Upcoming Event!How Can Mindfulness Give You a More Abundant Retirement?Are you ready to let go of anxiety and find the peace of mind you seek as you prepare for your golden years? Your Answer Lies in These 5 Critical Retirement Questions: Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?How do I prepare non-financially for retirement? What are the dominant variables in a happy retirement?Learn more: https://courses.mindful.money/mindful-retirement-review-workshop/Rocky Lalvani serves as Chief Profitability Officer (CPO) for business owners. He helps small business owners maximize their business’ profit so that they have time and freedom to do what they love. He does this by changing the mental accounting formula from ‘Sales minus Expenses equals Profits’ to ‘Sales minus Profits equals Expenses.’ The point is to make sure that profits come first. Today, Jonathan and Rocky discuss the Profit First method, why there aren’t more wealthy people, and the misconception small business owners have about growth.? Watch on YouTubehttps://youtu.be/Sj-2nXN-bZ4Key Takeaways00:49 – Jonathan introduces today’s guest, Rocky Lalvani, who joins the show to share how to get value for your money and other financial lessons that were critical to his success07:02 – Rocky’s first paper route to his current role as CPO13:56 – Why there aren’t more wealthy people17:29 – Statistics on small businesses19:55 – The two equations of Revenue, Profit, & Expenses24:55 – The fallacy of ‘Growth’27:26 – The Profit First system31:55 – One piece of financial advice to heed and one thing to completely ignore35:22 – The last thing Rocky changed his mind about and one thing Rocky would like others to know about him37:44 – Jonathan thanks Rocky for joining the show today and lets listeners know where to connect with himTweetable Quotes“I think the biggest lesson coming out of it all is you can live an abundant life on a pauper’s budget. I think, too often, people just overspend money and they don’t get value for it.” (05:14) (Rocky)“I can look at a set of numbers and they tell me a story. I can look at data and I can pick out the anomalies. I know how to make the buck work. In small business, understanding numbers and stretching your bucks is what makes you successful.” (11:57) (Rocky)“So there’s all these different money messages that are going into people’s heads, and if they never question them then that’s a problem.” (15:06) (Rocky)“If nobody wants what you have to sell, or they aren’t willing to pay for it, then it doesn’t matter. I think that’s a big part of it. The other thing is understanding the business-to-business, understanding how to systematize, how to build processes, how to lay stuff out and get stuff done.” (18:57) (Rocky)“Too often, I think [business owners] are focused on the wrong metrics, which is what’s the topline? The question, at the end of the day, is how much do you get to keep, how much do you get to take home, and how much is for you?” (25:57) (Rocky)“Our first step is to sit down with the business owner, and the first question is, ‘Tell me about how you grew up and learned about money.’ Because whatever those money mindsets and habits are, I need to know how they are affecting you today, what the programming is, and what your core beliefs are and...