So You're Making Money Now... What's Next? | Ep. #666

In episode #666, Eric and Neil discuss what to do with your success. Tune in to hear what your next steps should be. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: So You're Making Money Now... What's Next? [00:48] Neil’s current salary is $0 and he dumps all profits back into his company. [00:55] He has no other passions, so what would he do with the money? [01:10] Neil thinks a business is like a baby and they only want to nurture their baby. [01:30] Take the absolute minimum salary that you would need. Don’t forget you have to pay taxes on your income! [01:45] Putting your profits back into your business is the best ROI. [02:15] The best bet is always the one you take on yourself. [03:05] If you have other aspirations besides your business, that’s cool, but if you want to further your business, always reinvest in it. [03:32] If you’re content and don’t care for more money, take the money and do what makes you happy. [03:50] OR you could hire people to run your business and take it to the next level. [04:22] If you want more, but aren’t a great leader, hire the right people to run your business. [04:45] Be ok with letting go of control. [04:56] Read the book Rocket Fuel for inspiration. [05:10] The COO Alliance is the only organization in the world that wants to help the number 2 leader in every company. [05:37] Invest in your number 2, because they will be the driving force of your company. [05:44] That’s it for today! [05:47] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.