Brian Kaskavalciyan says most people aiming for $300k-$400k annually think they need a $10 million business, when $2.5-$3 million is enough. To reach top 1% earnings, you need financial discipline now: a financial advisor, monthly P&L reviews, understanding gross and net profit, and a grasp of your balance sheet.
Yeah, I ask people all the time, how much money do you want to make? Number one answer I get is somewhere between $300,000 and $400,000. But then 2 minutes before that, they told me I want a $10 million business. And I'm like, well, but wait a minute, if your goal is only to make $400,000— not only, but if your goal is to make $400,000, you don't need a $10 million business. You just need, you need a really well-run $2.5, $3 million business to make that kind of money. And then I'll ask them, well, what's the most money you've ever made? Well, $150,000. Okay, well, you want to go from $150,000 to $400,000. Why? How are you going to spend that money? What is that money going to do for you? What are you doing to prepare yourself to be a 1% income earner, top 1% income earner? Do you have a financial advisor? Do you regularly take money out of your business? Do you know what your profit, your gross margin is in your business? Do you know what your net profit is in your business? Do you get a monthly P&L? Do you understand your balance sheet? Are you acting like somebody who has a million dollars? Because if you're not, if you're not doing those things before you have the million dollars, you're never going to get it.
