Today, we’re going to tackle the elephant in the room.
In this episode of the Modern CEO podcast, I get down and dirty with a topic that a lot of people don't really like to talk about – money!
Studies have shown that people would rather talk about politics and religion than this topic, but as business owners, we've just got to do it!
Women, in particular, tend to resist talking about their financials – we often don't ask for the raises we deserve or negotiate when we're taking on a new project, so learning to talk dollars is a huge key to being professionally successful. Doubly so, if you run your own business!
It's a fact – people who have reached self-made millionaire or billionaire status tend to talk about their money and their revenue goals with people who are in their inner circles so that they can support each other in reaching their goals.
So this podcast episode is all about talking about that C-A-S-H money, baby!
In this episode, I discuss:
- How super-successful entrepreneurs discuss their financial goals and issues
- How often you should check in and update your numbers and forecast – and the big psychological benefits of doing so
- The reasons why you feel that wall of resistance when it comes to looking at your finances – and how to climb over that wall
- Why your forecast is a CRUCIAL ingredient for an effective spending
- And, finally: how to build your all-important revenue plan!
Hopefully, this episode will help you get a little more comfortable thinking, talking, and planning about money so that you can really get your business on track to hit those revenue goals!
Let's Get Started!
Highlights:
2:05 The importance of talking about money
2:49 The super-successful entrepreneurs' approach to financial discussions
5:30 The importance of checking in on your finances and forecasts
6:55 How your forecast helps you pinpoint where to invest in your business
8:03 Building your financial discussion inner circle
9:33 Businesses that have a revenue plan in place tend to grow faster than those that don't – build yours!
11:30 Getting intentional with your plans
13:30 Is your profit where you want it to be?
16:25 How often should you be looking at your expenses?
Thank you for listening! Be sure to subscribe on Apple Podcasts or Google Play and leave a review!
Mentioned in this episode:
Business Brilliant: Surprising Lessons from the Greatest Self-Made Business Icons by Lewis Schiff
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
