Episode 14: Learning from your Business Mistakes ft. Angie Oven

“Opportunity cost is one that you can’t get back, right? So, if you’re spending your time on the wrong level of action in your business that’s a problem.

“I’ve done this. Oh, I’ll just figure it out and I’ll do it myself.”

By the time I figure it out and actually get the project done, I probably could have outsourced it for a fraction of the cost”

Andrea Jenson

Welcome to a brand new episode of the Cash Flow CFO Podcast. Joining me today is Angie Oven from the Bridal Gallery, a bridal boutique in Salem, Oregon. Angie also works as a business consultant at the local small business development center and also a co-director at Engaged, where she mentors and educates other wedding boutiques to help them become more profitable.

We’ll talk about Angie’s background in the wedding industry, how she became a wedding advisor, and how working with a CFO allowed her to pursue her other passion projects, such as the coaching and mentoring she offers to other company owners. You may invest in other crucial aspects of your organization by working with a part-time CFO and saving money in the process. Working with a financial expert that can provide data entry, bookkeeping, and CFO services all in one solution is quite advantageous.

In this episode, we’ll talk about how marketing increased and expanded Angie’s revenue as well as the changes she made to the company that has allowed her to keep growing.

Join us to learn the whole story!

“You guys have had the job of keeping me on a budget, and that’s another thing that I’ve really valued. You guys have built out my dashboard.

It’s really easy for me to track and see where I’m at when it’s in black and white. If I am out of money to buy inventory, I am out of money. I’m not going to call and say, I overspent because that would be scary to me. I don’t feel like it’s a parental relationship because we’re partners, but I feel a sense of accountability there that I haven’t had before.”

Angie Oven

Living and Learning in Business

The trial-and-error method of doing business allows business owners to experiment with different tactics, make mistakes, and learn from them. The technique gives you the ability to use errors as stepping stones to grow your company. It also enables you to recognize a plan that is ineffective for your company and discard it. According to Andrea, experiencing life and learning are crucial to success in a company; but, for business owners to truly internalize this lesson, they need to have burned their hands a few times. You must realize that every business concept has potential before you launch your enterprise. It’s normal to discover when starting your business that you don’t know how to accomplish as many things as you believed.

“Live and learn, right? We kind of have to burn our hand on the fire a few times as business owners to really have that lesson ingrained in us.”

Andrea Jenson

Want to get in touch with Angie Oven?