How To Achieve Financial Success in Your Business

Managing business finances is like a journey through a dense forest. Business owners must first understand the purpose of their business, like having a compass to navigate through the woods. Along the way, they must avoid common mistakes, such as chasing money and using the business as a personal bank account, which can lead to financial distress. With the help of financial education and like-minded professionals, they can use the Profit First method to manage their finances and eliminate financial distress, leading to a more comfortable and stress-free life. By prioritizing profit over revenue and pursuing strategic growth, they can reach the end of the forest and find financial freedom.

In this episode of the ToolShed Podcast, I talk to Marisa Punshon, who specializes in helping business owners achieve financial success. Marisa is a Profit First Professional and has been a Growth Partner for The Entourage since 2015, running workshops on and providing support in Financial Management and Money Mindset. Her approach involves empowering business owners with financial education and helping them understand their numbers.

Key takeaways:

• Profit is essential for every business, and it should be the focus of your financial planning
• Financial stress can cause health issues, family breakdowns, and other problems in your life
• Financial education is vital to making accurate financial decisions for your business
• You need to be aware of the future and plan for it to minimize discomfort or distress
• Growth always involves pressure or discomfort, but it's necessary for success
• You need to understand your business's purpose and goals to engineer your finances to achieve them
• Having a coach or mentor can help you navigate financial management challenges and achieve your goals

All this and more, on this week's episode of THE TOOLSHED.

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Next week, we discuss conversations and support crews for mental health with Jason Banks. So, remember to subscribe to the show to get that episode as soon it gets released. Until then, stay healthy.

Links:

• marisapunshon.com.au/
• the-entourage.com/