Category: Wealth

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Business Growth Entrepreneurship Wealth

049:  Master Your Business Finances

If you’re an entrepreneur, one of the most important aspects of your business is finance. After all, if you’re not comfortable with keeping track of your income and expenses, how will you ever be able to grow and expand? 

But mastering business finance can seem complicated at times—especially when dealing with daunting paperwork and taxes. Don’t let this deter you from achieving success! 

In this episode, I talk about how you can master your business finances. Whether you’re a budding entrepreneur or a seasoned business owner, if there is one thing that we all need, it’s the importance of mastering our finances. 

Knowing how to manage your business finances can be overwhelming – especially when you don’t know where to begin – but gaining an understanding of your financials is absolutely essential if you want to create and maintain long-term success. 

Tune into today’s episode to learn more about how you can master your business finance.  

IN THIS EPISODE, YOU’LL FIND OUT…

  • The power of having multiple bank accounts (01:34)
  • How to apply the profit-first mentality (03:07)
  • The bank accounts you must have (04:42)
  • Action steps to get started in mastering your business finances (07:11)

QUOTES

“Your cash flow will determine whether you survive as a business, or you die.” -Carl Taylor

“You cannot look at your business bank account as your own personal piggy bank.” -Carl Taylor

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Entrepreneurship Wealth

048: What is Financial Freedom?

Financial freedom is something that many people want. But what exactly is financial freedom, and how can it be achieved? Many people are looking for answers to these questions, but there is no simple solution. 

Financial freedom doesn’t happen overnight. Like any worthwhile endeavour, achieving financial freedom requires careful planning, dedication and hard work. It entails building a business where you can generate a reliable income stream so you can live comfortably without worrying about money.

In this episode, I talk about what financial freedom is. I share the three levels of financial freedom and what you can do to reach each. I also provide some practical tips on working towards achieving your financial goals. 

By understanding financial freedom, you can start taking steps to reach your goals and build a secure future for yourself. So, if you are looking for ways to achieve financial freedom, this episode is perfect for you. 

IN THIS EPISODE, YOU’LL FIND OUT…

  • The three levels of financial freedom (00:29)
  • What is critical mass, and why is it twice your expenses? (05:39)
  • Why you should keep spending your money (07:21)

QUOTES

“Spending money on lifestyle costs is good for the economy.”

“If you’re just hoarding money and wealth, that does nothing.  It’s not productive and does nothing for the greater good of humanity.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Personal Development Wealth

047: Can Money Make You Happy?

Money can create comfort and convenience, but can money make you happy?  To be truly content with your life, you must build something of lasting value – a business that brings joy to yourself and others. 

Building an enterprise is no easy feat; it requires passion, commitment and often sacrifice. Yet the rewards can be great. You craft something valuable for the world, gain financial stability and establish a sense of pride in your achievements while developing invaluable skills.

In this episode, I share why money won’t make you happy. Money is not a measure of your worth, it is simply a tool that enables us to make choices in life. By growing your business and understanding how to make money, you can have more life options, allowing you to live your life on your terms.  

IN THIS EPISODE, YOU’LL FIND OUT…

  • Things you can’t do without money (00:14)
  • Money is a neutral tool – but what does this mean? (00:53)
  • You may need to change your mindset about money (01:20)
  • How to create more money (02:31) 
  • What will truly make you happy (03:18)

QUOTES

“Don’t be afraid to make money. But don’t think that making more money is what will make you happy.”

“Happiness is choosing to live your life on your terms.  And money provides many more options.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Personal Development Wealth

046: Should I Quit My Job and Start a Business?

Have you been asking yourself, “Should I quit my job and start a business?” 

Maybe you’ve been researching how to turn these thoughts and dreams into reality but don’t know where to begin? 

Starting a business isn’t easy – it takes hard work, dedication and a willingness to take risks. However, with an arsenal of information on how to start your company and make it a success, the journey doesn’t have to be as daunting as it may seem. 

In this episode, I’ll share some thoughts and questions you need to ponder before launching your business, and some of the steps to take to get it off the ground and onto a path of success. 

I also discuss key strategies for sustaining growth over time and ensuring you’re consistently growing and improving your business.

Indeed, starting a business is an exciting adventure – and with the right preparation, you can make your startup dreams a reality. So hit play and let’s start the raw and real conversation about deciding if going into business is right for you.

