Expensive Advice with Adam Rundle: Recent Episodes
Adam Rundle
Expensive Advice is a podcast where you’ll hear the kind of insider conversations you can’t hear anywhere else. Hosted by Adam Rundle founder of Clever Profits – a financial advisory firm serving wealthy successful founders and business owners. He’ll be talking to leading industry experts, business leaders, and founders about the secrets and stories they don’t normally share. With access to these kinds of great stories, he’s looking to avoid expensive mistakes and have fun along the way. Join me.
Andrew Gazdecki is the CEO of MicroAcquire, a company that helps startups get acquired in as little as 30 days. The company has closed over $ 500 million worth of deals and aims to establish itself as the most founder-friendly acquisition marketplace for startup owners. Andrew has always been an entrepreneur, which started in his teen years when he started selling on eBay. His first official experience as an entrepreneur was when he founded Bizness Apps in 2010, which was successfully acquired in 2018 by ESW Capital. Andrew is also the author of Getting Acquired: How I Built and Sold My SaaS Startup, where he talks about how he founded a startup without any real work experience.
Andrew joins me to discuss where his entrepreneurial journey started and how building iPhone apps eventually led to his big financial break. He shares his thoughts on the luck aspect of owning a successful business and explains that startups are more about motivation and grinding than intelligence. He also describes why he saw Blockchain as ‘the next big thing’ a few years earlier and shares actionable advice to entrepreneurs building a business while raising a family.
“Building startups is a game of mental endurance, taking care of yourself, and not getting too high on the wind.”– Andrew Gazdecki
This week on the Expensive Advice Podcast:
- Andrew’s entrepreneurial journey
- How the iPhone inspired Andrew to build apps as a career
- Andrew’s thoughts on being lucky as a business owner
- Blockchain and how its potential is like the smartphone and the internet
- Andrew’s perspective on being positioned to sell from day one
- The importance of enjoying your work as an entrepreneur
- Andrew’s advice to those new to building a startup
- What’s in the pipeline for MicroAcquire?
- Andrew’s advice to entrepreneurs juggling building a business while raising children
Connect with Andrew Gazdecki:
- MicroAcquire
- Andrew Gazdecki on LinkedIn
- Andrew Gazdecki on Twitter
- Andrew Gazdecki Official Website
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Selling a business is often a standard process, but not if you’re selling a personal branded business—especially if it has your name on it. The awkward and complex processes involved in transferring ownership of such a business can be further exacerbated by emotional resistance. How do you go about selling a personal branded business? What should you do to separate from a company named after yourself?
In this episode, I share my thoughts on selling personally branded businesses and what owners can do to ensure the transition is smooth for both the buyer and seller. I outline the different options for sellers and why it’s critical to have succession plans. I discuss how to find the value in the company you’re selling and why your competitors are a good reference. I also describe why rushing your succession plan is a bad idea.
“If you’re a personal branded business, don’t be discouraged by this notion that you can’t exit.”
– Adam Rundle
This week on the Expensive Advice Podcast:
- The selling options available for personally branded businesses
- Creating succession in your business
- Finding the value of your business during the selling process
- Some of the most effective ways of moving away from your business
- How competitors can help you sell your business
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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The overarching goal of every business plan is to make more money. One of the critical ways of determining if your company is operating on a profit is by checking its profit and loss statement (P&L). The P&L is a summary of incurred losses and earnings over a period. What does the perfect P&L look like, and what metrics should you use to see if you have it?
In this episode, I define the perfect P&L and describe how we use it for our clients in Clever Profits. I explain how this concept originated and how it’s designed to maximize a company’s profitability. I describe the various metrics to use to determine P&L. I also share best practices in analyzing business performance and how to get the outcome you set out for.
“The perfect P&L is the foundation of a framework to maximize the performance of businesses and clients we’re working with.”
– Adam Rundle
This week on the Expensive Advice Podcast:
- Understanding how the perfect P&L works
- Where the concept of the perfect P&L started
- How to use the perfect P&L to maximize profitability
- Why profitability isn’t the end all be all
- The variables used to determine perfect P&L
- Finding your company’s key drivers for higher profits
- Knowing your profit margins and other questions to analyze performance
- Applying reverse engineering to identify your desired outcome
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Buying a company is always exciting—the prospects of growth and inheriting something already established and ready on day one can offset the pressure of starting a business from scratch. However, particular risks are associated with purchasing an organization. What are the common mistakes buyers make in company acquisitions? How do sellers ensure that their companies are sold on their terms?
In this episode, we discuss common setbacks in buying a personalized brand of business. We identify the questions buyers and sellers should ask before proceeding with a transaction. We explain how the concept of succession planning applies to acquisitions. We also describe how owners can protect their best interests during a business transaction.
“Most people don’t like approaching competitors, but that might be the best avenue for you to get the best value out of your exit.”
– Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
- How to separate the owner from the business
- Defining succession planning and why it matters in business transitions
- Preparing yourself by way of succession planning
- Selling only parts of your business upon exiting
- Surrounding yourself with the right people to get your desired outcome
Connect with Matt Smith and Jean-Luc Johnstone:
- Matt Smith on LinkedIn
- Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Business owners tend to overvalue their companies when it’s time to sell them, which can be a problem when a buyer is interested and both parties collide on how much the business really costs. To avoid this conflict, you must first see your business from a buyer’s perspective. It all starts with knowing the difference between your company’s value and price.
In this episode, I discuss the critical differences between value and price in the context of selling a business. I explain the importance of knowing your buyer’s perspective before, during, and after the sale. I share some of the questions buyers ask when they’re interested in your company. I also describe why SaaS companies aren’t valued for their profitability.
“A seller and buyer have a certain view on the value, and they don’t quite align.” – Adam Rundle
This week on the Expensive Advice Podcast:
- The similarities and differences between price and value
- How to use price and value when selling a company
- Questions to think about when buying something
- Why SaaS companies are valued on revenue as opposed to profitability
- What a seller is actually selling a buyer
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Whether you’re on the selling or buying side of an acquisition, the details in between can get a little too complex if you don’t have the right people giving you advice along the way. That is why there are many instances where transactions fall through. How do you avoid disputes arising before, during, and after an acquisition?
