How To Manage Money As An Entrepreneur (The Simple Way)<a href="" target="_blank" rel="noopener">Source</a>

In this video, Vick Strizheus (AskVick) shows you a life-changing blueprint on how to manage your money as an entrepreneur.

When you manage your money like this, you’ll never be the same again as an entrepreneur. Enjoy this episode and don’t forget to subscribe, like, and comment below 😉

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In this video we’re talking about how to Manage your money this stuff right here As an entrepreneur and what i’m about to Show you are strategies they don’t teach In school or college but it can change Your life Forever let’s go [Music] Hey guys welcome back to the channel Welcome back to another video my name is Vic happy that you’re here with me uh if You are brand new to this channel please Consider subscribing over here would Love to have you be part of this Community here this is a brand new Channel and our goal is to hit 10 000 Subs And i would love to have you be part of This inner circle and while you’re at it Smash that like button if you like what I’m about to show you and share with you It’s going to help out with the Algorithm and we can reach more people With this message And Help them out as well okay so with that Said let’s talk about this stuff right Here let’s talk about money i want to Talk to you about something very very Very important would you say that money Is important part of your life right People say well money is not important Why are you kidding me it’s like saying Oxygen is not important right come on

What are you talking about Money is important it’s important in the Area where it matters right it’s not Important in areas where it don’t matter But it’s nothing can replace it in the Areas that where it matters most okay And there is a reason why i have You know a little bit of this stuff Right here next to me is because Um i want to make a point to you i want To talk about how do we get more of it Okay the only way for you to get more of This is for you to understand the Principle of management proper Management and there is a vast Difference there is like a night and day Difference between How poor people manage their money over Here there’s masses of them over here That’s why they’re poor they’re broke They’re constantly chasing this thing Right versus how rich people manage Their money completely differently Okay they handle this stuff and Unfortunately we are not being taught These strategies and these principles in School college doesn’t teach us nobody’s Gonna teach us okay we have to learn This through trial and error maybe have Some mentor show up in our life and Teach us and transform our life so you Know i learned this uh for myself and i Tell you this i’ve been on this side of The fence right here where i know what

It’s like to not have any money you know If you uh have been watching any of my Other videos here on this channel Um i started out did not have a dollar 19 cents to my name i know what it’s Like to be on welfare i know what it’s Like to uh have food stamps you know i Know what it’s like to go and shop at Thrift stores and hand me down you know Kind of a consignment markets and that Kind of stuff it sucks I was not happy people said my money is Not going to make you happy i tell you Maybe it’s not going to make you happy But it’s going to you know allow you to Buy a jet ski and you don’t see an Unhappy person on the jet ski does that Make sense i also what i know what it’s Like to be on the other side of the Fence Where you have a lot of this stuff Coming to you And You’re good right you’re confident you Have options you have you know that that That invisible You know Peace that you know that you’re going to Be okay your family is going to be okay And that’s what i want to talk to you About here in this video i want to talk About how do you get it Okay and then what do you do with it how Do you manage it properly so that it can

Grow so we’re gonna go from like this Much to This much And then this much does that make sense I’ll give you a big secret money is Attracted to people that understand Proper management unfortunately people That are broke they don’t manage it well And when they mismanage it money tends To run away from it From those people These guys over here they understand the Principle of management what i draw About share with you in this video and Money is being attracted to these guys Okay so we want to be in this category Here wouldn’t you so let’s talk about it First i want to talk to you about how Broke people manage their money and i Want to i want to you know kind of put Up a frame For our conversation here um and i want To talk to you as a as a you know fellow Entrepreneur does that make sense so i’m You know i assume that maybe you are Running a business or maybe you’re Thinking about running a business Whether it’s online business offline Business any kind of a business if You’re an entrepreneurial right uh this Conversation will be interesting for us So Let’s talk about how broke people manage Their money i know this because i was

Them okay so they got a check coming to Them okay they made a commission or they You know they made a hundred bucks or a Thousand bucks whatever that check goes Into their Bank account Okay they have a bank account And There’s a couple mistakes that these Guys again remember we’re talking about Poor people right now okay there’s a Couple mistakes right off the bat that These guys are making okay they have the Money come into their bank account That’s a personal account And They are Not using this money when they’re coming In they’re not Being Sent to any entity okay so in other Words they’re they’re being paid on a Personal level okay not through an Entity or anything like that so which is A big big big mistake i have another Video on the channel where i talk about The seven steps to you know building a Million dollar business you might want To check that out And i talk about the importance of Having a in an entity and having right Bank accounts So you can check that video out later so That’s a big big big mistake and now

