Adam Kroener is an award-winning 8-figure CEO, co-founder of Carbliss, which has sold 2M+ cases since its founding in 2019. He is a Startup Advisor and Veteran of the US Army.

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Adam’s Instagram – Follow Adam on Instagram.

3 Value Bombs

1) Many people get scared of making a lot more than the interest they were paying because we’re training ourselves with the fear of the interest rather than the opportunity of the game.

2) If we as a nation are starting to understand that what we are told consistently is not best for ourselves, we have to dig deeper into that from a financial perspective and just learn how to think for ourselves, maximize and multiply each dollar rather than focus on focusing on what we’re losing.

3) You’re not paying taxes on any loan. It’s basically a tax free income and if you’re able to maximize that and bring it back within a year, you’re not paying any tax and you’re lessening the interest rate that you would have paid.

Sponsors

HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!

Ziprecruiter: Let ZipRecruiter help you conquer the biggest hiring challenge: finding qualified candidates. Just go to this exclusive web address right now to try ZipRecruiter for free! ZipRecruiter.com/fire.

Thrivetime Show: Is this your year?! Visit ThrivetimeShow.com to see testimonials of how Clay Clark’s business coaching has helped over 2,000 entrepreneurs to dramatically increase profitability! Then, schedule your free consultation!

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How To Master the Financial Fundamentals

[1:16] – Adam shares something that he believes about becoming successful that most people disagree with.

• You need to keep your mortgage, understand and manage your finances and learn to leverage that additional cash or debt to focus on creating either your own business or getting you personally to financial freedom

[2:10] – What are financial fundamentals?

• You need to understand your personal finances. Once you understand where everything’s going and what’s coming in, you need to be ruthlessly accountable in what you promise yourself you’re going to do.
• Take the additional cash that you have or start taking out debt and you can learn to leverage that debt to grow yourself and or your business.

[2:46] – What majority of people struggling financially doing wrong?

• People are paying attention to the media and wants things really quick.
• Focus on where you’re spending the money. Know how much value a spend was providing for your life.
• Understand your profit and loss and know the value of the money you’re putting out and what that’s going to come back in revenue.

[4:12] – The first of the three areas of your finances that you prioritize to navigate that rapid growth.

• The first part is just really understanding your finance. There is a challenge with having credit cards nowadays where we just swipe it and it goes away.
• Review and understand where the money went out to, where the money’s coming in from. Build a machine where we know which levers to pull?

[5:45] – Adam shares the story on how they came up with their business.

• The cases are carb-less, ready to drink cocktail in a can.
• If you imagine a vodka lemonade, vodka cranberry Margarita, generally those are very flavorful. They’re also loaded with sugar, carbohydrates, and calories. They’ve taken all those same exact flavor profiles and made it 0 carb, 0 sugar, 100 calories, and 5% ABB.

[7:14] – The second area of your finances that you prioritize to navigate rapid growth into your business.

• Be ruthlessly accountable.
• Go through line item by line item and understand where you underspent and overspent.
• Underspend isn’t necessarily always good. Sometimes it is you’re saving money, but sometimes you’re underspending because your focus went away from somewhere that it should have been. And overspend can also be a good thing if it turned into a higher revenue.

[9:00] – Maximizing your risk to rewards.

• Reinvest the money that you’d use to pay off your mortgage into something that will earn bigger than your interest rates.

[11:00] – A timeout to thank our sponsors!

• HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
• Ziprecruiter: Let ZipRecruiter help you conquer the biggest hiring challenge: finding qualified candidates. Just go to this exclusive web address right now to try ZipRecruiter for free! ZipRecruiter.com/fire.
• Thrivetime Show: Is this your year?! Visit ThrivetimeShow.com to see testimonials of how Clay Clark’s business coaching has helped over 2,000 entrepreneurs to dramatically increase profitability! Then, schedule your free consultation!

[14:16] – Leveraging capital and also debt to maximize the cash that you have.

• When you’re growing very fast, it is hard to get any cash into the business because the cash is immediately outlaid into either for us, it’s inventory and building the team.
• Most people get stuck in “I can’t do anything extra because I don’t have any extra money” and they spend so much time trying to make an extra 3% – 5% on their paycheck. But after all the taxes, you’re not getting too much further.
• Many people get scared of making a lot more than the interest they were paying because we’re training ourselves with the fear of the interest rather than the opportunity of the game.

[17:29] – Never pay off that mortgage. Learn to love debt.

• You’re not paying taxes on any loan. It’s basically a tax free income and if you’re able to maximize that and bring it back within a year, you’re not paying any tax and you’re lessening the interest rate that you would have paid.

[19:05] – Adam’s key take away and call to action.

• If we as a nation are starting to understand that what we are told consistently is not best for ourselves, we have to dig deeper into that from a financial perspective and just learn how to think for ourselves, maximize and multiply each dollar rather than focus on focusing on what we’re losing.
• Adam’s Instagram – Follow Adam on Instagram.

[21:23] – Thank you to our Sponsors!

• HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
• Thrivetime Show: Is this your year?! Visit ThrivetimeShow.com to see testimonials of how Clay Clark’s business coaching has helped over 2,000 entrepreneurs to dramatically increase profitability! Then, schedule your free consultation!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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