Episode 104: Aligning Your Business to Drive Your Wealth Goals, with Wendy Brookhouse
In Episode 104 of The Business Habitat podcast, Sam is joined all the way from Canada by Wendy Brookhouse, Founder and CEO of Black Star Wealth. Sam and Wendy are united in their passion for knowing your numbers and catch up today to discuss the interconnection between business and wealth, and the obstacles that often stand in the way of growing both.
Having created Black Star Wealth over 16 years ago, Wendy is on a mission to change lives by improving people’s money consciousness and emboldening them with an holistic approach to numbers and growing wealth. In this conversation, Wendy breaks down the elements of a financial plan and looks beyond just investing, by delving into spending habits, insurance plans, debt reduction and more.
Wendy shares the viewpoint that no matter how great an investment plan is, it cannot outweigh a spending problem, which is often the downfall of many individuals and businesses. Sam and Wendy consider the debate of whether we should we manage our own investments, and look at the benefits of employing a professional. In doing so, Sam and Wendy also explore the fears and limiting beliefs that drive us around money and ask the question – how much is enough?
Linking back to Sam’s mission for BlueprintHQ, this conversation explores the philosophy of planning your work around your life and considers what success looks like if the P&L is a lagging indicator of what’s gone before. This podcast is essential listening for anyone seeking to grow a business on their own terms, and set themselves up to ensure they reap the rewards.
Listen to an excerpt
What we cover in this episode
An investment plan is only 25% of a financial plan
Reframing the planning piece
The benefit of working with a finance professional
Limiting beliefs and the problem with comparison
Effort based vs results based economy
Leaks in the bucket - unconscious spending
Setting your power number
Quotes
“There’s a tonne of people ready to tell me what to do, but I really wanted someone to show me how as well” - Wendy
“It’s how we live with our everyday fears of money that actually is where our struggle sits, it’s not actually will we end up with enough or not, because sometimes we can’t actually control that” - Sam
“It’s very, very difficult to have your investments out-earn a spending problem” - Wendy
“I find it fascinating that sometimes people don’t always look at their business as a funding vehicle for their life.“ - Wendy
“The entire world, more and more, is being set up, to suck money out of our wallets when we’re not looking” - Wendy
“It’s a little bit about being in tune with yourself, about knowing, do you want to ease into slowing down from work, do you want to have a hard stop, do you never want to stop. You’ve got to know yourself and start avoiding whatever society expects of you or says that you should do.“ - Wendy
Links mentioned
Take the quiz Will you be a wealthy entrepreneur?
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