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The Practice Marketing Podcast
The Basic Triangle of Economic Freedom For Practice Owners (Acquire, Control, Expand) w/ Eric Miller
Apr 1, 2024
Eric Miller from Econologics Financial Advisors discusses the basic triangle of economic freedom for practice owners: acquire, control, and expand. Topics include saving for taxes, increasing business profits, and maximizing returns on income.
45:56
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Quick takeaways
- Mastering marketing and promotion strategies is crucial for acquiring funds to establish financial stability.
- Prudent financial management and strategic investments are essential for growing and expanding practice wealth effectively.
Deep dives
Maximizing Practice's Financial Success
Ensuring financial success for a practice involves a three-step ACE triangle approach. Acquiring money involves mastering the mechanics of acquiring funds, such as through effective marketing and promotions. Control focuses on managing and allocating resources to build reserves, profits, and investments wisely. Expanding money entails reinvesting in value-creating ventures like real estate or business growth.
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