IN THIS EPISODE, YOU’LL FIND OUT…

  • How much money do you need to invest in a business? (02:03)
  • Buying a business versus starting a business (02:42)
  • How much time do you need to put into growing a business? (04:42)
  • What is your ideal business model? (06:22)
  • What commitment is required to make a business work? (09:25)
  • What I would do if I were in your situation (13:55)
  • What to do if you don’t have enough money to start a business (16:02)

QUOTES

“Sell your time because time is what you have the most of if you quit your job and start a business.”

“You need to know what you’re prepared to do.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Personal Development Wealth

045: Your Business Profit Is Not Your Income

Are you under the impression that your business profit is the same as your income? Many small business owners make this mistake, believing that their profits are all they need to worry about when it comes to running their company. 

Unfortunately, this couldn’t be further from the truth – while measuring and tracking profits is essential for any successful enterprise, there’s a difference between what counts toward your business income and how much of those dollars end up back in your pocket.

In this episode, I discuss why you should not consider your business profit as your income. While there may be an overlap in these two concepts, they are quite distinct. In fact, your business profit is only part of the larger picture regarding successful financial planning. 

By the end of this episode, you’ll have a grasp on not only why separating these two concepts is important but also how doing so can shape, or turn around, the financial performance of any company. 

IN THIS EPISODE, YOU’LL FIND OUT…

  • How you could unintentionally be setting yourself up for failure (01:26)
  • Why paying yourself weekly is so important (03:08)
  • What is breakeven, and what is a dividend? (05:44)
  • Action steps to consider from this episode (07:18)

QUOTES

“If you think that your profit is your personal income, it’s going to limit your ability to grow as a business owner.”

“If you go into business, thinking that the profit you make in your business is your personal money, you’re setting yourself up for failure.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Personal Development Wealth

044: Taking Risks To Be Successful

The sentiment of ‘you’re playing with fire’ might sound like a cautionary tale, but when it comes to your business, sometimes that same fire can be a tool for reinvigoration. Taking risks to be successful doesn’t mean you need to run headfirst into every opportunity prematurely. 

When it comes to the prosperity of your business, mindful risk-taking is key – and this means understanding how and when taking chances can benefit you. 

Letting the fires burn in your business requires patience despite pressure from outside sources or expectations from yourself – and although there may be consequences chipping away at those walls over time – ultimately, these risks have the potential to help build a brand that stands firm.

In this episode, I talk about why sometimes, you should let the fires burn. I’ll share with you why a business without risk-taking is like a car without fuel, why understanding the risks can help you make more informed decisions, and how sometimes it’s beneficial just to let the fires burn.

By the end of this episode, you’ll understand that to reach success, sometimes it’s necessary to take risks – even if it means playing with fire. Listen to this episode now and explore the depths of taking chances and creating a path to success.

IN THIS EPISODE, YOU’LL FIND OUT…

  • The importance of setting boundaries between your personal and professional life (0:03)
  • Knowing which fires are okay to leave burning for now (01:48)
  • Why you should stop trying to run your business with no fires burning (02:17)

QUOTES

“The art is knowing what fires are okay to let burn.  It’s not about trying to build a business that doesn’t have any fires.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Personal Development Wealth

043: Achieving Greater Levels Of Fulfillment

If you’re searching for success and personal fulfilment, it’s likely that “why” has become a prevalent question in your mind. Why am I doing this? Why does it matter? 

Without a clear why, the what and the how will not have the same purpose or meaning. Knowing your why helps you make decisions aligned with what truly matters to you. 

In this episode, I talk about the importance of knowing your why in business and life. I share my story of discovering my own why and use this as a case study to help you identify yours. 

Tune in to gain insights on some practical tips on finding your why, questions to ask yourself and different methods for staying connected with it over time so that you can continue to live in alignment with your values and passions. 

IN THIS EPISODE, YOU’LL FIND OUT…

  • Why you should question everything and anything (00:11)
  • How over analysing things can stop growth in its tracks (00:57)
  • Doing what you want without justifying to others (02:53)

QUOTES

“If you have the desire to do something, it’s okay to just go.”

“Don’t get so caught up thinking you need to intellectualise and understand everything.”

“Life is worth living, and living is about just being in the moment.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Business Growth Entrepreneurship Wealth

042: Are You Truly Prepared to Do What It Takes to Provide for Your Family?

Some people would do anything for their families. They would make any sacrifice to ensure the well-being of their family members and to provide at the highest level. But have you ever stopped to ask your family what provision means to them?  What do they truly want?

In this episode, I ask, “Are you truly prepared to do what it takes to provide for your family?”

