DecaMillionaire Decoded

Throughout my career as a business owner and entrepreneur, I've had several people ask me why I put myself through this. Some naysayers have even blatantly told me that I'll never make it. Whether you're a seasoned business person or an aspiring entrepreneur, you've probably had someone tell you the same things. But, in the world of entrepreneurship, you'll need to learn to put your earplugs on an...

In episode 403 of Financially Simple, Justin looks at how your attitude as a business owner can determine your business's success. The mindset of a business owner and how they approach their dealings with their clients and suppliers will ultimately set them up for success or failure. In this episode, Justin considers the meaning of success to an individual business owner, and how that can influenc...

In episode 402 of Financially Simple, Justin considers the emotional and psychological impact that selling their Business can have on the Owner. You've devoted a chunk of your life to building a successful business, and now you're ready to sell it - but are you, personally, prepared for the mental shocks to come? In this episode, Justin looks at what it is like to sell a business from the emotiona...

In episode 401 of Financially Simple, Justin lists some of the obstacles that might impede the closing of a sale. You're selling your business, you've got an interested Buyer, so far so good - except for the other things that still need to be overcome, such as having both parties' legal counsel agree, the banks that are financing the business approve the deal, and your employees and customers are...

In episode 400 of Financially Simple, Justin looks at how a Business Owner can map the Sales Process of their Business so that they can easily step away from it. As a Business Owner, being able to step away from your business and have it continue to run smoothly is key to making the business sellable as the processes are transferable and scalable. In this episode, Justin goes over the process of e...

In episode 399 of Financially Simple, Justin goes over the different types of criteria that a Business Owner can use to define their Perfect Persona. A "perfect" buyer persona is a business's ideal client, the type of person or company that best suits the services that that business provides and aligns to the same values. In this episode, Justin looks at the various principles and methods of defin...

In episode 398 of Financially Simple, Justin concludes his review of what a Buyer will consider when looking for a business to purchase. Potential buyers that are considering purchasing your business will look at your assets - from the location, structure, and physical assets, to the intangible as well as potential liabilities such as OHSA regulations. In this episode, Justin considers the tangibl...

In episode 397 of Financially Simple, Justin expands on the business sale prices through the eyes of the Buyer, looking at the relationship side of things. A potential buyer of your business is going to evaluate your company on a number of criteria, including the relationships that you have in place with your existing clients, vendors, and your employees. In this episode, Justin goes over these re...

In episode 396 of Financially Simple, Justin begins to examine the flip side of the coin - what do prospective buyers see when they look at your business as they consider its worth. As the owner of a business, you know your company the ins and outs, the team and processes that you have in place - but have you considered what a buyer sees from the outside looking in? In this episode, Justin goes ov...

In episode 395 of Financially Simple, Justin explains how you can analyze your business's performance year-on-year using five simple Key Ratios. A Key Ratio uses your business's financial data and compares the information to another data set to help determine the state of the company's finances and more. In this episode, Justin explains the five Key Ratios that you should be using to measure your...

In episode 394 of Financially Simple, Justin takes a moment to go over what you as a business owner can do to try to prepare for the next financial crisis. National and global catastrophes that happen unexpectedly, such as the current COVID-19 pandemic or even the 2008 financial crisis can make or break a business. In this episode, Justin goes over nine ways to help you protect your business and y...

In episode 393 of Financially Simple, Justin talks to author Les McKeown about Predictable Success. Can the success of a business be predicted with any certainty, and if so what are the indicators or paths that can be followed to measure the progress of the business? In this episode, Justin and Les discuss Les's book Predictable Success, and cover the broad strokes of the path and indicators that...

In episode 392 of Financially Simple, Justin looks at the five levels of leadership according to authors Jim Collins and John C. Maxwell. Do you lead your team from the front or behind? Are you highly capable or an executive? Do you need to level up your leadership to get more from your employees and improve your business? In this episode, Justin analyzes the two books on Leadership by Jim Collins...

In episode 391 of Financially Simple, Justin talks to Paul Metler of Initiative One about facing the changes that come with running a business. Change is one of the few things you can bet on being consistent, and as a business owner being able to handle the changes that we face both internally and externally with our businesses is key to making it day-to-day. In this episode, Justin and Paul looks...

In episode 390 of Financially Simple, Justin gives an overview of the risks one might face in retirement and what can be done to mitigate those risks. You've cashed in your chips and are ready for retirement, looking forward to living a comfortable life without the pressures of work, but what if there's a market crash, what if X Y or Z happens - will you be OK? In this episode, Justin looks at the...

In episode 389 of Financially Simple, Justin talks to Jonathan Addington of JM Addington Technology Solutions about Business Cybersecurity. You've probably heard of hackers and cyber scammers that target people for money or just to cause chaos, but have you taken active steps to protect yourself and your business from such threats? In this episode, Justin and Jonathan go over the basics, the most...

In episode 388 of Financially Simple, Justin and Jeff Jeter discuss some common retirement myths. When you're planning on selling your business and settle in to retirement, there might be one or two things that you've heard and believe that actually are not true, and so when the time comes you might get an unexpected shock. In this episode, Justin and Jeff consider some of the most common retireme...

In episode 387 of Financially Simple, Justin wraps up this Legal miniseries on preparing to sell your business. If you're thinking of selling your business in the near future, or even much further down the line, being prepared and knowing the legal issues that can arise from those eventualities will be a boon when the time comes. In this episode, Justin summarises the last few episodes covering th...

In episode 386 of Financially Simple, Justin talks to Mital Patel of Triamicus Law about the legalities of selling your business. With the "do-it-yourself" attitude of most business owners, some of the important, complex, and difficult legal issues that crop up when selling a business can be overlooked or even ignored. In this episode, Justin and Mital go over the purchase agreement and consider t...

In episode 385 of Financially Simple, Justin talks to Dr. Grace Yum about selling her dental practices by herself. Taking the reins and selling your business by yourself can be challenging, and immensely rewarding, especially if you've taken the right steps to understand the process and your desired outcomes. In this episode, Justin and Grace discuss the events of her starting, building, and event...

In episode 384 of Financially Simple, Justin talks to James Pugh of Pivot Capital about creating capital for your business's growth. Whether transitioning or planning the next step of growing your business, having the financing in place to support the move is vital. In this episode, Justin and James explain the role of investment bankers in increasing the value of your business, building your capi...

In episode 383 of Financially Simple, Justin talks to Matteo Valles a Business Broker at Sunbelt Network. Having a Broker on your side when it comes to selling your business might seem unnecessary, but the value they can add in helping value the business, assisting in getting prepared for sale, and with the sale itself, far outweighs any costs. In this episode, Justin and Matteo look at the transa...

In episode 382 of Financially Simple, Justin discusses Estate Planning with guest Julie Eisenhower of Triamicus Law. Estate Planning is essential for every business owner, having a legal document in place in case the unexpected happens to you or if you are the principal beneficiary of another business owner. In this episode, Justin and Julie go over the differences between Estate Planning for a bu...

In episode 381 of Financially Simple, Justin introduces a series of episodes looking at the legal side of selling your business. Is now the right time to sell your business? Have you planned everything out, prepared your employees and team? Have you considered what happens after? In this episode, Justin introduces the series of episodes that will answer these questions and more, with upcoming inte...

In episode 380 of Financially Simple, Justin looks at the top Social Media platforms for Business Marketing. There are a number of different social media platforms each catering to a different age group and or mindset. In this episode, Justin goes over each platform in turn, considering the main user group and demographics of the platforms as well as the form of media used on each, and how to leve...