Welcome to the Wind Make Give Well Series.

My name has been Kenny, joined here with Chad Himes, Bob Stewart and Dave Weldon.

We are in the buckets of wealth section, specifically we are talking about the business bucket.

The business bucket says that we believe that a substantial amount of wealth in the world is created by investing in or owning or starting a business.

In fact, in many situations, investing in a business can provide some of the largest returns in the world because

if we talked about the S&P 500, what was the average return on that for the last while?

11% 11 okay, we talked about investing in real estate and how it appreciates you can get cash flow, but it's very rare that you can go buy a duplex and and have rents that are a thousand dollars in the next year decide to make them 10,000.

That doesn't happen no, but there are situations in business where you can buy a business that's making 10 grand or 15 grand or 100 grand.

In a couple of years, they can make a half million or three quarters of a million or a million.

I've done it many, many times.

In fact, of all the things that we talk about, I bought a lot of real estate, but I do think that this is a bucket gentleman that we've lived in for a long time and you guys have all been involved in many of the businesses that we've bought, purchased, turned around, built from scratch, built from scratch, some way dramatically screwed up.

Yep, but we've been on that journey.

So today, I want to talk about a few things, one, starting a business, okay, the different types of business Chad that we could start.

And then what does that business need? What are the requirements of any good business, whether you own all or part of your starting from scratch?

Second, I want to dive in to how to invest in a business that maybe somebody else started and you're going to invest in and being a minority or being a majority partner, Bob or maybe how do you pick the partner that you want to be in business with.

And then I want to talk about how to value a business. So you own one or you're going to own one. What is it worth? How do we add that to our net work track or that we talked about earlier in the well series.

And then we're going to talk about tax strategies and how to leverage own into business. It's one of the most important reasons. I think for you listeners to think about how could own into business dramatically change my tax strategy.

And then I just want to pick your guys's brains about MLMs and side hustles and franchises and see if we could find some winners out there and just get them down to the truth of what they produce.

And Matt could be some considerations for somebody. Mark today. Let's tell it sound solid down solid Ben. Okay.

When when you own a business, even if you have a job, so you could be an employee of one company, Bob, but maybe you start your own business. Okay, it could be really small. You could literally do an arts and crafts project and you decide you want to sell these pots or these paintings or these whatever you make right.

Or you could turn into something really big, but when you own your own business, even if you have a job, it allows you to do a lot of things in investing in taxes that aren't available to people that are just employees. Okay.

So if you walk away from anything in today's session, it's how could I have a really small business that allows me to take advantage of tax strategies.

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