Ep 490: How To Build Personal Wealth In DTC with Chase Insogna, Insogna CPA
Create buckets of cash to secure short-term savings, invest in retirement accounts, and keep liquid cash for emergencies and business operations. Avoid excessive borrowing by building up your cash reserves.
In this episode, Jordan West and Chase Insogna, CEO and Founder of Insogna CPA, navigates the complexities of taxes and financial planning. Together, they delve into the importance of strategic financial management and offer practical tips for entrepreneurs in the ecommerce space. They emphasizes the need to focus on four key phases when building wealth in an ecommerce business.
Listen and learn in this episode!
Key takeaways from this episode:
Building personal wealth should be a priority for business owners.
Working with a licensed CPA can help minimize taxes and ensure proper tax filings.
Reinvesting all profits back into the business may not be the best strategy for personal wealth building.
Having multiple buckets of cash, such as short-term savings, retirement accounts, and emergency funds, is important for financial stability.
Avoiding external borrowing is a goal in ecommerce businesses.
Profit First method may not scale well as the business grows.
Cash flow management and covering short-term expenses is crucial for business stability.
Recommended Podcast/Audiobook:
The Compound and Friends: https://podcasts.apple.com/gb/podcast/the-compound-and-friends/id1456467014
The Secrets to Scaling Your Ecommerce Brand:
https://upgrowthcommerce.com/secrets-to-scaling
Recommended App/Tool:
Miles: https://apps.apple.com/us/app/miles-travel-shop-get-cash/id1393913947
Chase Ultimate Rewards: https://www.chase.com/personal/credit-cards/ultimate-rewards
Salvit Advisors: https://www.salvit.com/
Salvit Advisors Leverage Playbook: https://bit.ly/3RFKaw6
Why the 'Leverage Playbook'?
Data-Driven Decisions: By connecting your analytics ecosystem—be it GA, Shopify, or Amazon—Salvit Advisors will identify 2-3 immediate wins that have been lurking right under your nose.
Customized Strategy: Receive a pitch deck tailored specifically for your brand, combining your unique data with their seasoned expertise.
Immediate Impact: These insights aren't just theoretical. They're actionable recommendations that can drive tangible profit for your business.
Data without interpretation is nothing.
Today’s Guest:
Chase Insogna, CEO and Founder of Insogna CPA, a licensed CPA in the state of Texas. He have built a successful business, serving clients all across the country. While many may not be aware, CPAs have reciprocity in every state, allowing Chase to work with clients nationwide without the need for additional licenses. With a team of over 20 dedicated professionals, Chase have been providing their expertise since 2011. Their unique approach combines transactional expertise with advisory coaching strategies, helping their clients navigate their financial journeys effectively.
Connect and learn more about Chase and Insogna CPA:
Website: https://insognacpa.com/
LinkedIn: https://www.linkedin.com/in/chase-insogna-cpa-cgma-4182539/
Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.
We love our podcast community and listeners so much that we have decided to offer a free eCommerce Growth Plan for your brand! To learn more and how we can help, click here:
Join our community and connect with other eCommerce brand owners and marketers!
https://www.facebook.com/groups/secretstoscalingpodcast
