Clay breaks down the importance of having a proforma for your business and being intentional about cutting your expenses by 3% and increasing your income by 3%.
Action Item – Work with your coach to create a proforma. A proforma is just a projection worksheet that can be used to predict future financial performance based on known variables.
SUPER MOVE 1 – Cut Your Expenses By 3%
SUPER MOVE 2 – Save 3% of your income and invest in something.
MYSTIC STATISTIC – “8 out of 10 entrepreneurs who start businesses fail within the first 18 months.”
Step 4 – Develop clear goals for your financial future (From Take a Look Under the Hood with Certified Public Accountant with former U.S. Small Business Administration Entrepreneur of the Year, Clay Clark)
This is clay clark on the best business coach mic and can my optical castano pinochet and I’m focused on the mission beach, the skills and kitchen the plans broadcasted from advance to the left, to the portland dance, to see it, and I’ll be to see it? Yes, that would stick it like that man, damnprediction hello, salutations greetings. Will you welcome you back to the dojo of mojo posho? My name is clay clark in the former ussba entrepreneur of the year on a mission to get you into a great financial position. But what are the things that were talking about today is probably the thing that no one wants to talk about the most, which is why I’m going to have to be in rare form today to sell you on the vision of this. It’s 8 game-changing accounting moves for small business. These things, people, don’t people, will tell me I’ve, been coaching for a long time and I’ve helped a ton of clients get into success and it before they start looking at the numbers every single time before they look into the numbers. It’s like they are forty they’re, not making any money there barely surviving. So there you know people are like yeah. You been in business for 20 years in business for 20 years and other people. Why is everyone in the story talking like that sure the community plumbing, like you, wouldn’t believe I bought some best business coach roto-rooter in the field, with people put crazy things in the toilet, so I’ve been going there and getting it out and I’ve been out there just putting on the best siding in oklahoma for over a decade now and I’ve been fixing the brakes for oklahoma for over 20 years now and poor in the crap out of concrete I’ll. Tell you that.
Why is everybody in your story? I’ll tell you why I don’t give a crap about accounting, cuz I’ve been making a ton of money and so I’m just able to bring in that money and just bring it in its? How much are you keep it swear, I’ll tell you we bring in a ton of money. Well, how much do you keep i? Tell you we bring it I’ll bring it up. Why do I have a question mr. Business owner it looks like you got a little like a like a like your holiday trailer. There looks like you got to try. This best business coach trailer in town looks like you got a lot of great on that on that face betrayal. You have a nice trailer, I walk. Tell you. I do looks like your drive down the road. Pretty fast with that trailer I do looks like there’s about a 6-foot hole in the middle that trailer all the grand falls out the middle while you’re driving. That’s why I go faster. To get there quicker got to get there quicker I’ll give you the tell you save money. I’ll tell you what I’m going to do that now I’m going to scale it I’ll, go faster, you’re, not making money, not because you’re, an idiot, not sure about guy, but now that you’ve encountered this information. If you choose not to do anything with it, you then would be an idiot I mean to be tough. That’s a tough statement to say, but let me look up the definition of idiot real, quick. Your job I want to share this with I want to know. Don’t you say my name play say my best business coach name say my name when I’m looking stuff up on the internet say my name I’m, looking up definitions, this is probably the most boring thing I’ve ever encountered. An idiot is a foolish or stupid person.
It is a person affected with extreme mental retardation. Another way of saying idiot is it someone who doesn’t understand the law of cause and effect so I’ll need example, one Example:i’m going to I’ve got in my hand, I’ve got up, I got a water bottle my hand. Give me just a second. Let me finish up this water empty now. Folks, if you can’t see because it’s on the radio now we’re ready, if I had this water bottle and I I hit myself in the face that and I go that really rare back in black at like i, don’t know what’s going on, but it’s my face is getting ready right now. Why is my face? Getting ready to go because you’re hitting your face with a bottle i, don’t understand, I’ve been hit with a bottle. Perhaps I should hit that two negatives make a best business coach positive, so I really smash my face. I was you need another bottle? I’ll beat the red right out of it. I’ll get back to how can I get the payoff bring back the people do all the time, though, and it’s like insanity and i, just i, don’t i, don’t understand it and I’ll tell you that i, don’t trip I struggle to understand this I see this a lot and the end of the good will you know this relates to like the same way. People treat their health a lot or maybe their relationships. They do their finances the same way and you say it all the time and it’s that have to have a break break down before they have their breakthrough come on now and that’s what we’re trying to keep you from having is a financial breakdown within your business, because if you run out of cash, if you run out of the lifeblood of your business, you can’t pay your people and they quit. Then you can’t fulfill on your promises and you go out of business.
