How To Keep More Of Your Money – PTC 515

As an entrepreneur, you work hard to generate revenue. Many businesses focus on sales to drive that revenue. But, what are you doing to keep more of that money?

THE BOOK ON SELLING

I love learning the nuances of selling. In fact, I just finished another book on it.

We talk a lot about connecting with other experts and the power those connections hold for your growth. This book came to me from connections.

One of my former coaches introduced me to her daughter as a joint venture partners. Her daughter introduced me to the leader of her mastermind.

The leader of the mastermind connected me to a sales expert who was another member of the mastermind.

That expert is Joe Pallo. He wrote a great book on selling called "How To Sell Nothing – The Logical Way To Make The Emotional Sale".

In the book, Joe talks about learning about the prospect before the sales conversation. It's a lot about relationships and very similar to what we discuss here.

WHERE DOES THE MONEY GO?

As we generate revenue from our sales, we tend to allocate that revenue to a variety of expenses.

But, do you know where your money is going?

Why is it that people making $40k a year live paycheck-to-paycheck and people making $120k a year also live paycheck-to-paycheck?

It's because our expenses creep up as our income increases. We think we could never live without something that we never dreamed of having when we were making half or a third of what we are making now.

Unless you deliberately tell the money where to go, it will all disappear.

Many entrepreneurs start their company on a shoestring budget. I started this company on $500 for a website, some podcasting tools, and a couple other things.

As entrepreneurs make more money, they begin spending on things like marketing, virtual assistants, and memberships.

How many memberships do you have? Which ones are you really using on a regular basis and getting benefit from?

Back when you were making no money, you hustled and spent time instead of money. You made it work, because you didn't have the money to spend on marketing.

Now, I'm not saying don't invest in marketing or powerful tools to help you grow your business even faster.

I'm simply suggesting you invest that money with a purpose. Do you really need a second mastermind or third AI tool?

KEEP MORE OF YOUR MONEY

When it comes to spending money, I'm a big proponent of investing money where it can help you grow bigger and faster with focus.

One of those ways is finding an expert who knows the space much better than you and can help you shorten the timeframe to reach success. Experts can typically show you what you don't know and help you discover solutions faster.

I use coaches and experts for very specific purposes. I don't have a business coach. That is too broad.

At this point, I have a sales coach and a marketing coach. They help me in very specific ways.

Another expert I use is my accountant. I don't do my taxes, because I have no interest in learning all of the tax code, I don't know what I can write off properly, and I don't want to spend the time trying to figure it out.

A good accountant can help you keep more of your money by finding the leaks in your bucket.

You work hard to generate the revenue. It's time you start working a little harder to keep it.

YOUR MONEY EXPERT

Today, I want to help you get started. I want to bring you a conversation I had with Ralph Estep Jr. He is the host of the Ask Ralph Podcast where he shares insights on finance, taxation, and entrepreneurship and helps entrepreneurs manage money God's way.

He has some incredible tips for you to help you keep more of your money.

Ralph V. Estep, Jr. is a multifaceted professional whose career spans accounting, entrepreneurship, farming, and media.

With a background in finance and technology, he founded Saggio Management Group and has held leadership positions in various organizations.

This interview was part of my Podcast Profits Summit. Grab something to take notes with and get ready to keep more of your money.

Enjoy my conversation with Ralph Estep. Jr.

Be sure to grab Ralph's gift.

It is "Keep more of your money with 5 accounting tips most entrepreneurs miss". You can download it at https://www.askralphpodcast.com/5tips.

 

If you don't have a mentor who can take your hand and walk you every step of the way, go to www.PodcastTalentCoach.com/apply, click the button and apply to have a chat with me. We will develop your plan and see how I can help and support you to achieve your podcast goals.