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WELCOME

WELCOME. Financial Elevation Series –Your Business Finances – Part 2. Before a person can Succeed, they must first learn to Survive. Time To Have a Stable Business. BUSINESS FINANCES & MANAGING YOUR MONEY. “Take Control of Your Cash Flow” . MAKING MORE MONEY

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WELCOME

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  1. WELCOME Financial Elevation Series –Your Business Finances – Part 2 Before a person can Succeed, they must first learn to Survive.

  2. Time To Have a Stable Business BUSINESS FINANCES & MANAGING YOUR MONEY

  3. “Take Control of Your Cash Flow” MAKING MORE MONEY BUDGETING YOUR MONEY (Personal Discipline) PAY YOURSELF FIRST FOCUS ON REDUCING YOUR PERSONAL DEBT. IMPROVING YOUR FINANCIAL INFORMATION

  4. If you’re serious about building positive cash flow in your business & life, you have to start with the fundamentals of financial literacy. Here’s a quick quiz to get yourself going. Put a 1 next to any of the following questions to which you would answer yes: ___ Do you routinely pay your bills late? ___ Have you ever hidden a bill from your spouse? ___ Have you neglected repairing the car because of insufficient funds? ___ Have you bought something recently that you didn’t need and couldn’t afford? ___ Do you regularly spend more than your pay check? ___ Have you been turned down for credit? ___ Do you buy lottery tickets in the hope of getting out from under your debt? ___ Have you put off saving money for a rainy day? ___ Does your total debt (mortgage excluded) exceed your rainy-day reserve? “What do you do when you find yourself in a hole?” Stop digging!! Add up the numbers in the boxes. ______ • If your score is 0, that’s great! You’re already in control of your cash flow. • If you scored in the 1–5 range, you may want to think about reducing your bad debt. • If you scored in the 6–9 range, watch out! You may be headed toward financial disaster.

  5. MAKING MORE MONEY! Cash-Flow Program

  6. You need three key ingredients: A financial statement (know where you are financially) 2. Personal discipline 3. A game plan that’s going to take you where you want to go

  7. Income through Organisation (Recruit) Income through Customers (Retail) Multiple Streams of Income B Quadrant: Multiple income streams Income Why an Organisation S Quadrant: Single income stream Time

  8. BUDGETING YOUR MONEY A Budget Is a Plan Definition of theword “budget” is: a plan forthecoordination of resources and expenditures.

  9. Start your business with a AN ACCOUNTING SYSTEM Whydoes my moneydisappear? • YourEarn $1.00 • YouSpend $1.20 Ifyouspend more – Thereis no MONEY (SURPLUS)

  10. Start a Budget A Budget A stepto control thedirection of yourmoney And ithelpslowerStréss! TwoTypes of Budgets 1. Business 2. Personal

  11. Start a Budget AnIncome - it’simportanttoknowhowmuchyouearn and howmuchyouspend! Whichbudgetisbetter?

  12. Start a Budget

  13. Start a Budget INCOME Salary HERBALIFE -Retail Profit -Wholesale -Royalty -Bonus Dividends-Stocks, Bonds, Mutual Funds, SavingAccounts, CD, etc Real Estate Rents OtherIncome Total Income $4200 EXPENSES Tithing 10% Active Capital 10% Passive Capital 10% Taxes Rent Electricity Auto Insurance Food Telephone Vacations Restaurants CreditCards Loans Total $3800 Net Cashflow $ 400

  14. Start to Build Your Wealth Administer Your Business Money Well • “Ifnot, youwillnothave a business” “KNOWING WHY YOU ARE NOT DOING WELL FINANCIALLY, MAKES ALL THE DIFFERENCE.” JIM ROHN

  15. FOUR ENVELOPE ACCOUNTING

  16. FourEnvelopeAccounting SeperatetheCostfromtheProfit

  17. FourEnvelopeAccounting You can have other envelopes

  18. FourEnvelopeAccounting 10% Business 10% Emergency Personal Expenses Retail $100 Cost $50 Profit $50 Active $5.00 Passive $5.00 Expenses $35.00 Tithes $5.00 10% Tithing

  19. The End

  20. Tips On Budgeting. #1 – A budget surplus is an expense. #2 – Your expense column is a crystal ball. #3 – Use assets to pay for liabilities. #4 – Spend to get rich.

  21. 3rd THE IMPORTANCE OF A SURPLUS

  22. How Do You Avoid Debt? You do this, byspending Less, thanwhatyouearn.

  23. Your Accounting WhyDoesYour Money disappear? • You Earn $1.00 • You Spend $1.20

  24. The Financial Part Of Your Business “KNOWING WHY YOU ARE NOT DOING WELL FINANCIALLY, MAKES ALL THE DIFFERENCE.” JIM ROHN

  25. 5Tools youhavetoemploy in yourbusiness! MAKING MORE MONEY PROTECTING YOUR MONEY BUDGETING YOUR MONEY LEVERAGING YOUR MONEY IMPROVING YOUR FINANCIAL INFORMATION

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