Three strategies that will help you build wealth in your business.
Are you set up for success? Today we’ll be talking about some next-level wealth-building strategies for your business. If you haven’t seen the first part of our wealth series, take a look at that video. Here are three strategies you should implement:
1. Build your financial support squad. A team of financial professionals will keep you on track with your generational-wealth goals in mind. You need a tax accountant, a financial advisor, and an estate attorney. These people are the best resource for your financial needs and questions.
2. Proactively meet with the financial team. One of the strategies I see many agents use is simply scheduling a quarterly strategy meeting. Q1 might be your tax accountant, while Q2 might be with your wealth advisor, and so on. You need to look at your profitability goals every month and bring that information to your advisors on a regular basis. All of this will get easier over time.
3. Master the millionaire real estate agent (MREA) chart of accounts. The MREA is the best tool to track business expenses in relation to your sales. It will help you organize your assets, liabilities, owner’s equity, revenues, and expenses.
If you have any questions about using these tips to build generational wealth in your business, contact me via phone or email.
