Tag: Business growth

If you’re an entrepreneur looking to build your business and create wealth, the possibilities before you can feel endless. But the truth is that success in business often comes down to having access to the right knowledge at the right time.

Fortunately, books are some of our most valuable resources when it comes to gathering information. There are countless books available that are filled with advice from experienced entrepreneurs who understand the challenges faced in achieving lasting success.

In this episode, I share five must-read books for anyone who is interested in building their business and wealth. In these carefully selected books, experts share their wisdom on how best to tackle common challenges faced by entrepreneurs like developing a strong team and seizing new opportunities. 

With clear advice from experienced professionals in all areas of business from sales strategies through finance, you’ll be able to craft a strategy tailored specifically for YOUR vision – one with measurable goals and studies results! 

IN THIS EPISODE, YOU’LL FIND OUT…

• The book I recommend if you are ready to begin to hire a team (01:17)
• Scaling up your business (01:57)
• Investing and what it can do for you (02:44)
• Understanding debt (03:30)
• The code to becoming wealthy (04:15)

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. 

Money and finances can be daunting for any business owner. Poring over spreadsheets, analyzing cash flow, and trying to make sense of financial jargon can make anyone’s head spin. 

But the truth is, understanding your business finances is crucial to your company’s success. That’s why conducting a financial health check is essential.

In this episode, I share the key lessons I learned from the interview with Gavin Smith, which you can check out in episode 63: Financial Health Check – Understanding Your Business Finances with Gavin Smith. During our conversation, Gavin shared invaluable insights into how entrepreneurs can better manage their finances, avoid common pitfalls, and stay on top of their financial game.

A financial health check assesses your business’s financial performance and stability. It involves analyzing your company’s financial statements, cash flow, expenses, and revenue to better understand your financial position. 

By regularly reviewing your finances, you can identify trends, spot potential problems early on, and take proactive steps to improve your financial performance. 

If you’re ready to take control of your business finances and set yourself up for success, grab a notebook as I dive into the key takeaways from my conversation with Gavin Smith.

IN THIS EPISODE, YOU’LL FIND OUT…

• The importance of knowing your numbers (01:25)
• How to simplify your profit and loss into five categories (03:35)
• Looking at the percentages vs. looking at the dollars (04:45)
• How often should you do a cash flow forecast? (05:50)
• Finding business partners that fill the gaps (07:52)
• The power of understanding your strengths (09:08)

QUOTES

“Using your numbers is about knowing what’s going to happen.” -Carl Taylor

“Knowing your numbers is retrospective.” -Carl Taylor

“Doing a cash flow forecast weekly will help you understand the highs and lows of your different cycles.” -Carl Taylor

RESOURCES

ER Episode 63: Financial Health Check – Understanding Your Business Finances with Gavin Smith

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. 

Managing your business finances is an essential task that every entrepreneur must undertake. As a business owner, you need to clearly understand your financial situation to make informed decisions about your operations, growth strategies, and investments. 

However, many entrepreneurs need help with financial management and may need help knowing where to start. That’s where a financial health check can be valuable. A financial health check assesses your business finances and evaluates your income, expenses, cash flow, profitability, and other key financial indicators.

In this episode, I’ve invited Gavin Smith, the founder and CEO of The Profit Analyst, to discuss the importance of doing a financial health check.

Gavin shares his expertise on how entrepreneurs can improve their financial literacy and take control of their finances. He also discusses common financial challenges small business owners face and provides practical tips to overcome them. 

Whether you are a seasoned business owner or just starting, this episode will provide valuable insights and strategies to help you better manage your business finances to achieve financial success.

IN THIS EPISODE, YOU’LL FIND OUT…

• Knowing your numbers vs. using your numbers (03:40)
• How to become more accurate in forecasting your numbers (05:14)
• The process of simplifying your numbers (09:34)
• The four-step profit formula and why it’s important (13:42)
• The power of knowing your numbers (15:18)
• How to identify your business drivers (17:57)
• Five key numbers every business owner needs to understand (20:15)
• The finance ecosystem and its three distinct areas (25:00)
• The importance of understanding your cash flow (28:11)
• How to make your numbers easier to look at (33:09)
• How to build wealth through your business (36:30)
• The profit calculator and how it can help you (42:32)
• The value of profit first (50:48)

QUOTES

“If revenue is doubling, your team is probably going to double as well.” -Gavin Smith

“Sometimes restricting expenses is not growing your business.” -Carl Taylor

“There’s a huge opportunity for lots of business owners to become empowered from their numbers.” -Gavin Smith

Get In Touch With Gavin Smith

Website: www.theprofitanalyst.com

Facebook: https://web.facebook.com/theprofitanalyst/

Instagram: https://www.instagram.com/theprofitanalyst/

ABOUT GAVIN SMITH

Prior to founding The Profit Analyst, one of the leading financial coaching businesses in Australia, Gavin had been a CFO for various international brands, a commercial analyst and a Chartered Accountant at KPMG.  He now owns multiple businesses, and has a passion for empowering other business owners through their numbers.

