In this episode of Make Business Personal, Tiffany Johnson, co-owner of Piece of Wealth Planning discusses personal financial planning, financial independence, budgeting, retirement plans, insurance protections, and investing in estate planning. She emphasizes the importance of keeping personal and business expenses separate, efficient bookkeeping, understanding cash flow, and more.
- The range of personal financial planning content covered in The Accelerator program 1:00
- The top three things entrepreneurs need to know about financial planning when running their business 2:50
- One action you want all listeners to take right now in their entrepreneurial journey 5:48
- One bonus business tip about succeeding in entrepreneurship. 11:24
Quotes
- "Make sure you keep personal expenses completely separate from business expenses." 3:30
- “Bookkeeping and tax planning are the things you need to make sure that you're doing to run your business efficiently to then be able to take income from your business.” 3:17
- “Make sure you're working with a certified public accountant so you want to make sure that they're a CPA. If you're looking for a financial planner, make sure you're looking for a certified financial planner… and understand how these people paid.” 8:24
- “The biggest thing I would tell any business owner is hire out sooner than you think you need to for those types of things because at the end of the day, if you're constantly working in your business and not working on your business, you will never be able to grow and scale the way you really want to. So the earlier you can hire somebody, the better it would be to allow them to come in.” 12:30
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