In episode #584, Eric and Neil explain why spending lavishly on business expenses is worth it. Tune in to hear what you should be spending your money on! TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Lavish Business Costs that Are Actually Worth It [00:38] Masterminds, which can cost $20,000/year, allow you to build great relationships with high caliber people. [01:22] If you have extra money, fly Business or First Class, because you can meet really interesting people who are valuable to network with. [02:35] Attend and speak at conferences. [02:49] “Brain Dates” at conferences allow you to speak to people you normally wouldn’t have the chance to speak with. [03:20] Even though they are expensive, it’s worth the splurge for the networking. [03:34] Spend a lot of money on your team. [03:45] Richard Branson told Neil, “You don’t build a big company without the team; it’s the team that makes the company. Don’t forget to take care of your team members.” [03:58] Gifts, bonuses, and perks like free lunch keep team morale up. [04:32] When you invest in your team, they will stick out the hard times. [05:15] Think about what your core values are and figure out how to help your team better their skills. [05:53] Consider nice clothes and expensive watches, which gives you the appearance of success and changes the way you are perceived. [06:22] Neil spent thousands of dollars on clothing and accessories and his business relationships improved. [07:10] Eric and Neil agree that credit card fees are worth it, because of the benefits and leeway they provide. [07:30] Spend lavishly on dinners! Take care of your guests and don’t cheap out. [08:05] That’s it for today! [08:10] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

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