))
#71: Money Management & Wealth Building for Entrepreneurs and business owners
Manage episode 346259964 series 3151562
Content provided by Simone Mercer-Huggins. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Simone Mercer-Huggins or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
I came on as a guest in a friends business mastermind to chat about money management and wealth building for business owners and entrepreneurs - and I've added some sections of my chat with them here for you to listen in on.
Here are a few top line takeaways:
1. Know your four numbers around your business... that's:
Knowing your sales, revenue, profit and income numbers.
2. Split your business and personal income accounts.
You are not your business... so it's important to split your money and treat your life and your business seperately.
3. Have other wealth vehicles and ensure you're investing.
So many entrepreneurs spend a lot of time and money on their business. Time spent growing their own business, and money investing back in to the business. I often see business owners then spending less time and money on other wealth building vehicles... like creating an investment portfolio. Banking on that one business succeeding is only ONE income stream, and may not be a future asset that pays you money, unless you're working in it.
The goal? Always to have assets that pay you money without taking up your time. Which is why Investing Bootcamp exists - to show you how to manage money and create an investment portfolio that builds you wealth in your sleep.
Find out more about Investing Bootcamp here: www.investingbabe.com
xo
Simone
94 episodes
Share
