Could your business be ruining you financially? That is a scary question to think about.
My guest today is Brandon Green, a serial entrepreneur who has had to consider this question himself. As the co-founder of Alchemy of Money, a financial services coaching subscription for real estate entrepreneurs, Brandon helps subscribers understand their finances. His experiences as an entrepreneur have taught him how to balance investing in himself and his businesses and he shares his strategies with other real estate entrepreneurs.
On this episode of Solopreneur Money, Brandon teaches us how to recognize key areas that could be holding you back from achieving financial freedom.
You will want to hear this episode if you are interested in…
- Brandon’s story [1:22]
- What Brandon learned from starting his business [9:20]
- Why Brandon started Alchemy of Money [14:10]
- Reinvesting too much back into your business [18:23]
- Why you need to get on the same page with your partner [24:20]
- Not letting ego get in the way of a bigger goal [26:40]
- How to advance your net worth [29:22]
- The money questions [31:55]
Brandon learned entrepreneurship without a college degree
Brandon grew up in small-town America, but his life was transformed when he chose to join a traveling dance group: Up With People. This decision opened up his world and provided him with enriching cultural experiences.
After his time with Up With People, he moved to the East Coast, but rather than attending college the way he planned, he learned sales on his own. It turned out that Brandon was an excellent salesperson. His success allowed him to buy real estate and become a real estate professional. A short while later and he had built a growing sales team with the vision to become the number one residential brokerage in his region. While his road to success wasn’t always easy, he learned many lessons along the way.
Why Brandon started Alchemy of Money
Brandon started Alchemy of Money to provide financial services to real estate entrepreneurs. Many real estate professionals are great at what they do but struggle with the financial aspect of managing their businesses.
Many people feel alone when learning how to handle their finances. Alchemy of Money offers a range of financial services along with coaching so that the mystical area of finance can become demystified. The Alchemy of Money helps entrepreneurs contextualize finance and gives members a greater understanding of the financial side of their business. This leads them to enjoy true financial independence.
Ways your business could be ruining you financially
- You may be reinvesting too much into your business. Many business owners may pay themselves a small salary, but then roll the rest of their profits back into their businesses. However, doing this without a plan isn’t the best idea. Consider the outcome you would like to achieve. Would it be better if you invest the money instead? Should you give more to yourself? Is there an opportunity to expand your opportunities elsewhere? Consider your goals and then evaluate the best choice for your profits.
- Are you on the same page financially with your partner? It is important to have clear communication to articulate your goals with your partner. Doing things differently or seeking separate goals could prevent you from embarking on new opportunities and could even move you in the wrong direction financially.
- Making decisions based on your ego could lead to negative financial consequences. This problem could take many forms: you may not want to give up a title, a task, or a duty. However, your ego could be getting in the way of your larger goals and preventing you from growing. While you have to believe in yourself to succeed, you have to balance your confidence with your ego.
- Making money, saving money, and investing money are three different skill sets. To advance your net worth you have to have skills in all three areas and know when and how to deploy each of those mindsets.
Listen in to hear Brandon’s fantastic advice on improving your business and your finances. This was a fantastic conversation with loads of tips. Don’t miss it–press play now.
Resources & People Mentioned
Connect with Brandon Green
Connect With Gabe Nelson
- BOOK – The Solopreneur’s Money Manifesto by Gabe Nelson
- FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/
- EMAIL: Gabe (at) GabeNelsonFinancial.com
- Follow Gabe on LinkedIn
- Follow Gabe on Twitter: @GabeNelsonCFP
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