What happens here is when the check hits Their bank account because this is just A single account they have right they’ve Got All of these expenses so they’ve got Kids they got family they got markers to Buy to school they got school supplies They got shoes they got clothes to buy They got food to put on a table they got A business to run maybe employees maybe Rent maybe mortgage car payment Insurance payment you know Employee payment uh marketing Advertisement budgets and when the money Is just like you know you just They don’t even know what’s happening It’s it’s such a mess over here from That bank account it’s virtually Impossible to track very very very very Few people Really have some kind of tracking Technology in place And so what happens is because of this They tend to find themselves having more Month left at the end of the money does That make sense let me ask you a Question has that ever happened to you Personally Okay If you’re smiling probably yes I know it happened to me as well and That’s why i wanted to talk to you about This because this situation sucks It’s frustrating you wanna you know

That’s why so many people special Entrepreneurs are bending their head Against the wall metaphorically speaking You know because they don’t have enough And you know they might be making 10 000 Or maybe even 20 000 a month but if they Have this situation they don’t know Where it all goes and then at the end of The month they’re broke And oh my goodness at the end of the Year they got a tax bill because Who i mean who allocates for taxes right If you’re in this situation so what Happens they get hit with a tax bill and They’re like oh my gosh How am i going to pay this bill okay It’s a downward spiral and it sucks You do not want to do this model and Unfortunately most of the people most of The entrepreneurs majority of the people Are in this Cycle right here so we’re not going to Do that that’s broke people’s model okay I want to show you a different model That changed my life when i discovered It years ago It brought order into my life And You know i polished it out for myself For my family for my business and it Completely gave me a new perspective it Gave me like it it changed everything For me changed my life like when i say That this is what what i’d like to share

With you here can literally change your Life if you actually implement it for Yourself It can literally change your life it can Be the million dollar idea for you but Even more than that Because we’re gonna talk about how do You not only Get it how do you manage it but how do You get your money to work for you there Is here’s what rich people understand Okay rich people understand There’s two types of income there is an Active income And there’s passive income right Now watch Active income what do you suppose that Is active income is your job right it’s Your work It’s your business this is your Day-to-day this is your operation you Have to be there to make your active Income right if you’re working at a job Um you know for an employer That’s your active income you have to be There to have your active income okay Now what is passive income well passive Income is when you have money coming to You regardless if you work for it or not Does that make sense and so passive Income equals this thing we call freedom Okay Now watch Why do people go and become

Entrepreneurs why do people build Businesses is that because they are so Inspired to work 100 hours a week heck No right People have this perception that way Listen if i have a business Right if i start my online business or You know if i become an entrepreneur i Can one day have this thing called Freedom right And what is freedom have you ever Identified what is freedom for you okay Watch we’re going somewhere with this All right this is going to be good Lesson here i hope you’re taking notes My friend here is what freedom is you Can only achieve freedom you will never Have freedom from your active income Okay you will have freedom when you have Enough passive income To cover Your lifestyle expenses whatever your Lifestyle you desire your desired dream Lifestyle when you have enough passive Income come in To pay for your dream lifestyle Whether you work or not That is what we call freedom so Everybody wants to be here okay now how Do you get there is what i want to talk To you and there is a strategy there is A you know there is a A way there is a principle that you can Follow that can help you get there much

Faster than anything else i know how do I know this Because remember i was the guy that was In this You know clan over here how broke people Didn’t have a dollar 19 to my name was Frustrated constantly more month at the End of the money okay You don’t know where it’s all going and You’re frustrated it’s It’s it it sucks it’s nightmare And then you have order and you control It and you manage it and money loves it And then you have more money and more Money and more money shows up and you Have this Freedom feeling right like you you’re Good like if you want to take a vacation Great if you want to buy you know a Certain car you can’t like if you want To go and i eat out in nice restaurants You can so and you don’t have to worry About not having enough And everything is covered and your taxes Are paid for and you know you have money Uh funding your passive income Investments that kind of stuff so how do We do that well first we start with We’re gonna have obviously Nobody starts with immediately with Passive income unless you like inherited A bunch of money but most of us don’t Have that so for most of us what we need To do is we’re going to start with

