Key Takeaways:
Chapters:
Timestamp Summary
[0:00:37] Introduction and discussion about Thanksgiving leftovers
[0:01:21] Importance of exit planning for business owners
[0:02:44] Agitation and discomfort necessary for growth and profitability
[0:03:28] Importance of thinking long term and planning for retirement
[0:05:14] Planning for the future and implementing changes now
[0:05:57] Owner dependence and the need to rely less on the business
[0:07:17] Contingency planning and having a team in place
[0:08:30] Determining who will take over the business and having a written plan
[0:09:16] Importance of due diligence when selling the business
[0:10:38] Focusing on profitability and creating a positive workplace culture
[0:12:03] Importance of having the right team and advisors in place
[0:12:24] Building a new mindset culture in business
[0:13:28] Getting a fresh perspective from a CPA
[0:14:05] Objectively evaluating business performance and financial objectives
[0:14:25] Contact information for getting a second opinion on business finances
[0:14:48] Time to start thinking about 2024
[0:15:17] Focus on the end goal and achieving it
[0:15:24] Disclaimer about investment advice
[0:15:51] Past performance not indicative of future performance
Powered by ReiffMartin CPA and Stone Hill Wealth Management
Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter
https://www.wealthbuildingmadesimple.us/
Thank you for checking out our free content on financial planning, the wealth mindset, and investing in innovation. If you've found value in our blog posts, I invite you to take your knowledge and commitment to the next level. Sign up for our premium paid newsletter today and receive daily insights and expert analysis directly in your inbox. Stay ahead of the curve and unlock the secrets to financial success. Don't miss out on this opportunity to deepen your understanding and gain an edge in the world of finance. Join our premium community now and embark on a journey towards financial abundance and investment excellence. Sign up today and let's grow together!
WBMS Premium Subscription
Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
The Importance of Building a Business Treasury for Long-Term Success
Understanding the Changing Landscape of Finance and Investing
Mitigating the Unintended Consequences of Business Failure: Divorce, Death, Disability
Understanding Currency Trading and Investing in the Future Economy
Embracing Emotions for Successful Wealth Building
WBMS Docuseries: Healthy Mind, Body, and Spirit (Episode 4)
Exploring Alternative Payment Options and Mitigating Fraud Risks
Understanding the Core Building Blocks of Finance
Buy, Borrow, Die: A Wealth Building Strategy for the Rich
Understanding the Evolution and Flow of Money in Wealth Building
Building Financial Confidence: Navigating Thoughts, Actions, and Feelings
The Risks and Rewards of Surge Pricing in the Fast Food Industry
Understanding the Fundamentals of Money Management
Overcoming Negative Emotions About Money
Maximizing Retirement Savings and Tax Benefits for Business Owners
Sound Money Management: Principles for Individuals and Society
Building a Strong Business Foundation: The Business Planning Pyramid
Bitcoin Mining: A Lucrative Opportunity for Investors in the Crypto Space
WBMS Docuseries: Healthy Mind, Body, and Spirit (Episode 3)
Private Equity Trends for 2024: How to Attract Investors for Your Business
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast