Summary
In today’s episode, we tackle the reality of building a sustainable business that works for you and your lifestyle. Listen in as we discuss the challenges of moving away from business practices that may have been financially beneficial but emotionally destructive. We start with the topic of debt and explore how to balance the need to build something sustainable while navigating the emotional depth of supplementing income and having less money during the transition. We’ll also share the importance of financial literacy in understanding our numbers and the pitfalls of getting stuck in the hamster wheel of always having to make more money.
Join us as we explore the importance of setting realistic expectations when transitioning out of a full-time job and into a business. We’ll cover the significance of understanding and planning for the financial implications of the transition, creating a business model that works for you, and knowing what the bigger picture of your business is. We emphasize the importance of recognizing that business growth and success do not happen overnight and discuss the advantages of pacing yourself for sustainable business growth. Don’t miss this insightful conversation on money, finances, and debt in business.
Chapters & Key Points
Money, Finances, and Debt in Business (12 Minutes)
Today I’m discussing the reality of building a sustainable business that works for you and your lifestyle. We’re unpacking the process of moving away from business practices that may have been financially beneficial but emotionally destructive. Starting with debt, we look at the challenge of balancing the need to build something sustainable while navigating the emotional depth of supplementing income and having less money while building out something sustainable. We also discuss how to build the business in a way that works for you and the importance of financial literacy in understanding our numbers. Lastly, we touch on the importance of not getting stuck in the hamster wheel of always having to make more money and enjoying the money we have.
Financial Planning for Launching a Business (4 Minutes)
We explore the importance of setting realistic expectations when transitioning out of a full-time job and into a business. We discuss the importance of understanding and planning for the financial implications of the transition and creating a business model that works for you. We also discuss the importance of knowing what the bigger picture of your business is and what will make you financially comfortable. Lastly, I emphasize the importance of recognizing that business growth and business success does not happen overnight.
Pacing for Sustainable Business Growth (5 Minutes)
We’re looking at the importance of pacing when it comes to building and scaling a business. It can be tempting to go hard and fast, but a slower approach can be more sustainable in the long run. We discuss the advantages of a slower approach, such as building relationships, creating a steady schedule, and focusing on SEO marketing. We also examine the importance of setting financial goals and creating a plan that will lead to financial security and success. Finally, we discuss the importance of finding something that feels good to do while building your business.
Episode Keywords
Business, Financial Literacy, Debt, Income Supplementation, Sustainable Business, Financial Rewards, Money, Launching a Business, Realistic Expectations, Pacing, Financial Goals, Business Growth, Relationships, Steady Schedule, SEO Marketing, Financial Security, Success, Emotional Well-Being
