Want to learn the secrets to work-life balance? Rob and his callers discuss their struggles to balance their time between work, family, and health. It’s challenging to spread your time properly when you’re building a growing business. However, if you don’t learn to prioritize family and health, then you will suffer in the long run.
Work Life Balance – Callers Weigh In
Our friend Hitomi starts off the discussion relaying her experience with work life balance stress. Maintaining her personal growth has been a challenge as she grows her business. Her success has come at a cost to her health and relationships with family and friends. Therefore, she has taken action intentionally the past five years. She advises all of the other callers to prioritize their own health.
Rob responds, admitting that while his real estate business was growing, he was living out of balance himself. Working extra hours resulted in weight gain from neglecting nutrition and exercise. He straightened his priorities before the damage was irreparable, but it cost him in his own personal relationships.
Right or wrong, building a business from the ground up requires sacrifices, and the damage is almost unavoidable. This is because most business owners go into their endeavors without knowing how much work it will take to succeed. Once you realize what your new lifestyle entails, you scramble to juggle every aspect involved. Rob soon realized the importance of hiring staff to perform certain tasks so he could concentrate on what only he could do.
Nick concurred with these statements. He is starting his second business, and learning from the challenges of his first. Spending time with his wife and young daughter are his top priorities. Rob has seen his dedication firsthand.
Join Our Community
Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!
Rob Rowsell shares how to build a successful company from the ground up. Rob built a multi-shop auto repair business and invested his wealth wisely. Eventually, he cashed out and sold his business, transitioning to a passive residual income. Here’s how he did it.
Build A Successful Company – Step By Step To An Extraordinary Business
Rob starts out the discussion by introducing us to a five point strategy to build a successful company. This takes in all of the phases, from purchasing the business all the way to cashing out and retiring into a new life post-ownership. Here are Rob’s steps to business success:
Intelligently Invest Your Active Income
Congratulations! You now own a business. Chances are you are working the counter and doing other jobs as you establish the systems and processes your employees will follow. Ideally, others will handle all of the day to day operations once you are more established. Meanwhile, you need to be socking away whatever cash you can from your active income. Opportunities will come along to increase that income as your business grows. As your income increases, your investments should, too. Rob goes into great detail about those investment opportunities in our monthly Zoom meetings. Are you serious about growing wealth as you build a successful company? You owe it to yourself to join the ATL Community.
Pay Yourself Tax Efficiently
There are many tax benefits to owning your own business. You must pay yourself first, but don’t take chances. Make sure you consult with your CPA regularly to find legal tax advantages. The more money you can keep, the more you can invest.
Build a Successful Company by Using Active Income to Build Your Net Worth
Your business is an active income machine. It’s easy to keep escalating your lifestyle as the money rolls in, but avoid going overboard! A few Community members also have worked in the auto repair industry, and can attest that it is a great bang for buck investment. When you purchase and renovate an automotive shop, the revenue will soon pay you back.
Grow Your Company’s Value
Business growth is always an unrealized gain. Therefore, it is extremely tax efficient. Over time, you could very well 10x the value of your business from the purchase price over the years. This could be done by opening more locations and finding new revenue streams. You will not take a tax hit on the value of that business until you eventually put the business up for sale.
Transition to Passive Residual Income Over Time – The Final Step to Build a Successful Company
There are many opportunities to invest your active income. If you play the money game right, you can eventually replace your active income with regular passive residual income. Eventually, that means you can retire and live off of mailbox money derived from your investments. Remember, to build a successful company is only one part of the financial journey. The end goal is to eventually work yourself out of a job!
Join Our Community
Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!
Multifamily real estate investor Rob Rowsell outlines the 7 Investment Tips for Business Owners. You can take total control of your finances when you invest profits intelligently! Compound interest and your own unique advantages are just two facets of your wealth building journey. Make sure you also have an exit strategy…from life itself! Pass your estate on seamlessly to your heirs, but not all of it. Most of it should be given away to good causes.
Breaking Down 7 Investment Tips for Business Owners
You want to build a business, and not a job, right? Of course you do! These are the seven investment tips for business owners who want to grow into a passive income and out of the rat race.
Once your cash is stacking up, investing it wisely is key. Set aside spare time for education outside of your business. When you look at yourself from an outside-in perspective, you can identify your advantages in the marketplace. Some business owners, such as Rob, have found their fortunes in real estate investing. Other investments may play more to your strengths. Over time, the money you put away for your outside investments will overtake your annual salary.
Tip 3: Control Your Personal Spending and “Leakages”
Live within your values, not your vanity! It’s hard to fill a bucket with water when there are little holes all over it. In much the same way, you can nickel and dime yourself out of untold wealth with unneeded purchases. Think of how much that former smokers estimate they save each year after quitting. Now, think of your daily candy bar or Starbucks habit. How much spending can you avoid each year by giving that up? Better yet, what if you invested all of that money in a mutual fund with high yield compound interest?
Investment Tips for Business Owners – Advanced Steps to the Finish Line
Tip 4: Actively Reduce Your Tax Drag
It’s not what you make, it’s what you keep! Saved taxes is an income bucket. If you find (legal!) ways to save on taxes, investing that money can equal huge cash returns over time! Remember, you are the quarterback of your finances. Nobody will care as much as you should! That includes your CPA and investment strategists, so don’t just blindly trust them to do the right thing every time. You’re not their only client, and everybody makes mistakes, so keep an eye out.
Tip 5: Avoid Foolish Capital Losses
We’ve all been tempted once in a while by new financial trends promising big short term returns. Hopefully, you have not been conned by cryptocurrency schemes or other random investments with no due diligence. Everyone (including Rob!) has fallen for this kind of snake oil. Don’t get fooled into thinking that you can successfully invest as easily as you can run a profitable business. Line your pockets, and not a con artist’s!
Tip 6: Let Time Compound My Net Worth and My Advantages
When you put the previous tips into practice, the goal is to build an additional wealth engine. This engine is independent of your business. The longer you work at establishing it, the less work you will need to put into it, as the engine will start running without your help. How? Once again, remember that the keys to starting this engine and keeping it running are using the education you’ve acquired in the marketplace to gain experience. Nobody starts out as an expert in any given field. If it were easy, everyone would do it. Putting in the work over time will both compound your net worth and your advantages.
Tip 7: Build My Estate Plan and Philanthropic Legacy
As you approach the finish line of your career and life, money will be less and less of a worry. Since you have built passive income over time that will serve you in retirement, you should turn your thoughts to what that money can do for others after you die. After all, you can’t take it with you! You invested your wealth both to provide a comfortable retirement and to help your survivors.
A staggering 70% of all wealth transitions do not end well! Regarding inheritances for your family, Rob recommends the book Preparing Heirs. It’s a game changer! Bottom line, choose an amount of money that can help your heirs live comfortably. This shouldn’t be an extravagant figure. Then, you should pick an age when your heirs will be mature enough to wisely invest that money. You should give the majority of your wealth away to philanthropic causes. We all know that helping others through scholarships, church mission funds, or other good causes will do exponentially more good than just giving it all away to our kids.
Conclusion – Investment Tips for Business Owners
That was Rob Rowsell’s quick and dirty outline of seven investment tips for business owners. These are the same strategies Rob has used for years, literally working his way up from nothing. From a homeless drug abuser to working in an auto repair shop, to then owning multiple shops, to finally selling those businesses in order to concentrate on real estate investing. Most importantly of all, he also teaches others to build wealth like he has. That means you! If Rob did it, then you can too! Why not join the ATL Community and let Rob guide you personally? Sign up today.
Work Life Balance – Callers Weigh In
