Carl-Gould-#70secondCEO-Building the Balance Sheet

Building the Balance Sheet

Hi Everyone, Carl Gould here with your #70secondCEO. That’s right just a 70 second investment each day for a lifetime of results. Today’s topic is - Building the Balance Sheet. 

You know it’s interesting people come to me and say, ‘Carl, grow my business.” What they’re talking about though is their profit and loss, their income statement, am I making more than I’m paying out? But you know what, you’re not building wealth there, it’s your balance sheet where you start building wealth so, what we’re recommending here is taking up to 3% of your gross revenue putting it in a segmented account to build your assets. 

Buy the building in which you are operating

Invest in deferred comp

Insurance policies

Key man insurance

Life insurance

Other insurance and safety vehicles like that, that fall into deferred comp

Your retirement plan

Investing in stocks

Investing in other businesses

How are you building your balance sheet? 

So, of the things I just mentioned, which are the ones you still need to do?

Like, follow this podcast, comment below, and tell me which area of your balance sheet you still need to build. This is Carl Gould and this has been your #70secondCEO.