Have you ever thought about what you’ll do next if your strategy fails and things don’t go as planned?
Most of the time, we tend to invest in Plan A, hoping that everything will work out eventually.
But when it’s already too late, and we’ve gone too deep into the rabbit hole, we realise that we never had a Plan B or Plan C to remedy the situation at all!
In the newest episode of the ‘Property and Business’ series, we dive deep into why preparedness can ultimately make or break your business or property investment.
We talk about the time it takes for your business to be stable…
The challenges business owners face in getting financing…
What makes the first two years the most demanding phase in business…
And heaps more!
See you on the inside!
In this episode, we cover:
- How the world is slowly recovering from the pandemic [02:42]
- Why you need to start thinking big as times are looking up [04:18]
- Building yourself and your business back up from a GFC [07:33]
- The financial challenges that Charley faced during the pandemic [11:33]
- How long will it take for your business to be financially stable? [13:08]
- The complexities of getting financing as a business owner [15:14]
- The effect of being a business owner on your risk profile [21:49]
- Preparing for the financial chasm [23:59]
- Undergoing the business growth phase [29:28]
- The result of unpreparedness [32:24]
- The bureaucracy of finance [35:50]
- The duality of mindset in business and property [37:02]
- Always think several steps ahead to set yourself up for success [45:10]
Links from the show:
- The Road Less Stupid by Keith Cunningham (http://amzn.to/3oHI1h7)
- Check out our Optimising for Wealth Episode (https://theinvestorlab.com.au/podcast-ep63-optimising-for-wealth/)
Connect with Us:
- The Investor Lab Membership (https://theinvestorlab.com.au/jointhecommunity)
- Dashdot Buyers Agents Website (https://www.dashdot.com/au/)
- Limitless: The Renegade’s Guide to Building Wealth Through Property – Goose McGrath (https://www.renegadespropertybook.com)
- Ready to work with us directly? (https://dashdot.as.me/discoverycall)
If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast with others you know will benefit from the show!