The Financial Dad podcast

30:41

What is Gross Revenue? What is Net Profit? What investment strategies make sense for me as a business owner? We dove into it all today in this episode of the Financial Dad podcast. We talked about the importance of understanding financial terminology, particularly for self-employed individuals. We explore what it means to be 'making bank' and how to allocate extra income wisely. The conversation delves into various investment strategies, comparing real estate and stock market investments, and highlights the unique financial landscape faced by entrepreneurs. We talked about.... 👀Understanding gross revenue vs. net profit is crucial. 👀Self-employed individuals must have a clear business plan. 👀Saving at least 10-15% of income is essential for financial health. 👀Making bank means saving a significant portion of income. 👀Investment strategies should align with personal financial goals. 👀Real estate can be a good investment but comes with risks. 👀Stock market investments offer liquidity and ease of access. 👀Financial advisors help keep clients focused on long-term goals. 👀Entrepreneurship involves more financial risk than traditional employment. 👀Understanding financial options is key to making informed decisions. Other Episodes Referenced https://www.youtube.com/watch?v=rHZ-Fuf8_Kw https://www.youtube.com/watch?v=J5KwwbGfLYc Chapters 00:00 Understanding Financial Terminology 04:43 Defining 'Making Bank' as a Self-Employed Individual 09:20 Allocating Extra Income Wisely 13:51 Investment Strategies and Priorities 18:19 Real Estate vs. Stock Market Investments 23:12 The Complexity of Business Ownership 27:36 The Entrepreneurial Mindset and Financial Decisions The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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The Power of Small Steps from Struggle to Success | Akira Iguchi x TFD 26:53

acum 8 zile26:53

26:53

In this conversation, we talked with Akira Iguchi about his transformative journey from feeling lost and alone in New York City to becoming a successful entrepreneur and author. We talked about the importance of mindset, overcoming self-doubt, and the small, practical steps he took to build his business from scratch from a place of passion. Akira felt lost and alone when he first moved to New York City. Meeting Tony Robbins transformed Akira's mindset. He started organizing small seminars to share his message. Akira learned the importance of combining passion with business acumen. He set small financial goals to survive in the early days. Constantly improving and adapting was key to his success. Time management is crucial for productivity and success. Asking for help and advice from others is essential. Financial stability allows for personal investments and growth. Taking actionable steps is vital for aspiring entrepreneurs. 00:00 Introduction to Akira's Journey 01:46 From Struggles to Self-Discovery 04:35 The Turning Point: Moving to the U.S. 06:35 Building a Business from Passion 10:28 Overcoming Self-Doubt and Fear 14:53 Fundamentals of Business Success 15:43 Time Management Strategies 19:20 Making Key Business Decisions 21:11 Financial Growth and Investment 23:11 Advice for Aspiring Entrepreneurs Where to find Akira: Instagram: @akiraiguchi1 Lifestyle Millionaire: How to Turn Your Passion into a $1,000,000 Business by Akira Iguchi Things mentioned: Think and Grow Rich!: The Original Version, Restored and Revised by Napoleon Hill The 7 Habits of Highly Effective People by Stephen R. Covey Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Neuro-linguistic programming (NLP) is a communication and psychology technique that aims to change behavior and thinking patterns. It's based on the idea that language, neurological processes, and behavior are connected. The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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Understanding the REAL Financial Costs of Having a Baby as an Entrepreneur 22:56

acum 13 zile22:56

22:56

Thinking of having kids?! It can be a challenging chapter to navigate when you're self-employed! You likely won't receive a leave compared to those who are employed through a larger company. So this episode today will help you plan and prepare financially for having a baby! In this episode of the Financial Dad podcast, Bridget Sicsko discusses the financial implications of having children, particularly for self-employed individuals. The conversation covers essential topics such as budgeting for new expenses, planning for maternity leave, and the importance of estate planning. Bridget emphasizes the need for thorough financial preparation to ensure a smooth transition into parenthood and to secure the family's financial future. -Consider the financial implications before having children. -Budget for the gap in income during maternity leave. -Research state-specific benefits like FMLA for self-employed individuals. -Plan for increased costs associated with raising a child. -Discuss financial readiness with your partner before pregnancy. -Open accounts for your child's future expenses early on. -Understand the difference between wills and trusts. -Consider life insurance to protect your family's financial future. -Create a buy-sell agreement for business succession planning. -Seek professional help for estate planning and financial advice. titles -Navigating Financial Parenthood: Essential Tips -Preparing Financially for Your Child's Arrival The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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The Reality of Freelancing as a Writer in the Entertainment Industry | Laura Hunter Drago x TFD 30:09