In this episode, we discuss the ten common mistakes business owners make in acquisitions and how to prevent them from happening. We describe the challenges of leading a business in the middle of an acquisition. We explain why most owners don’t know why they’re selling their companies in the first place. We also offer insight on understanding how the buyer’s idea of your company’s value differs from yours.
“Just because you know your business the best doesn’t mean doesn’t mean you’re the best at selling it.” – Matt Smith
This week on the Expensive Advice Podcast:
- The difficulty of keeping things balanced when handling your first deal
- What to be aware of during the first offer
- Understanding the value of your business
- Knowing how your buyers value your business
- Knowing the value of the culture after the business is sold
- Hiring the right person to sell your business
- Why most owners don’t know why they’re selling their business
- Being aware of business blindspots during transactions
Resources Mentioned:
- Stock Sale vs Asset Sale with the Advisory Team
Connect with Matt Smith and Jean-Luc Johnstone:
- Matt Smith on LinkedIn
- Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Deezer
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Being a good leader means adapting to disruptions and initiating changes that benefit the organization and its people in the long term. However, conjuring optimal transformations and actually applying them are two different beasts. One wrong move, or one change done too hastily, can lead to friction between you and your workers. How does a leader manage change without being on the receiving end of employee resistance?
In this episode, I explain how leaders can manage people as they apply changes to the organization. I describe how 2022 has been a year of change for CleverProfits. I outline the factors to consider when thinking about restructuring an organization. I discuss how to address any resistance or confusion during the transition period. I also share the importance of consensus and having resources when making changes.
“By nature, leaders may overlook resources or incentives or skills people have because they’re so focused on vision.” – Adam Rundle
This week on the Expensive Advice Podcast:
- The process of managing change in 2022 for CleverProfits
- Navigating changes effectively to get to the outcome we want
- What you need to execute the changes you want to see in your organization
- Addressing the confusion experienced by your team when instituting change
- Making sure you see every blindspot when making organizational changes
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Deezer
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EA031 – Planning for Parenthood and Beyond with Kaitlyn Carlson
Kaitlyn Carlson, CFP®, CEPA®, AWMA, is the CEO and founder of Theory Planning Partners, a boutique wealth advising company that caters explicitly to top female entrepreneurs in the United States. Kaitlyn founded the business after observing the vast support for male multi-millionaires and billionaires, seeking to help close the gap for their female counterparts. Kaitlyn specializes in exit planning, which involves helping business owners plan for the sale of their businesses with a focus on retirement.
Kaitlyn joins me today to describe her professional journey and why she pursued a career in wealth creation and retirement planning. She explains what motherhood is like and how she manages to balance her family and career. She differentiates between building an enterprise and a lifestyle business. She discusses the type of clients she likes to work with and what it means to be intentional in wealth management. Kaitlyn also reveals what parents can learn from their children and how it can translate to their professional lives.
“Your savings is going to be what secures your financial independence.” – Kaitlyn Carlson
This week on the Expensive Advice Podcast:
- Kaitlyn Carlson and how she found her way into the financial industry
- How pregnancy and parenthood change your career plans
- Building an enterprise versus a lifestyle business
- The best time to start preparing for retirement
- Having intentionality behind your financial planning
- The tipping point in the private wealth space
- Kaitlyn’s thoughts on money and whether you can have too much of it
- How to wrap your mind around starting from the bottom
- What parents can learn from their children
- Kaitlyn’s upcoming projects and thoughts on motherhood
Connect with Kaitlyn Carlson:
- Theory Planning
- Kaitlyn Carlson on LinkedIn
- Email: kaitlyn.carlson@theoryplanning.com
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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EA030 - Debt's Impact on the Selling Process with the Advisory Team
When a company needs to scale, it will almost always incur debt. This adds a layer of risk when purchasing a company, as you also have to consider inheriting that debt. While debt itself won’t make the transaction volatile, owners and advisors should assess whether it would be to their advantage to proceed. What are the questions you have to ask about debt? Can you decide to pass on debt?
Today, we describe our thoughts on buying companies in debt and the factors owners and their advisory teams need to consider before proceeding with the transaction. We explain why being in debt isn’t necessarily a problem. We share some ways to mitigate the risks associated with buying a business in debt. We also discuss commonly overlooked details in business valuations and why advisors can’t just make assumptions.
“Debt isn’t always a bad thing, so don’t be scared of it. Just know how to deal with it.” - Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
Debt and the factors to pay attention to during a business sale Questions you must ask when dealing with company debt Factoring the value of the debt into the final purchase price What people overlook in determining the value of a business What buyers can do if they don’t want to inherit existing debt Why it’s challenging to make assumptions as advisors
Resources Mentioned:
Stock Sale vs Asset Sale with the Advisory Team
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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Sean Pastuch is the founder and CEO of the company Active Life, the self-described bridge between healthcare and fitness. Sean conceived Active Life out of the need to innovate the current medical model by incorporating an emotional approach to pain management. He earned a degree in Chiropractic Care from Northeast College of Health Sciences and has worked for various fitness organizations, including CrossFit. Sean is also a coach educator to athletes and has extensive experience working in strength conditioning and physical rehabilitation.
Sean joins me today to describe why the fitness industry alienates those who aren’t at peak health despite claiming to be inclusive. He shares how Active Life helps those who feel bullied by the fitness industry and highlights the projects they will focus on in the coming months. He defines financial freedom and explains how fatherhood taught him about controlling emotions and much more. Sean also describes why saying “my team” isn’t as inclusive as it sounds.
