If you’re a business owner, it’s likely that you’re irrationally passionate about what you do.
You have to be! After all, if it wasn’t you advocating, defending, promoting and pushing your business, who else is there to do it?
Your income, your wealth and your future is tied to your business.
Being in business is kind of like sailing a yacht across the ocean.
You can trim the sails, set the destination and always remain at the helm, using your instinct, your tools and your experience to get you where you want to go.
But you are subject to the ups and downs of the swell, wind that pushes you in the wrong direction (or dies off completely). You could be ransacked by pirates or suffer a breakdown of vital equipment. Crew members frequently join or depart, working to your exact orders or doing what they can to avoid work altogether.
The business you are building is the vehicle that can take you anywhere you want to go.
And in that sentence is the reason why the financial advice that you’ve been given (or the advice that you have picked up over the years) will never provide the answers you’re looking for.
Here’s what I mean…
As a business owner, your biggest concern should be making sure that what you’re building is sustainable, income producing and wealth building (some secondary concerns such as building a business you love are also important, but you need to do something that will support you!).
There are two components here – MAKING the money and then KEEPING it and growing it, and it’s here that the advice you’ve likely received and the advice you need differs.
Your business is the vehicle to your freedom. It can provide you income, purpose and wealth.
What’s more, it can (when done properly) provide you with income and wealth very quickly.
Mainstream financial advice advises you to take a percentage of what you earn and commit its ability to grow to others. “You should take your money and invest it in other people’s businesses. You should buy property and rely on others to pay the rent,” it says.
This mainstream advice talks of 5-12% returns, of investing for the long term and of working towards retirement.
What it DOESN’T talk about is the investment you have available to you that most people don’t.
It’s an investment that has the potential to return 10% by next month. Or 1000% by next year.
It’s the vehicle that you control that can take you anywhere.
It’s your business.
If you’re a committed business owner and you’re given $10,000, the FIRST place you’re going to invest it is in your business.
$10k could be a new piece of equipment, or a professional marketing strategy, or a trip to a conference that will elevate your sales knowledge.
The way that you MAKE your money is through your business.
Mainstream advice talks about using traditional investment methods for both making and keeping money, but this 30-40 year timeframe just does not make sense for someone who has a vehicle that could earn in 5 years what it would take others 40.
Mainstream wealth advice is for those who see a light at the end of the tunnel in 30 years.
Mainstream wealth advice is for those who have no control over their income.
Mainstream wealth advice is right for 99% of the population (employees), but WRONG for the 1% (business owners).
For employees, good advice is:
“Work hard, save part of everything you earn, invest in assets that will mature and grow over 40 years and look forward to retirement.”
For business owners, good advice is:
“Work as hard as you can, but work creatively. Leverage your knowledge and the time of your employees , invest as much as you can back into the business to grow it faster. Look forward to a business that will give you time and wealth freedom in 5 years.”
I can actually take this investment advice a step further.
As a business owner, the greatest investment you can make is in you. It’s your ability to see what others can’t that will propel your business to the next level.
It’s your ability to create, to imagine, to forecast and to dream.
Sure, you might use these skills to invest where you need in your business, but the point is that the business investment that needs to be made won’t happen without YOU identifying the need and making the decision.
So, all of this leads you to a pretty exciting opportunity.
It’s the investment model that will allow you to drive your business vehicle to the destination you choose.
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