Featured Coaching Training: Bring Stability and Order to Your Business | 4 Financial Power Principles
Everyone seeks financial stability, but each of us has a different definition of what that entails. So what makes you feel stable or secure? In this series, learn how to obtain financial stability and order in your personal life and business effectively!
Featured Coaching Excerpt - Notes & Transcript, Part 1
Financial Stability & Order: PRINCIPLE 1: The Definition of Stability
Lesson Nugget: Your numbers should not never surprise you or sneak up on you.
Financial Stability & Order: PRINCIPLE 2: Create an Planned Expense Report / Forecast.
Lesson Nugget: You keep an accurate log all expenses and income so that you can begin to fastidiously manage them both.
Editor's Note: To obtain the FREE download, email us at:
Financial Stability & Order: PRINCIPLE 3: Look For Outliers
Lesson Nugget: Look for unique, high, absurd, and false expenses and income.
Fun Factoid: Leslie Wunderman, better known by her recording and stage name Taylor Dayne, is an American pop and freestyle music singer-songwriter and actress. -Wikipedia
Financial Stability & Order: PRINCIPLE 4: Make Sure That You or Someone Who Is Detailed, Fastidious and Not Afraid of Confrontation Approves All Purchases and Does Not Just Report Expenses
Lesson Nugget: Don’t let your grandmother play linebacker for the Packers.
Editor's Note: Clay will be releasing his singing tutorial soon!
- Okay so Thrivers, we are covering all of these different principles, the four power financial principles here for you guys, and we really do want to make sure that you guys get these, so we're gonna go back and review them, and Clay, maybe you can put a little bit of meat on them.
- I'll put a little flavor on there.
- Yeah, a little flavor.
- Yeah, a little meat.
- Flavorful meat.
- Yeah, flavorful meat. Okay, so principle number one, the definition of stability, okay. So Clay, why is it important for businesses to be stable in their financials?
- Because naturally every business that I've ever seen that is started by somebody that is motivated enough to start their own company, the person who starts the company is a little bit irrational, a little bit unstable, a little bit discontent, otherwise you wouldn't be crazy enough to start a business. I mean you gotta be kinda crazy to start a company. But then you gotta dial it in and have somebody whose stable whose running your finances.
- Okay, principle number two, create a planned expense report and forecast for the business.
- Just type out all of the planned expenses and you can download a Performa Outline, a sample, just click email@example.com, and we'll send it to you, just request it. Or you can come out to one of our workshops, and have a fantasmagoria of financial fun here in Tulsa, Oklahoma, the birthplace of really tourism. Come here and we'll get it to you.
- Principle number three, look for outliers.
- Look for outliers, an outlier is something that's unusual. Something that's not a normal occurrence, it's something unique. It's kinda like Taylor Dayne, do you remember Taylor Dayne? ♫ Love will lead you back ♫ Someday I just know that ♫ Love will lead you back in my arms ♫ Where you belong ♫ Now, why am I doing that? Because that's freaking weird. Doesn't make any sense, you'll probably have that song stuck in your head the rest of your life now. But the thing is that it's not normal for somebody whose teaching an accounting, financial class to start singing Taylor Dayne. It's weird, it's random, it's unusual. The only way you would know is if you watch enough of these episodes, you will know that I have not previously sung a whole lot of Taylor Dayne.
- Principle number four, make sure that you or someone who is detailed, fastidious and not afraid of confrontation, approves all the purchases and does not just report expenses, that's the fourth principle here.
- Yeah, it doesn't do you any good to have someone who just comes to you and goes, "Yeah, someone spent all of our money. "They did, they did, they spent all of it." No, you want someone who pushes back and fights against all expenses. It's like erosion, erosion can eat away a beach, it can eat away land, you gotta fight against that erosion. Okay, you gotta stop the erosion of your finances. You gotta push hard back against that, that's how it works. Because otherwise you might be, end up living in a van down by the river while listening to Taylor Dayne. ♫ If you walk out that door ♫ Darling I'll set you free ♫ But I know in time ♫ We'll be together ♫
- Clay, thank you so much
- ♫ I will try
- for being with us today.
- ♫ To stop you now from leaving ♫
- Thrivers, we are broadcasting live to 44 countries now worldwide, we'll see you next time.
- ♫ Someday I just now that ♫ Love will lead you back into my arms ♫