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Brian Town is the CEO and founder of the award-winning marketing and branding agency,Michigan Creative.
Before founding his company, he was a teacher.
Build a Sustainable Business
Creating a business that will last can be the cornerstone of generational wealth.
Towns success with Michigan Creative is an example of how a solid business foundation can lead to prosperity.
Towns success wasnt instantaneous, but a sustainable business isnt just about immediate profits.
Its about creating a model that can withstand a changing world.
Now, 13 years later, we are generating seven figures a year, said Town.
She now runs a seven-figure med spa and owns her building.
None of this would have been possible if we both hadnt taken the leap to see what could happen.
But at the end of the day, it is all up to us.
We both have advanced degrees and can always get jobs.
But why would we do that when our familys legacy is in our hands to create?
Live Below Your Means
One of the core principles of frugal entrepreneurship is living below your means.
This involves keeping your lifestyle expenses well below your income level, even as your earnings grow.
Despite Brian Towns business success, he and his wife avoid unnecessary expenses and focus on what truly matters.
We eat at home together all the time, said Town.
Eating out is easy, but expensive and not super healthy.
This approach helps them reach their goal of achieving and maintaining generational wealth.
They also look for other ways to save money, such as bringing their daughter to work.
Frugal entrepreneurs live modestly and keep unnecessary costs to a minimum.
They look for ways to cut expenses wherever they can.
Every dollar saved can be put back into the business and into building wealth for their children.
The Town family made this kind of financial planning a priority.
All the children had Roths set up in their names when they were born.
This protects their assets and provides a clear roadmap for their childrens financial future.
We looked for long-term growth Roths and cash value life insurance plans, said Town.
For the college funds we went withMichigans MESP 529 plan.
A 529 plan is a special investment account that can be used, tax-free, for educational expenses.
Its a great way to ensure your children and grandchildren can go to college without going into debt.
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