Recently, someone asked Fernando how he handles his money management or cash flow management not only for his personal income but with the multiple businesses that he runs as well.
There is a great book that he would like to recommend and it’s called “Profit First” by Mike Michalowicz.
According to him, the basis of Profit First is number one, you have to take a profit. As opposed to what most entrepreneurs do they spend first and then just see if there are some profits left.
This book focuses on profit first and then compute all expenses to see how much will be placed in operating expenses. If you are not making enough to sustain what you need in the operating account then you must realize that there is something wrong with your system and you need to fix that.
There are levels of profit first and how it works is you set up multiple bank accounts for each business or for each venture even for your personal life as well. It goes all the way from a start-up that is not making any money or revenue all the way up to an F-class business that’s making $50million in real revenue per year.
If you continue watching this video you’re going to have a vivid idea of what is Profit First. Listen to Fernando as he further discusses the details of this book.
Fernando O. Angelucci is the Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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Titan Wealth Group operates nationwide sourcing off-market investment properties for Titan Wealth Group’s acquisition as well as servicing a network of thousands of active real estate investors worldwide. Prior to founding Titan Wealth Group, Fernando worked for Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues.
With an engineering background, Fernando is able to approach real estate investing with a keen analytical mindset that allows Titan Wealth Group to identify opportunities and project accurate pictures of future performance.
Fernando graduated from the University of Illinois at Urbana-Champaign with a B.A. degree in Technical Systems Management.
Titan Wealth Group was founded in 2015 with the vision of gathering individual investors that have the means to invest but lack either the time to find high-yield investment opportunities or the access to these off-market deals. All too often, founders Fernando Angelucci & Steven Wear came across investors who had deployed their capital only to regret the lack of consistency or degree of returns their investments were producing. In response, Titan Wealth Group provides access to highly-vetted real estate secured investments and off-market acquisition opportunities primarily in the Greater Chicago MSA. Today, Titan Wealth Group not only assists individual investors but has grown to support the acquisition goals and capital deployment of investment groups, private equity firms, and real estate investment trusts (REITs).
As a facilitator of wealth growth, Titan Wealth Group believes that success is not limited to the sum of our efforts and is infinite with what can be accomplished through partnership.
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