Topics Covered In This Episode

• Mercer and Jeff examine business profits, discussing gross, net, and gross margin, and the implications of effectively managing these profits.
• They emphasize the importance of reinvesting profits for business growth and stability, highlighting the balance between investment and cash optimization.
• Next Jeff and Mercer explore strategies for building a strong business team, including effective hiring and the benefits of outsourcing to increase productivity.
• Managing and separating finances is crucial, they share insights on setting aside profits for personal use and separating personal and business accounts.
• The duo then discuss diversifying investments across various assets like stocks, small businesses, and real estate as a strategy for long-term growth.
• Finally, they stress becoming an owner rather than just an operator, with advice on investing in startups and prioritizing ownership for long-term success and wealth.

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