With so many vehicles available to potentially invest in, what is the best financial investment opportunity for you? Clay breaks down the importance of consistency, dollar cost averaging and more.
Step 6 – Choose the right investment vehicles and the right advisors (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
DEFINITION MAGICIAN – Dollar-cost averaging (DCA) – is an investment technique of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price. The investor purchases more shares when prices are low and fewer shares when prices are high.
Step 7 – Know how to accurately price your products and services (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
If you want to Franchise:
FACT: If you bought something in January of 1971 for $2,000, today it would cost you $12,455.63 for the same thing.
FACT: In 1999, Clay Clark used to be able to buy 4 yogurts for $1, today the yogurts are nearly $1.00 per yogurt.
NOTABLE QUOTABLE – “Inflation is taxation without representation.” – Milton Friedman
NOTABLE QUOTABLE – “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.” – Alan Greenspan (The former Chairman of the Federal Reserve)
FACT – August 15, 1971: A Date Which Has Lived In Infamy – President Richard M. Nixon announced the Job Development Act of 1971 on August 15, 1971, that would incentivize American businesses to invest in new machinery and equipment to create more jobs, etc.
NOTABLE QUOTABLE – President Nixon on August 15th, 1971 – “I will propose to provide the strongest short term incentive in our history to invest in new machinery and equipment that will create new jobs for Americans: a 10 percent Job Development Credit for 1 year, effective as of today, with a 5 percent credit after August 15, 1972. This tax credit for investment in new equipment will not only generate new jobs; it will raise productivity; it will make our goods more competitive in the years ahead.
Second, I will propose to repeal the 7 percent excise tax on automobiles, effective today. This will mean a reduction in price of about $200 per car. I shall insist that the American auto industry pass this tax reduction on to the nearly 8 million customers who are buying automobiles this year. Lower prices will mean that more people will be able to afford new cars, and every additional 100,000 cars sold means 25,000 new jobs.
Third, I propose to speed up the personal income tax exemptions scheduled for January 1, 1973, to January i, 1972-so that taxpayers can deduct an extra $50 for each exemption 1 year earlier than planned. This increase in consumer spending power will provide a strong boost to the economy in general and to employment in particular…I have directed Secretary Connally to suspend temporarily the convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States.” – President Richard Nixon…Psss…also here is a little secret…OH AND BY THE WAY THE U.S. IS ALSO NOT GOING TO BE TIED TO A GOLD STANDARD ANYMORE…SO I CAN JUST PRINT MONEY WHENEVER I WANT TO…
U.S. would no longer officially trade dollars for gold. – Forbes – https://www.forbes.com/sites/briandomitrovic/2011/08/14/august-15-1971-a-date-which-has-lived-in-infamy/
Step 8 – Know the true cost of employees (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
3 P’s of business
Step 9 – Develop your accounting routines (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
ACTION ITEM – You must schedule a specific time to review your accounting each week.
ACTION ITEM – You must schedule a specific place to review your accounting each week.
ACTION ITEM – You must make sure that you have the specific items that you need to do your accounting each week:
Step 10 – Avoid these cash flow killers (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
Attend the world’s best business podcasrs workshop, led by america’s number one business coach for free by subscribing on itunes and leaving us an objective review, claim your tickets by emailing his group that you didn’t, and your contact information to cancel at drivetime, show.Com facebook back to the drive time show on your radio, my clock in the former us sba entrepreneur of the year on my partner, dr. Robert, zoellner and i. We built 13 multimillion-dollar businesses together and i. Tell you what we want to give you and teach you the systems that we have used to do it, and you can only really learn the system if you’re willing to invest the time needed to know I learned about to apply them. I want to make the step for the first step very easy for you. So every day we do a radio show, with your last time, I checked as free and we do a podcast. That’s that’s free, and so occasionally I have to ask you to do something. Someone ask you during the best business podcasts to do something here. A little little action step. I need every listener to go to drive. Time should I come to the front of time, should I come I need you to download a free copy of our book. The start here. It’s called start your amazon best-seller, and if you will download that book, that will absolutely change your life. If you read in the client talk to a woman yesterday in her 50s true story, she said:i read the book and I got my accountability. Paid I like printed off and I ripped it out of my book and i, signed it and put up on my on my mirror and she was i. Don’t know I’m weird but like I’m, actually getting on top of everything. For the first time in my life, I could look at my head of my type I’m, not behind I’m, not overwhelmed with my business and I sound kind of cheesy, but I didn’t know. If you wanted me like text it to you or put it on the inside of embarrassed, my name on it and I said that right there.