acum 20 zile30:09

30:09

Hello and welcome back! In this episode of The Financial Dad podcast, we interviewed Laura Hunter-Drago, an Austin Film Festival award-winning writer and producer in the entertainment industry. We cover everything from Laura's journey into entrepreneurship, to pursuing both financial stability and artistic fulfillment, to the challenges of funding creative projects, to finding flexibility in a busy schedule. If you're finding your legs in the entertainment industry, this episode will help you be more than just a struggling artist. 00:00 Introduction to Laura Hunter-Drago 01:00 The Journey from Acting to Entrepreneurship 03:55 Navigating the Corporate and Creative Worlds 07:36 Funding Creative Projects: Self-Funding vs. Crowdfunding 11:21 The Importance of Financial Stability for Creatives 15:04 Managing Time and Flexibility in a Creative Career 18:55 Building a Support Network as an Entrepreneur 21:42 Understanding Money: A Personal Reflection 25:32 Advice for Aspiring Freelancers and Entrepreneurs 27:28 Current Projects and Future Aspirations Where to find Laura: Instagram: @laurahunterdrago Website: laurahunterdrago.com The Crime at Camp Ashwood Audio Drama: https://podcasts.apple.com/us/podcast/the-crime-at-camp-ashwood/id1713637754 Things mentioned: Fiverr The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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Master Your Money Management! From Cashflow Projections to Profit & Loss Statements for Freelancers & Entrepreneurs 30:09

acum 27 zile30:09

30:09

Hello! In this episode of the Financial Dad podcast, Bridget and Tim discuss the essential aspects of managing cash flow for entrepreneurs, creatives, and freelancers. The conversation covers the importance of record keeping, creating financial projections, understanding profit and loss statements, and the role of accountants and accounting software in maintaining financial health. While many of us are creatives, and want to focus on our given craft, investing time (and sometimes money) into our business admin & financial planning can be make it or break it for the success and longevity of our businesses. 💸 Managing cash flow is crucial for entrepreneurs. 💸 Record keeping is essential for tax purposes. 💸 Consulting an accountant can save you money in the long run. 💸 Create a financial projection to anticipate income and expenses. 💸 Understanding profit and loss statements is key to financial health. 💸 Using accounting software can simplify financial management. 💸 Separate personal and business finances for clarity. 💸 Having a financial cushion is important when starting a business. 💸 The numbers provide a clear picture of your business's health. 💸 It's important to be proactive about financial management. 00:00 Navigating Cash Flow as an Entrepreneur 06:07 The Importance of Financial Planning 12:42 Creating Projections and Tracking Income 18:29 Transitioning from Projections to Actuals 23:52 Utilizing Accounting Software for Efficiency 28:30 Embracing Financial Realities Things Mentioned: Quickbooks Wave Xero The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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The Keys to Consistency, Time Management, and Scaling Up your Business | Ben Greenfield x TFD 42:42

acum 5 weeks42:42

42:42

In this episode, Ben Greenfield shares his journey from a personal trainer to a successful entrepreneur in the health and wellness industry. He discusses the importance of finding purpose, the value of delegation, and effective time management strategies. Ben emphasizes the significance of creating value for others and how this mindset has shaped his business approach. He also offers insights for aspiring entrepreneurs on identifying their strengths and building a successful business around them. Talking points: 🧠 Ben started his entrepreneurial journey at a young age. 🧠 He transitioned from personal training to online coaching. 🧠 Outsourcing and hiring a team is crucial for scaling a business. 🧠 Time management is essential for maintaining work-life balance. 🧠 Creating value for others should be the primary focus in business. 🧠 Consistency in routines leads to long-term success. 🧠 Family values play a significant role in Ben's life and work. 🧠 Books and self-education have been his primary mentors. 🧠 Finding purpose is key to staying motivated in business. 🧠 Ben's journey illustrates the importance of adaptability and learning. 00:00 Introduction to Ben Greenfield 02:06 Ben's Journey into Health and Wellness 04:24 Transitioning from Personal Trainer to Entrepreneur 07:10 Building a Successful Online Coaching Business 09:42 The Evolution of Kion and Other Ventures 12:15 Mentorship and Team Building in Entrepreneurship 14:50 Navigating the Entrepreneurial Journey 17:34 The Importance of Delegation and Focus 20:08 The Power of Delegation and Outsourcing 22:16 Time Management Strategies for Entrepreneurs 32:38 Lessons Learned: Successes and Regrets in Business 36:57 Foundations of Entrepreneurship: Finding Your Purpose Where to find Ben: Where you can find Ben: Ben Greenfield Life KION Supplements The Life Network Ben's Facebook Ben's Instagram Ben's X Ben's YouTube Ben's LinkedIn Things mentioned: The 4-Hour Work Week: Escape The 9-5, Live Anywhere And Join The New Rich By Timothy Ferriss The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller Ikigai 2.0 eBook: A Step-by-Step Guidebook to Finding Life Purpose & Making Money Meaningfully (+ Bonus Workbook) The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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How to Manage Your Time & Motivation as an Entrepreneur (Part 2) 47:51

