The Real Bottom Line Wendy Brookhouse

In this episode we talk about building wealth as a business owner






Discussed in this episode:


Is investing all your money in your business a good move?Are you building a business to sell or for personal income or both?Start with the end in mindWhat is your big purpose and how do you balance that with growing your wealth?How wealth helps you fulfill your big purpose in lifeProfit is good, wealth is goodWe may not have a choice about when we stop working in our businessBuild your wealth in your business, in a holding company, or in your hands?Aiming toward your Power NumberYou have professionals help with your business, you need them in your life, tooIt costs more to not do proper planning and set upThe work you do to make your business more saleable, also makes it easier and more profitable for youNo one wants to buy a job that pays $40k/yr

Our first business couple interview!!  


Before we got there we talked about some of the ways they have structured their business operations so that they can work well together. Some key points:


Saying Yes to Opportunity – even if you aren’t quite readyBalancing perfectionism and getting something out the doorRole fluidity

And we talk about Crypto and Blockchain – not as an investment, but rather as a tool in business. 


Some of the topics we dug into were


The different types of wallets and when to use themWhat is an exchange and why do we need itWe even dug into the FTX implosion/explosion.

It’s a great 30 minutes on some pretty interesting topics.

In this episode, we talk about profit and available money in your business and what to do with it.


Discussed in this episode:


Your profit isn’t all available for you to spend1st pot is for shock proofing - how much is enough?2nd pot is for investing in your businessWe do a deep dive into the 3 areas for investment in your businessHow to measure ROI  3rd pot is for fun, to make life better4th pot is for futureHow to balance debt repayment with filling your pots

Replay Link: 3 Key Decisions You Need To Make To Thrive As A Business Owner During A Recession

My guest this week is Diana Lidstone. Diana has been building businesses for over 4 decades. She started with her own and then transitioned into helping women in service based industries as a Strategic Marketing and Growth Catalyst. Her engaging style is captivating – as are the subjects we cover:


The advantages of technology and mentorsThe components of an irresistible programWhat is an upsell and down sellWhy it is important to simplify the number of offers you haveThe importance of differentiationWhy you may not need social media in your marketing.

www.dianalidstone.com

In this episode you’ll get a technical, yet approachable, lesson in paying yourself, investing, retirement and insurance.






Discussed in this episode:


Start with the end in mind


Think of putting your money into buckets


RRSPs and TSFAs explained


Best places to keep your money


How to pay yourself


Corporations and liability


We break down life insurance as a strategy for wealth building


Protecting and growing your wealth: risk and liquidity


This is a very technical, yet approachable discussion 






Reach out with your questions and we’ll cover them in future episodes

Laura Simpson is co-founder of the start-up Side Door. And a deal maker on Dragon’s Den! She is powered by the purpose of helping musicians get paid for their worth and providing a platform.


We talk about her journey from journalist to CEOHow creative brains workHow to embrace innovative waysThe Covid PivotCreating a corporate culture where asking tough questions is the normDifferent types of investment fundraising