EPISODE 199

EP 199: The Money Stuff

March 9, 2021 Team Klinck
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Today I’m joined by a special guest, my friend Mel Abraham. We talk about the realities and challenges of being an entrepreneur. But we also get down and dirty and discuss the money stuff and what it means to build wealth and affluence.

Mel shares how a medical diagnosis changed his life and allowed him to accept where he was in life. But he also realized that the business he had built allowed him to step back from the daily operations so he could fight cancer without worrying about money. It also inspired him to think about why he was here and how his experience and knowledge could help others.

Join us as Mel talks us through how entrepreneurs can think about their money stories and blocks, make smart decisions about money, and define what it means to create a richer lifestyle.

What You'll Learn in Today's Episode

  • How money stories impact us
  • Why your business can be the best engine to help you generate wealth
  • Why you need to optimize your business profits to create a financial machine
  • Why you shouldn’t reinvest all your profits back into your business
  • Why you need to diversify your income streams and plan for the inevitable
  • What your business margins and allocations should look like in an online business
  • How to think about wants vs. needs and be intentional with your money
  • How to think about investing
  • The difference between productive debt and destructive debt
  • Why wealth is measured in time and not dollars

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