acum 6 weeks47:51

47:51

In this episode of The Financial Dad podcast, we do a total deep dive into essential strategies for entrepreneurs to stay organized, motivated and disciplined. Our conversation delves into the significance of to-do lists & time management, managing overwhelm, prioritizing tasks, and easing anxiety related to deadlines. We also focus on the importance of systems and apps/technology in project management, along with tips for navigating remote work and maintaining productivity in isolation. Organization, discipline, and knowing yourself are integral to your success as an entrepreneur! Talking points: 🧠 A to-do list expands your ability to manage information. 🧠 Writing things down helps prevent forgetting important tasks. 🧠 Prioritization is key to managing overwhelming tasks. 🧠 Anxiety can be a motivating factor for productivity. 🧠 It's important to distinguish between urgent and important tasks. 🧠 Using technology can streamline project management. 🧠 Creating a dedicated workspace enhances focus and productivity. 🧠 Scheduling tasks can help manage time effectively. 🧠 Accountability can improve motivation in remote work. 🧠 Understanding your own psyche is crucial for productivity. 00:00 The Importance of To-Do Lists 04:44 Managing Tasks Amid Life Changes 09:58 Prioritizing Tasks and Managing Anxiety 15:06 Balancing Work and Personal Life 21:34 Utilizing Technology for Task Management 23:45 Mastering Email and Task Management 25:50 Building Effective Project Management Systems 30:20 Leveraging Technology for Business Efficiency 35:10 Navigating Remote Work and Isolation 46:30 Creating a Productive Workspace Things mentioned: Focusmate: focusmate.com/?fmreferral=6emamkRi7u Notion Auditional WeAudition Trello Asana The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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You Could Use a Lawyer! Trademarking & Entity Formation for Entrepreneurs | Shefali Lakhani x TFD 31:17

acum 7 weeks31:17

31:17

In this episode of the Financial Dad podcast, hosts Hally Smith and Bridget Sicsko welcome attorney Shefali Lakhani to discuss the importance of legal guidance for entrepreneurs. Shefali shares insights on when to consult a lawyer, the different types of business entities, how lawyers charge for their services, and the significance of intellectual property, including trademarks and copyrights. The conversation emphasizes the value of personalized legal advice and the complexities of navigating the legal landscape as a startup founder. Key Takeaways: ⚫Consult a lawyer early to avoid future issues. ⚫Lawyers can provide personalized guidance tailored to your business. ⚫Understanding different business entities is crucial for entrepreneurs. ⚫LLCs and corporations offer limited liability protection. ⚫Trademarks protect your brand and increase business valuation. ⚫Legal services are more than just document preparation. ⚫Building a relationship with a lawyer can save time and stress. ⚫Intellectual property is a valuable asset for any business. ⚫Lawyers charge hourly or flat fees depending on the service. ⚫Navigating the trademark process can be complex without professional help. 00:00 Introduction to Legal Guidance for Entrepreneurs 01:17 When to Consult a Lawyer 06:37 Understanding Business Entities 12:00 The Journey to Becoming an Attorney 15:02 How Lawyers Charge for Their Services 20:38 Navigating Intellectual Property: Trademarks and Copyrights 👇Learn more about Shefali https://www.linkedin.com/in/shefali-lakhani/ https://www.instagram.com/lawyershefali/ https://www.lakhanilegal.com Shefali Lakhani is the Founder and Managing Attorney of Lakhani Legal, a business and IP law firm, working with businesses, startups, and creatives. She provides legal advice to businesses at every stage of growth, ensuring that they're well-protected and set up to thrive! With years of experience in law firms and in the tech and innovation spaces, Shefali brings a fresh perspective to her clients to provide tailored and innovative legal solutions and simplify complex legal issues. The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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Unlocking the Entrepreneurial Mindset (Part 1) | The Financial Dad 33:33

