#2090 - Q&A: “How much income should I reinvest in my business?”
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 21 September 2022
⏱️ 5 minutes
🧾️ Download transcript
Summary
It’s good to reinvest in your business, but not at any cost. Today’s caller wants to know if there’s a rule of thumb he can use in deciding where to put profits.
Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
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Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
Show notes: SideHustleSchool.com
Email: team@sidehustleschool.com
Be on the show: SideHustleSchool.com/questions
Connect on Instagram: @193countries
Visit Chris's main site: ChrisGuillebeau.com
Read A Year of Mental Health: yearofmentalhealth.com
If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes. 😎 🙏🏼
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | All right, all right. Chris Gillebo here, your host of Side Usual School. Today we've got |
| 0:12.4 | a listener question about reinvesting in your business. Generally, I think it's good |
| 0:16.6 | to reinvest in your business, but not at any cost. In fact, I think it's important to |
| 0:20.9 | invest in yourself and pay yourself. That's kind of the point of having a business. |
| 0:26.0 | I mean, there are lots of benefits to having a side usual or owning a small business, |
| 0:30.0 | but I think being able to pay yourself is kind of close to the top. Anyway, our caller |
| 0:35.4 | wants to know how much to pay themselves versus reinvesting to grow the business. In fact, |
| 0:40.4 | they're focusing on the reinvesting part. I'm going to flip it a little bit and talk |
| 0:43.8 | about profit taking. A good thing to think about. The detailed question and my answer coming |
| 0:48.6 | up shortly. |
| 0:49.6 | I want to tell you today about our new sponsor, Lands End Business. Lands End Business offers |
| 0:55.6 | fully customized clothes, accessories, and promotional products featuring your logo |
| 0:59.4 | and colors elevated by decades of experience. The Lands End sent me a box of some samples, |
| 1:06.1 | including a high quality blanket. I thought it was pretty cool. Got the nice Lands End Business |
| 1:10.9 | logo on it. They also sent me a mug with Jordan Harbinger's name on it. So, Jordan, he's |
| 1:16.8 | a pretty cool guy. He's got a podcast. I enjoy. Now I've got a mug with his name on it. |
| 1:20.9 | So that's cool. And what can I say? Since 1993, thousands of businesses have relied on |
| 1:26.4 | Lands End Business to outfit their employees. Check it out for yourself. CY Thousands |
| 1:30.6 | of Companies count on Lands End Business. Go to business.landsend.com slash hustle. |
| 1:35.5 | Use promo code hustle for 25% off your first product. That's business. Lands End.com slash |
| 1:41.4 | hustle. promo code hustle for 25% off your first product. |
| 1:48.4 | Hey there, it's Kendall. I'm starting to make real money in my fabrication business. |
... |
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