In this episode of Decamillionaire Decoded, host Justin Goodbread reveals how the top 1% of financial advisors and business leaders break away from the remaining 99% by operating from an "inner world" of vision, identity, and aligned values rather than reacting to external market conditions. He breaks down why fear of failure, loss of control, and a scarcity mindset hold most professionals back. Justin introduces his actionable "4 Cs" framework - Catch, Confront, Change, and Condition - to help listeners rewire their responses, embrace calculated risks, and build muscle memory through 90-day execution cycles to scale their enterprise value beyond $10M. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of Decamillionaire Decoded, Justin addresses the critical missing link holding financial advisors back from reaching $10M+ enterprise value: personal branding. Moving beyond credentials, marketing, and analytical checklists, Justin explains why true scale requires advisors to drop their technical guard, uncover their unique personal story, and embrace authenticity. He breaks down the core architecture of branding - from establishing your vision and mission to defining values and core promises. By sharing his own journey and practical frameworks, Justin outlines how peeling back personal layers directly drives market distinction, client attraction, and long-term business growth. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of the Decamillionaire Decoded Podcast, host Justin reveals the "dirty little secret" behind the top 1% performers and decamillionaires: a willingness to fail fast and fail often. He breaks down the brutal math of success, explaining why high achievers must embrace high output and low win ratios. Justin outlines the critical "Currency Stack"—story, equity, relationships, and reputation—and shows advisors how to scale using systems, technology, and team alignment. Justin challenges listeners to abandon 30-year mindsets, reverse-engineer 3-year goals into 90-day execution plans, and embrace the reps needed to reach elite levels. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode Justin reveals why most business owners struggle to prosper: a lack of disciplined thinking. Drawing on foundational scriptures, Justin explains how your thoughts hold an inevitable trajectory toward either abundance or lack. Learn how to audit your thought life, dismantle limiting beliefs, and renew your mind to unlock biblical prosperity and scale your enterprise. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Most financial advisors rely on easy LinkedIn posts or family Facebook comments, missing out on YouTube - the ultimate client attraction tool. In this episode Justin explains why YouTube is uniquely built to make your long-form content binge-worthy and evergreen, keeping your dream clients watching for hours until they are ready to buy. Justin introduces the Trust Pyramid (Known, Trusted, Desired) and breaks down how to stop making videos about what you want to discuss, shifting instead to what your ideal client is actually searching for. Learn why you don't need fancy cameras or compliance worries, and discover the simple three-step system: Name It, Build It, Film It to turn real client questions into authentic videos that scale your firm's enterprise value. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode Justin addresses why 80% of financial advisors remain stuck in mediocrity - never breaking $1 million in revenue - and reveals the single decision required to "go pro." Drawing on pivotal advice from industry legend Rick Edelman, Justin contrasts amateur practice habits with master-level enterprise thinking. He breaks down the "Go Pro" Standard framework, an approach centered on identity, investment, and infrastructure. Learn how shifting from an advisor-first mindset to a business-owner identity, designing your calendar, and reallocating capital into marketing and team-building can double your firm's enterprise value in 18 to 36 months - all while reclaiming your personal freedom. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Many financial advisors view YouTube as stressful and time-consuming, but with just a few hours a week, it can unlock millions in revenue and enterprise value. In this episode, Justin reveals his step-by-step YouTube framework designed to turn casual viewers into ideal clients. Learn how to ditch industry jargon, craft high-converting hooks, guide your avatar with empathy, and construct simple calls-to-action that create binge-worthy content without taking on a full-time media job. DecaMillionaire Decoded Links • YouTube Video Assessment • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Stop chasing viral trends and algorithm hacks. In this episode Justin reveals why standard YouTube advice fails financial advisors and explains how to build a high-converting channel tailored for true practice growth. Drawing from his journey scaling and exiting an eight-figure RIA, Justin breaks down the "YouTube Academy" approach. Learn why broad appeal, flashy editing, and viral subscriber counts don't build enterprise value - and why hyper-targeted, problem-solving videos do. Discover the three authentic content sources you already possess so you never run out of ideas, attract your ideal avatar, and turn low view counts into massive revenue. DecaMillionaire Decoded Links • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Are you drowning in your back office ? Most financial advisors stall not from a lack of marketing, but because they spend 70% of their week trapped in non-revenue-generating administrative weeds . In this episode, Justin introduces the Leverage Grid and the game-changing One-Touch Protocol designed to reclaim five to seven hours of your workweek. By learning how to guard the gate of your time, utilize your team as "ammo," and execute flawless handoffs, you can stop micromanaging and refocus on your highest-value activities. Stop touching tasks multiple times and start scaling your practice toward a multi-million dollar valuation. DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of the Decamillionaire Decoded Podcast, Justin tackles the scaling bottleneck plaguing financial advisors making under $3 million in revenue . To break out of the daily grind and achieve true freedom, Goodbread introduces a framework mapping the eight core areas of business onto the DISC personality profile . He emphasizes that a CEO's highest-value work is finding clients and solving problems, yet most advisors dilute their hourly worth by performing low-leverage admin and operational tasks . Ultimately, scaling to a multi-million dollar asset requires shifting all beneath-pay-grade tasks to specialized A-players before finally duplicating oneself to step away from day-to-day operations entirely . DecaMillionaire Decoded Links: • Amazon: Your Baby's Ugy by Justin Goodbread • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of The Decamillionaire Decoded Podcast, host Justin Goodbread sits down with Kyle Kuyat and Jacob Gardner to discuss breaking through the "advisory doldrums" where 80% of financial advisors stall. After executing a hard reset of their independent RIA, Kyle and Jake scaled their business from just $2,400 in initial monthly revenue to an estimated $2 million top-line run rate, driven by over $1 million in pure planning revenue. DecaMillionaire Decoded Links: • DefiningWealth.com • LinkedIn: Kyle Kuyat • LinkedIn: Jacob Gardner • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Most financial advisors are trained to believe they need accountability partners, deadlines, and standard check-ins to hit their goals . In this episode Justin argues that the exact opposite is true: traditional accountability is what keeps advisors stagnant . While average advisors search for an accountability partner, top-echelon performers seek a grandmaster who can connect the operational pieces to get them unstuck and generate true momentum . DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

While most business advice focuses heavily on what you should do, true success also hinges on what you must refuse . In this episdoe, Justin states a harsh biblical reality: God will not bless what He has already cursed . When business owners fall into certain behavior patterns, spiritual and financial blessings will not follow - even if they are doing everything else right . To build a business that thrives long-term, owners must actively avoid three specific habit traps . DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Many financial advisors successfully build a practice only to realize they have created their own prison. Sitting at the epicenter of everything - handling scheduling, emails, employees, frustrated clients, and compliance - means the business has ultimately just become a demanding job. To achieve the ultimate goals of more money, more impact, and true freedom, you must eliminate perfectionism and stop acting as the operational bottleneck . DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

Most financial advisors walk into a prospect meeting relying on their presentation, credentials, and charisma to close the deal . If you are counting on the sales meeting itself to secure a new client, you have already lost . The prospect meeting is not where the sale happens; it is where the sale is confirmed . The actual conversion must be engineered long before the prospect ever steps into your office or joins your Zoom room . By architecting a proper system, you can raise your closing rate from a mediocre 30%–60% to nearly 100% . DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread tackles the common myths keeping financial advisors from growing their practices, revealing how his coaching business achieved massive scale in just one year . Justin breaks down the exact marketing framework that allowed him to onboard $106 million in new Assets Under Management (AUM) and scale his coaching business past $1 million in revenue in a single year . DecaMillionaire Decoded Links: • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread welcomes Larry Hagner, founder of The Dad Edge, for a raw and hard-hitting conversation about the personal cost of professional success. The episode centers on a profound realization Larry had 12 years ago: he had become the "monster" he swore to protect his children from. Larry shares his vulnerable story of looking in the mirror and realizing his family didn't recognize him. He explains how business owners often use work as an excuse to avoid the difficult emotional labor required to be a present father and husband. DecaMillionaire Decoded Links: • Larry Hagner on LinkedIn • Email: info@thedadedge.com • The Dad Edge Website • The Dad Edge on Facebook • The Dad Edge Podcast • Relentless Value Coaching Workshops • DecaMillionaire Decoded on YouTube

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread breaks down a major misconception in the financial services industry: the idea that word-of-mouth referrals and general networking are sustainable growth strategies. Justin argues that depending solely on referrals is a flawed system akin to simple hope, and it is the primary reason most advisors remain stuck under $1 million in revenue. Using a fishing metaphor from the Tennessee River, he outlines a 5-step strategic system that professional advisors can use to attract high-value clients and rapidly scale their practices. DecaMillionaire Decoded Links: • Million Dollar Advisor • Relentless AI Toolkit • Avatar Builder • Relentless Value Coaching Workshops DecaMillionaire Decoded on YouTube • Why 80% of Financial Advisors Never Break $1M

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread tackles the fundamental roadblocks keeping financial advisors from reaching major revenue milestones. He argues that reaching a million dollars in revenue isn't about working harder or being smarter; rather, it requires advisors to identify and completely eradicate five foundational lies that the financial services industry has drilled into them. Avatar Builder: https://relentlessvaluecoaching.com/avatar-builder-page Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread shares another powerful "God's success secret" centered around the contrasting principles of stinginess and generosity. Addressing Christian business owners, he challenges conventional social media advice and provides a framework for building a company that systematically acts as a local blessing. To move past the "stingy" mindset, Justin advises business owners to bake generosity directly into their company's operational agreements. Rather than treating giving as a sporadic, year-end afterthought, he champions consistent, systematic monthly or quarterly giving. Avatar Builder: https://relentlessvaluecoaching.com/avatar-builder-page Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread tackles a major statistical contradiction in the financial services industry: while the vast majority of advisors claim to specialize in high-net-worth clients, very few actually narrow their focus enough to achieve rapid scale. He explains to scale an advisory practice successfully, the business model must be designed entirely around a single, highly refined target avatar. Your practice's systems, messaging, and future value depend heavily on this strategic clarity. Avatar Builder: https://relentlessvaluecoaching.com/avatar-builder-page Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread explains how lack of standardized processes can cost a business millions of dollars. To prevent time waste and inefficiency, Justin introduces a proprietary "nine-element framework" designed to serve as an operating system for the entire company. Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread sits down with Matthew "Whiz" Buckley, a former Top Gun fighter pilot and entrepreneur . The conversation explores the intersection of elite military training, high-stakes leadership, and the psychological hurdles of entrepreneurship . Having started his own company, Whiz equates the intensity and discipline of the cockpit to the world of business ownership . He shares how the principles of focus and excellence from his Navy days propelled him into his current role as a business leader and mentor . LinkedIn: Matthew "Whiz" Buckley WWW: whizbuckley.com Instagram: @officialwhizbuckley Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread addresses the common struggle of the boring financial advisor and the trap of "commission breath". To reach the $10 million enterprise value mark, advisors must decentralize themselves from the business and move beyond "plain Jane" advisory roles - this requires a strategic shift in how they attract, convert, and retain clients through specialized delivery phases. Justin challenges advisors to stop chasing clients and start differentiating themselves in a crowded market . Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread sits down with Jodi Scott, the founder of Green Goo, to discuss her extraordinary journey from brewing herbal remedies in her kitchen to building a global first-aid brand, losing it all in a corporate collapse, and successfully buying it back . LinkedIn: Jodi Scott WWW: https://jodiallisonscott.com/ Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread dismantles the myth that business growth requires broad appeal and massive client volume . Instead, he argues that reaching a $10 million enterprise valuation is possible with just 100 ideal clients - provided the business is built on extreme focus and high-level service . Justin identifies that the resistance to narrowing a business focus is psychological, not strategic, rooted in loss aversion, uncertainty avoidance, and identity conflict . Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread delivers a direct and challenging message to Christian business owners regarding work ethic. He argues that while many entrepreneurs claim to value hard work, they often fall into laziness and chaos, preventing them from reaching their full potential and divine calling. Justin shares how he personally applies these studies by auditing his own business systems for sloppiness. He looks for areas where the team is "cutting corners" or delivering "good enough" rather than excellence, specifically targeting internal tracking and communication for improvement. Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread and his long-time colleague Raquel dive into the emotional and practical hurdles of transitioning from a controlling founder to a leader who empowers a team to run the firm. The conversation is a vulnerable look at what it actually feels like to step out of the driver's seat. Justin emphasizes that you don't necessarily need to hire high-priced experts to scale. Instead, the energy, values, and systems of the founder, carried out by a loyal and empowered team, are what drive a company to levels previously thought impossible. Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread welcomes Jesse Carstairs to discuss a truth that many high-achieving entrepreneurs ignore: true business success is impossible without success at home. The episode shifts the focus from balance sheets to the "home front," exploring how a leader's ego and misplaced priorities can sabotage both their legacy and their company's potential. Their conversation explores the "ego trap" that many men fall into, believing they must fight every battle alone to prove their worth. Jesse and Justin argue that a business owner can never reach their full capacity if they are fighting a "two-front war" - struggling at the office while their home life is in shambles. LinkedIn: Jesse Carstairs YouTube: The Jesse Carstairs Show Instagram: Jesse Carstairs   Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread addresses the sobering reality of the financial services industry: 90% of advisors fail within their first three years, and of those who survive, 80% get stuck in the "no-man's land" between $360,000 and $1 million in revenue. Goodbread explores why success often feels like "more money and more stress" instead of the freedom advisors initially sought. Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread interviews Richard Wilson, the founder of the Family Office Club, the world's largest investor club. Drawing from his experience working with over 7,500 centimillionaires (those with $100M+ net worth) and billionaires, Richard breaks down the mindset and structural shifts required to move from a standard business owner to an elite wealth creator. LinkedIn: Richard Wilson WWW: FamilyOfficeClub.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, Justin Goodbread addresses the "epicenter" problem - the common trap where a financial advisor is the sole driver of their firm's sales and operations. He outlines a strategic framework for building a convert phase that allows a business to scale beyond the founder's personal capacity. Relentless AI Toolkit: https://tools.relentlessvaluecoaching.com/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread takes a nostalgic yet highly practical trip down memory lane. Using the metaphor of the "DeLorean" from Back to the Future, Justin revisits core financial principles he taught years ago on his original show, Financially Simple, to see if they still hold up in the 2026 business landscape. He notes that 80% of financial advisors remain stuck under $1 million in revenue. The reason isn't a lack of information—they are already listening to podcasts and reading books—but a failure to apply the information they have through "hard conversations" with themselves. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread delivers a provocative message to Christian business owners: your money problems are rarely financial - they are almost always spiritual. He argues that issues like poor cash flow, thin margins, and a lack of clients are merely symptoms of a "root disease" caused by being out of alignment with God's principles of stewardship. Justin notes that while business owners often focus on tactical fixes (better pricing, more marketing, or hiring), these cannot fix a business if the spiritual foundation is broken. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, Justin dives into a critical but often avoided topic: fee structures. He argues that many financial advisors are sitting on tens of thousands of dollars in untapped revenue because they are operating with fee models they inherited or were told to use, rather than ones designed for the specific firm they want to build. He explains that fees are not just about how much you get paid; they are a reflection of your firm's "trusses." If your fee structure is weak or misaligned, it cannot handle the "weight of the future" as you attempt to scale toward a $10 million enterprise value. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ DecaMillionaire Decoded on YouTube: https://www.youtube.com/@JustinGoodbread

In this episode of the DecaMillionaire Decoded podcast, Justin addresses a common frustration for financial advisors: knowing exactly what to do to grow, yet resisting the very actions that lead to a breakthrough. He shares the personal secret that allowed him to scale his own RIA to an eight-figure valuation and exit in just 49 months. For advisors stuck between $1 million and $3 million in revenue, Goodbread identifies the "epicenter" problem. To reach DecaMillionaire status, the practice must be built so that the owner is no longer the primary driver of every process. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, Justin Goodbread addresses a silent killer of both business growth and personal relationships: the Email Trap. He challenges financial advisors and business owners to stop being "glorified administrative assistants" to their own inboxes and start acting like strategic CEOs. Justin points out that if you are spending hours a day sorting through CC'd emails, newsletters, and low-priority queries, you are stealing time from high-level vision, scaling, and your family. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread breaks down the exact framework he used to take a startup Registered Investment Advisor (RIA) from inception to an eight-figure valuation in just 49 months. He challenges financial advisors to move past mediocrity and embrace the systems required to achieve DecaMillionaire status -an enterprise value of $10 million or more. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, Justin delivers a wake-up call to financial advisors and business owners who are still using outdated marketing strategies. 80% of financial advisors struggle to break the $1 million revenue mark - this is usually because the owner is still acting as the primary technician rather than a strategic leader, and they lack the systems to convert prospects at scale without their personal involvement. Justin argues that the digital landscape of 2026 has rendered traditional "personality-based" marketing obsolete, and that scaling to a multi-million dollar revenue level now requires a transition from human-driven guesswork to AI-optimized systems. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread discusses a simple yet often overlooked "success secret": the power of radical obedience to God's word in business . He argues that many Christian business owners struggle with scarcity, worry, or stagnation because they treat biblical principles as abstract theories rather than practical commands to be followed without negotiation . Drawing on his decades of studying doctrine and business, Justin emphasizes that there are no shortcuts to prosperity . He asserts that if a business owner is living in a way contrary to scripture—such as failing to keep their word to others—they cannot expect divine blessing on their enterprise . Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread addresses financial advisors and business owners who feel stuck at a revenue plateau . He delivers a counterintuitive message: the very thirst for knowledge and credentials that helped build their initial success is now the primary obstacle preventing them from reaching DecaMillionaire status . Justin contends that for high-level advisors, pursuing more credentials often serves as a way to delay difficult ownership decisions . Studying feels "safe" and productive, but at higher revenue levels, it becomes a form of procrastination that replaces true leadership . Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread is joined by Dan Romer, a multifaceted leader who serves as a pastor, business owner, husband, and father of seven. They discuss how a leader's internal character and spiritual alignment are the true drivers of external business success and personal freedom. Dan explains that if a business owner sows shortcuts, dishonesty, or ego, the harvest will eventually reflect those choices. Conversely, sowing discipline and spiritual obedience leads to divine order and financial acceleration. WWW: Goshenites.com LinkedIn: Dan Romer YouTube: Dan Romer Instagram: @dan_romer_ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, Justin explores the common experience of feeling stuck in business growth . He argues that when entrepreneurs hit a plateau, it is rarely due to a lack of talent or strategy; rather, it typically stems from internal misalignment or personal lessons that have not yet been learned . Justin challenges listeners to ask themselves: "If I were a new CEO stepping into this company today, what is the first thing I would change?" . He asserts that the answer to that question is the very task the owner is likely avoiding . Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread interviews Nick Perry, a real estate entrepreneur who transitioned from a struggling startup to achieving DecaMillionaire status . The conversation centers on the underdog journey of building a massive real estate company from scratch and the unconventional decision to step away as CEO to achieve true personal freedom .  LinkedIn: Nick Perry   Instagram: @nickperryrei   WWW: 7FigureCartel.com   WWW: 8FigureCartel.com   WWW: WantToSellNow.com   Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread interviews Stephen Scoggins, an entrepreneur who built a nine-figure empire after overcoming a period of homelessness at age 22 . The conversation centers on the internal shifts required for a business owner to scale from a self-motivated founder to a strategic CEO . While at his lowest point, Stephen experienced a profound spiritual surrender that transformed his mindset . He gained a "second chance" in the construction industry, eventually building the company he successfully sold in 2023 . WWW: StephenScoggins.com   LinkedIn: Stephen Scoggins   Instagram: @Stephen_Scoggins   Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode Justin challenges the conventional wisdom that business growth is driven solely by marketing tactics or credentials . Instead, he argues that the quality of your clients is a direct reflection of your leadership posture and internal authority . Drawing on biblical wisdom and his experience scaling seven companies, Justin details how advisors and business owners can shift their internal seat to attract the premium clients they desire . Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, Justin Goodbread sits down with Dr. Lee Warren, a neurosurgeon, Iraq War veteran, and author, to explore the powerful intersection of neuroscience and faith . The conversation focuses on the idea that the mind is the ultimate driver of success and that business owners can learn to manage their minds to achieve their callings . WWW: https://wleewarrenmd.com/ Book (Pre-Order): https://wleewarrenmd.com/books/the-life-changing-art-of-self-brain-surgery/ Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin Goodbread explores a foundational "success secret" that often makes business coaches nervous: the intersection of faith and professional achievement. While typical business advice focuses on tactical elements like strategy, systems, and hiring, he argues that for business owners, these are secondary to having a right view of God. Justin emphasizes that when a business owner prioritizes this reverence and delights in God's commandments, they unlock generational blessings that extend beyond personal wealth to their children and legacy. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Contrary to popular belief, scaling a business is not a numbers game, a matter of luck, or purely about talent and strategy. In this episode of the DecaMillionaire Decoded podcast, Justin explores the fundamental difference between business owners who stay stuck in mediocrity and those who successfully scale to 10X their income and achieve decamillionaire status. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread explores why many business owners struggle to achieve significant growth despite immense effort. High-level success is not about outworking everyone, but about having the discipline to say "no" to almost everything others say "yes" to - achieve an 8-figure enterprise value and move past 10–20% menial growth by fundamentally changing how you operate day-to-day. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded Podcast, host Justin Goodbread addresses the recurring question from his audience regarding his frequent use of biblical scripture in a business context. He explores the intersection of faith and professional achievement, arguing that the Bible serves as the ultimate "guidebook" for attaining DecaMillionaire status—defined as scaling a service-based business past $10 million in enterprise value. Justin challenges listeners to stop asking why he uses the Bible and instead ask themselves if they are actually applying the scriptural principles they already know to their businesses.   Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode Justin Goodbread challenges the common misconception that scaling a business is an overwhelmingly complex ordeal. He argues that reaching $1 million in revenue, and eventually $1 million in take-home pay, is so simple to do if owners are willing to dismantle the bondage of a business that relies solely on their own 20 years of specialized knowledge. To achieve true freedom and scale, he advocates for a radical simplification: picking one ideal client, solving one specific problem, using one particular process, and offering one clear offer. By narrowing their focus, owners can sharpen their marketing and create a path where one plus one plus one leads to the ultimate payoff: freedom. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread addresses a common fear among business owners: financial transparency with their team. Justin explores why many entrepreneurs are afraid that sharing top-line revenue will lead to employees demanding more money or time off. He argues that if employees resent a company's success, the root issue is an immature culture, not transparency. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of Decamillionaire Decoded, Justin explores the unavoidable reality that "everybody pays" for transformation. He challenges the common desire for breakthroughs by explaining that growth always requires a cost—whether it is an early investment in discipline and coaching or a later payment in regret and stagnation. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded podcast, host Justin Goodbread explores the intersection of faith and business success, challenging the common frustration entrepreneurs feel when their financial results do not match their effort. Justin observes that many hard-working Christian business owners feel stuck despite their dedication to their faith and work. He argues that achieving a higher level of success requires more than just "doing everything you know to do"; it requires a relentless pursuit of a specific calling. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the Decamillionaire Decoded Podcast, host Justin Goodbread interviews Brett Swarts, an expert in capital gains tax and the founder of Capital Gains Tax Solutions. The discussion focuses on how high-net-worth business owners and investors can protect their wealth from significant capital gains taxes when exiting an asset. They cover the concept of "Building a Capital Gains Tax Exit Plan" to avoid losing 20% to 50% of wealth during a major sale . Brett shares cautionary tales from the 2008 crash, highlighting how a lack of strategic planning can lead to the loss of both wealth and family stability . WWW: CapitalGainsTaxSolutions.com LinkedIn: Brett Swarts Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the DecaMillionaire Decoded Podcast, Justin lays the foundation for a year-long exploration of "success secrets" by debunking common myths about wealth and mindset. Drawing from a personal encounter where a client attributed his success to a "Midas touch", Justin explores the delicate balance between business growth and spiritual principles. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of the Decamillionaire Decoded Podcast, host Justin Goodbread sits down with tax strategist Patrick Lonergan, founder of Vital Wealth, to discuss high-level tax strategies specifically designed for business owners striving for Decamillionaire status. Their conversation highlights that tax planning is not just about adding another zero to a bank account, but about optimizing life. LinkedIn: Patrick Lonergan WWW: VitalStrategies.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this special holiday episode, host Justin Goodbread reflects on the significance of Christmas, blending biblical history with business principles . While acknowledging that December 25th is a symbolic date, he highlights the story of the Wise Men as a lesson for Entrepreneurs . Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of DecaMillionaire Decoded, host Justin Goodbread sits down with Michael Walsh, President of the Walsh Business Growth Institute and author of Freedom by Design . With 30 years of experience, Michael discusses how business owners can navigate "danger zones"—critical revenue plateaus between $2 million and $20 million where existing structures fail and mindset shifts are required . Justin and Michael also cover how scaling radically requires moving away from controlling management styles and toward structures that support human behavior and "provoke thought" in employees . LinkedIn: Michael Walsh WWW: Walsh Business Growth Institute Book: Business Growth by Design, by Michael Walsh Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of DecaMillionaire Decoded, Justin interviews Ryan McGarghan, a fractional CFO and founder of Synergy, to explore strategies for scaling businesses to $10 million in enterprise value. Ryan explains that a fractional CFO offers high-level strategic guidance to companies that cannot afford full-time executives, typically targeting businesses with under $25 million in revenue. Learn how, as businesses mature, the focus must shift to long-term strategic planning, optimizing gross profitability, and ensuring alignment between sales, marketing, and finance departments . LinkedIn: Ryan McGarghan WWW: WeAreSynergySolutions.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we sit down with leadership expert Anton Gunn, who shares his incredible insights on building a thriving business culture. Discover the hidden costs of employee turnover, the importance of trust, and how to avoid the loyalty trap with your top performers. Anton draws from his extensive experience, including his time serving the President of the United States, to provide actionable strategies for business owners looking to foster an environment where employees truly want to stay. LinkedIn: Anton Gunn WWW: AntonGunn.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the path to achieving DecaMillionaire status with Justin Goodbread and his guest, Dr. Thomas J. Powell. Together, they discuss the essential frameworks and strategies needed to scale a service-based business beyond $10 million in enterprise value. Tune in as they share valuable insights on clarity, alignment, stewardship, and the importance of building a legacy.  LinkedIn: Dr. Thomas J. Powell WWW: ThomasJPowell.com WWW: The Founders Office Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we unpack the mindset of DecaMillionaires with Justin Goodbread as he reveals the four transformative questions that can elevate your decision-making process. Discover how shifting from a 'Can I?' mindset to 'How can I?' can unlock new opportunities and lead you to greater success.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to achieving true freedom and wealth in business with Justin Goodbread and his guest, Dr. Fred Joyal, author of the book 'Super Bold.' They discuss the importance of boldness, the steps to transition from confidence to super boldness, and share actionable insights on overcoming resistance in pursuing one's calling. Whether you're a seasoned entrepreneur or just starting out, this episode is packed with strategies to help you scale your business beyond $10 million and live a fulfilling life. LinkedIn: Fred Joyal WWW: FredJoyal.com Book: Super Bold, by Fred Joyal Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the path to achieving DecaMillionaire status with Justin Goodbread. Discover the blueprint inspired by Solomon's principles and how to build a business that thrives on wisdom, partnerships, and credibility. Justin shares powerful insights on overcoming imperfect beginnings, the importance of strategic alliances, and how to prioritize what truly matters for lasting success. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the path to becoming a Decamillionaire with Justin Goodbread and his guest, Dr. Fred Johnson. Together, they delve into the crucial leadership strategies that can help service-based business owners scale their enterprises beyond the $10 million mark. From the importance of vulnerability in leadership to the necessity of embracing change, this conversation is packed with actionable insights. LinkedIn: Dr. Fred Johnson WWW: DrFredJohnson.com WWW: InitiativeOne.com Book: The Reality of Change Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Join Justin Goodbread as he and John Mollura break down essential strategies for overcoming hesitation and taking bold action in your business. Discover the six checkpoints that can transform your approach to entrepreneurship and help you build real wealth and freedom. LinkedIn: John Mollura WWW: JohnMollura.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we challenge the myths surrounding fitness and its crucial role in achieving deca millionaire status. Join Justin as he shares practical strategies for busy business owners to integrate fitness into their lives without sacrificing time or energy. Discover how just 15 minutes of high-intensity interval training can transform your health and business performance. Plus, learn about the importance of VO2 max and cardiorespiratory fitness for effective leadership. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the contrasting journeys of two financial advisors, both generating $2 million in revenue, yet living vastly different lives. One is trapped in a cycle of overwork and stress, while the other enjoys freedom and a thriving business. Join Justin as he breaks down the mindsets, strategies, and systems that lead to true financial freedom and business value. Discover why revenue alone doesn't equate to success and learn how to build a business that works for you, not because of you. Case Study: https://relentlessvaluecoaching.com/lead-capture-form-case-study Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the powerful world of referral marketing with Mike Garrison, a master in the field. Join Justin and Mike as they dissect the misconceptions surrounding referrals, emphasizing the importance of giving and service over traditional sales tactics. Discover how adopting a mindset of generosity can transform your marketing strategy and lead to authentic connections that drive business growth. LinkedIn: Mike Garrison WWW: CanIBorrowYourCar.com Amazon: Can I Borrow Your Car, by Mike Garrison SubStack: Can I Borrow Your Car Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the surprising connection between physical fitness and financial success - discover why weight training is not just for aesthetics but a crucial strategy for enhancing your business performance and mental clarity. Justin shares insights on how building muscle can lead to higher resting metabolism, improved decision-making, and resilience in the face of challenges. Plus, he introduces the DECA Millionaire Decoded Fit Challenge, encouraging listeners to elevate their physical fitness as part of their journey to financial freedom. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover how improving your physical fitness can lead to better decision-making and greater success in your business. Justin shares seven research-backed strategies that can help you clear mental fog and enhance your leadership capabilities. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we challenge the common perception of generosity in business with Justin Goodbread. Discover why giving away your time for free may be sabotaging your success and learn how to charge for your expertise as a means of fostering transformation. Justin shares powerful insights on setting boundaries, building systems that multiply your wisdom, and the true cost of free advice. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin Goodbread unpacks the often misleading nature of success and the mental hurdles that come with it. He shares insights on the Dunning-Kruger effect, emphasizing the importance of humility and seeking expert guidance as you navigate the complexities of business. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover the five essential laws that can help you break through barriers in your business and achieve true freedom. From defining your promise to avoiding the pitfalls of rebuilding what almost broke you, Justin shares actionable insights and real-life examples to inspire your growth. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the realities of business growth and the journey to achieving DecaMillionaire status with Glenn Poulos. Join Justin as he delves into Glenn's remarkable story of resilience, navigating the highs and lows of entrepreneurship, and the lessons learned along the way. Discover actionable strategies for building wealth, creating a legacy, and the importance of being a pleasure to do business with.  LinkedIn: Glenn Poulos WWW: GlennPoulos.com X/Twitter  Instagram  Facebook Book: Never Sit in the Lobby: 57 Winning Sales Factors to Grow a Business and Build a Career Selling   Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Justin shares insights on overcoming burnout, the importance of action over analysis, and the necessity of commitment in the face of discomfort. He draws parallels to the career of Tom Cruise, emphasizing that success requires a framework and a focus on your unique path. Tune in to discover how to break free from the bondage of business ownership and build a legacy that matters. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the hidden obstacles that prevent millionaires from achieving DecaMillionaire status. Justin shares insights from his years of experience coaching service-based business owners. He breaks down common excuses that sound wise but ultimately hinder growth, such as waiting for the right time or believing that one's business is unique.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to achieving true wealth and freedom beyond financial success. Justin discusses how many business owners fall into the trap of playing it safe, mistaking caution for wisdom. He shares powerful insights on how to break free from procrastination and fear, emphasizing that real growth requires taking bold action. Discover the four ways false wisdom can paralyze you and learn how to embrace real wisdom that leads to freedom and fulfillment.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, discover the essential mindset shifts necessary for breaking through personal and financial ceilings, and hear inspiring stories of individuals who have transformed their beliefs to reach their goals. Justin emphasizes that belief precedes breakthrough and that action is essential in realizing your dreams. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of DecaMillionaire Decoded, Justin gets real. Upon learning of the death of Charlie Kirk, Justin reassessed his own truth and values when it comes to Faith, Family, Business, and Freedom. Justin lays down the FREEDOM Framework, an acrostic of guiding principles for Business Owners to follow in pursuit of a truely fulfilling life. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, discover the seven mindset traps that keep entrepreneurs from achieving true freedom and wealth. Justin shares practical strategies to help you break free from the cycle of burnout and frustration, guiding you toward a path of alignment and purpose.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Justin Goodbread shares insightful strategies on how to prioritize relationships intentionally, even during the busiest seasons of life. Discover how true friendships can help you remember your identity beyond your professional achievements, accelerate your growth, and bring joy into your life. Tune in to learn how to foster deeper connections that can support you on your journey to becoming a DecaMillionaire! Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this mash-up episode, Justin shares his insights on the mindset shifts necessary for real growth, wealth, and freedom in business. He recounts his own experiences, from starting a landscaping business at 15 to becoming a best-selling author and speaker. Tune in for practical strategies, the importance of belief, and how to simplify your business for success! Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the vital decision that can transform your business and lead you to DecaMillionaire status. Join Justin as he shares the powerful story of LEGO's turnaround, illustrating how simplifying your business model can lead to extraordinary growth. Discover the importance of focusing on your core offerings and eliminating distractions to achieve real wealth and freedom. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the transformative journey of Hugh Massie, founder of DNA Behavior, as he shares insights on the intersection of finance, behavior, and entrepreneurship. Discover how understanding human behavior can unlock financial success and help business owners break through barriers to scale their enterprises. Hugh discusses the importance of resilience, purpose, and the impact of AI on the future of business. LinkedIn: Hugh Massie WWW: DNABehavior.com WWW: Boys Without Fathers Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover how meaningful connections can propel you towards real growth, wealth, and freedom. Justin shares valuable insights on the guardrails of friendship, emphasizing the importance of challenging comfort zones, handling conflict, and celebrating each other's successes. Join us as we decode the path to building lasting relationships that support your journey to DecaMillionaire status! Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover how having a clear vision can transform your business and life, guiding you toward achieving DecaMillionaire status. Justin shares personal insights, practical strategies, and essential questions to help you define your vision and align it with your purpose. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover why building genuine relationships is essential for emotional resilience, wise decision-making, and overall growth as you strive for Decamillionaire status. Justin shares personal insights and practical strategies on how to cultivate and maintain these vital connections that can propel your business beyond $10 million in enterprise value. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the transformative power of language in achieving success with Justin Goodbread. Discover the seven words that DecaMillionaires never say and how altering your vocabulary can shift your mindset and trajectory. This is not just about business strategies; it's about the profound impact of your words on your future.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover how to align your vision and faith to overcome the common hurdles that hinder execution in business. Justin shares a powerful five-part framework that focuses on relentless execution, emphasizing that clarity of vision does not eliminate fear but confronts it. Join us as we explore the intersection of faith and vision, and how to harness them for unstoppable business growth. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this mash-up episode, we explore the journey to achieving true financial freedom with Justin Goodbred, a best-selling author and coach. Discover the powerful strategies and mindset shifts necessary for scaling your business beyond the $10 million mark. Justin shares personal stories, practical advice, and the importance of belief in reaching your goals.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Discover how silence can become your secret weapon for clarity, creativity, and effective decision-making. Justin shares insights from his interviews with DecaMillionaires, revealing how intentional solitude can lead to profound personal and professional growth. If you're feeling overwhelmed and reactive in your business, tune in to learn how to harness the power of stillness and reflection for lasting success. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to achieving true financial freedom and business growth with Scott Couchenour, a seasoned entrepreneur and fourth quarter strategy coach. Scott shares his personal experiences of overcoming adversity in his family business and provides invaluable insights into the emotional challenges business owners face during transitions. We discuss key strategies for avoiding regret, the importance of a holistic approach to life and business, and how to align your identity beyond your role as a business owner. LinkedIn: Scott Couchenour Web: ServingStrong.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

