Building Your Freedom Plan – Utilizing Your Practice as the Economic Engine to Freedom (Part 2) – Christopher Sands: Ep #427

We are back with the second half of my interview with Christopher Sands. (If you haven’t heard the first half of the interview, be sure to listen to episode 426 first.) Today we’ll jump into what Chris considers to be the most underutilized business metric, why it’s so important to have an understanding of taxes—even if it’s only from a high level—and more.

Listen in to hear about how the traditional financial model just doesn’t work and how Chris is building his own freedom plan B through real estate. He shares his first property investments and emphasizes the importance of paying down debt and creating cash flow as quickly as possible. This conversation is one that you don’t want to miss if you’re looking for the best way to find opportunity and growth while navigating a tricky marketplace.

Minute Markers:

1:23 – The most underutilized business metric.
2:50 – How to understand the basics of tax planning for your business.
7:12 – How there’s never enough focus on debt.
9:57 – Christopher’s first real estate investment and how he first became committed to it.
15:22 – The most important things in finance.
17:21 – What you need to be focused on in the business.
19:19 – How to take advantage of opportunity in the marketplace.

Featured on the Show:

Christopher Sands: Website
Profit First by Mike Michalowicz
Robert Kiyosaki

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Watch full length interviews on David’s YouTube channel by going to www.DentistFreedomBlueprint.com/YouTube. Don’t forget to subscribe to David’s YouTube Channel for more content on maximizing your business, wealth, and creating a financial blueprint to reach your Freedom faster!

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P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :

1. Schedule a Call with My Team:

If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least 1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.

2. Become a Full-Cycle Investor:

There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.

3. Get Your Free Retirement Scorecard:

Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.

Want to know more about David and schedule him as a speaker or podcast guest? Go to doctorphelps.com to book David now.

Power Concepts:

We focused on what we could control: our process. And we invested in the business when everybody wasn’t. That’s the advice I’d give to practice owners today for what’s to come. – Christopher Sands

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3-5% of your revenue goal should be what you invest in marketing. – Christopher Sands