“Everyone needs a different level and tone of communication; you have to ask the questions to get the answers. You can’t just make the assumptions.” - Sean Pastuch
This week on the Expensive Advice Podcast:
The origin of Sean’s last name The bullies Sean sees across various industries Why Sean started Active Life and the people he wants to help The team elements of one-on-one sports Projects Active Life will commit to in the future How team sports compare to business and parenting Gym membership statistics and the average joining age Helping gym goers who are 40 years old and up Sean’s definition of financial freedom and his vision What Sean learned from being a father Why you should stop saying “my team” How Sean documented their company culture Sean’s experience working with our team
Connect with Sean Pastuch:
Active Life Sean Pastuch on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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EA028 - Creating Executable Plans for Your Business
When we are trying to achieve any goal, we need to go through a planning phase. Whether the goal is to add a new revenue stream, launch a new product or service, or develop a new marketing campaign, strategic planning is the key to success. But there is a difference between planning effectively and theoretically—and the former is significantly more impactful than the latter.
This week, I discuss the difference between effective planning and theoretical planning. I explain why the best plan is the one that can be executed and why theoretical planning rarely helps us to achieve our goals. I reveal why it’s impossible to consistently create successful plans and how sometimes, business owners and executive leaders focus on the wrong aspects of planning for their businesses. I also underscore the key aspects to consider to determine if your plan is easily executable.
“The plan that can be executed is always going to be more successful than some theoretical plan.” - Adam Rundle
This week on the Expensive Advice Podcast:
Effective plans versus theoretical plans The challenges of consistently creating successful plans for your business The challenges associated with practical planning What to consider when creating an executable plan
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Every business owner must have a firm grasp of their company's earnings—be it monthly, quarterly, or annual. There are plenty of metrics you can use to determine your profits and losses, and among them is what we call Seller's Discretionary Earnings or SDE. What is Seller's Discretionary Earnings? How do you compute your company's SDE, and how reliable is it as a measurement of earnings?
Matt and Jean-Luc join me today to break down Seller's Discretionary Earnings and their purpose in business valuations. They share similar metrics accountants and advisors use in valuations and what makes SDE unique. They explain the best time to use SDE and the key differences between taxes and valuations. Matt and Jean-Luc also describe an experience with a client who put jewelry as part of business expenses.
“Seller’s Discretionary Earnings seeks to add back all owner’s benefits and compensations.” - Matt Smith
This week on the Expensive Advice Podcast:
Why SDE is more important the smaller a company is Normalized Earnings and its importance to investors The difference between Normalization and SDE The right time to use SDE over other financial metrics What EBITDA is and its importance Our advisory team’s experience valuing client finances The difference between taxes and valuations
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Adrienne Richardson owns Powerplay Media, a digital marketing company specializing in Facebook and Instagram ad optimization for business growth. Due to her lead generation expertise, her clients have generated over $50 million in new revenue over the past eight years. Before becoming an entrepreneur, Adrienne served in the Air Force as a paramedic from 1995 to 2002. She later graduated magna cum laude from Rowan University with a degree in Public Relations.
Adrienne joins me today to explain how she got started in digital marketing and what made her pursue a career specializing in Facebook and Instagram. She reveals why she’s not in a hurry to include other social media sites as part of her services. She describes the women who inspired her to become a digital marketing specialist. She discusses the value of being niche in any industry. Adrienne also shares what it was like being an entrepreneur and a mother to a newborn.
"The skillset and natural abilities I have—I didn't know they would translate into what I'm doing now in this way." - Adrienne Richardson
This week on the Expensive Advice Podcast:
How Adrienne got started in digital marketing Adrienne's experience in the military and what she learned Adrienne's struggles with raising a child and finding work How Adrienne learned from Facebook ads What Adrienne hopes to accomplish soon Adrienne's strategy for using social media like Facebook What Adrienne would change if she had to do it all over again Why Adrienne hesitates using other social media sites The value of being niche in the digital marketing space Adrienne's thoughts on being a mother and a business owner
Resources Mentioned:
Sandy Digital Marketing Codie Sanchez
Connect with Adrienne Richardson:
Powerplay Media Adrienne Richardson on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Buying or selling companies can be complicated, but it all boils down to two primary transactions: stock sale and asset sale. Both have their fair share of pros and cons, but when is it better to buy and sell one over the other? What risks should be considered from a buyer’s perspective? What would benefit the seller the most? What would make both parties mutually benefit from the transaction?
Matt and Jean-Luc from our Advisory Team join us today to explain the benefits and drawbacks of making a stock sale versus an asset sale. They share the best time to make either sale and what buyers and sellers should consider regarding liability and taxes. They discuss the causes of a transaction falling through and how to avoid them. Matt and Jean-Luc also underscore why you should always prioritize what you want out of the deal, whether it’s a stock or asset sale.
"You should do the deal based on what you want to buy or sell. The main focus of the deal shouldn't be stock or asset, but a byproduct of what you want to get out of the process." - Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
The difference between stock and asset sales When it makes more sense to buy stocks over assets and vice versa Why a stock sale is better for both the buyer and the seller What to consider for a stock or asset sale Avoiding liability through an asset deal How taxes are handled in stock and asset sales The importance of having a legal team involved The causes of a deal falling through
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Patrick Campbell is an entrepreneur as well as the Founder of ProfitWell, a company that provides business intelligence solutions that boost retention and monetization automatically through subscription financial metrics. He has extensive experience in pricing strategy, analysis, and online marketing. Before starting ProfitWell, Patrick was an economist at Google and the US Intelligence community. He also led Gemvara’s Strategic Initiatives.
Patrick joins me today to explain how to find your mission in life as a person and entrepreneur. He shares how ProfitWell helps grow client businesses automatically. He discusses the late Queen’s passing and the opportunities he saw while watching the live coverage. He underscores the importance of building a morning routine and its purpose. Patrick also describes the insecurities entrepreneurs experience and what he does to overcome them.
"Without a mission in life, what the hell are we doing?" - Patrick Campbell
This week on the Expensive Advice Podcast:
How ProfitWell helps companies grow automatically Patrick's thoughts on recent events and the opportunities he saw Why Patrick doesn't talk about company transitions Finding purpose by having a mission in life The opportunity difference between South Africa and the United States Patrick's daily routine and why he sticks to it How you can control where your attention goes The insecurity entrepreneurs experience
Resources Mentioned:
Documentary: Jiro Dreams of Sushi
Connect with Patrick Campbell:
ProfitWell Patrick Campbell on LinkedIn Patrick Campbell on Twitter
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our we
Megan Bowen is the Chief Operating Officer at Refine Labs, a demand accelerator for B2B SaaS companies. She describes herself as a problem solver, customer advocate, and operator with an extensive record of building and leading teams to success. As COO, her leadership style revolves around team empowerment and accountability while creating a culture of vulnerability, kindness, and empathy. Megan is also the co-host of the podcast, Talent Destination, which explores the hidden art of building the kind of company your team will love.
