Tom gets brutally honest about the biggest financial mistakes that destroy coaching businesses before they even begin.
In this episode, Tom Krol joins Chris Miles on the Money Ripples podcast. He gets real about why hustle is only a season and why being a good steward of money is what separates the broke from the wealthy.
Listen as he also reveals the simple weekly habits that create financial freedom, the only five people you should ever take money advice from, and how to think about success beyond just income. Enjoy the show!
You’ll Learn How To:
- Stop confusing high income with real wealth
- Build long-term financial habits that protect your business
- Shift from hustling for cash to managing money with purpose
- Measure your net worth weekly to find what’s really broken
What You’ll Learn in This Episode:
- (03:58) Tom's transition to the coaching space
- (04:09) Success and wealth are different
- (06:04) Generational wealth isn’t money, it’s habits and values
- (09:04) Hustle is a season, not a lifestyle
- (09:48) The 40/60 rule: making money vs. managing money
- (11:45) Wealthy people look at their cash flow and net worth
- (12:58) Why leaders should think like captains, not engineers
- (13:49) Lessons from Alex Hormozi on testing and improving your offers
- (15:16) The number one predictor of success: pressure tolerance
- (15:58) The fear of success
- (17:38) The metric that matters most: your student success rate
- (20:18) Why recommitting to your clients builds true long-term wealth
- (21:48) The power of reading daily and learning from the right mentors
Who This Episode Is For:
- Coaches and consultants who make good money but never feel ahead
- Entrepreneurs who are ready to stop the never-ending hustle
- Anyone who wants to manage money with purpose and clarity
- Business owners who want to build wealth that lasts
Why You Should Listen:
This episode isn’t about fancy financial tricks; it is about mastering the fundamentals that build wealth. If you’ve ever made good money but still felt broke, this conversation will change how you see money.
Connect with Chris Miles:
- Website: https://win.moneyripples.com/
- Instagram: https://www.instagram.com/chriscmiles/
- LinkedIn: https://www.linkedin.com/in/chriscmiles/
- YouTube: https://www.youtube.com/@moneyrippleswithchrismiles
Resources:
- Apply now for Coaching Inc.’s private mastermind at coachinginc.com
- Tom’s favorite resources: https://coachinginc.com/#
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