Cash flow emerges as a top challenge, affecting both personal and business realms. Growing up with financial struggles can contribute to these issues. The key question is: How can we reprogram ourselves and make necessary changes?. 

In today’s episode, Adam talks about the importance of mindset reprogramming, prioritizing profitability, and implementing effective money management practices with Bryan Santos.

Business owners often believe that securing more clients and assembling the right team will solve their financial problems. However, even with these in place, cash shortages persist. So why continue working if profits are insufficient? While making an impact is important, financial stability matters.

Being self-employed sometimes means paying oneself less than one would earn working for others. Business owners expect their hard work to yield financial rewards, but often revenue increases without corresponding profits. To address this, a shift from focusing solely on generating revenue to effective money management is crucial.

Ignoring financial management blinds business owners to their true financial status. The "she'll be right" mentality fails to provide a clear understanding of the business. Transitioning from a tradesperson to a business owner requires a mindset change, as emotional attachment and a lack of cost awareness can hinder progress.

Starting a business requires factoring in future expenses, such as new staff, higher wages, and equipment replacement costs. Hidden costs, if not accounted for, can jeopardize the business's success.

Regularly reviewing financial numbers and seeking help when needed are essential. Understanding your business's financial health ensures better financial outcomes.

Gain valuable insights and practical tips to address your financial challenges. Don't miss out—tune in today!



Discussion Points:
00:00 Welcome to Tradie Business School Podcast
01:22 The Number One Problem Business Owners Face
03:26 The Problem Business Owners Have With Money
05:28 The Money Will Follow Rather Than the Profit Will Follow
08:07 The Hidden Costs of a Company
10:17 The Seven-year Mark is a Trick
11:58 Current and Future Expenses and Hidden Expenses
13:27 Factoring in the Cost of Equipment Loan Repayments
15:29 Why You Need to Get a Visual on Where You’re at and on a Regular Basis



Resources:
Chat us at ​​hello@tradiebusinessschool.com
Visit the Tradie Business School website (https://tradiebusinessschool.com/) 
Join us on our FREE Facebook Group (https://www.facebook.com/groups/gamechangingtradies) 

You can also connect with us on https://au.linkedin.com/company/the-game-changers. For more podcast episodes, visit our website at https://tradiebusinessschool.com/. 

Subscribe to The Tradie Business School on 

Apple Podcast: https://podcasts.apple.com/ph/podcast/tradie-business-school-podcast/id1544187908

Spotify: https://open.spotify.com/show/0k08gdcQypSXHcoYFpJ58A?si=qNZk1ul9QG-uI4PQ6ivcog

Google Podcast:
https://bit.ly/3YxQQfh

Thank you for tuning in!

Cash flow emerges as a top challenge, affecting both personal and business realms. Growing up with financial struggles can contribute to these issues. The key question is: How can we reprogram ourselves and make necessary changes?. 
In today’s episode, Adam talks about the importance of mindset reprogramming, prioritizing profitability, and implementing effective money management practices with Bryan Santos.
Business owners often believe that securing more clients and assembling the right team will solve their financial problems. However, even with these in place, cash shortages persist. So why continue working if profits are insufficient? While making an impact is important, financial stability matters.
Being self-employed sometimes means paying oneself less than one would earn working for others. Business owners expect their hard work to yield financial rewards, but often revenue increases without corresponding profits. To address this, a shift from focusing solely on generating revenue to effective money management is crucial.
Ignoring financial management blinds business owners to their true financial status. The "she'll be right" mentality fails to provide a clear understanding of the business. Transitioning from a tradesperson to a business owner requires a mindset change, as emotional attachment and a lack of cost awareness can hinder progress.
Starting a business requires factoring in future expenses, such as new staff, higher wages, and equipment replacement costs. Hidden costs, if not accounted for, can jeopardize the business's success.
Regularly reviewing financial numbers and seeking help when needed are essential. Understanding your business's financial health ensures better financial outcomes.
Gain valuable insights and practical tips to address your financial challenges. Don't miss out—tune in today!
 
Discussion Points:
<ul>
<li aria-level="1">00:00 Welcome to Tradie Business School Podcast</li>
<li aria-level="1">01:22 The Number One Problem Business Owners Face</li>
<li aria-level="1">03:26 The Problem Business Owners Have With Money</li>
<li aria-level="1">05:28 The Money Will Follow Rather Than the Profit Will Follow</li>
<li aria-level="1">08:07 The Hidden Costs of a Company</li>
<li aria-level="1">10:17 The Seven-year Mark is a Trick</li>
<li aria-level="1">11:58 Current and Future Expenses and Hidden Expenses</li>
<li aria-level="1">13:27 Factoring in the Cost of Equipment Loan Repayments</li>
<li aria-level="1">15:29 Why You Need to Get a Visual on Where You’re at and on a Regular Basis</li>
</ul>
 
Resources:
<ul>
<li aria-level="1">Chat us at ​​<a href="mailto:hello@tradiebusinessschool.com">hello@tradiebusinessschool.com</a> </li>
</ul>
<ul>
<li aria-level="1">Visit the Tradie Business School website (<a href="https://tradiebusinessschool.com/">https://tradiebusinessschool.com/</a>) </li>
<li aria-level="1">Join us on our FREE Facebook Group (<a href="https://www.facebook.com/groups/gamechangingtradies">https://www.facebook.com/groups/gamechangingtradies</a>) </li>
</ul>
You can also connect with us on <a href="https://au.linkedin.com/company/the-game-changers">https://au.linkedin.com/company/the-game-changers</a>. For more podcast episodes, visit our website at<a href="https://tradiebusinessschool.com/"> https://tradiebusinessschool.com/</a>. 
Subscribe to The Tradie Business School on 
Apple Podcast: <a href="https://podcasts.apple.com/ph/podcast/tradie-business-school-podcast/id1544187908">https://podcasts.apple.com/ph/podcast/tradie-business-school-podcast/id1544187908</a>
Spotify: <a href="https://open.spotify.com/show/0k08gdcQypSXHcoYFpJ58A?si=qNZk1ul9QG-uI4PQ6ivcog">https://open.spotify.com/show/0k08gdcQypSXHcoYFpJ58A?si=qNZk1ul9QG-uI4PQ6ivcog</a> 
Google Podcast: <a href="https://bit.ly/3YxQQfh">https://bit.ly/3YxQQfh</a> 
Thank you for tuning in!

The Tradie Business School gives you the skills to run your business like a business owner instead of spending your days chasing your tail. Run by trade-industry experts, we understand the challenges you’re facing and know how to get your business working more smoothly and profitably.

The Tradie Business School gives you the skills to run your business like a business owner instead of spending your days chasing your tail. Run by trade-industry experts, we understand the challenges you&rsquo;re facing and know how to get your business working more smoothly and profitably.

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