David Chudyk is a certified financial planner, host of the Weekly Wealth Podcast and a Certified Value Builder Systems(tm) Advisor. David helps entrepreneurs build value in their biggest asset- their business itself.
David joins me in this episode to talk about how you can run a business that’s not only more profitable but also is a financial asset.
In this episode, David also discusses:
- David’s background and mission 2:36
- The biggest mindset shifts an entrepreneur needs to make to become more profitable 10:14
- Seperating yourself from your business and hiring out 11:47
- Recurring revenue in business 15:40
- Maintaining control of your business 23:11
- Value drivers to think about when turning your business into an asset 26:05
- Making relationships with your clients more sticky 27:02
Connect with David:
Website | https://www.allofmyassets.com/
Podcast | https://www.weeklywealthpodcast.com/
Things Mentioned in Today’s Episode:
Profit Planner: https://kickstartaccountinginc.com/product/profitplanner/
Book your FREE strategy call https://www.kickstartaccountinginc.com/get-started
What is your financial health? Take the FREE Quiz Here – https://quiz.tryinteract.com/#/6192948f1ab9670018ebce02
Connect with Danielle:
Website | Kickstart Accounting
Facebook | Kickstart Accounting Inc. – Home | Facebook
Instagram | Kickstart Accounting, Inc. (@kickstartaccounting) • Instagram photos and videos
Twitter | Kickstart Accounting Inc. (@KickstartAcct) / Twitter
Book your FREE Discovery call: https://kickstartaccountinginc.com/book-a-call/
Test your Financial Health: https://kickstartaccountinginc.com/checkmyfinancialhealth/
Learn how to pay yourself as a CEO – https://www.kickstartaccountinginc.com/getpaid
Full Episode Transcript:
Intro 0:00
Welcome to entrepreneur money stories, the podcast for women entrepreneurs who want to dig into their money stories so they can break free from limiting beliefs around money once and for all. Hosted by Danielle Hayden, owner of kickstart accounting, Inc. This podcast is a series of real conversations about money mindset with valuable and action packed takeaways for the entrepreneur who’s building their abundant empire. Danielle is a reformed corporate CFO who’s on a mission to help real freakin female entrepreneurs understand their numbers and gain the confidence to create sustainable profits. And now here’s your host, Danielle Hayden.
Danielle 0:40
Welcome back to another episode of entrepreneur money stories. Today we have David Chudyk, a financial advisor with a twist. Well, he has a great process for helping with traditional investments. He also has the ability to help business owners to build the value of their biggest asset, their business itself. David is the podcast host of the Weekly Wealth podcast, you can also find them at all of my assets.com I’m really excited for this episode today. This isn’t a topic that is really near and dear to my heart. David has added the value builders to his financial advisement, advising company value builders that were originally founded by the Built to Sell system. So if you are interested in the topics and creating the value is in your business, in order to create a more sellable business that is more profitable and is easier to run, I really encourage you to pick up the book Built to Sell, and really dig into all of the value builders that are available in that resource. So here is my conversation with David.
David, welcome to entrepreneur money stories. Thank you for being here.
David 2:04
I am super excited to be here. And yeah, I hope everybody will look up the WWW dot Weekly Wealth podcast and look for episode number 98. Where you are the guest.
Danielle 2:14
Yes, it was a great show. And, and that’s where we met. And I was so excited for this recording as well, because you have a topic that’s near and dear to my heart and something that has really transformed my business. And so I find it to be a gift to be able to share it with the audience. So I’m really excited to do that. Let’s start with a little bit about your background. We are what is your what is your mission today? How do you work with clients? And how did you get here?
