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S4E5 | Turning Your Business Into Your Own Family Bank

Setting up your business as a personal family bank for financial growth and security.

46
minute read
Published on
March 22, 2022

On this episode, we investigate an innovative way to think about your business: as your own, personal family bank.

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Any business owner or aspiring entrepreneur can benefit from thinking of their business in these terms. We discuss what that shift in perspective means and the implications it can have for your business and future. Plus—and maybe most importantly—we break down how to actually do it.

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You can (and quite possibly should) set up your business as your own personal family bank. This episode gives you the why, when, and how of it all.

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How you can Steal the Show

  • Understand where you stand financially so you can develop a spending strategy and an accumulation strategy.
  • Become aware of the costs of money. (That’s right—money itself has costs.)
  • Learn the key differences between the terms “self employed,” “business owner,” and “investor” when thinking about your financial future.
  • Discover a system for building a stronger business that functions as your personal family bank.
  • Get a glimpse at challenges other business owners have faced and solved, so you can learn from their experiences.

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Listen to more episodes of Steal the Show from this season and previous ones at https://heroicpublicspeaking.com/insights.

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Learn more about Michael’s public speaking training company, HEROIC, at https://heroicpublicspeaking.com/.

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Learn more about Matt’s specialized financial services firm, Valley Oak, at https://www.valleyoakcpa.com/.

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In this episode…

In this episode Michael and Matt reference starting this process by talking about budgeting. For more information on that area of personal and business finance, listen to this season’s previous episode.

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Resources mentioned in this episode…

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Full Transcript

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