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Business Coach Tips on Tax Time

Business Coach Clay Clark: So anyone listening right now, you’re saying if you’re going to, lets say that someone made $100,000 this year just to keep it, the math straight here. And lets say they owe $40,000 of taxes between state and federal. Just throwing out some broad numbers here. You’re saying that you could invest the money into, what kind of vehicles can we invest in, what kind of vehicles should the average self employed person listening, maybe consider investing it?

Business Coach 282

Chris: There’s always the market, so you’ve got, I mean, I’m a big believer in the markets. But, there is a broad portfolio you need. You don’t just need to put it all in the market. You don’t put all your eggs in one basket. So taking it and diversifying it in different things, that’s what makes these interest contracts so much easier, so much less to, less of a hassle. They’re on autopilot like a lot of what you talked about here is auto piloting your financial future and setting aside a certain amount of money. Those kinds of things are so important to the business owner because if he doesn’t set it aside, it’s gonna be put back in the business and spent on something. So, he’s got to set it aside and pay himself for the future.

Clay Clark: And how do you recommend, I mean Business Coach Z, I wanna ask you this because you’ve done this with your advertising, as an example. You’ve set up some sort of guardrail it appears, where you’ve been able to say hey, I’m gonna set aside a set percentage of money for advertising so you don’t have to think about it. And yet I see a lot of entrepreneurs that start advertising, they stop. They start, they stop. I’m sure, Chris, you see people financially do this. They start investing, they stop. So I’m gonna start with you, Z. If you wanna automate, lets say your marketing or automate your advertising, how have you been able to kinda set it and forget it with your advertising dollars?

Dr. Zellner: Well what I’ve done is I make a budget for the year and then I take a percentage, the percentage was much higher when I started off. It was high as 10% day one, okay? So, I make a budget. I put that in and then I do a yearly contract. If you go in and you negotiate things in bigger chunks of time you can get a better deal on it. And I don’t always go and negotiate in January because that’s when they sold the lease and they were the most desperate, so I would go in, lock in that good low rate for the year and I would negotiate for the year, and then it would just happen. I would belly up- [crosstalk 01:11:36]

Clay Clark: Are you saying we have to look forward to a year, a year, we can look forward to a year of those wonderful commercials airing right now on 106.9. Can we look forward to that for a year?

Dr. Zellner: Absolutely. I go in every month to make a fresh one, a new one. I do it typically the last Tuesday of the month. It’s kinda my set schedule on that, unless I can’t, unless I have to reschedule that. But, yeah you just go in, you make a commitment and that’s for the year, you know business coach? And, there’s some things that I have and there’s some caviots if something goes wrong I can bail out of it, but by doing that, giving them a longer commitment, I get free or I get more stuff. I get more add ons. In other words they’ll say, okay, for that year’s contract we’ll give you some remote. For that year contract we’ll give you every tenth ad not sold. For that contract we’ll give you some digital on our website. It gives you much bigger bargaining that going in saying, yeah I’d like to buy one TV ad and see if thing works.

Clay Clark: You tried to, I remember you were negotiating with the station and you said hey, if I do five years, can I get my Z tattooed on Pat Campbell’s head? The host of the morning show. And they were like, no we can’t do that, Z.

Dr. Zellner: They did. It’s flesh tone.

Clay Clark: Okay, okay. Now Chris, I wanna ask you this, if I’m listening and I want to automate my financial future, I’m going okay I know. I gotta do it. I know I’ll make bad decisions if I have to make decisions I’ll make bad decisions. What’s step one? How can they get their financial situation turned around?

Chris: Number one, they need to call me.

Clay Clark: What’s your phone number?

Chris: 918-591-2880 or they can go to the website, You’ll see my business partner, Phil Pickle’s face, my face. I’m the pretty one.

Clay Clark: Oh yeah, look at that. The beauty up there. Oh you business coach!

Chris: I know.


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