This chapter describes the $1/3-1/3-1/3$ approach to profits as a good rule of thumb. What is the $1/3-1/3-1/3$ approach?

Group of answer choices

The first third of profits should be set aside to cover personal income tax obligations of the owners, the second third can be left in the business to fund growth, the final third can either be distributed to owners or left in the business.

No more than $1/3$ of the sales should come from $1$ customer and no more that $1/3$ of the business should depend on new customers

$1/3$ of owners should be subject matter experts, $1/3$ should be financial experts, and $1/3$ should be experienced entrepreneurs

No one should own more than $1/3$ of the business