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HPR 70 | Creating Cash Flow

Heartrepreneur® Radio | Episode 70 | Chris Miles Interview

HPR 70 | Creating Cash Flow

 

Many entrepreneurs are working hard but they realize if they stopped working, they’re in trouble because they don’t have enough money and income streams coming in. Chris Miles is an expert at creating cash flow and is the leading authority teaching entrepreneurs and professionals how to quickly free up and create cash flow. He focuses on helping people figure out how to get out of that rat race and how to stop making their business own them so that they can spend time doing what they love most. Chris says the power in business is when you choose to be in business and you don’t feel like you’re on paycheck to paycheck. You don’t feel like you own a job but you work because you love it and not because you need the money. Learn how you can achieve life altering financial results from Chris Miles

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Creating Cash Flow And Getting Out Of The Rat Race with Chris Miles

Let’s get on with our guests and I’m so excited to have this guest. He’s been with us before. He was so fantastic. I knew we needed to come back on. His name is Chris Miles. He is the cashflow expert and anti-financial adviser. Chris is the leading authority teaching entrepreneurs and professionals how to quickly free up and create cashflow, spending time doing what they love most. Chris is also an author. He’s the podcast host of The Chris Miles Money Show. He’s been featured in the US News, CNN, Money, E on Fire, and has a high reputation with his company Money Ripples for getting clients fast and getting life altering financial results. I know that’s what everybody wants. His personal clients have increased their cashflow by over $100 million in the last few years. Chris, I had to have you back. Welcome back. 

It’s a pleasure to be back.

Thank you. What’s on your mind? What do you feel would be cool to chat about?

I’ve worked with entrepreneurs for so many years and of course I’ve been one. I’ve been an entrepreneur for sixteen years myself now. I’ve seen the ups and the downs. I’ve been retired twice, all by the time I was 39. I’ve been in million dollars in debt and dug back out of it. I’ve been all over the place and so there hasn’t been anything that entrepreneurs throw at me that I hadn’t dealt with at least a financial sense. I can’t judge. The best things happened to be my last year, and this is how I got retired twice. I think the power in business is when you choose to be in business and you don’t feel like you’re paycheck to paycheck. You don’t feel like you own a job. You feel I worked because I love it, not because they need the money. There are so many entrepreneurs, so many that are working, but they realized, “If I stopped working. I’m strewed. I’m in trouble.” I focus especially lately on helping people figure out how to get out of that rat race. How to stop making your business own you and stop that like you own a job rather than owning a business and actually get out of that rat race. That you have more than enough money and income streams coming in that you work because you love it, not because you need to make money.

I love that and that’s my story. Basically, I had businesses. I had sold many of them and then I try to stay to Corporate America and then one day realized, that wasn’t what I was meant to do in twenty something years ago I walked out and now I’m doing what I love and loving what I do. What advice do you have for our listeners?

The biggest thing is how can we get any income streams coming in? They don’t require a lot of active efforts. Don’t ever think that for any reason that you can just sit back and the money rolls in and you don’t ever do anything for his. You’ve been in business like I have, you know that there’s at least management of those income streams, otherwise they’re gone. There’s nothing ever totally passive, but there are things that can be very residual things that you can manage and do with very little effort and a lot of leverage in your business. Let me start within the business before we go outside of the business so inside of the business we always want to look for things that generate those residual type of incomes. This is where you can have programs that are leveraged group programs you definitely need one. Group programs sometimes they’ll can still be a little bit active, but you might create some more leverage because you do have multiple people coming on your teaching the same stuff once. That’s always a great way to go. I would say that’s the lowest of the totem pole when it comes to the residual type students for me because it is a little bit more active, you are generating and often being live.

The next level would be, “Could we create something that’s evergreen or something that’s already prerecorded?” You call it what we’re doing we’re recording these shows and this is why I my own podcast show when I do The Chris Miles Money Show. Even though I don’t charge for that show is still something that I been put out there that people can listen to it anytime and I don’t have to be there. I can be sleeping in my bed while people are listening to it and studying it and they’re getting great value and I love that. I love when people can create value while I’m asleep. That’s a big one right there. What can we create that’s actually evergreen, so this would be like in the form of audios or videos or it could be content in whatever it might be. You might have to actively market. It’s potentially and you could definitely create some ways to leverage that where you maybe you’re not always marketing yourself. Maybe you’ve got other people like partners to help out, but that’s definitely one way to do it.

I’m glad you’re sharing what you’re sharing because it’s been on my mind a lot. I switched up my consulting practice a long time ago to primarily do things through groups. Because I found if I was talking to one client about something 25 minutes later, I was saying almost the same thing to another client, so I do some groups. There are a lot of synchronicity, a lot of synergy, and they actually get results faster. Then I think it’s critical in today’s world, in today’s economy that we have digital assets and completely are working for digital assets and that we have content that’s created and content that can go out.

Many programs that it will put out like find your divine genius and that had to be monetized our divine genius still there are people buying it. It’s good stuff. It’s not like he’s worse. They’ll just update it, add a few more reasons, a newer program and I sold that. It’s a hustle when you can have something that you can offer like, “I can deliver it.” I remember the days I had to deliver audios and DVDs and have to send mail, head to the post office. Wait in line again because it’s a Monday at the post office. Now you want it digitally and you actually would hate me if I sent you something physical and it’s cheaper.

