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Building a War Chest!

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Manage episode 389391876 series 2481668
Content provided by Phil Graham. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Phil Graham or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode, I discuss the importance of having a financial safety net, commonly known as a "war chest," for both personal and business expenses. I'll be sharing my own experience of building a war chest when I started my fitness business and emphasizing the need for responsible mentorship in this process. I'll outline the steps to take, including getting clear on personal and business expenses, stress testing these numbers, and aiming for a margin of 45-55%. I conclude by emphasising the significance of having a war chest regardless of the type of business.

  continue reading

115 episodes

Artwork
iconShare
 
Manage episode 389391876 series 2481668
Content provided by Phil Graham. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Phil Graham or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this episode, I discuss the importance of having a financial safety net, commonly known as a "war chest," for both personal and business expenses. I'll be sharing my own experience of building a war chest when I started my fitness business and emphasizing the need for responsible mentorship in this process. I'll outline the steps to take, including getting clear on personal and business expenses, stress testing these numbers, and aiming for a margin of 45-55%. I conclude by emphasising the significance of having a war chest regardless of the type of business.

  continue reading

115 episodes

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