DecaMillionaire Decoded

In episode 89 of Financially Simple, Justin talks about developing leadership within the business. When it comes time to sell your business, you and the buyer will want to know that the team you have in place will be able to continue to work effectively without you in charge. Justin considers the ways that a business owner can develop leadership within their team and employees, so that should the...

In episode 88 of Financially Simple, Justin looks at the 21 Personal Qualities of a good leader. To be a successful business owner, you need to be a good leader - for your team, employees, and even customers. Justin looks at the 21 most necessary Personal Qualities that make for a good leader. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BL...

In episode 87 of Financially Simple, Justin looks at the top ten things that good leaders do. Jeff Immelt, former CEO of GE, shared what he thought the good qualities of a leader are in an interview with Fast Company Magazine. Justin goes over the top ten qualities and analyzes each in context for the small business owner. Don't forget to subscribe, and let us know how we are doing by leaving a re...

In episode 86 of Financially Simple, Justin talks Leadership. What makes for a good small business leader; someone that will direct the company and its team where the business is meant to go? Justin looks at the qualities of a leader within the context of a small business, as well as comparing top-down and multi-directional leadership. Don't forget to subscribe, and let us know how we are doing by...

In episode 85 of Financially Simple, Justin wraps up this series on Business Planning. A solid business plan that is well executed will increase the intrinsic value of your company. Justin wraps up this series on planning, taking a last look at the process and the 1:4:12:52 model of structuring a business plan. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks...

In episode 84 of Financially Simple, Justin goes through the motions of the Business Planning Cycle. Thought your business plan was a one-off? Think again! Business plans are constant throughout the operations of a business. Justin goes over the Business Planning Cycle, considering each turn of the wheel and how it integrates into a business's growth. Don't forget to subscribe, and let us know how...

In episode 83 of Financially Simple, Justin talks Tactics and Actions. Setting out your business strategy objectives follows the rule of three - focus on three objectives. Each objective has three tactics to achieve it, and each tactic has three actions to enact the tactic. Justin goes over this strategy, explaining the how and why. Don't forget to subscribe, and let us know how we are doing by le...

In episode 82 of Financially Simple, Justin goes over the core strategies of Strategic Planning. There are three considerations of strategic planning - engagement, positioning, and growth. Justin examines each of these strategic aspects and the factors of each one. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION : 3 Question...

In episode 81 of Financially Simple, Justin talks about setting strategic objectives for your business. As your business grows, it's important to have clear goals to define the development of the business and keep it on track to your ultimate objective. Justin goes over setting goals, what they should be, and how to reach them. Don't forget to subscribe, and let us know how we are doing by leaving...

In episode 80 of Financially Simple, Justin looks at SWOT Analysis for business. A SWOT Analysis can help define a business' strengths, weaknesses, opportunities, and threats - knowing each of these aspects in a business can help it succeed and grow. Justin goes over each aspect of the SWOT Analysis, and how each relates to a business. Don't forget to subscribe, and let us know how we are doing by...

In episode 79 of Financially Simple, Justin takes a look at the values that will define your business. An individual's values and the values of their business define the character and reputation of them and their business. Justin examines the different values that are involved in business, why they matter and how having the right values can determine a business's sustainability. Don't forget to su...

In episode 78 of Financially Simple, Justin compares the Vision and the Mission of Strategic Planning Setting out a business's strategic plan as the owner, you'll need to know where you want to be in X years time and how you're going to get there. Justin explains and compares the Vision and Mission of VMOSTA. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks f...

In episode 77 of Financially Simple, Justin outlines the strategic planning process. Drawing up a strategic business plan can be a daunting task for many business owners - where to start, who to involve, and how to proceed. Justin explains his process, VMOSTA, and explains each step, as well as the who, when, and where. Don't forget to subscribe, and let us know how we are doing by leaving a revie...

In episode 76 of Financially Simple, Justin introduces Business Planning 101. As Benjamin Franklin once said, "Failing to plan, is planning to fail". In this episode of Business Planning 101, Justin looks at the planning habits of most business owners and goes over the core fundamentals of having a business plan and executing that plan. Don't forget to subscribe, and let us know how we are doing b...

In episode 75 of Financially Simple, Justin looks at the Dupont Formula and how it can be improved upon. The Dupont Formula is a Return On Equity strategy, first applied in the early 1920's. Justin examines this well established method, and updates it for the modern business world. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!   TIME INDEX:...

In episode 74 of Financially Simple, Justin gives an overview of the eight key areas of business and the respective personality types of each. When it comes to running a business there are eight identifiable areas of expertise, and with that comes different skillsets and suitable personality types for each area. Justin goes over the eight key areas and looks at the qualities and desirable personal...

In episode 73 of Financially Simple, Justin looks at the key concepts of Value Growth. There are various terms used in business that might be unfamiliar or confusing, and knowing the correct definitions of such terms is important for many reasons - not least, knowing the valuation of your business. Justin goes over some of the terminology relating to Value Growth of your business. Don't forget to...

In episode 72 of Financially Simple, Justin takes a look at Time Value Money and why it's an important concept to understand as a business owner. The value of money changes from one moment to the next, as it is affected by many various factors. Justin explains what Time Value Money is, what influences it, why it's important, and how it can be used. Don't forget to subscribe, and let us know how we...

In episode 71 of Financially Simple's Growing a Business series, Justin takes a look at the different types of Business Valuation. The value of something is tricky to determine, as there are so many variables both subjective and objective. Justin goes over the three main types of valuation, and their respective subtypes, and weighs in on which is best for working out the value of your business. Do...

In episode 70 of Financially Simple's Growing a Business series, Justin goes over the various types of Valuation methods for business. Understanding the different types of Value your business has is important when it comes to building and selling the business - some valuations will be more favorable than others. Justin gives an overview of the meaning of Value and the various ways a business might...

In episode 68 of Financially Simple's Growing a Business series, Justin goes over the principles that will determine the value of your business to potential buyers. When starting and even running a business, it's important to keep the end goal in sight - selling the business for maximum value. Justin looks at the six principles that will affect how valuable your business is and ultimately what the...

In this episode of Financially Simple's Growing Your Business series, Justin takes a look at the relationship between the cost of capital and risk. There are various knock-on effects from investing in your own business, that might have unforeseen costs and affect the value of your business. Justin goes over the ins and outs of the cost of capital and risk, and how it varies for large vs small and...

In episode #66 of Financially Simple's podcast, Justin examines how the value and profitability of a business are related by separate concepts. A business can be profitable in the market. But when it comes to its value when the owner wants to sell that business, it can turn out to be worth less than what the owner expected. Justin compares a business's value to its profitability and considers the...

In episode 65 of Financially Simple's Growing a Business series, Justin looks at maintaining objectivity in your business to maintain its growth. A lack of objectivity can lead to complacency, and that can lead to stagnation and limited growth. Justin considers what maintaining objectivity means as a business owner, why it's important, and how as a business owner you can keep being objective about...

Your business is alive and humming along. You now need to be focusing on growth. Certified Value Growth Advisor Justin Goodbread considers some of the business professionals he has had experience with on his own business journey and compares the goal of growth for profit vs. growth for value. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! Rea...