EP 037: It’s Grant stepping in for Charley this week.
(Charley is moving house)

Yep - I have hijacked the show notes!

And what better episode to do it on than the touchiest subject ever…
Your partner -vs- the Assets and Liabilities columns.

…This is ONE OF the most critical topics…

And will likely determine a large amount of the results you get in life.

To the extent that I have asked Hazel what other people do at night?

Was it watch Netflix and chill -or- watch a good documentary?

As a business owner, this is extremely logical to me.

An asset is something that brings me money.

A liability is something that costs me money.

For me to become wealthy, I need more assets than liabilities.

Even to go so far that removing liabilities off my balance sheet is a core strategy I use to increase profitability.

Why?
No matter if I am talking about a service we are delivering, products we are selling, an investment property we have bought,

I look at the $$ they bring in and compare them to the $$ they cost me.

And then, I either remove the liabilities, swap the asset out for a better asset - because we never want to accept losing money.

And an unpopular opinion is this:
Your partner can either be a tailwind or a headwind in your journey.

They can be an asset by helping propel you forward,

Or they can be a liability by drawing you back and creating resistance.

It is a hard conversation to have out loud, let alone only internalising it.

But it has been a topic a few members have asked us about.

In this week’s episode:
 ○ Where does your Partner sit on your Balance Sheet? Asset or Liability?
 ○ How to approach a partner who is a liability

Prefer to listen or watch?
You can hear Charley and I discuss these topics in more detail on the podcast 
Click here to tune in: https://linktr.ee/businessandinvestingcom

—————————

Where does your Partner sit on your Balance Sheet? Asset or Liability?

To be completely honest…
You will have read that question and deep down you already know the answer.

Fortunately (or unfortunately), this isn’t rocket science.

Just like in business - assets create money but liabilities take money.

So, all we are looking for from our partners is the difference between:
Asset behaviour -vs- liability behaviour

But before we dive in, I need to remind you (and myself)...
Just like assets and liabilities, with time, they always change.

I constantly need to evaluate them.

Something that was an asset 2 years ago could become a liability today.

Think about stock on shelves, computers, software, etc.

The same goes for our partners…
Albeit we need to look at a longer time horizon and not just replace it in a split-second decision.

In the episode, Charley and I talk about the red flags that we have personally looked out for in our relationships to identify a partner with a liability.

Here are a few of them:

1 - Constant Roadblocks
As business owners, we always need to evolve and change.

It’s how we win.

As we change, it will impact our business, employees, customers and…
Our partner.

The last thing we need is a partner who constantly blocks or resists the change.

Especially when the change we made is positive and could lead to new heights.

One important point to mention here is that this includes if they allow you to do it, BUT, it creates a ‘tax’.

Meaning that they will allow you to do something but you now owe them something.

2 - Lack of Goals
I know that you and I have personal goals and aspirations.

Heck, we wouldn’t be business owners if we didn’t.

It’s the main reason I leap out of bed every morning.

I have goals in fitness, wealth, family and business that I want to achieve.

But what happens if my partner doesn’t have goals?

It doesn’t mean they need to try and change the world like you.

(Not to mention there is something very attractive about someone who has aspirations.)

And the main point I want to make is that I have seen relationships where one person had goals and started achieving them…

Then their partner felt left being

It created a large, irreparable divide between them

3 - Minimal Support
In the episode, I shared a personal experience I had with one of my previous partners, so be sure to check it out.

I shared a story about a previous partner of mine.

She was an amazing person.

But, every time I went to her for support, she would try to one-up me to prove why she was in a worse position and needed support

There is nothing worse than not having a partner to lean into.

And a reason why I dove into meditation and yoga as my support system.

Now, I could just say that this was all her fault…
But a great reminder is - this goes both ways!

Yes, my partner needs to provide that shoulder for me to cry on.

But, if it is ME who always needs a shoulder to cry on and nothing is ever good…

That’s not a partner problem, that’s on me.

4 - Soft Ethics and Core Values
This should almost go without saying… but… seems constantly pops up.

My partner and my ethics must align.