Active income that’s going to fuel our Passive income right and then our Passive income is going to fuel our Freedom lifestyle so how do we start i Want to share with you a formula For starters we’re going to talk about That formula and remember We want this stuff to grow we want this Stuff to be attracted to us we want to Be a magnet to this stuff now money is Neither good or bad right it’s neither It’s just a thing It allows us Gives us options right if you’re a good Person it’s going to give you more Options to do more good in the in the World if you’re a bad person it’ll give You more options to do more bad things In the world well hopefully we don’t Have any bad people watching this video Right so you’re going to be a good Person i’m a good person so two good People talking here let’s get into this I want to share with you a formula here Like i said it changed my life Okay and It will probably change your life the Formula Is called the rt Wcgo Okay Rtwcgo Let me explain this to you You know

Um sometimes when you hear people you Know teach you money management and you Know they make it so complicated they’re Like oh you got to identify what’s your Necessities versus your wants versus Your like All kind like it to me it’s like What’s this give me simple i like simple Right um and so i want to share with you A formula that i have used in my life Personally i’m not talking to you from Theory i’m not talking to you from like Something i read in the book this is Literally how i manage my money i’m Gonna give you a ten thousand foot Overview And then we might do a sequel on this Video if you want let me know in the Comments uh we can talk more about this Okay so here is how Here’s the formula that Um of money management that allowed me To go from being frustrated and never Having enough Didn’t matter how much i made a thousand A month ten thousand a month twenty Thousand remember making seventy Thousand dollars in a month And not having enough i’m like what is Going on where does the money go It’s like Blows my mind right has that ever Happened to you And then i changed i found this i

Perfected it here is how it is We’re going to have instead of one bank Account What we’re going to have is we’re going To operate from an entity as an Entrepreneur we always operate from an Entity never ever ever ever ever ever Under any circumstances are we going to Operate under our own name unless it’s Incorporated okay Very important why is that important tax Benefits legal protections and a whole Slew of other Really really cool things that trust me You want okay for you so again i don’t Have the time to go into that structure Talk to your accountant but you always Want to have Your business running as an entity Separate from your name okay Then what you’re going to do is you’re Going to go to your bank And you’re going to open up instead of One account you’re going to open up Six okay six different bank accounts We’re going to have this first account Is account r that’s literally how i name It okay you can maybe massage it to your Liking but here’s how i see how i name It r for receiving Okay this is your receiving account All right so 100 Of all the money that goes into that Account and we’re going to talk about

Multiple sources of income of course Okay instead of having one stream of Income we’re going to have multiple We’re going to have money coming your Way from multiple directions we’re going To talk more about that a little bit Later on Any money that you have coming to you is Going to go into your receiving account Okay now stay with me it’s going to get Juicy All right we’re gonna have additional Accounts here and then we’re gonna Allocate our money accordingly okay here Is the formula that i follow okay Depending where you live you might have A little bit of a different you know Percentage points or whatever but i Don’t want to tell you exactly what to Do i want to give you a framework does That make sense the most important thing With this model is a habit i don’t care If you’re making a dollar Run this on a dollar okay if you have a Hundred bucks coming to you run this on A hundred bucks a thousand ten thousand Or a million Trust me it’s a habit if you get into if You form a habit of doing this you will Completely change your life and that’s a Promise and i know that’s a bold Statement so here are other accounts What do you suppose t stands for Well i’ll tell you this

Pretty much any country you live in as Soon as you start getting some money There’s this guy They call him uncle sam He is hungry He likes to eat good right So he’s gotta have his own part so he’s Gonna have some money coming his way and If you don’t pay him he’s gonna get Angry you don’t want to piss a guy that Guy trust me okay i know i had to deal With some of them guys they ain’t no fun So this is going to be our tax account Okay tax account we have to have a Separate tax account separate dedicated Allocated tax account okay this is to Feed our uncle sam because we don’t want To end up in jail do we right and we Don’t want to sabotage our business we Don’t want to do anything we’re not Supposed to do and we want to be like Good we want to sleep at night like a Baby Okay Unless the baby doesn’t sleep so that Well but you get the point Knowing that our taxes are covered and Here’s what i would suggest okay again Depending where you live 30 30 will go into our tax account okay Make sense I’m about to give you an example here uh And we’re gonna do some case studies Real you know real life case studies in

