With all of the economic uncertainty going on right now, I have focused the last several episodes on money and finances in business. I continue to get questions surrounding this topic so I’m diving deeper into it in this episode. A lot of you have been asking what I personally have been doing with my money in my business, so in this quick tip episode of Art of Online Business, I’m sharing a behind-the-scenes look at my business and how I view my business expenses. My view has evolved over the last several years. At first, I spent freely. If I wanted something, I got it. After a while though, I really started to be conscious of my money, and I realized that my profit margins were much lower than I expected. That’s when I started to change my mindset around my business. We’re here to make an impact, and we can’t make an impact if our business isn’t making any money. I am now much more strategic and intentional about my business expenses and look at it all from an ROI perspective and not just a financial one. In this episode, you’ll learn:

• How I used to manage my money in the early years of my business
• When I realized that my profit margins were low
• The way my bookkeeper helped me change my mindset
• The 2 different categories that I put my expenses into
• Why I prefer to see them as investments instead of expenses
• How I evaluate ROIs on the business expenses
• The way I look at profit margins for my offers

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Full show notes available at www.rickmulready.com/631