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.
Business: Tax effective ways to take money out of a business
Marriage and Money: Merging Finances
Real Estate: Five reasons your home isn’t selling
Introduction to Wealth Building: Setting Financial Goals
Wealth Mindset: Freedom from limiting beliefs around making money
Business: ”What are the tax implications of being paid in equity?”
Marriage and Money: Budgeting and Financial Planning in Marriage
Financial Planning: The Ultimate Guide on how to get control of your finances
Innovation: Helping women and minority owned businesses find more money for their businesses
Entrepreneurship: ”Where do I find money to start a business?”
Real Estate: The mindset difference between rich buyer and sellers and the middle class
Financial Planning: ”How do I find a job that pays well that I love?”
Wealth Mindset: Working through the emotions of the wealth journey
Business: Smoothie King Business Study Takeaways
Financial Planning: ”How do we find the money to afford children?”
Real Estate: Housing Affordability in the DFW Metroplex
Financial Planning: ”How do I support my aging parents, pay my bills, and save for the future?”
Innovation: Bitcoin at the Center of the New Financial System
Business: The Franchise Business Model
Financial Planning: ”How am I ever going to save enough money to pay for a wedding?”
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast