48: How My Business Made More Money Than Ever Before - Part 1 - Positioned with Kimberly Knight

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to the Position Podcast.
I am your host, kimberly Knight, and today we are going to talk
about how I made more moneylast year in my fiscal year than
ever before.
So grab a notebook and a pen,because you're going to need to
take some notes for these twoepisodes because it is going to
be a two-parter and decide thatyou're going to make the changes
that are going to make adifference in your financial

(00:22):
trajectory.
So let's jump right in.
But before we do that, pleaselike and share the broadcast,
because your friends need thistoo.
The last thing you want to dois make lots of money and have
broke friends.
Oh, that's a whole otherepisode.
Okay, all right.
So let's look at some of thethings that I did last year that
helped me to make more moneythan ever before.

(00:44):
First thing I know for sure Idid and I can tell you it was a
game changer was to invest atthe level I expected to get
results.
I spent more on coaching lastyear than I ever did before and
I'll be honest with you, had myfinancial situation not improved
behind that information, itwould have been a problem for me

(01:06):
to meet the monthly fee forthat.
So it gave me not only theinformation I needed, the
support and the accountabilitythat I needed, but it also gave
me the incentive and themotivation to keep on working
and not stop.
And there is something aboutthat momentum when you get that
momentum going, it starts totake on a life of its own and it

(01:26):
becomes its own engine.
And there is something aboutthat momentum when you get that
momentum going, it starts totake on a life of its own and it
becomes its own engine and itpushes you forward.
It propels you forward.
I am telling you you need toinvest in coaching.
You need to invest inconsulting, in books, in
programs, in conferences.
I did all of that last year.
To be fair, I've always donethat.
I think lifelong learning is key.
I'm a teacher, but you can't bea teacher if you're not going

(01:49):
to be a learner.
That's the way I feel.
So I've always invested inlearning, whether it was formal
or informal.
I have always done that.
I've always been mentored.
I have a mentor that I've hadin my life for decades now.
But I did something differentthis time.
Again, I invested at the levelI wanted to get results.
So let me give you an example.
There are some of us who willinvest a hundred dollars in a

(02:13):
program but expect our clientsto pay us a thousand dollars.
Well, you're asking people todo with you what you're not
willing to do.
So you need to believe inyourself enough and when you're
ready, the teacher appears.
I'm telling you that that's todo.
So.
You need to believe in yourselfenough and when you're ready,
the teacher appears.
I'm telling you that that's thetruth.
Not only that, you will findthe money or make a way.
I'll be honest with you.
When I decided to go into thiscoaching program, I needed to

(02:37):
ask them can you give me somekind of payment plan?
And they did.
They didn't hesitate.
What if I?
Usually I've been like,intimidated to ask those kinds
of things, but not this time.
And I am telling you it paidfor itself.
I got a contract withinprobably two months that paid
for the rest of my coachingprogram and gave me extra to

(03:03):
work with.
Now, when I say extra, Idoubled the amount of my
investment.
Within two months.
It was like six weeks later Ihad my first contract.
That was double the amount Iinvested.
I am telling you it works.
And here's another thing WhileI'm saying that, this comes to
mind when you shift your mindsetabout it being an expense to it

(03:29):
being an investment, you'll seeit multiply Investments,
multiply Expenses.
What do they do?
They subtract.
When you see it as aninvestment, it's going to be a
seed.
Seeds multiply after their own.
Oh, that's good, oh, that'sreally good.
Yeah, seeds multiply afterthey're grown.
So seed as an investment andnot an expense.
Now, that said, it did becomean expense, right, because it is

(03:50):
a business expense that isdeductible, but you should check
with your own tax professional.
Another thing I did and thismight surprise you is I deleted
the games from my phone.
Now, it sounds like a reallysmall thing, but it's not
because they were wasting mytime and keeping me distracted.
Again, sounds like a littlething, but it wasn't.

(04:12):
So the time that I would spendon my games, rather, I spent
them in my business, whether itwas doing some things on the
back end or I spent time justgetting information and doing
research or connecting withother people and networking.
I use that time more wisely.
So when we say we don't havetime, right, let's examine how

(04:34):
we're using what we have,because everybody in the world
has 168 hours a week, 168 hoursa week, so we get to decide how
we want to spend that time.
And if you calculate how muchyou make per hour and you spend
three hours a night ontelevision, let's say, for just
to make it simple, you make ahundred hours and you decide to

(04:57):
watch TV for three hours a night, which is kind of average, and
I won't even add in the socialmedia for the day, right, let's
just talk about that televisiontime of three hours.
That's $300 worth of your time.
And then we say we don't havetime and we don't have money.
It's not that we do have thetime and we did waste that money
, right, that money-makingopportunity time, it was wasted.
But we get to decide how we'regoing to what.

(05:21):
Invest our time not spend it,but invest it.
And if we make the most of ourtime, we're more likely to see
better returns.
Now here's another thing.
Here's another thing.
I hired help.
It was one of the bestdecisions I have ever made.

(05:43):
Again, learning that sometimesfighting so hard to save money
was actually costing me moneywas a whole different mindset.
Now, listen, when I startedinvesting in that coaching, I
did not have, I didn't have itright, like it wasn't, like I
could just write a check and paythe lump sum it was.

(06:03):
It had a comma.
It had a comma and zeros.
Okay, it was big and I couldn'ttake it out of our savings
because we had some other thingsgoing on and we did want to
touch it and I said, okay, whatam I going to do?
How can I free up my time?
How can I be more focused?
So I got rid of the games.
I cut way back.
I really don't watch as much alot of television or do a lot of

(06:24):
social media, but I cut back onthat like a lot.
And then I hired help, and whenI say I hired help, I got a
virtual assistant and she'sfabulous.
I got someone to help around myhouse, because guess what
Dishes need to be washed, butthey don't need to be washed by
your girl.
Hello, oh, I know that feltgood, right.
I got a new tax preparer.

(06:45):
I have a new tax preparer whoalso talks to me about strategy,
and that was good, right.
So I was already spending themoney for the tax preparer.
But this one had next levelskills.
And I'm going to tell youanother secret If you are going
to go to the next levelfinancially, you're going to
need next level financialadvisement and tax preparation

(07:06):
and strategy.
Oh, yes, sir, yes ma'am, ifyour tax preparer has only
worked with businesses that dobusiness by the thousands and
you want to do the business bythe hundred, thousands or the
millions, then you have to beginto think and plan for that, and
we're going to do a whole otherepisode on strategizing,
because that is big.

All Episodes

48: How My Business Made More Money Than Ever Before - Part 1

Episode Transcript

Popular Podcasts

Crime Junkie

24/7 News: The Latest

Stuff You Should Know

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}48: How My Business Made More Money Than Ever Before - Part 1