Justin explores the real meaning of success and the journey towards becoming a Decamillionaire. Through an enlightening conversation with his son, Justin shares insights on family, mentorship, and the importance of intentionality in both business and personal life.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

n this episode, we explore the journey toward achieving a DecaMillionaire status with Justin and his son Justus. Justin shares candid insights on achieving financial freedom, and the importance of family involvement in entrepreneurship. He discusses the mindset shifts necessary for success and the significance of surrounding oneself with influential mentors.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin Goodbread reveals the true meaning of success and the mindset shifts necessary for achieving real wealth and freedom. He discusses the importance of valuing your services appropriately, the distinction between price and value, and why premium clients are willing to invest in their growth. With practical insights and strategies, Justin shares how to break through the barriers that hold business owners back from scaling their enterprises beyond $10 million.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to becoming a deca millionaire with Justin Goodbread and his mother Terri, who shares invaluable insights on raising successful children. Together, they discuss the importance of intentional parenting, the mindset needed for success, and the critical decisions that shaped their family's path.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we tackle the real meaning of success and the importance of discipline in achieving financial freedom. Join Justin as he shares powerful insights on how to break free from "stinking thinking" and build the habits necessary for scaling your business beyond $10 million. Discover the ten key principles that can help you transition from chaos to clarity and create a life of overflow. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin explores the realities of scaling a business beyond $10 million in enterprise value. Discover the true cost of scaling, the importance of systems, and the mindset shifts necessary for success. Justin shares practical advice on funding growth, the pitfalls of bootstrapping, and how to leverage your business as your highest-performing asset. If you're ready to take control of your financial future and build a business that works for you, this episode is a must-listen! Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin dives into the mindset required to achieve DecaMillionaire status, sharing transformative thoughts and strategies that can propel your business beyond $10 million in value. He emphasizes the importance of confronting limiting beliefs, the power of choice, and the necessity of clarity in decision-making.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin explores the journey to Decamillionaire status with expert Monica Garcia. Discover the strategies that helped her successfully exit a competitive business and learn how to overcome the challenges of scaling your own service-based company.  LinkedIn: Monica Garcia Duggal Website: Infinitione.com MonicaGarciaDuggal.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin challenges the conventional notions of success, wealth, and obedience. He encourages listeners to reflect on their commitment to their goals, emphasizing that true faith requires total surrender. Through personal anecdotes and biblical references, Justin explores the importance of stepping out of comfort zones and fully trusting in God's plan. If you're ready to break free from fear and unlock your potential, this episode is a must-listen! Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to becoming a DecaMillionaire with Justin and his guest Judy Weber. They discuss the importance of faith, boldness, and strategic thinking in business. Judy shares her inspiring story of overcoming adversity to achieve success and emphasizes that playing small is a sin. Tune in for powerful insights on how to align your business goals with your calling and the steps necessary to achieve financial freedom and impact. LinkedIn: Judy Weber Website: www.judyweber.co Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin challenges the conventional notion of success and explores the often overlooked aspect of personal presence in the lives of business owners. He delves into the sacrifices many make in pursuit of wealth, revealing the importance of intentional connection with family over mere financial gain. Through heartfelt anecdotes and actionable steps, Justin encourages listeners to prioritize quality time with loved ones, ensuring that while they build their businesses, they do not lose sight of what truly matters. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to becoming a DecaMillionaire with guest J.M. Ryerson. Join us as we uncover the importance of self, including strength, energy, love, and freedom, in scaling your business beyond $10 million. J.M. shares his personal experiences, insights on leadership, and actionable strategies to help service-based business owners thrive. Tune in for an inspiring conversation that challenges the grind culture and encourages a balanced approach to life and business! LinkedIn: JM Ryerson Website: Let's Go Win Socials: Instagram & Facebook Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we tackle the hidden barriers that prevent business owners from reaching their full potential. Join Justin as he shares powerful insights on breaking through that glass ceiling, emphasizing the importance of releasing control and letting go of past burdens. Discover how humility and courage can lead to true freedom and growth, and learn actionable strategies to scale your business beyond $10 million in enterprise value. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the reality of achieving success beyond the $10 million mark with our guest, Kyle Danner. Join Justin as he engages in a candid conversation about the challenges business owners face, the importance of mindset, and the critical role of people in scaling a business. Discover actionable insights and strategies to help you navigate the complexities of leadership and create an environment where your team can thrive. LinkedIn: Kyle Danner Website: EOS Worldwide Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode Justin shares the seven crucial mindset shifts that every aspiring Decamillionaire must embrace to break through barriers and achieve true financial freedom. From shifting from scarcity to stewardship, to moving from hustle to focus. Justin provides actionable insights and real conversations with successful business owners.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more peopleyoutube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, we explore the journey to becoming a Deca Millionaire with Justin Goodbread as he shares his personal insights and experiences. Discover the importance of aligning your dreams with your purpose and how to overcome the internal resistance that can hinder your success. Justin discusses the transformative power of faith and the significance of perseverance in achieving your vision.

In this episode, Justin shares insights on the importance of self-care for business owners, emphasizing how protecting your personal time can lead to greater productivity and success. Discover how to manage your life both inside and outside the business, and learn about the critical steps to take in order to create a sustainable and fulfilling entrepreneurial journey. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to achieving DecaMillionaire status with expert wealth advisor Jake Falcon. Join Justin and Jake as they discuss the essential strategies for scaling your business to over $10 million in enterprise value. Discover the importance of consistency, the value of mentorship, and the mindset needed to break through barriers.  LinkedIn: Jake Falcon www.FalconWealthAdvisors.com Amazon: Retiring Right, by Jake Falcon Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the critical distinctions between merely surviving in business and thriving as a Deca Millionaire. Justin shares insights on the importance of clarity, structure, and sustainable growth strategies. Discover why grit alone is not enough and how to shift from chaotic scaling to building a business that works for you. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the incredible journey of Eric Malka, an entrepreneur who transformed his life from being an illegal immigrant to successfully selling his brand to Procter & Gamble. Eric shares his experiences, the mindset that fueled his success, and the lessons learned from failures along the way. LinkedIn: Eric Malka www.StrategicBrandInvestments.com Amazon: On The Razor's Edge Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin shares insights on how clarity, rather than time, is the key to scaling your business beyond the $10 million mark. Drawing from his experiences and those of successful business owners, Justin emphasizes the importance of understanding your goals, identifying gaps, and focusing on the critical levers that drive growth. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to becoming a Deca Millionaire with Alexis Sikorsky, a successful entrepreneur and consultant. Alexis shares his incredible story of scaling a banking software company from zero to 11 million in revenue, navigating the challenges of the 2008 financial crisis, and ultimately selling his company for a substantial profit. He discusses the importance of due diligence when dealing with private equity, the common mistakes business owners make, and the mindset shift required to achieve true financial freedom. LinkedIn: Alexis Sikorsky www.asikorsky.com Amazon: Cashing Out, by Alexis Sikorsky Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we challenge the misconceptions surrounding the sacrifices made by business owners in pursuit of success. Join Justin as he shares powerful insights from his conversation with Joe Strazzeri, emphasizing that the hard work and dedication of entrepreneurs often goes unnoticed. Discover how building a business can be an act of love for your family, even when it seems like you're absent.  Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we uncover the true essence of achieving DecaMillionaire status with guest Joe Strazzeri, a seasoned expert in guiding affluent business owners. Join Justin and Joe as they discuss the mindset, strategies, and critical questions that every aspiring DecaMillionaire must consider. This episode is packed with insights on wealth creation, family dynamics, and the importance of health and faith in the entrepreneurial journey. LinkedIn: Joe Strazzeri StrazzeriMancini.com Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin shares insights from his conversation with Jerome, emphasizing that purpose isn't something to be found but remembered. This episode encourages business owners to reconnect with their passions and redefine their paths toward true fulfillment and freedom. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of DecaMillionaire Decoded, we delve into the journey of entrepreneurship with Jerome Myers, who shares his insights on achieving true fulfillment after exiting a business. Join Justin as he and Jerome discuss the common struggles founders face post-exit, the importance of purpose, and the frameworks for finding significance in life beyond business. Discover the six critical steps to ensure your exit leads to a life of impact and joy. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/ LinkedIn: Jerome Myers www.ExitToExcellence.com Amazon: Exit To Excellence

In this episode, Justin highlights key points of his conversation with wealth advisor Nick Agarker, covering the importance of viewing the IRS as a business partner, the critical role of a competent tax advisor, and the significance of gratitude and discipline in business success. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, we explore the journey to becoming a Deca Millionaire with expert Nik Agharkar. Discover the essential strategies for scaling your business beyond $10 million and learn how to navigate the complexities of tax planning, succession, and wealth creation. Join Justin Goodbread as he engages in a candid conversation about the mindset and actionable steps needed to achieve real financial freedom and growth. LinkedIn: Nikhil Agharkar www.CrownePointTax.com https://www.justingoodbread.com/coaching/

In this episode, Justin shares insights from his conversation with turnaround advisor Paul Davis, emphasizing the importance of aligning inspiration with business goals. Discover why starting with 'why' may not be the best approach for business owners and how to focus on your divine calling instead. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode of Deca Millionaire Decoded, host Justin Goodbread sits down with Paul Davis, a seasoned turnaround advisor from Ireland. Together, they explore the journey of scaling a business beyond the $10 million mark, sharing invaluable insights and strategies that can help business owners achieve real growth and financial freedom. Paul discusses the importance of purpose over profit, the significance of mindset shifts, and the necessity of planning for an eventual exit strategy. Tune in for practical advice and inspiring stories that will motivate you to elevate your business to new heights! LinkedIn: Paul Davis Book: Genius Unlocked: Discover Your Life Purpose & Innate Genius https://www.justingoodbread.com/coaching/

In this inaugural episode of Deca Millionaire Decoded, host Justin Goodbread sets the stage for a transformative journey towards achieving a net worth of over $10 million. He shares his insights on the realities of success, emphasizing that true financial freedom is not just about accumulating wealth, but about building a scalable business that works for you. Justin introduces the concept of a Deca Millionaire and outlines the critical framework necessary for achieving this status, including relentless foundation, examination, execution, exit, and freedom. Join us as we decode the path to financial independence with actionable strategies and real-life stories from successful business owners. Learn more about Relentless Value Coaching:  https://www.justingoodbread.com/coaching/

In this episode, Justin shares a pivotal moment in his journey as a business owner and podcaster. Discover how he has shifted his focus to better serve driven entrepreneurs who are ready to break through their ceilings and achieve greater freedom and efficiency. With a new direction for the show, Justin emphasizes the importance of authenticity, clarity, and the right mindset for scaling and exiting businesses on your terms. Join him as he unveils what's next for the podcast and how it will empower you to dominate your industry! Learn more about The Value Growth Academy: https://thevaluegrowthacademy.com/learn-more

In this powerful episode, Justin confronts the challenges that come with pursuing a God-ordained vision. He explores the enemy's tactics that aim to derail our purpose and shares personal insights on how to maintain focus amidst distractions and doubt. Drawing from scripture and his journey, Justin emphasizes the importance of clarity in vision, the power of faith, and the necessity of surrounding ourselves with supportive individuals. Learn more about The Value Growth Academy: https://thevaluegrowthacademy.com/learn-more

In this episode, Justin tackles the pressing issues that business owners face when their companies become overly dependent on them. He discusses the difference between mediocrity and mastery, emphasizing the importance of building systems that allow businesses to scale without the owner's constant involvement. Learn more about The Value Growth Academy: https://thevaluegrowthacademy.com/learn-more

Justin explores the intricate world of financial planning and legacy building with attorney Kelly Sturmthal. Discover the importance of knowing your numbers, the value of collaboration between financial planners and attorneys, and how to prepare your business for future transitions. Kelly shares her insights on the emotional journey of business owners and the vital conversations that can lead to successful estate planning. Learn more about The Value Growth Academy: https://thevaluegrowthacademy.com/learn-more Kelly Sturmthal

In this episode, Justin tackles the often-overlooked concept of learned helplessness and its impact on business owners. Justin shares insights on how past failures can create mental barriers that prevent growth and success. Discover actionable steps to break through these self-imposed limitations and regain control of your business. Learn more about The Value Growth Academy: https://thevaluegrowthacademy.com/learn-more

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin tackles the pressing issue of burnout among business owners. Discover how shifting your faith from working harder to trusting your team can unlock the potential for scaling your business. Justin shares valuable insights on moving from being the chief technician to becoming a true leader, emphasizing the importance of delegation and building a strong, trustworthy team.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin explores the transformative power of saying 'No' in business. Discover how rejecting the wrong clients, minimizing product offerings, and avoiding distractions can elevate your brand and profitability.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Join Justin Goodbread as he interviews Jason Yarusi, a successful real estate investor and entrepreneur. Jason shares his incredible journey from chaos and confusion to building a thriving real estate portfolio worth over $300 million. He dives into the importance of taking small steps, eliminating negativity, and being receptive to guidance. Discover how Jason transformed his life and business through self-awareness, discipline, and actionable steps.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin Goodbread shares his transformative journey through high-stakes coaching, revealing the invaluable lessons learned during a $20,000 investment in just two days. He discusses the importance of investing in oneself for accelerated success, the pivotal role of coaching, and how to overcome personal and professional hurdles. Join Justin as he uncovers the hard truths that shaped his vision and the actionable insights that can help business owners double their income and achieve their goals.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin explores the essential mindset shifts necessary for financial advisors to escape the trap of trading time for money. Justin discusses the importance of focusing on serving one ideal client exceptionally well, the need for an abundance mindset, and the critical art of saying no to distractions and unimportant tasks.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, we explore the challenges faced by business owners, particularly in the financial advisory sector, and how to overcome them. Justin Goodbread shares five key lessons to help you clarify your vision, improve execution, and focus on the right metrics for success. Discover how to break free from the statistics that plague many advisors and learn actionable steps to scale your practice effectively.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, we dive into the critical landmines that financial advisors face while building and scaling their registered investment advisory firms. Join Justin Goodbread and his guest, Ali Nasser, as they share their personal experiences, mistakes, and lessons learned on their journeys to creating successful practices. Discover how to avoid common pitfalls, embrace growth, and develop a mindset geared towards greatness.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin Goodbread addresses the overwhelming challenges faced by business owners and financial advisors striving to double their income within a year. He emphasizes the importance of focus, setting clear goals, and the power of saying no to distractions. Discover the key strategies to overcome confusion, streamline your efforts, and achieve significant growth in your business.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Goodbread Show, we tackle the tough truths financial advisors need to hear. Justin dives into the five lies that are holding advisors back from true success, challenging them to face reality and transform their businesses. From inflated self-perceptions to undervaluing expertise, Justin lays bare the misconceptions that can cost millions. He also highlights the importance of having a coach and aligning fees with value. Whether you're a financial advisor or any type of business owner, these insights could be the wake-up call you need.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Good Bread Show, we delve into the five essential steps for business owners to streamline, optimize, and grow their businesses sustainably. Discover how to identify your main priorities, eliminate unnecessary tasks, and simplify operations before optimizing to accelerate your business's growth. Learn how to effectively automate processes to enhance customer experience and increase efficiency.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode we welcome Gresham Harkless, a dynamic entrepreneur with a decade-long journey in digital marketing. Discover the power of resilience and how it has shaped Gresham's path in the ever-evolving digital landscape. From his childhood passion for journalism to founding Blue 16 Media, Gresham shares insights on navigating the challenges of entrepreneurship.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin shares five essential truths to make 2025 your breakout year, focusing on self-improvement, embracing discomfort, and creating relentless value. Join us as we explore how to harness radical intensity and master the compound effect for unparalleled success.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this special year-end episode of the Justin Good Bread show, Justin unpacks the most impactful insights of 2024 for business owners. Discover how to build a valuable and transferable business as we explore mindset, timing, and the eight critical value drivers that can elevate your business. Learn why focusing on value can lead to increased profits, and hear inspiring stories of business transformations. Whether you're planning to sell or looking for growth in 2025, this episode is packed with actionable strategies and expert advice to help you achieve your goals.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin reveals four powerful techniques that can transform your time management, allowing you to enjoy life outside of work while scaling your business to new heights. Discover how to maximize your calendar, make every meeting count, stick to time limits, and ensure every meeting leads to a decision. Whether you're overwhelmed by work or looking to optimize your productivity, these insights will help you achieve the freedom you desire.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin Goodbread shares his extensive experience in building successful businesses and offers actionable strategies for hiring the right team members. Discover the importance of having a clear vision, mission, and values, and learn how to automate your hiring process to attract top talent. Justin also discusses the significance of the first 90 days of employment and how to ensure new hires succeed.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Goodbread Show, we explore the journey of Brian Clayton, a successful entrepreneur who transformed his landscaping business into a tech company, GreenPal, the "Uber for lawn care." Discover how Brian scaled his company, achieved financial independence, and now enjoys a life of freedom and travel. Dive into insights on building a business that can operate without you, the importance of systems, and the challenges of transitioning from a service-based to a tech-based business. Whether you're a business owner looking to exit or scale, this episode offers valuable lessons on entrepreneurship, growth, and innovation.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more peopleyoutube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Good Bread Show, we explore the parallels between high-stakes political campaigns and successful business strategies. Justin delves into five key lessons from President Trump's recent campaign victory that can be applied to business growth and success. From building a strong, consistent brand to engaging your core audience, Justin provides insights on how to lead with confidence, create urgency, and invest in the right marketing team. Whether you're a fan or a critic, these strategies offer valuable takeaways for any business owner.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin shares his journey and insights, from understanding your vision and values to identifying your ideal client, or "Frazzled Frank." Discover how to craft a unique selling proposition, develop a premium brand, and effectively allocate your marketing budget.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin shares his personal success secrets in a message to his children offering 18 proven principles for success, from setting clear goals and having a vision to embracing self-discipline and taking risks, revealing the principles that led him to financial independence and a deca millionaire status before 40.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode we challenge the conventional wisdom of business planning. Justin discusses why a strategic plan is more effective than a traditional business plan for small business owners. Discover the key differences between these two approaches and learn how a short-term, action-oriented strategy can drive value and success.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode we explore the transformative power of values in business and life. Justin shares his personal journey to success, revealing the 12 core values that have shaped his path from humble beginnings to becoming a decamillionaire. With insights on stewardship, leadership, and resilience, Justin challenges listeners to adopt these values to unlock their potential.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Goodbread Show, we turn the tables as Ali Nasser takes over the host seat to interview Justin Goodbread himself. Dive into Justin's entrepreneurial journey, from his teenage lawn care business to his success as a financial advisor and business consultant. Discover the pivotal moments that shaped his career and the principles that guide his life. This episode is packed with insights on business value growth, personal alignment, and the power of mentorship.  Website: Ali Nasser

