Chris WiserSerial Entrepreneur and MSP Growth Catalyst

Do this to start building wealth in your business

Name: Do this to start building wealth in your business
Uploaded: 2024-04-26T18:52:46Z
Channel: Chris Wiser
Description: Chris Wiser and a guest argue that business owners should build infrastructure first: hire people, systematize processes, automate work. Then cut costs…

26 Apr 2024

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Chris Wiser and a guest argue that business owners should build infrastructure first: hire people, systematize processes, automate work. Then cut costs through lower taxes, interest, fees, and insurance before maxing retirement plans. Keep more money in the business to reinvest or buy cash-flowing assets.

So, you know, the topic was building sustainable wealth for your business, all these different things. Let's dive into that right away.
Yeah.
What's your first big tip?
Like one is I think that business owners need to feel less guilty about not funding the retirement plan because a lot of times they think, oh, I got to, I got to start putting money there before they've really built the infrastructure of their business. They haven't hired the right people. They don't have the right processes, they don't have the right automation. And all of a sudden they're robbing that and putting it into other investments they know nothing about. So my biggest thing is, hey, let's just show them how to keep more of what they make, save on tax, save on interest, save on investment fees, save on insurance costs, and then put that back into themselves, their business or creating cash flow.