Megan joins me today to describe her role as COO and how she and CEO Chris Walker work to optimize Refine Labs from the inside out. She explains her leadership style and how she complements Chris. She discusses team building and how leaders can ensure each member can have a say in the direction the company is heading. She shares why hybrid work is more challenging to apply than fully remote work. Megan also describes what’s in store for Refine Labs and herself in the future.
“When you’re disappointed and your expectation is not met, ask yourself ‘did I ever clearly communicate this to the other person?’” - Megan Bowen
This week on the Expensive Advice Podcast:
Megan’s career, accolades, and how the pandemic led her to join Refine Labs Megan’s leadership style Megan’s philosophies on building a company How the COO can complement the CEO’s talents Getting the team to not depend solely on their leader for direction Establishing proper communication during conflicts Megan’s advice for when a team member disappoints Why hybrid work is more challenging to manage than remote Why Megan wanted to team up with Chris from the beginning What the future looks like for Megan and Refine Labs
Resources Mentioned:
Using LinkedIn Beyond Recruitment and Content Creation with Chris Walker
Connect with Megan Bowen:
Refine Labs Podcast: Talent Destination Megan Bowen on LinkedIn Refine Labs On YouTube
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Kyle Clements is the founder and CEO of Quipli, a SaaS company that offers software for the rental market. Their software allows independent rental companies to receive payments, manage inventory, and accept customer orders. Kyle holds a Master of Science degree in Commerce: Financial Services from the University of Virginia. Before founding Quipli, Kyle was the Senior Strategic Operations Manager at Uber.
Kyle joins me today to describe the importance of appreciating the present and your entrepreneurial journey. He shares the common traits he sees in people with leadership potential. He explains how Quipli’s marketing strategy is built on honesty and vulnerability. He discusses why he prefers to work fully remotely. Kyle also reveals the lessons he learned as a leader and why we’re now living in the “good old days.”
"I think that's what really matters; it's about the process and the journey." - Kyle Clements This week on the Expensive Advice Podcast:
Kyle's professional experience and how long we've known each other The character traits that pave the way for leadership What Kyle learned as an entrepreneur and business leader The company's marketing strategy and how it's built on honesty and vulnerability The potential challenge of not being a technical founder Viewing milestones as new starting points How to know you're in the "good old days" Why Kyle prefers being a "remote company" for a long time
Connect with Kyle Clements:
Quipli Next Gen Venture Partners Kyle Clements on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Creating The Right Terms for Commission Structures
One of the most effective ways to expedite growth is having a commission structure for employees or agents. Commissions allow people to go the extra mile and get more leads or better contracts, ultimately letting the company earn higher profits. What should you consider when writing a commission structure? And when is it the right time to promote profit-sharing and equity over commissions?
In this episode, Matt Smith and Jean-Luc Johnstone share their thoughts on the pros and cons of commission-based work. They explain how owners can ensure a balanced commission structure for both agent/employee and the business. They explain how to create a tiered structure and establish attainable KPIs. They discuss the differences between commissions, profit-sharing, and equity, and explain when to use one over the others. We also discuss the importance of testing your incentive structures and the best way to go about it.
"Too low commission doesn't encourage growth; too high leads to lower job security." - Matt Smith
This week on the Expensive Advice Podcast:
Discussing commissions with your agents or employees Can employees rely on discretionary bonuses? The importance of making your KPIs clear, achievable, and measurable Getting the right balance in commission structures Establishing a tiered structure for commissions When to start a profit-sharing incentive contract The difference between commissions and profit sharing The best way to test your incentive structures Mechanisms you can use to transfer equity When to use "Phantom Shares" as profit-sharing incentives
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer
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Missy Livingston is the Owner of Twisted Wares, an adult gifts maker that applies pun-intended phrases, jokes, and witty graphics on otherwise everyday, practical, and functional household items. They sell everything from towels and tote bags to car air fresheners, notepads, and coasters. Before starting Twisted Wares, Missing was a realtor who was on a path to success in the early 2000s until the recession of 2008. She learned about Etsy and the opportunity to start a sewn manufacturing business. Missy’s first product was what she now calls the Hang Tight Towels, a towel designed to stay put without snaps, Velcro, or buttons.
Missy joins me to describe how Twisted Wares started and why towels were her first products. She shares her professional experience before the 2008 recession and how their family coped with the loss of their real estate business. She explains the events that led her to become an entrepreneur on Etsy and how she learned to scale her sewn manufacturing business. Missy also discusses why she dreams of selling her business, the value of asking ridiculous questions, and what’s next for Twisted Wares.
"I always expect a ‘no’ when I ask something outrageous. But there’s nothing wrong with: ‘why is it a no? Can I help solve that problem for you so that you can give me a ‘yes?’" - Missy Livingston
This week on the Expensive Advice Podcast:
Missy's real estate background and why she pursued it in the past How the 2008 recession affected her family's finances and business Why there are a lot of opportunities in America if you're just open to them How success looks to Missy today compared to when she was a realtor What started Missy's Etsy career The challenges of having a sewn manufacturing business online Why Missy recommends asking the ridiculous questions How successful Missy's towel business is today What's in the pipeline for Missy Why Missy wants to sell her towel business
Resources Mentioned:
Book: The Entrepreneur's Guide to Sewn Product Manufacturing by Kathleen Fasanella
Connect with Missy Livingston:
Twisted Wares Twisted Wares on Instagram Missy Livingston on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Raising capital is a balancing act. On the one hand, you receive funding that can expedite growth. Conversely, you lose equity and risk losing your company if you don’t play your cards right. What should business owners understand about raising startup money? What are the investor expectations if they help you jumpstart a product or service?
