In episode #666, Eric and Neil discuss what to do with your success. Tune in to hear what your next steps should be.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: So You’re Making Money Now… What’s Next?
- [00:48] Neil’s current salary is $0 and he dumps all profits back into his company.
- [00:55] He has no other passions, so what would he do with the money?
- [01:10] Neil thinks a business is like a baby and they only want to nurture their baby.
- [01:30] Take the absolute minimum salary that you would need. Don’t forget you have to pay taxes on your income!
- [01:45] Putting your profits back into your business is the best ROI.
- [02:15] The best bet is always the one you take on yourself.
- [03:05] If you have other aspirations besides your business, that’s cool, but if you want to further your business, always reinvest in it.
- [03:32] If you’re content and don’t care for more money, take the money and do what makes you happy.
- [03:50] OR you could hire people to run your business and take it to the next level.
- [04:22] If you want more, but aren’t a great leader, hire the right people to run your business.
- [04:45] Be ok with letting go of control.
- [04:56] Read the book Rocket Fuel for inspiration.
- [05:10] The COO Alliance is the only organization in the world that wants to help the number 2 leader in every company.
- [05:37] Invest in your number 2, because they will be the driving force of your company.
- [05:44] That’s it for today!
- [05:47] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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