144: Treat yourself like a Business - 7 KPI Series


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By Hector Avellaneda, Economics Discussions w/ Guests like Anthony Tran, and Fabian Calv. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Hey, you! Thanks for listening to another episode of the New Class Rising podcast!

I hope that this episode gets you on a great start to your week. I am certainly excited for the show today and the series that we are getting ready to go on over the next few weeks.

So, today marks the beginning of this series I am calling "Your 7 Wealth KPIs".

What are KPIs you ask? Oh nothing much, just the DIFFERENCE BETWEEN YOU LIVING THE LIFE YOU WANT OR NOT!

Alright, my bad! I certainly didn't mean to sounds like I was yelling at you. Think of it more as the "passionate inflection of my voice". LOL

Okay, seriously, KPIs stands for 'Key Performance Indicators' and you want to know a little secret? - The most successful companies (and I would venture to say that the most successful people) in the world all have them.

So then, why don't you?

Seriously, multi-billion dollar businesses all have KPIs that they track, and, trust me, they're not doing it for their health or because they want to give their workers something else to do.

No, no, they track their business' KPIs because they care about:

  1. Understanding what are the factors that impact their revenue and where they stand today
  2. How they performing against their stated revenue goals
  3. What they need to do to maximize revenue

So, just like a multi-billion dollar business tracks their KPIs, you have to understand what your 'personal wealth KPIs' and how you are performing within those KPIs to get you to where you want to be.

I know I know what you're thinking - "I don't entirely know where I want to be."

Well, no worries, because I do!

Now you're saying "Hold on, Hold on. You know what's best for me? I thought you were an authoritarian hating Libertarian?"

Well, you're absolutely right! Although I am not an authoritarian that loves to tell people what to do or how to manage their lives, what I do now is that if you're listening to my podcast, then at the core you are in search of one thing - Financial Freedom!

How do I know this?

Well, I know it because at the core that is what we are all searching for, including myself.

Financial Freedom is what gives us ultimately clarity of our financial situation, reduces any subconscious stressors we might have about whether or not we actually have the money to afford this or that, and it allows us to have the time freedom and eventual lifestyle freedom we seek.

That's how I know! :)

So, how are you going to benefit from understanding what are the wealth KPIs you should be tracking in your life?

  • Paint a Picture of where you are today
  • Allow you to Visually Track Progress (monthly/quarterly)
  • Measure Progress against set Quarterly Goals
  • Enforce Accountability by reporting out

I know what you're NOT thinking...

"This sounds like a lot of work!" If you are, I'm not going to tell you to get the heck out of here and stop listening to my show because this show is not for you.

Instead what I will tell you is that, Yes, this does involve some work, but lucky for you, I have already done most of the heavy lifting for you.

It's true!

I've actually been tracking my wealth KPIs for the last 2 quarter (the last 6-months) and in this time, my revolving debt has decreased by 13% and my disposable income has increased by a whopping 28%

If you're read this far into the show notes for this episode, then congratulations, you now know 2 of the 7 KPIs that you must track.

Again, I've been tracking these for the last 6 months and my stated reason is simple!

"If I can't see, at a glance, what my personal wealth snapshot looks like, how can I have the confidence to become an entrepreneur?"

Look, it's really this simple.

A lot of want lifestyle freedom. However, you can only get it when you have time freedom. And how do you get time freedom? You guessed it, financial freedom.

Understanding and tracking your wealth KPIs is all about removing the unconscious stress that you carry with you day to day, by understanding exactly what your wealth snapshot looks like at a glance, so that you can focus on starting the business and being the absolute best you can be for your customers! That's it.

The by-product of this process is you reduce debt and you increase disposable income.

What you do with that income is up to you (I'm not an authoritarian, remember) :)

But it all starts here!

I hope you join me on this series. At the end of this series, I am going to give those who want to take this a step further and ACTUALLY (passionate inflection) are serious about their financial freedom, all of my templates and a step-by-step how-to guide (maybe some video's, haven't decided yet) so that they know exactly how to fill out the template and get an instant visual their 7 personal wealth KPIs.

Thanks for reading this far and, oh yeah, please do me a favor. Share this episode with anyone you think will benefit from it and rate and review the podcast on iTunes. :)

Enjoy the Show!

Show Notes: http://NewClassRising.com/144

152 episodes