What It Takes to Grow Your Small Business to a Bigger Business with Michael Hansen

Wade is joined by friend and colleague, Michael Hansen of ProfitMax Professionals to talk about why it's important to control cash flow. The primary issue holding some entrepreneurs back in their profits is the way they are managing their cash flow. Wade and Michael talk about how to optimize the financial return on time, money, and risk back into their business. Highlights Getting to know who Michael Hansen is and how he helps his clients. - 1:50 Who's the ideal clientele? - 3:32 Different types of business commingling and how to avoid them. - 6:51 Using grandma's envelope concept in business. - 12:07 Why businesses fail. - 15:16 Benefits of having a reserve fund for your business. - 19:25 Why should you start thinking long-term for your business? - 20:00 The cost of acquisition: Why the cheapest rate is not always the best option. - 23:13 The benefits of being a note investor. - 24:39 Intentionality in financial decisions. - 27:21 Episode Resources Connect with Wade Borth https://www.sagewealthstrategy.com/ [email protected] Connect with Michael Hansen http://truepurposeadvisors.com/ https://www.facebook.com/ProfitMaxPros/ https://www.linkedin.com/in/michaelstephenhansen