The day I realized that we were $40K in debt was a major turning point in our business. We had maxed out credit cards, had to fire our two employees, and had to figure out a completely new plan for the business.
Changing our business model to selling intensives worked, but we were still hustling all the time, even though we were now making more than enough money to support ourselves, the business, and the life we wanted.
So why keep hustling? I was shell-shocked and scared after going so deeply into debt.
But on our first real vacation later that year, I had two very big realizations: One, I needed a plan that didn’t involve saying yes to every project and hoarding money. Because two, having plenty of cash in the bank wasn’t making me feel more financially secure than I did when we were in debt.
Which led me to two even bigger conclusions: the key to feeling financially secure wasn’t going to be cash in the bank, it was knowing that I could absolutely generate money when I want to. And, I needed to really figure out how much money we needed to live and support our business, while having the life that we wanted.
And that’s how I developed the 50-25-25 Formula for Profit and Freedom. It changed my life and I’m sharing it with you today.
Tune into this episode to hear:
Resources:
Ep 198: Critical Mindset Shifts for No BS Agency Owners: Profit
Ep 197: Ben Guttmann on Why Certain Messages Work and How to Design Them
Ep 196: FAQ: "But Pia, How Long Will It Take to Build My Authority Machine?"
Ep 195: What Nobody Understands About Building the Authority Machine
Ep 194: FAQ: How Can An Authority Machine Lead To Stability and Freedom in Your Business
Ep 193: FAQ: What Exactly is an Authority Machine and How Do We Start One?
Ep 192: Sara Chambers Levels Up Her Business and Goes From Good To Great
Ep 191: FAQ: "But Pia, What if I do the work and the client hates it?"
Ep 190: FAQ: "But Pia, can you actually do quality work in an intensive?"
Ep 189: Intensives 101: What Exactly Is It and How Exactly Do You Do It
Ep 188: Chris Do Drops Truth Bombs on What It Takes to Play on the Big Stage
Ep 187: FAQ: "But Pia, I tried networking and I didn't get anything out of it!"
Ep 186: FAQ: "But Pia, Where Do I Find The Leads?"
From The Archives: How Do You Sell Something That All Your Competitors Are Giving Away for Free?
Ep 185: Marsha Shandur: A Masterclass On Storytelling
Ep 184: You're Already a Badass: Loving Yourself As You Build Your Business
Ep 183: Love Bank: Withdrawals You Must Avoid
Ep 182: Love Bank: Let's Talk Deposits
Ep 181: The Love Bank in Your Client Relationships: The Concept of Deposits and Withdrawals
Ep 180: Kelly O'Connell: From No Business, No Niche to a Profitable Business in Eighteen Months
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Organic Marketing Simplified: Master podcast marketing, fuel podcast growth, and make money podcasting!
THE GO BIZ GUY
The Sigma Femme Podcast
The Prof G Pod with Scott Galloway
The Tim Ferriss Show