Episode 92

8/11/22

Topic: Treat Your Company as an Investment

Guest: Dan Gordon & Donnie Shelton

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In this episode we discuss:

  • Dan's concepts of the Income Circle vs. the Wealth Circle

  • The Income Circle is how you make your living, pay your mortgage, put food on the table, etc. If you’ve built a predictable business, you take a paycheck and are able to pay for all the things you need

  • The Wealth Circle is your retirement. As a small business owner, you don't have incentive shares and a pension like you might if you worked for a large corporation, so you must treat your company like a valuable investment

  • How it's common among smaller companies to use their businesses as a bank account

  • Short-term vs. long-term thinking

  • How one-time services generally don't add long-term value to your company

  • Why risk is a big factor to consider in terms of business risk and investment risk

  • Why it's important to find your Golden Mean between income and investment

  • Dan's advice for

Resources mentioned:

Notable: "A $100,000 bird job is sexy. A $110 quarterly is kind of a nickel and dime deal. It takes a lot of nickels and dimes to build a business." —Dan Gordon

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