Welcome to another weekly market awareness broadcast with Loral and the Integrated Wealth Systems team. We have a couple of special guests that are going to be joining us. Today we are going to be talking about your last chance of building out your financial infrastructure to guarantee your success in 2021. With us today we have Adam Kipnes and Eileen Galbraith.
In this episode, Adam shares about marketing strategy and what you need to think about as you put that into place. Then Thomas talks about marketing tech and digital infrastructure. Lastly, Eileen shares about funding and utilizing capital to grow your business.“What you all need to have when it comes to your cash machine is a simple dashboard set up so you can easily determine what is working and what needs help.” -Thomas Holland Click To Tweet
- [00:56] Today we are going to be talking about your last chance of building out your financial infrastructure to guarantee your success in 2021.
- [01:34] Typically once we get out of January the momentum towards commitments and action plans fall by the wayside.
- [03:08] The first step in your marketing strategy is to create your story. What is it that you want to achieve in 2021? Get really specific.
- [04:04] The second step once you know what you want to do, is to understand your strengths. What are you good at? That is what you want to focus on.
- [05:06] The third step is to supplement your weaknesses.
- [06:45] Instead of goals set expectations for yourself. Think about what you expect of yourself and raise those expectations by having a plan and story.
- [07:28] The fourth step is to raise your expectations and believe in yourself.
- [07:35] Step five is to optimize your environment. Put yourself in the best position to meet your expectations.
- [10:36] Market all the time. Everyday should be marketing.
- [11:48] Make a plan to review people who are doing what you want to do. Watch, study, and model what they are doing.
- [13:07] Once you have the strategy in place, the next step is to make sure your marketing and digital infrastructure are built out to help facilitate that.
- [15:01] What you all need to have when it comes to your cash machine is a simple dashboard set up so you can easily determine what is working and what needs help.
- [17:11] Once the core cash machine is built then you build out the marketing elements. You actually build it all out in reverse.
- [19:10] It all starts with getting the money. Reverse engineering the revenue you want to want to project coming in.
- [20:03] You want to make sure your entity is set up properly. You don’t want to commingle funds between business and personal.
- [20:18] Underwriting guidelines dictate that the day you open up your business checking account is the day your business is actually started.
- [20:38] There are three different ways you can get access to capital: cash, credit, or collateral.
- [21:37] Optimizing your personal credit in order to get business credit is the priority.
- [22:45] You need to know where you are and where you want to get to.
- [23:26] The way that your business is set up will make a difference when it comes to getting the capital for your business.