Gene’s first year in business brings in solid work and decent profits, but his lack of financial planning catches up with him. When he files his taxes for the first time as a business owner, he’s hit with a $17,000 bill he can’t afford to pay. With no savings set aside, he’s forced into a long-term IRS payment plan with added penalties and interest. What started as a promising business quickly turns into a stressful financial burden, leaving Gene questioning if it’s all worth it.

That’s exactly why I created the Business Building Toolbox and offer coaching and consulting. If you’d like to learn more about the Savings Transfer Tool, join us for the Savings Transfer Tool Introduction on April 15th at 10:30 AM (CT).

When you attend, you’ll be entered into a drawing for one of two prizes:

• One for a customized Savings Transfer Tool implementation ($997 value)
• One for a full year subscription to the Business Building Toolbox ($297 value)

And if you want a quick snapshot of where your business stands today, take the 5-Minute Financial Health Review.

A broken truck. A $3,800 repair. No cash to cover it.

Gene’s story shows how quickly one unexpected expense can throw your entire business and home life into chaos when there’s no financial cushion in place.

Irregular income is one of the biggest struggles for self-employed construction business owners. Add in a customer who doesn’t pay on time, and things can get even more stressful.

In this podcast, we follow Gene, a contractor who finishes a project only to run into a payment disagreement with his customer. What should’ve been a straightforward final payment turns into a negotiation that leaves him short on money he was counting on.

Poor communication and lack of financial systems can cost you. So what can you do to prevent it?