Carl is the creator of the 7 Stage Growth method, which has propelled over 75,000 companies worldwide. In this micro-podcast Gould shares actionable, practical tips to grow your business. You’re too busy to be reading this, start listening!
Read the full transcript:
You know it’s interesting people come to me and say, ‘Carl, grow my business.” What they’re talking about though is their profit and loss, their income statement, am I making more than I’m paying out? But you know what, you’re not building wealth there, it’s your balance sheet where you start building wealth so, what we’re recommending here is taking up to 3% of your gross revenue putting it in a segmented account to build your assets.
- Buy the building in which you are operating
- Invest in deferred comp
- Insurance policies
- Key man insurance
- Life insurance
- Other insurance and safety vehicles like that, that fall into deferred comp
- Your retirement plan
- Investing in stocks
- Investing in other businesses
How are you building your balance sheet?
So, of the things I just mentioned, which are the ones you still need to do?
Like, follow this podcast, comment below, tell me which area of your balance sheet you still need to build. This is Carl Gould and this has been your #70secondCEO.