The Wealth Without Wall Street Podcast
Round Table | Million Dollar Insights from 525,600 Minutes (Part 1)
Jan 2, 2024
The hosts discuss their million-dollar insights from 2023, including lessons learned, deal flow, tax strategies, and the Infinite Banking Concept. They emphasize the importance of accountability, community, and the power of coaching. Learn how to transform active income into passive income and hear a success story involving a retired couple and short term horse rentals. The speakers reflect on mistakes made and the need to learn from others' experiences.
39:39
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Quick takeaways
- Building businesses with recurring income models can significantly increase their value when it comes to selling them, reaching multiples of 30 or 40 times the gross profit.
- Incorporating insurance policies with living benefits can provide crucial financial support and assistance in times of specialized care due to health issues.
Deep dives
Building businesses with an eye on future sale
One of the main insights from the podcast episode is the importance of building businesses with the expectation of selling them. By creating businesses with subscription-based or recurring income models, the value of these businesses can increase dramatically, reaching multiples of 30 or 40 times the gross profit. This insight highlights the significance of considering the long-term value and potential sale of a business when making strategic decisions.
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