For me, I was brought up in a home where we were taught to never lie, steal, cheat, etc.

Even to the extent that my Mum would give me a ‘love tap’ to remind me to say ‘thank you’ to someone.

This behaviour has extended into how I do business.

I am fierce at business but I treat everyone with respect, never lie, never steal, etc.

The impact on me, my belief system, etc would be dire if my partner didn’t align.

5 - No Trust of Faith
As business owners, we are always trying to achieve something we have never achieved before in our lives.

And it means that we will constantly miss and need to re-align.

I have made many business decisions during my relationship with Hazel.

At the time, they were great ideas.

Albeit most have turned positive, there are a few that have negatively impacted both of us.

The key is that Hazel trusts me and has faith that I will ‘figure it out’.

I couldn’t imagine how hard it would be if she kept saying “I told you so” when things didn’t work out.

A partner who does not have faith in you and doesn’t trust you can achieve it is a red flag.

6 - Constant Negativity
My ability to push through adversity is what has always defined my success.

Every time I lost a big client, team members left, etc as long as I was positive, I could find a way.

Having a significant other who continues to push me up is a cheat code for my success.

But on the other side…
Having a partner who constantly brings me down with their problems is a recipe for disaster.

To the point that it isn’t a competition.

It doesn’t matter whose problems are worse, seemingly more important, etc.

If I ever see myself avoiding my partner due to not wanting to be brought down, I am running in the opposite direction!

This is a big topic and we dive deeper into each of these points and more in the episode.

—————————

How to approach a partner who is a liability

If you have read my stories above and feel as though you are in a situation where your partner is a liability…
I just want to say that I have been there.

I have had long-term relationships, where it turned out my partner was a liability.

And unfortunately, I was the one who needed to call it.

Did I delay the decision?
Definitely!

Did I put more time into the business to avoid it?
You bet!

Did I think that we could work through it?
Of course!

But there was one thing above all else that I realised…
I only have one life
And that life is too short to spend it with a liability.

And I want that one person I spend the rest of my life with to be my asset
(and for me to be theirs.)

You are no different.

You are already (or going to) crushing business, wealth and life!

And if you do want someone to share that journey with you, they need to be an asset.

But before you look at your situation, believe it’s FUBAR (f’d up beyond all repair) and about to rip the bandaid…

Just walk through the steps that Charley and I outlined first.

It might actually avoid a major mistake…

Step 1 - Work on yourself first
Just know that as business owners, we can be (and are) selfish.

We need to be aware that everything does not revolve around us.

And some of the time, the reason our partner is acting the way they do is because of us.

They are reflecting on what we have done to them.

Or, they are shutting their doors to avoid more pain.

So, we first need to assess if we are triggering the issue.

Step 2 - Communicate
Most relationships break due to a lack of open communication.

Share your feelings, thoughts and emotions with your partner.

Talk about your dreams and aspirations for the relationship.

Share this email and the podcast with them.

And both of you should discuss the dream.

Step 3 - Get the third part help
I must say this first:
It is DUMB that society sees couples who get professional help as having ‘problems’.

This is a symptom of a bad society, not a bad relationship.

Relationships are a skill,

And skills need to be developed by both parties in a relationship.

Nobody was ever born with the natural ability to be a great partner,

So both of you should strive to develop the skill, especially as this is a team sport.

To continue that point…
Even if your partner is an asset, you should both develop your relationship skills.

Step 4 - Never hold onto a relationship too long
It sounds cliche, but know that it is not your job is not to change someone.

If you have followed the steps above and nothing has changed…

It might be the time to make the tough decision.

Call it for what it is and end the relationship.

But just remember, once you have actioned your decision, it is final,

So, do not rush it.

And for those of you who progressed through the steps and found your partner could become an asset (or realised that they already were),

Charley also covered a great way to further optimise and run a great relationship.

Everything from how to run it like a business and be team players,

And some very powerful tips that are only in the episode…

—————————

Be on the lookout…

Coming up next week, Charley and I talk about how big our emergency funds are.

But more importantly… how we use them.

This will be an episode you won’t want to miss!

So, be sure to catch the episode by making sure you are subscribed to the podcast!

