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Smart Strategies for Business Savings
Manage episode 437605496 series 3495003
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In this episode of 'The Tactical Empire,' host Jeff Smith and guest Shawn Rider discuss strategies for business owners to optimize cash flow and maximize wealth. They begin by sharing personal updates about local events and business projects. The main topic revolves around why business owners often keep excessive cash reserves in their business accounts due to fear or lack of knowledge. They suggest using the Profit First methodology, leveraging high early cash value life insurance policies, and utilizing credit lines as emergency funds. The discussion includes practical advice on maintaining an appropriate level of business expenses in savings and how to strategically invest excess funds to grow personal and business wealth. The episode emphasizes the importance of financial education and strategic planning for long-term success.
Chapters
- 00:00 Introduction to Tactical Empire
- 00:32 Meet Shawn Rider
- 00:49 Weekend Recap and Greek Festival
- 02:11 Business Updates and Storage Project
- 03:44 Investing in Business Projects
- 05:28 Mentoring Business Owners
- 06:26 Cash Management for Business Owners
- 09:03 Profit First Methodology
- 11:56 Leveraging Cash for Growth
- 22:17 Emergency Funds and Credit Lines
- 25:31 Closing Remarks and Social Media
You can connect with Shawn Rider on Facebook and Instagram.
If what you heard resonated with you, you can find Jeff on Instagram, Facebook.
If you're interested you can visit The Tactical Empire's website https://www.thetacticalempire.com/home-4169.
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