In this episode, Dan and Ian discuss the credible and reliable ways to build wealth through your business, based on the work of author Keith Cunningham.
The conversation emphasizes building a financially sound foundation for your business by understanding and applying financial principles, planning effectively, managing risks, and maintaining financial discipline.
As Cunningham says, "Building a business without mastering the financial statements is like building a house on the beach. It’s not if the tide will come in, it’s when. And the tide always comes in."
Enjoy this week's episode as you consider how to build a durable business for long-term success!
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Chapters
● (00:00:44) Introduction: Credible and Reliable Ways to Build Wealth Through Your Business
● (00:04:09) Building a Durable Business for Long-Term Wealth
● (00:04:54) Mitigating Risks: Excess Capacity, Client Concentration, and Key People Dependency
● (00:11:49) Understanding the Language of Finance for Business Success
● (00:19:01) Sustaining a Business for the Long Term: Commitment and Adaptability
● (00:20:53) Understanding Finance and Starting a Business
● (00:33:50) The Role of Culture in a Company
● (00:35:29) The Responsibilities of a CEO
● (00:37:42) Growth Priorities for Business Success
● (00:39:09) Capital-Efficient Strategies for Wealth Generation
Links:
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
The Secret Weapon for Pricing Power
How Healthy is Your Business?
The Million Dollar Service Business Playbook
