Live Call: 9/12/22
Topics Include: To profit or not to profit Marketing sales horses that are green or unfinished Raising your pricing with a business mindset not an emotional one The importance of extreme focus Analyzing each of your revenue stream as an individual business Evaluating which pieces are most profitable and going all in focusing on those Preparing for the fourth quarter and making the decision to show a profit at the end of the year How we went from no profit years to $100k profit year in 2 years Mindset hack for reaching your financial goals Strategies for investing your money and understanding how they influence your taxes for this year and years to come Defining what success looks like in your life outside of profitability Identifying if making a profit is ego driven or a tactical decision The importance of having a savings account as an emergency fund for 3-6 months Analyzing your comfortability with risk when deciding how much of a savings account t o build
Bonus Call: Building a Business Plan
Topics include: When to create a business plan Using a business plan to secure a loan or financing Elements to consider and include
Live Call: 3-7-22
Topics Include: The importance of understanding our beliefs and associations with money and having an abundance mindset What a budget is and is not The importance of budgeting your income conservatively and your expenses liberally The goal is to generate enough income to cover business and personal expenses and put money away into savings and investments Step 1 - Save 90 days worth of expenses for business and personal as an emergency fund (later goal is 6 months to 1 year) Step 2 - Pay off debt as fast as possible to alleviate yourself from the monthly payments and free up that income (student loans, car/trailer payments, credit cards, etc) Colton’s approach to budgeting: 1. Establish known expenses first (fixed and variable expenses) 2. Calculate known income (fixed income) 3. Determine if your known income is enough to cover your expenses How to use the Hay and Grain Cost Calculator How to use the Horse Training Budgeting Calculator
Live Call: 2-21-22
Topics Include: Maredith's background with budgeting and process for implementing it in business and personal life Using media kits to build credibility with brands, sponsors, and partners What to include and not include in a media kit How to begin connecting with brands on social media Marketing materials to consider investing in for in-person events and expos
Live Call: 2-14-22
Topics Include: Creating Simple and Scaleable Systems The current state of the economic market in the US Trends and patterns in the US economy and the importance of understanding them The importance of operating with an abundance mindset during fruitful and scarce periods Sound financial systems to use in all phases of business The process that Colton personally uses to manage his money The importance of asking yourself “how can I simplify this?” The components of simple systems The different types of system that make up your business Questions to ask yourself when implementing simple systems
Live Call: 2-7-22
Topics Include: The importance of knowing your numbers in every part of your business Adjusting prices to meet the current rate of inflation Ways to bring additional revenue into your business Choosing revenue streams that elevate the value of your time and moving away from dollars per hour When to raise your prices on current services Setting up lesson programs and clinics that promote consistency
Live Call: 1-14-22
Topics Include: How to determine pricing for your board and training services Defining basic financial terms and how they work within your business Basic equations for understanding how to determine your gross and net profit Leveraging your knowledge and your team of service providers and staff as added value to your boarding services How to budget and save for large operating expenses that are due all at one time Ways that we save money on our variable expenses each month
Live Call: 11-22-21
Topics Include: Building financial security through multiple revenue streams The importance of solidifying your core offer and the systems first How to diversify your income within your core offer of training services with specialized training programs Finding diversified services that compliment your core offer Finding alternative ways to utilize your facility for additional income Digital options for diversifying your income Overview of building a Video Library subscription - the programs and software CWH uses and budget-friendly ways to develop your own
Live Call: 11-15-21
Topics include: Maintaining the integrity of your diversified income Treating each source of income as an independent business and how to track it How to audit your income to ensure that you are not subsidizing areas in your business that are truly not profitable Personal examples of when Colton subsidized areas of his business that were not financially sustainable