Build Your Business: From Fear to Freedom

Core values serve as guiding principles that help individuals and organizations make decisions aligned with their highest ideals. They are incredibly important, and should not be posted on the wall and forgotten, but known by all and followed by all. Core values must be reflected in the company culture, hiring process, and leadership. Why Core Values Matter:Core values define the highest ideals for yourself to act. They serve as guidelines for goals, actions, and other decisions. These will drive actions. They will provide a standard to guide hard decisions. Core values should align with who you are and what you believe in. Don’t create core values that you can’t live up to. These need to be reflected in your company culture. They cannot be posted on the wall but known by no one. You cannot ignore them. If someone is exposed to your business, will they say that your core values are reflected in their interaction with your company. How to Identify Your Core ValuesEven if you do not know your core values, you have them. Identify attributes that you find attractive or motivational (or, find features that bother you). You might also think about your legacy and how you want to be seen. If you have someone who can speak honestly to you, you could see how they see you now. You might think about things you regularly do or need to do and post them up quickly on a wall. Start to group these activities. You can begin to see values that you follow. Once identified, you should prioritize them. Once you have your core values identified and prioritized, you can begin to develop your GAMEplan, which will move you from where you or your company are now to where you want to go.  PS - JOIN A BUSINESS OF COACHING WORKSHOP & WIN A FREE MACBOOK AIR: https://bit.ly/3D6aVV7See how much you could be making at https://turnkey.coach/5xCheck out our Coaching Kickstarter eBook to accelerate your coaching careerIf you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/Matt's LinksWebsite: https://ryanmattreynolds.com/Instagram: https://www.instagram.com/reynoldsstrong/?hl=enChris's Links:LinkedIn: https://www.linkedin.com/in/chrismreynolds/

Be a person of action and officially start your business today with these easy steps: File articles of organizationObtain an EINOpen a business bank accountStarting a Business: 3 Steps to Do TodayMatt and Chris Reynolds discuss the essential steps to starting a business, emphasizing the importance of taking action and not just acquiring knowledge. They outline the three primary steps to officially start a business: Filing articles of organizationObtaining an EINOpening a business bank accountThe conversation also covers the significance of choosing a business name, managing finances, and the tax advantages of being a business owner. The hosts encourage listeners to take immediate action and set goals for their business in the new year.Be a person of action, open your business today! PS - JOIN A BUSINESS OF COACHING WORKSHOP & WIN A FREE MACBOOK AIR: https://bit.ly/3D6aVV7See how much you could be making at https://turnkey.coach/5xCheck out our Coaching Kickstarter eBook to accelerate your coaching careerIf you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/Matt's LinksWebsite: https://ryanmattreynolds.com/Instagram: https://www.instagram.com/reynoldsstrong/?hl=enChris's Links:LinkedIn: https://www.linkedin.com/in/chrismreynolds/

Starting a business feels risky, overwhelming, and downright scary—but it doesn’t have to be. In this episode of the *Build Your Business Podcast*, brothers Matt and Chris Reynolds draw on nearly 40 years of combined experience to reveal how they went from fear to freedom in their entrepreneurial journeys. Discover practical steps to balance your day job while building your dream business. Learn why "safe" jobs aren’t as secure as they seem, how to assess real risk, and the secret to setting yourself up for success—even before you quit your 9-to-5. Hear Matt’s story of turning a passion for lifting into a thriving gym business and Chris’s transition from a secure tech career to building software companies from scratch. Packed with personal stories, actionable advice, and inspiration, this episode is your roadmap to overcoming fear and taking control of your future. If you’ve ever wondered, “Is it worth it to start my own business?”—this episode will give you the confidence to make the leap.  PS - JOIN A BUSINESS OF COACHING WORKSHOP & WIN A FREE MACBOOK AIR: https://bit.ly/3D6aVV7See how much you could be making at https://turnkey.coach/5xCheck out our Coaching Kickstarter eBook to accelerate your coaching careerIf you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/Matt's LinksWebsite: https://ryanmattreynolds.com/Instagram: https://www.instagram.com/reynoldsstrong/?hl=enChris's Links:LinkedIn: https://www.linkedin.com/in/chrismreynolds/

You are responsible for the financial health of your business, so you must have a good handle on your business's finances. This includes understanding basic business metrics that matters, using leading indicators, and ensuring a profitable business. We walk you through mastering financial management for business owners. Have a Good Handle on Your Business's Finances You must understand, in real time, where money is going in and out of your business. You cannot delegate this to someone else (and early on, you cannot afford to have someone else manage this any way).What is your top line revenue? What is your net profit, gross profit, etc. Matt discusses these business metrics that mattered here.If you do not understand what is going on in your business financially, you will get surprised.The metrics you assess need to be leading indicators, not lagging indicators. For example, Matt used an accountant for Barbell  Logic that would give the financial numbers for the previous month two weeks after the end of the month. This is too late to course correct.Mastering Financial Management for Business Owners: Profit FirstMatt and Chris love the approach outlined in the book Profit First, which helps you better understand your business's finance and helps you ensure your business creates profit.You organize the money in your account, either using a bank account that lets you create sub-accounts or using something like YNAB where you can assign purposes to the money.You must assign money to profit. Start with 1%. The point is it helps you build the habit of assigning money to profit. You need to increase this percentage over time.You can end up paying yourself the profit or strategically reinvesting it into the business.The other areas to assign money toward include:RevenuePayrollOperating ExpensesTaxes (don't let this one surprise you)How to Get Your Business LeanA key action in mastering financial management for business owners is getting lean.You almost certainly want to increase your revenue, but this takes time, usually comes with cost, and takes time.The fastest way to get profitable, the MED way, is to cut costs, specifically in operating expenses (as opposed to cost of goods or payroll).You have to keep your business from burning cash and keep it there.Negotiate costs for subscriptions. Most of the time you can email a business that you plan to cancel something, and they will offer you a discount.If you have not been using a service, you also can often cancel it effectively some time in the past.Using 1099 contractors can help reduce costs as well.You have to master financial management of your business. It may be hard, but it is crucial and worth the time and effort. PS - JOIN A BUSINESS OF COACHING WORKSHOP & WIN A FREE MACBOOK AIR: https://bit.ly/3D6aVV7See how much you could be making at https://turnkey.coach/5xCheck out our Coaching Kickstarter eBook to accelerate your coaching careerIf you're interested in improving your coaching practice and making 5x your current dollar-per-hour earnings, go to https://turnkey.coach/coaching-rediscovered/Matt's LinksWebsite: https://ryanmattreynolds.com/Instagram: https://www.instagram.com/reynoldsstrong/?hl=enChris's Links:LinkedIn: https://www.linkedin.com/in/chrismreynolds/