When it comes to investing, many business owners tend to keep the focus on their own venture and oftentimes overlook any potential opportunities outside of their company. But is this the right approach? Should a business owner have outside investment?
Outside investments can bring numerous benefits, such as exposure to new markets and technologies, diversification of revenue sources, and an opportunity to increase profits beyond what your own business can provide – but with that said there are also certain risk elements associated that must be considered before making significant investments.
In this episode, I talk about whether or not you should invest outside of your business. I discuss the pros and cons of doing so, as well as when the timing is right.
As a business owner, you want to ensure the success of your company. You put in the hard work, carefully weigh each decision, and take calculated risks that could potentially bring prosperity. But are there other investments outside of your business that you should be considering? Find out in this episode!
IN THIS EPISODE, YOU’LL FIND OUT…
- When is the right time to invest outside of your business? (01:01)
- The pros and cons of investing in a shared market (02:29)
- What happens if you sell your business (03:30)
- The importance of taking money out of the business (05:52)
- How to balance your business and your investments (06:59)
QUOTES
“You need to continue to invest in your business – to grow, to hire new people, to invest in strategies, marketing and tech.” -Carl Taylor
“You’re never going to take everything out of the business. If you do that, you’re setting yourself up for the business to fail.” -Carl Taylor
WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter
Like this episode? Have topics that you would like us to discuss? We’d love to hear your feedback and comments. Let us know by leaving a comment below.