It’s so much cheaper. It is the world where everybody wants everything instantaneously. We can make it downloadable. It allows us as a business owner to have clearly a lot more profit, a lot less time and getting a product to over to someone a much better way to deliver services and I read an interesting magazine article that said, “Most people are sitting on about $55,000 of digital assets.” In other words, content that they know that they could put out that people would buy. I thought that was fascinating.

That’s true. Last time when I teach people about cashflow from the angle that I teach normally. A lot of times I’ll say, “What can we sell off?” The last time we talked about selling off stuff or donating or get the tax off or whatever, but you probably are sitting on mental capital. It’s sitting around, it’s just extra clutter. Whether it’s in your brain or maybe it’s on the computer. Find Your Divine Genius is an idea that came because I actually had created a program years ago and everybody on this one Facebook group I was saying, “I would love to be able to figure out how to make money with my purpose and my mission and my gifts and my talents.” I said “I’ve got a program like that,” and people are like, “That would be cool.” I’m like, “Who would be interested?” A bunch of lights came on. Two days later I said, “I’m announcing a four-part webinar.” $50 per person, twenty people go, 24 hours later, $1,000 later, it was sold. I was like, “That was easy,” and then I packaged it and recorded it and sold it. I made money on it twice.

HPR 70 | Creating Cash Flow
Creating Cash Flow: There are so many ways to create leverage in your life. The biggest thing is just figuring out what’s the best way to do it in your situation.

Let me speak to that because Chris just said something brilliant. He made money twice. I always about optimize and leverage. Whenever you do something, look at how can I break this up into multiple things? For example, we take this actual podcast and it obviously sits on iTunes. We also take this podcast and it’s transcribed. We also put the audio of this podcast. We take this podcast and we create tweets from this podcast. We’re doing one thing and we’re leveraging it.

How many times can we leverage that, we can build vertically with it.

I’ve never heard of that. Let me ask you this, because they know you always want to impact the audience. What do you want them to literally take away so that they can do something to make a difference for their business?

I want you to think outside of the usual rat race box, because most are just like how we work now. How do we attract more clients and things like that and that’s so good, but there are so many other ways we can do that? For me personally, I’ve done affiliate type of relationships, people that I love and I love to refer to. I ask any business owner they love to get referrals. Love that stuff. When I mentioned that the people are like, “I’ll do it and it’s amazing,” that’s how I’ve been able to retire twice. On the second time, I don’t have all affiliate. First one was all affiliate and that it was an old, very organic type marketing was like, “Go talk to this person.” Very referral type based. Then I got smarter with it as time went on and I do other things with investments too. You can leverage your business, you can literally relationships and you can leverage your money. We talk about business relationships, like the affiliate marketing, and I’ll tell you like just by asking people. I understand referrals anyways. “Do you have an affiliate program? Do you pay a referral fee?” Ask them and it’s amazing say how people say yes.

Let’s set that in place and it’s so awesome. You get checks like that because maybe you have a dry month and your business, but then you get these affiliates make it so even and so easy for you to say, “I don’t even need the money. I’m good.” I don’t need that client and then more clients are attracted to you. Same thing, if you have money or if you have money sitting around with a curly little retirement plans or wherever might be. Had one lady that’s in her mid-50s, she went to a business coach to ramp up her business but she’s like, I want to wind down not wind up. We ended up getting her money from a divorce, got her money working for that she actually retired to Bali. She’s not even working in her business. There are so many ways to create leverage in your life. I think the biggest thing is just figuring out what’s the best way for me to do it in my situation. That’s what always is key.

I’ll just tell the listeners I’ve had the delight of meeting Chris and getting to know him over the last couple of years. I just think he is so authentic, so intelligent. He’s all about Money Ripples, which is a beautiful name. How can folks listen to your podcast? How can they get in touch with you? I want people to follow you the way that I do and to connect in with you.

You can go on iTunes or your favorite podcast app and just look up The Chris Mile Money Show. You can go through my website, MoneyRipples.com.

Chris, I’m so glad whenever you come back you give practical advice and you just open up our minds, so I appreciate you. Thank you so much for coming on to Heartrepreneur Radio.

It’s been an honor, Terri. Thank you so much.

For the audience, if you want to subscribe to the show, that way you will not miss any of our episodes. You could have missed Chris Miles and you could have missed some great information. We love when you are able to give us reviews on the show, share the show. As a thank you, GetHotPayingClients.com is my gift for you for being a listener. Thank you for tuning to Heartrepreneur Radio.

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About Chris Miles

HPR 70 | Creating Cash FlowChris Miles, the “Cash Flow Expert,” is a leading authority on how to quickly create cash flow and lasting wealth for thousands of his clients, entrepreneurs, and others internationally! He has been featured in US News, CNN Money, Bankrate.com, and has a high reputation for getting his clients life-altering financial results in his company, Money Ripples.

After working as a traditional financial advisor and stock coach for several years, Chris came to a stark realization that the financial advising industry was not showing anyone how to quickly and safely become financially prosperous today.

After leaving that industry, Chris was able to retire when he was 28, and has since worked to teach his effective, unique strategies, for companies like Freedom Fast Track and Garrett Gunderson, and now Money Ripples, while exposing the popular myths around money that have kept so many from enjoying financial freedom and peace of mind.

Chris consistently practices and teaches small business owners how to do what no other financial advisers can or will – achieve financial prosperity, now and in the future, spending time doing what they love most. 

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