1025. Future-Proof Your Business: Essential Financial Safeguards with Kelly Roach
The Kelly Roach Show
Kelly Roach
4.9 • 964 Ratings
🗓️ 16 May 2024
⏱️ 24 minutes
🧾️ Download transcript
Summary
In this episode of The Kelly Roach Show, Kelly delves into invaluable insights on how to future-proof your business by establishing robust financial safeguards to withstand potential business disruptions. Her tactical advice equips business leaders with essential tools to navigate the unpredictable currents of today's economic landscape. She explores practical steps to fortify financial foundations and ensure business continuity amid challenges. By discussing the creation of emergency funds, the art of negotiating better rates with vendors, and the importance of prudent credit management, Kelly outlines a comprehensive range of strategies designed to enhance fiscal resilience. She underscores the importance of regular financial reviews and active participation in profit-generating activities, highlighting that thorough preparation and strategic financial management are crucial for driving sustained business growth.
Also in this episode:
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Establish an emergency fund and perform monthly financial reviews, cutting unnecessary expenses and negotiating vendor rates.
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Learn about building corporate credit distinct from personal credit to open up new financing avenues.
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Evaluate where your business might not be investing enough resources and correct the course to ensure growth.
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Train your team on a '4X strategy' to ensure they contribute to, rather than detract from, the business's profitability.
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Transcript
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| 0:00.0 | Welcome to the Kelly Roach Show, the place for no-fluff, easy to implement 20 minute or less business and leadership lessons to help you build a sustainable business that scales. |
| 0:17.0 | Lead with integrity and create a lasting legacy. |
| 0:21.0 | I'm Kelly Roach, former NFL cheerleader and Fortune 500 executive turned |
| 0:25.9 | eight figure entrepreneur. Let's get started. |
| 0:30.3 | Welcome back to the Kelly Roach show. Today we're talking about getting financial contingencies |
| 0:35.2 | in place to stay the course for the disruption ahead. |
| 0:40.3 | I'm going to give you specific tactical things |
| 0:42.2 | that you should get started on right now that could make all the difference for you as we progress through this new era of business challenge that we are facing. |
| 0:53.0 | Now, before we get down to business, |
| 0:55.0 | I want to remind you, I am not a financial planner. |
| 0:58.0 | I'm not an accountant, lawyer, doctor, therapist, you get the idea. |
| 1:01.0 | I'm not giving financial advice. I am giving you my learned |
| 1:06.3 | experience and my learned wisdom being a business leader and mentor in the online space over the past decade. |
| 1:15.4 | So I hope this will be very powerful for you and as always I'm delivering to you the information |
| 1:21.4 | that I wish so badly that someone had shared with me when I was coming |
| 1:28.5 | up to speed. So here's what I'll tell you. I built my first company to eight figures with essentially no |
| 1:36.6 | outside funding and what I mean by that is I had access to my own personal |
| 1:40.6 | credit cards of course but I would spend on them and pay them off at the end of |
| 1:43.8 | every month I didn't use any loans I didn't use any debt I didn't use any outside |
| 1:47.6 | funding because my background was in sales I really understood that in order for me to grow a successful business |
| 1:57.3 | that my focus had to be on profit producing activities every single day. |
| 2:01.5 | And so that's exactly what I did. Even when I was working full time |
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