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How I View My Business Expenses (and How My Mindset Has Evolved)
Manage episode 339955304 series 3019226
With all of the economic uncertainty going on right now, I have focused the last several episodes on money and finances in business. I continue to get questions surrounding this topic so I’m diving deeper into it in this episode.
A lot of you have been asking what I personally have been doing with my money in my business, so in this quick tip episode of Art of Online Business, I’m sharing a behind-the-scenes look at my business and how I view my business expenses.
My view has evolved over the last several years. At first, I spent freely. If I wanted something, I got it. After a while though, I really started to be conscious of my money, and I realized that my profit margins were much lower than I expected. That’s when I started to change my mindset around my business.
We’re here to make an impact, and we can’t make an impact if our business isn’t making any money. I am now much more strategic and intentional about my business expenses and look at it all from an ROI perspective and not just a financial one.
In this episode, you’ll learn:
- How I used to manage my money in the early years of my business
- When I realized that my profit margins were low
- The way my bookkeeper helped me change my mindset
- The 2 different categories that I put my expenses into
- Why I prefer to see them as investments instead of expenses
- How I evaluate ROIs on the business expenses
- The way I look at profit margins for my offers
Rick Mulready's Links:
- Visit Rick's website
- DM Rick on Instagram
- Full episodes of The Art of Online Business Podcast on YouTube
Kwadwo [QUĀY.jo] Sampany-Kessie's Links:
- Visit Kwadwo's website for Facebook Ads help
- Say hi to Kwadwo on Instagram
- Subscribe to Kwadwo's YouTube channel to learn with him as he learns about personal finance, financial freedom, foreign languages and enjoying life!
Full show notes available at www.rickmulready.com/631
773 episódios
Manage episode 339955304 series 3019226
With all of the economic uncertainty going on right now, I have focused the last several episodes on money and finances in business. I continue to get questions surrounding this topic so I’m diving deeper into it in this episode.
A lot of you have been asking what I personally have been doing with my money in my business, so in this quick tip episode of Art of Online Business, I’m sharing a behind-the-scenes look at my business and how I view my business expenses.
My view has evolved over the last several years. At first, I spent freely. If I wanted something, I got it. After a while though, I really started to be conscious of my money, and I realized that my profit margins were much lower than I expected. That’s when I started to change my mindset around my business.
We’re here to make an impact, and we can’t make an impact if our business isn’t making any money. I am now much more strategic and intentional about my business expenses and look at it all from an ROI perspective and not just a financial one.
In this episode, you’ll learn:
- How I used to manage my money in the early years of my business
- When I realized that my profit margins were low
- The way my bookkeeper helped me change my mindset
- The 2 different categories that I put my expenses into
- Why I prefer to see them as investments instead of expenses
- How I evaluate ROIs on the business expenses
- The way I look at profit margins for my offers
Rick Mulready's Links:
- Visit Rick's website
- DM Rick on Instagram
- Full episodes of The Art of Online Business Podcast on YouTube
Kwadwo [QUĀY.jo] Sampany-Kessie's Links:
- Visit Kwadwo's website for Facebook Ads help
- Say hi to Kwadwo on Instagram
- Subscribe to Kwadwo's YouTube channel to learn with him as he learns about personal finance, financial freedom, foreign languages and enjoying life!
Full show notes available at www.rickmulready.com/631
773 episódios
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