63: The four crucial things to know for financial success with Michael King

The four things to know for financial success with Michael King<br /> <br />This episode is all about the one thing that overwhelms us all—money and finances. Michael King takes the scary out of accounting and translates the most important things business owners and entrepreneurs should know when it comes to their finances. He shares the four most important things, how they relate to each other, and offers guidance and advice on how to pivot your business towards success.<br /> <br />Listen to this episode to hear how you can have success, grow your business, thrive, and confront your finance anxieties. Hear what you might be focusing on that you shouldn’t be, and what you need to know if you want to be forward thinking in your business.<br /> <br />Listen now<br /> <br />Helping people understand finances<br /> <br />We open this episode with Michael explaining the one thing every entrepreneur should know—how 80% of small businesses in the US fail in the first five years because they make poor financial decisions and because they don’t know foundational concepts. He shares how he realized that most of this failure could be avoided if there was a bridge in communication between CPAs and accountants with businesses, and how this led to building his own business to address this need.<br /> <br />Getting really clear on finances—and fulfillment<br /> <br />Michael shares the four most important things every entrepreneur should know when it comes to finances and shares the mistakes he sees small businesses make the most. He emphasizes the importance of finding a bookkeeper—and how it can change everything.<br /> <br />We dig into the extensive knowledge Michael has in this field, but how that didn’t necessarily make him good at building his business. He shares the realization that made him fire all of his clients and start from ground zero, and how he had to get very clear on what was making him unhappy in order to recognize what would make him truly fulfilled—and how to do that for yourself.<br /> <br />Michael King