EP 203: Building wealth outside your agency with Chris Prefontaine

Build a Better Agency Podcast · Aug 26, 2019 · 1m

One of the most expensive mistakes many agency owners make is leaving too much money in the business. It's too easy to forget that the retained earnings in the agency's checking account is actually your money. You've earned it. You've paid taxes on it. It should be in YOUR bank account. But, when you leave it inside the agency you often spent it on bad financial decisions, like staying overstaffed rather than making the tough call to downsize if business shifts. You need to build your wealth outside of your agency. I dove into that topic in detail in episode 115 if you want to go back and…