Just a second uh so we’re gonna have our Taxes taken care of what do you suppose W stands for okay what do you suppose That is it’s your wealth account my Friend okay if you’re gonna pay uncle Sam 30 You better pay yourself before you do Anything else very very important Why because we want our money to grow Don’t we if you want your money to grow Only if you want your money to grow we Need to make sure that we have a Wealth building plan Okay In action That is active and working for us Otherwise you will never ever ever get To the point where we have this thing Called passive income and ultimately Freedom does that make sense remember The only way to you to have freedom is To have enough of this in passive income That can fund your lifestyle your Desired lifestyle so you can have the Freedom so how to do that is we’re gonna Fund it through this account called Wealth Notice i didn’t i didn’t call it savings Account i didn’t call it emergency fund I didn’t call it rainy day fund it’s Literally wealth how you name things Matters right I am Focused on building wealth

I’m not focused on emergency On rainy days because whatever you focus On guess what you’re probably gonna have It right so instead of calling it Savings account which is scarcity Mindset i’m going to call it wealth Account and here’s what i’m going to do With it I’m going to put at least 10 percent at Least 10 into your wealth account i’m Going to give you a breakdown just a Second here And then what do you suppose c account c Stands for okay so these are separate Accounts okay account c Is very very important Okay this is our charity account Charity account okay let me make it Proper for you charity okay this is our Charity account this is the money that We’re going to give away and we’re going To give 10 Into that account okay very important Why is chair oh vic what are you talking About giving money away that’s exactly What i’m talking about yes we’re going To give away some money we’re going to Give we’re going to give away money We’re going to give away to church we’re Going to give away to your favorite Charities your foundations we’re going To give away to people that need our Help okay i’m saying less fortunate

With an intention of being uh generous Does that make sense so charity is very Very important my friend here is how i’m Gonna explain i’m not gonna try to sell You on like giving away a portion of Your income but i can tell you this There is a law that’s literally like A universal law that governs your Prosperity so i think of your charity Account as your prosperity pipeline does That make sense People that are stingy if their hand is Closed there’s nothing can get into you Into a closed hand right But even dog understands this an open Hand Does that make sense So i’m just going to say to you like This See law of gravity we call it the law of Gravity right if i let this go it’s Going to come down if i jump i’m coming Down watch it doesn’t matter if i’m a Good person or bad person Right if i step on a tall building and i Jump It doesn’t matter if i’m good or bad it Doesn’t even matter if i’m a baby it Doesn’t matter if i can think I might be an infant If i step from a tall building i’m Coming down and the consequences could Be tragic That my sense the law of gravity

Doesn’t Favor anybody Just like This stuff right here i’m just going to Tell you from my personal life Experience I was that guy was like that’s my money Why should i give it to other people why Should i give away 10 i’m just going to Give 20 bucks or 10 bucks or five bucks Or two dollars yeah i got you know i Gave away two bucks who cares And i promise you when i started to Apply this in my life especially as an Entrepreneur my friend It’s like your prosperity pipeline It just flows to you i’m telling you Don’t ask me how that works it just Works and i know that most of these Wealthy people over here remember poor People wealthy people they think Differently they approach money Completely differently okay this is Energy this is not you know people kill For this people commit suicide for this People kill other people for this it’s Just paper this is paper you know maybe You have a credit card in your in your Wallet what is money money is an idea What is an idea it’s energy So when you tapping into the invisible You you’re dealing with energy you’re Dealing with the universal laws that Govern success prosperity and everything

So you might as well Collaborate with that law okay don’t get Under the bad side of that law just Saying okay so what we’re going to do is We’re going to give away 10 to charities All right g is for our general Okay this is your home account this is Your household this is the account that You’re going to buy t-shirt with you Right you’re going to put Food on a table you’re going to pay for Your kids education if you’re not if Your kids are in private schools or Whatever you’re gonna buy your car with You’re gonna you know your everyday Household stuff right you’re gonna pay Your bills with that’s your general Account and i’m gonna put 20 here Okay And then uh oh is your operating Operations account so this is your Business operations account Operations Okay this is your business operations Account i’m going to put 30 there Okay so we got 30 50 60 70 100 so you get it so 100 of the money Coming into the receiving account and as Soon as it hits Let’s do a let’s do a case study here Okay Okay so let’s say i have A thousand dollars

