Financial – LIVETHEFUEL

Rock Your Life, Rock The Recession with Jonathan Slain

Scott Mulvaney — Tue, 11 Aug 2020 11:00:00 +0000

Are You Ready to Rock The Recession and Come Out On Top?!

Jonathan’s book, “Rock the Recession: How Successful Leaders Prepare For, Thrive During, and Create Wealth After Downturns” came out in September 2019 and is a #1 Amazon Best Seller.

Jonathan coaches high growth leadership teams across the United States to implement the Entrepreneurial Operating System® also known as “Traction.” He focuses on working with entrepreneurial niche/specialty firms and large corporations ($10M+ in annual revenue), spending over 100 days per year working with teams just like yours.

Jonathan was Valedictorian of his graduating class and had the highest GPA ever in the history of Shaker Heights High School, where he was also voted “Next Bill Gates and Least Likely to Lose his Virginity.”

Quote – A Recession is When Your Neighbor loses His Job, A Depression is When You Lose Your Job!

Top 3 Hot Point Takeaways:

Today’s Resource Links from the Podcast:

https://www.facebook.com/RockTheRecession/

https://www.linkedin.com/company/rock-the-recession/

https://www.youtube.com/channel/UCkAKdWaeESrylXXpQCD6DPQ

https://twitter.com/RockRecession

https://www.instagram.com/rocktherecession/

Our Mentioned Influencers:

Pending

Watch us on YouTube:

Timestamped Show Notes:

00:30 – Introduction

10:00 – I do think this is different than several other countries right now and we are used to a standard of living probably above what we can actually afford. The tough part, Scott, as we know, is that since it’s been 10 years since we’ve had a recession, I think we have all gotten kind of complacent. As a society, we’ve gotten a little arrogant. It’s been pretty easy and we had a very smooth run.

20:00 – Even if you’re going in the wrong direction, maybe even some leadership in the wrong direction, at least we get some momentum and get people moving which is better than just sitting still and waiting.

31:00 – They’d send me an Excel spreadsheet, $35,000 worth of equipment, and I’d be like, look, I can get you $1,000. The guy would be like, let me call you back. He’d come back an hour later and be like, if you overnight a cashier’s check, it’s yours.

41:00 – The worst part Scott is that it wasn’t even all at once. It was a series of 12 loans for about $20,000 each. That’s how much I needed to make payroll every two weeks.

50:00 – For me, for my spouse, we have already spent a lot of time talking about what’s truly important to us. So we can go back to that, and we get some psychological safety from it. I’m not saying it’s perfect, you know, we still have our issues.

01:10:00 – Final Words

Our Final Words of the Show:

I think people are, are focusing more on this now. And are starting pay attention. I think people understand that we’re going to have an economic downturn. And so it’s time to start to figure out how you’re going to rock it, instead of getting rocked by it. Don’t be Don’t be like me, man. Don’t be like me and have to borrow a quarter of a million bucks from your mother in law.

Action Steps:

Support our 501c-3 non-profit and visit http://fuelfoundations.org

Help us reach more people with 5 Star Reviews, visit iTunes and Submit a Review

Join our private Facebook community The FUEL UP Mindset

The post Rock Your Life, Rock The Recession with Jonathan Slain appeared first on LIVETHEFUEL.

Rocket Your Dollar Investing with Henry Yoshida

Scott Mulvaney — Tue, 14 Jan 2020 12:00:00 +0000

Today we learn about Self-Investing and the Rocket Dollar platform with co-founder Henry Yoshida:

Henry is CEO and Co-founder of Rocket Dollar, a web platform that lets people invest tax-advantaged retirement monies into private alternative investments. Henry was the founder of venture capital-backed Robo-advisor retirement plan platform Honest Dollar[acquired by Goldman Sachs], was the founder of MY Group LLC[acquired by Captrust], a $2.5 billion assets under management investment firm, and a Merrill Lynch Vice President.

QUOTE: “The only person who never makes mistakes is the person who never does anything.” – Teddy (my brother’s name too) Roosevelt

Henry has many retirement and financial industry accolades and certifications. Henry is a Certified Financial Planner and was a finalist for the ASPPA/NAPA 401(k) Leadership Award and was recognized as a finalist for Plansponsor Magazine’s Retirement Plan Adviser of the Year. Henry shares his industry expertise as a speaker at several industry conferences, as well as having been featured or quoted in the Wall Street Journal, TechCrunch, Bloomberg Businessweek, Inc. Magazine, and Financial Times. He is extremely passionate about FinTech innovation in wealth management and has brought multiple innovative products and methodologies to the market.

Yoshida graduated from The University of Texas at Austin, has an MBA from Cornell University, and lives in Austin with his wife and two daughters.

Top 3 Hot Point Takeaways:

Become Self-Directed.
Gain Control over your investing.
It’s always better to be a giver.

Today’s Resource Links from the Podcast:

rocketdollar.com

linkedin.com/in/henryyoshida

twitter.com/henryyoshida

twitter.com/rocketdollar

linkedin.com/company/rocketdollar

Timestamped Show Notes:

00:30: Introduction

10:00: I was reading in the Wall Street Journal this week that about $1 trillion of decision-making is being done by folks between eight to fifteen-years-old. Snapchat is around 90% of that audience right now. So they’re really concentrating on ads and the Wall Street Journal article went into trying to communicate with these companies need to synthesize the ads to both maybe spend 75% of the time speaking to the younger generation, because they do have some influence over maybe us as parents, and they’re in the buying behavior for our children.

