When can a few bucks make you millions? If you said buying lottery tickets, then good luck! We say reading "BEST PRACTICES OF HIGH PERFORMANCE ENTREPRENEURS" can help make you millions in profit faster, WHEN...you aggressively implement these "Best Practices" proven to accelerate growth. This isn’t an academic study or theoretical presentation. It‘s a step-by-step process that's been used to create some of the "Fastest-Growing Businesses" in the country, just like your business.
The owners have at least $3 million in their retirement fund, within 10 years.
Most everyone laughs when they see this best practice, yet it is often one of the real keys to building a successful AND sustainable business. Putting this as a critical goal for your business changes WHAT you and your team do, and WHEN you do it. It makes everything more urgent and more important to get results NOW, not just stay busy and hope it all works out in the future. This is one of the keys to achieving our goals 10 or 20 years faster.
In addition to growing the business 5X-ASAP another great strategy is to use the “$3 Million More” process to retain an additional $1 million-to-$4 million, protected and guaranteed asset. You can also use these retained funds to accelerate the growth of your business. This unique strategy was developed by Shawn Kieley, of Perfect Financial, and uses a powerful financial management strategy, to leverage existing business or personal cashflow, before we spend it. This is unlike other investment systems, where we have to put in money that is left over, and then park it for a long time, and pray it's still there later.
As an example, if your business cash flow is typically $500,000 a year, then it is often enough to acquire an additional $1 million, in as little as 10 years. For businesses with annual revenues of $2 million or more, it can be as high as $4 million, in about 10 years. This is in addition to any other investments, not a substitute. It can also work with family cash flow, but the results vary depending on budget.
Lastly, too many entrepreneurs neglect the simple fact that no one is going to help us retire. We are responsible for every last dime we need to live the way we want now and in the future. The older we are, the more urgent it is to get reliable results. Counting on the sale of the business to fund retirement, we must ensure that the business is worth enough, that it doesn’t decline in value, and that there’s a real market for it when we want or need to sell it. Until we have $3 million and more, reserved for retirement, then we have all the more reason to make sure we are building a business that can earn another million dollars, as soon as possible.
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The founder of Hot100Business, Corey has worked with thousands of business leaders to accelerate profitable and sustainable revenue growth. A growing number have made it to prestigious "fastest-growing" lists, such as the Inc 500/5000, the SBA Small Business of the Year, the Business Journal Hot 100 and many others. One of his most successful clients, PopCap Games, went from startup to selling to Electronic Arts for $1.3 billion.
Corey's goal is to help business leaders get upwards of 10-20 years ahead of their competition. He is co-author of the book, “Best Practices of High Performance Entrepreneurs” along with Russ and Roger Allred. (2006-2018). In addition, Corey has been featured in articles in Inc. Magazine and Go Magazine. Corey and his team are higher-performance advisors and investors, who work with the high-performance businesses in the Pacific Northwest.