One of the major differences in Acceleration versus Accumulation is the focus on increasing your cash flow. Remember to emphasize Cash Flow over Accumulation.
Acceleration
- Cash Flow
- Reduce Risk
- Invest in yourself
- Focus
Accumulation
- Net Worth
- High Risk
- Invest in a Portfolio
- Diversify
The Balance Sheet is your assets minus your liabilities.
Equity (aka: net worth): when you have more assets than liabilities
Debt: when you have more liabilities than assets.
The Income Statement is your income versus your expenses.
Profit: when you have more income than expenses.
Loss: when you have more expenses than income.
Note: You can have losses and still have net worth or have debt and still have profit.
It’s time to retire this outdated approach and embrace the ways you can WIN with money. You can optimize your cash flow, whether you own a business or not!