Money and Your Business: A Love Story

Have you ever taken the time to have CEO dates with yourself? Do you regularly check your OKRs, and KPIs and assess the financial health of your business?

Whether you're already familiar with your numbers or completely clueless about your financial situation, buckle up and get ready for an enlightening conversation about money and your business.

The Concept of CEO Dates

It's time to prioritize your financial well-being and have those essential CEO dates.

These dates allow you to connect with your business on a deeper level, reviewing key performance indicators, objectives, and results.

By setting aside dedicated time for this analysis, you gain valuable insights into the financial aspects of your coaching and consulting business.

Understanding Your Numbers

Before we dive deeper into the intricacies of debt, let's discuss the importance of understanding your numbers.

Many people shy away from dealing with their finances, but it's crucial to have a clear understanding of your income, expenses, and overall financial performance.

By being aware of your numbers, you can make informed decisions and take control of your financial future.

Good Debt vs. Bad Debt

People often have trouble telling the difference between good and bad debt.

In this section, I will discuss the difference between these two and how you can develop a better relationship with your purchases and money management.

Good debt refers to borrowing money for investments or assets that have the potential to increase in value or generate income over time.

Bad debt refers to borrowing money for purchases that do not appreciate in value or generate income, often resulting in financial strain and difficulty in repayment.

I'm not an expert on personal finance, but I have learned a lot about money and finances through my own experiences. I hope that what you read here will be helpful—take from it whatever suits your situation!

A Personal Story: Overcoming Financial Challenges

Let me share a personal story that shaped my understanding of money and finances.

In 2018, I found myself with only $90 to my name after losing my job. Determined to turn things around, an opportunity arose, and with the support of friends, colleagues, and a strategic mindset, I orchestrated a successful event that brought in millions.

This experience taught me the power of direction, purpose, and intention when it comes to financial endeavors.

When the pandemic hit in 2020, my startup faced financial difficulties. However, I understood that my marriage and personal growth were paramount.

I made the courageous decision to invest in a mentor and surround myself with successful entrepreneurs. Though initially daunting, this investment provided me with knowledge, guidance, and accountability.

Investing in Mentors: Good Debt or Bad Debt?

Is investing in mentors considered good debt or bad debt?

This is a question worth pondering. While mentors can provide valuable guidance and support, it's essential to remember that they're not ATM machines.

Throughout your financial journey, it's very important to take responsibility for your finances. By adopting an accountable mindset, you can make proactive decisions, ask the right questions, and implement the insights gained from mentors and financial experts.

Overcoming the Fear of Debt

Many people fear debt, but it's essential to confront and overcome this fear.

You need to start learning how to shift your mindset and embrace debt as a tool for growth and opportunity. By reframing your perspective, you can leverage debt strategically to fuel your business and personal development.

A key aspect of managing your finances is focusing on the long-term sustainability of your business. By prioritizing your business's long-term growth, you can navigate challenges and seize opportunities along the way.

Embracing Money as a Friend

I encourage you to develop a friendly relationship with money. Instead of fearing it, embrace money as a tool that can support and empower you.

By understanding the concepts of good debt, bad debt, and strategic investments, you can make informed decisions and drive your coaching and consulting business toward greater success.

After all, money is an essential aspect of any business, and it's crucial to develop a healthy relationship with it.

By having CEO dates, understanding your numbers, distinguishing between good and bad debt, and investing in mentors strategically, you can transform your financial outlook.

Overcoming the fear of debt and being strategic in your financial decisions are key to building a long-term, successful coaching and consulting business.

To hear more about how you can start your journey to becoming a wealthy consultant, listen to our training video?here. For more inspiring stories about wealthy, driven, and ambitious humans and actionable steps you can take in order for you to move the needle and have a soulful coaching and consulting business, tune in to?Ambitious Tribe with Kassy Pajarillo.?

If you want to build a high-ticket coaching and consulting business of your own, apply for my exclusive training?here?to learn how to craft your power profile and make your passion profitable. See you there!