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EP09 Biggest Mistakes Small Business Owners Make When Growing Their Companies

Young Money with Tracey Bissett

Release Date: 12/12/2017

EP211 Milli Moves: How to Maximize your Employee Benefits show art EP211 Milli Moves: How to Maximize your Employee Benefits

Young Money with Tracey Bissett

Today I’m going to be sharing how to maximize your employee benefits package. You’ve heard me talk about the importance of reading through legal agreements before, and the same is true when it comes to this area. Read everything related to your benefits, make notes, ask questions, and ask for a guide. To help you understand the important parts to be looking at, I’m going to break down the benefits into two groups: money for you and money savings for you. Listen in as I explain what an Employee Stock Plan is, as well as why you should always take advantage of employee matching through...

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EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh show art EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh

Young Money with Tracey Bissett

Sabita Singh is the President of Trivetta Consulting Inc, which she formed in 2018. After recognizing the power of LinkedIn, Sabita specialized in becoming a strategic LinkedIn coach, trainer and speaker. She is now known for writing all-star LinkedIn profiles for her clients to improve their visibility. Today she joins the show to discuss how to build an ACTIVE presence on LinkedIn to attract new career and business opportunities. Listen in as Sabita shares the importance of staying in contact with your network regardless of how busy you may be with your career. You will learn the...

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EP209 Secrets to Scholarship Success show art EP209 Secrets to Scholarship Success

Young Money with Tracey Bissett

I am passionate about helping young millionaires in the making accomplish their goals by becoming financially fit, and a key part of this equation is education. Unfortunately, paying for school can be stressful, but it is possible for you to reduce the financial burden with scholarships. So why not make use of other people’s money? In today’s episode, I am going to share secrets to scholarship success to make it easier for you to secure scholarships. Listen in as I explain the benefit of taking the time to apply for a scholarship—even if you are not in serious financial need or there are...

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EP208 What Are YOU Doing To Increase Your Financial Fitness? show art EP208 What Are YOU Doing To Increase Your Financial Fitness?

Young Money with Tracey Bissett

We are all in different places in our financial fitness journey. Similar to physical fitness, we could be taking our first step off the couch to walk around the block, or we could be further along and training for a marathon. It is the same when we talk about financial fitness—we could be simply learning about credit cards, or we could be learning to become sophisticated investors. So, in this episode,  I want to go back to basics and talk about financial literacy, specifically what you are doing to advance yours.  Listen in as I explain what financial literacy and financial...

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EP207 Financial Fitness Round Up from Millionaires in the Making show art EP207 Financial Fitness Round Up from Millionaires in the Making

Young Money with Tracey Bissett

We have been fortunate to have so many amazing guests on the show over the years, sharing their stories and knowledge with us. From children as young as seven to young adults making waves in the investment space, these millionaires in the making have so much wisdom to give. So, in this episode, I want to provide you with some of my favorite clips from several of these incredible young folks. Listen in to hear what inspired and motivated these young investors to begin investing, as well as the lessons they have learned throughout their journey. You'll learn about the strategies they use to...

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EP206 Milli Moves: 3 Financial Fitness Lessons from the 2021 Olympics show art EP206 Milli Moves: 3 Financial Fitness Lessons from the 2021 Olympics

Young Money with Tracey Bissett

The 2021 Tokyo Olympics have been unlike any we have had before. Delayed by a year due to the pandemic, and with COVID-19 restrictions in place resulting in health precautions and limited attendance, this year's Games have offered many lessons and takeaways that can be applied to financial fitness, and I'm excited to share those with you today. Listen in as I discuss the importance of consistency when growing your wealth and knowledge around finances, as well as the benefit of taking calculated risks with your money. You'll learn why you should never be afraid to ask questions, why consistent...

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EP205 Student Perspectives on School, Internships and Financial Fitness with Connor Craig show art EP205 Student Perspectives on School, Internships and Financial Fitness with Connor Craig

Young Money with Tracey Bissett

Connor Craig joins the show today to share his perspective on post-secondary education life, internships and what he’s been learning about financial literacy. He’s in the Business Management and Organizational Studies program at Western University, and is doubling up with internships at both Capital Markets and with me at Bissett Financial Fitness. In this episode, he discusses everything from work ethic and perseverance to the important lessons he learned in the last year or so. Listen in to hear why Connor decided to pursue business and gain insight into consumer behavior. He shares how...

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EP204 From Bankruptcy to Business Owner with Ean Price Murphy show art EP204 From Bankruptcy to Business Owner with Ean Price Murphy

Young Money with Tracey Bissett

Ean Price Murphy founded Moxie Bookkeeping & Coaching Inc to work with creative businesses and nonprofits - companies who are usually deeply engaged with their work but frequently not comfortable with numbers. In this episode, Ean joins the show to discuss her journey from bankruptcy to successful business owner, as well as the lessons she learned along the way. Listen in as she explains the importance of being resilient and persistent in finding information regarding financial literacy. You will learn the importance of asking the right people the right questions, how to take the mystery...

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EP203 Financial Impacts of Anti-Black Racism in Canada with Jackie Porter show art EP203 Financial Impacts of Anti-Black Racism in Canada with Jackie Porter

Young Money with Tracey Bissett

Jackie Porter is an awarding-winning certified financial planner, best-selling author, and featured speaker who has helped thousands of clients grow their net worth, build a fortress around their finances, and keep more of their cash in their pockets. In this episode, Jackie joins the show to talk about Anti-Black racism in Canada and its adverse economic and social effects on Black Canadians. Listen in as Jackie explains her experience growing up without knowing about the value of money, as well as the moment that changed her life in regards to this. You will learn what financial racism is,...

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EP202 Revenge Spending 101 show art EP202 Revenge Spending 101

Young Money with Tracey Bissett

Have you heard about "revenge spending"? This term was created to describe the frenzied spending that is taking place now that people are able to get out and spend their money again. This rush to spend typically follows an unprecedented event—such as the pandemic—as people seek to reclaim control and a sense of normalcy. So in this episode, I will be sharing the steps you can take to avoid revenge spending and become more financially confident. Listen in as I explain the importance of having an emergency fund and why so many people are not financially prepared if they were to suddenly...

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More Episodes
Are you selling more than ever before, but finding that you have no money in your bank account to pay your business expenses? Are you overdrawing on your bank account or line of credit? Perhaps you’re struggling to pay your suppliers in a timely manner which is resulting in delayed shipments. Maybe you’re receiving calls or letters in the mail regarding overdue bills. On today’s episode, I’m sharing the three biggest financial mistakes that many small businesses make when growing their companies. I also share tips on how to avoid these critical mistakes so you can grow your business successfully.  

“It’s hard to run a business when you don’t know what’s happening from a financial perspective.” - Tracey Bissett

 

This Week on Young Money:
  • How not focusing on the numbers can impact the growth of your small business
  • Understanding the difference between profit/income and cash flow from a business and personal standpoint
  • Understanding the importance of building a relationship with a lending institution early in your business
  Success Tips for Growing Companies:
  1. Monitor your numbers frequently.
  2. Produce not only an income statement, but also cashflow forecasts.
  3. Develop relationships with lending institutions early.
     

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