In this episode I’m joined by my good friend, and returning guest to the podcast, Mel Abraham, to discuss something that no one seems to be talking about. You’re going to hear why being a successful entrepreneur means so much more than just making money! This is a longer episode, but one that really is required listening for anyone in business.
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I want to invite you to help contribute to this podcast by submitting a question for the Listener Question of the Week edition of The Mind Your Business Podcast. All you have to do is go to http://jameswedmore.com/QA and record a question (under 4 minutes or less) that could be featured on an upcoming episode!
In the episode you’ll hear:
My own past money issues that I’ve worked through and how I did it
What we should be looking for instead of just more money
The common mistakes Mel sees entrepreneurs making when it comes to their money mindsets
A way to reframe how we view taxes and the investments we make in our business
What the “Profit First” system is all about
How fixed and variable costs differ and the importance of knowing this
What amount we should be putting away for the future and a good profit margin goal to aim for
Why someone being an “overnight success” is a myth
Profit First by Mike Michalowicz
The Millionaire Fastlane by MJ DeMarco
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