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin sits down with Julie Keyes, a trailblazing entrepreneur and seasoned business advisor. Julie shares her journey from owning multiple businesses to becoming a certified exit planner, helping countless business owners navigate their transitions. Discover the common traits of successful business owners, the challenges they face, and the importance of having the right advisors. Julie also discusses her book, "Poised for Exit," and offers pearls of wisdom on doing what you're capable of.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this heartfelt episode, Justin dives into a deeply personal journey of reevaluating priorities and redefining success. Reflecting on pivotal moments in his life, Justin challenges listeners with the thought-provoking question: "What is your God?" He shares how a life-altering question from a friend led him to prioritize family, writing, and mentoring, resulting in profound personal and professional transformations.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin sits down with his dear friend and mentor, Gordon Bell, to discuss the highs and lows of Gordon's incredible career journey. From humble beginnings to becoming a CEO and beyond, Gordon shares invaluable insights on leadership, business growth, and the importance of having a life plan after exiting a business. Tune in to hear about Gordon's philosophy on servant leadership, the significance of having a succession plan, and how to find freedom and finish strong in both business and life.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode Justin explores the theme of "From Stuck to Soaring" and provides actionable insights for business owners looking to break free from stagnation. Justin discusses the importance of simplification, strategic focus, and aligning value propositions to drive business growth.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin sits down with Craig West, an esteemed business owner and certified exit planning advisor from Australia. They discuss the challenges and rewards of running a business, the importance of exit planning, and the transformative power of the Value Growth Academy. Craig shares his journey from being a dissatisfied bank employee to founding a successful consulting firm and software company that helps business owners maximize their value and prepare for exit.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin delves into the critical importance of focusing on value growth for business owners. Using relatable anecdotes and practical insights, Justin explains why value growth should be the primary focus and how it can drastically affect the future of a business. He breaks down the concept of intrinsic value, the value gap, and offers actionable strategies to increase the value of a company.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin sits down with Mark Kravietz, a managing partner at Aline Wealth, to discuss the intricacies of exit planning and the importance of financial coaching for business owners. Mark shares his personal journey, and offers invaluable advice on preparing for a successful business exit. They delve into common mistakes business owners make, the significance of setting goals, and the critical role of financial advisors as coaches.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Is your business stuck in a rut? Join Justin as he shares invaluable insights on how to break through the barriers holding your company back. In this episode, Justin delves into the concept of 'divide to multiply,' using the metaphor of his blackberry patch to illustrate how pruning unprofitable clients and focusing on your most profitable areas can lead to exponential growth. Learn how to reengage old clients, streamline your offerings, and prepare your business for future success.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin sits down with Dr. Tom Deans, a renowned speaker and author on the subject of family business transitions. They discuss the complexities of passing down family businesses, the importance of selling businesses at full market value, and the pitfalls of keeping wealth concentrated in a single, illiquid asset. Dr. Deans shares his personal journey and the lessons he has learned from running and selling multiple family businesses.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin delves into the critical reasons why business owners often feel trapped and unable to achieve the freedom they desire. He shares his personal journey and the lessons learned from 30 years of business experience. Justin outlines six key areas that can hold a business back, including cash flow management, misaligned products and market, centralization around the owner, sacrificing quality for scale, operational inefficiencies, and a lack of innovation. He offers practical advice and actionable steps to overcome these challenges, helping business owners unlock the freedom they seek.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin sits down with Ali Nasser, a passionate entrepreneur and wealth management expert, to explore his incredible journey and the valuable lessons he's learned along the way. Ali shares his insights on building a scalable business, the importance of focusing on your strengths, and the challenges of managing a team. He also discusses his unique IP system for business owners and his book, "The Business Owner's Dilemma." Don't miss this inspiring conversation!  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode of The Justin Goodbread Show, we delve into the critical mistakes that can destroy the value of your business. Justin shares eleven common pitfalls that business owners often fall into, from neglecting financial management to poor leadership and failing to innovate. With practical advice and actionable insights, this episode is a must-listen for anyone looking to safeguard and grow their business. Don't miss out on learning how to avoid these costly errors and take control of your company's future.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode Justin delves into the four key traits that define highly effective business owners. From emotional intelligence to relentless execution, decisive leadership, and visionary thinking, Justin shares invaluable insights drawn from his 30 years of coaching and consulting with top CEOs. Tune in to learn how to foster a positive work culture, execute your vision with precision, make swift and confident decisions, and inspire your team towards unprecedented growth.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode we delve into the heart of scaling your business with five proven marketing strategies for 2024. Justin shares his 30 years of experience and insights on how to conduct a competitive analysis, define your brand, conduct thorough market research, set clear marketing goals, and understand your client avatar. These strategies are essential for any business owner looking to scale and differentiate their business in a competitive market.  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Are you feeling stuck in your business? In this episode Justin dives into the four main reasons why businesses stop growing and provides actionable strategies to overcome these challenges. From developing a solid strategic plan to improving leadership and streamlining operations, this episode is packed with practical advice to help you reignite your business growth.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call We sit down with Ryan McCaslan, an expert in quality of earnings, to discuss how to prove your business's value and prepare for a successful exit. Ryan shares invaluable insights on normalizing financial statements, common pitfalls to avoid, and best practices for increasing your company's worth. Whether you're planning to sell soon or just want to build value, this episode is packed with actionable advice you can't afford to miss.  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin Goodbread reveals the five ways the enemy tries to sabotage your ability to create lasting wealth. From distractions and discontentment to division, pride, and anxiety, Justin dives deep into each tactic, providing insights on how to guard against these attacks. Learn how to stay focused, content, united, humble, and anxiety-free to ensure your journey to wealth creation is successful.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, Justin Goodbread shares ten essential habits for business success that he has developed over his 30-year career. Learn how goal setting, continuous learning, customer focus, personal financial constraint, time management, encouragement, leadership, networking, health and wellness, and resilience can transform your business and personal life. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Are you ready to take your business to the next level? In this episode, Justin Goodbread reveals the four key metrics that every business owner must track to build a $10 million business. Learn about Net Promoter Score, Customer Acquisition Cost, Cash Flow from Operations, and EBITDA. With over 30 years of experience and having sold companies for more than $10 million, Justin provides actionable insights and practical advice to help you scale your business. Don't miss out on these invaluable tips. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call In this episode, we dive into the journey of John Rogers, a successful dentist and business owner from East Tennessee. John shares his inspiring story of taking over his father's dental practice, the challenges he faced, and the strategies he employed to build a thriving business. From dealing with family dynamics to finding the right mentors and coaches, John offers valuable insights for business owners at all stages. Join us as we explore the importance of passion, the power of mentorship, and the critical decisions that can shape your business's future. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Ready to scale your business to new heights? In this episode, Justin Goodbread shares his seven-step blueprint for building a $10 million business. With insights from his 30-year entrepreneurial journey, Justin covers everything from embracing modern technology and building a dynamic sales team to crafting a detailed marketing plan and prioritizing customer experience.  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Are you unknowingly sabotaging your business success? This week's podcast episode is a wake-up call for every entrepreneur. Join Justin Goodbread as he exposes the ten costly lies he believed as a business owner—misconceptions that led to a staggering financial loss. From the dangers of going it alone to the underestimated power of marketing, this episode is packed with eye-opening insights and actionable advice. Don't let these common lies hinder your growth. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Embark on a transformative journey with Justin as he reveals the blueprint to building and selling a multi-million-dollar business. With a track record of successful exits, Justin shares his personal roadmap through the five critical stages of business growth, guiding entrepreneurs from the initial launch to a lucrative exit. If you're aiming for a seven, eight, or even nine-figure sale, this episode is your masterclass in value creation and strategic planning.  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Discover the five game-changing lessons that propelled Justin Goodbread to deca-millionaire status in our latest episode. From obsessing over customer value to mastering financial discipline and building a strong team, these insights are crucial for anyone looking to scale their business. Plus, learn why focusing on value over profits can make all the difference. Don't miss out on these valuable strategies – tune in now to elevate your entrepreneurial journey! Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Are you harnessing the full power of your thoughts to drive your business forward? In this episode, Justin shares invaluable insights into how the words we speak to ourselves can make or break our success. Discover five game-changing strategies to shift your mindset and unlock your potential.  Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Are you feeling the strain of disengaged employees? You're not alone. Join Justin as he tackles the number one frustration for business owners head-on, diving deep into the art of aligning your team's aspirations with your company's vision. Discover how to turn employee engagement from a challenge into your greatest asset. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Are you ready to elevate your business decisions from good to great? In this episode Justin shares a ten-step blueprint for making choices that can lead to monumental success. Discover how to align your decisions with your vision, seek wise counsel, and listen to your internal prompting to navigate the hundreds of choices you face every day. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call     Have you ever wondered why some entrepreneurs seem to effortlessly achieve their dreams while others struggle to make progress? The answer, as it turns out, might be simpler than you think. In the latest episode of the Justin Goodbread show, we delve into the power of one small but mighty word: goals. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Are you ready to redefine what it means to be wealthy? Join us on an enlightening journey with Justin Goodbread as he shares the secrets to mastering not just financial success, but also social, time, physical, and spiritual wealth. In this transformative episode, you'll learn the difference between being rich and being truly wealthy, and how to align your life's purpose with a wealth strategy that encompasses more than just money. Don't miss out on this opportunity to elevate your approach to wealth and success. Listen now and take the first step towards a richer, more fulfilling life. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call     In this episode, Justin delves into the profound impact of having a clear vision, the necessity of discipline, and the urgency that a limited timeframe can impose on achieving our goals. Justin explores the wisdom of Tim McGraw's song "Live Like You Were Dying," the lessons from personal loss, and the strategies to define and pursue your vision with relentless discipline. Tune in to transform the way you approach your aspirations and lead with purpose. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more peopleyoutube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching:https://justingoodbread.com/call   Persistence is the driving force that sets successful business owners apart. It goes beyond talent, genius, or education, and it is the key to achieving your goals in the entrepreneurial world. For middle-aged, educated business owners who may feel weary and disheartened, understanding the true nature of persistence is crucial. It's not just about keeping at something; it's about unwavering determination to achieve your objectives, even in the face of obstacles. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors. Advertiser Disclosure: Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Have you ever wondered how some business owners can seemingly produce 10X or 20X more than their competition? You may have heard people ask, "How do you manage to do all that you do?" The reality is that we are all given the same 24 hours a day. However, the rich and successful business owners seem to possess a unique ability to create multiplicative wealth that appears almost unfair. This article will delve into one of their secrets – the art of delegation. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people/ https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   To "think big" means to have a mindset and approach that is characterized by ambitious, expansive, and visionary thinking. It involves setting high goals, envisioning significant achievements, and refusing to limit oneself by conventional or mediocre thinking. Are you limiting your success with small thinking? It's time to expand your horizons! In our latest episode, Justin Goodbread shares the 'weird' secrets of wealthy business owners and how you too can adopt a mindset of abundance. Discover the art of setting ambitious goals, embracing risk, and protecting your mind from negativity. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

In recent years, the allure of entrepreneurship has become a prevalent trend. The idea of being your boss, shaping your destiny, and pursuing innovative ideas has never been more enticing. Yet, beneath the glossy exterior lies a harsh reality. According to statistics, only a fraction of businesses thrive, while many face the grim possibility of failure. In this exploration, we delve into the question that underlies it all: Is entrepreneurship the right path for everyone?   Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more peopleyoutube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call   Fear and anxiety are two powerful emotions that every human experiences at some point in their lives. They can be our allies, warning us of danger or helping us prepare for challenges. However, they can also become formidable foes, holding us back from pursuing our passions and desires. In this episode, we'll embark on a journey through the intricate workings of the human mind to understand how fear and anxiety are processed, how they manifest in our lives, and most importantly, how to overcome them. Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

SUBSCRIBE TO MY YOUTUBE CHANNEL - so this show can reach more people https://www.youtube.com/@JustinGoodbread Book a strategy call to see if you're a good fit for coaching: https://justingoodbread.com/call Justin Goodbread, host of the Financially Simple podcast, reflects on his 30-year entrepreneurial journey and contemplates the true meaning of success and wealth. He concludes that it's not just about financial achievements, but about fulfilling God's purpose for your life. He announces a relaunch of the podcast with a new mission: to encourage, inspire, and educate business owners to achieve their "aspirational dream." Key points: • Justin recounts both the highs and lows of his entrepreneurial journey, including business exits, financial freedom, and personal struggles. • Are the traditional definitions of success and wealth complete. • The unique purpose for each person's life and ways to pursue it. • The relaunched podcast will focus on inspiring and educating business owners to achieve their aspirational dreams. • The importance of overcoming fear and anxiety to reach your full potential. • The role of knowledge, wisdom, and a growth mindset in achieving success.
 Thank you for joining us today. We hope you found encouragement, inspiration, and valuable insights as you pursue your vision and dreams. The greatest appreciation we could receive is if you share this episode with a fellow business owner. Remember, The Justin Goodbread Show is a Financially Simple production, meant for educational and entertainment purposes. For personalized advice, please consult your professional advisors.

Friends, when I began this venture, I never thought I'd be celebrating such a milestone. The past five years have been such a humbling experience. I'm honored that so many of you have chosen to come along for the ride. It is so rewarding to know that you've entrusted me with guiding you through the complex world of business and finance.    Now, here we are, celebrating 500 shows! It never could have happened without you. So, join me as I look back on this journey and highlight some of the important lessons I've learned along the way! This week on The Financially Simple Podcast:    (02:12) I had a dream… (05:43) You don't have to be perfect, just passionate (08:11) Hire people who are smarter than you (11:26) Success comes from perseverance (19:30) Don't be afraid to invest in a dream (22:33) Be authentic (26:01) You're gonna reap what you sow (30:49) What do you want to do?   Our Favorite Quotes:  "We, as business owners, have such an opportunity to speak life into people, to love people, to encourage people by just being who we are." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests. Statements made in this podcast are subject to change without notice. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As entrepreneurs, we often discuss our busy work schedules as though they are a badge of honor. While it's true that owning a business requires a tremendous amount of time and effort, we must be careful not to neglect the other aspects of our lives. Each of us has (or should) areas of our lives that are important to our ethos. Pouring all of your time and energy into your business will inevitably mean that you're neglecting the other core parts of your life. In this episode, I discuss the importance of prioritizing your schedule. Whether it's faith, family, or even your own health, you must work on each area with the same intentionality that you do for your business. I'll also share some practical tips for making dedicated time for the non-negotiables in your life. This week on The Financially Simple Podcast:  (00:56) Block scheduling for efficiency (02:49) Should your business be the most important part of your life? (06:15) The three big rocks (10:34) Efficiencies and boundaries (13:01) Some simple rules (15:40) Scheduling lessons learned from the COVID closures (17:13) Pause and "calendar" your life this year   Our Favorite Quotes: "Schedules across multiple different types industries can reflect that we as business owners, often easily, place the business ahead of the big rocks in our life." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Most of us started out in business because we had an idea or product to help people. However, the majority of us didn't start off as business experts. Although you may have a successful business, knowing how to turn that successful business into a valuable commodity can be challenging. In this episode, I wrap up the Eight-Figure Exit series with a brief recap of the things we've discussed. I explain why I chose to speak directly to financial advisors, and how the information shared is still applicable across most industries. If you're a business owner who will one day retire (that's all of us), you don't want to miss this episode!   This week on The Financially Simple Podcast:  (01:53) Eight key components (02:22) Why I chose to speak directly to financial advisors (03:00) Planning (04:24) Leadership (07:25) People (09:00) Operations (11:37) Sales (13:04) Marketing (13:42) Finance (14:42) Legal   Our Favorite Quotes:  "Whenever it comes to the eight-figure exit, perhaps, there's nothing more impactful than the operations of your company." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Marketing is one of the eight key areas in business that can directly influence the intrinsic value of your organization. But how can you optimize your RIA's marketing so that it can help you achieve your dream of an eight-figure exit?   In this episode, I discuss some of the indicators you can track to determine whether your marketing strategy is truly effective. Similarly, I explore some of the metrics that let you look at how each individual strategy is performing as part of your overall plan. If you've ever wrestled with marketing, don't miss this episode!   This week on The Financially Simple Podcast:    (00:50) Optimizing your marketing (02:02) Referral marketing (04:05) Seminar marketing & community involvement (09:01) Content marketing (11:23) Analyze each category's performance individually (12:56) What should you track? (18:27) What is funneling? (23:24) Common marketing pitfalls in RIAs   Our Favorite Quotes:  "The key is to optimize your marketing specifically for your practice, specifically for your clients, specifically for your personality." - Justin Goodbread   "You want to use data to drive us toward the efficiency of our marketing dollars. We want to achieve the best results!" - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As business owners, we understand that marketing to attract new clients is necessary. But have you ever considered the important role that marketing plays in retaining existing clients? Through effective internal marketing, you can improve customer stickability and prevent clients from exiting through the back door.   In this episode, I dig into the critical role internal marketing plays in preparing your organization for the eight-figure exit. Additionally, I discuss the importance of tracking the client experience and helping them to achieve their purpose. This week on The Financially Simple Podcast:    (01:01) What is customer "stickiness"? (03:56) How do we create stickability? (05:41) The populist approach (08:30) Internal marketing doesn't have to be stale and boring (09:55) Recognize and celebrate your clients (11:39) People never forget how you made them feel (16:47) Tracking & communicating client experiences (20:01) A three-step process   Our Favorite Quotes:  "I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As business owners, it's often tempting to work with any and everyone. After all, more clients means more money. Right? In service-based businesses, the reality is that taking on every client that walks through your door can lead to major inefficiencies.    In this episode, I discuss the value of niche marketing and how becoming more exclusive could be the key to growing your RIA for the eight-figure exit. I also explain how to identify when it might be time to explore your niche and provide helpful tips for making the transition. This week on The Financially Simple Podcast:    (00:46) My very first client (01:49) How do you know when to begin working with a niche? (06:31) The biggest stressor for financial advisors (08:20) The business is bogging you down (11:30) Sell to the masses; eat with the classes (13:32) Choosing a niche (17:06) Get the right people on the bus (19:33) Two ways nicheing can impact your business (23:00) Making the transition (25:38) The Four-Second Rule (28:31) My own experience with being part of a company's niche market   Our Favorite Quotes:  "Sell to the classes; eat with the masses. Sell to the masses; eat with the classes." - Henry Ford   "As we're going toward this eight-figure exit, if we have this hodgepodge of clients, we're not going to get the efficiency of scale that we desire for the eight-figure exit." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

The end of the year provides business owners with a unique opportunity to evaluate their progress toward their goals and reflect on the accomplishments of their teams. It is also the perfect time for RIAs to work through their annual compliance checklists. As you prepare for the coming year, ask yourself, "What worked this year? What didn't? What actions can we take in the coming year to push the needle further toward the eight-figure exit?" In this episode, I look at the importance of an end-of-year checklist, and some of the items that it should include. A few of my checklist items could surprise you, but I feel they are critical to sustainable success. You don't want to miss this episode, friends! This week on The Financially Simple Podcast:  (00:41) Tempus Fugit (02:19) Celebrate the Wins (03:54) The CEO and the Receptionist (06:09) Financial Review (09:18) Will Your Current Goals Continue Into the New Year? (12:05) Annual Compliance Review (14:04) Rest & Reflect Our Favorite Quotes: "Rest is not the absence of performance. It's part of performance." - Brent Cassell, VP of the HR group at Gartner About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Marketing often frustrates us, as financial advisors. We don't always see an immediate return on our investment. Additionally, when hiring a marketing firm, the costs can quickly escalate well beyond what we intended to allocate. Frankly, this "all or nothing" approach and our limited understanding of marketing can leave us feeling a bit disheartened. It doesn't have to be this way! In this episode, I discuss the important role a documented marketing strategy has on your overall satisfaction with your marketing return. I'll also talk about some of the ways you can start small, and gradually grow your marketing spend. Finally, I explore how you can prepare your firm for the influx of new clients your marketing efforts attract.   This week on The Financially Simple Podcast:  (01:25) Declining satisfaction  (03:19) Some questions to think through (05:24) The Power of a defined marketing strategy (09:27) Beware of the "all or nothing" mindset (11:50) The value of content marketing (14:10) Protect your reputation (16:05) Navigate toward the industry norms   Our Favorite Quotes:  "Marketing is not simply one dollar in, one dollar out." - Justin Goodbread   "Business owners that I've communicated with, now, for twenty years, perhaps even you yourself, often feel like it's an all-or-nothing game." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Oftentimes, as business owners, we take a wrong view of marketing. Because it isn't foundational to the operation of our businesses, we view marketing as a luxury. However, if we see it for what it truly is—an investment—we can finally begin to measure the return on our marketing investments.   In this episode, I discuss how you can maximize the ROI for your RIA firm's marketing investment, paving the way for the eight-figure exit. Additionally, I'm going to explore the quantifiable and unquantifiable aspects of marketing, and how a holistic approach yields the results that we often desire. This week on The Financially Simple Podcast:    (00:50) Business Owners See Marketing As a Luxury (02:55) The "Basics" Around Marketing (04:27) Two Key Metrics (07:03) Calculating a Break Even Point for Your Marketing (11:11) How Much Money Should You Spend On Marketing? (14:20) Are Your Marketing Efforts Increasing Your CLV? (17:22) The Unquantifiable Aspects of Marketing   Our Favorite Quotes:  "Most other industries spend a great deal more than 5%. The RIA industry has been fortunate that we have had the market growing a lot of our revenue over time, and it's caused us to become complacent."  - Tim Kochis, DeVoe Special Advisor   "If you look at your marketing spend as, truly, an investment, then we can track ROI. We can quantify it." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Whether you realize it or not, you likely have some form of intellectual property (IP) in your Registered Investment Adviser (RIA) firm. It could be a system or process that you've developed to help you run more efficiently. Or, perhaps, you have a service offering that sets you apart from the competition. Whatever it may be, your intellectual property is a valuable asset. But is it protected? In this episode, I'm looking at the incredible impact your IP could have on the multiple for your company. Likewise, I discuss the different ways to protect your IP and preserve (or even increase) its value for the eight-figure exit. Whether you're a financial advisor, or operate within a different industry altogether, this is one episode you can't afford to miss. This week on The Financially Simple Podcast:  (02:11) How Value Is Created (05:00) A Powerful Tool In the Exit Planning Process (06:03) What Is Intellectual Property? (08:00) Common Forms of IP Protection (10:00) Trade Secrets (13:44) Businesses Often Invest In IP (16:01) The "Secret Sauce" (19:38) How Do You Protect Your IP? Our Favorite Quotes:  "IP matters. But, unfortunately, very few business owners ever take the time to even present the IP; much less protect the IP." - Justin Goodbread "Over and above the underlying product or service it protects, IP is a valuable asset in its own right. Indeed, it can become a company's most valuable asset." - Julian Crump, President, International Federation of Intellectual Property Attorneys About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Owning a business is a risky endeavor. This is especially true in the RIA space which is heavily regulated. From civil actions to punitive actions taken by regulating bodies, litigation can be damaging to your business and reputation. So, what should you do if you find yourself facing litigation during your eight-figure exit?   In this episode, I look at some of the measures you can take to mitigate the risk of litigation. Additionally, I discuss ways to disclose pending, past, or present litigation to prospective buyers so that you could still make the ultimate sale. Whether you're a financial advisor or operate in a different industry; whether you're in the midst of an exit, or years away, this is one episode you can't miss! This week on The Financially Simple Podcast:    (01:24) Industry-Specific Risk (05:07) The SEC Litigation Release (08:03) Two Areas You Must Separate (12:19) How Do You Deal With Litigation During the Eight-Figure Exit? (14:47) Representations & Warranties (15:41) Disclosure Schedules (18:56) What Are the Best Action Steps You Can Take? (21:57) Read Your Contracts   Our Favorite Quotes: "The reality is, anything you attempt to hide from the prospective buyer will be discovered during the due diligence process."  - Justin Goodbread   "If you're open and honest with the buyer about litigation or pending litigation, there's many things that can be done to still help carry the deal through and consummate the deal for your eight-figure exit." - Justin Goodbread   Related Links:   Litigation Releases | U.S. Securities and Exchange Commission Statistics | FINRA.org About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In this episode, I'm discussing risk mitigation. More specifically, I'm going to look at the insurance coverages you need to have as an RIA owner. Now, I know insurance may not be the most fun topic, but it is important and it could significantly impact the value of your business. So, don't tune out!  I'll be covering increases to your required coverages and the core coverages you should have. However, I'll also discuss how your firm's legal entity could work to mitigate potential risks to you, as the owner. Finally, I'll explain how each of these components can affect your eight-figure exit. The information I'm sharing today can't be missed, regardless of the industry your company operates in!   This week on The Financially Simple Podcast:  (02:00) Defining risk management (04:15) Advice policies you should carry as an RIA owner (08:52) Core business policies you should carry as a business owner (12:34) Cybersecurity insurance (14:12) Business Disruption Policy (16:11) Your business entity (18:14) C-Corporations, double taxation, and the eight-figure exit (21:52) When should you review your coverages? (23:13) Exit planning is good business planning   Our Favorite Quotes: "The type of entity we are will directly impact the exit—style, quality, value, etc.—as we drive forward." - Justin Goodbread   "We don't know what tomorrow holds. Insurance is not our enemy; it's our friend. The business entity selection is not an enemy; it's an asset that helps us drive the value of our main asset… the business." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As a financial advisor, it can be easy to forget that sales and marketing are part of what we do. We understand that we have to attract new clients in order to grow our book of business. However, we may not always realize that we're selling our firm and our services when we engage in an initial "getting to know you" phone call. The truth is, as RIA owners (and business owners in general), we don't always see ourselves as salespeople. Likewise, we don't always have a strong grasp of how marketing and sales work together to drive revenue growth.   In this episode, I'm taking a deep dive into synergizing marketing and sales within your RIA so you can achieve the eight-figure exit. I'll discuss how data points like Customer Lifetime Value (CLV), break-even assessments, and churn rate can be used to create synergy in your sales and marketing departments, enabling you to grow your firm organically.    This week on The Financially Simple Podcast:    (00:55) Common sense definition of marketing (02:44) The brass tacks of sales and marketing (04:27) Some key metrics (08:34) Factors that impact your churn rate (12:38) What is your break-even point? (14:14) Marketing doesn't work in a straight line (17:27) Create a feedback loop   Our Favorite Quotes:  "If you can tie your sales team, your marketing team, and everybody involved, if you can tie those together, then every data point shows you can drastically improve the growth rate of your company." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Sales projections are important to your organization's goal identification and planning. But have you ever considered what your sales projections can tell you about the health of your Registered Investment Adviser (RIA) firm?  In this episode, I discuss the significance of the data that informs your sales projections. Likewise, I explore how you can use your sales projections to measure your firm's performance against industry benchmarks, determine future hiring needs, and more! This week on The Financially Simple Podcast:  (01:35) How your sales projections can help you (03:05) What is a sales projection? (05:05) How do we calculate run rate? (08:43) Two key data points (09:33) Estimated future sales (14:16) Average Assets Under Management (AUM) (16:42) A word of caution   Our Favorite Quotes: "In order to affect the future, we must disturb the present. In order for us to grow something that is best-in-class, we have to do things that our peers who are average, are not willing to do." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In the early stages of your Registered Investment Adviser (RIA) firm, it made sense to work with anyone who could fog a mirror. But as your firm grows, many of the clients that you served in the beginning may not offer your business the same value they once did. As a result, these clients can chip away at your firm's efficiencies, preventing you from gaining ground on your journey toward the eight-figure exit. In this episode, I discuss the power of saying, "No" to clients who are the wrong fit for your RIA. This tiny word is one that, as business owners, we don't often like to say. However, embracing the power of no could increase your bandwidth, enabling you to say yes to the clients who can truly help drive you to the exit of your dreams.   This week on The Financially Simple Podcast:  (00:42) The eight-figure exit requires the correct client base (03:27) Business constraints (05:56) The Pareto Principle and Dunbar's Number (09:50) Learning the power of "No" (12:47) Reasons we "outgrow" particular clients (15:14) RIAs don't scale the way other businesses do (17:30) Disqualifying bad fits (25:23) Segment your book of business (31:25) A question to consider (36:31) C-listers typically refer C-listers   Our Favorite Quotes: "The eight-figure exit requires the correct and the right client base." - Justin Goodbread  "The more often it is that you say, 'No' to the wrong clients, it will ever shine a light on those clients that you want to say, 'Yes' to." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you're working toward the eight-figure exit, you can no longer be the top producer in your firm. This means "firing" yourself. But how can you step away if doing so will cause a decline in your sales production? In the previous episode, I gave you some homework. After digging into your firm's data points, did your company align with the industry averages? Were you surprised by what you found? In this episode, I'm picking up where I left off, and giving you four tools to help you create scalable and repeatable sales processes that enable you to fire yourself so you can achieve the eight-figure exit. This week on The Financially Simple Podcast: (0:13) Part one recap (3:06) How do you maintain momentum in your absence? (3:57) Sales tracking (11:26) What are we going to track in the process? (14:30) Lead analysis (22:55) How do you improve prospect data? (27:25) Removing bad prospect data from your system   Our Favorite Quotes:  "In order for us to decentralize, we have to, often, fire ourselves as the chief producer" - Justin Goodbread "If we can build prospecting data to where we get what we need, then we can drive our team to success." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Sales is the lifeblood of every business. In order to grow, you must attract new clients and gain new revenue. As the owner of your RIA, you're likely the top producer in your firm. However, this is anathema to the eight-figure exit.  In this episode, I discuss why you must fire yourself, making way for new top producers to emerge. In doing so, you can decentralize and reduce your company-specific risk. I'll explain the metrics you need to monitor to ensure continuity once you're no longer pulling all the levers. Likewise, I look at how firing yourself could enable you to meet or exceed industry standards. If you're an RIA (or any other type of business) owner, you can't afford to miss this episode! This week on The Financially Simple Podcast:    (0:38) Why are you the top producer in your RIA? (1:33) A foreign concept (3:06) Decentralization from the sales process is a necessity (4:51) Multiplicative growth (5:53) The ability to meet or exceed industry standards (6:41) The day I decided to fire myself (10:31) How do RIAs perform (Benchmarks to follow)? (18:01) Context matters (22:37) Questions to ask yourself   Our Favorite Quotes:  "In order for us to exceed the (industry) standards, we have to empower our team." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Over the past few years, business owners have been through the wringer. From lockdowns to the Great Resignation, simply going to work has presented a much larger challenge than it did in the past. As a result, attracting and retaining great talent has become more important than ever. So how can you achieve this in your RIA? In this episode, I talk about the importance of employee incentive programs and the many different ways to show your team that you appreciate their loyalty and hard work. Likewise, I discuss 10 steps you can take to design and implement an employee incentive program to fuel your eight-figure exit! This week on The Financially Simple Podcast:  (1:45) Attract, engage, and retain talent (3:35) Incentive programs can drive profitability (5:13) How does an incentive plan tie into the eight-figure exit? (6:31) What should be included in your employee incentive program? (7:33) The importance of recognition and bonus pay (12:03) Ten easy steps (21:26) Something I've never seen in business before Our Favorite Quotes: "One of the very first things we identify with an incentive plan is that it's there to attract, to engage, and to retain talent." - Justin Goodbread "Recognition helps the employee see that your firm or your business values them for all their contributions and successes as part of the team." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Business Advisors, LLC. Business planning services offered and provided by WealthSource Business Advisors, LLC. WealthSource® is the marketing name for a group of financial services companies composed of WealthSource Business Advisors LLC, WealthSource Partners, LLC, and WealthSource Insurance Solutions LLC. Each company has financial responsibility only for its own products and services and is not responsible for the products and services provided by the other companies. All companies are subsidiaries of WealthSource Holdings, Inc. This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

For many of us, compliance can seem like a dirty word. Too often, this necessary aspect of your RIA is seen as "anti-sales" or as being against advisors. However, compliance plays a vital role in protecting you and your clients. So, how can you develop a compliance department that is both effective and efficient? In today's episode, I discuss how you can integrate compliance practices with your daily operations. Additionally, I will look at the risks associated with non-compliance. Finally, I will provide practical tips for creating tools that can eliminate compliance bottlenecks and mitigate risks to your firm and your clients.   This week on The Financially Simple Podcast: (0:52) Why do financial advisors cringe at compliance? (2:50) What types of compliance risk might you have? (4:08) The repercussions of non-compliance (5:18) Test your processes and team for weaknesses or holes (7:40) Create a compliance calendar (9:44) Develop a ticketing system (11:55) Build processes and structures for your compliance department (14:02) Integrate compliance with operations   Our Favorite Quotes:  "If you do it right, the operational flow of your business can actually be a first line of defense to make compliance less burdensome." - Justin Goodbread "The compliance department works in a silo and doesn't think about how operations or technology, or how other things can help them make their jobs easier." - Justin Goodbread    About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Have you ever considered that you could drive greater profitability in your RIA (or any other business) through policies and procedures? Think about it... Your firm's governing documents such as the employee handbook, compliance manual, or company policy are meant to communicate policies and contingencies that can reduce risk and drive efficiency.   In today's episode, I'm going to discuss these important documents. As I do, I will explain which documents you should have in your RIA, and what types of information goes into each one. Finally, I will explain how well-kept governing documents can help you become more profitable and propel you toward the eight-figure exit.   This week on The Financially Simple Podcast:    (0:57) What are the governing documents for an RIA? (3:34) How does a document written by an attorney impact your eight-figure exit? (6:40) Intrinsic value (7:50) Gaining efficiency by enforcing policies and procedures (10:33) What happens if you don't set the expectation? (11:12) Strategies to drive compliance to your governing documents (16:34) Do you have faith in processes to handle regulatory change management? (17:25) Don't simply put these documents on the shelf   Our Favorite Quotes:  "By engaging your team and the governing documents, you can instill a culture of regulatory compliance for you and your RIA. But you can also instill a culture of profitability and value." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