acum 8 weeks33:33

33:33

In this episode of The Financial Dad, we discuss the essential traits and skills integral in entrepreneurship. We explore the importance of mental toughness, a clear vision, leadership skills, and time management, emphasizing how these elements contribute to success in entrepreneurial ventures. Our conversation highlights the challenges of rejection in any self-employment journey, the necessity of strong self-belief, and practical strategies for managing time effectively in a freelance or entrepreneurial setting. Talking Points: 🧠 Every entrepreneur needs a clear vision of their goals. 🧠 Mental toughness is crucial for dealing with rejection. 🧠 Resilience is key to bouncing back from setbacks. 🧠 Self-belief is essential in the face of challenges. 🧠 Time management is a critical skill for entrepreneurs. 🧠 Discipline involves doing tasks even when unmotivated. 🧠 Breaking down goals into smaller tasks aids productivity. 🧠 Energy and chemistry are important in professional interactions. 🧠 Structure in work hours enhances productivity. 🧠 Learning to manage time effectively is a continuous process. 0:00 Intro to Entrepreneurial Personality Traits 2:25 Mental Toughness 4:49 Taking Rejection at Face Value 7:35 Projecting Confidence 15:35 Discipline and Motivation 19:24 Break Goals Down into Bite-Sized Pieces 21:32 ABCD’s of Prioritizing Tasks 25:21 Separating Work Tasks and Home Tasks Mentioned in this episode: The EOS Life: How to Live Your Ideal Entrepreneurial Life by Gino Wickman The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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Interrogation Expert to Neuro-Cognitive Intelligence (NCI) Entrepreneur | Chase Hughes x TFD 29:12

acum 8 weeks29:12

29:12

In this episode of The Financial Dad, Bridget Sicsko & Tim Smith interview Chase Hughes , a former military specialist turned successful entrepreneur. Chase shares his journey from the military to understanding human behavior, the importance of confidence in entrepreneurship, and the diverse business ventures he has pursued. He emphasizes the significance of self-awareness in leadership and offers valuable advice for aspiring entrepreneurs, highlighting the need for passion and a healthy money psychology. Talking Points: 🧠Chase's journey began with a rejection that sparked his obsession with human behavior. 🧠Understanding human behavior can lead to greater empathy and connection with others. 🧠Confidence in entrepreneurship is rooted in understanding the mammalian brain. 🧠Hearing the voices of self-doubt as fiction is a key to overcoming limiting beliefs. 🧠The market is always right; entrepreneurs must adapt to it. 🧠Prioritizing action over perfection is crucial for success. 🧠Self-awareness is essential for effective leadership and management. 🧠Passion is vital for sustaining motivation in business endeavors. 🧠Sales should be viewed as a positive exchange, not a burden. 🧠Taking care of one's physical and mental health is crucial for entrepreneurial success. 00:00 Introduction to Chase Hughes' Unique Journey 04:34 Understanding Human Behavior and Empathy 06:47 Building Confidence and Overcoming Limiting Beliefs 13:00 Transitioning from Military to Entrepreneurial Ventures 17:11 Diverse Business Endeavors and Lessons Learned 23:10 The Importance of Self-Awareness in Leadership 26:00 Advice for Aspiring Entrepreneurs 👇Learn more about Chase: https://go.nci.university/ https://www.instagram.com/chasehughesofficial/ https://www.youtube.com/@chasehughesofficial The Financial Dad™ is a podcast for creatives, freelancers and entrepreneurs to help young self-employeds figure out their finances in a world built for employees, not entrepreneurs—from quarterly taxes to W9s to retirement plans to insurance and saving— we’ve got you covered. Hosted by: Tim Smith, CFP®, Bridget Sicsko (PR Strategist) + Hally Smith (Actress) 👉 Subscribe: https://www.youtube.com/@Thefinancialdad 👀 Follow : https://www.instagram.com/thefinancialdad_/ ✍️Trusted Resources: Quickbooks Notion Riverside…

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Quarterly Estimated Taxes, The Basics | The Financial Dad 30:44

acum 8 weeks30:44