Episode 638: “At what point should I start taking money out of my business in order to invest?”

Today’s episode was recorded on the beach of my private island in Fiji. Recently, I made a request on Facebook for people to send in questions for me to answer about your business. I received some good ones that I am going to record for you over the coming days. Today’s question is from Michelle who wants to know at what point you should begin to take money out of your business in order to invest it.

I start by suggesting some general guidelines around the reserves you should have set aside for your business just in case you have some lean months of revenue.

I discuss my own personal history with my revenue growth and how and when I decided it was time to start investing some of the income I was producing; and I share some of the investment choices that I have made.

I explain the importance of making sure you have access to liquid cash in the event that something completely unexpected occurs which will help you to survive some of the similar hurdles that I have encountered over the years.

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