CleverProfit’s Matt Smith and Jean-Luc “JL” Johnstone share their take on raising capital and making investors happy. We discuss what it means for your business if investors pour money into it and explain the different rounds of fundraising. We discuss what S.A.F.E. Notes are and their risks and advantages. We describe the difference between bootstrapping and fundraising and what you can learn from both. Matt and Jean-Luc also share their takes on the economy, where we’re heading, and the fundraising challenges many startup businesses are encountering in the post-pandemic world.
"The more money you have, the faster you can grow." - Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
Why a small business would need more capital The various rounds of fundraising What a S.A.F.E. Note is and its advantages for startups The risk of S.A.F.E. Notes for investors The process of the seed and pre-seed rounds The different "series" involved in funding What startups should remember when raising capital Running your business vs raising capital The primary downside to fundraising The key difference between bootstrapping and fundraising What you can learn from bootstrapping and fundraising What our Advisory Team thinks about the current state of the economy Why we're seeing more companies struggle to raise funds
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money
Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.
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James Langridge is a professional copywriter and marketer with a particular focus on digital marketing. He works with businesses, owners, and diverse teams looking to scale their businesses without funnels or expensive webinars. James also regularly consults with various business leaders and coaches to help them get their brands out there, gaining loyal customers beyond one-time purchases.
James joins me to describe how marketing has evolved throughout the years, but still retains human behavior at its core. He explains how the pandemic shifted the way companies sell to consumers and shares his thoughts on how easy it is to get your name out there, thanks to the internet. He discusses our innate need to be entertained and how professional wrestling is an example of genius marketing. James also describes why humans will pay any amount of money for entertainment and the psychological elements of good marketers.
"Understanding people is the only thing that matters." - James Langridge
This week on the Expensive Advice Podcast:
How James became a copywriter Why James believes he is more American than most Americans The psychological elements of being a good marketer What you need to create a good sales copy Applying sales writing techniques in real life Why people have an innate need to be entertained and will pay for it How the WWE represents genius marketing What's in the pipeline for James?
Connect with James Langridge:
James Langridge on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Andrew Gazdecki is the CEO of MicroAcquire, a company that helps startups get acquired in as little as 30 days. The company has closed over $ 500 million worth of deals and aims to establish itself as the most founder-friendly acquisition marketplace for startup owners. Andrew has always been an entrepreneur, which started in his teen years when he started selling on eBay. His first official experience as an entrepreneur was when he founded Bizness Apps in 2010, which was successfully acquired in 2018 by ESW Capital. Andrew is also the author of Getting Acquired: How I Built and Sold My SaaS Startup, where he talks about how he founded a startup on his own without any real work experience.
Andrew joins me to discuss where his entrepreneurial journey started and how building iPhone apps eventually led to his big financial break. He shares his thoughts on the luck aspect of owning a successful business and explains that startups are more about motivation and grinding than intelligence. He also describes why he saw Blockchain as ‘the next big thing’ a few years earlier and shares actionable advice to entrepreneurs who are building a business while raising a family.
"Building startups is a game of mental endurance, taking care of yourself, and not getting too high on the wind." - Andrew Gazdecki
This week on the Expensive Advice Podcast:
Andrew's entrepreneurial journey How the iPhone inspired Andrew to build apps as a career Andrew's thoughts on being lucky as a business owner Blockchain and how its potential is like the smartphone and the internet Andrew’s perspective on being positioned to sell from day one The importance of enjoying your work as an entrepreneur Andrew's advice to those new to building a startup What's in the pipeline for MicroAcquire? Andrew's advice to entrepreneurs juggling building a business while raising children
Connect with Andrew Gazdecki:
MicroAcquire Andrew Gazdecki on LinkedIn Andrew Gazdecki on Twitter Andrew Gazdecki Official Website
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Jean-Luc Johnstone and Matt Smith are part of the CleverProfits’ team of advisors. Both are chartered accountants in South Africa. Jean has over seven years of advising experience focusing on mergers & acquisitions and corporate finance across South Africa, Ireland, and the UK. Matt was a junior lecturer at Rhodes University. Both completed a 3-year Audit course at Moore Cape Town. Their job at CleverProfits is to ensure we make the right decisions regarding expansion and risk management.
In this episode, Matt and Jean join me to discuss inflation. They share the definition of inflation and what makes it go up and down. They explain how inflation and interest rates correlate and describe how consumer behavior changes depending on interest rates and inflation. They discuss their thoughts on volatile markets such as crypto and how inflation has also impacted their growth. They also describe how consumer behavior has changed after the COVID-19 pandemic.
"Every time inflation increases, the value of our purchasing power decreases for the same dollar we have in our pockets." - Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
US inflation rates, where it's at, and where it's headed Defining inflation and how it affects commodity prices The economics behind interest rates and inflation The difference between floating and fixed-rate loans Volatile markets and how inflation drove prices down Analyzing consumer behavior in a post-COVID world
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you.
Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Inflation has become one of the most searched words on the internet in 2022, and it’s a sign that many things will get more expensive. More than just everyday necessities, business owners also have to factor in various added costs on existing projects, especially marketing and client acquisition. What should business owners prepare for during inflation, and what should be our mindset?
In this episode, I discuss how businesses can stay competitive in their respective industries despite inflation. I share some of the different costs that will likely go up, especially overhead and marketing. I describe how inflation affects everyone regardless of status and why business projections need to be reviewed. I also explain what we can still expect to see before the year ends, especially regarding topline revenue. "We have to be realistic to the fact that we may not be as bullish on our projections as we have been." - Adam Rundle This week on the Expensive Advice Podcast:
How to be competitive in the market despite inflation Inflation and its effects on business owners What we'll see in the coming months regarding topline revenue The different costs that would likely increase Why we have to be ruthless when it comes to overhead
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser | Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Matt Smith and Jean-Luc "JL" Johnstone are members of CleverProfits' team of advisors. JL is a certified chartered accountant in South Africa with more than seven years of advising experience focused on corporate finance and mergers and acquisitions throughout South Africa, the UK, and Ireland. Matt is a chartered accountant and Account Manager who is also in South Africa. He spent over a year as a junior lecturer at Rhodes University. Matt and JL completed their 3-year traineeship at Moore Cape Town, focusing on Audit. As CleverProfits' advisors, they're responsible for helping our organization settle on the ideal choices concerning risk management and expansion.
