life, you should do some type of financial planning, whether it's just a simple budget or learning your retire I mean, or investing in retiring retirement, funds and things of that nature.

So you're saying it's really never too late?

It's never too late. K. Never too late. I think I mean, once you once you start working, I think I mean, even when you're 16 or I don't know the age of that, you know, that you can get a job now. But when you're when you first start working, you should sit down with someone and just kinda figure out where you wanna go, in life with your finances.

I love that. I wish I had that

at 16. I wish I knew you at 16.

Oh, I do too. I do too. Those are things that I've learned along the way. Like, wow. If I would have known this years ago, I think I would have been a lot further. But, I mean, those are things that we can learn and pass back to the or pass on to the younger gender generation. So I always stress that.

Right. So then looking ahead, what are your aspirations for

the future for Touche Financial?

I I'm I actually am struggling with that, because what I mean, when I first started out, I wanted to be this, you know, this huge, accounting, the finance firm, servicing, you know, or having different locations all over, but I actually really like the close knit. So I think I wanna remain, remain a little smaller, but because I think I can do more I can do more with remaining smaller. I can have a bigger impact because once you start to have this location and, you know, and maybe another state, then it starts to lose that that personal touch. And I never wanna lose that personal touch. So I think I still I wanna remain small, but I also want to look at other services that I can provide to, you know, business owners, connect with other strategic partners in the community, and see how we can all work together for the greater benefit of businesses.

That sounds good. So are there again, let's go back to your role here with the Tri Village Chamber Partnership. Are there any specific initiatives or project that you're particularly excited about spearheading in your role as treasurer? I know Katie has probably a list of 12. Yes. I do. Because it's fun to have a new you know, it it's not that the the person walking out did not wanna do anything. It comes down to it's always fresh blood, fresh air that's, like, hey, I'm I'm seeing this a little differently,

you

know, to do things. So anything in particular or or things in your mind?

Yeah. Well, nothing specific. I do want to just all just always promote financial education. How could, you know, I help the community, the members, maybe having some financial education courses? I know there's other financial advisors within the community, so maybe I can, you know, team up with them and we can create some initiatives around helping business owners and individuals, with their financial planning and just for, you know, in their in their finances as a whole. And, of course, whatever Katie has for me, I'm always excited to this year.

When you told me that we could build the budget into QuickBooks and then, like, do that month by month to kinda reflect, because I don't know, you know, how many other people there are building budgets, but that it's a daunting thing to do. And then also, how often are we checking this? Like, how often are we on course? So I am so excited to just have that, like, you know, as a very quick, easy way to check-in

so that we can navigate because it I think it's so important to

know those numbers. It either makes you feel, really comfortable in, you know, a certain aspect of things, or it gives you that, that kind of guiding light, like, oh, we really need to pay attention over here now, and it's not something then that we're in shock, as as the year ends. Right?

So I'm really looking forward to to doing that with your QuickBook expertise.

I'm excited about that. I'm all about financial reporting and just knowing where you are you are. It'll definitely help with some strategic decisions that, you know, that you want to make and growth that you want to, you know, that we want to just kinda do as a whole as an organization. So I definitely am excited about that piece of it. So reporting is all me. I love the analytics and the numbers. So I'm I'm very excited to assist with that.

That's great. Good. Good. We needed that jigsaw puzzle piece. And and and it continue to continue on. Definitely. That's for sure. Exactly.

Yeah. Oh my gosh. Well, you know, we always like to end with a a a fun question.

K.

And and this is the fun question for you. So you have a $100,000 that you got from anybody, and and you have to donate or create a charity. What do you do with it?

Well, I would actually can I do both is a question?

Sure. It's your $100,000. You know, it's right there in the QuickBooks. You see it. You get it wherever you wanna do with it.

Yeah. Yeah. So I would do both. I would definitely donate, to some established, charities and organizations. But I would definitely want to create a charity as well. My fam like, my family has had history with cancer. My mom is a breast cancer survivor. My grandmother who, passed away, she passed away 3 years ago from pancreatic cancer, and she's all she was also breast cancer survivor as well.

And so I definitely want to create a charity around that, just to serve women and even men who, you know, have breast cancer or they're diagnosed and just be able to kinda help them in the system during that during that time period. So I that's always that's always always have been on my ray radar, so I definitely wanna create a charity around that.

Good. There's no wrong answer to that question, is there? You know, just like, yes, let's do it. And and in that world, you're right. There's there never seems to be enough help

Right.

Support That just, you know, it's it's such a, cancer is just it just tears everyone apart, whether it's the person affected or the family, and and that support is is never enough. It just never is. Yeah.

Never enough. Definitely wanna create just even you know, just transition, from a family standpoint. It was very difficult, I know, for me to deal with, so just being able to help and provide some services, counseling services for the family Yeah. As well to get through that and to have to help their family member navigate during during those difficult times. Yeah.

Well, thank you so much for taking time out. I know this is such a busy time of year for you, as the 15th April is quickly approaching. So I'm sure people are saying things like, can you can you please file an extension for me? It goes so quick. Yeah. Yeah. But thank you so much for your time, and, we will be having you do a QuickBooks talk with us, like, getting down to some things and doing some q and a. So everyone look for that, in the upcoming months with Sierra, and thank you again.

Yeah. Thank

you so much for having me.

Yeah. Listeners, thank you for joining us, and don't forget to check out our podcast page on the Tri Village Chamber Partnership website. Look for the podcast tab at the top of the homepage, and then, you know, tell us what you think about this or any of our episodes at this email address, info@chamberpartnership.org.