Michael KingFounder at The CFO Accelerator

Connect PERSONAL goals to BUSINESS goals (Fractional CFO)

Name: Connect PERSONAL goals to BUSINESS goals (Fractional CFO)
Uploaded: 2023-04-30T14:02:18+00:00
Duration: 38 s
Channel: Michael King
Description: Short YouTube coaching segment (Fractional CFO GPT) advising business owners to connect personal goals to business goals by converting personal…

30 Apr 2023 · 1 min

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Short YouTube coaching segment (Fractional CFO GPT) advising business owners to connect personal goals to business goals by converting personal objectives into monetary targets. The speaker outlines a two-step approach: (1) elicit personal goals (coach the client to define them), and (2) assign dollar amounts to those goals so the business can be structured (e.g., set take-home pay to fit 20-hour workweeks or earn enough in six months to take six months off).

Chapters

So first step, personal goals. Second step. Now this is where you're going to have to come in and do some help. Personal goals is on them, and you can kind of coach them and coax them and those kind of things. Number two, put a dollar amount on those goals. I will argue with very rare exception, any personal goal they come up with, you can tie a dollar amount to it. I want to work no more than 20 hours a week. How much money do you need to take home per month? Between W2 and distributions in your business, we got to fit all that into 20 hours. I want to be able to take six months a year off to travel. How much do you need to make in the other six months? There's normally some kind of a dollar amount that you can tie to those goals.