You have a business, you know that you are doing well, but you don’t know where all the money goes. This is a struggle that most business owners can relate to. Firstly because of a lack of financial education in schools, and secondly being a lack of systems to manage money better. However, if you’re intentional about growing and reaping the rewards of a successful business, it’s important to get a hold of your finances.
In today’s Tradie Business School podcast episode, Barry and Michael will address the dilemma most business owners face. They discuss why earning more isn’t always the means to having more. They also share a practical and simple system to manage your business’s finances. Moreover, they also share their personal experiences with regards to handling their finances and what they learned from it.
If you’re adamant about managing your finances better, this episode is for you.
What’s Discussed in This Episode:
0:00 Introduction
1:09 Managing money is a struggle for many business owners
2:33 Debunk the myth ‘to have more, ‘earn more’
4:53 Creating a system to manage money
7:50 Step-by-step process to follow to manage your money
20:05 Final takeaways
Resources:
- The Game Changers (https://www.thegamechangers.com.au/)
Books mentioned in this episode:
- The Barefoot Investor (https://www.amazon.com/Barefoot-Investor-Money-Guide-Youll/dp/0730324214)
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Michael Michalowicz (https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4)
- Profit First Allocations by Michael Michalowicz (https://s3.amazonaws.com/ProfitFirst/Graphics+%26+Charts+From+Profit+First.pdf)
You can also connect with us on Linkedin. For more podcast episodes, you may also visit our website. You can also listen to the Tradie Business School on Apple Podcasts, Spotify, and Google Podcasts.
Thank you for tuning in!