Last week we began a discussion about your ‘real business’ – ie, actually building wealth, not just buying yourself a job. The ability to create assets to support your long term financial security – and dreams – is as critical a business skill as sales and cash flow management.
Building wealth as a business owner – rather than as an employee, or a trust fund baby – requires a very different set of skills. Just like your expert team works best if it includes a business-minded accountant (and a business coach who loves Blackboards), so too it pays (literally) to have a relationship with experts who understand that distinction and can help you achieve your family’s financial goals.
So I’m delighted to introduce our next Guest Host, Megan Kelly from businessDEPOT Wealth. From the basics of budgeting without a fixed income to the potential benefits of a Self-Managed Super Fund (SMSF), to Estate Planning complexities with a business that could be worth millions or tens of millions, Megan’s breadth of experience means her insight on wealth planning for business owners is always valuable.
One of the essential skills is transferring your business expertise into the personal sphere. In this week’s episode, learn the value (and simplicity) in creating a Personal Balance Sheet for measuring your personal assets and liabilities (while ensuring the Assets are growing faster). You can watch it here.