In this new emerging landscape, the pursuit of personal aspirations has given rise to a surge in small businesses and side hustles. Whether driven by passion, necessity, or a combination of both, individuals are increasingly venturing into these realms.
However, the path to success is a delicate dance between reinvesting profits back into the business and maintaining one's personal financial stability. In this episode I wanted to explore the intricate balance needed between these two crucial concepts and explores strategies on how to find the right balance.
If you run a side hustle or a small business, you’re gonna want to listen to this one. A x
Key moments throughout the episode..
- What is Reinvestment for small business [03:01]
- Understanding Personal Financial Stability [09:28]
- Finding the right balance for reinvestment into business and personal savings account [10:04]
- Set clear financial goals [10:10]
- The concept of Gradual Reinvestment [10:49]
- Establish an Emergency Funds [11:18]
- Budgeting and measurement [11:49]
- Diversify your revenue streams [12:28]
To book a discovery call with me, head to www.amybajada.com.au/discoverycall
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