Wilsey Asset Management’s Wise Advice
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Today I’m talking with Brent Wilsey, the President of Wilsey Asset Management and we’re talking about how to make money work for you while you’re in business.
Topics covered in this episode with Brent
- Brent gives advice for new entrepreneurs on what to do with their money - to be careful with cash but also not foolish about opportunities.
- Brent gives advice on “paying yourself” - which should be a small amount if you’re just getting started.
- Brent says money is very nice but believes it’s the by-product of doing a good job and the right things for people he works with.
- Once you get past that first stage or 4 or 5 years down the road, you want to make sure you have a reserve of at least 4 to 5 months to keep going during difficult times - and consider investing “long-term.”
- Kelly asks Brent his advice on three questions:
- from a money-saving point of view, what should a business do after their initial start-up phase?
- What advice would you give for a business that is now in the “growth” phase?
- What advice would you give a business owner that would like to retire in 3-years?
His answers might surprise you.
Also, Brent advises that meeting with a financial planner early on can be a wise decision and is recommended.
Finally, Kelly asks Brent if he could do one thing over again, what would it be?
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Contact Brent Wilsey
Saturdays at 9 am on 97.3 FM The Fan KWFN
Contact the Queen of Business Law
Kelly Bagla, Esq.
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