The idea of a flat organizational structure has gained steam in recent years. On its surface, it may seem like a good idea. However, without a clear leader, people often become confused about which direction to follow. In this episode, I take a close look at some of the most common types of organizational structures. Join me as I explain why the flat org chart might prevent you from achieving the eight-figure exit you desire!   This week on The Financially Simple Podcast:    (0:40) My soapbox (1:40) Why organizational charts matter (3:48) Different types of organizational structures (14:00) The reason we're here (15:00) What got us here won't get us where we want to go (16:14) The lack of a clear leader can be confusing (19:10) Why you can't have a flat org chart in your RIA (25:46) Embrace hierarchy (26:27) How does an organization that truly conquers things structure its org chart?   Our Favorite Quotes:  "Having a powerful and scalable organizational structure is one of the most important ways that you can help solidify the team, solidify the company, and prepare them for exit." - Justin Goodbread   "It is impossible to find groups or organizations where all members have roughly equal status and power. Whether researchers study people, dogs, or baboons, hierarchies are evident after just minutes of observation." - Robert Sutton, Professor of Management Science, Stanford University   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Key Performance Indicators (KPIs) can provide you with invaluable data to determine the health and direction of your RIA. However, with a seemingly endless number of KPIs to choose from, how can you know which ones to track in your organization? In this episode, I will uncover some of the mystique around KPIs, as well as explore which ones I believe every RIA should be tracking on their way to the eight-figure exit.     This week on The Financially Simple Podcast:    (0:37) What is a Key Performance Indicator? (2:49) Is it a metric? Not exactly... (4:07) KPIs that the financial advisory business owner should track... (7:10) Number of households per advisor (9:34) Average number of meetings per advisor (13:47) Your industry has KPIs that will drive you toward the 8-figure exit   Our Favorite Quotes:  "What gets measured gets improved." - Peter Drucker    "The KPI is like the roof of the house, and the metrics are like the walls that hold the roof up." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

One of the most challenging aspects of owning any business is building a cohesive and committed team. Different personalities and skill sets have very different needs. On top of this, you must also know which personality types are suited for each role and put people in the correct seats. In this episode, I continue looking at how to build a committed team for your eight-figure exit. I also discuss the difference between the technician, the manager, and the executive, and putting yourself and others in the best position to succeed.   This week on The Financially Simple Podcast:  (1:30) Your company will change (4:55) Who do you need in an RIA? (9:30) Why does it matter in light of the eight-figure exit? (11:05) Assessing your team's competencies (14:55) Developing an assessment plan (16:12) Creating micro-alignment for the eight-figure exit (18:13) What's the strategy?   Our Favorite Quotes:  "In order to grow, a firm needs to involve more people. With the arrival of more and more professionals, old structures become inadequate and new forms of organizational structure must emerge to unlock the ability of the firm to continue to function at a larger size." - Phillip Pavaleev, CEO, The Ensemble Practice LLC.   "What got us here's not going to get us there." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Have you ever considered what goes into building a team committed to working through an eight-figure exit with you? The phrasing of that question is significant. You see, building a team requires a great deal of forethought because it is a tactical movement. Likewise, you want to build a team that will work through an exit and not just to one. But why?   In this episode, I take a deep dive into this subject. I'll discuss the strategies of developing your team while driving toward your desired exit, as well as growing it through strategic hires. Additionally, I'll examine the impact a committed team can have on your firm's final value.   This week on The Financially Simple Podcast:    (0:10) Why I chose this title (3:57) Why should you be concerned with growing your team? (7:35) Why does it matter to your employees? (11:52) How do you build a team that's committed to the eight-figure exit? (14:57) You might need new team members (17:17) Create a compelling EPV (18:30) Don't lose sight of the vision   Our Favorite Quotes:  "Before You're a leader, success is all about growing yourself. When you become a leader, success is all about growing others." - Jack Welch     About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As you work to prepare your business for the eight-figure exit, change is inevitable. What got you here won't necessarily get you there. This is true whether you own an RIA or an auto repair shop. Because of the disruptive nature of change, you must be prepared to enact proper change management within your team.   In this episode, I discuss why change is necessary for the eight-figure exit, and how proper change management can help you maintain your positive momentum even through periods of transition. If you're dreaming of making your own eight-figure exit, you don't want to miss this episode!   This week on The Financially Simple Podcast:    (1:40) Change that necessitates strong change management (2:28) Change is hard (3:11) Change management is needed (6:51) Change is necessary (9:15) Six aspects of effective change management (17:08) How to implement change management   Our Favorite Quotes:  "In order to affect the future, we must disrupt the present." - Justin Goodbread   "Growth alone is going to necessitate change." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Client attrition can be devastating to your goal of achieving the eight-figure exit. We work hard to acquire each client and it can feel deeply personal when they decide to leave. But what causes clients to leave an RIA?   In this episode, I look at the top reasons clients leave their advisors. By understanding why clients leave, you can take proactive measures to ensure that your book of business continues to grow and thrive, driving your toward the eight-figure exit.   This week on The Financially Simple Podcast:    (3:51) From the business owner's seat (5:16) Loyal customers are more likely to refer (6:05) Why do clients leave their RIA? (7:21) Fixing the communication issues in your firm (9:35) Perception of value (10:46) Aligning the value proposition (13:53) Lagging technology (16:14) Poor chemistry (22:24) Shifting methodology   Our Favorite Quotes:  "Our younger generations are the generations that will often move the average age range of our book which causes our multiple to increase." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As business owners, we understand the importance of operational efficiency. But did you know your RIA's operational efficiencies could be the difference between making your eight-figure exit and missing the mark? Knowing that the efficiency of your operations has a direct correlation to your firm's valuation is one thing. However, understanding the biggest drivers could position you to take control of your practice and steer it toward the exit you desire.   In this episode, I take a look at how your efficiencies affect your RIA's value. Similarly, I take an in-depth look at some of the biggest drivers of operational efficiency, and how you can use them to maximize value.   This week on The Financially Simple Podcast:    (2:18) The drivers of operational efficiency are actually perspectives (3:07) The owner's perspective (11:40) The customer's perspective (15:54) Your team's perspective (17:35) Client's do not come first (18:07) How do you influence operational efficiency?   Our Favorite Quotes:  "Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients." - Richard Branson About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you want to make the eight-figure exit, you need to begin planning for it right now. Too many people fail to realize the complexity of proper succession planning and the time required to do it correctly. As a result, many business owners reach their exit, receiving only a fraction of what they could have or worse, nothing at all!   In this episode, I look back at the relay race and what it can teach us about proper succession planning in your RIA. I also discuss the ways you can begin decentralizing and preparing your firm's leadership for your eight-figure exit.   This week on The Financially Simple Podcast:    (0:35) The relay race and business (3:40) What causes a poor transition? (6:24) Effectively passing the baton (7:22) Examine your current processes & develop a complete system (8:42) Creating capacity & implementing new processes (10:12) Clean the office (11:35) The depth of your bench (13:44) Improve collaboration and training to increase engagement   Our Favorite Quotes:  "One is none, and two is one." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Leadership is one of those things that can make or break any business. Great leaders inspire others to become the best possible versions of themselves. In turn, this could lead your RIA to become best-in-class. But how do you inspire your leadership team to exhibit the authority, responsibility, and accountability that can permeate your entire organization?   In this episode, I'll talk about what it means to have a culture of authority, responsibility, and accountability. Similarly, I'll explore how it can impact your eight-figure exit. Finally, I'm going to take a look at what works and what doesn't, giving you seven ways to implement this type of culture in your own firm. Regardless of the industry you're in, this is one episode you don't want to miss! This week on The Financially Simple Podcast:    (1:07) How do you make way for the eight-figure exit? (2:02) How are you impacting your employees? (3:23) The carrot and stick (5:33) Reduction of micro-management (7:38) Authority, responsibility, & accountability: defining them as tenets of leadership (8:54) 7 Ways to implement responsibility, accountability, and authority (12:37) Create "psychological ownership" (16:22) ffffThe trickle down effect   Our Favorite Quotes:  "While your leaders may be great at their respective roles, let me ask you the question, 'do they exhibit the traits of authority, responsibility, and accountability amongst your teams?'" — Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Working toward the eight-figure exit is challenging under normal circumstances. However, attempting to drive real and lasting growth is nearly impossible when your senior management team is operating under a silo mentality. When your team is siloed, it can cost you valuable time and resources as you work toward your objectives. So, what can you do to break down the silos that stand in your way, as an RIA? In this episode, I discuss the hazards a silo mentality presents to your firm. I also outline eight ways you can tear down the informational and collaborative barriers within your firm. As you work toward your eight-figure exit, ensuring that your organization's leadership is united toward the same vision is imperative. However, don't check out just because you're not a financial advisor. This information could be applied to any business!   This week on The Financially Simple Podcast:  (2:33) What is the Silo Mentality? (3:26) The Issues That Create a Siloed Management Team & Their Consequences (6:39) Cross-Functional Projects (8:30) Team-Building Exercises (9:12) Collaborative Decision-Making (9:54) Incorporate Shared Goals & Incentives (10:47) Cultivate a Culture of Open Communication (12:30) Knowledge Sharing Events (12:41) Continuous Improvement & Required Reading (14:06) Remind Your Senior Management That Their Team Mirrors Their Behavior   Our Favorite Quotes: "Silo builds the wall in people's minds and creates the barriers in organizations' hearts." Pearl Zhu    About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As RIA owners, we often make the mistake of thinking that the only way to drive greater profitability is to cut costs. While managing expenses is certainly a factor, company culture is one of the greatest drivers of profitability.  In this episode, I explain how your RIA's culture could be the key to an eight-figure exit. I also look at some of the signs of a toxic company culture. Likewise, I'll discuss the importance of identifying the culture a buyer will want, and provide tips for changing a culture from the inside out.   This week on The Financially Simple Podcast: ●        (1:40) Defining Company Culture & its Impact on Your RIA ●        (3:17) Culture in the Advisory Space ●        (4:04) Firm Culture & What You Can Learn From Your Employees ●        (6:55) Why Type of Culture Would the Buyer Want? ●        (8:01) Culture Drives Profitability & Other Benefits ●        (11:16) The Impact of Employee Recognition ●        (11:50) Determining What Your Company Culture Is ●        (12:40) Steps to Create A Winning Culture   Our Favorite Quotes: "People need to feel good and have an environment that supports their ability to do their best work everyday."  - Greg Friedman "Everything rises and falls on leadership." - John Maxwell   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As a financial advisor, does it ever feel like you're trudging through mud? You work, and push, and drive to try to reach your goals but no matter what you do, you just end up exhausted and frustrated at your results. If this is you, strategic planning might be the key to start seeing real movement in your RIA. In this episode, I explore strategic planning in the RIA space. I discuss some interesting statistics surrounding planning and breakdown how you can predictably plan to reach your eight-figure exit. The strategic planning principles I cover can be applied to all industries, however. So don't miss this episode!   This week on The Financially Simple Podcast:  (0:25) The Recurring Question I Get from Financial Advisors (2:15) An Introduction to Strategic Planning in the RIA Space (3:43) Why "Shooting from the Hip" Doesn't Work (5:35) 8 Stages of Strategic Planning (14:16) The Problem with Strategic Planning (16:31) Grandiose Ideas (17:59) How to Approach Your Strategic Plans   Our Favorite Quotes:  "A strategic planning discipline creates a shared vision for the operational, financial, and talent aspirations of your firm. The most successful strategic plans harness the power of a proven framework that challenges conventional processes and forces critical thinking to answer hard questions." - Kim Kovalski, Managing Director, Marshberry "Strategic planning is simple in terms of concept but it's hard to implement. It's hard to execute." - Justin Goodbread   Reference Links: Understanding the Difference Between Vision and Mission   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Technology has come a long way in a very short time. With all of the advancements, financial advisors have access to tools that can help drive operational efficiency, improved client experience, and many other desirable outcomes. Unfortunately, many of us are still thinking about tech the wrong way, and failing to use it to its full potential.   In this episode, I take a look at technology in each of the eight key areas of business. I'll also provide some insights into how you could strategically implement technology in your business to drive it toward the eight-figure exit. Regardless of the industry your business is in, you don't want to miss this episode!   This week on The Financially Simple Podcast:    (0:03) Tangible benefits of embracing technology (3:34) Evaluating your current tech stack (6:36) Technology in 8 Key Areas (7:25) Using Technology in Your Business Planning (8:44) Using Technology in Your Business Leadership (10:41) Using Technology in Your Sales Department (11:26) Using Technology in Your Marketing Department (12:30) Using Technology to support Your People (15:13) Using Technology in Your Operations Department (16:22) Using Technology in Your Finance Department (17:09) Using Technology in Your Legal Department (18:15) Steps to implementation   Our Favorite Quotes:  "Be crystal clear in what you're trying to accomplish. What is your objective?" - Justin Goodbread   "Is it (your technology) costing you too much money, time, or is it misaligning from your strategic goal?" - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Defining the ideal client for your RIA is an important step toward the growth you desire. But what if the ideal client you've identified turns out to be more of a hindrance to your success? In this episode, I discuss seven reasons your perfect client persona may be holding you back. I'll also take a look at some of the ways you can refine your client persona to better fit the direction you want to go.   This week on The Financially Simple Podcast:    (1:18) What Is the Ideal Client? (2:48) How Do We Define Our Ideal Client? (3:46) Defining Your Target Market (4:20) You Haven't Defined Your Ideal Client Well Enough (7:33) Geographical Distance Could be Problematic (10:19) You're Targeting A Shrinking Market (11:56) Cultural Misalignment (13:46) You're Not Reaching Them Soon Enough (15:50) You Have No Common Ground (17:37) You Don't Have an Ideal Client (18:12) How to Address the Problem   Our Favorite Quotes:  "You've got to have a common ground with your ideal client. If you don't, you could end up with atrophy within your client base after the sale." — Justin Goodbread   "If your content marketing is for everybody, it's for nobody." — Joe Pulizzi   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Growing your RIA in a highly competitive market can be a difficult task. Not only do you have to monitor the health and scalability of your own firm, but you must also keep your finger on the pulse of your competitors. Yet, competitive research is often met with a series of roadblocks.   In this episode, I look at the significant role that competitive research plays in the growth and direction of your RIA. Likewise, I discuss how to examine and evaluate your practice through the eyes of your competition. Finally, I review some of the most important assignments to take before your next strategic planning meeting, as well as the pros and cons that come with them. Whether you're a financial advisor or not, you don't want to miss this episode!   This week on The Financially Simple Podcast:   (3:48) Knowing the Destination: The Key to Good Planning (4:52) Business Owners Often Fail to Plan (5:55) Take Inventory of Right Now (6:38) Standard Operating Procedures (8:24) The Key Metrics (9:29) Take a Holistic Assessment of Your Business (12:35) Competitive Analysis (14:04) The Ideal Client (15:12) Listen to Thought Leaders & Business Experts Across Multiple Industries (17:16) The Pros & Cons   Our Favorite Quotes:  "Oftentimes, we're not honest with ourselves, as business owners. We overly justify where we're at. We don't look at our baby quite as ugly as it truly is." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As a financial advisor, it is possible to set your firm up in such a way that the eight-figure exit is possible. But simply trying to take on more clients as a primary means of growth could be a recipe for disaster. Instead, developing and implementing a system of KPIs could be the answer. KPIs or Key Performance Indicators can provide important insights into the health and direction of your firm.   In this episode, I discuss some of the many KPIs you could choose to explore within your finance department. I also talk about the importance of keeping your KPI tracking simple, and getting your team involved. With the correct KPIs, you could generate increased buy-in from your team while also driving more efficiently toward your objectives. You don't want to miss this episode!   This week on The Financially Simple Podcast:    (2:45) How do we determine if we made the right decision? (5:55) What are the KPIs that RIAs need to track? (7:56) Financial KPIs common to the financial world (12:20) Create a system (15:58) Use KPIs to modify behavior (16:30) A strong KPI system provides a bottom-down approach and a top-down view (18:04) Conclusion   Our Favorite Quotes:  "What gets measured gets improved." - Peter Drucker   "You've got to address the fact that building KPIs, tracking KPIs, and examining KPIs is an investment of time and resources." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Whether you're an established RIA or just starting, understanding which of your services is the most profitable can be a game-changer for the growth and direction of your firm. However, you must also view your services through the greater context of Client Lifetime Value (CLV). This simple metric could change your whole perspective when it comes to your profitability by service.   In this episode, I dive deep, looking at the many layers that determine each practice's best pathway to profitability. From the impact of CLV and time investment to direct and indirect expenses that could be eating into your profits, this episode will help you discover whether you're firm is truly focused on its most profitable services. Finally, I'll give you some practical tips for changing course, should you determine you've been heading in the wrong direction.   This week on The Financially Simple Podcast:    (1:13) The Productivity Paradox (4:27) Define Your Success (6:34) Resources Allocated Per Service (8:34) Concentration Risk (10:05) Lifetime Value for Each Offering (12:11) Average Revenue Per Client (13:11) Direct Cost Per Service (14:52) Time Per Service (23:02) Begin Implementing   Our Favorite Quotes:    "Why can't we be profitable with each offering? If we're going to make an offering, do we really want it to lose money?" - Justin Goodbread "Implementing a strategy is going to cost you. It's going to cost you money. It's going to cost you time." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As the owner of an independent RIA, you likely wear many hats. You're an advisor to your clients, but you could also be overseeing compliance, accounting, operations, and more. Each of these tasks pulls you in different directions, and most importantly, away from your clients. Even if you are succeeding in juggling each of these responsibilities, doing so still presents a problem... your firm is controlling you!   In this episode, I discuss shifting that control back into your hands by hiring a dedicated CFO. I detail what a CFO does for your firm, average compensation in the RIA space, and the education and experience this professional adds to your firm. In addition, I also discuss the importance of looking at your firm's financial health and strategy through an objective lens. You don't want to miss this episode!   This week on The Financially Simple Podcast    (1:35) RIAs Who Use a Dedicated CFO (4:25) Difficult to Raise Fees (5:26) What does a CFO bring to the table? (8:50) The Most Important Thing for Me? Analyzing the Key Metrics (10:26) If You Want to Use a CFO, Where Do You Look? (12:18) External or Fractional CFO (14:56) The Pros and Cons of Hiring an Outside CFO vs Hiring an Internal CFO (16:53) Qualities and Designations to Look For (21:44) Why Do You Need a CFO? (24:09) "Complete Objectivity is Not an Option" (25:13) A Dedicated CFO Decentralizes You (26:05) An Unbelievable Peace   Our Favorite Quotes:  "When you're focused on growth, and not dealing with the day to day crap that we all deal with, now we're able to take a step back and make decisions that, ultimately, we know we need to make that we just don't want to." - Justin Goodbread   "What we can do is reduce our subjectivity - what I call 'I see, therefore it is.'" - Elizabeth Thornton   "A dedicated CFO has the ability to dig into the granular details of your firm's finances in ways that you just don't have time to do." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Owning an independent RIA offers many rewards. You get to work with the clients you want to work with, receive a greater percentage of revenue, and as long as you remain compliant, you have autonomy to do things your way. Yet many financial advisors struggle to maximize the greatest reward that owning their own firm has to offer... You hold an asset that has the power to change your financial future!   In this episode, I discuss the expense benchmarks for the industry. Similarly, I discuss the impact of how you prioritize spending in your firm, as well as the importance of having financial controls in place. Although I'm speaking directly to financial advisors, many of the principles I cover can be directly applied to businesses across multiple industries. So, don't miss out!   This week on The Financially Simple Podcast:    (0:45) The "Eight Figure" Exit (2:30) Are You Tired of Feeling Broke As a Financial Advisor? (5:03) A Byproduct of a Lack of Pure Data (7:35) Moving Away From Brokenness/Facing Contentment (8:51) Industry Averages (12:14) How Do You Relate to the Industry Revenue Averages? (16:25) Identify the Problem (17:26) Financial Controls (19:41) At Least, Be Average (20:43) Monthly Expense Review (23:48) Get True Data By Outsourcing Accounting & Fee Billing (24:59) Defined Process/Procedures (26:25) Begin Forecasting (28:35) The Results of Implementing Financial Controls     Our Favorite Quotes:  "Before you can begin customizing, before you can say, 'Hey, I want an eight-figure exit,' or 'Hey, I want this lifestyle practice where I only have to work X number of hours per month, and I can have X number of revenue,' before you can get there, you have to, at least, be average." - Justin Goodbread   "Providing an educated projection of where your company is headed can enable you to make course corrections and strategic moves that drive your business where you want it to be." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Like many other types of business owners, Independent Financial Advisors are prone to misunderstanding the true potential of their firms. Far beyond a means to a comfortable living, your firm is your greatest individual asset. As such, you must take great care to grow it,  maximizing its value in the process.   Unfortunately, many financial advisors fall short when it comes to preparing their firm for the ultimate sale. In this episode, I introduce a miniseries aimed at helping IARs unlock the success in their firms. Although I'm specifically addressing financial advisors, don't tune out! The information contained in this series can be applied across many industries, and could help you when hiring an advisor of your own.   This week on The Financially Simple Podcast:   (1:46) More questions from financial advisors than any other segment (2:33) Why this information is for everyone (4:15) One thing that surprises me (5:41) Who, specifically, am I speaking to? (9:31) The personality profiles of financial planners (12:11) The hard conversations (19:02) How will you be paid?   Our Favorite Quotes:  "If my planner is the most successful person in my life, that means they know what they're doing." - Justin Goodbread   "I began implementing the strategies I learned from the Exit Planning Institute in my own business, and I watched my company accelerate." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As a business owner, you're a rock star. You are a master of your trade, and provide your clients with the best experience they can have. But what about all those other areas of business? Are you the best HR director? Marketing Specialist? Are you a master of developing systems and processes to maximize operational efficiency? More than likely, you're unequipped in at least one of these areas.   That's why you have a manager on your team. But too often, business owners fail to let their managers manage them. In this episode, I discuss some of the reasons business owners struggle to let go and let their managers also manage them. I also explore the benefits of working with your management team, and offer steps to take to relinquish control for the sake of your business!   This week on The Financially Simple Podcast:   (3:20) The role of an office manager (4:17) Hiring your opposite (11:26) How I allowed myself to be managed (24:00) Don't stand in the way (14:13) Benefits of being managed by your office manager (26:53) Steps to relinquishing control   Our Favorite Quotes:  "Why have a manager if you don't allow them to manage?" - Justin Goodbread   "If you're clinging too tightly to control, you're probably spending a significant amount of time on tasks that don't maximize the value of your time." - Justin Goodbread   "Emily piped up and she said, 'Amy, he needs somebody to tell him "No," graciously because of his personality.'" About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Selling your business can be a dream come true. But there are some surprising realizations you and your spouse or significant other will make once the sale is done. In this episode, I discuss some of the lessons I've learned about life after the sale of a business. I explain the sense of loss that many entrepreneurs feel after they've sold their companies. I also give some tips to prepare for life outside your business, so you can make the transition to "civilian life" as simple as possible.   This week on The Financially Simple Podcast:    (1:30) Burdens carried by our significant others (2:49) The question (4:34) There are rewards from selling your business (6:50) The emotional toll of selling a business (9:15) The link between business owners and their companies (11:01) How do you prepare for life after the sale? (13:01) Learning to live with your significant other... again (14:53) Give like no one else   Our Favorite Quotes:  "When people ask me about my own recent sale, they're often shocked by my answer. You see, while I don't regret selling my companies, there's a sense of loss that I can only compare to the loss of a child." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Few things in life are as emotional and complex as a business sale. You've poured your blood, sweat, and tears into your business for years—even decades—and now, it's time to sell. But should you try to sell your business on your own, or use the services of a business broker?   Is it worth the headache of attempting to facilitate a sale while still operating your business? Are you certain of the real value of your business? Do you have what it takes to negotiate the best price? Can you differentiate between legitimate offers and scams?   In this episode, I look at the pros and cons of working with a broker, as well as detail some of the steps you can take to ensure that you're hiring the right one.   This week on The Financially Simple Podcast:   (0:44) What is a business broker? (3:00) A simple analogy: For Sale By Owner vs Realtor (4:50) Why you should use a broker to sell your business (8:00) Personal experience with an intermediary (9:05) How do you choose a broker?   Our Favorite Quotes:  "Doing the right thing at the wrong time is the wrong thing." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Dental entrepreneurs are very near and dear to my heart. Over the years, I've worked with so many of you, and I hear from even more who follow the Financially Simple Podcast. That's why these past few episodes have been especially geared to each of you. Although you experience many of the same struggles that are common across all industries, there's also a uniqueness about the way a dental practice operates.   In this episode, I am wrapping up the miniseries I've devoted to dental entrepreneurs by looking at whether now is the perfect time to open a new office. I discuss the pros and cons of trying to open a new office from scratch while running a fully operational practice. Likewise, I uncover some of the necessary steps to take that will give your new office the best chance to succeed.   This week on The Financially Simple Podcast:   (1:00) Why you might be considering opening a new office (3:10) The benefits of starting a new office from scratch (Pros) (7:39) The downside of opening a second location (Cons) (11:00) What can you do to make it successful?   Our Favorite Quotes:  "Owning a business is one of the most demanding jobs a person could have. However, with the right team in place, you can delegate some of the responsibilities and free up some of your time." - Justin Goodbread   "Believe it or not, opening a new office will be a lot like opening your first office. Of course, no two businesses are ever the same and they will each present unique struggles and opportunities, much like raising kids." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Making a strategic move to grow your dental practice through a merger is a big decision; one that comes with many moving parts. In this episode, I reveal some of the pros and cons of merging a dental practice to facilitate growth. I also discuss the growing trend of dental entrepreneurs joining DSOs and DMSOs. While specifically addressing dental entrepreneurs, this episode is packed full of practical information for any business owner whose exploring the option of a merger.   This week on The Financially Simple Podcast:  (1:23) Why would you consider merging a dental practice? (3:49) Benefits of merging (4:02) Revenue synergy (5:32) Cost Savings (7:18) The downside of mergers (14:50) How DSO and DMSO models differ (17:10) Considerations for merging with DSOs or DMSOs   Our Favorite Quotes:  "All businesses have problem areas and nobody wants to believe their business isn't 'beautiful.' So, you must expect the same to be true with the practice you're considering a merger with." - Justin Goodbread   "Merging companies are often so focused on cost savings and efficiency that the little things making your patient care so personalized and exceptional could easily fall by the wayside." - Justin Goodbread     About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Recently, I received a very important question from one of our listeners. The question came from a dental entrepreneur who finds himself in a position where his business debts are paid and he has an excess of cash in his reserves. Likewise, he's taken steps to secure his personal finances by diversifying outside the business. He finds himself in a position where he can't take on anymore clients because he's already at capacity, but still wants to grow his practice.   The question is this, "What are the pros and cons of buying a practice to grow my current dental practice?" In this episode, I answer this question, addressing the pros and cons of such a strategic move. I also discuss some of the ways to mitigate the risks involved. Although this question is framed to speak directly to dental entrepreneurs, the information can still be applied to many different industries.   This week on The Financially Simple Podcast:    (1:13) Laying the groundwork/Who asks this type of question? (2:26) Why you should think about buying another practice (7:06) Calculating market share (7:33) Why you shouldn't consider buying another practice (10:17) Avoiding the pitfalls (12:39) A real-life example   Our Favorite Quotes:  "Knowing where you and your competitors sit within your market can enable you to make informed decisions about a strategic acquisition to grow your practice." - Justin Goodbread   "Remember, your team is an asset. It's necessary to invest in them if you want the best from them." - Justin Goodbread     About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I'm always amazed at the number of dentists that listen to the show. It's always very humbling when I meet one of you in person and you tell me how much you enjoy our content and how it has helped you in your businesses. So, with this episode, I want to pay special attention to all of the dental entrepreneurs out there.   In this episode, I look at what it takes to grow your dental practice. From calculating the cost of capital to determining your year-over-year average growth rate, I walk dental entrepreneurs through the factors that go into deciding how and when to reinvest in their practices. However, the principles I'm discussing can also be applied to any business. Therefore, this episode is for all entrepreneurs who are ready to maximize their greatest asset... their business! This week on The Financially Simple Podcast:   (2:17) A few basic assumptions before we begin (5:20) Opportunity Cost (7:21) Calculating Opportunity Cost (8:27) Highest and Best Use of Reinvestment (10:51) What High Revenue Growth practices do differently (14:03) Maximize the number of patients seen each day (throughput) (16:22) Viewing your practice through a buyer's eyes (18:05) Calculating average revenue growth   Our Favorite Quotes:  "Calculating your average growth rate can provide a useful barometer for the overall health of your practice." - Justin Goodbread   "Growing the value of your practice requires deliberate planning and clear, measurable action steps. It's easy to become overwhelmed when working through this. That's where having a trusted advisor to coach and encourage you throughout the process becomes so important." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Selling a business provides many new and exciting opportunities. Although it may be tempting to use the proceeds of the sale to start a new business, there are reasons you might choose to wait. In this episode, I look at the effect our current economy could have on a new business.   I also examine how the mass migration going on in the US could have a variety of impacts on emerging businesses. Perhaps most importantly, I discuss the personal impact that immediately jumping into your next business venture could have on you, your health, and your relationships.   This week on The Financially Simple Podcast    (1:36) Current economic factors  (4:37) Mass migration's impact on local economies (9:20) Personal considerations (10:56) Taking care of yourself (12:36) Taking care of your relationships   Our Favorite Quotes:  "We have the desire to make a path where there isn't one. In many ways, that's a good and admirable trait. But we must remember that there is a cost to all of this, and it's one that we often don't pay alone." - Justin Goodbread   "How many birthdays and milestone life moments have you missed because you had to be present in your business? Now that you've sold your business, could it be time to spend time with the kids before they're out of the house?" - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Expectations are an important part of business. A CEO sets expectations for growth over time. Your sales department outlines product and service expectations for potential clients. But can expectations be harmful to your business? Inherently working to exceed expectations isn't necessarily a bad thing. However, if you're setting expectations too high and consistently underperforming, that could be a recipe for disaster. In this episode, I unpack whether trying to exceed expectations is dangerous to your business. I also give some tips for setting clear expectations, opening the door for you to exceed them.   This week on The Financially Simple Podcast:  (2:08) The importance of clear expectations (3:39) Communicating expectations with clients (4:58) When expectations become dangerous (5:31) Creating realistic expectations (9:45) Exceeding expectations through transparency (11:04) Set boundaries Our Favorite Quotes:   "Setting expectations is only dangerous when they can't be met" - Justin Goodbread "Friends, striving to exceed expectations isn't a bad thing. However, consistently coming up short on your promises could destroy your business and your name." - Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Making the transition from business owner to employee after selling your business is something that many entrepreneurs aren't well prepared for. Friends, I'm not referring to those who've sold their companies and must now find a job. Instead, I'm talking about those who do as I recently did, selling their business and staying on as an employee. Are you truly prepared for that type of transition? Can you handle it? In this episode, I'm exploring how to go from owner to employee in your own business.   This week on The Financially Simple Podcast:   ●        (2:15) Employment agreements and Earn-outs ●        (5:20) Can you handle the change? ●        (7:40) A new set of benefits ●        (10:01) Lowered risk ●        (11:30) Don't do it alone   Our Favorite Quotes: "You can handle whatever you desire to handle. Whether you think you can or think you can't, you're right." - Justin Goodbread   "Being at the top is a lonely place. While you might not be truly alone, there are very few people in the entrepreneur's life that really understand what it's like to be a business owner." - Justin Goodbread   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Your company's core values are more than just a few "feel good" words plastered on your wall. They have the power to shape the entire culture of your business. Therefore, it's critical that your values actually mean something. More than this, they must be such a part of your daily culture that you and your team embody them without a conscious effort. In this episode, I discuss the importance of choosing the correct values for your business and how to live them out. I also cover 4 easy ways to communicate your core business values with your customers.   This week on The Financially Simple Podcast: ●       (1:33) Why core business values matter ●       (3:10) Putting your values to work ●       (4:34) How Chick-fil-A integrated their values into their culture ●       (9:35) 4 ways to communicate your company's core values with customers ●       (9:44) Listing values on your website ●       (11:08) Displaying values through actions ●       (11:34) The power of "Cause Marketing" ●       (12:48) Values-based consumer testimonies   Our Favorite Quotes:   "Son, your what you do speaks so loudly that your words, I cannot hear" - Terry Goodbread, AKA, "Momma" "The point is that a company's core values must be an active part of its culture." - Justin Goodbread "They can't just be empty platitudes. Your core values have to mean something." - Justin Goodbread   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In this episode, I discuss something very near and dear to my heart... the pro forma. You've probably heard of pro forma before. In fact, you may have used them in your business. But are you aware of the many different pro forma documents and their unique benefits?  Using pro forma documents can help you understand what the future holds for your business. I'll discuss this and explain the different types of pro forma and how they can be applied to your business in this episode of the Financially Simple podcast.   This week on The Financially Simple Podcast:  ●        (1:48) What is Pro Forma? ●        (2:35) Pro Forma calculation ●        (5:03) Budget documents ●        (5:24) Company income statements ●        (6:24) Earnings projections ●        (10:53) Secure funding ●        (11:51) Inspire confidence in prospective buyers ●        (13:38) Assessing M&A and risk analysis   Our Favorite Quotes:  "If you use correct assumptions in creating your pro forma, you can demonstrate viable growth, making your business attractive to investors." — Justin Goodbread   "By changing a few key factors, you can identify risks in your planning well before they have the chance to be realized." — Justin Goodbread Get the Financially Simple Pro Forma Template: Financially Simple Pro Forma   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Have you ever wondered why some leaders are more effective than others? The extreme ownership principles taught by Jocko Willink and Leif Babin, both in their book and consulting firm, shine a light on the necessary traits of effective leaders. But how do you take battle-tested (literally) leadership principles and apply them to your business?   In this episode, I explore how extreme ownership applies to small business. I'll also explain 3 ways you can quickly implement extreme ownership principles in your team to supercharge your business.   This week on The Financially Simple Podcast:   (2:02) What is Extreme Ownership? (4:52) Accepting Criticism and Deflecting Praise (7:17) Self Evaluation (7:59) Implementing Extreme Ownership in Your Team (10:44) No Bad Teams, Only Bad Leaders (11:56) Transforming Leaders (16:26) Cover and Move (20:09) Steps to Break Down Silos   Our Favorite Quotes:   "With great leadership, any team can succeed." — Justin Goodbread   "Allow your group leaders to lead. Micro-managing their efforts displays a lack of trust and is not conducive to successful operations." — Justin Goodbread   Get Your Copy: Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink & Leif Babin   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Succession planning and exit planning are terms that are often used interchangeably. However, each one is a vital aspect of business planning that works to achieve different outcomes. So, what is the difference? In this episode, I take a closer look at succession planning vs. exit planning. I also discuss their benefits, why and how business owners should use them, and when to begin planning.   This week on The Financially Simple Podcast:   (1:00) What is Succession Planning? (2:01) The Many Benefits (5:36) When Should You Begin Succession Planning (7:48) Introduction to Exit Planning (9:26) How Exit Planning Benefits Owner and Business (10:41) Facilitating a Sale Without Making an Exit   Our Favorite Quotes: "Unlike reactive hiring practices, the succession planning process is well-planned-out. It is a long-term procedure of building several internal pools of qualified candidates who are able to fill vacancies." - Justin Goodbread "Don't make the mistake of thinking you can wait until you're ready to hand the business over to the next group of leaders." - Justin Goodbread   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Understanding your customers is a critical aspect of business. But there might be more substantial benefits than you think. When you're just starting off, it's usually necessary to take on as many clients as you can. However, as you grow, this practice could actually stunt the growth of your business. In this episode, I discuss 3 ways (metrics) to determine your ideal client and how you can use the results to supercharge your business's potential for growth. I'll also explore the individual calculations that go into each of these metrics.   This week on The Financially Simple Podcast:   (3:14) The Recency, Frequency, Monetary Value Model (5:31) Customer Lifetime Value (11:26) Customer Acquisition Cost (13:11) The CLV Over CAC Metric (16:02) How to Use the Results to Grow Your Business   Our Favorite Quotes: "Sometimes you have to say, 'No' to the good things in order to say, 'Yes' to the great things." — Justin Goodbread     About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Business owners are just wired differently than most people. We want to do things our way and we're willing to work twice as hard to make that a possibility. I've often said we're the only people in the world who will work 80 hours per week for ourselves so that we don't have to work 40 for someone else. But it takes a special kind of person to succeed in business. You've got to be tenacious and willing to charge hell with a water pistol. Why do we enjoy such a challenging lifestyle? In this episode, I'm joined by Dr. Yvonne Kinney, a business psychologist who specializes in consulting business owners. Together, we look at what makes business owners tick, how to change our thinking so we can get out of our own way, and how to prepare for life beyond business!   This week on The Financially Simple Podcast  The advantage of knowing what makes you tick (3:02) Identifying strengths and making good decisions (4:44) How a business psychologist can help keep you grounded (8:30) Using psychology to motivate business owners into action (11:38) Challenging past success for future gains (13:22) What to consider when preparing for an exit (17:20)   Our Favorite Quotes:  "Having an assessment instrument that can provide us some insight to which we can create a deep sense of awareness helps us, then, put some actions in place to either grow ourselves, learn some new behaviors, and perhaps let go of some habits and behaviors that aren't serving us so well anymore." - Dr. Yvonne Kinney   "As my mom used to say, 'Son, education without application leads to stagnation.'" - Justin Goodbread    Connect with Dr. Yvonne Kinney: Consulting Solutions LinkedIn   About the Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