Matt and JL join me today to discuss the most critical aspect of valuations and what makes them different from pricing. They explain the three universal approaches to valuations and why there's nothing wrong with having high or low valuations. They provide their thoughts on overvalued companies post-pandemic and the current state of the valuation industry. They also describe scenarios where price and value aren't necessarily high or low. "Capital is drying up around the world, and it is a little bit concerning." - Matt Smith This week on the Expensive Advice Podcast:
The most important aspect of valuations How valuations help you understand your business The three universal approaches to valuations Incentivizing low and high valuations The difference between pricing and valuations Factors that affect both price and value Situations where value and price aren't high or low Their thoughts on Elon Musk’s Twitter buyout proposal The state of the valuation industry Are there too many overvalued companies
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser | Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Jack Butcher is the Founder of Vizualize Value, a company that sprouted out of his need to have a fun business consulting firm focusing on making learning, teaching, and selling easier to visualize. He also founded Opponent, a content consultation company specializing in product innovation, branding, marketing, and growth. Before starting the two companies, Jack worked with various New York advertising companies as part of the creative and advertising teams.
Jack joins us to share his thoughts on money, the blockchain, and cryptocurrency. We discuss what inspired him to travel to New York and his career in advertising. We discuss how one tweet caused him to rethink his perspective on money and growth. We discuss how the COVID-19 pandemic impacted his business. We also discuss why crypto is here to stay, its appeal, and how it speeds up resource allocation. "Don't expect people to understand crypto until they use it." - Jack Butcher This week on the Expensive Advice Podcast:
How Vizualize Value fared during the pandemic What made Jack rethink the way he vizualizes value Jack's opinions on crypto and the switches that were flipped during COVID-19 What the Not Investment Advice podcast is all about Why cryptocurrency users have a higher tolerance for risk The long-term appeal of cryptocurrency in resource allocation NFTs and why they're a controversial subject What's in the pipeline for Jack and his company
Resources Mentioned:
How to Get Rich (without getting lucky) Tweet by Naval
Connect with Jack Butcher:
Visualize Value Opponent Visualize Value YouTube Channel Jack Butcher on LinkedIn Jack Butcher on Facebook Jack Butcher on Instagram Jack Butcher on Twitter Not Investment Advice Podcast
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser | Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Whether you want to or not, at some point, every entrepreneur will eventually exit their business. Whether you initiate the exit or for unexpected reasons, you’re forced to leave, exiting your business is simply a natural evolution of business growth and trajectory. And because of this, it’s crucial that every entrepreneur starts to prepare for their eventual departure so your exit strategy happens on your terms instead of someone else’s.
In this episode, I explain the benefits of preparing for your exit now and highlight the type of things that can happen if you’re not prepared. I describe the questions we should be asking about ourselves and our business for our eventual exit. I also discuss how life-changing a business exit can be, especially if you’ve wanted to retire for a while. "You can exit in an extremely positive manner, which can be life-changing." - Adam Rundle This week on the Expensive Advice Podcast:
Reflecting on my conversation with Thomas Smale on exiting your business someday Why we should think about exiting now What can go wrong if we're not prepared to exit The questions we need to ask in preparing for a business exit
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Blake Brogan is a Senior Wealth Strategist at Money Insights, a boutique planning firm that provides non-traditional approaches to financial freedom. As Senior Wealth Strategist, Blake is in charge of planning dynamic wealth-building strategies for their high-income clients. In addition to working with Money Insights, Blake is also a Principal at Brogan, Reed, Van Gorder & Associates, a financial firm that’s been running for over 80 years. He also co-founded Brogan Wealth Strategies, an entrepreneur-focused wealth strategizing business that seeks to optimize its clients’ alternative investing.
Blake joins me to describe where he found his passion for wealth management and why he decided to pursue a career in financial advising. He explains why most retirement plans revolve too much around saving and why it’s not a sustainable approach from a financial freedom viewpoint. He shares actionable advice on how to prepare for retirement today and discusses why parking your hard-earned money in banks is the last thing you should do when you’re still working. Blake also shares his best advice for creating wealth and describes how his father influenced his career decisions.
"A business creating cash flow is the way to get financial freedom." - Blake Brogan
This week on the Expensive Advice Podcast:
How I met Blake and our working relationship What Blake's journey was like as a wealth advisor How Blake learned money management and the people he helps Why Blake's upbringing was not textbook Getting to the age where the primary concern is running out of money What financial freedom means for an entrepreneur The best financial strategy for retirement Why parking your money in banks isn't advisable What Blake suggests is the best way to create wealth What it was like to work with Blake's father
Connect with Blake Brogan:
Money Insights Brogan Wealth BRV Benefits Money Insights Podcast Blake Brogan on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | Google Play | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser | Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you.
Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Veronica Romney is a Dream Team Architect. She works with online entrepreneurs who have started a business independently but need that extra hand to scale. She has over 14 years of experience in online marketing, with extensive experience working with inspirational leaders like Tony Robbins, Pete Vargas, and BossBabe. Because of her knowledge and expertise, Veronica is a recognized expert in personal branding, public speaking, social media marketing, and online marketing.