Okay let’s say i have a thousand dollars That i have generated that i’ve earned Okay that i’ve created as an Entrepreneur That a thousand dollars does not go into My general or operations or welfare it Goes into my account r i literally have Account r at the bank and i know that’s My receiving account right All of the money whether it’s one Check or 10 checks or 10 000 checks doesn’t matter every Single dollar that i make As income Goes into account r okay 100 From there and you can do this Automatically You can do this um manually every week Or every month however you want to how However often you want to distribute This money and then you’re going to Basically distribute according to the Percentages okay so let’s do Uh the math here so in our example 30 we Got 300 goes to tax right 10 Which is a hundred dollars correct goes Into our wealth account Charity right 100 bucks so now we are Contributing our money to different Departments here 200 bucks Okay and then we got 300 this is our Business operations this is right here Is where you know it’s like your seed

Money for your company right this is Where you spend money on growing your Company okay advertisements uh this is The uh Your operations for your business if you Have rent employees likes you know bills Computers Business expenses anything like i want To buy this market is for the business Guess what account is coming is coming Out of okay it’s going to come out from This account that makes sense So Anything business related anything and Everything business related it’s going To come out from this account why is it Important well All of this if it’s business related Stuff it’s right off okay you can write It off from your taxes does that make Sense general this is the money that’s Like after tax and you don’t have to Worry about Later having to pay taxes on it because You have already pre-accounted for taxes There is plenty of money coming into to Cover the taxes right that makes sense Charity Talk to your accountant but typically Charity is You know if it’s contribution to a to an Actual charitable foundation you could Be it can be a write-off as well but Again talk to your accountant talk to

Whoever do your taxes tell them that Right so we are pre-configuring that Here as well wealth because we have These categories here okay this is like After tax so this is like net money that We can start to save up and start to Build our wealth nestec portfolio which I’m about to get to next here in just a Second okay and then the biggest thing Is you will sleep at night Knowing that you have uncle sam The angry guy right you have him taken Care of he wants at least 30 so we’re Going to give them to them so maybe you Live in a state where it’s like you got To pay 40 of your taxes well You know you just come up with whatever Number is going to be comfortable for You but because This is basically deductions over here Or like write-offs you know this could Be write-offs potentially right um so You know It it’s gonna it’s gonna balance each Other out so to where at the end of the Year i you know hopefully don’t have to Pay any taxes okay Now watch If you made a thousand dollars with this Model Typically okay How broke people are doing it is they Just put a thousand bugs here And they just do that

And then before the month is even over They don’t even know where it went and They don’t even they can barely survive On a month to my places okay and then at The end at the end of the day they’re Frustrated they’re always frustrated It’s downward spiral there it’s Nightmare With this model it’s a lot more Structure it’s discipline okay now watch When you have this and you made a Thousand bucks okay How much of that can you really spend On eating out going to the restaurant You know having fun going on vacation What do you suppose you have to play With Okay well that’s this amount right here So with this model right when you if you Made a thousand bucks You don’t have a thousand bucks you have Two hundred dollars for your household Lifestyle stuff To take care of your you know your life Right you say big that’s not anywhere Near enough of course it’s not enough Okay so what we need to do and what i’m About to talk to you next is You never there’s a couple ways for you To uh to balance this out okay to to Sustain your lifestyle um What i teach is i teach people to never I say this you will never ever save your Way to wealth will never ever happen you

Will never clip out coupons and expect To get rich one day it will never happen It’s mindset okay so what we need to do Is we need to know okay what kind of Lifestyle do you want and then we need To have our income our top line this Number right here this is the most Important number not this not this not This this is the most important number That we need to worry about okay and we Need to be very strategic about so what We need to do is we need to raise that Number So that it’s enough to cover our Desired lifestyle so Let’s just do Add another zero to it so instead of A thousand let’s say we go for ten Thousand dollars well we just add a zero Okay watch what happens Okay when we add a zero to it Okay See what happens So now we have two thousand dollars Let’s say this is per month now we got Two thousand dollars per month That we’re dealing with for our Lifestyle we got three thousand dollars For the business expenses so now we can Do one of two things Maybe temporarily you can lower your Lifestyle while working on increasing That number but ideally what you want to Have is you want to

Multiply you want to increase this top Line number right here this is the only Thing you should be worried about and The only thing you should be concerned About and kind of thinking about is how Do i get more Money coming into my account r that’s it This is the secret okay make sense so With this let’s just hypothetically say That you know you’re getting 10 000 Every month okay All right what happens is we got three Thousand dollars a month Okay That’s tax money we got that covered now We’ve got a thousand dollars per month In our savings account now here is what I’m going to do with my savings account Okay i’m going to be strategic there In savings account or in my wealth Account i’m going to have this I’m going to have a category for my Emergency fund Okay So However whatever the amount is to Sustain your lifestyle you want to have About three to six months Of savings uh worth of that much okay And so let’s just call it your emergency Fund let’s say You know things go south right The world turns upside down and your Income stops you want to have enough

