The Influential Personal Brand Podcast Numbers You Need To Know
6 snips
May 23, 2025 Many entrepreneurs overlook their finances, jeopardizing their success. Discover the three crucial numbers every business owner should track each month. Learn the importance of separating personal and business finances, no matter your revenue. Understand the critical distinction between tax filing and tax planning. Explore a straightforward system for money management and budgeting for profit. This discussion is a vital resource for anyone looking to navigate their business finances and drive growth without the overwhelm.
AI Snips
Chapters
Transcript
Episode notes
Know Your Business Numbers
- If you don't know your numbers, you don't actually own a business; you have a hobby.
- Knowing how much money came in, went out, and what's left is fundamental to owning your business.
Separate Finances and Bookkeep
- Separate your business and personal finances completely, including accounts and credit cards.
- Use bookkeeping systems monthly, starting with spreadsheets if needed, and upgrade as your business grows.
Plan Taxes Strategically
- Have a tax planning strategy, not just a tax filing strategy, focusing on entity structure and legitimate deductions.
- Pay your fair share of taxes but avoid overpaying by proper planning.