How to Keep Yourself in Line by Talking to the Financial Experts

Another interview done with James Jaramillo. This time, we are talking about finances in a business. I think that talking to James has helped me to understand how important finances are in a business, and to be financially stable and smart. Bio is in earlier reports with James.

What’s your own investment philosophy?

My investment philosophy…. I think I have just recently developed something like this, and it has taken time and experience to really understand what an investment is. I think my philosophy is that you should spend your money on something that you believe will earn you more money back in the long run, and that will also make you happy in the process.

What financial goals do you suggest I consider as I start my business?

I would say that you should set reasonable goals as your short term goals, ones that you can see yourself reaching in the next few years or so. You should also make some goals that are more long-term, ones that you can see yourself reaching in like 30 years from now. This will totally help you to stay in perspective and keep yourself accountable with where you are headed. I think if you only set huge goals without having smaller ones, you will get overwhelmed.

How do you measure financial success and is there an example of someone in your life who has achieved this success?

I measure financial success when my bills are paid, and I have some left over. That is the hard truth, I guess. But I also measure my success by continually trying to look at the goals that I have set for myself and seeing if I have reached them, and how I can extend them and do more.

What kind of financial struggles did you face at the beginning of starting your business and how did you find your way out of it?

I was playing it too safe at the beginning, and was scared to spend too much money. I learned that spending smart money can be an investment. I feel like creating a quality business will take spending some of your own money and making sacrifices. Big risk, big reward.

How do you think you could improve your business financially? What steps do you have in place to make sure you stay on track?

I have a group of people that help with the financial aspect of my business that always help me to stay within my means, and help me to spend the bigger bucks on things that we all believe will help the business and will be a good investment. I think it’s important to have people there to help with the financial aspect of things.

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