My friend is what I’m talking about. That’s? Why we do it to the book is available for free to download right now. It’s an amazon bestseller I can’t tell you how long it’ll be available for free I might need to take it off there. Eventually, you can download the book for free right now today by going to the best business podcasts thrive time show.,, if you download the start here book, which is a free fat, free gift for you. If you download the book it’s going to benefit, you know one thing:it would help other people out there, people that are out there kind of struggling to get on top of their business in in their success is, if you would find, if you go to drivetime show.Com, you click on the podcast button. Once you go to thrive time shown you click on the podcast, but misses a new fancy button that we’ve just put on the website and see where tonight is it going to podcast button there we have a button where you can subscribe and relieve us a review and if you’ll just subscribe, the podcast and leave us an objective review. I will even give you another free I’ll, give you two free tickets to our next in person. Drive time show workshop know:we’ve had thousands of people attend our workshops, thousands of thousands I used to travel all over the world. Speaking if you look up my name, clay, clark and maytag university I used to charge people thousands of dollars to speak at these tanks.
Maytag university spoken for o’reilly auto, parts, ups I mean big companies hewlett-packard, you know, and we will give it to you free all. You got to do is subscribe, and so you just going to drive time show.Com cooking the podcast button. Damn you subscribe, give you two free tickets to the next in person, workshops at easy game, changing event. Notch up. What is our next move is. Were teaching me, eight game-changing accounting moves for small business, I step, 6, choose the right investment vehicles and the right advisors. Okay, again, if you’re out there and you don’t have a financial advisor i, don’t know what I don’t know. I honestly, don’t know what you’re doing. If you don’t have a financial advisor or listen to the best business podcasts i, don’t know what you’re doing, if you don’t have a financial advisor I’m, not sure why you’re not reaching out to one I’d encourage you to go to hood cps.Com that hood hood. How do you say i, like food nobody’s actually is not spring for me, go to cbs.Com and schedule your first consultation with him and he will help you find the right financial vehicle for you and your life now, there’s all at the sake of time, they’re not going to worry about with him, but I’m just going to give you a kind of discovery of the option. Hp you want to save 3% of your gross revenue, so you meet with paul he’s going to ride away. Ask you:how can we cut expenses by 3%, crease mike spence by 3% hill, also really put an emphasis on how to increase your income by 3%. There’s, usually some things you could do some levers, maybe at work you could put in an extra hour or two you ask your best business podcasts boss. Can I do some overtime you might be able to unplug cable, reduce the package. You have what you want to save 3% increase regal battery percent that produces 6%. Then you want to invest into me very conservative because you don’t want to lose the money. You said you’re making you don’t you? Don’t you don’t work super hard, then lose it. You know what you’re a business owner you’ve been working very hard to earn that money.
She want to make sure you don’t lose all that money by investing in high-risk fix. So there are other stocks bonds. Mutual funds. There’s annuities is a lot of products out there, but I would highly recommend everybody I’m. Just how are you go to hood cps.Com right now and schedule a meeting with him? You can choose the right investment vehicle for you and your own, but be conservative I mean look at it. Don’t don’t be don’t be an idiot I mean don’t don’t invest in some high-risk hi. Everybody just a few months ago, was buying the bitcoin bitcoin bitcoin bitcoin, the current cost of a bitcoin, the current cost of a bitcoin. What is the current cost of a bitcoin today, $6,856 6000? What was the peak value of the bitcoin currency chica got to know it was north of 15,000, it was at 17 $19,343, so I am on the show, but I I know pretty pretty well. Who was getting up getting the other bunch of best business podcasts buddies and I know he bought it and north of 15th, so I’m just saying, but then like now, it’s weird how much 6? Yes, what the thing is. You want to buy things when they’re value below and then sell them when they said hi, and you only consist of its called dollar cost averaging I want to put this on the show notes:dollar cost averaging it’s where you invest a set amount of your income consistently in something. So you just every week without thinking about you just take 3% of your. You know you totally 3% of your earring,. You save into something i, don’t think about it. It’s just every week, 3% or 43% 2% on sony 42 the office in boom. But you that’s how you get ahead. You got to save money. You got to do anything. You want to decrease your expenses by how much 3% you want to increase your income by how do you get when you talk to your boss, hey boss? How can I increase my income by 3% made?