Veronica joins me to discuss how you can become a better leader for your business and your family. She shares what it was like working as a speaker and trainer for various leadership coaches and how parenting intersects with being a good leader, especially when strengthening employee relationships. Veronica also describes the services she offers to online entrepreneurs and how she helps them expand beyond the growth spurt that was prompted by the pandemic. "No success on the outside can ever compensate for the failures inside your home." - Veronica Romney This week on the Expensive Advice Podcast:
Why Veronica calls herself a Dream Team Architect Why Veronica enjoys working with marketing teams How Veronica helps companies sustain the earnings they had during the pandemic What it was like working with Tony Robbins Comparing people management and parenting What success means to Veronica How you can be the hero of your own story Why parenting is a fantastic experience for business leaders
Resources Mentioned:
Book: Everybody Matters: The Extraordinary Power of Caring for Your People Like Family by Bob Chapman
Connect with Veronica Romney:
Veronica Romney Official Website Veronica Romney on LinkedIn Veronica Romney on Instagram No More Workcations: A Group for Entrepreneurs Wanting To Live Their Dream Facebook Group Rising Tide Startups Season 5 Episode 51
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Nobody likes to be disappointed, and most of the time, this means letting people know what they can expect from you. Whether at home or in the workplace, it’s critical to make sure everyone’s on the same page regarding expectations – especially if there’s a lot on the line. So, what should leaders do to communicate their expectations well to their team?
In this episode, I explain how to best manage your expectations and how your team can communicate theirs to those reporting to them. I discuss the questions we should be asking about expectations, why I think assuming is the worst part of expectations, and what you can do to avoid it. I also describe the potential strategy that failure and false expectations can bring. “‘Expectations’ is a huge topic we should all be thinking about." - Adam Rundle This week on the Expensive Advice Podcast:
My recent reflections as a business owner How expectations can lead to frustrations… and even failure The expectations I have for my team and their teams Questions we should be asking regarding expectations Avoiding a misalignment of expectations The worst part of expectations
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Matthew "Matt" Smith and Jean-Luc "JL" Johnstone are part of CleverProfits' advisory team. Matt is an Account Manager and a qualified Chartered Accountant in South Africa. He spent a year as a junior lecturer at Rhodes University and completed his SAICA traineeship at Moore Cape Town specializing in Audit. JL is a qualified Chartered Accountant in South Africa with over 7 years of experience specializing in Corporate Finance and M&A throughout South Africa, the UK, and Ireland. Like Matt, JL completed his 3-year traineeship at Moore Cape Town specializing in Audit. He has extensive due diligence assignment experience across multiple sectors and jurisdictions, including TMT, FMCG, retail, Renewable Energy, and construction. As Advisors at CleverProfits, they're in charge of helping our company make the right decisions concerning growth and risk management.
Matt and JL join me today to discuss the role of advisors in an organization and why it's smart for business owners to hire their advisory team. They explain an advisor's role in business and how they analyze deals and other transactions. They share what makes them passionate about advising and why it's about people. They also describe the advantages of having an advisor over making personal judgments and how having an advisory team helps you build confidence with every business transaction. "As a business owner, you don't know what you don't know, so lean on people who do." - Jean-Luc Johnstone
This week on the Expensive Advice Podcast:
The lack of clarity about Advisory What is unique about Advisory? The difference between CFOs and Advisors The actual role of advisors in businesses How an advisory team builds confidence with every transaction What advisors do when analyzing a deal What excites Matt and Jean about advising?
Connect with Matt Smith and Jean-Luc Johnstone:
Matt Smith on LinkedIn Jean-Luc Johnstone on LinkedIn
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Profit-Sharing is a tool you can use to incentivize your best employees. It drives growth, sales, and loyalty across your organization when used correctly. However, just like other business strategies, there’s always a time and place for profit-sharing.
How do you know when should consider using profit-sharing plans?
In this episode, I discuss profit-sharing best practices. I explain the critical differences between profit-sharing and incentive structures and describe why commissions can sometimes be better, primarily if you incentivize someone in sales. I also share what business leaders can do to ensure their profit-sharing agreement is mutually beneficial to all sides and does not confuse any party involved. "Profit-sharing is an incredible tool to use when trying to incentivize high-performing individuals in your business." - Adam Rundle This week on the Expensive Advice Podcast:
The best time to use profit-sharing agreements Structuring profit-sharing agreements to protect all sides When to use profit-sharing and when to use incentive structures The difference between commissions and profit-sharing How to avoid confusion when structuring profit-sharing agreements
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Thomas Smale is the CEO of FE International, an award-winning global merger & acquisitions advisory firm focusing on SaaS, Content, and Commerce businesses. Thomas’ career as a serial entrepreneur started in the early 2000s by building and selling small online companies. This would eventually lead to him founding FE International in 2010, effectively scaling what used to be a relatively “small” business-selling career. As CEO, Thomas specializes in business strategizing, business development, and marketing.
Thomas joins me to discuss the latest in the mergers & acquisitions industry and what leaders should do to maximize their exit strategy. He shares why he decided to move from the UK to the US to start his career and how the pandemic affected FE International as well as his personal life. He explains what inspired him to pursue a career in mergers & acquisitions and when leaders should start thinking about their exit strategy. Thomas also shares his prediction for the future of the M&A industry and what’s in the pipeline for FE International. "You need to start intentionally working towards the goal of selling your business." - Thomas Smale This week on the Expensive Advice Podcast:
Why Thomas decided to move to the US The types of companies Thomas worked with and the services he offered Why Thomas focused on Mergers & Acquisitions How COVID-19 affected Thomas' personal life How the pandemic changed the way Thomas and his company worked with clients The complexities involved in selling a business The difficulty of selling a business the traditional way Thomas’ prediction for the future of the M&A industry What's next for Thomas and his company
Connect with Thomas Smale:
FE International FE International on YouTube Thomas Smale on LinkedIn Thomas Smale on Facebook Thomas Smale on Instagram Thomas Smale on Twitter
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Equity is defined as the shareholder’s stake in a business. It’s often used to attract investors, especially if you can promise a safe ROI with as minimal risk as possible. However, not everyone should think about using equity as a first resort for building capital. So, what should you consider when using equity? When is the best time to use equity?
