How To Pay Yourself More | Tips From Craig Dacy

Hey Small Business Owner… Pay Yourself More!

Most struggling small business owners are working more and making less than at the job they left to start their business.

When it comes to entrepreneurship, the financial aspect often appears as the most daunting sea to sail. In a world where cash flow is king, maintaining a firm grasp on the financial rudder is essential for the survival and growth of any small business. Financial guru Craig Dacey, a financial coach, joins host Michael Morrison to tackle these topics, offering a lifeline to entrepreneurs fumbling with finances or deciphering the secrets of sustainable cash flow.

Listen to this episode below, find Small Business Pivots here, or keep reading about this episode below the graphic…

Strategic Planning

Craig's transition from education to financial coaching is a testament to the power of strategic planning and the passion for guiding others. His ability to demystify money management by emphasizing behavioral change rather than just numerical understanding provides a refreshing perspective on financial well-being. For small business owners, this shift in focus can mean the difference between mere survival and true financial prosperity.

Profit First System

Throughout the episode, the discussion delves into the profit-first system, a transformative approach to managing business finances. The simplicity of the system lies in its alignment with human behavior, utilizing dedicated bank accounts for income, profit, owner's pay, taxes, and operating expenses to provide a clear snapshot of financial health. By doing so, it offers business owners a straightforward method to handle their finances without the complexity of traditional accounting practices.

Financial Coach

A common pitfall for entrepreneurs is undervaluing their own salary. Craig and Michael address this issue head-on, debunking the myth that higher earnings will automatically translate to increased personal income. They highlight the crucial role of a financial coach, not just in scrutinizing numbers but in overhauling pricing, refining sales strategies, and propelling entrepreneurs towards financial triumph.

Scaling A Business

The conversation also covers the art of delegation and scaling a business, emphasizing the importance of weekly, monthly, and quarterly financial check-ins. Such structured rhythms are key to preventing burnout and promoting growth, ensuring a strong financial pulse for the enterprise. Craig's insights into the emotional and financial metrics that determine business health are invaluable, especially when confronting the anxiety associated with high-churn business models.

Conclusion On How To Pay Yourself More As A Business Owner

In conclusion, the podcast episode serves as a treasure trove of strategies and encouragement for small business owners at any stage. The journey of entrepreneurship is a shared adventure, and having a guide like Craig Dacey can help navigate through every financial twist and turn. It's a powerful message that resonates deeply—entrepreneurs are not alone, and success is a story they have the power to write.

By fostering a strong support network and relentlessly pursuing excellence, business owners can keep their entrepreneurial spirit fueled and chase their dreams with confidence. This episode not only provides the insights but also extends an invitation to stay connected, engage, and reach out when guidance is needed to create a self-sustaining business. The shared wisdom and strategies outlined are not just for immediate application but for long-term growth and success in the ever-challenging financial seas of entrepreneurship.

The podcast episode is on Apple, Spotify, or other popular platforms.

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ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.

Click Here if you are wondering how much a business coach costs.

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Scaling A Business | Tips From Brett Gilliland

How do you scale a business?

Scaling a business involves strategically increasing its capacity, resources, and operations to meet growing demands while maintaining efficiency and profitability.

Sound complicated?

Brett Gilliland, founder and CEO of Elite Entrepreneurs, explains and shares his vast experience scaling businesses from seven figures to astonishing heights exceeding $100 million. His journey offers invaluable insights into the transformative power of strategic self-investment and the importance of a strong leadership group for any entrepreneur.

Listen to this episode below, find Small Business Pivots here, or keep reading about this episode below the graphic…

Scaling a Business with Brett Gilliland of Elite Entrepreneurs.

Scaling a Business

Scaling a business is similar to navigating a complex maze where each turn could lead to a new challenge or opportunity. Gilliland's conversation on the Small Business Pivots podcast with host Michael Morrison unveils the importance of pivotal moments that can either bolster or impede growth. Their discussion delves into the strategic shifts necessary for a business's survival, underlining the resilience required to push through dips in revenue and market fluctuations.

A particularly interesting facet of the podcast episode is the exploration of the role played by a character named Stephanie, whose influence in the evolution of the business is undeniable. Her impact in establishing a new sales funnel and online presence during a tough transition paints a picture of adaptability and foresight as cornerstones of business longevity, especially in the face of unforeseen global events like the COVID-19 pandemic.

