In this episode, Lloyd James Ross, a seasoned seven-figure investor and entrepreneur, shares insights into the seven most common financial mistakes made by business owners. He emphasizes the importance of separating personal and business finances, highlighting that many new entrepreneurs mistakenly treat their business income as personal income. Lloyd encourages listeners to create a contingency budget, much like contractors do, to prepare for unforeseen expenses in both business and personal finances. He aims to equip listeners with the mindset and strategies needed to take control of their finances, grow their wealth, and achieve financial freedom. Tune in to learn how to avoid these pitfalls and set yourself up for success!

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Timestamps

[00:00:00] Introduction

[00:01:03] Mixing personal and business finances.

[00:03:10] Tracking business finances effectively.

[00:06:58] Investing in business growth.

[00:09:17] Business ownership and financial planning.