20:20: I always tell people you should understand where you live, the market around you, and especially if there are benefits, which you were hinting at. So let’s pause on that. I never realized what my local community was about, it was about your local community and how there are tax benefits.

30:00: I just saw that there is a new technology, it’s a tech platform, getting funded as such because it’s basically just a chain of bars. However, they serve non-alcoholic drinks ONLY. They’re capitalizing on the fact that people don’t really see each other as much as they used to. It’s a hot, hot space. I’m kind of wondering when there’s going to be more technologies that actually force us to go non-digital and force you to sort of communicate, touch, feel, and see people that’s like playing sports, doing exercises and stuff like that.

42:40: I used to do a lot more of the direct sort of financial planning and working with individuals. Now, I think to myself more of how can I make the product usable for a broader base because I’m not there to talk people through it. So it’s a different way of thinking you know, running the business and when you run the business, you try to grow it the way that we’re growing. It’s different than if I were just trying to work individually and solve people’s problems.

50:00: If you don’t have passion for it, then why am I putting my dollars into it? I don’t know that I agree. I want to feel good about where I’m going with my financial angle.

53:20: Final Words

Our Final Words of the Show:

For me, it’s probably, always be giving. So if I’m in a position, I’m not saying that I’m the one that has all the resources and by no means do I do it, if that’s the case. I have a couple of things. Don’t keep score and always be giving because you never know, it’s always better to be a giver if you’re in a position to do so. You don’t need to worry about people following you. I think it’s just sort of a human thing. So over the years, I’ve tried to help friends find new positions, meet new people, or whatever it may be. That’s just sort of what I’ve always done.

Action Steps:

Support our 501c-3 non-profit and visit http://fuelfoundations.org

Help us reach more people with 5 Star Reviews, visit iTunes and Submit a Review

Join our private Facebook community The FUEL Tank, at https://www.facebook.com/groups/TheFUELTank/

Watch us on YouTube:

Pending

The post Rocket Your Dollar Investing with Henry Yoshida appeared first on LIVETHEFUEL.

049: Saving Gyms Profit First with Shannon Simmons

Scott Mulvaney — Mon, 13 Feb 2017 17:00:00 +0000

Profit First for Gyms and Fitness

This episode is a referral from Mike Michalowicz author of the Profit First book refers us one of his earlier adopters of the system. Shannon Simmons is one of the earliest Profit First Professionals and is here to help save gyms, fitness professionals and more.

On This Episode You Will Hear:

[spp-timestamp time=”01:54″] How Shannon stumbled across helping Gym and Fitness centers with their accounting as a niche.
[spp-timestamp time=”04:27″] How Shannon made the transition into this niche.
[spp-timestamp time=”06:31″] Shannon was one of the first members of the P.F. Professionals. She had been doing Virtual Bookkeeping for ten years before the book came out. There were so many Entrepreneurs she wanted to help but with all the accounting jargon she knew Entrepreneurs would not relate. That is the biggest thing she likes about the system, is it was written by an Entrepreneur for an Entrepreneur, so they can relate.
[spp-timestamp time=”09:03″] You have to face reality and know where your business is, compared to where a healthy business is.
[spp-timestamp time=”11:24″] Mike recommends having at least five basic accounts, Shannon has identified three others for the fitness industry. This system works for personal life as well. Shannon uses an example of someone repaying $100,000 of debt off in 18 months by using this in their personal life.
[spp-timestamp time=”16:26″] Shannon recommends all Gym owners have an Equipment Account, even if you allocate a small amount to that account each month, it will compound by the end of the year so it can be used on new equipment.
[spp-timestamp time=”21:16″] This system is a proactive way to look at your finances.
[spp-timestamp time=”28:28″] Shannon recommends you should focus on creating the five accounts right from the beginning
[spp-timestamp time=”31:44″] There are three extra accounts Shannon has found that the fitness industry should have, one of them is the Equipment/Capital Expenses Account,
[spp-timestamp time=”33:06″] The point of Profit First is to get people to finally enjoy running their businesses, even if they are only paying themselves 2% profit, you are paying that right away. You don’t distribute your profits from the profit account until the end of each quarter. Profit First Professionals call it the “Quarterly Profit Distribution”.
[spp-timestamp time=”35:25″] You don’t take money from your Profit account and put it back into your business. Your profit is there for you to enjoy your hard work, even if it is only 1-2%, especially for gyms!
[spp-timestamp time=”37:26″] The more money we have, the more money we spend.
[spp-timestamp time=”39:37″] There are people out there that have a decent handle on their finances but are missing the enjoyment piece. Living with the income instead of living ahead of the income.
[spp-timestamp time=”44:00″] Who is your best employee? The answer is YOU! You have to compensate yourself.
[spp-timestamp time=”46:51″] Final Words

Links and Resources

People Mentioned

Final Words

You can only serve and love as much as you serve and love yourself. You have to be taking care of yourself so you can take care of other people.

Action Steps

Please Submit an iTunes Show Rating & Review, we need more reviews to increase our ranking and appearance. We love 5 Stars!
Join THE FUEL TANK our community on Facebook! – “You are the average of the five people you spend the most time with.” ~ Quote by Jim Rohn
Be sure to check out our Resources and a reminder to “Keep Living The Fired Up Epic Life everyone!” #livethefuel

The post 049: Saving Gyms Profit First with Shannon Simmons appeared first on LIVETHEFUEL.