When Should You Take Profits In Your Company?| Ep. #983

In episode #983, we discuss when or if you should take profits from your company. Tune in to hear when you should plan for this. We have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress here! TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: When Should You Take Profits In Your Company? [01:02] Neil started a company when he was 16 and didn’t start taking profits until he was 20/21. [01:21] He thinks he was foolish for waiting so long. [01:35] If you need the money, take what you need to survive. [02:24] It’s also wise to reinvest your profits. [02:50] Things can go wrong, so putting profits aside for emergencies is smart. [03:35] Know your living expenses, so you can determine what you need. [04:05] Maybe you want to travel or live a good life; if that is important, take the profits. [04:41] Some companies don’t do dividends, because they are re-investing them. [05:20] Don’t expand beyond your core business. [06:46] That’s it for today! [07:30] We hit our goal of 1 Million downloads! So, we will be throwing a free event in Los Angeles this June. Check out this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested! DM Eric if you would like to participate in the VIP dinner. 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.