This is a real question. You can ask your boss. If anybody comes me and asked me just heard a young lady says he can come by 3% increase my income. Is it cool your next project? What happened at the bar on friday I’m leaving the office guy says I want to make some extra money. We work from college. You know how can I do that and you just you just did this? What you do I mean I’m, just telling you I always have always have more sources of income for are employed. There is a bad way to do that. To you don’t go in demand more best business podcasts money, you wouldn’t you look for not block to oklahoma city. True you did I was your boss, I would just kind of drive-by and what’s up guys, I hope you guys find another job. Hopefully dairy queen hiring over that have dairy queen city. If you guys have hopefully she’ll hire, you guys, I mean cuz. There’s a lot i, really hard working entrepreneurs out there, making less than you guys a lot of quiktrip employees, making a lot less than you guys are chick-fil-a employees making less and you guys, if you don’t see them striking. You know why cuz they chose that job. Are you talking about? Are you are you? Are you are you? Are you talking about you yet I’m, not talking about who you think I’m talking about no, no I’m, not talking about that. We go back. We’ll get ahead. Stay tuned to claim your tickets to the drive time show today and erected business workshop for free. All you have to do is to subscribe to the drive time, show on itunes, leaving injected review and send his confirmation and then drive time, show. Com, to claim your star international star registry.
We can’t help you it’s more than just a talent. Show talent, shows i, demonstrate my lack of talent for everybody, it’s just listening and it seemed the video clay was just doing some incredible hand. Dancing dancing is amylase, know. There’s that there’s there’s nobody i, don’t know anybody from elijah. Nor do I speak their language, so it could not be verified that it is polyester. There is not doors. So I call it that it seems exotic and people love like dropping concrete, and thank you. How do you seen? How do you seen the european chocolate? Nobody makes better chocolate in the europeans. Have you seen this dude I want to pop it off. I will do showcase into the ground. I mean people, they love european. Anything is different. It’s you know what I like about european I like how they all smoke, I like how the economy stagnant, i, like how a lot of brown teeth, l, populous i, really do like in europe that that smoking is sort of a prerequisite and I love its post religion, cuz, the depressions hire more people are depressed (not our best business podcasts listeners) in this post is enlightened. Smoking and I know so much about how everything works, but they can’t stop smoking. It’s so amazing know so much about how they have the history of the universe and cosmology and then I know a lot about stephen hawking in this. So, smart, that’s why they’re all depressed and divorced I love the european coach. It’s so awesome! I left the economy, never gross i! Really I really did the fact that the economy never grows its own I love it a fleet’s, never win anything I’ve done the olympics I love, they don’t they’re, not fast apprentice. They don’t win in basketball. I left it there. This sport to always second I love the fact that we had to revolt against them to start a free country, but I love. It anything that you see repeat that is now considered to be smart.
True, unbelievable europeans rrstar are sending over here that I’m a I’m. A fan of you know that I could say that I’m like okay. That’s it that’s the thing. German-made anyting is pretty much good, but the germans are starting to me. Wars me and I just did, but it seems like the german this is how they run their office did the germans I’m. Actually german german german, my grandmother, german german officers, they say hans, do you have the prototype for the volkswagen just hunt season I’m eating sauerkraut, while watching david hasselhoff I did not finish it always yelling. No one ever talks like,, you did not get the prototype and he said. I was eating that talk, talk and then the third party, and if that’s not too far, we have to wait list all the sudden swimming pools at night. They start to many more to be look up. The history of these people I’m seriously nice vehicles in nice product with these best business podcasts guys they’re always wanted to go to war. I mean they got. You guys got to get me out of work. Go up there to switzerland, hang out for a while and learn the idea of the not going to more people deep breathing, be more passive, aggressive! That’s what america is all about. America is all about passive aggressive. The germans are just going to tell you they’re like who are the people in russia, I fight, you yeah, i, fight, I fight? Did you vote for putin or I kill you I may kill you anyways 90% approval ratings, it’s like, if you don’t vote for me, I’ll, take you to court ivan drago. What’s the next tip word teaching here wants to know how to accurately price your products and services again, you have to actually know how to price your product. Isn’t so few people know how to do that because that really taught anywhere, but you wouldn’t want to make sure making a 20 to 25% profit margin, if at all possible, because that’s what makes a business bank about so tell them to put a bunch of things in the show notes real fast.