David 2:41
Yeah, so I’m a certified financial planner. So I’m a financial advisor with an independent registered investment advisor called Parallel financial. So I do all the things that are traditional financial advisor does I talk to you about your financial goals, we figure out where you should have your money invested, we figure out should you have a Roth IRA, a traditional IRA, how much life insurance you might need, if there’s some ways for you to save taxes, really try to nudge you towards going to see your attorney, so you get your wills and powers of attorney done. And really my philosophy is how we handle our money. You know, money doesn’t really matter, just debits and credits, but how we handle our money gives us options and should enhance our lives and the lives of those around us. So, you know, I do the traditional financial planner things, and we have a great process. And hopefully most of my clients would say that they’re able to sleep at night, even during kind of crazy market times like this, because we’re sometimes able to, you know, make sure that we protect some assets and not have everything exposed to the markets. But what makes me a little bit different is I’m a business owner just like you. So I have to make payroll, I have to figure out where we’re going to advertise, I have to figure out, you know, if the toilet is clogged? Do we pay someone $200 to come fix it? Or do we roll up our sleeves. So I know all of the entrepreneurial struggles, and I love it, I would never change it. But it can be a grind, right? But most business owners or a lot of business owners that I talked to, when you’re talking about financial planning, it’s like hey, I mean, you know, I don’t really need to save that much. You know, I’m just going to sell my business for $50 million, and that I won’t have anything to worry about when I retire. Well, number one, where do you come up with that number because it’s wrong. I’ll tell you that right now. And number two, like maybe there are some things that you can do to make your business more sellable. So I became a certified value builder advisor and I started a website called all of my assets.com and what that kind of the premise of that is, as a financial advisor, I work with all of your assets. And if you’re a business owner, you’re probably not doing the things it takes to to make your business more sellable. And let’s face it, a more sellable business is more profitable as well. So if you kind of work on some different things you can. You can sell your business for a higher multiple later, or you can just have an easier and more profitable life today. So, you know, entrepreneurs are stressed out, they’re, they’re pulled in a lot of different directions, so I can kind of help with that stress,
Danielle 5:13
I think you make a really good point. Just because you’re not interested in selling your business today does not mean you turn off this episode, because all these same strategies can help you run a more profitable business and help you run a business with ease. How did you become familiar with this model? And how did you decide to pursue this?
David 5:32
Yeah, like most professions, you know, you’re not the only person in the world that does what you do. So you kind of have to think outside the box and think about, you know, why would somebody use me? How can I be different, what problem is there that I can solve that really not that many other people are looking at solving. So I’m actually a member of a financial advisor mastermind group, and we get together on monthly zoom calls. And there was another advisor in my mastermind group that kind of is involved in the same type of a program. And, you know, I started looking at it and worked with value builder systems and learned about, you know, the incredible value proposition that they offer. And I said, you know, what, this is just really for me, this is a way for me to take the traditional financial planning, and supplement it with something that you can control. So I don’t know if you’ve noticed, even if you were my investment client, your investment accounts probably would be slightly lower today than they were on January 1, because, unfortunately, yes. Right. Is that something you did wrong? No, of course not. Is it something that your advisor did wrong? No, you know, we don’t have control over the stock markets. Now, we have a very purposeful investment process of will we put our clients in investments that makes sense for them. But with that being said, sometimes, you know, inflation skyrockets, and the market doesn’t react the way we want it, and our portfolios drop. Now, let’s look at the other side, your biggest asset, or likely your biggest asset is your business? Well, you have a lot of control over the value of that business. So as an entrepreneur, most of us kind of have that feeling of I want control, I don’t want to just go to a job and get a set salary, I want to build my business and potentially make millions and millions of dollars. And I know that some years, I might not make any money, or I’ll make negative money. But you know, entrepreneurs want control. So what I find is a lot of entrepreneurs, when they start thinking about, well, what can I do to make my biggest asset bigger and better, that gives them that feeling of control. Whereas, you know, I probably lost money in the stock markets, and I don’t like that, but there’s really not a whole lot I can do about it. And if I take my money, just put it in cash, and I’m just losing purchasing power. So it’s not that simple. So, you know, with entrepreneurs, being kind of those driven type people that are solution finders, it’s pretty well received?
Danielle 7:55
Absolutely. I want to clarify one thing for the audience, you’ve called the business and asset a few times. And I love that you’re doing that. However, I do think that is a mindset shift. I don’t hear that our clients or other entrepreneurs call their business that very frequently? So maybe just explain why you consider the business, the entrepreneur is bigger, our biggest asset?
