Good Karma Network Weekly Update 1/2/12



HAPPY NEW YEAR!!!

I hope everyone had as awesome of a time as I did. I partied all night and crashed around 5AM. And no hangover, to boot!

A couple of notes, first…

  1. Thanks to everyone who attended my first Edge Studio Webinar! My “Goals and Action Plans” class went off without a hitch. I want to give a shout-out to Kristin Lennox who was a great cheerleader! A very special thanks to Edge Studio Assistant Director Sara Guttman for helping me run my first webinar. My next class will be Tuesday, January 17 at 8PM and I will talk about Tracking, Billing, and Database Software. Click on the link to register.

  2. The Glenn Beck biography “Common Nonsense: Glenn Beck and the Triumph of Ignorance” is now on sale! Love him or hate him, it’s a fascinating read. Click on the link to hear a sample.

At the beginning of every year I talk about goals for 2012. As always, I have a bunch of them! I break down my goals into Dan Duckworth’s five categories: Cash Flow, Tools, Technique, Marketing, and Health. This week we’ll talk about Cash Flow.

When I say Cash Flow, I refer to money going in and and going out.

This year my goal is to increase my revenue by 10%. Sounds like a lot? Not really, considering last year I increased my revenue by 30%. I’m not bragging, I’m just putting it in context.

Remember, revenue is not an asset. If I spend it all I have nothing. If I invest it, that’s a different story. That’s why I’m doubling how much money I put away every month.

Unfortunately, my budget will increase this year, which kind of sucks because the idea is to make your budget smaller to maximize your profit. Since my income went up, so will my quarterly estimated tax payments. Also, I’m outsourcing my audio book editing this year so I will have more time to land new clients, attend networking events, etc. The newly acquired revenue should be higher then the editing costs. At least that’s the plan!

TIP OF THE WEEK: Building assets and minimizing liabilities are critical to financial success. To paraphrase Robert Kiyosaki, assets put money in your pocket. Liabilities take money out of your pocket. Know the difference!

QUOTE OF THE WEEK: Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated failures. Persistence and determination alone are omnipotent. The slogan ‘Press On’ has solved and always will solve the problems of the human race. Calvin Coolidge

STUFF!: Next week we’re going to talk about Technique goals!

From Tom Dheere’s apartment, this is Tom Dheere, GKN News…

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