Dan Martell - May 22, 2023


The Biggest Entrepreneurial Mistake

Hosted by
Dan Martell
Don’t Wish Your Problems Were Smaller The One Question to Ask Your Team

Episode Stats


Length

35 seconds

Words per minute

210.17

Word count

124

Sentence count

8


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Every entrepreneur that s ever created wealth will always reinvest in the business to the degree that they have an efficient reinvestment strategy. But if it s not efficient, meaning you can t see the ROI clearly, take it out and let the company figure out how to generate more cash.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
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.