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. 

Do you dream of working less and earning more? If the answer is yes, then read on – passive income may be just the thing for helping you reach your financial goals. 

Passive income gives individuals and businesses an opportunity to generate ongoing income streams with no extra work. It can provide invaluable security against the unexpected disruptions that life throws at us from time to time, and the potential for long-term wealth building. 

In this episode I talk about what passive income is, how it works, some potential sources of passive income – and how making a plan today will help set yourself up for success tomorrow. 

Generating passive income can be a powerful way to achieve financial independence, but it’s not something that comes easy. It requires dedication and the willingness to take risks in order to get the most from your earnings. 

If you are looking for ways to earn passive income, then this episode is for you!

IN THIS EPISODE, YOU’LL FIND OUT…

• What is leveraged income? (01:25)
• What does passive income really mean? (03:03)
• Forms of passive income (04:26)
• The secret to passive income (06:01)
• The easiest way to generate a passive income (07:06)

QUOTES

“My definition of financial freedom is when your passive income exceeds your living expenses.” -Carl Taylor

“Leveraged income is where the amount you make could be higher than the amount of work.” -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. 

For entrepreneurs and business owners, building wealth is often closely tied to the success of their business. However, it’s important to diversify investments and build wealth outside of the business to ensure long-term financial stability.

The thing is, investing can be a highly rewarding way to grow your wealth over time, but it also comes with inherent risks. Without proper knowledge and planning, investing can be a high-risk endeavour that leads to financial loss.

In this episode, I share my take-aways from episode 60 where I interviewed Terry Tran on building wealth through investing. Building wealth outside your business can seem daunting, but as Terry emphasised, it’s a crucial step towards long-term financial security.

Whether you’re an entrepreneur, business owner, or simply looking to grow your wealth, the lessons shared in this episode apply to anyone looking to make informed investment decisions and create a diversified portfolio.

IN THIS EPISODE, YOU’LL FIND OUT…

• Investing is high-risk – how to go about it? (01:31)
• The importance of learning how to analyse a stock (03:07)
• Aiming for 15 to 25% returns per annum from your shares (04:12)
• Fractional ownership:  is it a good or bad thing? (05:28)
• Focusing on percentages rather than dollar amounts (06:39)
• How to build wealth outside of your business (08:21)

QUOTES

“Your business is already high risk; don’t go taking crazy risks in your investing.” -Carl Taylor

“Learning to analyze a stock will upskill your ability to analyze your business health.” -Carl Taylor

RESOURCES

• ER Episode 60: Making Money From Outside Investments with Terry Tran

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. 

Are you looking for ways to build wealth so you don’t need to rely on your business income? Investing outside of your business can be a great way to diversify your income streams and create a sense of financial security. 

As with any venture, risk is involved, so researching different industries and staying up-to-date on macroeconomic developments are essential factors in achieving successful results. If done correctly, investing outside of your company can yield big benefits – from earning passive income to increasing future wealth opportunities.

In this episode, we talk about making money through outside investments.  My guest Terry Tran is the founder of The Freedom Trader, a place that is dedicated to helping you create financial, time, and location freedom outside your business through safe, consistent investing and trading in every market condition.

Whether you’re a budding entrepreneur, full-time business owner, or investor, understanding how to make money from outside investments can be key to building and securing financial success. With investing, now might be the time to expand your knowledge of money-making opportunities.

Listen to this episode to discover what you can do to make more money outside your business.

IN THIS EPISODE, YOU’LL FIND OUT…

• Surviving the eight-year itch (04:47)
• Understanding the fundamentals of a listed business (08:57)
• The difference between trading and investing (11:24)
• How to mix ETFs in your portfolio (16:46)
• Is fractional ownership a good or a bad thing? (18:49)
• Leverage in the investment space – yay or nay? (21:18)
• Common mistakes that trip people up (24:39)
• The importance of looking at profit and loss percentages (26:42)
• Where to start with investing (31:14)
• How to de-risk your financial life (34:49)

QUOTES

“The priority is not just about making money, but is always about protecting what you have.” -Terry Tran

“Leverage is a no unless it’s property equity.” -Terry Tran

“The highest level of business freedom is where you become an investor.” -Carl Taylor

CLICK HERE to download Terry’s Free Checklist

Get In Touch With Terry Tran

• Website: www.thefreedomtrader.com 
• Facebook: https://www.facebook.com/TheFreedomTrader
• LinkedIn: https://www.linkedin.com/in/terrytranlinkedin/ 
• Instagram: https://www.instagram.com/thefreedomtrader/
• YouTube: https://www.youtube.com/c/ThefreedomtraderTerryTran 

ABOUT TERRY TRAN

Terry Tran is the founder of TheFreedomTrader.com.  

A place that drops all the BS and hype, and is dedicated to helping you create financial, time and location freedom outside your business through safe, consistent investing and trading in every market condition, even if you are a complete beginner. 

