Episode 14:

A Strategy for Investing in Your Own Business

When your online business starts making money there are several places it can go. You can use it to cover expenses. You can use it to expand into other ventures. You can use it to pay off debts or loans. One thing you can’t forget to do, something you need to prioritize, is investing some of that money back into your own business.

We have to fight the temptation to think we’re being selfish, self-centered, or unwise when we do this. Investing money in your own business is a  sound investment strategy with lots of potential benefits.It can increase your scope and impact, help operations run more smoothly, and add some much-needed training and expertise.

In this episode you’ll hear:

  • How the first investment you make is in yourself
  • Ways to invest in new hires
  • Where you can spend money to develop your own expertise
  • The wisdom of saving some of that money

If you’re looking for some ways to put your profits to good use, then this episode is one you won’t want to miss.

Episode 13:

Getting Your Priorities Straight

We all have goals in our lives, but some people are more intentional about setting and reflecting on them. In our busy, fast-paced world, setting goals can be one way of prioritizing your tasks and staying productive. Long-term goals can provide constant reference points to keep you on track, while short-term goals can help you stay productive on a daily and weekly basis.

There are a lot of things to consider when it comes to setting goals. We want to set long-term goals, but the world is changing quickly. On the other end of the spectrum, short-term goals can provide structure no matter where you choose to work and live.

In this episode you’ll hear:

  • A system for setting long-term goals
  • Short-term goals designed to maximize daily productivity
  • How you can prioritizes your goals
  • Systems for revisiting and reflecting on the goals you set
  • The role that fear and risk play in goal-setting

If you are looking to maximize your productivity and set lasting goals to keep you on track, then this episode is one you won’t want to miss!

Episode 12:

Creating a Small Business Financial Blueprint

By the time you set up your first small business you’ve probably already had some experience with budgeting. On some level we all have to manage our personal finances, accounting for income and expenses on a monthly basis. So the idea of budgeting and finances is not entirely new.

What may be new, however, is setting up a financial structure for a new business. In addition to figuring out how your new revenue and expense steams will work, you also need to figure out how your business and personal finances will interact.

On today’s episode you’ll learn:

  • Why it’s important to separate your personal finances from your business finances, and you’ll hear Ian’s recommendation for setting up an LLC in order to accomplish this
  • Some of the expenses that you might have running a small business
  • Special financial considerations that apply to running a physical goods ecommerce store
  • What to make of returns and damages
  • How to stay organized

If you are in need of some financial reorganization or peace then this is one episode you won’t want to miss!

Episode 11:

Considerations When Buying An Existing Business

For people who are interested in buying online businesses, it can be hard to know when you’re finally ready to commit and make your first purchase. There is a seemingly endless number of questions to ask and decisions to make. For some, it can be hard to know when you’re prepared enough to act on your investments.

Today, we’re talking about the questions and self-assessments you should be considering as you move towards a final decision. We also talk about seeking success, and the fact that you never fully know until you jump in and try.

In this episode, you’ll hear:

  • What you need to keep in mind as you make this decision, including your desired end state and monetization plan
  • Self-assessment advice – how understanding your personality type, skills, and interests should inform your decision
  • The need to commit when the time is right. You never know everything, and you may never feel fully-prepared, but if you have a good team of advisors around you and have asked all the right questions, you are as ready as you’ll ever be.
Menu