As a business owner, you must always be ready for change. Adapting and reacting to shifts in the market, technologies, consumer trends, etc., can help keep your business moving in the right direction. Sometimes, that means pivoting away from your original plan. Pivoting to a new business model or offering doesn't indicate failure. If done properly, it could be an effective strategy. In this episode, I discuss how to create a successful pivot strategy. I also explain a few important steps to take when implementing a pivot.   This week on The Financially Simple Podcast: Why you might need to pivot (1:51) Pivoting doesn't indicate failure (3:53) Take the long view (8:28) Don't neglect short-term sustainability (11:41) Listen to outside perspectives (14:31) Communication is vital (17:06) Wrap-up (20:00) Our Favorite Quotes:  "Pivoting, changing a strategy, changing a key player, changing a product line does not indicate failure. In fact, I would argue, it's the opposite." – Justin Goodbread "Knowing what our customers are saying as we introduce this new pivot, is paramount." – Justin Goodbread "Being transparent, being authentic, taking time to explain 'why' will successfully charge a pivot for your company." – Justin Goodbread   About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin: Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here: Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher  Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

One of the greatest parts of entrepreneurship is the freedom to choose how you're going to operate your business. You can choose the type of business you want to run, what your product will be, who you're interested in helping, etc. The possibilities seem to go on and on into eternity. As long as you follow sound business principles, you're at least going to have a shot at success regardless of the type of company you own. However, many business owners overlook one model that could be the key to sustainable growth. Recurring revenue models can offer predictability and stability, helping you to scale and making your business more attractive to prospective buyers and investors. In this episode, I explore types of recurring revenue models and how they could benefit your business regardless of industry. "If you think in a constructive manner, in a creative manner, more than likely, you can fit or you can adjust or modify one of these models into your own business or to complement your current offering so that you, too, can increase the value of your company." – Justin Goodbread   This week on The Financially Simple Podcast What is recurring revenue? (2:31) Subscription-based with auto-renewal (4:00) Long-term contracts (5:12) Cross selling or supplementary products (6:40) Why does recurring revenue matter? (9:10) Financial predictability (9:34) Added stability (11:23) Deeper customer relationships (12:50) Easier customer experience (16:21) Our Favorite Quotes: "Any objection to the downside risk can be easily overcome by the benefits." – Justin Goodbread "I have yet to see a business where we cannot institute some sort of a recurring revenue model." – Justin Goodbread   About The Financially Simple Podcast   If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.    If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/   Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter   Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Mentorship is a valuable asset in the business world. It is beneficial for both the mentor and the mentee. The mentee benefits from your experience. On the other hand, you, as the mentor, get to sharpen your skills and increase your network. Perhaps you've identified a promising young talent in your company and want to help them grow. But where do you begin? What's the most effective path to accelerate their growth? How do you measure progress? And, just as important, how do you know when to end the mentor/mentee relationship?  In this episode, I discuss the ways team leadership and upskilling staff can benefit your business. Likewise, I look at the key components of mentoring an employee from identifying goals and communication to knowing when it's time to end the mentoring relationship.  "Being a mentor has allowed me to expand my skills." – Justin Goodbread  This week on The Financially Simple Podcast: The Benefits of Mentorship (1:03) How to Effectively Mentor an Employee (6:32) Set Clear Goals (10:37) When to Stop Mentoring an Employee (11:05) Unfettered Access, Assigning Blame, and Being Non-Committal (12:05) How to End the Mentorship (12:45) Conclusion (14:40) Our Favorite Quotes:  "Both parties, both the mentor and the mentee, should want to have this relationship and it should be clearly established what the outcome needs to be or is desired." – Justin Goodbread "Not every time that you enter into a mentor/mentee relationship, is it going to go as expected. I've seen this happen in my coaching relationships where business owners started a mentorship, and the relationship turns sour." – Justin Goodbread    About The Financially Simple Podcast  If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.   If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/  Connect with Justin:  Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here:  Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

When you own a family business, it's important to keep family discord and internal conflict out of the business. Those who can manage the family dynamics within their companies will often see them become generational businesses. But that's not always the easiest thing to do. In this episode, I'm joined by a father & son team who has made the family business work. My dear friends Chris (CEO) and Scott Snider (President) of the Exit Planning Institute have found the key to dealing with internal conflict as a family-owned business. Together, we will discuss some of the difficulties of operating generational businesses and the solutions they've found to combat them.   This week on The Financially Simple Podcast: What it's like for the second generation. (02:16) Designing the business to prevent family conflict. (03:40) Battling an "entitlement" mindset. (07:20) Protecting the family culture. (15:30) Transition of control. (20:45) Knowing when the second generation is ready. (28:15) The emotions of making an exit. (35:25)   Our Favorite Quotes:  "You've got to run the business from the numbers. You've got to treat it like a business. It's not a family piggy bank." – Chris Snider  "Life's like an onion. Every layer that you peel back can either be sweet or it can make you cry." – Justin Goodbread "Find that private place where you're always in a good place, and you can do some soul searching about what you really want." – Chris Snider "Stop following the same path. Get off of it. Do something different and once you get there, continue to stay hungry." – Scot Snider   Connect with Chris & Scott Snider:  Exit Planning Institute  Chris Snider LinkedIn Scott Snider LinkedIn   Resources Mentioned: The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations The Hidden Life of Trees: What They Feel, How They Communicate Walking to Destiny: 11 Actions an Owner MUST Take to Rapidly Grow Value & Unlock Wealth The 7 Habits of Highly Effective People About The Financially Simple Podcast    If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.   If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin:  Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here:  Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Owning a family business is as much a part of the American dream as having a house with a front porch swing and white picket fence. It's a fine dream to have, and for many, it can be a reality. However, owning a family business is hard. You're dealing with all the usual problems business owners face while adding complex family dynamics to the mix. Things can grow even more complicated when it's time to leave the business.  In this episode, I discuss some of the pitfalls that can arise when your kids take over the family business. I look at why the three-generation rule may not be entirely accurate and explain how entitlement isn't just a problem in the younger generation. Likewise, I examine how misaligned dreams, poor planning, and even sibling rivalry could create major problems for the future of your family business. "Education helps us and, if we apply it, we can often sidestep pitfalls." – Justin Goodbread This week on The Financially Simple Podcast: The Three-Generation Rule (1:10) "Most of it is nonsense!" (1:50) Entitlement (4:09) Is your dream your child's dream? (10:22) Planning for future generations (12:20) Sibling rivalry and the family business (15:10) Mitigating the pitfalls of your kids taking over the family business (16:27) Our Favorite Quotes:  "Do we not give any credence to the fact that these children have been in the business and have grown up seeing the business nurtured, seeing the business morph, seeing the business grow?" – Justin Goodbread "You want to start thinking about your exit long before you ever plan on exiting the company, whether that be through a sale outside the company or whether that be a transfer internally, to the children. – Justin Goodbread    About The Financially Simple Podcast  If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.   If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin:  Financially Simple newsletter  Facebook  LinkedIn  Twitter  Subscribe Here:  Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.    Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").    This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Recession is a very real part of the economic cycle. Yet, it's one that nobody really likes to talk about. Understandably, the term conjures many negative emotions. People become fearful during periods of uncertainty in the economy. But we must think differently, as business owners. Although your instinct may be to draw back and cut spending during economic uncertainty, this will likely prevent you from taking advantage of the opportunities it presents. Knowing how to weather a recession could put you and your business in a very advantageous position when the economy recovers. In this episode, I look at five ways you could take advantage of the next recession. I explain how a recession fits into the normal economic cycle and how you can access more affordable advertising, vendor pricing, and more. Join me to find out how your business could benefit from a recession. "Be fearful when others are greedy, and greedy when others are fearful." – Warren Buffett   This week on The Financially Simple Podcast: What is a recession and where does it fit within the economic cycle? (01:30) How can business owners take advantage of the next recession? (04:00) Affordable advertising. (05:50) Search Engine Optimization (SEO). (08:14) Market expansion. (09:57) Negotiate better vendor pricing. (12:01) "Level up" your employees. (13:06) Our Favorite Quotes:  "Discomfort is essential for growth... if you're a successful business owner then pain, and suffering is familiar to you." – Justin Goodbread "A recession can feel like a storm coming upon us. The reality is, a wise business owner leans into that wind." – Justin Goodbread About The Financially Simple Podcast  If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.     If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/    Connect with Justin:  Financially Simple newsletter  Facebook  LinkedIn  Twitter    Subscribe Here:  Apple Podcast  Spotify  Google Podcast  iHeart Radio  Stitcher    Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.  Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").  This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Luke Acree is the President of ReminderMedia, an organization that helps businesses generate leads, develop repeat clients, and capture referrals. Under Luke's leadership, ReminderMedia has expanded its product line to include turnkey social media management, digital magazines, email marketing, and analytics. He holds a Bachelor of Science degree in Computer Science from Longwood University and also. In addition to his responsibilities as President of ReminderMedia, Luke serves as the Vice Chairman for the Calvary Vision Church's board of directors and hosts the StayPaid podcast, a show where he, his co-host Josh Stike, and their guests give listeners actionable sales and marketing advice that will help them live a life of freedom.    Luke joins me today to discuss the pillars of building great relationships with clients. He describes who your company's raving fans are and shares the key methods to creating more of them. He explains what makes Chick-fil-A an exceptional company and how billion-dollar companies like Facebook and Google leverage data to empower their marketing campaigns. Luke also highlights the value of building trust with clients, explains why you can't make too many touchpoints with clients, and underscores how you can stay relevant through impact.   "When the unexpected happens is when you can turn somebody into a raving fan." - Luke Acree   This week on the Financially Simple Experience:   Why marketing has a bad reputation among business owners Luke's background and what led him to become passionate about marketing Reminder Media's growth over the years and its specialty in creating raving fans Empowering entrepreneurs to live a life of freedom What raving fans are and how to create them What makes Chick-fil-A special and how unexpected experiences create raving fans How to create great, unexpected experiences in your business The FIT methodology and a tactical tip for segmenting your client list Building trust through accolades, client testimonials, and educational content Delivering educational content through podcasting   Resources Mentioned: Book: The Power of One More: The Ultimate Guide to Happiness and Success by Ed Mylett Podcast: The Ed Mylett Show   Our Favorite Quotes: "To build frequency, impact, and trust, you have to plan, enact, and continue the plan." - Justin Goodbread "You need to have marketing paramount; it should be leading and permeating every area of your business." - Justin Goodbread "The currency of business is relationships; the best businesses are the ones who can create great relationships." - Luke Acree   Connect with Luke Acree: ReminderMedia Podcast: StayPaid ReminderMedia on LinkedIn ReminderMedia on Instagram ReminderMedia on Facebook ReminderMedia on Twitter ReminderMedia on YouTube Luke Acree on LinkedIn Luke Acree on Instagram Luke Acree on Facebook Luke Acree on Twitter   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Business owners all over the country are feeling the effects of inflation in their organizations. The longer it goes on, the harder it becomes to simply "wait it out." The truth is many business owners are facing a tough choice… continue watching their profit margins diminish until they're forced to close their doors or increase their pricing. But how can business owners raise their rates without losing customers? In this episode, I detail the necessary steps to increase your pricing without scaring away your customers. I explain the importance of quantifying your changes with real data, communicating increases with your sales team, and following up with customers after the increase has taken place. Additionally, I look at why timing is critical to successfully executing a price increase. This week on The Financially Simple Podcast: The effects of the current inflationary trend (02:35) A multi-faceted approach to determine what your price needs to be (04:45) Gauging competitor pricing (08:25) Peanut Butter Allocation (09:40) Determining your increase (10:55) Communicating your findings with your team (12:24) Transparency and Value (14:21) The value of a great customer experience (16:50) Monitor the impact of price increases (18:21) Our Favorite Quotes: "People value authenticity. People value vulnerability. People value truth. People value good work." – Justin Goodbread "We have to look at standardizing the sales process even further as we begin increasing pricing." – Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. If you have questions for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In the tough economy we're in, we frequently see fierce price wars raging between companies. Business owners are tenacious, bullheaded, and ferociously competitive people. We want to win at all costs, and all the time. But winning a price war can be dangerous—when we're not careful with our emotions, we can find ourselves trying to win a race to the bottom. So, when you see your competitors drastically driving down their product or service price, don't lower yours just yet. In this episode, I discuss how we should respond as business owners whenever we find ourselves in a price war. I explain the negative impact of lowering your prices on your business, profit margins, product or service quality, and labor power. I describe how Apple increased its product sales by creating differentiation strategies and how Chick-fil-A outpaced its competitors without lowering their prices. I also share some strategies to implement in your business when facing a possible price war and outline other alternatives to lowering the price of your product or service. "Whenever you see yourself engaging in a price war, you don't necessarily need to respond in kind—you can create a differentiation and still keep your margins." - Justin Goodbread   This week on the Financially Simple Experience: Teen Wolf, Sears and Roebuck, and competing with prices What price wars are and why they should be avoided How engaging in price wars can reduce quality control Why price wars and eliminating competitors can lead to higher prices in the long-run The importance of assessing your competitors' motives when they drop their prices Creating creative differentiators instead of decreasing your prices Developing strategic partnerships and creating great customer experience over low pricing Educating your market on your quality and knowledge value   Our Favorite Quotes: "We're at a time in the economy where we may find ourselves in a war on price. Don't race to the bottom of the prices. Instead, hold them firm." - Justin Goodbread "If you want to be a successful business owner and drive value in your company, you cannot compete on price. If you need to change anything, look at expense cutting or investing in marketing." - Justin Goodbread "We need to assess why our competitor is drastically reducing their prices on a product or service. A price reduction may have nothing to do with you—perhaps your competitor is just liquidating." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Christopher Shea is the Chief Investment Officer at WealthSource Partners, a financial advisory firm dedicated to helping financial advisors thrive with business resources, innovative solutions, and ongoing support. Chris's diverse career in the investment management industry includes security research, portfolio construction consulting, investment product development, and portfolio management. Before joining WealthSource, he was the Co-founder of CataMetrics Management, a firm focused on providing investment advisors with an integrated investment solution. He also served as the CIO of US Wealth Management and Vice President of Goldman Sachs. Chris holds a Bachelor of Arts degree in Economics from the University of Massachusetts Amherst in addition to a Chartered Financial Analyst designation. Chris joins me today to offer advice on how business owners can invest. He shares his background in investment management and describes how he became the Chief Investment Officer of WealthSource. He discusses asset classes and why business owners need to invest differently from other kinds of investors. He also outlines his ideas on building a diverse portfolio tailored to a business owner's unique needs and highlights why investing is all about patience. "Good investing is about how you think about yourself, how you confront the world, and patience." - Chris Shea This week on the Financially Simple Experience: Understanding company-specific risks and why business owners need to decentralize Why publicly traded companies have lower company-specific risk The Chartered Financial Analyst designation and how to earn it Chris's role and responsibilities as Chief Investment Officer at WealthSource Why small business owners have high-risk businesses Concentration risk and the value of setting aside cash reserves Why business owners need to invest differently Other asset classes to which business owners can diversify their holdings Building a custom, diversified portfolio that will help small business owners de-risk and decentralize their businesses Resources Mentioned: Book: Gems from Warren Buffett: Wit and Wisdom from 34 Years of Letters to Shareholders by Mark Gavagan and Warren Buffet Book: Think and Grow Rich by Napoleon Hill Our Favorite Quotes: "The lower the risk of a company, the higher the value." - Justin Goodbread "You need to have enough dry powder—cash reserves in your business and personal finance—to weather something like a COVID-19 pandemic." - Justin Goodbread "Everybody is different, but business owners possess a unique set of characteristics that, from an investment perspective, they would want to be mindful of." - Chris Shea "As we de-risk and decentralize ourselves through investing in various asset classes, we have to accept the notion that we'll get boring returns; not all assets have to return at the highest possible number." - Justin Goodbread Connect with Chris Shea:   WealthSource Partners WealthSource Partners on LinkedIn Chris Shea on LinkedIn Email: cshea@wealthsource.com About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Business owners and leaders always set visions not only for their companies, but for products and services as well. The thing is, life happens, and not everything turns out exactly as we plan. While we leaders and managers can push through change, disruptions, or obstacles, it's not necessarily the same for teams and employees—and we're inclined to go so fast that we don't think about how the people around us perceive change and disruption.   In these circumstances, it's easy for employees to become critical. That's something we always want to avoid; when we're driving change or adapting to disruptions like a pandemic, we need to get employee buy-in to have advocates for the success of the organization.   In this episode, I outline how you can build employee buy-in, especially during times of change and disruption. I define employee buy-in and differentiate it from employees' adoption of your company's mission. I explain why adoption—of company values or product and service vision—will quickly fall apart without employee buy-in. I also highlight how empathy and transparency create trust and buy-in and underscore how turning employees into advocates affects company success.   "Employee buy-in means the team has caught the vision and trusts you as the leader; they believe in what you're trying to accomplish and are willing to climb mountains not for you, but with you." - Justin Goodbread   This week on the Financially Simple Experience:   Acknowledging the difference between adoption and buy-in How employee buy-in impacts the success of operational changes in a company Building employee buy-in by cultivating honesty and empathy Explaining the 'why' before the 'how' and the importance of communicating change Gaining buy-in through incentivizing success The power of transparency and tracking   Resources Mentioned:   Book: Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek Book: Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink   Our Favorite Quotes:   "Adoption without buy-in means your team is simply following orders, and we may not be able to receive the best from them." - Justin Goodbread "Before you can get buy-in, you need to articulate what you're trying to accomplish in such a way that employees can connect. Then, you can bring them to a point where they feel essential and valued." - Justin Goodbread "Every single employee has something rocking their worlds, and we need to be empathetic to that. It's not all about work." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Many of us business owners are like drivers: our heads are always in the future, thinking about where our companies are headed. On the other hand, many of us aren't experts in human resources and have difficulty working with groups of people with different personalities and skill sets. Still, people are an essential aspect of a company and we have to have a core group of high-performing employees aligned with the direction of the company we're driving. And, amid the Great Resignation, it has become more imperative for business owners to keep their A-level employees happy.   In this episode, I outline the different ways to make your top-performing employees happy and retain them. I discuss how voluntary turnover rates have increased since the pandemic began and describe new workforce issues and needs today's business owners face. I explain why flexible working arrangements are vital to retaining key employees. I also highlight the multigenerational impact of employee recognition and underscore how happy employees can increase your profit margin.   "If you have 10 employees, you are likely to have two to three voluntary departures in the near future, and it could be disruptive for your business." - Justin Goodbread   This week on the Financially Simple Experience:   How voluntary turnover increased throughout the pandemic The transient workforce and the stigmatization of remote work Understanding employee demographics and their needs Investing in employee engagement How improving employee engagement can lead to increased profit margins Daily actions that could increase employee engagement in your company Supporting your top employees' professional development The multi-generational impact of employee recognition Healthy corporate culture and avoiding toxicity in the workplace Embracing workplace flexibility Why flexible schedules and remote work are vital to retaining employees Building friendship and camaraderie in the organization How employee turnover drags profitability and team morale How working with a business coach can help you overcome familiarity bias and retain your high-performing employees   Our Favorite Quotes:   "Commit to your A-players' movement and development. You can build a professional development system, no matter what industry you're in." - Justin Goodbread "We have to maintain motivation. We need to build a healthy corporate culture, strengthen our employee relationship, and reduce micromanagement as much as possible." - Justin Goodbread "We have to rule with empathy. If we're completely rigid and demanding peak performance with no empathy, someone who's going through a hard time in their lives will not stay with the company." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Undoubtedly, in our lives as business owners, we will reach a point where we find ourselves considering selling our businesses. Some owners may feel like they've already achieved a certain goal while others may want to sell their business to raise funds for a new venture. Whatever the reason is, we business owners need to be prepared, and we need to take a step back and evaluate whether it's really time to exit our businesses. In this episode, I outline the factors that determine whether a business owner is ready to sell their company. I explain why many business owners feel regretful within a year of selling their businesses and discuss how you can avoid experiencing an identity crisis after exiting your business. I also describe the "trigger" events that make owners want to transition their companies and underscore why an exit plan is essential to a successful business sale. "With real estate, it's 'location, location, location.' With business exits, it's timing, timing, timing." - Justin Goodbread   This week on the Financially Simple Experience: The factors that determine you're ready to sell your business Thinking about the goals and life you want to have after business Evaluating your personal finances How to avoid regret and identity crisis after selling your business Putting together a transition team before selling your company Building a solid contingency plan Understanding your "trigger" events and defining the "win" for your business The contents of an exit plan   Resources Mentioned: Book: Walking to Destiny: 11 Actions An Owner MUST Take to Rapidly Grow Value & Unlock Wealth by Christopher Snider   Our Favorite Quotes: "Without an exit plan, you could put yourself in a position where you'd regret selling your company within a year." - Justin Goodbread "We want to build the business—and you—in a way that whenever opportunities and wins cross paths, you are completely prepared." - Justin Goodbread "It was because of exit planning that I was able to accomplish an unbelievable dream of mine: to reach a certain number, and to position employees and clients to where they can win." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

