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The HARD Truth About Building Your Business ( Questions and Answers) | Episode 145
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It is time to take a dive deep into some of the most pressing questions posed by you, our listeners. From choosing how to pick a good business partner to the complexities of setting up a holding company, we are going to talk about what we have EXPERIENCED! Whether you're a budding entrepreneur or an established business owner, this episode is packed with actionable advice tailor-made for you. We will unpack :
🔌 How to choose a business partner: The importance of becoming a good business partner yourself and the necessity of complementary skills and killing the ego in a partnership.
🏠 Real Estate and LLCs : Whether to put a primary residence under an LLC, , the advantages of using a revocable trust for property ownership and the legal and tax implications of property transfer to children.
🔥 Financial Mistakes and Lessons : Our mistakes related to investment in an Amazon business, our investment that turned out to be a Ponzi scheme and learning to avoid high-risk investments and focus on steady, reliable investments.
🏢 Setting Up a Holding Company: When to consider setting up a holding company, the different strategies for earned versus passive income and the legal protections provided by structuring property ownership through LLCs and a holding company.
And so much more!
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