So don’t wait for the break down, go ahead and have that break through right now and listen to what this fine man with a small red blood on his face to sing okay, so step 3, step 3, you want to automate your success. What does it mean to automate your success? What you want to do from paul hood, the book that we did to get her her look under the hood, so I’m going to turn my look at the hood book by the way you give you a copy of this. If you come to wear one of my workshops here, okay, so I’m going to run the book turn in the book, 2 page 24, + strip on picture you sites in the show notes, as a page 24 here so paid, 24 lb, look at the book under under the hood or talks about what you want to do. Is you want to cut your expenses by 3%? Whoever you’re spending right now cut your expenses by 3% would do that. Expenses find something I can’t get rid of cable i, can’t siphon internet from your neighbor. Something cut your best business coach expenses by 3%. Have one cell phone I can’t possibly have one car do something. There’s a friend of mine needs to be a teacher, and we have a very sad but fun fun story. He lost his son in a terrible, terrible car accident and his son was my best friend. So that’s the bad part. Then he had a breakthrough. He realized gosh. My best business coach wife is working as a school teacher and she does make a lot of money and we have a second car, so she can drive to work, and then we have a babysitter to watch our kids because she’s work, which cost lot of money right. So they did the math they realize you know what it would be actually come out ahead to not have a car and I have a second job.
A second car, so I have a second phone and do not have our kids go to daycare. The reason why we had the kids was so we could spend time with them. We did not have kids to have someone else raise, but not see them. I know these are offencive ideas, countercultural kind of doing math. So many sad, you recommend that my wife stops working I said yes, and so she stopped working and to this day she doesn’t work and her kids are almost out of high school now and they told me numerous times it was a life-changing moment. It’s great! So again, do you want to automate your success. So what do you want to cut your expenses by 3%? Then move number to hear it? Is you want to save 3% of your income and invest into something how to make your savings? You just go to your financial advisor going to put cbs.Com or someplace or somebody and have them just saved 3% of your gross revenue in to suck your automated your success. You want to set it and forget it so I think about it. Forget it in all areas of my business. You don’t jump for office supplies. I, don’t want to have to think about. Are we out of toner right i? Don’t want to think about it. I want to make sure we always have enough best business coach time. Do we have paper and so I reached out to onyx it hooked on phonics app works for me. What do they do for his my friend so honest? They are a local one, stop shop here in tulsa, for all of your business office needs office supplies they have salmon next day delivery. They price match against any of the big guys or any of the other guys out there, and they will actually, if you have a problem with your printer play, that can shut your business down for the day. If you go to again, it’s onyx imaging.Com, onyx imaging.Com tell him clay. Clark said she will be anybody’s prices on all of your best business coach office supplies and printing.
Automated stay 2 attend the world’s best business 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 ken point, drive, time, show.Com, all right side, mishawaka back to the conversation, we’re talking about a team. Changing accounting moves for small business, 8 game-changing accounting move for business now, I want to make sure that I’m not under selling the importance of grass. When this idea, according to forbes 8 out of 10 businesses, fail 9 out of 10 startups fail. So you understand overall zeta 10 businesses are feeling now it’s crazy. All of the businesses that don’t go out of business, almost 9 out of 10 of those businesses that are in existence, are not profitable. So what this means is that, if you are successful, you’re like that one out of a hundred guy I mean it is so rare, so I’m sure that you mr. Listener are doing what you’re supposed to do. But I’m just saying, having been a business coach for a lot of times for a long time and helping clients really become successful, I’ve discovered that most business owners don’t know how to do it. They just don’t know and i, don’t want to talk about their finance. They don’t want to ask somebody hey how do I get ahead financially, just embarrassing. You know it’s embarrassing to go duck duck duck. How do I get ahead? Financially, I’m, 50 and I got $4 saved. I have enough money. My best business coach paycheck comes in and having justin up every week to make it and I make a lot of money. I make doug we’re, making a lot of money I’m making like what a hundred grand a year you’re making a hundred grand a year.
We were making a lot of money, but I have like $4 saved, because what you’re going to do you ask a question. You know that doug’s going to say it will compare know and you feel like going to make fun of you and people kind of do. We have kind of a culture where people come to make fun of people about these kind of things. So here’s the deal I’m going to help you get to where you want to help. You write so the next step to develop career goals for your financial future step for develop clear goals for your financial future. Another reason why you have to develop clear goals for your financial future. Is it good because by default most people? Don’t do it so I’m going to tell you my financial goals, mr. Listener, if you could, if you could listen in yours, I’ll tell you mine, and then you could tell me your rhetorical things. I, don’t know whether you’re being honest or not, to be honest with you guys are cool to cool food is so my goal is my financial goals are to not have to work at all and then to make everything else. I do to be like bonus, so it’s kind of like sam playing football and we’re already up by 56 till like 7. You know so it’s like the patriots, the new england patriots playing instrument, school team by 56 points at the best business coach halftime at the score. If I was the basketball coach and we were up by 50 points and we had 2 minutes left I would still keep doing a full court press. The elephant in the room get this I pay myself and we go $96,000 a year if my company 9668 thousand a month 96. Why why we buy? You say that mr. Clay, because that pays all of my expenses on all of them and then everything else I do it’s like bonus bonus and then, when I get paid to think and all those books on her bookshelf there I read those books, you know and I have all the systems. In my cranium and I teach people how to grow their business for what comes out to $8.25 per hour 8:25 an hour, and so the reason why I do that is because I want to make sure that it’s a the systems are affordable right and then I want everybody in my office, a goal that I have that’s not to send it.
