Smart Financial Moves to Protect and Grow Your Online Program with Gala McCray

When it comes to building, launching, and growing online courses or memberships, most business owners focus on strategy, marketing, and audience-building—but too many skip over one of the most essential pillars of success: their numbers.

In this episode, I’m joined by Gala McCray, founder of Two Arrows, a boutique financial consultancy that provides high-touch bookkeeping and strategic financial guidance for service-based professionals. Gala brings nearly two decades of experience in operations and finance, and she’s on a mission to help entrepreneurs go from reactive to refined—by giving them confidence, clarity, and control over their financial decisions.

Here’s what we cover in this powerful and practical conversation:

The difference between revenue and profit (and why it matters.)

A lot of course creators set a price and think that whatever they bring in is pure profit. Gala breaks down why that’s a mistake—and shares a simple way to think about your cost of goods, expenses, and true margins.

“Sometimes the revenue number is a vanity number if we haven't considered all the things in between.”

Why financial clarity is essential for making smarter business decisions.

Whether you’re just starting your online program or you’re trying to scale, Gala emphasizes the importance of understanding your numbers—because they tell the truth when emotions take over.

“If you can measure it, you can manage it.”

She shares a story of a client who thought their program was failing—only to discover it had been the most profitable offer they had all year.

The risk of relying too heavily on one offer.

Gala warns that if more than 80% of your income is coming from a single client or offer, it’s time to reassess. Whether it’s due to market shifts, personal emergencies, or changing client needs, having all your revenue tied to one stream puts your business at risk.

“The goal is to create sustainability through variety.”

She explains the difference between diversifying your offers (reaching new audiences with new types of value) and offering additions (like order bumps or upsells to deepen current client relationships). Both are important—but they serve different roles in your long-term strategy.

What to ask before creating a course or membership.

Profitability doesn’t happen by accident. Gala encourages course creators to consider:

• Your goals (Are you doing this for reach, revenue, freedom?)

• Your audience (Are they warm or cold?)

• Your costs (Time, tools, team, design, tech)

• Your timeline (How long will it take to see profit?)

“Know where you're going—or know what it's going to take to build what you have. Either way, you need one set of numbers to get started.”

The mindset shift around finances.

For many entrepreneurs, numbers feel intimidating or overwhelming. Gala offers a grounded and encouraging take: It’s not about being perfect—it’s about being present and willing to look. That’s where power and peace come from.

“The confidence that comes from looking at your numbers doesn’t mean you have it all together. But you know what’s going on—and now you can do something about it.”

 

A Practical Tool to Get Started: The Financial Focus Guide

At the end of the episode, Gala shares her Financial Focus Tool, a reflection-based guide designed to help you look at your numbers without judgment. It walks you through questions to evaluate what’s working, what’s not, and how to move forward with intention.

If you’ve been avoiding your numbers or feel like you’re just guessing—this tool is your next best step. It's like having a calm, supportive CFO in your corner.

More About Gala

Gala McCray is the founder of Two Arrows, a boutique financial consultancy that provides high-touch bookkeeping and strategic financial guidance for established service-based professionals. With nearly two decades of experience across operations and finance, Gala helps business owners move from reactive to refined by instilling confidence, clarity, and control in their numbers. Through Two Arrows, she supports clients in building scalable businesses with solid financial foundations—where luxury isn’t about excess, but about peace of mind.

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