What Millionaires Won't tell You About Running a Business

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 17 September 2021

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Why does starting a small business sound so "sexy" by today's standards? Social media and self-help empires make taking the leap and being your own boss sound wildly appealing, but is it really worth the risk? Let's break down lots of financial statistics about business owners, along with our best advice as small business owners ourselves. You'll leave feeling equipped to know the pros from the cons and motivated to make the decisions that are right for you. For more information, visit: https://www.moneyguy.com/2021/09/what-millionaires-wont-tell-you-about-running-a-business/ Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's starting a business worth the risk.
0:04.0	It's Brian Preston, the money guy, restoring order
0:08.0	to your financial chaos, retirement, investing, taxing.
0:13.0	You've got financial questions, he's got financial answers.
0:16.0	It's Brian Preston, the money guy.
0:20.0	Brian, I am so excited about this, because I think a lot of folks
0:23.0	they hear about small businesses and entrepreneurs
0:26.0	and starting their own thing and being their own boss
0:29.0	and they think about it as this really aspirational,
0:32.0	super exciting, super high achieving thing that they want to do.
0:38.0	But I worry that a lot of people don't realize
0:40.0	it's more than just unicorns and rainbows.
0:42.0	It's more than just a happy time.
0:44.0	There are some other thoughts they need to go into,
0:46.0	whether or not it makes sense for someone to start a small business.
0:50.0	Yeah, I think it's getting to the language of this
0:52.0	is that I'm such a simple guy.
0:53.0	I talk about small business owner.
0:55.0	But if you go on and if you've watched enough bachelor
0:58.0	and other things, always think it's obnoxious when people,
1:01.0	their title is entrepreneur.
1:03.0	I mean, I feel like I got a Jaguar.
	...

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