The goal is realized, but this is the guy I have is I would like for everyone in our office to make $50 an hour as a result of working with our team at call golden handcuffs. So, as we are beginning the process of helping many companies franchise, obviously people could look up and see. Brands and I’ve worked with it. If it have scaled me, oxyfresh has hundreds location to sell a franchise every 3 to 4 days. Are there big guy fresh, look them up in the world? For the word carpet, cleaning quotes to be just type in carpet. Cleaning quotes are number one with a hundred twenty-nine thousand plus reviews. Look at it. Oxy fresh.Com michaels, but I had to sit down for 6 years. I want to just that business to make me 96,000 now the second time I’m not going to get into the other best business coach companies that I can do that with the tides at with. But I would just say: that’s my goal:that’s how I do it you know, and so I don’t need the other ones to be successful at all. So it makes a really terrible to compete with me. Is it I can and I always do start off with having super low prices, because it allows me to kick the legs out from under my competition. It’s like the game, street fighter back in the day where that guy constantly does the snake move. When you go down low and you do as well kick it’s like it’s impossible to stop at the mortal kombat the game that video game. You could not win against that move. You just stay down low and just keep kicking and it’s like there’s no block removed and you offer a no-brainer. You literally can’t lose right so that some moves all I would just says. I know my financial goals, I’m asking you:what are your financial goals? You have to know those girls, because the business is should exist to help you achieve those best business coach goals.
This is where it gets kind of crazy, cuz.. This is why I don’t think the listeners maybe are are getting this cuz I’m, not explaining this well enough, so make sure that we all get this idea? Okay. So what I do is / haircut, i, just wanna make sure we’re getting this idea. Her haircut I have to pay myself a certain amount to hit those goals, so I had to break it down into how much do I pay myself for haircut, because you don’t do that, then what happens is now you’re having an insincere goal so I’m going to tell you that number I pay myself $2.28 per haircut. Okay, are we good good, as we scale I’m, going to continue paying myself $2.28 per haircut? Are we are we getting this idea? So what? If? What? If you do, 10,000 haircuts a month? That would be significantly more money, but right now he’s are franchising. Anything above 96,000 I put all of it back into the company, all of it smart. So if you go to ait ourlounge.Com imma pull it up real, quick, your chip, new contact us, but that looks really good contact us button. I got that thing. Looking sharp now finally feel good about that button. I’ll have to get over that wanted. That page now look at his page. It actually makes sense.
I’ll, nice song, look at that. It’s all there is so handsome look at those are the only way that you are able to achieve success. If you know your goals, you haven’t written down, I have my goals written down baby, because I want to achieve those goals. So again you have to know those go down here. I see a lot of people getting wrong. You don’t have the goals written down, you just don’t have it written down, so we got to sit down and write those goals down to write down your goals for the following six areas of your life:faith, family, faith, family finances, fitness, friendship, it’s fine, that’s faith, family finances, fitness, friendship and fun. That’s what you got to do all of those goals. You put all those goals down now after you’ve done that I want you to write down next to each goal. How much does it cost per week to achieve those goals in doesn’t want to take your kids to church and you go? You live like 20 miles away from church. You know in the fuel prices are 250 gallon and you figured out that it costs about $0.50 a mile to drive a car which one throw that out there. That’s what it comes out to maintenance and car payments whatever, so you figure out:okay, it’s basically $20 a week to go to church to drive there to get there and back okay cool. So then you said I need to have at least $20 a week. I learn so I can afford to drive to church. Don’t move on to our next goal. Family I mean my kids do cheerleading now my wife is probably the most competitive hottest mom in the world, she’s, so competitive and so hot.
So hot I want to taste it I would never argue with you on a radio show about the hotness of our wives, because, what’s going to happen is eventually somebody will lose this discussion. This debate, bye-bye use, weaves, empirical data and fax and i, don’t want to have that discussion. I, don’t even want to get very mad with you are very mad at me. If I can say is I want to shame you on the radio show for even having brought up that debate. I. Shame you now so in between breaks. We, will, we will arm wrestle, but here’s the thing is I want to make sure we get this. What is it cost you every week to achieve those goals, because cheerleading turns out mr. Rusty, the cheer coach he charging us like a doctor. Mr. Rusty you, you would have entrepreneur, you I want to I want to I want to cut some costs. I want to bring my costs down a little bit. I would encourage you to go to onyx imaging. Comment, oh and yx imaging.Com, the phone number 918-627-6611 help. You reduce your costs on your printing supplies. That can help you reduce your costs in your office. Supplies will deliver the stuff to your office. I’ll check them out again today at onyx, imaging.Com, onyx imaging.Com schedule, free consultation will save you. Money on your printing office supplies, stay 2