In episode #983, we discuss when or if you should take profits from your company. Tune in to hear when you should plan for this.
We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress here!
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: When Should You Take Profits In Your Company?
- [01:02] Neil started a company when he was 16 and didn’t start taking profits until he was 20/21.
- [01:21] He thinks he was foolish for waiting so long.
- [01:35] If you need the money, take what you need to survive.
- [02:24] It’s also wise to reinvest your profits.
- [02:50] Things can go wrong, so putting profits aside for emergencies is smart.
- [03:35] Know your living expenses, so you can determine what you need.
- [04:05] Maybe you want to travel or live a good life; if that is important, take the profits.
- [04:41] Some companies don’t do dividends, because they are re-investing them.
- [05:20] Don’t expand beyond your core business.
- [06:46] That’s it for today!
- [07:30] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles this June. Check out this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested! DM Eric if you would like to participate in the VIP dinner.
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Discover Latest Episodes
In episode #2627, We discuss the 'Tiktokification' of social media platforms, where various platforms are adopting features similar to TikTok to capitalize on its success. We emphasize the importance ...
In episode #2626, We discuss the concept of the creativity faucet and how it can help overcome writer's block and generate better content. We suggest using Twitter or reading to get ideas and warm up ...
In episode #2625, We discuss the difference between audience TAM (Total Addressable Market) and revenue TAM. We explain that venture capitalists often look at the total addressable market when investi...