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Billion Dollar Body

Nicholas Bayerle is on a mission to help you create your ultimate state of health, power, and confidence. We bring on the top experts such as Ryan Michler, Cole Hatter, Drew Canole, Peng Joon, Dan Lok, Navy Seals, and so many more. Listen every Wednesday for a new interview and every Friday for the exclusive Power Couple Episode featuring Amanda Bayerle.
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Now displaying: December, 2017
Dec 27, 2017

In today’s episode, we are jumping into our taxes with my buddy and tax advisor, The Cash Flow Doctor, Eric Nghiem. Our taxes go towards our city, state, and country, paving roads and improving our communities. However, we’d all like to save a little bit more and put it towards growing our businesses and donating to charities of our choice. Eric Nghiem gives us some simple strategies that we can apply this tax season to save and grow our money.



Timestamped Show Notes:

  • [ 8:03 ] Entrepreneurs and Taxes
  • [ 9:07 ] Bookkeeping
  • [ 12:30 ] Filing as a Business: Getting The Most Deductions
  • [ 14:32 ] Structuring your business entity: LLC, S-Corp, C-Corp
  • [ 17:44 ] Deductions
  • [ 22:41 ] Appropriate Salary and Retirement Plans
  • [ 29:14 ] Business Sales
  • [ 40:00 ] The New Tax Bill

 

Takeaways:

  • Eric highly recommends utilizing an accounting or bookkeeping system, even if it’s as simple as an excel spreadsheet, a ledger, even a basic notebook. Quickbooks and Xero are also great accounting softwares to keep your records safe, storage, and easy to navigate when it comes time for your taxes.
  • As an Entrepreneur, the first step in tackling your taxes is to make sure you have proper bookkeeping set up. This gives you a chance to also see on a daily basis where you is profits and expense.  
  • Limited liability saves your company from large liability suits, however, there is no tax benefit. S-Corp is highly recommended for most small businesses under a million dollars in revenue. Put yourself on salary with self-employment tax, but the rest of your profits will come without the self-employment tax.C-Corp is a more advanced entity, under the new tax plan it will be more beneficial than in the past.
  • Keep track of your common expenses for deductions, internet service, web hosting, personal cell phone (as long as you have a landline), vehicle expenses, mileage, meals with clients, anything that's usual, ordinary you can deduct. Make sure you leave a paper trail, use a business credit and debit cards.  



Resources:

Dec 20, 2017

Today Nicholas shares an exclusive sneak peek of a training by Jim Kwik from The Billion Dollar Brotherhood. Jim Kwik is the worlds #1 memory expert, he teaches some of the top people in the world how to learn faster, retain more information, and have better quality lives because of their memory health. Jim gives us 5 items that we can use to improve our memory and lives.

 

Timestamped show notes:

  • [ 1:23 ] Discipline = Freedom
  • [ 2:01 ] How the Human Mind Learns
  • [ 6:38 ] Focus
  • [ 8:15 ] Brain Food
  • [ 11:15 ] ANTs and Exercise
  • [13:23 ] Mirror Neurons

 

Takeaways:

  • Surround yourself with thermostats rather than thermometers. Thermometers react to the environment, they reflect the temperature of the room whereas thermostats set the temperature, they set the standard for the environment to adhere to.
  • Increase Intake of Good Brain Food: avocado, blueberries, broccoli, coconut oil, eggs, green leafy veggies, wild salmon, turmeric (lowers inflammation), walnuts, dark chocolate (good for focus and mood).
  • Kill Automatic Negative Thoughts: You are what you eat, you are what you think. Where is the gift in this? Find your dominant question or sentence. You are thinking of a question, but there is a primary question underlying.
  • Exercise: As your body moves, your brain grooves. Your body affects your mind. More physically active, the better your brain will work.
  • Supplement Brain Nutrients: Omegas, B Vitamins etc. Take supplements based on what you need.
  • Find Positive Peer Group: You are the average of the 5 people you spend time with. Not just your biological networks, it’s your social networks. Be around people that inspire, not nice but genuinely kind.
Dec 13, 2017

Today Nicholas sits down to talk with Chris Harder. Chris host’s podcast, For The Love of Money, and in today’s episode, he offers us a lot of practical and applicable things you can do to exponentially grow your income, make a bigger impact with your money and have fun while doing it.