Episode Highlights:
00:00 Welcome!
01:30 Why having the right partner is critical to your success
08:30 How to know if your partner is an asset or liability
16:53 Your partner’s ethics, trust, and faith
23:20 What to do if you see your partner as a liability
33:39 How business skills can be applied to your relationship
43:34 Practising accountability and being a team player

If you enjoyed this episode, be sure to subscribe, tune in and share this podcast!





Resources:
○ Business and Investing website: https://www.businessandinvesting.com/


Subscribe: 
○ Subscribe on Youtube: https://www.youtube.com/@businessandinvesting
○ Subscribe on Apple Podcast: https://podcasts.apple.com/au/podcast/business-investing/id1607453342


Connect with Business and Investing: 
○ Join the Business and Investing Community: https://www.facebook.com/groups/440140397804480
○ Follow us on Facebook: https://www.facebook.com/businessandinvestingcom
○ Follow us on Instagram: https://www.instagram.com/businessandinvestingcom
○ Follow us on TikTok: https://www.tiktok.com/@businessandinvestingcom
○ Send your enquiries or drop by to say hello: grant@businessandinvesting.com


DISCLAIMER:
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

EP 037: It’s Grant stepping in for Charley this week. (Charley is moving house) Yep - I have hijacked the show notes! And what better episode to do it on than the touchiest subject ever… Your partner -vs- the Assets and Liabilities columns. …This is ONE OF the most critical topics… And will likely determine a large amount of the results you get in life. To the extent that I have asked Hazel what other people do at night? Was it watch Netflix and chill -or- watch a good documentary? As a business owner, this is extremely logical to me. An asset is something that brings me money. A liability is something that costs me money. For me to become wealthy, I need more assets than liabilities. Even to go so far that removing liabilities off my balance sheet is a core strategy I use to increase profitability. Why? No matter if I am talking about a service we are delivering, products we are selling, an investment property we have bought, I look at the $$ they bring in and compare them to the $$ they cost me. And then, I either remove the liabilities, swap the asset out for a better asset - because we never want to accept losing money. And an unpopular opinion is this: Your partner can either be a tailwind or a headwind in your journey. They can be an asset by helping propel you forward, Or they can be a liability by drawing you back and creating resistance. It is a hard conversation to have out loud, let alone only internalising it. But it has been a topic a few members have asked us about. In this week’s episode:  ○ Where does your Partner sit on your Balance Sheet? Asset or Liability?  ○ How to approach a partner who is a liability   Prefer to listen or watch? You can hear Charley and I discuss these topics in more detail on the podcast  Click here to tune in: <a href="https://linktr.ee/businessandinvestingcom">https://linktr.ee/businessandinvestingcom</a> ————————— Where does your Partner sit on your Balance Sheet? Asset or Liability? To be completely honest… You will have read that question and deep down you already know the answer. Fortunately (or unfortunately), this isn’t rocket science. Just like in business - assets create money but liabilities take money. So, all we are looking for from our partners is the difference between: Asset behaviour -vs- liability behaviour But before we dive in, I need to remind you (and myself)... Just like assets and liabilities, with time, they always change. I constantly need to evaluate them. Something that was an asset 2 years ago could become a liability today. Think about stock on shelves, computers, software, etc. The same goes for our partners… Albeit we need to look at a longer time horizon and not just replace it in a split-second decision. In the episode, Charley and I talk about the red flags that we have personally looked out for in our relationships to identify a partner with a liability. Here are a few of them: 1 - Constant Roadblocks As business owners, we always need to evolve and change. It’s how we win. As we change, it will impact our business, employees, customers and… Our partner. The last thing we need is a partner who constantly blocks or resists the change. Especially when the change we made is positive and could lead to new heights. One important point to mention here is that this includes if they allow you to do it, BUT, it creates a ‘tax’. Meaning that they will allow you to do something but you now owe them something. 2 - Lack of Goals I know that you and I have personal goals and aspirations. Heck, we wouldn’t be business owners if we didn’t. It’s the main reason I leap out of bed every morning. I have goals in fitness, wealth, family and business that I want to achieve. But what happens if my partner doesn’t have goals? It doesn’t mean they need to try and change the world like you. (Not to mention there is something very attractive about someone who has aspirations.) And the main point I want to make is that I have seen relationships where one person had goals and started achieving them… Then their partner felt left being It created a large, irreparable divide between them 3 - Minimal Support In the episode, I shared a personal experience I had with one of my previous partners, so be sure to check it out. I shared a story about a previous partner of mine. She was an amazing person. But, every time I went to her for support, she would try to one-up me to prove why she was in a worse position and needed support There is nothing worse than not having a partner to lean into. And a reason why I dove into meditation and yoga as my support system. Now, I could just say that this was all her fault… But a great reminder is - this goes both ways! Yes, my partner needs to provide that shoulder for me to cry on. But, if it is ME who always needs a shoulder to cry on and nothing is ever good… That’s not a partner problem, that’s on me.
