People go into business because they think they will be able to make more money and thereby be able to finance a more comfortable lifestyle. Sadly, though, most really don't have the correct attitude and end up strangling the business for cash. In doing so, their business fails. Study shows that 95% of businesses fail during the first 5 to 10 years. Take advantage of this episode to learn what you need to keep in mind when starting a business and pay yourself as a business owner.
Here are a few insights you’ll hear in today’s show…
Why do people go into business?
Why do the majority or 95% of people going into business fail within the first 5 to 10 years?
The difference between re-investing and overspending.
How do business owners know how much money to take home money and how much to reinvest back into the business?
