The Justin Goodbread Show
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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.
* 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.
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.
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.
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.
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.
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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ __ __ __ __ __ __ __ __ __ __ __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread SUBSCRIBE HERE: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter https://twitter.com/justingoodbread Subscribe Here: Apple Podcast https://pod.link/1332958360.apple Spotify Google Podcast iHeart Radio Stitcher https://pod.link/1332958360.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: __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter Subscribe Here: Apple Podcast https://pod.link/1332958360.apple 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: __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter Subscribe Here: Apple Podcast https://pod.link/1332958360.apple 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: __ __ __ __ __ __ __ __ __ __ __ __ 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 https://financiallysimple.com/newsletter/ Facebook LinkedIn Twitter Subscribe Here: Apple Podcast https://pod.link/1332958360.apple 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.