4 - Soft Ethics and Core Values This should almost go without saying… but… seems constantly pops up. My partner and my ethics must align. For me, I was brought up in a home where we were taught to never lie, steal, cheat, etc. Even to the extent that my Mum would give me a ‘love tap’ to remind me to say ‘thank you’ to someone. This behaviour has extended into how I do business. I am fierce at business but I treat everyone with respect, never lie, never steal, etc. The impact on me, my belief system, etc would be dire if my partner didn’t align. 5 - No Trust of Faith As business owners, we are always trying to achieve something we have never achieved before in our lives. And it means that we will constantly miss and need to re-align. I have made many business decisions during my relationship with Hazel. At the time, they were great ideas. Albeit most have turned positive, there are a few that have negatively impacted both of us. The key is that Hazel trusts me and has faith that I will ‘figure it out’. I couldn’t imagine how hard it would be if she kept saying “I told you so” when things didn’t work out. A partner who does not have faith in you and doesn’t trust you can achieve it is a red flag. 6 - Constant Negativity My ability to push through adversity is what has always defined my success. Every time I lost a big client, team members left, etc as long as I was positive, I could find a way. Having a significant other who continues to push me up is a cheat code for my success. But on the other side… Having a partner who constantly brings me down with their problems is a recipe for disaster. To the point that it isn’t a competition. It doesn’t matter whose problems are worse, seemingly more important, etc. If I ever see myself avoiding my partner due to not wanting to be brought down, I am running in the opposite direction! This is a big topic and we dive deeper into each of these points and more in the episode. ————————— How to approach a partner who is a liability If you have read my stories above and feel as though you are in a situation where your partner is a liability… I just want to say that I have been there. I have had long-term relationships, where it turned out my partner was a liability. And unfortunately, I was the one who needed to call it. Did I delay the decision? Definitely! Did I put more time into the business to avoid it? You bet! Did I think that we could work through it? Of course! But there was one thing above all else that I realised… I only have one life And that life is too short to spend it with a liability. And I want that one person I spend the rest of my life with to be my asset (and for me to be theirs.) You are no different. You are already (or going to) crushing business, wealth and life! And if you do want someone to share that journey with you, they need to be an asset. But before you look at your situation, believe it’s FUBAR (f’d up beyond all repair) and about to rip the bandaid… Just walk through the steps that Charley and I outlined first. It might actually avoid a major mistake…
Step 1 - Work on yourself first Just know that as business owners, we can be (and are) selfish. We need to be aware that everything does not revolve around us. And some of the time, the reason our partner is acting the way they do is because of us. They are reflecting on what we have done to them. Or, they are shutting their doors to avoid more pain. So, we first need to assess if we are triggering the issue. Step 2 - Communicate Most relationships break due to a lack of open communication. Share your feelings, thoughts and emotions with your partner. Talk about your dreams and aspirations for the relationship. Share this email and the podcast with them. And both of you should discuss the dream. Step 3 - Get the third part help I must say this first: It is DUMB that society sees couples who get professional help as having ‘problems’. This is a symptom of a bad society, not a bad relationship. Relationships are a skill, And skills need to be developed by both parties in a relationship. Nobody was ever born with the natural ability to be a great partner, So both of you should strive to develop the skill, especially as this is a team sport. To continue that point… Even if your partner is an asset, you should both develop your relationship skills. Step 4 - Never hold onto a relationship too long It sounds cliche, but know that it is not your job is not to change someone. If you have followed the steps above and nothing has changed… It might be the time to make the tough decision. Call it for what it is and end the relationship. But just remember, once you have actioned your decision, it is final, So, do not rush it. And for those of you who progressed through the steps and found your partner could become an asset (or realised that they already were), Charley also covered a great way to further optimise and run a great relationship. Everything from how to run it like a business and be team players, And some very powerful tips that are only in the episode… ————————— Be on the lookout… Coming up next week, Charley and I talk about how big our emergency funds are. But more importantly… how we use them. This will be an episode you won’t want to miss! So, be sure to catch the episode by making sure you are subscribed to the podcast! Episode Highlights: 00:00 Welcome! 01:30 Why having the right partner is critical to your success 08:30 How to know if your partner is an asset or liability 16:53 Your partner’s ethics, trust, and faith 23:20 What to do if you see your partner as a liability 33:39 How business skills can be applied to your relationship 43:34 Practising accountability and being a team player If you enjoyed this episode, be sure to subscribe, tune in and share this podcast! 
 
