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

Nomzy Stholly

8 min

Investing & Markets

Description

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 <a href= "https://docs.google.com/forms/d/e/1FAIpQLSegKGoOGZ2CfPUZjPMAMSWD_lBVKSSRym1HP57fQJV67oAwEw/viewform"> here</a>! TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: When Should You Take Profits In Your Company?</li> <li>[01:02] Neil started a company when he was 16 and didn’t start taking profits until he was 20/21.</li> <li>[01:21] He thinks he was foolish for waiting so long.</li> <li>[01:35] If you need the money, take what you need to survive.</li> <li>[02:24] It’s also wise to reinvest your profits.</li> <li>[02:50] Things can go wrong, so putting profits aside for emergencies is smart.</li> <li>[03:35] Know your living expenses, so you can determine what you need.</li> <li>[04:05] Maybe you want to travel or live a good life; if that is important, take the profits.</li> <li>[04:41] Some companies don’t do dividends, because they are re-investing them.</li> <li>[05:20] Don’t expand beyond your core business.</li> <li>[06:46] That’s it for today!</li> <li>[07:30] We hit

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Episodes

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

Nomzy Stholly

8:28