I’ve probably said this 100 times now, but simply growing your business’s revenue is not enough to build your wealth as the owner.
Is a steady stream of sales important for any business? Of course!
Does generating more sales create the potential for better cash flow? Absolutely! But if a business does not manage its expenses as the revenue increases, then profitability suffers, which means the business owner can’t increase their own pay.
The same goes for your personal finances. It’s hard to build wealth if your lifestyle is so expensive relative to your income that you don’t have any money left over to invest in your future.
Few understand this as well as Justin Krane. Justin is a Certified Financial Planner, money strategist, author, and fractional CFO for entrepreneurs.
During my conversation with Justin, we cover:
How to handle the uncertainty of 2020
The biggest misunderstanding entrepreneurs have about their business models and cash flow
Why cash is so important for any online business owner
How to be prepared for the unexpected.
Why entrepreneurs need to have a clear picture of their personal goals