Chris Miles: Information Every Business Owner Needs about Managing Money -TPS270

I have often told the story of how, in the 1980s, I had a highly successful Crystal business. In the fourth year of the business, I was grossing, in today’s money, $50,000 a month and wound up going bankrupt because I didn’t know how to manage cash flow. So, when I came across information about today’s guest, I knew I wanted to talk to him.

Chris Miles is known as the “Cash Flow Expert.”  He’s a leading authority teaching entrepreneurs & professionals how to quickly free up and create cash flow so they can spend time doing what they love most! He’s an author and host of the podcast, the Chris Miles Money Show, and has been featured in US News, CNN Money, Entrepreneur on Fire. His company, Money Ripples, has a high reputation for getting his clients fast, life-altering financial results.

Highlights:

  • When Chris was a financial advisor, giving traditional advice, he came to realize that the usual advice given doesn’t work.
  • Chris retired for the first time when he was 28.
  • Cash flow is your profit – what’s left over. It isn’t just creating multiple streams of income.
  • Whatever you ignore, leaves you – including your money.
  • Put focus and attention towards your money.
  • Chris says he is ambitiously lazy. He works hard really fast so he can play hard.
  • Three different money mindsets: The saver, the spender, and the steward.
  • Most financial advice out there comes from a saver mindset.
  • When you block flow, you block money.
  • Combining the best of the spender and saver creates a steward.
  • It’s about figuring out how to make the best use of the resources we have.
  • To get on the right track, keep track of your money using Quickbooks or other software, not a spreadsheet.
  • Numbers won’t lie to you.
  • Entrepreneurs always want to be better than where they are.
  • Focus on your successes.
  • Success is not about how much money you’re making. It’s about the mindset.
  • Money is only a magnifier of your soul.
  • The less you hurry, the faster you’ll obtain what you want.
  • Mistakes are learning opportunities.
  • We talk about financial advisors and their self-interest.
  • What can we do to create cash flow today?
  • Cash flow creates options.

Links:

Chris’s site: www.MoneyRipples.com

The Chris Miles Money Show Podcast – Find on www.MoneyRipples.com