Why Cash Flow is King with Erick Rheam
The Speaker Lab Podcast
The Speaker Lab
4.8 • 575 Ratings
🗓️ 7 December 2021
⏱️ 47 minutes
🧾️ Download transcript
Summary
We have to start somewhere right? And we've all been there, trying to build a business, cash is tight, and we need to make ends meet.
Erick Rheam, a great friend of TSL, has found incredible success in recent years as his speaking career has taken off. He's about to release his sixth book and year after year he's breaking his own income records. So, how is he doing it?
Erick joined us for a deep dive into cash flow management. We're talking about four must-haves when it comes to building a sustainable business with a solid financial foundation.
There's no claim here to financial expertise, but you'll see from our conversation that there is a ton of life experience and business success to learn from as you grow your own speaking career!
THE FINER DETAILS OF THIS SHOW:
- The cyclical nature of a speaking career
- Why you need to treat your speaking career like a real business
- What are money buckets and why do they matter?
- What it means to "run lean"
- Why you need a cushion of cash
- Determining an ROI
- Evaluating recurring expenses
- And much more!
EPISODE RESOURCES
- Get Free Speaker Resources
- Book a Call with The Speaker Lab
- Calculate Your Speaking Fee
- Join The Speaker Lab Community on Facebook
- Subscribe on Apple Podcasts
- Subscribe on Spotify
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, friend, are you looking for ways to book more paid speaking gigs? |
| 0:03.7 | Well, of course you are. |
| 0:04.4 | Maybe you're just starting out as a speaker. You're trying to figure out what to prioritize in order to get booked and paid as quickly as possible. Listen, if that's you, I want you to join us for a free live training where you're going to learn how to create the number one marketing asset that you need to consistently book more paid gigs. This is a tool that one speaker on our team used to book over $36,000 in paid gigs before he even had a website. |
| 0:27.2 | This training is free. |
| 0:28.1 | It's live and we offered a few times a week so you can find a time that works best for you. |
| 0:32.5 | All you got to do is head over to thespeakerlab.com slash get booked. |
| 0:36.3 | That's all one word. |
| 0:37.2 | Thespeakelab.com slash get booked. That's all one word, the speakerlap.com slash get booked |
| 0:39.3 | and register right now. We look forward to seeing you on the live training. |
| 0:46.8 | Hey, what's up for? I'm welcome back to the speaker lab podcast. So good to have you here with us today for episode 371. We've got another great show for you today. We're going to be talking with our friend of the program and my personal friend, my buddy, Mr. Eric Ream. Now, as you may know, Eric has joined us on the podcast multiple times to unpack the nuts and bolts of the speaking business. |
| 1:11.1 | And today we're going to be talking all about handling cash flow. |
| 1:14.8 | Now, we've all been there, Eric and myself included, we're trying to build a business with |
| 1:18.7 | limited resources and tight cash flow and desperately trying to make ends meet. |
| 1:23.7 | You've probably heard us talk about it before, but one of the goals for all of us is we |
| 1:27.4 | just want to eat and live indoors. That's it, right? |
| 1:30.0 | We are by no means financial experts, but I will tell you this, that Eric and I have learned a lot along the way of building our own businesses. |
| 1:36.0 | We are here to share some of those golden nuggets. As a speaker, your business is cyclical and no one month will look like the same as another. |
| 1:45.6 | And so during our conversation, we're going to walk through the four different cash flow |
| 1:48.9 | management must-haves as you build your business. |
| 1:51.5 | We're also going to talk about accounting for every dollar that comes in and the financial |
| 1:54.8 | buckets that you should be prioritizing. |
| 1:56.9 | And we're just going to swap some stories of building sweat equity and busting our butts |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Speaker Lab, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Speaker Lab and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.