How to Become A Profitable Person

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Manage episode 233267796 series 69174
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If you run your own business, you go to great lengths to make sure that your business is a profitable one. Both Andrew and Matt run their own businesses. They regularly go over their accounting to see if the businesses are spending too much money and if they are, where? Do the profit margins need to be increased? How much money is being held in reserve in case of a period of lower cash flow?
But how many of us do these things and ask these questions when it comes to our personal finances? We watch every penny going into and out of the business’s bank accounts but we’re much more cavalier about our personal bank accounts. It’s the weird dichotomy where we will sometimes say mean or rude things to friends or loved ones that we wouldn’t dream of saying to a stranger.
Perhaps it’s because it’s easier to be objective about our business than our personal life. Ever how much you consider your business to be your baby, a part of you, it’s not you. Your life, which your personal finances are a big part of, is you. Your business is a thing but you’re a person and people have desires. You’ve never treated your business to a new pair of shoes or an expensive dinner out. How about yourself? Exactly!
The question we’re asking is if you looked at your personal finances as if you were running a business, would you still be in business? You already run a profitable business, let’s focus on becoming a profitable person.
There are seven principles to becoming a profitable person. We’ll explain each one.
Full Article Here
Show Notes

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