Business Coaching for Scaling a Business

The episode further explores the essence of leadership coaching and strategic business planning to learn how to scale a business. Listeners are introduced to the concept of 'elite ignition,' a program designed to help entrepreneurs transcend the daily grind of operations and instead master the art of working on their businesses. Gilliland's account of dedicating time to strategic planning reveals the pathway to sustainable and scalable business success.

For those entrepreneurs who recognize the value of a robust support network and peer guidance, the episode is a goldmine of encouragement. It highlights the incredible growth potential within 18 to 24 months through commitment and a willingness to evolve. This is not merely about reaching new heights but sustaining them and pushing the boundaries of what is possible to scale a business.

Conclusion For Scaling a Business

In conclusion, this episode serves as a playbook for entrepreneurs seeking to transform their businesses. It underscores the value of mentorship, the necessity of embracing change, and the impact of investing in oneself. As Gilliland's story unfolds, it becomes evident that the journey of entrepreneurship is perpetual, demanding a blend of courage, discipline, and vision to scale your business to success.

The podcast episode is on Apple, Spotify, or other popular platforms.

👉 Don’t forget to subscribe to the show and leave a review. 👈

ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.

Click Here if you are wondering how much a business coach costs.

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13 Ways To Grow Your Small Business Faster

Are you looking to accelerate the growth of your small business?

In today's competitive market, speed is essential for staying ahead of the curve and achieving success. To help you achieve your growth goals, here are 13 proven strategies to grow your small business faster.

1. Implement Effective Marketing Techniques

Marketing plays a crucial role in attracting new customers and increasing brand visibility. Explore various marketing channels such as social media, email marketing, and content marketing to reach a wider audience.

2. Utilize Social Media Platforms

Social media platforms are powerful tools for engaging with your audience and building brand loyalty. Create compelling content, interact with your followers, and leverage social media ads to expand your reach.

3. Maximize Search Engine Optimization (SEO)

Optimizing your website for search engines can significantly boost your online visibility. Focus on relevant keywords, create high-quality content, and improve your website's loading speed to enhance your SEO efforts.

4. Build Strong Customer Relationships

Prioritize customer satisfaction and nurture lasting relationships with your clients. Provide exceptional customer service, seek feedback, and personalize interactions to create a loyal customer base.

5. Expand Your Network and Collaborate

Networking with other businesses and industry professionals can open up new growth opportunities. Collaborate on projects, attend networking events, and build partnerships with other business owners who serve audiences similar to yours to expand your reach and expertise.

6. Improve Productivity and Efficiency

Streamline your business operations to increase productivity and efficiency. Automate repetitive tasks, set clear goals for your team, and invest in tools that simplify processes to optimize your workflow.

7. Leverage the Power of Data and Analytics

Data-driven decision-making is critical to business growth. Analyze key metrics, track your progress, and use data insights to make informed decisions that drive your business forward.

8. Offer Exceptional Customer Service

Deliver exceptional customer service that sets your business apart from competitors. Listen to customer feedback, address issues promptly, and go the extra mile to create a positive customer experience.

9. Develop a Strong Online Presence

In today's digital age, having a strong online presence is essential for business growth. Maintain an active presence on social media, update your website regularly, and engage with your audience to build brand authority.

10. Explore New Market Opportunities

Stay agile and adaptable by exploring new market opportunities and niches. Conduct market research, identify emerging trends, and be willing to pivot your business strategy to capitalize on new growth areas.

11. Enhance Your Brand Reputation

Build a strong brand reputation that instills trust and credibility among your target audience. Consistently deliver on your brand promise, showcase positive customer testimonials, and actively manage your online reputation.

12. Invest in Continuous Learning and Development

Stay ahead of the curve by investing in continuous learning and professional development. Attend industry conferences, workshops, and training programs to expand your knowledge and skills to drive business growth. Learn to Earn!

13. Monitor and Adjust Your Business Strategy

Regularly review your business strategy, track your progress, and be willing to pivot when necessary. Stay agile, monitor market trends, and adjust your strategy to seize new opportunities and overcome challenges.

By implementing these 13 strategies, you can accelerate the growth of your small business and achieve success faster. Remember that consistency, dedication, and a willingness to adapt are key to driving sustainable growth in today's competitive business landscape.

Take action today and implement these strategies to propel your small business toward greater success and prosperity.

