6 Financial Secrets of Lifestyle Business Ballers

Episode #94 – 6 Financial Secrets of Lifestyle Business Ballers
Date: 2012-03-15
Link: Lifestyle Business Podcast
 
It is tough to find people that tell you how it is.
Call people and talk to them entrepreneur to entrepreneur.
Book: The War of Art by Steven Pressfield
You don’t need capital to get a business off the ground. You need expertise, hustle, and the attitude of a pro.
Manage your money tightly so that you can go all in when you a great opportunity comes up.
Don’t spend your money.
Have a solid fallback position. Something that is protected from your business and other people in your life.
Occasionally run out of stock (of product inventory)
Keep as little inventory as possible.
It is easy to overinvest in your business.
Only take a loan for appreciating assets.
Don’t get into a financial black hole.
Beware no-brainer investments.
There is not that many good investment opportunities.
It is a lot easier to make money from your companies than make money from your money.