EPISODE · May 23, 2019 · 31 MIN
What You Need To Know About Good Business Practice Through Hard Lessons
from The Art of Passive Income · host Mark Podolsky
Business consultant Josh Patrick has done it all when it comes to business and today he joins us to share his expertise along with some of the biggest lessons he learned for running a great business. Back in 1976, at the age of 24, Josh took his vending business from one and a half employees to 25 in just 18 months, making 1.5 million! For 2 years his business was highly successful and then the worst thing that could have happened, happened. Actually, an unfortunate chain of events happened which left him re-evaluating his business skills. Listen in to hear the details and also find out how an employees work anniversary taught him a valuable lesson about running a good business. Josh also tells us about: His 3 most recommended books on business Something he thinks is wise that other people think is crazy Advice he would give to his younger self His best investment Plus, we dive into embracing mistakes and why people have a hard time letting go... all on today’s episode of The Art of Passive Income! TIP OF THE WEEK Mark: Learn more about Josh at Stage2Planning.com. Scott: Check out the Chrome plugin Ghostery. It blocks cookies giving you control over ads and tracking technologies. But, also good for ninja marketing when visiting your competitors websites. Josh: Robert Kiyosaki's formula for investment vs. expense—your house is not an investment it's an expense. The reason it’s an expense it doesn't have positive cash flow. So if you're going to be in a passive business and it doesn't create positive cash flow from day one it's not a passive investment it's a passive liability. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?
What this episode covers
Business consultant Josh Patrick has done it all when it comes to business and today he joins us to share his expertise along with some of the biggest lessons he learned for running a great business. Back in 1976, at the age of 24, Josh took his vending business from one and a half employees to 25 in just 18 months, making 1.5 million! For 2 years his business was highly successful and then the worst thing that could have happened, happened. Actually, an unfortunate chain of events happened which left him re-evaluating his business skills. Listen in to hear the details and also find out how an employees work anniversary taught him a valuable lesson about running a good business. Josh also tells us about: His 3 most recommended books on business Something he thinks is wise that other people think is crazy Advice he would give to his younger self His best investment Plus, we dive into embracing mistakes and why people have a hard time letting go... all on today’s episode of The Art of Passive Income! TIP OF THE WEEK Mark: Learn more about Josh at Stage2Planning.com. Scott: Check out the Chrome plugin Ghostery. It blocks cookies giving you control over ads and tracking technologies. But, also good for ninja marketing when visiting your competitors websites. Josh: Robert Kiyosaki's formula for investment vs. expense—your house is not an investment it's an expense. The reason it’s an expense it doesn't have positive cash flow. So if you're going to be in a passive business and it doesn't create positive cash flow from day one it's not a passive investment it's a passive liability. Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?
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What You Need To Know About Good Business Practice Through Hard Lessons
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