David 8:19
Okay, well, let’s maybe let’s talk about a business that’s not really an asset. So let’s say that Danielle just really likes cutting grass. So Danielle said, You know what, I’m gonna buy a riding mower, I’m gonna get a loan, I’m gonna buy a riding mower, I’m gonna cut some grass, and I’m gonna start a grass cutting business and I’m gonna base my prices on, you know, 2030 $50 an hour, and then you know, you’re not gonna get rich, but you’re, you know, you’re making a living doing something you want. And then Danielle has Danielle’s grass cutting service. And then Danielle comes to David and says, Hey, I’m getting a little older. I don’t like doing physical work. How about I sell Danielle’s grass cutting business to you? And I say, Okay, that’s great. Tell me about kind of, let’s talk about let’s negotiate, you know, so, what am I buying? Well, buying a lawnmower? Do you have signed contracts with all of your customers? No. Do you have other people kind of cutting grass for you where you’re making money when you’re not working? Well, now I’m just kind of cutting my own grass. So you know, there’s really in that case, I mean, it’s not an asset because there’s nothing really buyable other than the physical asset of the lawnmower, or maybe maybe a truck. Now, when you build a business, a purchaser of a business really is purchasing the physical assets of the building, if there’s a building computers, desks, things like that, but they’re also purchasing what the future cash flow is likely to be. So in the case of Danielle’s grass cutting service, everybody’s using Danielle because I liked her. She’s nice. She did a good job. But you know, once Danielle is no longer cutting their grass, there’s nothing to keep them as customers. So but if Danielle had built these systems, where she has 1020 3040 team members that are cutting their grass based on on a system and there’s quality control, there’s written contracts in place, there’s all those things, then all of a sudden you can Look at you know, the earnings before interest, taxes depreciation, and then people are willing to pay kind of a multiple of that because really what what I would be buying in that case would be the future cash flow of of the business. So does that kind of make sense?
Danielle 10:14
I think that’s a great example. It’s created, it’s turning your business into an asset. Again, a mindset shift. And I think this is a big shift, especially for business owners who are accidental entrepreneurs. So I have a hobby. I have a craft. I started doing it because I love doing it. Suddenly, more people want it than I ever anticipated. And I’m an accidental entrepreneur. So I didn’t go into this thinking. I need systems processes and back end procedures. I’m just doing my craft and what I love, and now I suddenly need to turn it into an asset as a podcast lover. I hope you’re enjoying another amazing episode of entrepreneur money stories. I had to interrupt to tell you about an exciting new tool we recently launched. If you’ve been wanting to learn how to start managing your business finances, but don’t know where to start, then visit kickstart accounting inc.com/bootcamp. To receive our new five day video bootcamp series, you’ll receive a video each day that will take you from accounting overwhelm to money powerhouse. So you’re ready to kickstart accounting inc.com/bootcamp. Alright, that’s it episode.
So maybe you can start to just walk us through when you work with business owners, what are some of the biggest mindset shifts that happen as they start to, to think about this and thinking about their business as an asset?
David 11:47
Right, so one of the biggest things that a business owner has to give up is one of the drivers of value is the hub and spoke meaning that the business owner, everything goes through the business owner. And if everything goes through the business owner, the business owner is one person and the business can only go so much. So lots of business owners, and I’m sure you’ve run into this kind of come to your company, like look, I’ve been doing my own books, I suck at it, they’re wrong, I’m bouncing checks, but I’m a control freak, but I need to give it to you because everything can’t go through me, it just can’t. So I need to hire someone who’s good at it. And that’s honestly why you’re in business. So business owners need to get out of that mindset of it’s the business is me it because it the business needs to be a set of systems and processes that can operate without the owner involved. Other than kind of a great overseeing type role. First of all, nobody owns one, McDonald’s either owns zero McDonald’s or 40 of them. And the owner of McDonald’s is not coming in every day and mopping the floor. And it’s not that the owner is too good at mopping the floor, it’s just that there’s different levels of tasks. So now the owner might show up at eat McDonald’s every month or two and kind of do an overall inspection and see how morale is and get a lot of the matrices but the owner of the McDonald’s because it’s a franchise and has systems and processes, you know, they’re just kind of overseeing so one of the biggest thing that a business can start working towards, and you can’t flip the switch today and be totally out of the business. But you have to start working towards being out of the business. And sometimes that’s as simple as hiring a bookkeeper, hiring a bookkeeping service, or sometimes, you know, having other people in your organization return phone calls. So if you return every phone call about billing, about smaller problems and your training customers that they come to you for everything. But if there’s an assistant or another team member that would say, hey, Danielle asked me to return your call, she got your message about you know, your you were thinking your monthly bills gonna be $90 and turned out to be $92 Here’s why it’s 92 when it’s fixed, and Daniel really appreciate your business and, and thank you, you know, that’s just something that, you know, probably we can train our team to deal with. As opposed to handling everything ourselves. We’re not that important, even though we want to think that we are.