Resources: ○ Business and Investing website: <a href="https://www.businessandinvesting.com/">https://www.businessandinvesting.com/</a> Subscribe: ○ Subscribe on Youtube: <a href="https://www.youtube.com/@businessandinvesting">https://www.youtube.com/@businessandinvesting</a> ○ Subscribe on Apple Podcast: <a href="https://podcasts.apple.com/au/podcast/business-investing/id1607453342">https://podcasts.apple.com/au/podcast/business-investing/id1607453342</a>
 Connect with Business and Investing: ○ Join the Business and Investing Community: <a href="https://www.facebook.com/groups/440140397804480">https://www.facebook.com/groups/440140397804480</a> ○ Follow us on Facebook: <a href="https://www.facebook.com/businessandinvestingcom">https://www.facebook.com/businessandinvestingcom</a> ○ Follow us on Instagram:<a href="https://www.instagram.com/businessandinvestingcom"> https://www.instagram.com/businessandinvestingcom</a> ○ Follow us on TikTok: <a href="https://www.tiktok.com/@businessandinvestingcom">https://www.tiktok.com/@businessandinvestingcom</a> ○ Send your enquiries or drop by to say hello: <a href="mailto:grant@businessandinvesting.com">grant@businessandinvesting.com</a>
 DISCLAIMER: All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

It’s absolutely possible for a business owner, like you, to have it all. The only limiting factor to success in your business and in your life is you, the business owner!

The Business & Investing podcast exists to help you overcome your limits. Hosted by successful Australian entrepreneurs Grant Merriel and Charley Valher, the show is dedicated to sharing information, insights and tools to help business owners, like yourself, build a stable, thriving business that unlocks your money and life goals.

Grant and Charley both dive into their own experiences with their fellow Australian business owners and trusted professionals to help you become the best Full Stack Business Owner.

*Disclaimer - We are just like you, Australian business owners, and everything we discuss is intended for entertainment and educational purposes only and is not financial advice. Always seek professional advice before making any decision when it comes to wealth creation.

It’s absolutely possible for a business owner, like you, to have it all. The only limiting factor to success in your business and in your life is you, the business owner!
The Business &amp; Investing podcast exists to help you overcome your limits. Hosted by successful Australian entrepreneurs Grant Merriel and Charley Valher, the show is dedicated to sharing information, insights and tools to help business owners, like yourself, build a stable, thriving business that unlocks your money and life goals.
Grant and Charley both dive into their own experiences with their fellow Australian business owners and trusted professionals to help you become the best Full Stack Business Owner.
*Disclaimer - We are just like you, Australian business owners, and everything we discuss is intended for entertainment and educational purposes only and is not financial advice. Always seek professional advice before making any decision when it comes to wealth creation.

Helping business owners generate wealth inside and outside of their business.

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