Click Here if you would like one of the top small business coaches to help you plan your growth strategies.

Or call 405-919-9990 today!

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How To Build Wealth | Tips from Michael Del Prete

The average millionaire has 7 streams of income.

Building wealth starts with a plan.

In a recent enlightening podcast episode, Michael Del Prete, an accomplished real estate investor and the Arizona Real Estate Investors Association (AZREIA) executive director, takes listeners through his incredible transition from managing bands to building wealth. Del Prete's story is not just about the real estate market; it's a comprehensive guide on navigating life's transitions with entrepreneurial finesse and achieving success against all odds.

Listen now or keep reading below…

The Journey To Building Wealth

His journey began in Waterbury, Connecticut, with humble roots that planted the seeds for his relentless drive and determination. Michael emphasizes the importance of strategic partnerships, business coaching, and mentorship in his career evolution. From leveraging the expertise of others to harnessing resources and capital, his experience offers a roadmap for those seeking to make the leap from employment to entrepreneurship.

Insights for Wealth Building

Michael's narrative is rich with insights, particularly in understanding how seemingly unrelated early career gigs can lay the foundation for future success. The podcast delves into how personal milestones, such as marriage and the birth of his children, can significantly pivot one's professional trajectory. This pivot necessitated a search for stability but also opened doors to new opportunities, leading him to Phoenix, Arizona's dynamic real estate market.

Lessons On Scaling A Business For Building Wealth

Throughout the episode, Del Prete shares invaluable lessons on scaling a business. He discusses his role in the Arizona Real Estate Investors Association and how adapting to the shifting sands of market conditions, including the impacts of the COVID-19 pandemic, is crucial for growth. He emphasizes the significance of being in front of the right audience, which he achieved by taking the helm of an established association and leveraging its network to expand his reach.

Moreover, Michael highlights the benefits of wealth-building through real estate investment. He explains how associations like the Arizona Real Estate Investors Association (AZREIA) provide a platform where investors can access vetted business associates, from eviction attorneys to insurance companies. This community and support system are vital for navigating the complexities of property investment while focusing on strategic business growth and wealth building.

In the concluding chapter of the podcast, Del Prete encourages listeners to start their wealth-building journey, regardless of the size of their initial step. He underscores the notion that creating wealth is a marathon, not a sprint, and advises aspiring entrepreneurs to pace themselves for long-term success.

Conclusion For Building Wealth

In closing, the episode is not merely a discussion about real estate investment strategies; it is a comprehensive guide to achieving entrepreneurial success through adaptability, continuous learning, and strategic networking for building wealth. Michael Del Prete's story serves as a testament to the power of resilience and the potential to transform one's life through calculated risk-taking and a commitment to growth.

The key takeaway from this podcast is clear: whether you're looking to invest in the bustling market of Phoenix or elsewhere, the principles of entrepreneurship, wealth building, and property investment remain the same. Equip yourself with knowledge, surround yourself with the right people, like a mentor or business coach, and seize the opportunities that come your way.

With these strategies, you're well on your way to building a successful business and a wealthy empire.

The podcast episode is on Apple, Spotify, or other popular platforms.

👉 Don’t forget to subscribe to the show and leave a review. 👈

ARE YOU READY TO TAKE YOUR COMPANY TO THE NEXT LEVEL?

If so, schedule a call today with the premier small business coach. We’re ready to help you put in place the habits today that will unlock a lifetime of success tomorrow.

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How To Get More Done: 3 Daily Habits To Be More Productive

Stop reading personal development books! 

Most of us know what to do; we do not do them because it is too much effort to take action on the tasks we have learned. Or, what we learned does not seem applicable in our situation. We then pick up another bestseller, hoping there is a more straightforward solution.

Yes, procrastination is also to blame. Most people procrastinate because they are afraid of the possible outcome, failure. Others procrastinate because they don't like change; the task is too hard, confused about how to tackle it, overwhelmed, lacking clarity, or are distracted easily.

If you can identify with any of these, I've got three simple habits I use every day to get me closer to my goals, move the needle, and get more done.

Increase productivity and become highly efficient with these daily habits.

Use A Notepad

You are more likely to get things done when you write things down—personal and business.

Carry your notepad everywhere; in the car, by your nightstand, on your desk, in a meeting. Everywhere!

