Following Jon Mac’s Cash Flow For Life, Chapters 1-4

cash-flow

As seen in my related vlog, I have begun to read this book and decided to take the MASSIVE ACTION of following all of its recommendations in pursuit of the success it promises.  It’s an experiment of sorts- Jon Mac describes the book as a “practical blueprint of exactly how to build a profitable business online.  The information within this book will help you quit your job, build a business and sell it down the road for 7 figures.  This book is your compass for finally reaching your goals, dreams and true life potential.  It’s the ultimate guide to freedom.”

I am putting my focus on this resource and am going to see it through.  I’ll share my takeaways from each chapter, as well as my answers to the questions and worksheets.  I’m taking his advice to heart to “Find success even in the darkest of times.  Follow through with your goals and win!”  I’m going to get this thing done!

Chapter One:  Knowing Your Potential

Takeaway:  It takes experimentation and time, but there is a ton of opportunity to make money online.

Every battle is won or lost before it is fought.  -Sun Tzu, The Art of War

Questions:

  1.  How many month’s income do you need to have saved to feel financially secure?  12 months, especially with a baby on the way!  For the sake of round numbers and a desire to have wiggle room, I’ll call this $120,000.
  2. How many years of income do you need to have saved to feel financially free?  10 years would be amazing.  That would allow for thorough research of investment opportunities, planning, travel, scaling, and some inevitable missteps.  So, $1.2 million.
  3. How many hours would you like to work each week?  20-40 hours.  If it’s work that I enjoy, 40 + is great- it doesn’t feel like work.
  4. What are 3-5 ideas for products you could sell?  Jewelry, training courses, baby supplies, shoes (Zappos link?), pet supplies

Chapter Two:  Mapping Out Success

Takeaways:  Are you doing or dreaming?  An online business with a 7 figure income is $1,000,000.  A million dollars!

-With your own store, you own your buyers list, your upsells, your applications.  You can plan and execute to win.

-Be 100% present, focused and committed to achieving your goals.  Forget “shiny object syndrome.”  This book will shorten your learning curve drastically.

-3 Phases: 1)  Foundation- set up LLC, legal and accounting team.  This is the business structure you need to build and sell a business.  2)  Launch- get traffic and sales to store.  FB ads are recommended- you will learn to create, optimize, and scale for massive profitability.  3)  Scale- outsourcing, e-mail marketing, branding, funnels, exit strategies are planned.  Make sure you are growing revenues weekly and monthly.

Questions:

  1.  How much money have you spent on training courses and materials over the past year?  What value and improvements have your experienced as a result?  I don’t know the dollar figure, but I’ve spent money on the following courses in the last year:  Tony Robbins coaching, Grace Lever coaching, Six Figure Mentors, Go Daddy website design, books, plus more I’m sure.
  2. What e-mails from marketers do you receive daily/weekly? Consider unsubscribing to focus.  This question definitely highlights my shiny-object syndrome.  I frequently follow ads on FB that promise amazing things and want to get the newsletters…but then have no idea what is of quality, what I should put my time into, what is just really excellent click bait…I looked through my Inbox for one address (and just the Inbox, not even Promotions and Social) and found the following people/companies were sending me info:  Jon Mac, Ryan Lee, Neil Patel, Grace Lever, Patti Keating, Microventures, e-come solutions, Stu McLaren, Hilary from Instagram, Michael Hyatt, Jeff Goins, Chris White, Six Figure Mentors, Tara Gentile, Jon Tarr, Jason O’Neil, T Harv Eker, Tony Robbins, Jill Stanton, Mike Omar.  Oh my!
  3. What phase is your business in?  Foundation.  BUT, that is still A business, MY business.  Just a baby business. 🙂
  4. Can you commit to and schedule 2-4 hours/day to your new business?  Yes.

Chapter 3:  Building Your Foundation

Takeaways:  These are the critical steps to laying a proper foundation for success.

  1.  Create LLC, 2)  Find bookkeeper, plan to track income and expenses weekly, 3) Find CPA, explore legal/tax strategies to maximize deductions and credits, 4)  Establish a banking relationship with a business advisor, 5)  Calculate your numbers daily, weekly, monthly, 6)  Focus on tasks that bring in revenue growth (such as FB ads), and outsource customer service, fulfillment and fan page as soon as you are able.

Questions:

1.  Do you want a business where you are involved fully in day to day operations or an asset that brings in revenue on its own?  Um.  I’ll have to think on that one…joking, on it’s own, obviously.

2.  Have you identified accountants, bookkeepers and a lawyer? I already have an accountant, I’ll look for a bookkeeper and consider a lawyer.  I just set up an LLC by going online to the Secretary of State, it cost $200 to register.

3.  Do you have $3,000-$5,000 to fund your new business? Yes.

Chapter 4:  Maximizing Your Performance

Takeaways:  You must have a healthy body and mind to have a healthy business.  Energy and endurance are crucial.  This means eating clean and maintaining emotional health.  Jon Mac recommends The Four Hour Body.

Questions:

1.  Create 2-3 goals related to diet.  I’m pregnant, so I’m already eating pretty well.  I could probably track my protein better, and make sure I take my vitamins at night (I always forget the nightly round).

2.  Create a fitness goal that you can achieve within 30 days.  I will go to the gym 4 times in the next 30 days.  That will be 3 more times than the last 30 days.

3.  How can you ensure your emotional health?   For me, this blog is helpful.  I’ve also set up an appointment with a counselor.  With everything going on with my other business as well as some family stress and the upcoming changes of adding another kiddo to the family, I decided that I could use that support.

4.  Make a plan to manage stress and minimize its impact on your business. By staying focused, improving my physical health, seeking emotional support resources, planning time with friends as well as mental breaks, I think I’ll have this covered…to the best that I can anticipate, at least!

 

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