So You're Making Money Now... What's Next? | Ep. #666 - a podcast by Eric Siu & Neil Patel

from 2018-05-28T10:00

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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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