What do you do when you hire the wrong person into your company? One of the most difficult aspects of owning and running a business is human resources—people, and hiring them. As business owners, we spend a lot of time, money, resources, sweat, intellectual equity, and energy trying to hire the right people: we articulate and write the perfect job description and go through hours of countless interviews. So, when we realize that an employee isn't a good fit for the role, it becomes a difficult challenge for us to approach. In this episode, I discuss the steps to take when you've hired the wrong person. I explain why cultural fit is non-negotiable in your organization and outline passive and proactive approaches to identifying poor cultural fit. I describe the signs that tell you've hired the right person for the wrong role and how you can fix the issue. I also highlight how you can mitigate legal action following the termination of an employee due to poor fit or performance and underscore the importance of leading with empathy and grace. "Cultural fit is non-negotiable. Positive corporate culture enhances productivity through collaboration and creates engagement. A poor cultural fit can demoralize the team and cause burnout." - Justin Goodbread   This week on the Financially Simple Experience: Leadership and providing a pathway to success for employees Why cultural fit is non-negotiable when hiring employees The tell-tale signs of an employee with a poor cultural fit Passive and proactive approaches to identifying cultural anomalies in your company Addressing workplace toxicity and the importance of creating safe reporting mechanisms Avoiding the "Me" monster and the importance of valuing growth over ego Leading with empathy and how to deal with low-performing employees What to do when you've hired the right person into the wrong role Mitigating legal action and lawsuits from firing an employee with a poor fit   Resources Mentioned: Book: Good to Great: Why Some Companies Make the Leap…And Others Don't by Jim Collins Book: The Dream Manager: Achieve Results Beyond Your Dreams by Helping Your Employees Fulfill Theirs by Matthew Kelly   Our Favorite Quotes: "As leaders, we need to ensure that we've done our very best for our employees—those whom we've hired into our companies to excel and succeed." - Justin Goodbread "Identify and address the problems of a cultural fit before they can make major problems; if you allow them to fester, your company's productivity and profitability can dive." - Justin Goodbread "Lead with empathy and be transparent. However, we need to always be ready to make hard decisions and let people go." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

We entrepreneurs have an unbelievable propensity for optimism. When it comes to cutting ties with something familiar, we often face familiarity bias. So, when it's time to phase out a product or service, we tend to cling to it. Or because it's familiar to us, we never know the right time to innovate our product or service mix and lose out on opportunities to widen our margins. But, friends, the world of business is a world of change. The economy ebbs and flows, and consumer trends always evolve. And as things change, we business owners have to be adaptable and in constant creation mode. In this episode, I outline the factors that tell us it's time to let go of an offer in our business. I explain what the product life cycle is, the characteristics of its different stages, and the variables that impact its phases. I discuss some key considerations we must make before discontinuing a product or service. I also highlight how tracking the profitability of a product or service can help us evaluate if we should discontinue it and underscore how you can effectively communicate to your customers the discontinuation of a product or service. "When we understand our biases, we can take an objective look at whether or not we should continue a product offering." - Justin Goodbread This week on the Financially Simple Experience: Understanding the product life cycle and its four phases Signs that a product has reached its growth and maturity phases Different factors that impact the different phases of a product's life cycle Tracking the profitability of a product or service How focusing on one product too much can harm your product mix and your business Looking at employee costs and the cost of production A quick and dirty math tip for business owners How highly engaged and motivated employees can increase your profit margins How to make cross-selling opportunities work Considering your product array and the power of cross-selling How products can "cannibalize" others in your product array How to effectively communicate product or service discontinuation to your customers or clients Our Favorite Quotes: "We could be harming ourselves by chasing an old, dying product or service when we should be focusing on a new one which could make a greater margin for our business." - Justin Goodbread "As we try to navigate the world of business, we have to look at the offering we deliver to customers and clients. We want an offering that makes clients stick around—that drives profitability, scalability, and the value of our companies." - Justin Goodbread "The way you communicate a product's discontinuation drives perception. And, as we say: perception is reality." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Every day when I turn on the news I see the word "inflation" and never in my life have I seen this word so much. Just the other day, my wife and I went to our local grocery store and purchased bacon, but the cost has been getting increasingly expensive. It's not just food—we've seen inflation impact power bills and gasoline. Every time we turn around, it seems like inflation is rearing its ugly head. It's a nemesis: an enemy to wealth creation  As business owners, we're not just facing inflation at home. It's not just impacting our checkbooks, but our daily business operations too. As we question how we can deal with inflation, we must also consider how we can increase our profits during these times. In this episode, I discuss inflation and how your business can maintain or increase profit margins during inflationary times. I outline some actions to take to mitigate the effects of inflation on your business. I share some inflationary trends and insights from the Harvard Business Review and describe how one company broke down silos and saved $300 million on annual expenses by appointing and empowering a spending czar. I also discuss how technology and automation can help save money and make processes more efficient and underscore the importance of remaining vigilant during inflation.   "Inflation is here and, as business owners, it's imperative that we focus. To weather this particular storm and survive its attacks is going to require vigilance." - Justin Goodbread   This week on the Financially Simple Experience: Annual inflation rates in 2022 How inflation changes the nature of business The pros and cons of adjusting the pricing of your products or services The 'five by five principle' and controlling your spending during inflationary times Differentiating strategic and non-strategic expenses The power of accurate accounting and inventory controls Using the efficiency of technology Prioritizing high-profit margin products during inflation The economic cycle   Our Favorite Quotes: "Inflation drastically changes the nature of our business, and loss of profit and decrease in margins impact us directly." - Justin Goodbread "You must be vigilant and agile. Every day you have to keep a finger at the pulse of your businesses. If you don't, you may not be able to move fast enough to keep your margins in place." - Justin Goodbread "There are things we don't have to spend money on in our business, and when we're in inflationary times, we want to be protective of our resources." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

You've probably heard me preach—shout from the mountaintops, even—several times that for us to drive the values of our companies, we have to decentralize ourselves. We have to remove ourselves from the epicenter of our business—position ourselves where it can function without us. But if decentralization is crucial to the success of our companies, why do we keep returning to the fray?   In this episode, I discuss recentralization, why business owners do it, and what to do to avoid it. I share the different factors that make business owners jump back into the center of their business and explain how decentralization drives the growth of your business. I also highlight the power of business systems and standard operating procedures and underscore the importance of cultivating your company's culture.   "Don't recentralize yourself. Your team, your customers, and your business are incumbent on you decentralizing—removing yourself from the epicenter of the business." - Justin Goodbread   This week on the Financially Simple Experience:   How the process of decentralization helps drive up the value of a company What is business recentralization Pride and fear and how they drive us to recentralize The unwillingness to balance quality and growth Quality control and how to prevent recentralization The introduction of the Six Sigma quality methodology How robust systems and processes help prevent recentralization The right way to disseminate standard operating procedures in the company   Resources Mentioned:   Book: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael Gerber   Our Favorite Quotes:   "Until your business processes become second-nature to your team, the fire will continue to entice you to jump back into your system and recentralize yourself, costing you the hard work you've done to increase the value of your company." - Justin Goodbread "Create a happy team. If your employee base is content, your client base is content. If your employee base is not content, your client base will not be content." - Justin Goodbread "When we decentralize ourselves from the company, we can see the growth of the company, but we also drive quality. But if we don't balance growth and quality, we cause ourselves to recentralize—to jump back into the fray." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Sales and marketing teams play similar roles in a company. However, many business owners fail to understand the relationship between sales and marketing, costing them resources and the opportunity to efficiently scale their businesses. When it is understood, cultivated, and optimized, a balance of sales and marketing can create happy, long-term customers while boosting a company's growth.   In this episode, I discuss the relationship between sales and marketing. I define what sales and marketing teams are and describe their tasks and responsibilities within a company. I explain how the collaboration between sales and marketing teams increases efficiency and creates long-term, happy clients. I also highlight why margin matters more than volume and underscore why business owners need to include sales and marketing together in their strategic plans.   "Sales and marketing are like a hand and a glove, like pepperoni and pizza, and like peanut butter and jelly." - Justin Goodbread   This week on the Financially Simple Experience:   Why many businesses don't see the relationship between sales and marketing The definitions of sales and marketing How sales teams convert qualified prospects into satisfied customers The importance of growing your business through a long-term relationship strategy The sales team's mission to convert prospects into long-term, happy clients How marketing teams identify the perfect customer Why sales and marketing teams need to collaborate   Resources Mentioned:   Book: Guerilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business by Jay Conrad Levinson   Our Favorite Quotes:   "People do business with people, not companies. Humans are built for relationships, and people do business with people who are interested in long-term relationships." - Justin Goodbread "In simple terms, sales brings to people the opportunity to say 'yes' or 'no' for your product or service." - Justin Goodbread "It's paramount that the marketing team can create collateral that can convey the message of what you do as a company for the consumer to understand." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I went through the process of exiting three businesses in the last year. Despite my experience as an entrepreneur and certified exit planning advisor, I found that the process of moving my business from an illiquid to a liquid position was challenging. Truly, there's no amount of preparation that can prepare you for the emotional rollercoaster you're going to ride as you exit your business.   What you can prepare for when you exit your business, however, are the blind spots.   In this episode, I explain how to avoid the largest blindspots in exit planning and transitioning your business. I describe the advantages and challenges associated with transitioning a business to employees, family members, or the open market. I also discuss avoiding the familiarity bias and underscore the power of working with a certified exit planning advisor.   "A blindspot is only going to be revealed and repaired for your ultimate sale when you couple yourself up with clear thinking, determination, and a guide who has walked that path." - Justin Goodbread   This week on the Financially Simple Experience:   The benefits and challenges of selling your business to a key employee The advantage and disadvantages of transitioning your company to a family member Tax planning in estate planning Selling to an open market and its pros and cons The biggest blindspot in exit planning and how to fill it Working with a certified exit planning advisor and avoiding the familiarity bias Working through a SWOT analysis The three types of businesses Why we need to work with coaches outside of our industry   Resources Mentioned:   Book: The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas Stanley   Our Favorite Quotes:   "If we business owners delay, we might not be prepared for the opportunity of exiting our businesses. We might miss it, get less than desirable value, or even regret the sale." - Justin Goodbread "We want to make our assets as valuable as possible. If we invest in it properly, it can give us better value than the open markets and real estate can. We can control it. We can drive it." - Justin Goodbread "Coaches are powerful. I challenge you to hire a business coach that's not in your industry and let them challenge you, ask you lots of questions, and make you defend what you're doing." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

There are a few ways to sell your business: you can sell to a family member or your employees or managers. But what if none of your family members want to take over your business? What if your managers don't feel ready to take an entrepreneurial role? In that case, you may want to sell your business to an open market. Just like other exit strategies, selling your company to an open market comes with blindspots that every business owner should be wary of.   In this episode, I discuss the three common exit planning blindspots every business owner needs to consider when selling their business to an open market. I explain why many business owners are unsatisfied with the sale of their business and how to avoid renegotiating against yourself. I also reveal how a business advisor can help you manage your time and maximize value when selling your company.   "Selling your business to a third party has the highest value ceiling among all the exit strategies." -  Justin Goodbread   This week on the Financially Simple Experience:   Some surprising M&A statistics in Q2 2022 How to avoid being unhappy with the sale of your business Dealing with the financial side of transitioning your business to an open market Why entrepreneurs don't get to sell their businesses for a high price How much time to invest in selling your company to an open market Avoiding renegotiating against yourself Tax issues you have to consider when selling your business to an open market   Resources Mentioned:   BizBuySell   Our Favorite Quotes:   "If you build your business to have best-in-class value, it'll shine like a lighthouse—a beacon to buyers who have a hard time finding the right business they want to buy." - Justin Goodbread "When selling a business, there's a tax landmine that you have to navigate through—and you want to navigate it before you have your letter of intent signed."  - Justin Goodbread "Exit planning isn't for the faint of heart. Building value in your company to create a business that's worth selling takes hard work and somebody in your corner that helps you to be better." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

The idea of selling a company to a manager or a group of employees isn't unheard of. In my decades of being an entrepreneur and consultant to other business owners, I've listened to many conversations about transitioning organizations to workers. But should you actually sell your business to your employee? What are the holes and blindspots that you need to consider? In this episode, I discuss the advantages and disadvantages of selling your company to a key employee. I reveal the tax and legal risks involved in transitioning your business to an employee or group of employees. I also explain how hiring financial advisors can help manage risks during the selling process and share some different exit planning tools and approaches to use when selling your company to an employee. "A key employee—because they have tenure and understand the mission, values, and legacy of the company—will more than likely remain committed to the direction and charge of the company." - Justin Goodbread   This week on the Financially Simple Experience: The advantages and disadvantages of selling your company to a key employee The survival rate of transitioning a business to a key employee The different exit planning tools and approaches to selling your company to a key employee The installment sale approach to selling your business Legal and tax risks associated with the installment sale approach Exit planning with the employee stock option plan and how it works The disadvantages of using the employee stock option plan   Our Favorite Quotes: "There's a certain fire in the belly of business owners that many employees may not have or may not be comfortable with; just because they're a great employee doesn't mean they're a great entrepreneur or business owner." - Justin Goodbread "If the key employee is willing to take on their own capital and use that to put the down payment, you know that they're sincere." - Justin Goodbread "You, as a business owner, should be able to know where your business is heading just by looking at your critical success factors: your key performance indicators, performance indicators, and key results indicators." - Justin Goodbread   Related Content: Pros and Cons of Selling Your Business to Employees Using an ESOP with Ben Wells   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Whenever I sit down with business owners and ask them where their business is going to end up, the majority of them have the same answer: they'll give it to their kids. But even if business owners transition their business to their family, it is not without risk. So, if you're an entrepreneur who wants your children to continue your business legacy someday, what are the things you can do to make a successful transition? In this episode, I discuss selling your business to a family member and transitioning your company to your children. I describe the "Three Generation" rule and share some studies about the longevity of family businesses. I also highlight the risks involved in selling to family members and share my advice on how to groom your children to be your business successor.   "Start your child in the business as soon as possible working from the bottom up. Let them get to know every aspect of the business." - Justin Goodbread   This week on the Financially Simple Experience:   Why it's important to assess whether a family member is a viable business successor The "Three Generation" rule and how long businesses usually last The reason family businesses last longer than publicly-traded companies What makes businesses cease operations and why companies quit The oldest companies in the world and what contributes to their longevity The risks involved in transitioning a business to a family member Preparing your child to take over your business   Resources Mentioned:   Book: The Centuries of Success by William T. O'Hara   Our Favorite Quotes: "Family business is not without risk if you're dealing with a transfer." - Justin Goodbread "As you're picking your successor, you need to figure out if the business is in line with the future of the successor." - Justin Goodbread "If you're going to transfer your business to your child or children, your employees, customers, vendors, and bankers all have to have confidence that this child knows what they're doing." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

This past year—after over three decades of being a business owner—I finally sold my business. There were a few things that I was fortunately prepared for and I was able to avoid devastating blindspots. Unfortunately, not a lot of business owners plan for their exit and, when they do eventually sell their company, they sell it for well under their expectations. How can you avoid this and ensure that you sell your business to its full value?   In this episode, I discuss the value of exit planning and building your business for the perfect buyer. I outline different business blindspots and how to detect them. I explain why it's difficult for business owners to detect blind spots and why it can be challenging to let go of a business. I also describe the emotional struggles of selling a company and how I felt after selling mine.   "Preparing today through exit planning—planning the business for transaction—is just good business strategy." - Justin Goodbread   This week on the Financially Simple Experience:   Where a business owner's net worth is locked up What a business concession is and the importance of exit planning What proximity blindness means for your business Why it's hard for business owners to let go of their companies How business coaches have helped me see my business's blindspots and challenged my thinking Business attractiveness and how to measure it Thinking about your ideal client and target persona for a business sale Owner readiness and why business owners should think about their personal wealth gap The emotional struggles of selling your company How I've felt since selling my businesses   Resources Mentioned:   Book: The E-Myth Revisited: Why Most Small Business Don't Work and What to Do About It by Michael Gerber   Our Favorite Quotes:   "The perfect client is the individual or company who'll acquire us and create a liquidity event." - Justin Goodbread "A business owner who has gone through a transaction understands the emotion that you face as you consider a transaction." - Justin Goodbread "Consider what your business's attractiveness looks like right now and if you're ready to sell it. And if they look good, consider who you're selling your business to." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If something in your business can be measured, it's something you can improve. But we business owners often don't measure; instead, we're keen on licking our forefingers and sticking them up in the air to see which way the wind blows. If we want to scale our businesses and increase their value, we need to create a systematic guideline that's objective, measurable, and repeatable. In this episode, I discuss what standard operating procedures are and why every business needs to have them. I explain the importance of putting standard operating procedures (SOPs) into writing and how you can choose the appropriate format for your SOP manual. I also discuss how writing a solid SOP document can increase the value of your company and underscore how having effective SOPs can give you the freedom that you deserve.   "SOPs are instruction manuals for your company; they ensure that you're documenting every step you've done, so you can control the quality in your company." - Justin Goodbread   This week on the Financially Simple Experience: What standard operating procedures mean for your business What tasks require standard operating procedures Why SOPs need to be put into writing and what it means to "train-scale" The KISS theory of business and how to write company SOPs Choosing the appropriate format for SOP documents Different CRM systems for your SOPs Deciding who writes your operating processes Outsourcing the creation of your SOPs How creating solid standard operating procedures can give you freedom and liberation   Resources Mentioned: Zoho CRM Confluence LucidChart Loom Process Street   Our Favorite Quotes: "There are so many tasks in a company. If you see a major process, you'll want to make an SOP for that, especially if it's a repeated task." - Justin Goodbread "When you delineate SOPs into writing, it gives your team the rules on which it can operate, providing them with consistency while decentralizing management." - Justin Goodbread "You don't have to let your business own you. Processes and SOPs are the keys to efficiency and liberty in business; they give you freedom." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and does not necessarily represent the views and/or opinions of WBA, WSP, or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP, or their representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I have been helping business owners and entrepreneurs reach their dreams and goals through consulting for over two decades. And over the years, one thing is obvious to me: the companies that have detailed and implemented processes are the companies that often yield the best results. So how do you build and implement impactful business processes that can help you scale your organization? In this episode, I outline what a business process is and the four characteristics that make it effective. I explain how writing your company's business processes in detail can help your organization be more efficient and reach your goals. I also discuss why you need to communicate to your team that a new business process can help them reach their goals and highlight why a business process needs to remain flexible and replicable.   "The ability to pause and put into writing your processes creates more efficiency, helping your company reach your goals." - Justin Goodbread   This week on the Financially Simple Experience:   What a business process is Creating business processes and why they matter The importance of identifying business processes and putting them into writing The four characteristics of an effective business process Why a business process should be finite Creating repeatable business processes Why business processes should be flexible at all times Identifying, outlining, and mapping the necessary steps in a business process Implementing a business process in your organization Perfecting the adoption or execution of a business process   Our Favorite Quotes:   "There are so many processes to help our businesses turn, but a business process is simply an action that helps us reach our goal." - Justin Goodbread "When we write our process and give each clarifying step, we create valuable things for our company." - Justin Goodbread "As business owners, we are amazingly creative when it comes to reaching something we want to reach. When someone tells us we can't get something, we'll find a way to get them." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In our business or personal lives, it's probable that we sometimes step on other peoples' toes. We're only human, after all. As entrepreneurs and business owners, it's also probable that there will be times when we need to handle a conflict or complaint brought to us by an employee or stakeholder. Whenever there's a workplace issue, we need to follow some key actions and guidelines to effectively deal with conflict.   In this episode, I discuss how you can handle conflicts and complaints in the workplace. I examine why you may want to consider hiring an outside investigator when handling disputes in the workplace. I explain why you need to have a working knowledge of employment law whether you decide to hire an external investigator or not. I describe the Society of Human Resource Managers (SHRM), the work that they do, and their guidelines for handling workplace investigations. I also underscore the importance of protecting all parties involved and highlight why you need to be detail-oriented when proceeding with an investigation.   "We have a lot to carry as business owners. What's at risk are our reputation, livelihood, net worth, and the reputation of our team and the livelihood of families we've been entrusted with." - Justin Goodbread   This week on the Financially Simple Experience:   The value of hiring external investigators when dealing with workplace issues The Society of Human Resource Managers: its mission and goals Employment laws and regulations every business owner should know SHRM's guidelines for conducting a workplace investigation "Need-to-know" confidentiality and how to enforce it How to protect the parties involved in a workplace complaint Hiring an external investigator Characteristics to look for in an external investigator Why creating a plan of investigation matters Developing investigation interview questions and why they need to be detailed What investigation summaries should contain   Resources Mentioned:   Society for Human Resource Management   Our Favorite Quotes:   "If you are to do an investigation, you have to maintain strict, need-to-know confidentiality." - Justin Goodbread "You need to have a working knowledge of employment law, have strong interpersonal skills, and be able to build rapport, so you're perceived as neutral or fair." - Justin Goodbread "You need to bring everything to light to ensure to the ultimate tribunal that you've done everything in your power to bring the truth." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Whether you realize it or not, we are all playing the Wealth Game. Some never get off first base; others sprint and find themselves in second base; a lucky few reach third base. However, no matter where you are in the game of wealth, you must finish the game and reach the home plate of your financial life. So, what does winning the Wealth Game look like and how do you get there? In this episode, I discuss why it's important to finish the wealth game by reaching home plate and outline how to get there. I enumerate the three characteristics of people who have reached home plate. I share the financial tools you can leverage as you generate wealth—including life and disability insurance—and explain why the IRC is the single greatest wealth generation tool in America. I also highlight the value of working with coaches and financial advisors.   "The game of wealth is plausible. You can reach home plate. Run as fast as you can, and listen to your coach." - Justin Goodbread   This week on the Financially Simple Experience: What winning the Wealth Game looks like How you know you've reached home plate The three characteristics of people who reach home plate Teaching others financial literacy The books and people who taught me about the principles of wealth and financial literacy The definition of generational wealth Financial tools to leverage as you generate wealth The value of working with coaches and financial advisors   Resources Mentioned: Book: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki Book: The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey Book: Financial Peace: Restoring Financial Hope to You and Your Family by Dave Ramsey   Our Favorite Quotes: "The game of wealth isn't about creating money, but creating wealth so we can reach home plate and bless others." - Justin Goodbread "This is what I notice about people who have reached home plate: it no longer becomes about them. They take care of their families and then they become generous by setting up foundations." - Justin Goodbread "The people who win the game of wealth understand the importance of one thing: the importance of having a coach to lay out their plan and hold them accountable to reach their goals." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you've reached third base in the Wealth Game, congratulations! You more than likely have achieved your financial goals. You know, without a shadow of a doubt, that you and your family are financially secure and that you can meet your goals, whatever they are. At this point of the Wealth Game, you might think that that's it—you've won. But the game is not over yet. Your journey is not complete until you make it to home plate. In this episode, I discuss the trap of third base. I describe what it feels like to be on third base and why you can't stay there. I explain why money shouldn't be your focus when playing the Wealth Game, what you should aim for, and the Rule of 4%. I also highlight why money is only a tool and underscore how a team of advisors can help you successfully win your journey to home plate.   "As you stand on third base you need to start thinking outside of your own needs, for money is no more than a tool to meet our needs and to bless others." - Justin Goodbread   This week on the Financially Simple Experience: What reaching third base feels like and why you can't stay there The Rule of 4% The value of having financial advisors at third base Why money shouldn't be the focus of the Wealth Game "The Sandcastle Effect" and how to avoid it   Our Favorite Quotes: "Life's not about getting all you can, canning all you get, and sitting on your can. The same thing is true about money." - Justin Goodbread "If you're reaching third base, now is the time to meet with your advisors and develop a plan so you can make your wealth last and use it to bless others." - Justin Goodbread "At this point in the game, your advisors and your team become invaluable to continuing the growth of your wealth so you can finish the wealth game." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In baseball, moving to third base is a natural progression: you hit the ball, turn first base and run to second, then move to third. Of course, you wouldn't stand idly on second base if you wanted to win—the same is true for the Wealth Game. At the second base of the Wealth Game, you might consider yourself successful. You're living within a budget; your income is sustained and stable;  you're making regular contributions to your retirement plan; maybe you have a business you're expanding. But don't stop just yet—it's time to move to third base. In this episode, I discuss the transition from second to third base and how it differs from the previous moves. I explain how you can calculate your net worth to assess whether you're ready to move to third base. I also reveal the secret sauce to accumulating wealth and describe how to make your assets support the lifestyle you want to live. "The goal of the third base is to go where our assets provide us with enough income to cover the cost of our lifestyle." - Justin Goodbread This week on the Financially Simple Experience: How to know if you're ready to move from second to third base How the move from second to third base differs from the move between first and second The Millionaire Next Door Calculation Gap and the power of compounding interest Using your income increase to expedite your transition from second to third base Our Favorite Quotes: "Compounding interest is the secret sauce to making your track easier to the third base and providing you the income that you need." - Justin Goodbread "As your income increases, allow the spread of your lifestyle and earnings. If you can increase your investment and take your surplus over your lifestyle to magnify the speed at which you move from second to third, it's a win-win." - Justin Goodbread "Shift your mind away from reliance on income—the job that you have, and the business you sacrifice so much for—and move into the assets you're accumulating." - Justin Goodbread About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Where are you right now in your journey through the wealth game? Do you have savings or emergency funds? Are you investing in your future? Do you have a 401k? Have you started your own business? If you have, congratulations, you're in second base! As we continue our journey through the wealth game, we want to begin saving, investing, and accumulating assets while we cast our eyes to third base. Yet—just as the run from first to second was difficult—the run from second to third can be arduous. So, how can you get there?   In this episode, I outline how to move from second to third base in the game of wealth. I define the Prestigious Accumulator of Wealth category and explain how you can get there. I describe why entrepreneurs should build assets inside and outside their businesses. I also highlight the role of coaches in playing the game of wealth and underscore why staying the course to third base is worth it.   "Those of us who make prudent investments, who make wise decisions, who keep the targeted mind—those of us who focus on that intensity—reach third base." - Justin Goodbread   This week on the Financially Simple Experience:   Reaching second base and beginning to invest in your future How to calculate your net worth The Prestigious Accumulator of Wealth category Why business owners should pull their businesses out of their net worth statement How owning a business can quickly propel you to third base The importance of building a portfolio of assets inside and outside your business   Resources Mentioned:   Book: The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas Stanley   Our Favorite Quotes:   "Stay the course. If you find it hard to guard yourself against the naysayers in your world, find an advisor or coach that can encourage, push, and strengthen you." - Justin Goodbread "We need coaches, no matter where we are in the game of wealth." - Justin Goodbread "Moving from second to third base is tough. The reality is we'll spend decades of our lives there, but it's worth it. Keep the journey—stay focused." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

There are so many traps along the way of the Wealth Game that could keep you from achieving financial independence. Emotions, financial habits, and lifestyle choices can all tie us down to the Wealth Game's first base and prevent us from moving to second—yet, it is not impossible. Those of us who aspire to move beyond first base have to figure out what it takes to reach second base: the stage of asset accumulation. In this episode, I discuss how we can steal second base in the Wealth Game. I explain what lifestyle creeps are and why so many people get stuck in first base. I differentiate appreciating from depreciating assets and enumerate the many ways individuals can accumulate assets. I also highlight the importance of budgeting, discuss how budgeting can liberate our financial lives, and underscore how you can begin efficiently building and accumulating assets.   "In playing the game of wealth, what we're truly after is something that appreciates in value. Otherwise, we won't get much of a lead-off from first base." - Justin Goodbread   This week on the Financially Simple Experience: A recap on home plate and first base of the Wealth Game Lifestyle creeps and the trappings of first base Understanding the power of compound interest The statistics on savings and retirement funds What the second base represents in the Wealth Game What an asset is and the differences between appreciating and depreciating assets Some examples of assets that we can grow in value Getting started in building assets that help us gain financial independence What I love about employer-sponsored retirement plans Capitalizing on the cryptocurrency buzz The importance of creating budgets and paying yourself first   Resources Mentioned: Book: The Richest Man in Babylon by George Clason   Our Favorite Quotes: "If we could teach the power of compounding interest to our children, the youth, and those whom we mentor and have the privilege to serve, we could change the narrative." - Justin Goodbread "Nothing in life is free. If it doesn't cost you money, it costs you time and emotions." - Justin Goodbread "Look where you're headed. Have a strategy, a plan, and a coach, or you'll get stuck on first base." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I vividly remember playing baseball while I was growing up. I remember hitting the ball, running the bases, and hearing the fans go crazy. And, of course, there's my dad on the sideline, jumping up and down, pumping his chest like a peacock, and shouting that he's proud of me. The wealth game can have the same effects on our lives if we play it correctly—moving from home plate to first base, then setting our eyes to second. In this episode, I discuss what it takes to move from home plate to first base. I describe the first base of the wealth game. I explain why many people get trapped in this first stage and outline how to avoid it. I discuss what a "lead-off" means in baseball and how it applies to the game of wealth. I also underscore the power of our aspirations.   "The game of wealth is super easy. Turn at first base and look at second; keep the destination in mind; don't get sidetracked by the allures of a company. Focus on what matters most: second base." - Justin Goodbread   This week on the Financially Simple Experience: The inequality of life and the goal of the first base of the wealth game How lifestyle choices can get people trapped in first base Avoiding the trappings of the first base and the value of getting a coach What a "lead-off" means in baseball Taking a lead-off from the wealth game's first base Reviewing the rules of the wealth game   Resources Mentioned: Book: Cashflow Quadrant: Rich Dad's Guide to Financial Freedom by Robert Kiyosaki   Our Favorite Quotes: "In the game of wealth, our desire is to turn first base and head towards second as rapidly as possible." - Justin Goodbread "It doesn't matter what income you make–what matters are your aspirations and visions." - Justin Goodbread "The lifestyles we choose at first base is the single detriment, the single deterrent, the single determinant for us reaching second base." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

