Scale Up Your Business Podcast
Making Money Work For You
The art of managing money starts with you! To unlock it for your business, you better master beforehand how to handle your personal finances and your own budget.
So, in this episode of the Scale Up Your Business Podcast, Nick discusses how you can make money work for you so you can achieve your personal and business goals and why our emotions and psychology play significant roles on financial management. He also shares the three philosophies about money that he got from his coach and also the three important strategies that can help you change how you think and manage money. You’ll be creating wealth and freedom in no time when you follow them, so make sure to tune in!
Cash flow in business is the most important thing. If you can’t properly pay all the people that help you grow your business, then it may not be a viable business.
Manage your emotions effectively. Yes, your finances, your budget, and money, in general, are rational objects, but they’re underpinned by emotions.
Nick himself had problems managing his finances. Instead of saving up or investing his money, he’d prefer to use it for buying more material possessions and pay for his hobbies.
Three things that his coach told him about Money:
Money flows from people who value it least, to people who value it the most.
If you’re not a millionaire by the time you’re 40, then you simply haven’t put enough focus to this area of your life and therefore, need to change your focus.
Wealth is a spiritual concept measured by the number of zeros in your bank account.
Three Important Strategies:
Give a percentage of your money every year or every month to those who need it.
Develop psychology around money that attracts wealth and abundance to you.
Create a clear plan around debt reduction, if you have it, and asset location.
“Your ability to manage money and cash flow in business are critical.”
“Everyone should have financial mastery is one of their goals.”
“What I was really doing was I was masking certain perceived deficiencies in other areas of my life by the short-term hits of satisfaction.”
“If you add enough value to people in life without expectation, you’ll have everything you want in life.”
“Like anything, where you focus on is where your energy flows.”
The Richest Man in Babylon by George S. Clason
Rich Dad Poor Dad by Robert T. Kiyosaki
Money: Know More, Make More, Give More by Rob Moore
Money: Master the Game by Tony Robbins
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel by Benjamin Graham
ABOUT THE HOST
My name is Nick Bradley. I’m an entrepreneur, author, speaker and investor.
My background is in growing and scaling VC, and Private Equity backed businesses.
Having successfully built, bought and sold a number of companies, and removed myself from day-to-day operations, my focus now is on helping entrepreneurs get to where they want to be, in business and in life. As well as investing in growth businesses and backing turnarounds - with the ultimate aim of creating value from significant capital events.
I’m passionate about personal and professional development - showing up and being the best version of myself ... every day.
My bigger vision is to help bring entrepreneurial skills, experience and mindset to people in developing nations - so they can follow their dreams, live life more on their terms - utilising entrepreneurship as a global force for good.