🔶🔸Mason Cosby🔸🔶's Linkedin Analytics

If you are considering building a business, please read this. Last year, I took home $40K from a business that generated $1M in revenue at a 20% profit margin. I have seen many people start their businesses in the past 3 years. These businesses often post about how amazing everything is going. How much money they are making. The free time they are experiencing. And how it was the best decision of their life. Many of those businesses don't exist anymore. I intentionally only took out the exact expenses my family needed to live on for 18 months for the following 4 reasons: 1) Survival The agency space has been hit hard this year. So while things were going well, I saved for when they wouldn't be. We likely won't be massively profitable every single month this year. But I don't have to stress about making payroll. Because I know if every client stopped paying us all at once... We're still ok for 6 weeks right now. Which means I can (generally) sleep better at night. 2) Long-Term View No one wins business. This game is infinite. My goal in year 1 was to ensure we had a great year 2. And this year, the goal is to ensure we have an even better year 3. We only do that by continuing to exist. And money in the bank ensures we can continue going. Being able to continue to exist is the single hardest thing for any start-up. 3) Growth We've been growing. But fun fact, net-30 is a thing. Which means I have to hire and pay people for the work we're doing Before the client has paid us. So, the need for operating capital continues to grow. Which means we needed more money to continue our growth. Which means we needed to leave more in the business. Which means I needed to take home less to feed the growth of the business. 4) I'm not perfect I made about $200K in hard cost mistakes last year. This is the first time I've run a business that's done more than $1M in sales. This is the first time I've hired 14 people in 18 months. This is the first time I've been responsible for everything. I made so many mistakes last year. So So So Many Please read this again. $200,000 in mistakes. Which means we could have made $400,000 in profit last year. Instead, I spent the equivalent of an MBA to get kicked in the gut repeatedly. If you start a business, you will need margin to mess up. You only get this margin by leaving much money in the business. If you want to start a business, go for it. Despite all this, it's been the best decision for me professionally. But it has been, without question, the hardest thing I've done professionally. And if you have questions, I'm happy to share anything I can about the journey over the past nearly 2 years. P.S. "Your lifestyle is your competitor's advantage." - Alex Hormozi Just live on less. So you can completely change your life.