What is wealth to you? Is it happy relationships with friends and family? Or, like Virgil, do you think that wealth is health? What about financial wealth? For so many people, the idea of financial wealth is something mystical—something that belongs to fantasy. But I genuinely believe that wealth is a game and, if we can teach people how to play it, it can be easier, less intimidating, and more enjoyable. In this episode, I discuss the wealth game and explain its rules. I define financial independence and describe the different kinds of wealth. I also outline the different stages of financial wealth and underscore why your attitude toward money can affect your wealth.   "Money is no more than a magnifier of your true character." - Justin Goodbread   This week on the Financially Simple Experience: What wealth is and the different aspects of life it entails The rules of the wealth game Defining financial independence The baseball diamond and the different bases of financial wealth How your attitude toward money can affect wealth   Our Favorite Quotes: "No amount of money is worth losing yourself. The moment you make this game of wealth about money, you've lost the game." - Justin Goodbread "Being financially independent means allowing your hard work and all your blessings—everything that has culminated at this point—to not just provide for yourself but also bless others." - Justin Goodbread "It's a privilege for us to work: a blessing to be able to toil so we can get paid—an honest day's work for an honest day's pay." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

The role of video in our everyday lives has become more and more prominent. In fact, Business Insider has observed an unprecedented growth in digital video viewership between 2019 and 2020. Yet, despite this rapid increase in viewers, we small business owners don't really tap into the power of video in marketing. I believe that if we took the time and energy to create video-based assets for marketing our businesses, we could drastically increase their value. In this episode, I discuss the power of video in marketing. I share statistics on the growing demand for video as well as the increasing viewership brought about by the pandemic. I discuss why video marketing doesn't have to be expensive and is feasible with just your smartphone. I also highlight how video marketing has helped us get quality leads and underscore why video facilitates a more connected form of communication.   "Companies who use video to improve their business increase their sales, brand awareness, retention rate, and social capital, and drive their greatest client to their door." - Justin Goodbread   This week on the Financially Simple Experience: The power and importance of video marketing How COVID-19 impacted the rapid increase of video viewership Why creating videos for marketing doesn't have to be expensive  How the service sectors can make use of video marketing for their business Why creating how-to videos can help grow your market How using videos can help in lead generation Incorporating the power of video into your business   Our Favorite Quotes: "By getting into the regular habit of sharing what you do in business with your followers, you create an unbelievable return on investment." - Justin Goodbread "The minute we started making videos, we started seeing our engagement and the quality of our leads become more impactful." - Justin Goodbread "Video allows us to be more involved and intimate. It allows facial recognition, nonverbal communication, tone, and inflection—so much more than just audio alone or just the static picture." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you're like me, you spent 90% of your time speaking face-to-face and engaging with clients and groups of people before Covid-19. When the pandemic hit, my world changed. I, like many business owners, had to transition from doing in-person communication to interacting with clients and other people through the phone or video conferencing. But if a business owner isn't using all the video capabilities an app has, they're missing out on the true power of video and visual communication. In this episode, I discuss how the pandemic has impacted the use of video conferencing for business. I describe how I did most of my communication before the pandemic and outline the advantages of phone calls. I highlight how video calls can provide a more personal experience and improve information retention and focus when conferencing. I also underscore how visual communication can help us tell stories.   "We use video to tell a story—we are in an animated world and our eyes are used to moving objects." - Justin Goodbread   This week on the Financially Simple Experience: One of my all-time favorite movies How Covid-19 changed my world and my pivot to online video conferencing  The advantages of using phone calls for quick communication How Covid-19 increased the use of video-based communication How video conferencing helps participants to stay engaged Why visual communication is highly effective in supporting memory and information retention   Resources Mentioned: ChangingMinds.org   Our Favorite Quotes: "We're able to recall, through visual effects, with 65% greater accuracy; that's why it's important to have the videos turned on when conferencing." - Justin Goodbread "Sometimes a quick phone call or a text message is all we need; but when you need to touch base on several topics, video conferencing is your best option." - Justin Goodbread "Face-to-face meetings are the best options, where we use all our senses. But in today's fast-paced world, go with the more personal conferencing with all the video capabilities on." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

David DeCelle is the President of Model FA, a community for financial advisors to come together to learn about sales, marketing, and business development from experts and other financial advisors. David and his team at Model FA are dedicated to empowering financial advisors by helping them build the practice that they envision. Before becoming President of Model FA, David was a financial advisor himself and served as the Director and Financial Advisor for Northwestern Mutual. David joins us today to share his perspective on me as a business owner and my businesses. He discusses the different reasons individuals hire business coaches and explains how having a 1-year vision could be more beneficial than having longer-term goals. He offers advice to entrepreneurs who are experiencing difficulties in life. He also describes his journey as a financial advisor and what he learned from it, as well as the importance of keeping an open mind.   "Regardless of someone's age, revenue, or personal income—or how buttoned up their business is—if you can suppress your ego and have an open mind, you can learn anything from anyone." - David DeCelle   This week on the Financially Simple Experience: The Model FA company and the advantages of hiring business coaches as thinking partners The reasons people hire business coaches Why David recommends envisioning goals in a 12-month timeframe David's advice for business owners wrestling with difficult emotions His observations on my biggest struggles as a business owner Why business owners need to onboard their employees when transitioning their organizations David's journey as a financial advisor   Our Favorite Quotes: "If we sit back every morning and write down the things we've been blessed with, we'll never finish that list because we're indeed blessed as humans." - Justin Goodbread "Every good business owner has an excellent team behind them." - Justin Goodbread "When you handle conflict directly and with grace, it can shake out for the better." - David DeCelle   Connect with David DeCelle: Model FA The Model FA Podcast Model FA on LinkedIn Model FA on Instagram David DeCelle on LinkedIn David DeCelle on Instagram   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

We business owners are a unique breed. In addition to the many plates we spin and the responsibilities we have, we want to see our businesses move forward. And, whether you realize it or not, we have a destructive habit that, if left unchecked, can undermine our dreams, our team, and our vision—and that habit is self-sabotage. In this episode, I discuss what self-sabotage is, why it happens, how to identify it, and how to limit it. I outline the roots of self-sabotage and describe how fear prevents us from seeking growth. I explain what impostor syndrome is and how it is a detriment to our chance of success. I also share different ways to overcome self-sabotage and underscore the value of self-awareness for business owners.   "When we have an abundance mindset we often never harm ourselves." - Justin Goodbread   This week on the Financially Simple Experience: How we bend our values and goals to pursue immediate gratification The negative mindset, how self-sabotage stems from it, and how to reframe it My love for pizza and the difference between conscious and unconscious self-sabotage Finding the roots of self-sabotage How fear triggers self-sabotage Impostor syndrome and how it detriments our chance of success The common forms of self-sabotage Perfectionism and how it leads us to self-sabotage Celebrating small victories and other ways to combat impostor syndrome Why micromanaging and not asking for help is self-sabotage The importance of continuing education   Related Content: How Business Owners Can Overcome Imposter Syndrome   Our Favorite Quotes: "If you're too wrapped up in menial tasks to invest in your own thought patterns, you'll fall behind your competition." - Justin Goodbread "We don't look for perfection in business—there are too many moving parts. We look for best-in-class movement." - Justin Goodbread "Perfectionism prevents the business owner from reaching good and great. Sometimes we don't have to be the best in everything; we just have to be good at some things." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I've been in the business game for over 30 years, and in that time, I've helped many business owners sell or buy businesses (I also wrote The Ultimate Sale and Your Baby's Ugly to tell the tale). However, it's one thing to write about an event and another to go through it yourself; so, when I sold my companies, I was reminded of the key principles all business owners need to consider when preparing for great business change—whether they're about to launch a new product or sell a company. In today's episode, I share the key lessons I've learned from selling my businesses. I explain why preparing your team is vital when selling your business. I discuss why your customers are your most essential source of lessons when undergoing any kind of organizational transition. I also highlight the role of attitude in a successful business sale and underscore the importance of strategic planning in a business owner's career.   "As you go through transitions and major events, your customers will be your greatest source of learning." - Justin Goodbread   This week on the Financially Simple Experience: My first trip to the Rocky Mountains in Montana The failure rate of businesses when undergoing great transitions Preparing and supporting your team through times of great change in business The importance of increasing employee engagement Letting your team be the driver of change Preparing your customers through organizational change and communicating with them The value of knowing your customers and overcommunicating with them The role of attitude in successful business transitions Being ready for extra negotiations in the process of selling your company The three special people you need in your life as a business owner How I almost cost myself six figures in taxes Writing a personal financial plan, a strategic business plan, and getting a best-in-class valuation   Resources Mentioned: Book: The Ultimate Sale: A Financially Simple Guide to Selling a Business for Maximum Profit by Justin Goodbread Book: Your Baby's Ugly: Maximize the Value of Your Business or You'll Have Nothing to Sell by Justin Goodbread Book: The Dream Manager: Achieve Results Beyond Your Dreams by Helping Your Employees Fulfill Theirs by Matthew Kelly   Our Favorite Quotes: "If your customer is with you—if they're engaged with you and your service—they will want to see you succeed as well." - Justin Goodbread "Through any time of change initiative, let your team drive the change; let your team be the catalyst. You, the business owner, set the vision, the direction, the value, and the tempo, then get out of the way." - Justin Goodbread "Before you even get to the time where you consider selling your business, you have to have everything lined up. Planning is vital to us business owners." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Patrick Brewer is the President and Chief Marketing Officer of WealthSource, a company dedicated to helping financial advisors thrive with business resources and innovative solutions. He is also the founder of the Model FA family of companies that supports financial advisors in growing sustainable businesses. An entrepreneur and speaker, Patrick is passionate about helping advisors and the people they serve realize their full potential and find financial freedom.  Patrick joins us today to discuss the factors that attracted WealthSource into buying Financially Simple, Heritage Investors, and Heritage Business Advisors. He explains how WealthSource executed its due diligence process while buying our businesses. He outlines the key characteristics that make an organization attractive to buyers. Patrick also highlights the importance of organizational culture and underscores why business owners need to continue improving themselves.   "People don't want to be sold; they want to be part of the process by being educated." - Patrick Brewer   This week on the Financially Simple Experience: Patrick's background and his work with WealthSource WealthSource: its services and its mission to help people maximize the value of their money The eight key areas of a successful business How WealthSource implemented its due diligence in acquiring our team's businesses Two methods of growth and how dynamic companies scale Decentralization and how companies can improve their workforce and leadership to attract the ideal buyer The future of Financially Simple The role of business owners in society Patrick's advice to business owners on growth and success   Our Favorite Quotes: "Companies can grow through two methods: marketing and acquisitions. Companies who make dynamic footprints do both." - Justin Goodbread "Build the business where it can operate and grow without the key stakeholders involved." - Justin Goodbread "Create systems and points of collaboration between your team, processes, and technology; that's what a buyer is looking for." - Patrick Brewer   Connect with Patrick Brewer: WealthSource Patrick Brewer WealthSource on LinkedIn Patrick Brewer on LinkedIn Patrick Brewer on Instagram Patrick Brewer on Facebook Patrick Brewer on Twitter   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

