DecaMillionaire Decoded

In episode 13 of Financially Simple, Justin takes a look at the ins and outs of Risk Assessment. In business there are risks - the key to a successful business is knowing the specific risks to that industry and how to counter or absorb them. Justin talks about what risk is, the legal side of it, how to identify it, and how to address it, giving a candid example from his own experience dealing with...

In episode 12 of Financially Simple, Justin talks about having the systems in place to track a small business's performance and success. There are two main factors that are looked at when it comes to selling a Business - the Financials, and Performance. Justin looks at these factors, breaks them down to their fundamentals, and explains how Business Owners can start keeping track of them to ensure...

In episode 11 of Financially Simple, Justin talks about the different types of business entities and why they matter. In Business, the type of business structure you own matters, whether it be a corporation or Sole Proprietorship. Knowing which type of entity fits your business will help with the management and legal aspects of the business, especially when it comes to selling. Justin considers th...

In Episode Ten Justin shares the love... we're talking about appreciating your employees... the people that support you. You need to have sound values and good business culture. Love People and Use Things - put simply, happy employees work better. And employees that work better help your business grow. Justin gives examples of bad business practices that will result in people becoming demotivated...

In episode nine of Financially Simple, Justin talks about having a vision for the future of Your Business. Having a Vision Statement helps to give business owners a clear idea of where they want their business to go. It aids in decision making, team focus, and reassures employees and investors, that you, as the owner, know what you want and how to get there. Don't forget to subscribe, and let us k...

In episode number eight of Financially Simple, Justin takes a close, hard look at what you need to do for yourself to improve your personal sustainability. In order for you to be able to take care of your business, and to be successful and get through the tough times, you need to take care of yourself. Justin talks about the steps business owners should take to make sure that they are physical, me...

In episode seven of Financially Simple, Justin looks at the factors affecting a Business's Sustainability. A sustainable business will flourish in times of plenty, and survive through times of hardship. Justin talks about some reasons businesses fail including the main reason for business failure. He covers the strategies business owners can take to build up a cash reserve to be sure that they can...

Episode six Justin discusses your "bench" - properly investing in your business's team is a wise investment in your business. How strong is your bench? A capable and happy staff in your business means that the business will be strong and sustainable - great qualities that future buyers look for. He talks about how to use agencies to find good staff, and what to look for if you do the hiring yourse...

In episode five of Financially Simple, Justin covers what it takes to build a business empire - Scalability. The Scalability of Your Business is its ability to grow and expand, and even continue to grow without you at the helm. Justin talks about the various systems needed to be put in place to ensure a Business's Scalability, as well as looking at what aspects of a Business's product or service c...

In the fourth episode of Financially Simple, Justin breaks down the mystery of Competitive Advantage for Small Businesses. Competitive Advantages distinguish Small Businesses amongst their competitors – highlighting their positive differences, and making that business stand out from the crowd. Justin covers the six most common attributes of competitive advantage, and how small Business owners can...

In this, the third episode of Financially Simple, Justin talks about the foundations of running a Small Business – the Business Plan, and how to go about creating one to achieve the goals Owners have for their Businesses. Whether you're just starting out, or already running your own Small Business, having a Business Plan in place will help you achieve your results and goals by laying the foundatio...

In the second episode of Financially Simple, Justin starts at the end – selling your business. Knowing the end goal sets the target, so that planning your business and keeping on track becomes easier. Justin talks about how 80% of small businesses never sell, typically because they don't last long enough. He considers what makes a business successful, and what makes a business sellable. In the pro...

The Purpose of the "Building a Sellable Business" Podcast In this, the first episode of Financially Simple's Building A Sellable Business podcast series, Justin Goodbread, shares his story of how he started and sold his first business and moved to Knoxville Tennessee, before eventually becoming a CFP® practitioner and CEPA, and starting his own Financial Planning company. Additionally, Justin shar...