Episode notes
Is your business actually worth what you think it is?
Many owners think their business is worth a lot of money - they often guess too high because of the love for their work. But in reality, if your business can’t run three months without you driving, it’s definitely worth less than you think.
This week on The 1% Podcast, we covered:
→ Why cash flow, not investment returns, decides most people's financial outcome
→ The handshake buy sell agreement that can cost a family half a business
→ Why most business owners don't actually know what their company is worth
→ The habits we see over and over in multi millionaire clients
→ Whether you should pay off your mortgage before you retire
A good business should be able to work well even when the owner is away. You should have an expert check the value every few years. That way, you know what someone will really pay for it.
Chapters
00:00 Intro
01:14 Why Chasing Stock Returns Misses the Point
04:50 Risk Management Beyond Investments
06:59 The Silent Tax Drag
09:38 Why Missing Legal Documents Can Cost Your Family the Business
18:30 What Is Your Business Actually Worth
22:26 Why Half of All Business Exits Are Involuntary
26:04 What Multi Millionaires Actually Do Differently
33:26 Should You Pay Off Your Mortgage
39:45 When Airline Pilots Are Forced to Retire
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