Wealth Building Strategies: How to Budget, Invest, and Raise Your Prices with Brandon Kidd

Quick question: Do you look at your business as a piggy bank or an ATM? Oof. When my kind/smart/generous friend, Brandon Kidd, asked me this question ya girl had to take a pause… During that pause, a cinematic flashback of fancy dinners, upgraded plane tickets, and unnecessary business purchases flew through my mind. It turns out that making business purchases can be a slippery slope to funding your lifestyle, and we NEED to have more conversations around that. This is exactly why I asked Brandon, wedding photographer and business strategist, to be a guest on the podcast and share some of the magic-ness inside of his brain with you. In this episode, you’ll learn strategies for financial stability, how to make informed financial decisions, ways to invest in growth, and the significance of building wealth that transcends your life and business. Click play to hear all of this and… (00:00:14) How I met Brandon and our shared experiences in life and business. (00:02:18) How to know if you’re treating your business as a piggy bank or an ATM (and how it affects your financial growth.) (00:05:59) The importance of aligning lifestyle choices with your business goals. (00:07:40) How to use business funds wisely to help the business grow and make operations more efficient (00:09:31) How you should think of your ROI when making business decisions and evaluating expenses. (00:13:55) How to determine your pricing in the service-based industry. (00:12:19) How to transform excess cash into wealth. (00:19:00) Why you should analyze your conversion rates. (00:20:15) The airline pricing model and how to apply it to your pricing strategy. (00:25:19) The concept of diversifying revenue streams and managing cash flow. (00:27:43) The importance of knowing your monthly expenses, hitting income targets, and optimizing your costs. (00:31:46) How to deal with recessions (and the power of diversifying your income sources and living below your means.) (00:35:25) Choices that impact wealth and making conscious budget decisions. (00:39:09) Strategies for building wealth (and investing in other income-producing assets.) (00:44:30) How to apply the "MAX" method to measure business growth and determine smart investments. (00:56:30) Short-term sacrifices you can make to create long-term growth. You can dive deeper into your business finances by booking a free 30-minute call minute call with Brandon >>HERE<<. And visit his website, http://Www.brandonkiddcoaching.com to learn more about his coaching offers! For full show notes, visit: https://jasminestar.com/podcast/episode394 Want an up-close and personal, behind-the-scenes, look into my next million-dollar-launch? Join ‘Inside Look’ to get exclusive insights, lessons, and updates WHILE I’m launching. >>CLICK HERE<< to join the list!