"If you had limited time and resources, what would you do tomorrow that you're not doing today?" This is a question I've thought a lot about since 2021—a time when my wife and our family experienced severe ups and downs that had us reevaluating what's truly important to us. As we evaluated what mattered the most to us, one word kept coming back to me: "impact." It has always been my mission to share knowledge and help people reach their destination; once I remembered this, I decided that it was time to make a change in my life and business. In this episode, I share some of the biggest news in my business career. I reveal why only less than 20% of business owners sell their companies and explain the reason I wrote The Ultimate Sale and Your Baby's Ugly. I explain why we hired consultants for our businesses and reveal what they taught us about the wealth gap we needed to fill. I also describe our fight with COVID-19 and underscore how the experience inspired me and my wife to reevaluate what truly matters to us.   "Life is hard, but life is good; we are blessed beyond measure. It could be frustrating, but it doesn't have to be. Let's continue making our lives financially simple." - Justin Goodbread   This week on the Financially Simple Experience: Impacting people's lives and why cemeteries are the saddest places for me The reason I wrote Your Baby's Ugly and The Ultimate Sale Why only less than 20% of business owners sell their businesses Our fight with COVID-19 and how it impacted our outlook on life What it would take for me to quit and the value of hiring consultants for our businesses Determining our wealth gap to meet our financial goals How I decided to partner with a larger organization and sell my businesses Making the ultimate sale and getting the "best-in-class" valuation   Resources Mentioned: Model Financial Advisors Book: The Ultimate Sale: A Financially Simple Guide to Selling a Business for Maximum Profit by Justin Goodbread Book: Your Baby's Ugly: Maximize the Value of Your Business or You'll Have Nothing to Sell by Justin Goodbread   Our Favorite Quotes: "We can reach our dreams; we don't have to forsake them. We don't have to lose our family, our hobbies, or our identity trying to build wealth." - Justin Goodbread "We don't have to sacrifice our family, our person, our dreams, or our aspirations on the altar of success." - Justin Goodbread "You can reach your goals. If I can do it, you can." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA").   This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Throughout my career as a business owner and entrepreneur, I've had several people ask me why I put myself through this. Some naysayers have even blatantly told me that I'll never make it. Whether you're a seasoned business person or an aspiring entrepreneur, you've probably had someone tell you the same things. But, in the world of entrepreneurship, you'll need to learn to put your earplugs on and keep working—because here, attitude is everything.   In this episode, I discuss the value of attitude in the life of an entrepreneur and business owner. I reveal the key characteristics that differentiate seasoned business owners from novice entrepreneurs. I explain how success is highly dependent on your goals and why it's essential to define what success means for you. I also highlight the value of having a vision and the role of crystal-clear plans. "Your attitude is everything. The way you approach every single day is everything." - Justin Goodbread This week on Financially Simple: Why entrepreneurship can be exhausting Why life doesn't care about your success The best practices and tricks for ignoring the naysayers (in business and in life) The relationship between success and the goals you set What makes some business owners bitter and unhappy The attitude of success and its cost   Resources Mentioned: Tony Robbins Podcast John Maxwell Leadership Podcast Les Brown Greatness Radio Our Favorite Quotes: "Success is dependent on your goals, but don't lose sight of what's important." - Justin Goodbread "Grow your business purposefully. Profitability is good and necessary, but so are people—you want somebody on your side to enjoy this journey with you." - Justin Goodbread "To achieve your vision, you must have a crystal-clear plan to achieve it. You've got to have laser focus. When you do, you can overcome the obstacles and the naysayers, and you'll never be swayed." - Justin Goodbread   About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you've come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin's combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. Financially Simple is a division of WealthSource Partners, LLC ("WSP"), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC ("WBA"). This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In episode 403 of Financially Simple, Justin looks at how your attitude as a business owner can determine your business's success. The mindset of a business owner and how they approach their dealings with their clients and suppliers will ultimately set them up for success or failure. In this episode, Justin considers the meaning of success to an individual business owner, and how that can influence their dealing with others as well as the security and prosperity of their business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - Attitude = Success: The Seasoned Owner - How Do You Define Success - Is Money Success? - Pride Poisons Success   USEFUL LINKS: Allie Taylor: The Paradox of Success Tennessee 1998 National Champions - Clint Stoerner Fumble Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year. DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 402 of Financially Simple, Justin considers the emotional and psychological impact that selling their Business can have on the Owner. You've devoted a chunk of your life to building a successful business, and now you're ready to sell it - but are you, personally, prepared for the mental shocks to come? In this episode, Justin looks at what it is like to sell a business from the emotional and psychological side of things - the sudden realization and change that comes somewhat unexpectedly. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - The Emotions of Making the Ultimate Sale - The Unexpected Weight of Emotion - Winning The Lottery - After the Initial Thrill - The Personal Side - How Will You Occupy your Time - Separating Your Identity From Your Business - Impression Management   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.   DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 401 of Financially Simple, Justin lists some of the obstacles that might impede the closing of a sale. You're selling your business, you've got an interested Buyer, so far so good - except for the other things that still need to be overcome, such as having both parties' legal counsel agree, the banks that are financing the business approve the deal, and your employees and customers are as happy about the sale as you are. In this episode, Justin looks at the potential roadblocks to a successful business sale, and how planning will help to make the process a smooth one. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________ TOPIC INDEX: - Roadblocks to Closing - Attorneys - Bankers - Employees - Customers - The Seller and the Buyer   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year. DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.  Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 400 of Financially Simple, Justin looks at how a Business Owner can map the Sales Process of their Business so that they can easily step away from it. As a Business Owner, being able to step away from your business and have it continue to run smoothly is key to making the business sellable as the processes are transferable and scalable. In this episode, Justin goes over the process of extracting yourself from the Sales Process, making sure that your team continues to follow indoor steps. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - Decentralization: Mapping Your Sales Process - The Tug O'War of Business - Letting Go of the Ropes - Defining the Sales Process - Write Out the Steps - Invite a Protegé - Remove Yourself from the Process - The Six Steps of the Sales Process   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.   DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 399 of Financially Simple, Justin goes over the different types of criteria that a Business Owner can use to define their Perfect Persona. A "perfect" buyer persona is a business's ideal client, the type of person or company that best suits the services that that business provides and aligns to the same values. In this episode, Justin looks at the various principles and methods of defining your ideal client. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - How to Create the Perfect Buyer Persona - The Theory of Constraints - The Pareto Principle - How to Define the Perfect Persona - Passion - Profitability - Procedural   USEFUL LINKS: Good to Great, Jim Collins The Theory of Constraints, Dr. Goldratt Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.   DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 398 of Financially Simple, Justin concludes his review of what a Buyer will consider when looking for a business to purchase. Potential buyers that are considering purchasing your business will look at your assets - from the location, structure, and physical assets, to the intangible as well as potential liabilities such as OHSA regulations. In this episode, Justin considers the tangible and intangible assets, and legal aspects such as taxes, industry regulations, and insurance that a buyer will want to review before making an offer for your business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - The Business Sale Process Through the Eyes of a Buyer, Part 3: The Business's Assets - Facilities - Location - Fixed Assets - Technologies - Digital Footprint - Risk Mitigation and Management - Taxes - Environmental Regulations and OSHA - Insurance and Intangible Property Protection   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO:Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES: This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on number of followers and engagement on social media, primary contribution to professional industry websites and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 397 of Financially Simple, Justin expands on the business sale prices through the eyes of the Buyer, looking at the relationship side of things. A potential buyer of your business is going to evaluate your company on a number of criteria, including the relationships that you have in place with your existing clients, vendors, and your employees. In this episode, Justin goes over these relationships and explains how each can affect the value of your business when it comes to selling. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - The Business Sale Process Through the Eyes of a Buyer, Part 2: Clients, Vendors, and Teams - Oh My! - Your Customer Mix - Customer Relationships - Vendors - The Quality of the Goods that You are Using - Employee Teams - Compensation - Development Programs - Wrap Up     USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 396 of Financially Simple, Justin begins to examine the flip side of the coin - what do prospective buyers see when they look at your business as they consider its worth. As the owner of a business, you know your company the ins and outs, the team and processes that you have in place - but have you considered what a buyer sees from the outside looking in? In this episode, Justin goes over some key points that a business owner needs to consider if and when they decide to sell their company, and what they can do to make it more appealing to potential buyers for a smooth transition. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TOPIC INDEX: - Through the Eyes of a Buyer, Part 1: The Owner - Motivation - Attitude - Expectations - Decentralization - Wrap Up     USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 395 of Financially Simple, Justin explains how you can analyze your business's performance year-on-year using five simple Key Ratios. A Key Ratio uses your business's financial data and compares the information to another data set to help determine the state of the company's finances and more. In this episode, Justin explains the five Key Ratios that you should be using to measure your business growth path from one year to the next so that you can make changes in the sectors that are required to improve the overall value of your business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:20 - Key Financial Ratios for Your Business 01:27 - What is a Key Ratio? 03:27 - Gross Profit Margin Percentage 06:36 - Net Operating Margin Percentage 09:02 - Debt to Equity Ratio 10:12 - The Quick and Current Ratios 12:28 - Your Return on Equity 16:30 - Summary   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 394 of Financially Simple, Justin takes a moment to go over what you as a business owner can do to try to prepare for the next financial crisis. National and global catastrophes that happen unexpectedly, such as the current COVID-19 pandemic or even the 2008 financial crisis can make or break a business. In this episode, Justin goes over nine ways to help you protect your business and yourself during troubling times and to even potentially come out better. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - How to Use Your Business's Revenue to Prepare to Maximize the Next Crisis 04:01 - Positioning 05:46 - Handling Company Cashflow 08:12 - Cover Expenses 09:35 - Home Emergency Fund 11:27 - Operational Expenses 14:48 - Line of Credit 16:33 - Receive Retirement Plan Match 17:26 - Fully Fund HSA 18:17 - Max Out Your ROTH IRA 19:04 - Tax Planning 20:50 - Non-Qualified Assets 23:12 - Summary 26:30 - Wrap Up   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 393 of Financially Simple, Justin talks to author Les McKeown about Predictable Success. Can the success of a business be predicted with any certainty, and if so what are the indicators or paths that can be followed to measure the progress of the business? In this episode, Justin and Les discuss Les's book Predictable Success, and cover the broad strokes of the path and indicators that Les has discovered in his many years of business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Predictable Success with Les McKeown 01:19 - Backstory 07:41 - The Umbrella Path 16:07 - Should We Strive for Predictable Success? 26:13 - Investigation, Interpretation, Implementation 32:50 - Scale 40:57 - Recommended Reading 43:25 - A Piece of Wisdom 44:44 - Wrap Up   USEFUL LINKS: Work with Our Team Les McKeown, LinkedIn PredictableSuccess.com/Justin Predictable Success, by Les McKeown Do Scale, by Les McKeown Advance Child Tax Credit Payments in 2021 NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List. The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration. This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 392 of Financially Simple, Justin looks at the five levels of leadership according to authors Jim Collins and John C. Maxwell. Do you lead your team from the front or behind? Are you highly capable or an executive? Do you need to level up your leadership to get more from your employees and improve your business? In this episode, Justin analyzes the two books on Leadership by Jim Collins and John C. Maxwell and asks the question, where do you fit as a leader in your own business? Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - The Five Stages of Leadership 02:06 - Top Down vs. Bottom Up 05:01 - The Five Levels of John C. Maxwell 05:23 - Position 05:46 - Permission 06:57 - Production 07:49 - People Development 08:54 - The Pinnacle 10:37 - The Five Levels of Jim Collins 11:18 - The Highly Capable 12:01 - The Contributor 12:43 - The Competent Manager 13:16 - The Effective Leader 14:06 - The Executive 14:28 - What Level are You? 16:38 - Summary   USEFUL LINKS: Work with Our Team 5 Levels of Leadership, John C. Maxwell Good to Great by Jim Collins Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 391 of Financially Simple, Justin talks to Paul Metler of Initiative One about facing the changes that come with running a business. Change is one of the few things you can bet on being consistent, and as a business owner being able to handle the changes that we face both internally and externally with our businesses is key to making it day-to-day. In this episode, Justin and Paul looks at the common metrics of change, and how we can guard our businesses from this constant flux. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - The Reality of Change, with Paul Metler 03:27 - Predictable Change Metrics 04:25 - A Common Catalyst 05:54 - Blowback 09:29 - Lessening the Pushback 11:37 - Where Business Owners Miss the Mark 12:43 - Accountability 13:46 - One Piece of Advice 15:19 - Focus 17:10 - Recommended Reading 18:32 - Summary 20:02 - Wrap Up   USEFUL LINKS: Work with Our Team Paul Metler, LinkedIn Initiative One The Reality of Change, Paul Metler and Fred Johnson Frankenstein, Mary Shelly Think Again: The Power of Knowing What You Don't Know, Adam Grant Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 390 of Financially Simple, Justin gives an overview of the risks one might face in retirement and what can be done to mitigate those risks. You've cashed in your chips and are ready for retirement, looking forward to living a comfortable life without the pressures of work, but what if there's a market crash, what if X Y or Z happens - will you be OK? In this episode, Justin looks at the risk and returns of retirement, what you can control to reduce the potential stresses if a market crash occurs and threatens your nest egg, and how being flexible and rolling with the uncertainties of life will help you to maintain your lifestyle. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Understanding Risk in Retirement 03:10 - Risk and Return 08:27 - What We Can Control 10:16 - The Flexibilities of Retirement 12:18 - The 4% Rule 13:31 - Am I Going to be OK? 14:29 - Key Take-Away 15:55 - Wrapping Up   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 389 of Financially Simple, Justin talks to Jonathan Addington of JM Addington Technology Solutions about Business Cybersecurity. You've probably heard of hackers and cyber scammers that target people for money or just to cause chaos, but have you taken active steps to protect yourself and your business from such threats? In this episode, Justin and Jonathan go over the basics, the most common types of cybersecurity threats business owners face, and how to go about protecting your business and your clients. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Cybersecurity, with Jonathan Addington 02:56 - What is Cybersecurity 04:49 - Case Scenario 09:58 - How to Deal With It 12:51 - The Most Common Type of Attack 15:28 - Why it's Such a Pervasive Problem 17:52 - Making a Plan 20:03 - Budgeting 21:42 - Recommended Reading 23:09 - A Nugget of Wisdom 25:26 - Summary   USEFUL LINKS: Work with Our Team JMAddington.com/FinanciallySimple Extreme Ownership, by Jocko Willink and Leif Babin About Face, by Col. David H. Hackworth Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 388 of Financially Simple, Justin and Jeff Jeter discuss some common retirement myths. When you're planning on selling your business and settle in to retirement, there might be one or two things that you've heard and believe that actually are not true, and so when the time comes you might get an unexpected shock. In this episode, Justin and Jeff consider some of the most common retirement myths that Business Owners believe, and the truth behind them. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Retirement Myths Business Owners Believe, with Jeff Jeter 02:32 - Your Baby is Ugly 03:59 - Timing, Timing, Timing 05:51 - What's Your Number 07:04 - Intent and Due Diligence 08:47 - Timeframes 10:57 - Diversification 13:00 - The Tax Triangle 14:28 - Take-aways 15:40 - Money, Money, Money 17:37 - Summary   USEFUL LINKS: Work with Our Team Jeff Jeter, WealthSource Partners Financially Simple on YouTube Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 387 of Financially Simple, Justin wraps up this Legal miniseries on preparing to sell your business. If you're thinking of selling your business in the near future, or even much further down the line, being prepared and knowing the legal issues that can arise from those eventualities will be a boon when the time comes. In this episode, Justin summarises the last few episodes covering the legal aspects of selling a business, and asked the question: are you ready? Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Are You Ready to Sell Your Business: Series Wrap Up 02:46 - The Wealth Gap 04:31 - The Value Gap 06:01 - How Value is Determined 10:41 - The Four Cs 16:16 - Ifs and Buts 19:36 - Summary 21:00 - Wrap Up   USEFUL LINKS: Work with Our Team Walking to Destiny, by Chris Snyder Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 386 of Financially Simple, Justin talks to Mital Patel of Triamicus Law about the legalities of selling your business. With the "do-it-yourself" attitude of most business owners, some of the important, complex, and difficult legal issues that crop up when selling a business can be overlooked or even ignored. In this episode, Justin and Mital go over the purchase agreement and consider the important fundamentals that must be addressed in the document so both the buyer and seller and even third parties involved are not liable for preventable issues. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - The Legalities of Selling Your Business, with Mital Patel 03:56 - What is a Purchase Agreement 06:24 - The Importance of Language in Provisions 09:11 - When is an Agreement Needed 14:17 - Be Prepared 17:10 - Other Areas an Agreement Covers 18:31 - Red Flags 21:19 - Recommended Reading 23:26 - A Nugget of Wisdom 25:07 - Wrap Up   USEFUL LINKS: Work with Our Team Mital Patel on LinkedIn Triamicus Law What Would the Rockefellers Do? by Garrett B. Gunderson Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 385 of Financially Simple, Justin talks to Dr. Grace Yum about selling her dental practices by herself. Taking the reins and selling your business by yourself can be challenging, and immensely rewarding, especially if you've taken the right steps to understand the process and your desired outcomes. In this episode, Justin and Grace discuss the events of her starting, building, and eventually selling her dental practices on her own. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Selling Your Business Yourself, with Dr. Grace Yum 03:46 - Backstory: Education, Experience, Development 09:30 - Exiting 12:04 - Seeking Guidance 13:38 - Leaving a Legacy 15:57 - Doing it Yourself 19:27 - The Buyer 21:16 - The Process 23:25 - Crossing the Finish Line 25:40 - The Next Step 31:01 - Recommend Reading 31:50 - A Nugget of Wisdom 32:54 - Summary _________________   USEFUL LINKS: Work with Our Team Dr. Grace Yum, LinkedIn Mommy Dentists in Business Selling Your Practice: The Essential Guide to Successfully out of Dentistry, by Dr. David Phelps The Energy Bus, by Jon Gordon Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 384 of Financially Simple, Justin talks to James Pugh of Pivot Capital about creating capital for your business's growth. Whether transitioning or planning the next step of growing your business, having the financing in place to support the move is vital. In this episode, Justin and James explain the role of investment bankers in increasing the value of your business, building your capital stack, and reducing risk. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Investment Banking and Business Transition, with James Pugh 03:13 - Who Do Investment Bankers Work With 06:08 - Investment Bankers as Facilitators 07:00 - The Current Market 08:16 - Risk Mitigation and Increasing Value 09:11 - Low Hanging Fruit 10:31 - Effects of COVID 12:22 - Small Market vs. Middle Market 13:01 - Tips to Increase Value 14:45 - What Should Business Owners Ask 16:07 - What is a Capital Stack 16:53 - How to Build Your Capital Stack 19:52 - Recommended Reading 21:21 - The Right Team Members 22:54 - A Nugget of Wisdom 24:36 - Summary _________________   USEFUL LINKS: Work with Our Team James Pugh, LinkedIn Pivot Capital The Handbook of Financing Growth, by Kenneth H. Marks Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 383 of Financially Simple, Justin talks to Matteo Valles a Business Broker at Sunbelt Network. Having a Broker on your side when it comes to selling your business might seem unnecessary, but the value they can add in helping value the business, assisting in getting prepared for sale, and with the sale itself, far outweighs any costs. In this episode, Justin and Matteo look at the transaction process from both the seller and buyer's point of view and give some insight into the complexities of the undertaking. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - The Business Process: Transitioning, Selling, and Buying, with Matteo Valles 02:04 - A Typical Transaction 03:39 - Intangible Assets 04:59 - Valuation 06:51 - What to Focus on as a Seller 08:30 - Looking to Buy 10:19 - Are You Really Prepared 11:51 - Expectations vs. Reality 13:08 - Banks vs. SBA vs. VCs 14:41 - Recommended Reading 15:56 - One Piece of Advice 18:09 - Strategic Buyers 18:51 - When Should a Business Owner Approach a Broker 19:36 - Wrap Up _________________   USEFUL LINKS: Work with Our Team Matteo Valles, LinkedIn Sunbelt Business Brokers Matteovalles.com mvalles@sunbeltnetwork.com How Did You Do It Truett??, S. Truett Cathy Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 382 of Financially Simple, Justin discusses Estate Planning with guest Julie Eisenhower of Triamicus Law. Estate Planning is essential for every business owner, having a legal document in place in case the unexpected happens to you or if you are the principal beneficiary of another business owner. In this episode, Justin and Julie go over the differences between Estate Planning for a business owner and a non-business owner, considerations of inheriting a business, co-mingling, and giving someone the power of attorney on your behalf. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Estate Planning, with Julie Eisenhower 02:26 - Business Owner vs. Non-Business Owner 04:37 - Case Example 08:04 - Inheriting a Business 10:57 - Co-Mingling 13:15 - Power of Attorney 16:49 - Recommended Reading 18:48 - A Nugget of Wisdom 20:10 - Wrap Up _________________   USEFUL LINKS: Work with Our Team Julie Eisenhower, LinkedIn Triamacus Law What Would the Rockefellers Do? by Garret B. Gunderson The E Myth Attorney by Michael E. Gerber Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 381 of Financially Simple, Justin introduces a series of episodes looking at the legal side of selling your business. Is now the right time to sell your business? Have you planned everything out, prepared your employees and team? Have you considered what happens after? In this episode, Justin introduces the series of episodes that will answer these questions and more, with upcoming interviews with professionals and business owners that have gone through the process. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Introduction to Legal: Is Now the Right Time to Sell Your Business? 04:26 - Tax Planning 06:58 - Business Planning 08:24 - Employees 09:13 - What if the Sale Doesn't Go Through 10:29 - After the Transition 11:42 - Coming Up in This Series 14:43 - Summary _________________   USEFUL LINKS: Work with Our Team The Ultimate Sale, Justin Goodbread Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 380 of Financially Simple, Justin looks at the top Social Media platforms for Business Marketing. There are a number of different social media platforms each catering to a different age group and or mindset. In this episode, Justin goes over each platform in turn, considering the main user group and demographics of the platforms as well as the form of media used on each, and how to leverage this data to better target your ideal customer. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Social Media for Business Owners 01:46 - Not All Social Media Platforms are the Same 03:42 - Facebook 06:33 - Twitter 10:08 - Instagram 12:17 - LinkedIn 15:03 - YouTube 18:42 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 379 of Financially Simple, Justin goes over some of the most common misconceptions regarding Social Media Marketing. Social Media platforms have grown in number and popularity in the last few years, becoming powerful tools for businesses that are able to leverage the opportunities the platforms afford. In this episode, Justin looks at reasons why business owners can be hesitant to utilize Social Media and explains why they shouldn't. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Social Media Marketing Strategies: 5 Digital Media Misconceptions 02:00 - What is Social Media 04:13 - Time 05:48 - ROI Measurement 06:37 - The Generation Game 09:39 - Platform Differentiation 12:48 - The Right Strategy for Your Business 16:29 - Create a Plan 19:25 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 378 of Financially Simple, Justin looks at five current trends in Marketing that could make your marketing strategy more effective. In recent years we've seen the business landscape change as new technology and innovation disrupts how we do business. In this episode, Justin goes over five marketing trends that have become instrumental in modern business strategies. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - 5 Trends to Make Your Marketing More Effective 05:09 - Innovation/Evolution 07:56 - Market Research 11:04 - Electronic Data 15:12 - Marketshare Disruption 18:23 - Tied to Profit 21:40 - Practical Application 23:22 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 377 of Financially Simple, Justin goes over the basics of Marketing for Business Owners. Having a business that provides a service or product is one thing, finding the people that the service or product is intended for and telling them all about it so that they'll buy the service or product is another. In this episode, Justin explains the five key aspects of marketing and their importance. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - 5 Elements of Marketing 06:05 - Create a Strategy 08:12 - ROI 09:22 - Rate of Success 11:12 - Your Target Audience 14:14 - Engagement 15:40 - Conversion 19:14 - Analyze and Refine 19:50 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 376 of Financially Simple, Justin wraps up the series of episodes on Financial Readiness by taking a look at your own finances. Having gone over all of the aspects making sure that your business is financially secure and ready for when you decide to retire or sell, it's time to check your own status. In this episode, Justin goes over the checklist of items that you must consider when planning your retirement or business exit. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Financial Readiness 04:34 - New Beginnings 07:46 - The Gap 11:39 - How Much Do You Make 13:25 - Taxes and Investments 17:30 - Personal Tax Plan 18:47 - Debt 20:54 - Insurance 22:00 - Estate Planning 23:44 - Having a Comprehensive Planner 27:17 - Wrap Up _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 375 of Financially Simple, Justin takes a look at assessing a Business Owner's readiness to leave their work. When planning to sell and exit your business, you should have all the paper work done and dusted - but are you personally ready and capable of leaving it all behind? In this episode, Justin goes over issues that a Business Owner should consider as they prepare to move on to the next chapter of their life. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Personal Exit Readiness Assessment 03:49 - Are You Ready? 05:03 - Personal Goals 06:56 - Power 08:39 - Finances 12:26 - Planning 16:55 - Insurance 17:25 - Wrap Up _________________   USEFUL LINKS: Work with Our Team Financially Simple - The Wealth Gap Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 374 of Financially Simple, Justin continues his examination of making a business ready for selling or your exit from running it. Knowing the state of affairs within your own business is one of the key fundamentals to having it ready to sell, or to continue running like clockwork in your absence. In this episode, Justin lists more of the matters that require attention - are your affairs in order, or are they in need of improvement. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Is Your Business Exit Planning Ready? Part 2 02:33 - Management Systems and Forecasting 04:27 - Company Documentation 07:59 - Expense Contracts 08:46 - Personal Knowledge 09:43 - Systems and Processes 11:07 - Compliance 12:12 - Improving Profits 16:43 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 373 of Financially Simple, Justin starts to look at the Exit Planning of your business strategy. Whether you are looking to sell your business soon, or in twenty years time, it's important to know the state of readiness of the business so that everything is in order and not a scramble to impress buyers. In this episode, Justin goes over the key aspects to consider when preparing to sell your business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - Is Your Business Exit Planning Ready? 03:01 - Valuation Expectations 06:11 - Do You Know What You're Doing After Selling 09:08 - Shareholder's Goals 11:42 - What is Going to be Sold 13:26 - Is the Business Consistent 14:59 - Are the Current Products or Services Attractive 15:45 - Credibility 16:40 - Branding 18:29 - Marketing 19:58 - Employee Management 24:12 - Financials 25:28 - Wrap Up _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 372 of Financially Simple, Justin continues to look at working with a Business Advisor and goes over the questions posed to determine a business's attractiveness. Any business owner that has started from the ground up and made their business their own might be unable to take a step back and see the business for what it is in the eyes of outsiders. In this episode, Justin goes over the question set that will be asked in order to determine the attractiveness of a business to potential buyers. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - The Business Attractiveness Question Set 04:43 - The Scoring System 07:31 - The Business Factors 17:37 - Future Prospects 23:21 - Market Factors 28:03 - Why are You Considering Selling Your Business 32:17 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter   NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 371 of Financially Simple, Justin begins a series of episodes that take a look behind the curtain of working with a Business Advisor. If you own a small business and haven't yet hired an advisor to assist you in achieving the goals that you have for the business and for yourself, perhaps you're undecided, then the following episodes will help you by explaining exactly what is provided and involved in having a dedicated Business Advisor. In this episode, Justin looks at growing the value of your business, your end goals of retirement, and how an EBITDA assessment can put you on the right track. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - What it is Like to Work with a Value Growth Advisor 02:05 - The Assessment 05:55 - A Bit of Backstory 17:11 - What are the Business's Goals 23:22 - Business Attractiveness 28:15 - EBITDA Examination 31:23 - Summary _________________   USEFUL LINKS: Work with Our Team Financially Simple on YouTube Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 370 of Financially Simple, Justin tackles the issue of Imposter Syndrome. Despite the success and accomplishments of your business, you may fee like you're a fraud or undeserving of the achievements you have made. In this episode, Justin looks at the phenomenon of Imposter Syndrome - what it is, how it can affect us as business owners, and how we can overcome it. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Imposter Syndrome 01:08 - What is it all about? 06:24 - "Because I said so!" 10:34 - Imposter Syndrome and Small Business Owners 14:43 - Types of Imposter Syndrome 17:04 - How to Overcome Imposter Syndrome 28:19 - Summary   USEFUL LINKS: Work with Our Team Kajabi Study: A Majority of Entrepreneurs and Small Business Owners Feel Like Imposters Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 369 of Financially Simple, Justin goes over the recent Child Tax Credit offered by the IRS. The IRS has made some changes to the Child Tax Credit it offers to individuals, so it provides an opportunity for small business owners. In this episode, Justin explains the recent changes to the CTC, going over who qualifies and how it affects you as a small business owner. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - The 2021 New Child Tax Credit 04:05 - Qualifications 07:54 - Providing Correct Information 08:58 - FAQs 13:42 - Should You Un-Enroll 14:18 - Summary _________________   USEFUL LINKS: Work with Our Team Advance Child Tax Credit Payments in 2021 Subscribe to the Financially Simple Newsletter Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 368 of Financially Simple, Justin explains the rates and fees of hiring a Business Advisor. Hiring a Business Advisor for their objective opinion and expertise might be a daunting prospect, however necessary in order to achieve your business goals. In this episode, Justin breakdown the costs of a Business Advisor, and provides some insight as to how you can determine their value for yourself. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 02:41 - How Much Does it Cost to Hire a Business Advisor 04:26 - Rates and Pricing 07:54 - Stats and Facts 11:57 - How are Fees Determined 20:40 - Summary _________________   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: Your Baby's Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 367 of Financially Simple, Justin answers a question on the cost of hiring a comprehensive financial planner as a small business owner. There are a multitude of benefits and gains to be had by having a financial planner as a part of your team and business strategy, however, the term "comprehensive financial planner" can be misrepresented. In this episode, Justin discusses what "comprehensive" means in relation to small businesses, and the role a financial planner should play in the success of your business - as well as what you might expect it to cost depending on a few variables. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:28 - How Much Does it Cost to Hire a Comprehensive Financial Planner 04:18 - Are They Truly "Comprehensive" 09:20 - What Makes for a Good Financial Planner 13:40 - So, How Much Will One Cost 18:55 - Specifically for Business Owners 25:34 - Summary   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 366 of Financially Simple, Justin considers the costs of having a financial advisor manage your wealth. As a Business Owner, you always have an eye on the future - your future and retirement; however, it can be difficult to decide how to manage your investments, with manager's fees differing from one service to the next. In this episode, Justin looks at the costs and weighs the benefits comparing the different options available. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - What is the Average Cost of Hiring an Investment Advisor to Manage $1,000,000 or More 03:39 - How Much Does a Financial Advisor Cost 08:56 - Is The a Cheaper Option 16:12 - Risk 21:07 - Summary _________________   USEFUL LINKS: Work with Our Team Financial Advisor Fees - US Rankings Subscribe to the Financially Simple Newsletter Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 365 of Financially Simple, Justin looks at the preparations for having a mid-year strategic meeting. The last six months have breezed by, and now it's time to take stock and assess where we are with the strategic business plan that we laid out at the beginning of the year. In this episode, Justin goes over the preparations necessary to allow you and your team to reflect on your business plan in order to effectively stay on track and achieve the goals that you had set out six months ago. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - How to Prepare for Your 6 Month Strategic Planning Meeting 05:59 - Create an Agenda 17:28 - Choose an Appropriate Location 19:34 - Have a Facilitator 23:47 - Summary   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 364 of Financially Simple, Justin provides a quick guide to creating a budget for your business. According to Small Business Genius, half of all small businesses don't have an official, written operating budget to record their expenses. Many times those business owners who begin maintaining a budget, start to see more profit because their business account is no longer a blank check for spending. In this episode, Justin goes over a four-step plan for creating and maintaining a budget for your small business.  Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:43 - Four Easy Steps to Creating a Small Business Budget 03:15 - Some Facts 06:08 - Have Separate Accounting  Software 06:57 - Profit and Loss 09:12 - Adjust the Historical to Reflect the Future 11:32 - Program the Budgeting Tool 12:09 - Summary 13:53 - Wrap Up   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter Intuit Quickbooks Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 363 of Financially Simple, Justin provides an overview of Inflation. Inflation is an economic factor that influences so much of the goings on in our business matters, yet few of us really know what it is and how it affects us and our work. In this episode, Justin gives the run down on Inflation - what it is, how it works, why it matters, and how business owners can respond to changes in the rate of Inflation. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - Is Inflation Approaching? 01:46 - What is Inflation 03:43 - Why Measure Inflation 05:19 - Why Does it Matter 06:41 - Indicators of Inflation 11:58 - Responses to Inflation 14:54 - What About Our Businesses 17:19 - Example 20:04 - Wrap Up   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 362 of Financially Simple, Justin gets digital, giving an overview of Cryptocurrencies. In recent years we have seen the rise of digital currencies like BitCoin, but amidst all the noise, as people have rushed to embrace this new technology, few have stopped to understand it and ask whether or not cryptocurrencies are a legitimate investment opportunity. In this episode, Justin explains what cryptocurrencies are, how they work and provides some guidance on whether or not these digital coins are a good investment. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:52 - Should Business Owners Go "All In" On Cryptocurrency 02:50 - The Block-Chain 07:53 - Cryptocurrency 11:35 - What's the Fuss All About? 13:23 - Are Cryptocurrencies a Good Investment? 16:02 - If Not Now, When? 18:07 - Have An Investment Philosophy 22:45 - Diversification 24:45 - The 7 Basic Asset Classes 28:31 - So, Should You Invest? 29:24 - Summary   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 361 of Financially Simple, Justin continues the allegory of his fishing trip in relation to Business Owners setting out and seeking better waters. If you've had to pivot, or change course and deviate from the business plan you had crafted, you will inevitably have to deal with some negativity and noise from the naysayers. In this episode, Justin shares his experience setting out to find better fishing grounds, and likens it to Business Owners and Entrepreneurs who are charting a new course, giving some guidance on how to succeed. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - When You Leave The Shore, Expect To Hear Some Noise 02:30 - The Types of Noise You May Have to Deal With 13:29 - How to Succeed Despite The Noise: Visualize Your Dreams 17:34 - Value Endurance 19:15 - Mental Strength 21:45 - A Word of Caution 23:41 - Summary   USEFUL LINKS: Work with Our Team The Reality of Change, by Fred Johnson and Paul Metler Start with Why, Simon Sinek    Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 360 of Financially Simple, Justin shares his recent fishing adventure. The last year or so has been unprecedented and extremely tough for business owners, with many having to make difficult decisions in order to keep on track with their business plans. In this episode, Justin recounts battling a Bull Shark, and likens the experience to handling the challenges many business owners are facing - you could cut loose, or just take it head-on. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - Sometimes You Have to Fight The Shark 10:22 - So, What Do You Do? 13:44 - What's Your Shark 15:38 - Wrap Up   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 359 of Financially Simple, Justin takes a look at the Business Cycle. To paraphrase The Byrds, to every business there is a cycle, and knowing at which stage of the cycle your business is at can help you to move on to the next stage and also avoid the bad phases. In this episode, Justin goes over each stage of the Business Cycle, highlighting the importance of recognizing when you're headed for a rough patch and how you can continue on a smooth growth path. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - The Business Cycle 03:10 - Launching Your Business 05:13 - The Growth Phase 05:56 - The Washing Machine 08:53 - Auto-Pilot 11:11 - Atrophy 12:34 - Recovery 13:55 - Summary   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 358 of Financially Simple, Justin answers a listener's question regarding Formal and Informal Valuations. If you are planning on selling your business, having the business accurately valued is important to determine its worth in order to get a fair offer. In this episode, Justin compares Formal and Informal Valuation criteria, and gives a breakdown of each. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - Formal vs. Informal Valuation 02:45 - What is a Business Valuation 04:55 - What is Value 07:18 - When are Valuations Needed 09:12 - The Difference 15:30 - Summary   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 350 of Financially Simple, Justin talks to The Go-Giver author Bob Burg about the importance of Leadership in a business. While the objective of a business is to make money, it is not the most important factor when deciding how to run a business. In this episode, Justin and Bob ask the important questions that result in money being the by-product of the answers and subsequent actions. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:42 - Leadership, with Bob Burg 04:03 - "Does it make money?" 08:11 - A Bit of Backstory 14:51 - Coaches and Mentors 22:17 - Always Learning 26:46 - A Pearl of Wisdom   USEFUL LINKS: Work with Our Team The Go-Giver, by Bob Burg and John David Mann Subscribe to the Financially Simple Newsletter Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 344 of Financially Simple, Justin gives an overview of how a Business Owner can go about letting go of some of their responsibilities. Burn out and stress are two common issues Business Owners face in the running of their company, and as the business grows there comes a point when you can't continue to do everything and will need to start delegating tasks in order to maintain that growth. In this episode, Justin explains how you as a business owner can begin relinquishing control over areas of your business, and handing those responsibilities to other team members so that you can have more time to focus on the work you want to do. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:46 - How a Business Owner Can Relinquish Control of Their Company 01:29 - Key Points 02:33 - Delegation 07:57 - How Do We Relinquish Control? 12:35 - Summary   USEFUL LINKS: Work with Our Team Financially Simple Energy Audit Erisaminer Webinar - Sign Up   Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 343 of Financially Simple, Justin gives a quick explanation of why keeping Meeting Minutes is useful as a Business Owner. Who said what, when, where, and what happened next - knowing these things from your business meetings is important to keep track of important decisions and growing your business successfully. In this episode, Justin explains how to keep meeting minutes effectively. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:46 - How to Keep Effective Meeting Minutes 01:54 - Who is Required to Keep Minutes? 03:05 - What Should be Included in Meeting Minutes? 03:34 - Putting it into Practice 07:04 - Keeping a Record 09:04 - What Do You Do With Your Minutes? 09:47 - Wrap Up   USEFUL LINKS: Work with Our Team Erisaminer Webinar - Sign Up Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 342 of Financially Simple, Justin looks at improving efficiency with effective time management. Time is money, as the saying goes, and most business owners would agree that they would rather use their work time effectively rather than squander it on frivolous tasks. In this episode, Justin explains how having a schedule that is properly organized to manage your time between work and life will improve your efficacy and happiness. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:46 - How Small Business Owners can Build a Schedule for Maximum Efficiency 06:54 - Time Management 07:59 - Decide When To Work and When Not To 10:00 - Block Out Your Schedule and Inform Your Team and Clients 11:19 - Schedule High Priority Items at Peak Times 12:59 - Provide Blocks in Your Daily Schedule 14:41 - Build an Efficiency List 17:05 - Delegate Low Revenue Activities 17:40 - Refine Your Schedule 18:13 - Summary   USEFUL LINKS: Downloadable Productivity Worksheet Work with Our Team Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 341 of Financially Simple, Justin goes over the benefits of having an Operations Manual for your business and how to use technology to make the process easier. Having an Operations Manual for your business can make your life as the owner much easier, as the manual helps to bring new hires up to speed on the processes that you currently use. Furthermore, the manual will help the new CEO or owner of the business understand how you run things when you sell or retire. In this episode, Justin explains the reasons why having an Operations Manual is important and gives tips on how to use technology to document the processes that you use. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:50 - How to Use Technology to Accelerate Your Operations Manual 04:29 - What's in the Operations Manual? 06:31 - Does it Matter? 09:59 - Where to Start 15:07 - The Results 17:00 - Summary   USEFUL LINKS: Work with Our Team Eli Goldratt - The Goal Subscribe to the Financially Simple Newsletter   Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 340 of Financially Simple, Justin looks at the three main causes of stress for small business owners. Running your own business is incredibly stressful, there are so many factors that you as a business owner must consider daily and it can take a toll if you don't manage yourself and your business effectively. In this episode, Justin goes over the three biggest stress factors for small business owners and offers guidance on handling it all to avoid burnout. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:46 - How to Stop Stress as a Business Owner 01:08 - Why are We Stressed Out? 01:56 - Cashflow Concerns 04:18 - Tax Regulations 06:29 - Time Management 11:49 - Wrap Up   USEFUL LINKS: Work with Our Team Subscribe to the Financially Simple Newsletter [BOOK] Financially Simple's The Ultimate Sale - Selling your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 339 of Financially Simple, Justin considers why Business Owners' personal finances can be such a mess. Running your own business is like spinning plates, there's a lot going on and if we don't pay attention something gets overlooked and crashes, and, oftentimes, this is our own financials. In this episode, Justin looks at reasons why the business owner's personal finances are usually overlooked, and gives some ways to address the problem. There are many different ways that business owners can allow owning a business to harm their personal finances. For the sake of time, I'm only going to outline a few of the primary offenses that get business owners into personal financial trouble. If you read through this list and find that you can personally relate to any of them, don't worry. I'm going to follow up with ways to help you protect yourself, so you don't end up looking at your personal finances in your 30s or your personal wealth in your 40s, 50s, or 60s and think, "I'm going to have to work well into my 80s!" Operating your business as a sole proprietorship. Leaving your business unincorporated means that you and any partners you might have in the business are personally responsible for any business debts. This may seem like something you can control, but what happens when you find yourself on the wrong end of litigation? Use personal lines of credit to finance your business. Full disclosure, I've done this before. The problem is that it can lead to massive amounts of personal debt and limit your ability to secure financing in the future. Providing a personal guarantee to a lender. Like the previous two offenses, personally guaranteeing a loan places your personal finances directly in the cross-hairs of your creditors. Even if the business is dissolved, you will be held liable for any outstanding debts that you've guaranteed. Being unprepared for an unbalanced cash flow. Some businesses have an unbalanced cash flow. These are typically seasonal in nature, like water parks, landscaping companies, and outdoor sports shops. But cash flow is vital to your business. In fact, 82% of failed businesses cite a lack of cash flow as the primary reason they failed. Business owners can often cause serious harm to their personal finances by not preparing for the lean times that come in the "down" months of a business with an unbalanced cash flow with an emergency fund. How Do We Protect Ourselves? Now that we have an idea of some of the typical ways business owners harm their personal finances through their businesses, let's shift gears. As business owners, what are the simplest ways to protect our personal finances from our businesses? How do we protect ourselves? Finances don't have to be difficult. So, whatever season of life you find yourself in, protect your personal finances. Pay yourself first and move on from there. Create an entity. I know operating as a sole proprietorship is easy. However, there's a tradeoff for that. In my opinion, the risk outweighs the reward. Whether it be a partnership or an LLC., you're protecting yourself from personal liability by creating an entity. Filing within your local jurisdiction is simple, and it provides you with the protection of a corporate veil. Build an emergency fund. This is finance 101. Like I said before, pay yourself first. You might think you don't need to keep very much liquidity, but that's what many of us thought before COVID-19. If you have 3 - 6 months' worth of expenses stashed in an emergency fund, you can typically handle the curveballs that life throws at you. Be sure to have enough insurance coverage. Having the correct insurance coverages is extremely important, but so is having enough coverage. All it takes is one lawsuit, one catastrophe to wipe out your personal finances. If you're unsure whether you have the right coverage or enough of it, speak with a licensed insurance agent. Don't sacrifice your retirement savings. I realize that many of you view your business as your retirement savings, but I want to unpack a couple of things here. I work with 50 to 60-year-old business owners all the time and their retirement savings compared to their non-business-owning counterparts are abysmal. But if you diversify your income, placing some of the money into retirement accounts, those accounts are often off-limits to creditors. Furthermore, retirement isn't a "get rich quick" scheme. Use the "slow money" of Wall Street to protect your future from the possibility that your business doesn't sell. By investing in retirement accounts, you can take advantage of the eighth wonder of the world... compounding interest. Keep debt to a minimum. I hate debt. To me, debt is a four-letter word. However, I am aware that there are times when taking on debt makes sense. Regardless of your personal view of debt, whether you're 100% against it or see it as an opportunity to leverage, keep it to a bare minimum. As we wrap this up, I hope you've taken a good hard look at a very personal subject. You might be one of the fortunate ones that can look at this subject and say, "I'm doing great!" If you are, then I applaud you. But, maybe you've seen some things that you don't like. If that's you, what are you going to do about it? What are you going to do today to change the trajectory of your life? What you do today can affect your personal finances in your 30s or your personal wealth in your 40s. It will likely impact your retirement when you've reached your 60s. Believe it or not, these aren't uncommon issues for business owners. I see it day in and day out. We help business owners put their personal and business finances on track to work in unison to reach their goals every day. We aim to teach business owners how they could double their net worth every 3 - 5 years. If you would like to learn more about how we can help you, reach out to us! Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:46 - Life as a Business Owner Has Wrecked My Personal Finances 02:42 - How Did We Get Here 03:41 - The Primary Offenses 07:57 - How Do We Protect Ourselves 08:29 - Make an Entity 08:54 - Build an Emergency Fund 09:53 - Have the Correct Insurance Coverage 10:18 - Don't Sacrifice Your Retirement Savings 14:22 - Keep Debt to a Minimum 16:06 - Summary   RESOURCES: Work with Our Team Subscribe to the Financially Simple Newsletter NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 338 of Financially Simple, Justin looks at the main reasons that a small business will likely fail within the first few years. Failure to plan is planning to fail, and never is this more true than with new businesses that start out without proper planning. In this episode, Justin lists the seven main reasons that small businesses don't last more than a few years and offers solutions to overcome each of the issues. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - 7 Reasons Small Businesses Fail 02:58 - Failure to Create a Business Plan 05:13 - Failure to Investigate the Market 07:21 - Financing Obstacles 08:33 - Poor Marketing Decisions 09:57 - Failure to Innovate 12:06 - Expanding too Quickly 13:11 - Poor Management 14:47 - Summary   RESOURCES: Work with the Financially Simple Team Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 337 of Financially Simple, Justin goes over having a vision for your Business. The majority of Small Business Owners begin with an idea of their business, and this vision of what could be inspires and motivates them to start and to keep going. In this episode, Justin talks about having a vision for your business and how it can drive your team forward to be a success, as well as some advice on keeping the vision alive. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:44 - Can You Cast Vision as a Business Owner 02:02 - Personal Example 05:55 - Define Your Vision 08:38 - Be Inspiring 10:23 - Follow Up Consistently 12:01 - Summary   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit Financially Simple Business Planning Course _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 336 of Financially Simple, Justin talks to David Kent of Heritage Investors about the Power of Two to Influence One. Two heads are better than one, so the saying goes, and as a business owner running your own business it can be helpful to have a second in command to free up your own time and resources and to make the business more efficient. In this episode, Justin and David introduce and explain the concept of The Power of Two to Influence One, and how it can improve your business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:58 - The Power of Two to Influence One 02:22 - Numbers Matter 05:19 - The Concept 11:45 - How it Works 17:43 - Reducing Owner Dependence 21:21 - Wrap Up   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit Financially Simple Business Planning Course _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 335 of Financially Simple, Justin continues his examination of Wall Street as an investment option for Business Owners. Investing in your own business can only get you so far, especially when the vast majority of small businesses won't sell which can jeopardize the owner's retirement plans. In this episode, Justin looks at Wall Street as an option for Small Business Owners to invest in as part of their retirement plan. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:45 - Business Owners and Wall Street: The Love-Hate Relationship 01:32 - What is Wall Street? 06:34 - What This Means for Business Owners 07:19 - The Wall Street Model 11:17 - Retirement Options 13:59 - Summary 16:38 - Wrap Up   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit Financially Simple Business Planning Course _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.

In episode 334 of Financially Simple, Justin asks the question Why Do Business Owners Hate Investing in Wall Street? In the light of past and recent events involving the financial advisors of Wall Street, it's a wonder how anyone without a hedge fund can trust the stock market. In this episode, Justin looks at reasons why Business Owners in particular are hesitant to put their hard earned cash into an investor's hands. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:50 - Why Business Owners Hate Investing in Wall Street 01:20 - Personal Reasons 03:26 - Invest in Your Own Business 05:40 - Trust 07:56 - Politics 09:13 - Control 10:42 - Summary   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit Financially Simple Business Planning Course _________________   BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.