Money coming in okay to sustain you for The next three to six months until you Can figure out how to pivot make sense So that’s your emergency okay once you Have that saved up listen you don’t need To continue to saving for your Emergencies okay and that’s it that’s The only that’s the only category i’m Going to have is going to be within my Wealth Account i’m just going to dedicate okay This much i’m going to keep there for Like emergencies and then anything above That Look it’s going to be my investments Okay maybe real estate Okay maybe gold Silver Right maybe crypto Okay do you know anybody that like They’re like selling their homes To buy crypto because somebody said that This coin might go up and people are Putting their life savings on the line Okay not being very smart in my opinion Why we don’t know what’s gonna happen See what i’m saying we don’t know if Crypto is going to be the future maybe It will maybe it won’t nobody knows Okay It might be wise for you to diversify Your wealth portfolio wouldn’t it maybe Some stocks some options some real Estate okay gold silver probably going

To be the store of value for you know if History is any indicator for the last Five thousand years that make sense and Now you’ve got your wealth portfolio Right here okay so watch what happens is That you know if you stay disciplined to This model right here you know you wake Up one day and you look at your wealth Account and you’ve got a hundred Thousand dollars sitting there you’re Like oh i can now put a down payment i Can now buy some real estate i can now Invest some of this money and now See what happens is this is your active Income right here And now Over you know it’s not going to happen Overnight but over time you’ll get to The point To where you’ll be like whoo Now i’ve got my money producing more Monies okay i’ve got this benjamin right Here making babies for me all right so Making more benjamins you want that to Happen this is called passive income and Your passive income okay this right here My friend Passive does that make sense by the way Let me know in the comments i know this Is a little longer video here but i i Don’t want it to be You know i i don’t just want to take up Your time i really want to make sure That i deliver value to you and

And and talk to you about things that Can really move the needle for you in Your life because i tell you this Changed my life And i want to serve you with this okay So if you like this make sure that you Hit that like button and let me know in The comments if this makes sense okay Because it’s important most people don’t Understand this This is where see where we’re getting to Your passive income what is passive Income passive income equals freedom Watch You work really hard on your business Okay you have money coming in coming in Coming in coming in coming in now boom Maybe you got some investments maybe you Got some real estate maybe you got some Other investments or you know all these Things combined your portfolio and now You’re getting the return now your money Is making you more money and now You have Enough money combining your passive Income to fund your lifestyle and now This becomes more like a hobby for you You know what’s going to happen You will have Confidence Like you cannot imagine You will have self-esteem like you Cannot imagine 99 of your problems in your life will

Disappear you know why Because if you can write a check for Your problem your problem does not exist You have other problems right people say I got money problems broke people say I’ve got money problems no you don’t Have money problems you don’t have any Money right Not having the money is your problem Rich people might have some money Problems because they got money okay we Can talk more about that in other videos But hopefully this makes sense right so Watch now you are good without uncle sam With this model you are good for your Future this is your future this is your Freedom building right here You are good with The god’s formation of the universal Principle that governs Prosperity right that pipeline you’re Being generous you actually are Contributing to the You know to the humanity you’re Contributing And and you’re giving you know another Thing i want to talk to you i’m going to Dedicate for just a second here listen Whatever you want to get more of you Want to give away All right let me prove it to you how do You get more energy In your life you ever thought of that How do you get more energy

Do you suppose you get more energy by Eating donuts you know and potatoes and Hamburgers and just sitting on a couch All day long do you think you’ll have More energy doing that yeah you won’t You have more energy when you get Yourself out and go out for a jog every Single day right get yourself in the gym And you put away energy and then you get More energy don’t you right how do you Get more love in your life do you just Like all right i’m expecting to get more Love in my life no you don’t How you get more love is you give away Whatever you want to get more of you Give love first and then you get more Love right how do you get more friends You be friendly and then we have more Friends how do you get more money You give money and then you get more Money that makes sense it’s an it’s God’s ecosystem don’t ask me why that is I didn’t create this universe but that’s How it is and that’s how it seems to Work and it works like clockwork for me And for people that i know that are rich Okay so it might be worthwhile for you To check it out as well so now i’m good With that department right i’m good with My family here and i’m good with my Business so now all of my important Areas of my life are covered Now here is the question that we need to Really tackle uh tackle right and that

