060: Casey Wright | Profit First Money Management System
Release Date: 12/05/2019
065: Casey Wright | Trust: Your Company’s Most Important Resource
The Sports Entrepreneur
This episode is about TRUST (as a continuation of the previous episode) which is the most important resource you can have and that doesn’t cost a thing. Casey is breaking down the concept of trust so it is tangible and easy to understand.
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064: Casey Wright | Improving the Level of Trust in Your Business
The Sports Entrepreneur
In today’s episode you will hear about the one thing that is holding you back in your business and you might not even know it! It is the area of trust. Listen to this episode to learn how to improve the level of trust in your business and see how this propels your company forward.
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063: Casey Wright | Setting Goals for 2020
The Sports Entrepreneur
In today’s episode Casey explains why having a strategy to set our goals for the upcoming year is a must! It is the time to start thinking about how you want your life and business to look like in 2020, and for that, it is crucial to have a strategy; you need to create a map to assure that the following year is better than 2019.
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062: Casey Wright | The Four Levels of the Leadership Tree
The Sports Entrepreneur
In today’s episode Casey is going to breakdown the four levels of the leadership tree. If you’ve ever found yourself in a situation where you felt confused about how to appropriately delegate, when is the right time to delegate, or how much you should delegate, this simple system you will hear about in this show, is exactly what you need.
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061: Casey Wright | Work-Life ROI
The Sports Entrepreneur
In this episode, Casey will go deep into the subject of Work-Life balance or what she likes best to call Work-Life Return-on-Investment, the word ‘balance’ can sometimes be confusing if it is considered that the way to achieve it is to have 50-50. Casey will share her recipe for getting the most out of your resources, through achieving integration among the different aspects of your life, where each piece works in benefit of the other.
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060: Casey Wright | Profit First Money Management System
The Sports Entrepreneur
In today’s episode, Casey Wright will dive deep into the fundamentals of the Profit First Money Management System; it’s based on a book that came out five years ago and Casey has been operating it in her company in the last three years, changing her business as well as her life. If you are interested in having your business serve you this episode is just right for you.
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059: Casey Wright | The Miracle Morning Routine
The Sports Entrepreneur
If you think your morning routine could be up-leveled and serve you better in order to improve the rest of your day, you need to listen to this episode. Casey is bringing answers and solutions to help you scale your business and life in a different way while having fun when you do it.
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058: Frank Sahlein | Industry Trends and Exit Strategies
The Sports Entrepreneur
In this episode, Frank Sahlein, CEO of 3rd Level Consulting and Business Brokerage, is joining Casey to talk about industry trends and how much the value of an industry and its age impact the business. Frank’s been active in the children’s activity centers industry as an athlete, a coach, an owner, a consulter and now a broker.
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057: Casey Wright | Financial IQ
The Sports Entrepreneur
Casey comes back to the subject of increasing your financial IQ. In this episode, Casey will introduce some of Robert Kiyosaki’s principles regarding Financial IQs that you can put into action right away, first by identifying which is your mindset about money and where you got it from, and then, figuring out your abilities to make money, protect it, budgeting, leveraging it, and lastly, dedicating time to always increase your financial intelligence.
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056: Casey Wright | Setting Priorities
The Sports Entrepreneur
In this episode Casey will blow your mind! You will hear about priorities, how to reduce overwhelmed, a little bit of fantasy football and most importantly, after 15 minutes of listening, you are going to be ready to get stuff done!
info_outlineIn today’s episode, Casey Wright will dive deep into the fundamentals of the Profit First Money Management System; it’s based on a book that came out five years ago and Casey has been operating it in her company in the last three years, changing her business as well as her life. If you are interested in having your business serve you this episode is just right for you.
Key Takeaways:
[1:17] The Profit First Money Management System is a creative way to look at accounting.
[2:37] Three great takeaways for Casey’s company resulting from the use of Profit First System:
- Owners compensation
- Opening up books to the leadership team
- Structure roles based on the financial targets that each role should meet.
[11:28] The general formula for accounting is: Sales minus expenses = Profits is turned upside down: Sales minus Profits = Expenses, ensuring that the owner gets paid first.
[13:43] First principle: Make more for less.
[15:23] Second Principle: Serve sequentially.
[16:41] Third Principle: Remove temptation.
[17:52] Fourth Principle: Enforcing a rhythm and practice consistency.
[19:05] To grow means growing your bottom line, your margins, and the profitability of the company.
[19:54] What matters in the health of a business is what is left over.
[20:57] Casey talks about a company assessment including in Profit First which gives percentages of gross sales, owners compensation, profit, tax, and operating expenses, according to different ranges of incomes.
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