As a business grows it’s tempting to take the route of raising capital – and in some instances, it’s entirely appropriate. But how do you know if you should take on equity partner? That’s a huge step and it can be a risky thing to give away some of your company. In this episode of Freedom Fast Lane, Ryan answers a listener question about when it’s right to take on an equity partner. Ryan’s insight into the things that make a business grow are very helpful when it comes to assessing the timing on this sort of thing, so if you’ll take the time to listen you might come away with a different perspective than you had before listening. And you’ll be better off for it.
Equity partners are not only about getting more funds.
When you hear the term “equity partner” you probably think one of two things: #1 – You’re giving away part of your company (true). #2 – You’re doing it to get more money (half-true). The purpose of any kind of equity move, including the addition of an equity partner, is not just about the cash that will be infused into your business. It’s also about the things you can do with that cash and how they will amplify your ability to scale and grow your company. But there are even more benefits to bringing on equity partners, including what they bring to the table in terms of experience and counsel. Ryan’s got a boatload of advice to dump on you regarding equity partners, so be sure you listen to this episode.
Taxes are really about whether you should make your own choices or others should make them for you.
As Ryan was recording this episode he was in the process of writing a HUGE check for his quarterly taxes and he used the opportunity to make a point about taxes, government programs, and why it’s always better for those who are successfully generating money to keep it instead of giving it to the government. Ryan makes his case on this episode – and it’s sure to give you food for thought. So stick those earbuds in and hit “play” on this episode of Freedom Fast Lane.
How do you deal with haters most effectively? You don’t if you’re smart.
Ryan receives questions quite often about how to deal with haters – those people who feel it’s their duty to let you know how badly you’re doing, how wrong your cause is, or how disappointing your products are. In this episode, he gives a response borrowed from one of his friends and mentors, Jesse Elder. How does Ryan deal with haters? He doesn’t. If you’re curious what that means you can hear the full-blown response and the reasoning behind it, on this episode.
Entrepreneurs are commissioned to fix the problems government creates or can’t solve.
That’s a loose version of a belief Ryan expresses quite often, and he believes it with all his heart. Capitalism is the economic system that enables any person (even you) to create products or services that bring benefit to the world and be paid handsomely for doing so. Then you have the ability to employ people, support causes you believe in, and address issues around you that you feel a compulsion to address. It’s from this perspective that capitalism drives innovation and change in our culture and Ryan’s on a mission to encourage and enable capitalism. You can hear his rant about the benefits of capitalism on this episode of Freedom Fast Lane.
Outline Of This Great Episode
- [0:16] How you can find the Freedom Fastlane TV episodes.
- [1:11] Why money in people’s pockets is always a better investment than giving money to the government.
- [6:28] When are equity partners a good idea?
- [10:19] What’s the best way to deal with haters and trolls?
- [13:09] A case study from a FFL tribe member’s business – and Ryan’s advice to go to the next level.
- [20:02] Why capitalism drives innovation and change.
Resources Mentioned On This Episode
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P.S. Tickets for this year’s Capitalism Conference (Formerly Freedom Fast Lane LIVE) are now on sale. Go get your tickets here!