The podcast explores setting financial goals and the importance of net profit in achieving those goals. It discusses maximizing income through strategic deals and digital marketing. The hosts share their plans for nationwide expansion in wholesaling and their experiences with advertising strategies.
12:48
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Quick takeaways
Setting stretch goals in terms of financial targets with a focus on net profit is crucial for business growth and success.
Maintaining sufficient cash reserves and consistently achieving a healthy profit margin are vital for navigating financial challenges and achieving long-term business goals.
Deep dives
Setting Revenue Goals
The speaker shares his revenue goal of achieving $50 million in total revenue across all his companies for the year 2024. He acknowledges that it is not an easy task, but he believes it is attainable. He emphasizes the importance of aiming for the best-case scenario, even if the actual revenue falls short, as long as the net profit numbers are met.
Stretch Goals and Net Profit
The speaker advocates for setting stretch goals in terms of financial targets, with a clear focus on net profit. He explains that while certain tech companies prioritize revenue growth over net profit, for most people, net profit should be the goal. He highlights the significance of maintaining a healthy net profit margin and discusses the strategies he has implemented to improve margins for his businesses, such as reallocating resources and cutting unnecessary expenses.
Prioritizing Cash Flow and Margin
The speaker emphasizes the importance of maintaining sufficient cash reserves for businesses, highlighting how having cash on hand during difficult times can help weather financial storms. He also stresses the importance of maintaining a consistent profit margin, mentioning his goal of achieving a 40% margin. He explains that while specific goals for real estate acquisitions are not a priority for him this year, he is focused on leveraging digital marketing techniques and optimizing his existing businesses, such as his house flipping wholesale company, to achieve his revenue and margin targets.
Have you made your 2024 goals? Have you stuck to accomplishing them? --- Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcast ---
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media a...
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