Running a business is no easy task, and it can require a lot of sacrifices. From long hours and hard work to financial commitments, there are sacrifices that you will have to make to keep your business running smoothly. 

But what if your business is no longer providing for your family? Would you be willing to take a step back to redesign your business to be better suited to your families wants and needs? 

I share the questions you can ask yourself so you can assess your current direction.

IN THIS EPISODE, YOU’LL FIND OUT…

  • Is your business truly providing? (00:00)
  • Are you prepared to tear down your business and start again? (02:17)
  • The first question to ask yourself to assess your current business situation (03:08)
  • What does provision mean to your family? (3:29)
  • How the measurement of success may differ between family members (4:09)
  • Are you willing to do whatever it takes to provide for your family? (4:56)
  • The questions you need to ask yourself – and truthfully answer (5:19)

QUOTES

“There’s no shame in knowing yourself, knowing what you are prepared to do and knowing what you’re not prepared to do.”

WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

Like this episode? Have topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Entrepreneurship Investing Wealth

037: Investment & Wealth Building Strategy For Entrepreneurs

Investment & Wealth Building Strategy for Entrepreneurs

Building wealth is a journey and everyone’s journey is different. 

Ultimately, building wealth is about being able to break free of the “Rat Race” and build financial freedom to give you true freedom in life.  

This is the show where Carl and Pete share their insights and lessons learned to help ‘rise the tide to lift all boats’ so that other entrepreneurs can grow their own businesses. In this particular episode, Carl and Pete share their investment journeys as they built their wealth and the lessons they’ve learned along the way. 

Remember to go slow with this journey so that the assets that you’ve spent so long building can be put into good use.

NOTE: This is not financial advice but merely Carl and Pete’s insights and lessons from their own personal financial journeys. 

IN THIS EPISODE, YOU’LL FIND OUT…

  • Pros and cons of being an investor (4:52)
  • Building a wealth lake (8:05)
  • Managing money (9:55)
  • Never kill the golden goose (10:00)
  • Investing in index fund (13:40)
  • Different asset classes (14:25)
  • It’s important to know the numbers (14:00)
  • Multiple income streams (18:20)
  • Understanding income (22:10)
  • Putting your investment where your skills are (24:20)
  • Picking what your business is (25:27)
  • Where do you want to be active in business? (26:24)
  • What is the share market? (26:58)
  • Why do people keep reinvesting in their business? (27:29)
  • Don’t let all your money sit in one place (29:55)

RESOURCES

WHERE YOU CAN FIND US

CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

PETER MORIARTY
iTGenius
LinkedIn
Facebook
Twitter

Like this episode? Have a topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below. 

Categories
Wealth

010: Lessons from Robert Kiyosaki’s Cashflow Boardgame

The way we play games is the way we play life.

Robert Kiyosaki’s Cashflow Boardgame is a financial course in a box that involves real-life situations and can teach us how we can stop running the rat race and start living. In this game, you learn how to think like an investor, how to take risks and try different investing strategies. 

The problem with the rat race is that there is no finish line. The more you work, the more you spend, and the faster your income disappears. You just keep running around in circles. In order to stop running, you must pay yourself first and invest in your future. Understanding the danger of staying trapped in the rat race is a great start to break free and achieve financial independence. This game is a great place to learn how.

Life is about the journey, not just the destination. You don’t want to spend that journey on a wheel going nowhere.

IN THIS EPISODE, YOU’LL FIND OUT…

  • The way we play games is the way we play life (7:14)
  • Learning about yourself from the Cashflow Boardgame (7:43)
  • Learning your money mindset (8:08)
  • The way you achieve financial freedom is if your income exceeds your expenses  (10:24)
  • Increase your passive income (10:32)
  • Lower your expenses and get out of the rat race faster (10:40)
  • Higher income doesn’t equal financial freedom (11:50)
  • Play the game 100 times to really understand it (12:34)
  • Versions of the Cashflow Game (13:04)
  • Taking advantage of borrowing money (15:27)
  • Good debt vs bad debt (16:28)
  • Everyone approaches the game the same way they approach real life (21:46)
  • Bending or breaking the rules (24:26)
  • Cheating the system is not the way to move forward (25:36)

ADDITIONAL RESOURCES:

ADDITIONAL RESOURCES:

WHERE YOU CAN FIND US

CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter

PETER MORIARTY
iTGenius
LinkedIn
Facebook
Twitter

Like this episode? Have a topics that you would like us to discuss?  We’d love to hear your feedback and comments. Let us know by leaving a comment below.