It’s past midnight, and Tom Krol just got off a phone call that shook him to his core. A long-time friend and fellow coach called in crisis, completely wiped out financially. The story hit so close to home that Tom immediately turned on the mic to record this urgent warning for every entrepreneur and coach who thinks “it could never happen to me.”

In this real, raw conversation about the quiet money mistakes, Tom breaks down the exact choices that led to his friend’s downfall, how to protect yourself, and the simple weekly habits that can keep your finances on track.

You’ll Learn How To:

• Spot and fix the small money leaks draining your business
• Build a simple weekly routine that keeps your finances healthy
• Work with marketing agencies without losing control or profit
• Raise grounded kids without spoiling them
• Measure net worth monthly to avoid false confidence

What You’ll Learn in This Episode:

• (01:41) The midnight call that inspired this urgent warning
• (02:53) The market doesn't care about you. It will take you to zero
• (03:13) Why entrepreneurship is 49% making money and 51% managing it
• (04:53) The truth about seasons of life and why you must plan for your “winter”
• (07:00) The 45-minute weekly money ritual that can change everything
• (07:45) How to invest for your kids and build long-term wealth through Roth IRAs
• (08:18) Why money is a game of inches and how to play it right
• (09:13) The real reason most coaches lose money with marketing agencies
• (11:56) Why you need a full-time EA and marketing hire before outsourcing
• (14:01) The trap of spoiling your kids and how it leads to financial collapse
• (17:49) Money mismanagement is death by a thousand needles
• (18:04) Why you must track net worth every month
• (19:03) How “cash flow only” thinking destroys long-term wealth
• (21:45) Your largest financial losses will be assets that you sold
• (22:52) Why ego, luck, and timing play a bigger role
• (25:01) Debit vs. credit spending
• (27:04) One rule to remember before lending money to anyone

Who This Episode Is For:

• Entrepreneurs who want to protect what they’ve built
• Coaches who want to avoid financial burnout
• Couples who are ready to get on the same financial page
• Anyone who has been relying on cash flow but ignoring their true net worth

Why You Should Listen:

This is not a feel-good episode. It is a real-world wake-up call. Tom shares painful lessons from a peer’s downfall and gives practical, doable steps you can start tonight to protect your business, family, and future.

Resources:

• Apply now for Coaching Inc.’s private mastermind at coachinginc.com
• Join us in Nashville on October 27–29 for the only room where 100 of the top coaches, consultants, and creators will be building and implementing together.