In this video I'm talking about the key differences between revenue, profit, and cash.
I'll explain how a profitable business can struggle to make payroll or even go bankrupt and I also give a tip to help keep you focused on the right thing.
I also give a throwback shoutout to Episode 1 of In the Trenches with Michael King which can be found here. I talk with Ashley Altum (a CPA!) about her journey to near-bankruptcy in her business because she was focused on revenue and profitability and took her eye off cash. Check this episode out if you haven't heard it!
In this video, I talk about some of the risks that you may not know about when deciding to put off creating an LLC.
I talk about the 3 steps you need to take to protect your personal assets from your business.
And I give an amazing Beyonce metaphor that explains a mindset shift that occurs when you decide to get an LLC and treat your side hustle like a business.
Disclaimer: this video is intended for general informational purposes only and is not intended to serve as legal or accounting advice. Consult with an attorney or tax/accounting professional (like me!) if you have specific questions about your circumstances.
Skot Waldron comes from a family of entrepreneurs.
Over the course of four years, Skot started a built a branding agency in Atlanta and took it to high-six figures in revenue.
Things were going well until he found himself frustrated, unfulfilled, and hitting a financial ceiling.
He realized that his leadership style and communication style needed an overhaul before his business could reach its full potential.
Skot shares key lessons about how our internal health, as people and as organizations, impacts our external health and how well we serve our employees and our clients.
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