Dr. Robert Zoellner

ThriveTime Show CEO / Optometrist / Entrepreneur / Venture Capitalist

Clay Clark

Founder of ThriveTime Show / U.S. Small Business Administration Entrepreneur of the Year

DrZimage Mobile

Clayimage Mobile

ClayProof

GAIN TIME&FINANCIAL FREEDOM

The World’s Highest Reviewed
Business Growth Program.

We’ve Helped over 1,700 business owners.
See their stories.

Business Coaching

Get 1-on-1 business coaching guaranteed to grow your business by 30% this year.
Learn More

Business Podcast

Listen and subscribe to our podcast hosted by business owners that have grown 13 multi-million dollar businesses.
Learn More

Business School

Watch 1,000+ videos on how to start/grow a business taught by mentors such as NBA legend David Robinson, Michael Levine, and many others
Learn More

Business Conference

Join our 2 day extensive business conference led by Forbes Council Member and SBA Entrepreneur of the Year, Clay Clark
Learn More

Subscribe to The World’s #1 Business Podcast

iTunes Charts

Listen Now

We’ve interviewed some of the country’s most influential entrepreneurs, speakers, and athletes and there’s much more to come.

Featured Guests Include:

“You guys are brilliant, entertaining, and crushing it!”
– Craig Groeschel
Founder and head pastor of LifeChurch.tv
One of Seth Godin’s Favorite Interviews He Has Ever Had
“This has been thrilling!”
– Seth Godin
Best-Selling Author of 18 Books Including Purple Cow

Meet the Business Owners Who Built ThriveTimeShow.com

drZoellner

Dr. Zoellner

ThriveTime Show CEO /
Optometrist / Entrepreneur /
Venture Capitalist

See Businesses

Clay Clark

Clay Clark

Founder of ThriveTime Show /
U.S. Small Business Administration Entrepreneur of the Year

See Businesses

business-coach-video-1

business-coach-radio-listen-live

Business Coach: The Path To Financial Freedom

Business Coach Co EventThe financial freedom transcript from Thrive15.com, an Ohio business college second to none, and presented by Clay Clark, US Small Business Administration Entrepreneur of the Year, Top Business Coach and Tim Redmond.

Clay:                Now, let me talk to you as a business coach principle number 7. This is one that I get excited about, because we get to use the word war. Building up the war chest, building up an emergency fund.

The war chest ideas is pretty exciting to me. I don’t know about the emergency fund, but Tim, I realize that I’m super intense in a lot of … Anything I can I can …

Tim:                The understatement of the day.

Clay:                I know anytime that as a business coach can view business in terms of war, or battles, I like that, but when it comes building up financial reserves, a lot of successful entrepreneurs will say you need to build a war chest.

First off, what are we talking about when you say you got to build a pretty healthy war chest before you go into battle? What does that concept mean, the war chest?

Tim:                Okay. So, you can look at life as a war. Things that happen when you get attacked. Getting attacked may be your car breaks down, or you get in a wreck, or your kid breaks a leg. These are like attacks, and what do they attack?

Okay, that car, to get that car repaired, it may be an $800 repair, but all you have in savings is a $150, and you don’t have enough in your regular income to be able to make that payment.

So now, you not only lost that battle, but it shut you down. That car is not going to work. You can’t get it fixed.

Clay:                This is huge, because I meet entrepreneurs everyday, coast to coast, every time I do a speaking event. I mean, literally, almost every time. If there’s a 100 or more people gathered, I hear it every time.

Some guy’s working for another guy, he decides I can build a better widget, I can sell a better thing. I’m going to go into business by myself, but he does not have a war chest.

Tim:                Yeah, right.

Clay:                So, his wife gets sick, he gets sued, something breaks. Guess what? That’s life. Everybody who owns a business is everybody who owns a business, everybody who owns a business is going to get sued, transmission is going to go out, someone is going to get sick, because it’s life.

Tim:                Something unexpected is going to cost them more than what they plan.

Clay:                We’ve got a war chest here, done. Game over, out of business. Take this information from a business coach.

Tim:                Right.

Clay:                So, the thing about building a war chest is you have to build it. You can’t just get a good idea, and start a company. This is why people go out of business.

Tim:                Long term perspective is so key.

Have you hit a road block in your business finances. Find out how to overcome that and more at Thrive15.com, the Ohio business college second to none.

Clay:                It’s absolutely, and all these things weave in together, because that long term perspective. I remember sitting there at Faith Highway when I worked there, and I remember I’m reading about war chests, and I was reading the Art of War, and I’m reading Robert Kiyosaki, and I’m getting really epic at my desk, at lunch, and I’m going, “I’m going to have to have at least $20,000 to start my company. I’m going to have to have it.” I remember going, “$20,000.” I remember just writing down, and every week I would go home, and I would put on the tally board $500 saved, $200 saved, $800 saved, put tally’s every time I saved $100. I just kept tallying, waiting.

Tim:                You had a very distinct goal that kept you focused on that.

Clay:                And, I want to give the best example I can ever think of here. That John D. Rockefeller, fabulous story. When I read this, I’m like, “Oh, this is awesome.”

Tim:                Your good friend.

Clay:                My good friend, John D. Rockefeller. He’s one of the world’s wealthiest people, and what happened was he was working for these 2 store owners who were sloppy with their money, and they were having financial problems, and he was working there as like a clerk, as some type of bookkeeper, and one day he was looking at their books, and he’s like, “We’re going to run out of cash.”

So, he began this process of diligently saving, and then partnering with other guys to save money. Well, long story short, the company’s out of cash. Now, he’s probably like in his mid 20s at this point, and these guys are like in their 40s, and they’ve had this big million dollar business, and they come to him and say, “We’re out of cash. What should we do?” and he says, “I recommend we take it to auction. You guys can get some cash, and get out of this, and not go into bankruptcy,” and they’re like, “Okay.”

So, he shows up at the auction with a top hat so they can’t see his eyes, and they start the bidding, and he puts his hand up, and they go to shake the hand of the guy who bought their business, and they’re like, “That little …”

It was crazy. It’s not only that he surprised them by having enough cash to buy the business, but the next day, the legend is in Cleveland, he’d already built the sign that said Rockefeller, and so he’d already had a sign fully built. This metal sign that they put on it. Boom.

So, he went from employee, to owner, to mega owner within just … But there’s a long term perspective.

Tim:                Right. Long term perspective. With cash, you’re positioned for power. So, you really want to make sure that you’re managing your decisions, you’re managing your compulsions, you’re managing everything that’s about what you’re doing here, to make sure you’re putting cash aside, so you’re positioned for power. This is important advice from a business coach.

Feedback

Let us know what's going on.

Have a Business Question?

Ask our mentors anything.

Reserve Your Seat

Attend the world's best business workshop

  • Credit cards accepted

Get More Info

Learn more about the world's best business workshop

Get Started

Your first month is ONLY $1!

Get Started

Schedule your FREE 60 minute coaching session

Don't miss out

Watch the rest of this video and get access to thousands of other online trainings by signing up for an account. Get Business School for $1 Go Back Home Browse More Videos

Get Your FREE eBook

Get Your FREE BOOM eBook

You will be redirected to your dashboard in a moment.