Ever been driving in the car and remember you need to pick up dry cleaning by five? Write it down when you are stopped. Ever been in a meeting and someone mentions something that reminds you of something you need to do when you get back to the office or home? Write it down. Ever woke up in the middle of the night with a life-changing idea? Write it down.

Ever been daydreaming by the pool, and remember you need to plan that particular party for next week or next month? Write it down.

Our brains are distracted every second, with songs, advertising, social media, conversations. It isn't easy to remember everything we need to do.

Your notepad will be your brain dump so that you can continue to focus on the task at hand but not forget what you need to do later. Use the notepad for business and personal responsibilities. Carry it with you everywhere; you can continuously prioritize what is most important to tackle before days end.

Review your notepad frequently throughout the day, crossing off completed tasks and prioritizing the uncompleted tasks so that you are more productive and get more things done.

Time Block

It takes an average of 20 minutes to focus on the tasks at hand to be productive. Each time a distraction occurs, it takes 20 minutes to re-engage with your productivity. 

The human brain can focus on two-hour durations. 

Block out 60-minute intervals each day with no distractions. Start with one hour, and once you see the benefit of getting more done, add another hour.

Turn off the cell phone, silent email alerts, close the door, turn off social media, and any other possible distraction to be more productive.

Focus On Systems, Not The Goals

"Success is nothing more than a few simple disciplines, practiced every day." - Jim Rhone

Goals are essential for success. But, they should not be the primary focus.

Focus on the day to day tasks that must be executed for the goal.

Focusing on the goal is a distraction. Focusing on the daily disciplines is what accomplishes the objectives.

If your goal is to lose 15 pounds, focus only on the 1,500 calories each day. You will get there with this system.

If your goal is to close $150,000 in sales, determine how many qualified leads need to be reached each day. You will get there with this system.

If your goal is to write a book, determine how many words need to be typed each day. You will get there with this system.

Conclusion: How To Be More Productive

Start with these simple daily habits.

1. Use A notepad

2. Time block

3. Focus on systems, not the goals

Click here if you are ready to "Get Serious" and take your productivity to the next level!

In Times of Crisis, A Business Must Have A Plan

"A goal without a plan is just a wish." - Antoine de Saint-Exupery

"If you fail to plan, you are planning to fail." - Benjamin Franklin

The Covid-19 virus has certainly caused disruption and desperation, affecting most if not everyone around the world. At this moment, most small business owners are desperately trying to figure out what to do next. Many consumers are trying to figure out how they are going to pay bills in the future.

Like most, I have never experienced anything like this in my lifetime. Like most, I try to spread encouragement and inspiration. Like most, I try to help guide and inspire others with my knowledge and experience to help others who are desperately looking for solutions. 

Right now, small business owners would fit that category. And although my small business coaching services are primarily for small business owners, they are also applicable to most leaders, executives, and company culture builders.

Realizing, most of us do not have time to read a lengthy article, let's get to the meat of the subject.

In times of crisis, time is of the essence.

In times of crisis, time is of the essence to make a plan.

A crisis plan is not the same as a typical business plan. A business plan is more about purpose, mission, and vision in a stable economy. A crisis plan is more about prioritizing areas that can help a business navigate through uncharted waters.

A crisis plan addresses areas of your business that affect your outcomes like profitability and the ability to operate in the future.

Realizing that every business is in a different season of vulnerability, the areas addressed may or may not make sense for your business or apply to your business at this time of crisis. 

As a small business coach and marketing professional, I must also state this is not a public relations management crisis plan. This plan is to help guide and direct management to effectively recognize strengths and weaknesses to help navigate your business to the other side of the crisis.

Here are some areas to consider for a crisis plan:

• Action Plan - high, medium, and low priorities

• Innovation Assessment - opportunities thinking outside the box

• Cash is King - catch up invoicing, collections, etc.

• Purchasing - eliminate unnecessary costs

• Vulnerability Assessment - weak areas

• Telecommuting - equipment, systems, processes, compliance

• Systems & Processes - rethinking status quo

• Communications - team leaders and staff

• Contact list - for quick distribution

• Designated chain of command

• Forecasting - cash flow for riding out the storm

• and many more depending on the current state of your business.

If you already have a plan, congratulations! You are ahead of most small businesses. If you would like another set of eyes to review, I would be happy to help you.

If you do not have a plan and would like assistance, I would be happy to help you.

You may reach out to michael@michaeldmorrison.com.