In this episode, I share my thoughts on equity, what it is, what it can do, and how to utilize it properly. I explain the purpose of equity in any business and describe how to structure equity in your company. I discuss why small businesses should forego equity and start with profit-sharing agreements first. I also share what I consider are the three big principles in using equity. "Only if you can't go any further on profit sharing, then look at equity." - Adam Rundle This week on the Expensive Advice Podcast:
How do you think about structuring equity in your business Understanding the purpose of equity Using equity only to raise large amounts of capital Why small businesses should look at profit-sharing agreements first The three big principles in using equity
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Chris Walker is the CEO of Refine Labs, a research firm that provides progressive demand strategies focusing on growth-stage B2B SaaS companies. Their innovative take on marketing, content creation, and utilization of Dark Social data has proven that organic presence is superior to simply publishing corporate blogs. As CEO, Chris specializes in various aspects of leadership, marketing, and management. His areas of expertise includes demand generation, revenue operations, social & content strategies, and go-to-market strategy design.
Chris joins me to discuss how LinkedIn is underutilized and how businesses should adapt their content marketing strategies to the social media platform. He shares what Refine Labs is all about, the services they offer, how he discovered the power of LinkedIn in producing leads that result in new clients. He describes why the old ways of marketing no longer work and what the new wave of content strategy should focus on. Chris also discusses why market slowdowns are the perfect opportunity to get ahead of the competition. "You have to shift your priorities. There's nothing more powerful than creating content on LinkedIn." - Chris Walker This week on the Expensive Advice Podcast:
Why people say Refine Labs is like the next Google The day Chris went all-in on LinkedIn Surpassing the old ways of building a business The power behind LinkedIn How most people use LinkedIn and how Chris' team uses it Getting customers with new business strategies Why slowdowns in the economy aren't bad things What's in store for Refined Labs in the coming months
Connect with Chris Walker:
Refine Labs Refine Labs On YouTube Chris Walker on LinkedIn Chris Walker on Twitter State of Demand Gen Podcast
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Everyone asks me, “What’s the one thing I should do to become successful?” My answer to that question is: there isn't “one thing.” Just like there isn't a magic pill that will make you lose 30-lbs in two weeks, becoming successful is a culmination of good habits, focus, and always seeing the bigger picture. Since there isn’t “one thing” in becoming successful, how do you build a routine that produces a successful outcome?
In this episode, I explain the compound effect of taking baby steps to create success. I describe how there’s no single solution to any problem and explain how success is made up of hundreds of small steps that lead to a bigger goal. I also discuss the mindset a business leader should possess if they want to be successful in any industry and explain the importance of visualizing the bigger picture. "It doesn't matter what the context is, there's never just one silver bullet in order to be successful." - Adam Rundle This week on the Expensive Advice Podcast:
What makes successful business owners successful Why there's not just one thing you need to do to be successful Understanding the compound effect and how it leads to success How small steps added together lead to success How to have a success mindset
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Bryce Keffler is a Senior Advisor at Dew Wealth Management, a financial advisors firm dedicated to helping millionaires think like billionaires. Recognized as the “Advisor to the Entrepreneur”, they help their clients get the most out of their wealth so they can focus on the things that are important to them. Bryce’s role as Senior Advisor involves helping their clients manage their A-team and collaborating to drive the best possible results. Before working at Dew Wealth Management, Bryce was a Financial Planner at Pinnacle Financial Advisors of Arizona. He holds an MBA from W.P. Carey School of Business – Arizona State University, a Bachelor’s in Finance and Entrepreneurship with Honors from the University of Arizona, and a CFP Certificate from Bryant University.
Bryce joins me today to share where his love for entrepreneurship began and how he helps entrepreneurs manage their wealth. He describes the processes involved in selling a business and how it can often be a complex process. He explains the importance of establishing a vision as an entrepreneur and understanding the step-by-step process behind every goal. Bryce also discusses the easiest way to live life and what we can expect from Dew Wealth in the coming months. "It’s all about being a fiduciary, which is really just legally needing to put the client’s needs ahead of your own.” - Bryce Keffeler This week on the Expensive Advice Podcast:
Where Bryce's entrepreneurial passion started Bryce's current role as entrepreneur and the value he provides The one process that entrepreneurs can't get wrong What sets Dew Wealth Management apart from other financial advisory firms Knowing your vision as an entrepreneur Understanding there is a step-by-step process behind every goal What's in the pipeline for Dew Wealth Management
Resources Mentioned:
Conscious Capitalism, With a New Preface by the Authors: Liberating the Heroic Spirit of Business by John Mackey Outliers: The Story of Success
Connect with Bryce Keffeler:
Dew Wealth Management Bryce Keffeler on YouTube Bryce Keffeler on LinkedIn Bryce Keffeler on Instagram Bryce Keffeler on Facebook Bryce Keffeler on Twitter Bryce Keffler on Soundcloud
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
When you hear the word “accounting,” the first few ideas that come to mind are taxes, earnings, and making investors happy. If you think an accountant’s purpose is to make sure you don’t lose money, you’ll be surprised at how we actually impact your company's growth. What’s the true purpose of accounting in business? How can business owners fully utilize their accounting department?
In this episode, I share why accounting is an underrated industry. I explain what accountants do for your business and how we help keep business and organizations afloat. I describe why accounting is a scary industry. I discuss the true purpose of business and our most important job as business owners. I also share why kindness is not mutually exclusive to good leadership and the people who influence my leadership style. "Every functionable thing in your business boils down to numbers." - Adam Rundle This week on the Expensive Advice Podcast:
Addressing the disconnect between business owners and accountants The reality of accounting and how it's used in business How accounting has become a scary industry The leaders who influence my leadership style The true purpose of business and what business owners should do What your accounting should measure in your business Why accounting is the most powerful tool in your business
Turning Boring Money into FUN Money Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts. Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer Be sure to share your favorite episodes on social media to help us reach more listeners, like you. Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.
Hi, My name is Adam Rundle and I think money is boring. That surprises most people I meet as founder & CFO of a financial advisory firm. In fact, I’d far rather be building the vision of my business, playing on the floor with my kids, and coaching the best sport in the world - rugby.
I’m putting the fun back into money. Because we all know nobody cares about money. But they LOVE what they can do with it. "No success on the outside can ever compensate for the failures inside your home." – Veronica Romney My podcast Expensive Advice is coming soon, so if you want to hear insider stories from some of the most dynamic founders and business leaders, to discover priceless advice to help you get ahead in your business journey - head over to Cleverpofits.com
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