Is this How do you let’s say I’m gonna give you another formula here Okay Let’s say that Your lifestyle requires Let’s say that you have a lifestyle that Requires Okay Ten thousand dollars a month Hypothetically speaking okay let’s do This hopefully this makes sense i’m Gonna raise these numbers and then i’m Gonna give you another way to reverse Engineer your numbers and figure out how Much top-line revenue you need To focus on it okay so let’s say that Your lifestyle which is your general Account right here based on this formula Okay i never ever change this formula i Adjust My production to make sure i can fit the Numbers in that i need so for example How do i figure out what do i need for My top line to sustain my ten thousand Dollar Okay my general my household my Lifestyle requires me to have ten Thousand dollars per month That’s pretty average lifestyle that’s Pretty good right especially considering That all it’s not going to tap into all These other areas Like wealth and say you know and uh tax

And all these other things that’s like Net for my family that’s pretty good Right so here’s what you do You take this thing called calculator Right let’s do the math so If 10 percent If 20 is gonna go here and that’s ten Thousand dollars i’m going to take ten Thousand dollars Divided by .20 right divided by point to zero so That means that i need to have fifty Thousand dollars To go into my receiving account Every single month for me to sustain my Lifestyle of ten thousand right if i got Fifty thousand dollars here you know Thirty percent I’m gonna have fifteen thousand Does that make sense fifteen thousand There I’m gonna have five thousand dollars Every single month going to my wealth Account i’m gonna have five thousand Imagine imagine how Good will you feel when you like Hey every single month you can actually Give away five thousand dollars right to Charities that matter to you To to to causes and maybe your church What is that gonna do to you Internally for your self-worth for your Self-esteem you’re not just taking up Space you are you’re not just a parasite

In the world you are a producer right You’re helping somebody you are Supporting You know worthy causes and stuff like That it’s gonna make you feel amazing About you what do you think That will do in terms of your Ability to generate more income when you Feel good about yourself That’s going to Give you a boost tremendous boost And confidence when you are out there in The market trying to build your business Because your business is simply a Reflection of you because you are the Driver of your business that makes sense See how this whole stuff is connected Okay so moving down the list here watch Right what do we got We’re going to have 15 000 For your business okay do you see what i Just did here so now the question is is This Vic how Do i get to that number How do i build my business How and now we’re going to talk more About strategies okay but as far as Money management as an entrepreneur my Friend This is the formula to follow when you Follow this formula you will be good you Will be set you will have Confidence you will have

Confidence Right you will have This this feeling of Freedom and control Okay you will feel amazing knowing that All the important areas of your life are Covered make sense are we good on Managing money part okay This is the best advice you will find on Money management and this is simple Anybody can do it so that’s right you Have six bank accounts This account Every single you know it’s up to you Whether it’s every single week or every Single month It should not have any money there all These money should be distributed down According to your channel okay So are these personal accounts or these Business accounts well this will for Sure be a business account because every Single dollar you’re gonna earn it Should be made out to your business Okay make sense Tax it can be a business account that’s Fine can be a business account wealth it Can be a business or a personal account It doesn’t matter because this is your Wealth building okay charity it should Be a business account because if you Contribute through a business talk to Your account and talk to your lawyer Whoever’s doing your taxes but you know

In most cases you can deduct that amount Which also helps you with The uncle sam part right General this is typically going to be Your personal account because this is Your personal money right and then your Operations is definitely your business Account because any expenses here People will be like well i need to learn A skill right i need to Um you know i need to go to this event Or need to buy this product to learn a Skill which account do you suppose That’s going to come out of Okay if you want to if you’re growing Your business and you want to skill up Okay Can i give you another tip I want to Has it been long enough it’s been a long Video i don’t know if If you’re still watching let me know in The comments if you’re still watching Because i don’t want people to get bored With this kind of stuff right i want to Serve you i want to give you like as Much as i can in in the most condensed Amount of time this took me over 30 000 Hours to figure these things out that I’m sharing on this channel and then you Know i shared with you so look look if You’re building your business there’s The triangle okay If you want to get whatever that is okay

