I’m all about sales and margins. Even as a kid, I was on the golf course gathering up golf balls and selling them on at a great margin!
Today, I’m just as focussed on getting that profit because I am working towards financial freedom and living the life I want. I have clarity and commitment to my end goal.
But, often, as business owners, it’s easy to lose sight of that and become bogged down in prioritizing the wrong things. You get caught up in expenses and don’t put aside profit. Suddenly it comes to year-end and there’s nothing in the pot.
My guest this week, is Rocky Lalvani. He moved with his parents from India to the US when he was very young. They worked incredibly hard to achieve the American dream and make themselves a success. But, when Rocky’s mum died when he was just 7 years old, instead of breaking him down, he found inner strength that helped skyrocket him to financial success.
Today, Rocky helps business owners reassess their outlook on life and start prioritizing profit in order to get the life you want to live. He believes that business owners need to reverse that equation of “sales – expenses = profits” and turn it into “sales – profit = expenses.”
Once you stop seeing profit as a leftover after expenses and making profit a priority, you get off that roller-coaster, you start making tougher choices on your expenses and margins and you start working towards financial freedom.
Find out about:
- How to stop thinking of profit as a leftover and get in the habit of prioritizing and setting aside profit
- Why you should start with how you want live your life, first and then get your business to fit the life you want to live
- Focussing on chasing profit as opposed to revenue
- Creating clarity on what you want and working towards financial freedom
- Not running from your dreams when someone digs at you and showing them what you’re made of
If you want to check out the book Rocky was talking about, it’s Profit First, by Mike Michalowicz.
Also, go check out Rocky’s Profit Comes First website where he helps business owners take control of your profit and spend more time doing what you love. You can also tune in to his podcast Richer Soul, Life Beyond Money.
In this interview, we also mentioned Tom Schwab of Interview Valet which is a concierge-level podcast marketing service. Also, Pete Vargus of Advance Your Reach – who focusses on the fastest ways to build your business. He changed my life so make sure you check him out too.
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The What Are You Made Of? Podcast is sponsored by Nations Lending, a mortgage company dedicated to helping families achieve their dream of homeownership.