EP 011: Take a second to imagine running your business without tracking anything.

No sales numbers, no marketing numbers, no financial reports, no time sheets, no stock levels.

How would you know if you are on track or off track?
How would you know if you need more stocks or less stocks?
How would you know if your marketing is working or if you need a new strategy?

Without tracking, it’s next to impossible to make good decisions or run a business well.

I’ve met business owners who run their business on “gut feel” and 99% of the time, it leads to absolute disaster. (I’m sure you have also!)

Anyhow, I’m sure I don’t need to convince you that tracking the numbers in your business is crucial.

Which is why bringing tracking to your wealth is just as important.

So in this episode of the podcast, we go through how to track your wealth and the process we use to do so.



Episode Highlights:
00:00 Introduction
01:52 Has Charley always tracked his wealth?
04:31 Grant’s wealth tracking journey
08:41 The benefits of wealth tracking
09:04 Benefit #1: Constant realignment with wealth goals
11:57 Benefit #2: Ability to look at historical comparisons
14:50 Benefit #3: Making data-backed investing decisions
16:46 Benefit #4: Illustrating your borrowing capacity
19:39 Benefit #5: Ability to sleep well at night
21:38 Benefit #6: Risk mitigation
24:26 Why many of us suck at tracking wealth
26:34 Finding a network that supports your wealth goals
30:46 Benefit #7: Forecasting
33:38 The essential numbers to track
38:16 Diving deeper into the balance sheet
41:43 Understanding your wealth position
46:54 The best tools for wealth tracking
53:22 Why you should hire a bookkeeper

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



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

○ Download Our Free Wealth Tracker https://businessandinvesting.com/the-ultimate-wealth-tracker-for-business-owners

○ Episode 004: Creating Wealth Goals as a Business Owner — What’s Enough? https://businessandinvesting.com/ep-004-creating-wealth-goals-as-a-business-owner-whats-enough/

○ Tiller HQ https://www.tillerhq.com/

○ Xero https://www.xero.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 011: Take a second to imagine running your business without tracking anything.
No sales numbers, no marketing numbers, no financial reports, no time sheets, no stock levels. How would you know if you are on track or off track? How would you know if you need more stocks or less stocks? How would you know if your marketing is working or if you need a new strategy? Without tracking, it’s next to impossible to make good decisions or run a business well. I’ve met business owners who run their business on “gut feel” and 99% of the time, it leads to absolute disaster. (I’m sure you have also!) Anyhow, I’m sure I don’t need to convince you that tracking the numbers in your business is crucial.
Which is why bringing tracking to your wealth is just as important.
So in this episode of the podcast, we go through how to track your wealth and the process we use to do so.
 
Episode Highlights: 00:00 Introduction 01:52 Has Charley always tracked his wealth? 04:31 Grant’s wealth tracking journey 08:41 The benefits of wealth tracking 09:04 Benefit #1: Constant realignment with wealth goals 11:57 Benefit #2: Ability to look at historical comparisons 14:50 Benefit #3: Making data-backed investing decisions 16:46 Benefit #4: Illustrating your borrowing capacity 19:39 Benefit #5: Ability to sleep well at night 21:38 Benefit #6: Risk mitigation 24:26 Why many of us suck at tracking wealth 26:34 Finding a network that supports your wealth goals 30:46 Benefit #7: Forecasting 33:38 The essential numbers to track 38:16 Diving deeper into the balance sheet 41:43 Understanding your wealth position 46:54 The best tools for wealth tracking 53:22 Why you should hire a bookkeeper
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>
○ Download Our Free Wealth Tracker <a href="https://businessandinvesting.com/the-ultimate-wealth-tracker-for-business-owners">https://businessandinvesting.com/the-ultimate-wealth-tracker-for-business-owners</a>
○ Episode 004: Creating Wealth Goals as a Business Owner — What’s Enough? <a href="https://businessandinvesting.com/ep-004-creating-wealth-goals-as-a-business-owner-whats-enough/">https://businessandinvesting.com/ep-004-creating-wealth-goals-as-a-business-owner-whats-enough/</a>
○ Tiller HQ <a href="https://www.tillerhq.com/">https://www.tillerhq.com/</a>
○ Xero <a href="https://www.xero.com/">https://www.xero.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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