Topic Introduction

Opening

How Did Ray Edwards Go Bankrupt?

How I Went Brankrupt

The Question Nobody Asks

Impulse Buys

Steve Stewart

Profit First

Who Is This For

Where Do You Start

Isn't This Just Accounting?

How Many Domains Does Dave Have?

Envelopes and Buckets

You NEED to Pay Attention

Getting Paid

Common Mistakes

Money Saving Tips

Steve's Cheat Sheet

Where To Cut Expenses

Affiliate Program Woes

What Event Should I Go To?

S-Corp vs LLC

Dave Forged His Own Profit First Path

Steve's Thoughts on Dave's Plan

The Pressure of a Deadline

Home FInance Resources

One Size Does Not Fit All

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Money, money, money! Yeah, I know, we’re all rolling our eyes thinking, "Ugh, not another boring finance chat!" But hold onto your wallets, because this isn’t your grandpa’s finance talk. Our buddy Ray Edwards, a top-notch copywriter, shares a jaw-dropping story about how he made a cool million but ended up in bankruptcy—wait, what? How does that happen? I spill the beans on my own bankruptcy saga, sharing how emotional decisions can lead us down a slippery slope. And hey, we’re not just here to mope; we’ve got Steve Stewart from the Podcast Editors Academy joining us to sprinkle in some wisdom about putting profit first. Buckle up, because we’re throwing in some sarcastic humor while we unravel the absurdity of our financial choices!Takeaways:<ul><li> Ignoring your finances is like playing with fire while blindfolded—eventually, you'll get burned. </li><li> Being bankrupt after making millions is the ultimate plot twist—stay alert or face the absurdity! </li><li> Don't let emotions rule your financial decisions; logic over feelings keeps the money in your pocket. </li><li> Track every penny if you want to keep your business afloat; otherwise, expect to sink! </li></ul> Companies mentioned in this episode:<ul><li> <a href="https://geni.us/ray-edwards" target="_blank">Ray Edwards </a></li><li> <a href="https://www.stevestewart.me" target="_blank">Steve Stewart </a></li><li> <a href="https://www.podcasteditoracdemy.com/sop" target="_blank">Podcast Editor Academy</a> (get the free download)</li><li> <a href="https://geni.us/profitfirst-book" target="_blank">Profit First book</a></li><li> <a href="https://supportthisshow.com/novo" target="_blank">Novo</a> (get $40 off once qualified) </li><li> <a href="https://relayfi.com/" target="_blank">Relay</a> </li><li> <a href="https://www.waveapps.com/" target="_blank">Wave Apps</a> </li><li> <a href="https://supportthisshow.com/acorns" target="_blank">Acorns</a> </li><li> <a href="https://supportthisshow.com/sofi" target="_blank">Sofi</a> </li><li> <a href="https://www.firemark.com" target="_blank">Gordon Firemark</a> </li><li> <a href="https://www.askralph.com" target="_blank">Ralph Estepp </a></li><li><a href="https://supportthisshow.com/cronometer" target="_blank">Cronometer Fitness Tracker</a></li><li> <a href="https://community.schoolofpodcasting.com" target="_blank">School of Podcasting</a> </li></ul> Mentioned in this episode:Question of the Month Jne 2025We hear how great Spotify is, but is it? Let's find out. Go into your media host and see what percentage of your total downloads came from Spotify. We don't need the number of downloads, just the percentage. I need your answer by 6/27/25. Don't forget to tell us a little bit about your show, and your website address.<a href="https://school-of-podcasting.captivate.fm/qotm">Question of the Month</a>Check Out Dave's Newsletter With Behind the Scenes ContentIn each issue of Podcasting Observations, I share my thoughts on what is happening in the podcasting space, my latest content, and things that have caught my eye. I also may ask for your opinion. Join the free community<a href="https://school-of-podcasting.captivate.fm/podcasting-observations">Podcasting Observations</a>Worry Free PodcastingAre you ready to take your podcasting dreams to the next level? Look no further than the School of Podcasting. With over 19 years of experience, I’ve helped countless individuals plan, launch, grow, and monetize their podcasts the right way. My comprehensive...

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