Picture this: Early one morning Caleb was sitting down in his seat on a flight from Phoenix to Atlanta, and a friend and colleague that lived on a lake near Atlanta texted him: “You’re going to wakesurf this afternoon.” And then he had to turn his phone to airplane mode. When he packed for the trip, he had no plans to be on a boat let alone be in the water. Can you imagine the rest of that flight? He’d never even heard of wakesurfing!

Caleb is not an expert about really anything on the water, but he HAS specialized in giving advice to business owners for most of his professional life, and we want to share with you the important lesson he learned in this experience. Here’s the main idea: You don’t know what you don’t know, and that could be keeping you from substantial opportunities to reduce taxes and build wealth. You might be missing out if you don’t have a trusted guide inspiring you to bigger and better things.

So that afternoon as they headed out to the lake, he was coached on the proper form and what to expect. Surprisingly, he was up on the water on the first try, and even more startling, on his third try he felt comfortable to drop the rope and simply surf the wake. Eight hours before he didn’t even know wakesurfing was a “thing!” 

Business Owners Need a Guide Right Away

Follow us here: You know what you know. And you even know about some things that you don’t know enough about. But there are things you don’t even know that you don’t know. What do we mean by that? Yes, Caleb could Google or research how to start wakesurfing pretty easily, but first he'd have to have heard about it, want to do it, and believe he could do it. For wakesurfing, he didn’t know what he didn’t know. His guide taught him about it, inspired him to give it a try, and believed in him.

In the same way, you as a business owner may not know what specialized tax or investment strategies you’re missing out on unless you have a similar “coach” or advisor as a guide.

In your business and personal finances, you know what you know, and you inherently use what you know to your advantage. You also have a good idea of what you don’t know: you can research the topic to learn or ask someone you trust about it. However, for tax and investment strategies that you don’t even know that you don’t know...you have a real problem. And that’s what could cost you thousands, hundreds of thousands, or even millions of dollars in lost tax savings or lost investment opportunity in your lifetime.

Why a Business Owner Needs a Financial Advisor

If you are a business owner and don’t have a Financial Advisor that specializes in exclusively guiding business owners with very unique needs, then you have to ask yourself: “How much is what I don’t know that I don’t know costing me?”

Caleb had a blast wakesurfing, and had no idea how simple & easy it was. He also didn’t realize how much fun he was missing out on...that is until a good friend, colleague, and experienced boater inspired and guided him. 

Here’s what you can do right now: even if you have a rock star team with a proactive CPA, seek out a fiduciary Financial Advisor that specializes in working with business owners that will help you see new ways to reduce taxes and invest wisely so you can build wealth faster.

For important disclosure information, please visit RidgelinePrivateWealth.com/routine-disclosures