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179. Putting all my financials out there
Manage episode 419262763 series 3564764
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Ever found yourself scratching your head, wondering why your seemingly successful business isn’t lining your pockets? Join us as we tear down the facade of profitability and navigate the treacherous financial waters of fitness studio ownership. This episode is a treasure trove of insights for entrepreneurs, from the shocking moment our ledger bled red to the deceptive comfort of early gains. We’ll unravel the cash flow puzzles posed by annual memberships and share the stark realization that the health of your business's books may not mirror your personal wealth. Whether you're a seasoned business owner or a fledgling investor, you'll gain valuable knowledge on the crucial elements that drive a business's financial success—think buying smart, leveraging technology, and the art of delegation.
Is the grass greener on the side of small businesses or rental property investment? We've crunched the numbers and laid bare the realities of both worlds to arm you with the knowledge to make the best financial decisions. With a story of how we sifted through 62 fitness studios to pinpoint the golden opportunities, we underscore the importance of meticulous due diligence and realistic economic projections. Beyond the balance sheets, we’ll explore how entrepreneurship paves the road to personal development, speaking engagements, and strengthened credibility with peers. For those ready to invest not just money but also time and passion into a business, this episode promises a blend of hard-earned lessons and the inspiration to reach new heights in your entrepreneurial journey.
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Chapters
1. Small Business Financial Evaluation (00:00:01)
2. Small Businesses vs Rental Properties Investing (00:13:00)
248 episodes
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