Here we go out. If you want to franchise, your business I can help you do that. Okay, so if you want to just email info at drivetime, show.Com give existing company I can help you franchise. But if you don’t have these things done, I can’t help you franchise and no one can you have to have what’s called an item 19 and item 19 at the 19th item on a franchise disclosure document and our videographer mr. Andrews been in meetings with phone doctors, if you’ve seen me help to take them into the franchise in world at 11 locations, and that means, if your store has to make a profit after paying franchise fees of at least 15%. If you don’t have an item 19 that shows your profitable at least 15%. The franchisee who wants to buy a franchise cannot get approved for a small business loan, because any banker in the world is not going to lend money to a company makes a 3% profit margin. It has to be profitable at a 15% rate. Without you doing anything, show me when you are not actually best business podcasts working. It still has to be profitable at a 15% does it makes it like the business system has to work without the owner doing anything at a profit margin of 15% or more that’s an item at work. You have to do that right. Then then, you have to make sure that you have an item 7 and item 7 will state only pull it up here on the on. The show me pull this up to this. Is this is big item 7 on a franchise disclosure document pulling this up here on the best interweb? So you can see the item. 7 item 7 chevy about him. 7 hold up there in 7 to get over here. I am seven ok google.
It goes over the initial katniss. If this is the seven categories of expenses detailing item 7, okay, it covers the initial franchise fee, the training expenses, the real property with her purchase, released the equipment, fixtures, construction, decorating, cost weather purchased, or least initial inventory, the security deposits business licenses. It’s all the things that costs needed to run the business, and so again the item number 7. It’s absolutely essential. You have it documented somewhere, so you couldn’t ever franchise your business, if you didn’t 1/2, show a profit margin of 15% after paying franchise fee, and if to you, didn’t have all your expenses document right. So you have to have a lot of 19. That’s what that is that’s deep distance to statement of best business podcasts profitability of the income item number 7, though, is the statement of expenses. If you don’t have that, you can’t franchise until every small business owner, whether you want to franchise or not, you have to know these things and nobody wants to talk about it, and so it’s almost like with business coaching people reach out to us to help them grow their business, which we do dramatically. That’s all the success stories. People always like to talk about their success stories, but people typically don’t want to talk about the the expenses. They don’t talk about the profitability, but you have to shop. For the sake of time, let’s move on to step number 8 know the true cost of employees. You actually know what it cost you to hire, somebody it’s not just their hourly wage of their salary and again for second time. If you attend our in-person workshop, we will help you determine the true cost of employees. Not tell you what you have what you find a good employee. You want to pay them well, so they can stick around I mean you want to keep employees on your team for as long as possible right you want to treat people well, you want to pay people, it’s called the three piece of business, but you wanna make a good profit.
You want to make sure you have good people and you and make sure you have a product or service that you’re proud to show your mom. That’s what it is I mean you have a product or service or proud to show your mom. That’s why I would never own a vape store right. The profit has to be good right. Any of the people that you, like you just really killed, the vaping, yeah I did I did I was thinking about making almost like a display case in a glass case, an elephant the room. So we could display all the fabulous of vaping tools used by employees. Take this plow that skated from the what are some really nice technologies are used in. There could be some other uses, probably but down and put them on display for all the customer to see what is it coming out? There called messick roofing has been around since 1962, and you know why cuz they have good employees at find good employees. Then they keep their 3-piece tail for a great product that people are happy to leave a favorable review about, because I do a good job. They make a profit, that’s fair, we don’t take advantage of a customer and they have great people, and so, if you’re out there on your roof is leaking because you know, what’s going to happen, you have kind of a little bit of a leak, we’re going to get hit with these monsoons here in april in april, just rains and rains and rains, and you want to make sure that you know that you get the roof clean up before the flights come down, get the the rains came, the rain came down in the floods, came up, rain came down in the floods, came up, the rains came down and the floods came up. That’s why you got to call my significant a what’s their phone number 918-747-7141 918-747-7141, that’s 918-747-7141 call best business podcasts messick roofing. Before the rains come down right, you want to the rains come down and the floods go up. The rains come down in the flats go up if your roof is leaking in the rain tour. Coming down, you’re going to flood your house, it’s going to be expensive and can talk. Okay, yeah, tim, essick roofing.Com, it’s misic roofing.Com! Also, this time of year there’s a huge problem. We have right now with mosquitoes it’s going to happen, mosquitoes bugs everywhere, and you have control your past call another great company, platinum pest & lawn. Okay, want to call these guys are. Phone number is 918-747-7000 where you can find podcast 101 business coaching conference is in a video library of thousands of videos outside from mentors, and we liked in the show, with a boom study further at dude 100