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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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slide1

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
Time To Have a Stable Business

BUSINESS FINANCES & MANAGING YOUR MONEY

take control of your cash flow
“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

slide4

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.

slide6

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

multiple streams of income

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

budgeting your money a budget is a plan
BUDGETING YOUR MONEY

A Budget Is a Plan

Definition of theword “budget” is: a plan forthecoordination of resources and expenditures.

slide17
Start your business

with a

AN ACCOUNTING SYSTEM

Whydoes my moneydisappear?

  • YourEarn $1.00
  • YouSpend $1.20

Ifyouspend more – Thereis no MONEY (SURPLUS)

start a budget
Start a Budget

A Budget

A stepto control thedirection of yourmoney

And ithelpslowerStréss!

TwoTypes of Budgets

1. Business

2. Personal

start a budget1
Start a Budget

AnIncome - it’simportanttoknowhowmuchyouearn and howmuchyouspend!

Whichbudgetisbetter?

start a budget3
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

start to build your wealth
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

four envelope accounting
FourEnvelopeAccounting

SeperatetheCostfromtheProfit

four envelope accounting1
FourEnvelopeAccounting

You can have other envelopes

four envelope accounting2
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

slide30

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.

slide31

3rd

THE IMPORTANCE

OF A SURPLUS

how do you avoid debt
How Do You Avoid Debt?

You do this, byspending

Less, thanwhatyouearn.

your accounting
Your Accounting

WhyDoesYour

Money disappear?

  • You Earn $1.00
  • You Spend $1.20
the financial part of your business
The Financial Part Of Your Business

“KNOWING WHY YOU ARE NOT DOING WELL FINANCIALLY, MAKES ALL THE DIFFERENCE.”

JIM ROHN

5 tools you have to employ in your business
5Tools youhavetoemploy in yourbusiness!

MAKING MORE MONEY

PROTECTING YOUR MONEY

BUDGETING YOUR MONEY

LEVERAGING YOUR MONEY

IMPROVING YOUR FINANCIAL INFORMATION