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. 

Do you often feel overwhelmed with the number of tasks on your weekly to-do list? 

It’s overwhelming to have a task or project hanging over your head for days or weeks at a time. Sure, it can be hard to delegate — especially if no one else is as qualified or passionate about it as you are. 

But delegating tasks isn’t just beneficial for helping us stay organised and on track; it’s also critical in order to maximise team efficiency and divert resources into more important areas that need attention. 

The 10-80-10 Principle is an effective approach for properly distributing workload – integrating both yourself and other people into the process so everyone feels engaged from start to finish. 

In this episode, I talk about what the 10-80-10 principle is and how you can use it in your business. I share the importance of delegating tasks within your business and how to do it in a way that is fair and efficient. 

When done properly, delegation can have a significant impact on your business. Not only will it give you more time to focus on the important tasks at hand, but it also helps build morale and boosts productivity among team members. 

So if you’re ready to start delegating effectively, this episode is for you!

IN THIS EPISODE, YOU’LL FIND OUT…

• What is the 10-80-10 principle? (00:02)
• How to properly delegate your 10-80-10 (01:19)
• Action steps to consider when delegating (02:27)

QUOTES

“Get it off your plate so that you can be focused on the bits that only you can do.” -Carl Taylor

If you think that you can’t delegate things, you’re going to remain stuck.” -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. 

Have you ever eyed that dream purchase like a new car or house, only to be stopped short by the fear of taking on too much debt? It’s a common worry for many people, as is being stuck in bad debt with its crushing interest rates and constricting terms. It can seem intimidating to make decisions regarding your finances when so much is at stake.

However, it’s important to understand that not all debt is equal. There are different types of debt – good debts and bad debts – both of which carry drastically different implications for your financial future if managed correctly or incorrectly. 

In this episode, I talk about good debt and bad debt. I share personal stories on how I became more educated about debt and how I manage my finances for the better. 

Indeed, debt can be a powerful tool to increase your purchasing power and build wealth. However, the trick is understanding how to make prudent decisions on when it’s beneficial to take on debt and when it’s not. Listen to this episode now to learn how to navigate these tricky waters and make smart decisions when it comes to money.

IN THIS EPISODE, YOU’LL FIND OUT…

• Understanding what bad bad debt is (00:35)
• How opportunity cost can affect your buying decisions (05:58)
• What is good debt? (08:08)
• The importance of understanding your situation before borrowing (10:27)

QUOTES

“Opportunity cost is a real cost.” -Carl Taylor

“Not all bad debt is bad.” -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. 

One of the biggest debates among people, both in personal and professional circles, is how much money one needs to be classified as “rich”. To some, it may simply mean having enough to afford the basics. For others, it might involve more complex criteria for maintaining a certain lifestyle that requires you to have an unlimited bank account. 

This can be a difficult topic to decipher due to everyone’s individual opinions – but no matter where you fall on the spectrum of wealth accumulation, there are several perspectives worth exploring when considering what constitutes being “rich”. 

Most of us have a vague understanding of what it means to be rich. Generally, we know that the definition of richness isn’t the same for everyone, and depends on factors like location, income level, and lifestyle choices. 

IN THIS EPISODE, YOU’LL FIND OUT…

• The 4% rule of wealth (01:00)
• The comfortable ‘poor level’ of the wealthy (02:59)
• What does it mean to be comfortably off? (05:23)
• How much does a comfortably wealthy person have? (06:46)
• What does it take to be comfortably rich? (09:05)
• How rich is rich? (11:26)

QUOTES

“At the end of the day, all we’re doing is playing the game of business and finance.” -Carl Taylor

“What is rich to me is a really valuable self-reflection, and I encourage you to do it too.” -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. 

It’s a story as old as time—the seven-year itch. That milestone in a relationship when couples often feel they’ve “grown apart” and aren’t sure what to do next. The seven-year itch is a common phenomenon amongst couples, and it can be downright terrifying for some people. 

What about business? Does the seventh year of running a business feel like an itch? You have been making progress over the past six years, but now you’re feeling stuck and wanting to do something different. Have you run out of ideas or is it time for a change?

In this episode, I talk about the seven-year itch in business. I discuss the common warning signs that signal that it’s time to make a change, and how to go about making those changes. I also offer advice on how to stay motivated during this transition period so you can keep your business moving forward. 

I share how I successfully navigated the seven-year itch and came out stronger on the other side. I hope this episode will help you recognize when it’s time for a change, and give you the courage to make it happen.

IN THIS EPISODE, YOU’LL FIND OUT…

• What is the seven-year itch? (00:29)
• Should you sell or shut down your business? (01:15)
• How to identify the missing needs of your business (03:14)
• How to create an impact on others (04:54)
• Identifying the things that you don’t enjoy in your business (06:02)

QUOTES

“Sometimes what you need to fall back in love with your business, is a shift in perspective.” -Carl Taylor

“What’s important to you is going to be different to what’s important to me.” -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.