Surprisingly, most entrepreneurs aren’t exactly sure what milestones they want to reach when it comes to their business. Of course, they want to be successful and make money, but rarely can they pinpoint what they believe is enough to live life on their own schedule.
Some might measure success as having time to do whatever you please while others consider success to be the amount of profit your business makes. Creating the life you desire requires clearly defining what you want and knowing what numbers make the most sense fin...
Surprisingly, most entrepreneurs aren’t exactly sure what milestones they want to reach when it comes to their business. Of course, they want to be successful and make money, but rarely can they pinpoint what they believe is enough to live life on their own schedule.
Some might measure success as having time to do whatever you please while others consider success to be the amount of profit your business makes. Creating the life you desire requires clearly defining what you want and knowing what numbers make the most sense financially both in life and in business.
In this episode, Rocky Lalvani, host of the “Profit Answer Man” podcast, reveals the trick to designing life with the end in mind, why knowing your numbers is critical to success, and how starting small lets you keep moving forward.
In this episode, you’ll also hear:
- Reverse engineering business around your lifestyle
- Implementing a Profit-First approach
- Creating reasonable goals and planning to get ahead
Mentioned in this episode:
Book: Profit First
The Profit First method can benefit businesses in a variety of ways. By prioritizing profit, businesses are forced to operate more efficiently and make strategic decisions that prioritize long-term financial health.
Additionally, setting aside profit before anything else ensures that businesses have a cushion for unexpected expenses or economic downturns. Ultimately, the Profit First method can help businesses achieve sustainable growth and financial stability.
For more information on Profit First and how it can turn your business into a profit-making machine read these articles:
The Profit-First Method vs Traditional Accounting
How to Implement Profit First in Your Business
Benefits of Using Profit First in Your Business’s Finances
Must-listen moments:
[00:04:59] If you haven't defined the end, you can't technically reverse engineer it. Most people don't know what they want, don't define the end, or haven't taken the time to do that. When you take the time to do that, now you can start to say, is this taking me towards or away from what I want.
[00:11:24] It's how you build your business model and the intention you put into it, and learning not to listen or do what everyone else does. I think that's where people if they don't understand the numbers, they can't make the wisest decisions.
[00:29:56] Start small and let it build. Because when you start winning, you're going to continue to win.
Connect with guest, Rocky Lalvani:
Website- https://profitcomesfirst.com/
Podcast - https://profitanswerman.libsyn.com/
Facebook - https://www.facebook.com/ProfitComesFirst/
Instagram - https://www.instagram.com/profit_answer_man/
LinkedIn - https://www.linkedin.com/company/profit-comes-first/
This podcast is edited and managed by the team at PodcastAbundance.com and we’d love to produce your podcast too! To discuss working together, book a Discovery call with me. www.talktovirginia.com
You’ll find equipment & software recommendations, downloadable templates, and podcasting how-to videos at www.PodcastAbundance.com/resources
Watch everything on YouTube @PodcastingForFinancialPros
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To become a guest or find other episodes of Podcasting for Financial Professionals (formerly known as Reaching Abundance), visit www.podcastingforfinancialprofessionals.com
