Dan Martell - The Biggest Entrepreneurial Mistake

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00:00:00.000 One of the biggest mistakes entrepreneurs make

00:00:01.840 is they have great years.

00:00:02.980 600K, super profitable.

00:00:05.380 Next year, 500K didn't make a penny.

00:00:07.940 5 million, super profitable.

00:00:09.660 The next year, 3 million didn't break even.

00:00:12.200 Every entrepreneur that's ever created wealth

00:00:13.780 will always reinvest in the business

00:00:15.320 to the degree that they have

00:00:16.460 an efficient reinvestment strategy.

00:00:18.140 But if it's not efficient,

00:00:19.240 meaning you can't see the ROI clearly,

00:00:21.440 take it out and let the company figure out

00:00:23.680 how to generate more cash.

00:00:24.820 What would be a forcing function

00:00:26.440 for a lot of entrepreneurs is take the extra cash

00:00:29.120 out of the business, put in your hold code, put in your trust, and then force the business

00:00:32.920 and the team to continue to produce.

Dan Martell - May 22, 2023