There’s three things it’s going to be Your mindset Okay is very very important how you Think critical Second thing your skill set Okay and what do you suppose the other Angle is It’s your tool set Okay This is the triangle that can get you Any amount you want in here okay If a 2 000 a month person If you talk to them about getting to 50 000 a month they’ll never do it because Their mindset is not there so what they Need is they need to work on themselves You ever heard this term personal Development right your income will never Out You know you’ll never out earn your self Image so Self image what you think is possible For you Okay where is that how do you expand Your self image well we’re going to talk More about this in upcoming videos here On the channel self-image should be As a result of who you’re mixing with so If you are in business whatever your Line of business is right as an Entrepreneur I suggest that you get around other People go to events conferences Masterminds invest in your own personal

Development that will help you expand Your self-image or mindset Of what’s possible for you okay Next pillar is your skill set okay you Want to learn if you’re building a Business you want to you wanna grow that Right there Okay what do you need i need some skills I need to understand how do i market how Do i build a business whatever business You’re building is you you need these Skill sets if you don’t need if you Don’t understand And don’t have the proper skill set You will you can be the most positive Person on earth but if you don’t possess And cultivate specific skill sets as it Relates to your industry to your line of Work what you’re doing That’s good but you’re missing a Component so you’re not going to have What you want that makes sense so skill Sets is like I’m going to invest in the course i’m Going to learn right i’m going to i’m Going to learn how to do marketing so That what do you suppose that is going To come out of It’s part of your business growth isn’t It See what i’m saying because these things Can come out from here what do you Suppose that is it’s an investment in Your business it’s a business expense

Who is the most important person in your Business well it’s you isn’t it without You there is no business So when you invest in you to grow your Business that stuff comes out out of Your operations account Okay And that is typically a deduction that’s Typically a write-off for your taxes Does that make sense so it’s a win-win Okay now what do you suppose tool set is Same thing it’s a business expense this Is your Tools that you’re using your business Your autoresponders right your Listing subscriptions if you’re real Estate right Your leads that you buy your advertising You know that you know funnels and that Kind of stuff does that make sense So my friend hopefully This topic Starts to make a little bit more sense To you and i hope That this message serves you today okay I hope that you Really understand what i’m trying to to Deliver here to you um Let me know if you want me to do a Sequel on it because i just gave you a 10 000 foot view if we have plenty of People or enough people requesting a Sequel on this kind of thing I will do a sequel and i will tell you

How i manage my general right here as a Household because there is a formula There Okay that we can go and expand into Where you can allocate Your instead of budget i don’t do budget Stuff i do bucket i do this kind of Stuff for my household expenses as well And there is a category for fun that’s Right so this way you can have a Category literally labeled fun And you can go and just blow that money On fun things and never ever feel guilty About it if you want to go to the store And buy yourself like A louis vuitton pair of flip-flops that Cost 700 bucks Okay You will now you will never feel guilty For it because you have allocated that Money you have you have a category for That type of stuff Okay so you can have fancy things in Life and you can have the life that you Truly dream about my friend this is your Right and i think this is your Obligation your responsibility to figure This stuff out okay as you figure this Stuff out right here The better you get here the more money You will get you will earn there okay so I don’t have a lot of time to you know Obviously talk a lot about Other things

Um The stuff that i’m sharing on this Channel ask vic this is a brand new Channel that i’ve created I’ve been in this game for over i put in Well over 30 000 hours At least 30 000 hours of like actual in The trenches as an entrepreneur i’m not Talking about sleeping or eating or Anything i’m like in the zone in the Trenches at least 30 000 hours up to This point And i’m in the trenches still i’m Running a company i’m running two Companies and i’d like to serve you this Channel is for you obviously i can’t Cover everything in one single video but I will be putting out more videos like This on different topics we’re gonna Talk about How do you Make money okay how do you what are the Strategies what’s the mindset what are The tools you know tool sets and how do You Grow how do you make your money we just Talked about formula for managing it Okay and how to multiply it later on but There’s gonna be a lot more videos Coming so make sure that you’re Subscribed subscribe to this channel um Hit that like button so that we can Spread this message to more people Uh and last but not least

Please share this message with somebody That you think Will benefit from it would you i would Really appreciate it we’re trying to Share this message to as many people as Possible and with your help we can help More people out there in the world Uh design the life that they truly Deserve and want so with that said Appreciate you have an amazing day or Night wherever you are in the world and I will see you in the next video coming Up [Music]

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