 

Time Stamped Show Notes:

  • [ 2:30 ] Working with Your Significant Other.
  • [ 9:00 ] Learning from the People Around You.
  • [ 13:00 ] Material Things
  • [ 16:34 ] Podcast Inspiration: Money Mindset
  • [ 21:17 ] Experiencing Resistance
  • [ 28:38 ] Personal Growth
  • [ 35:09 ] Getting into Giving
  • [ 38:21 ] Daily Actionable Items

Takeaways:

  • Is it easy to work with your significant other? The number one thing you have to learn is communication. When you come home you can’t communicate in a hierarchy. You have to learn what form of communication resonates with your partner. How do you want me to react? What is the best response that I can have to this question or that? At the end of the day, you are two people in love so you may get passionate or allow yourself to be short with one another. Have patience and be open to learning with each other.
  • Your ceiling is our floor: you get to take the struggles someone else has been throw and experienced and use their mistakes as a launchpad for you to bypass the mistakes and continue growing and learning. You don’t have to lose it all, you don’t have to have a giant wake up moment. If you are willing to invest in learning and listening you can avoid a lot of mistakes yourself.
  • If it is a car or a home or a certain bag that has you waking up to hustle and kick butt, as a result of hustling you can create a revenue machine, your company. Once you get the car, the bag, the house, a few things happen. Number one, you're revenue machine is up and thriving, number two, you get what you wanted and you will usually have a moment when you realize that the thing you got is cool but it’s not as cool as you originally thought, what else is there? Then you’ll be motivated to see what else you can do with your money, you’ll want to find the ways that you're an influence and impact. The ultimate reward is making an impact.
  • Most people know what they want to be doing right now but they are not moving forward for one reason or another. Many times the thing holding them back is fear, fear of being judged, fear of failure, fear of success, fear of rejection. The key is figuring out what fear is holding you back, acknowledged it, and then list all of the possible outcomes. When you take a look at all the outcomes of doing what you want to do you will realize that the worst thing that could happen is not that bad, you make your peace and learn to live with it.
  • The world needs what you have to offer. How dare you, in order to protect yourself, not share your gifts and ability with the world. When you hold back, you’re not only selling yourself short but you're also holding back on anyone who could benefit from you.
  • One of Chris’ favorite way to get into giving is to attend a high-end philanthropic gala. Find a cause you love, go to their gala, buy a couple of tickets, they will be a little bit expensive but the money goes towards that cause. Being surrounded by philanthropists and business members around you is inspirational and it’s a great time to network, all of the doers and all the influencers are there. There is a special bond created when you giving together.   

Resources:

  • Entrepreneur Biographies: Losing My Virginity Richard Branson, Total Recall Arnold Schwarzenegger, Tesla, SpaceX, and the Quest for a Fantastic Future Elon Musk, The Sell Fredrik Eklund, Jeff Bezos
  • Chris’s Podcast: For The Love Of Money
  • Get Connected with Chris: Podcast, Mastermind, Instagram.
Dec 6, 2017

Today Nicholas talks with Connor Blakely, a Gen Z business consultant, partnering with fortune 500 business and companies like Sprint, model sports, HootSuite, speaking at events and conferences, teaching them trends that will help them communicate with the next up and coming generation. Connor drops tips on how you can communicate with each generation in the marketplace and capitalize on your wealth through trend spotting.  

 

Time Stamped Show Notes

  • [ 2:17 ] Communicating to the Generations: Youthful Branding
  • [ 6:28 ] Youth Culture.
  • [ 9:20 ] Connor’s Backstory.
  • [ 18:18 ] Generation Changes.
  • [ 28:30 ] Applicable Brand Changes.
  • [ 30:30 ] Goals vs. Vision.

                                                  

Takeaways:

  • Create a youthful brand. Youth is synonymous with: cool, fun, relevant, culturally relevant, and engaging. The culture code for sales and business in the USA is youth, being youthful is something all generations resonate with and want to attain.. When a business or brand incorporates youthful traits in their marketing or general appeal they become more relevant, interesting, and attractive to all generations.
  • There is a new “Youth Culture” that is spanning the generations. While we used to be in a top downtrend, where older generations dictated the trends of the younger generations, we’ve reversed that and are now seeing the younger generation dictate the older. From the way technology is used, to communication, politics, entertainment, fashion trends, marketing, economics. By paying attention to culture your company can use cues from pop culture to make ads that appeal to the current trends that people are following.  
  • Double down on humanization over what you would do through digital. If you would send a tweet to a follow change it up and make it more personal. Connor’s example: As a brand, you should hire high school interns, have them go through all of your brand's social media followers and send a personal note via mail, “Hey Todd, love your sunset picture, thanks for following us.” - Send in the mail. Human connection is timeless as is communication. When you can make a genuine in person connection your filling the biggest need and desire for humanity.
  • Twitter is the most powerful tool as well as Instagram video ads. You can use keywords on Twitter to reach and connect with potential leads and clients.

Resources:

If you enjoyed this podcast then make sure to get our free Testosterone boosting checklist here (www.thebilliondollarbody.com/checklist)

 

Thanks for listening,

Nicholas Bayerle


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