When you own a business, it can be the most significant financial asset that you possess. Knowing how to increase the value of that asset will help you become rich. The riches are in managing money in your business, not how much revenue you make.
Equity in your business is all the assets, less all the liabilities. What is left over is the equity in your business. If you were to close your business and liquidate, that equity would be what you have leftover for you. Because you own your business, that equity increases your personal net worth.. There are business tax deductions that you can optimize, and you can take advantage of unique retirement options available to you.
, the best thing you can do as a business owner is to invest the time to learn how to manage the money in your business to increase your profit margins and keep more money for you.
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