They say interest is a silent killer in any business. This is because you don't really notice the impact it has on your profitability until you can look at an accumulated amount over a period a time to see how much of your profit actually goes to interest. It turns out that the money taken out of a business by an entrepreneur or the owners can also be an unnoticeable drain on profitability. Many small and medium sized business owners treat their business finances as an extension of their personal finances instead of treating their business like an investment. What many fail to realize is that without a policy or process around how owners take money from their business they may be doing more harm than good to their bottom line.
How are you taking money from your business? Listen now because you may be surprised to see the impact you are having to your profits and ultimately the value of your business.
Watch this episode on YouTube: https://youtu.be/bcPWkfDAykw
Facebook: http://bit.ly/2ntaWI7
LinkedIn: www.linkedin.com/in/gallagherdylan
"music by Joakim Karud https://soundcloud.com/joakimkarud"
How to buy a business - Part 1 of 3
Growing a business for the sake of growing a business
What is the difference between profit and revenue?
Building wealth as a small business owner
How money works for small business owners
How to unlock cash in your business by investing in yourself
What should business owners invest in?
Who is your perfect customer?
Entrepreneurs! Cash is NOT Profit
Coinbase, Netflix and the 80/20 rule for business owners
Why own a business
Creating value versus consuming value
Cash Flow Quadrant, multiple sources of revenue and burying your head in the sand
dylan’s updates May 17, 2022
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dylan’s updates April 26, 2022
dylan’s updates April 19, 2022
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dylan’s updates April 5, 2022
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