5 Stress-Reducing Strategies For Business Leaders

No matter where we live, most people are bombarded with a tsunami of marketing. Marketers everywhere are screaming for our attention. Digital marketing researchers claim we see anywhere from four to ten thousand advertisements or brands every day.

It is not a secret that marketers do their best to create a call to action. A call to action tells you what to do or gives a specific task to take right now. Our lives can become very distracted when we are told what to do subconsciously through advertisements four thousand times or more per day, as well as the hustle and bustle demands of everyday life.

Our lives can get very stressful in no time at all, with advertisers trying to get a piece of our attention. Soon, we are chasing rabbits, squirrels, or those shiny new pennies that seem to appear out of nowhere, all day, every day. It’s easy to forget what is essential, but following these five simple tips can help reduce stress in our life.

Focus On One Thing At A Time

Research has proven that the brain is incapable of keeping laser-focused on two things at once. It is time that we accept the fact that the brain cannot multitask. Those who think they are efficient multi-taskers are just master switchers who can quickly switch from task to task. 

By focusing on one thing at a time, your memory will remember more in the future, you will get more tasks completed quicker, you will be able to work smarter, and you will make better decisions. The rewards for focusing on one thing at a time? Less stress and a quicker satisfaction of accomplishment.

Establish A Routine

Successful business leaders are adamant about having structured routines. Knowing in advance the tasks you need to accomplish is vital to your overall well-being. There is nothing more stressful than having a bucket list of things to do and not knowing where to start.

As well, a solid routine can help you in other areas such as: building good habits and breaking bad habits, motivation, momentum, efficiency, reducing procrastination, eliminating distractions, feeling of accomplishment, personal development, consistency, regularity, and most importantly, your success as a business leader.

Organize Your Life

Disorganization is one of the biggest stress triggers. It becomes frustrating and stressful very quickly when we cannot find something that we need right now. More times than not, the reason we need something right now is that we are behind schedule. The culprit for all of this? Disorganization

To stay motivated, we all need some control in our life. Being organized and knowing where things are can help with that sense of control. Organizing our work area and home are great places to start, but many fail to organize their life.

Setting routines, reducing our commitments by learning to say no, and learning to delegate are just a few areas that could reduce our stress level in life if well organized.

Write It Down

The brain is a mighty processor of information. Research has estimated that the whole brain processes 400 billion bits of information every second. The human brain has 10 billion neurons transmitting data to other cells. Your mind has 10 trillion synapses that this information travels over. And, our mind never sleeps. Your brain never stops processing, nor does it ever stop growing.  

With all this processing going on, it is impossible to hold too many thoughts in your head at once. Your brain works mysteriously. It’s a wonder how it remembers anything at all with as much as it is processing for survival.

Ever had one of those “spectacular” ideas that pop in your brain out of nowhere. One of those ideas that is so good you will never forget? And then not even ten minutes later, well, you forget. It happens, and now you know why.

The process of knowing something and trying to remember it can add levels of stress. You know that thought was right there, and you use so much energy, not just trying to remember what it was but also why or how you forgot it.

For this reason, enter the pencil and paper. Better yet, a journal. Ask Richard Branson one of the keys to his success, and he will proudly tell you, his journal. He carries it with him everywhere he goes. And he writes every thought, comment, or bright idea moment down. He has credited some of his best successes to looking back through his journal.

Writing things down is easy. Remembering to write it down is the hard part.

Learn To Say “NO”

“The difference between successful people and really successful people is that really successful people say no to almost everything.” – Warren Buffet

Is your schedule crammed full of appointments, family obligations, to-do lists, and honey-do chores? Then learn to say no like Warren Buffet and many other successful business leaders.

Their reasoning? They know that everyone has the same amount of time in the day. They also know that no one can add more time to their day just because they overcommitted. They fulfill their agenda first to accomplish their top priorities, and then they prioritize other requests.

Learning to say no can be challenging to say, but saying yes isn’t healthy. Saying yes can leave you overcommitted and put your body under too much stress. Leaving you run down and susceptible to illness.

Decide what matters most, and it will be easier to say no. Without having clarity with what is most important, you are more apt to say yes.

Closing

Stress is a significant health issue for many people. The symptoms of anxiety can contribute to high blood pressure, heart disease, diabetes, and numerous other areas of your body. To significantly reduce stress in your life, make a plan, follow a routine, organize your life, write things down, and learn to say no.