Ep: 107 Greg Tobias

Gary Wilbers > CHARGE Podcasts > Ep: 107 Greg Tobias

Greg Tobias

Greg Tobias runs GT Business Advisory, a firm that helps small business owners ensure the financial success of their businesses and write themselves bigger paychecks.  He applies his background as a management consultant and data analytics expert to show his clients the roadmap to mastering their money.
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Show Notes:

  • Greg’s number one habit is knowing when he does his best work and taking advantage of that.
    • He wakes up at the crack of dawn everyday because it’s when his energy is flowing and ideas come to him.
  • Greg’s job is to help people understand the story that their numbers are telling them.
  • Greg’s financial advice is:
    • If you do your finances yourself, look at your net income, look at your balance of cash in your bank accounts, and look at your operating cash flow number.
      • All of these should look quite similar.
      • You can make money and run out of money at the same time.
    • Get help!
      • People go into business because they have the passion for something they want to sell or create.
        • Get someone who is passionate about numbers to help you with that side of your business.
  • The Money Mastery Road Map is about how to get your business in a more successful financial position. It considers three perspectives in time:
    • Looking backward through the rearview mirror
      • Do the 3 point inspection of your bank accounts.
      • Look at your spending.
      • Track your decisions over time.
    • Figuring out where you are now
      • You want to establish your goals and what you want to achieve.
      • Make sure that you’re compensating yourself appropriately.
      • How much is your business worth?
    • Looking forward to where you are going in the future
      • Create a budget.
      • Forecast your cash flows.
      • Package everything we have talked about into your business plan.
  • We should always be revisiting and revising our goals.
    • Greg uses the OKR rubric for goals.
      • Objective and key results.
    • You want to be able to measure numerically if you’ve passed or failed.
      • Have specific and concrete goals.
  • Check out Profit First by Mike Michalowicz.
    • He also appeared on Episode 61 of the Charge Podcast!
  • You must have a spending plan (or budget).
    • Know how much money you will have to spend and where you’ll be spending it.
    • Give every dollar a job.
  • You should have a business plan because it helps guide you.
  • Common mistakes business owners make when it comes to finances:
    • Not dealing with it. You have to fix the problem at some point.
    • Trying to do it themselves. It’s not the right use of your time as a business entrepreneur.
    • Mixing your business and personal finances.
    • Lowballing on the price when it comes to people who help you.
  • You want to track your business financials for taxes but also so that you know where your business is going and how it is going.

Greg Tobias’ Recharge Round

  1. Share with us how you believe your mindset affects your life? Mindset is critical. If his mindset is down, his ideas dry up and he feels down.
  2. What do you do daily to bring Energy into your life? It’s about timing. You have to use the most impactful hours on the highest value tasks.
  3. Share the number one connection that has made the biggest impact on your life? The connection he has with himself.
  4. What advice has Influenced you the most in your life? “If you say it enough times you’ll eventually believe it yourself.”
  5. Recommend a book and share why you love it?  The Lord of the Rings trilogy by J.R.R. Tolkien
  6. Define in one sentence or less, what legacy you want to leave on the world?  He wants to leave a legacy of love.

Contact:

gtbusinessadvisory.com

  • If you send Greg a message and set up a time to talk just mention the CHARGE podcast to receive a discount on the first element of the Money Mastery Road Map!

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