Danielle 14:07
This is an ego game. Question. You are used to being the glue, you are used to being ever gonna be so important. You’re so important. Yes. And it is an ego game to start to allow people to not just do what you do, but do it better than you and allow for that to happen. I know that that was the biggest shift for me as I didn’t have to touch everything. So I think that’s a really beautiful shift and just acknowledging that this is ego, and then we have to get over ourselves.
David 14:39
No, no question and the things that you hate doing in business. There’s probably a member of your team that actually enjoys doing that. And, you know, again, I keep going back to the bookkeeping there. You know, if there is a hell, I mean, it’s bookkeeping, you know, but obviously your organization enjoys it, and they’re good at it. So I cannot imagine anybody finding enjoyment in accounting, but obviously lots of people do. And just like, probably the people on your team could never imagine maybe being in a sales role where there’s more business development, but other people like me enjoy that. So finding the right personalities in your team is just hugely important.
Danielle 15:17
So what are some of the other drivers of this? You know, we talked about ego and getting getting out of the out of the way as a business owner, but what are some of the other ways that we, you know, as we’re thinking that we’re ready to start to create our businesses and asset and really separate ourselves so that we can grow our asset as one of the things that we can control? What are some of the other controllables that we have?
David 15:40
Sure, if there’s a way to build a recurring revenue model into your business, that’s a great way of increasing values. So think about like a realtor, a realtor can make 1000s or 10s of $1,000 of dollars on a sale. However, that’s it, you know, now, I might use the same realtor every 10 years when I move, but that’s a long time in between. So while they’re making potentially a good chunk on one transaction, there’s no recurring revenue. So I would not buy Realtors business, because there’s really nothing to buy. But I would buy a business firm that has a recurring revenue model. And you’ll notice a lot of even, contractor type businesses are going to like a subscription to where if you pay a monthly fee, they’ll service your air conditioning twice a year, and then you’ll get like five or 10% off of your service. So they’re getting some revenue every month. And that helps them with their cash flow planning. But it also makes it a more sellable business, because you’re not just bringing in revenue when you’re making that one time sale. So recurring revenue is a huge one. And you can get into some pretty creative ways of doing that. There are some stories of florists that wanted to add the recurring revenue component to their business. So they went to restaurants and hotels and, and they now charge a monthly fee to come and bring us the new plants. So you know, so yeah, you’re gonna make you know, a whole bunch of money around Valentine’s Day, Mother’s Day, but then you have your dry months. But now you have that recurring revenue, where maybe, you know, let’s say Danielle owns a restaurant. So Danielle’s restaurant is a nice place, and she wants to keep all nice, fresh, seasonal flowers, and they might charge you X amount of dollars per month. So now you as a restaurant owner don’t have to worry about your restaurant looking good. And you don’t have to deal with it, you’re gonna write them a check, which is fine, and then they’re going to have that recurring revenue. So a lot of times, you know, there are ways to come up with a recurring revenue model, if you think about it inside of your business.
Danielle 17:39
Okay, sometimes it’s being creative with what we have, I think so often, we get stuck with saying, This is what my industry does. This is what I do. This is what we’ve always done. I can’t do that, because I recently went to a seminar that was all about completely shifting the way we think about problems with approaching every single problem with what are the possibilities? So I think that’s the same thing. When we look at revenue streams, what are the possibilities?
David 18:12
Yep, yep, absolutely, absolutely. No question. Because, again, if you think about it, what is the purchaser looking to buy from you, really, they’re looking to buy an ATM machine that’s going to spit out money. And you know, how much money is it going to spit out for, you know, in the foreseeable future. So if you’re selling a product that is kind of a one time product, you know, I mean, you may have built a customer base that has referrals and everything, but if you’re selling a product or a service, that’s a recurring revenue model, that just gives so much more security that that money is going to be going to be coming, coming in. Another thing with small businesses is kind of financial performance, and the reliability of financial numbers. And this probably would get into a little bit of your wheelhouse, but how many businesses don’t know how much money they made last year, how many businesses if you know if their accountant, if the buyers accountant, really kind of dug into the books, maybe there’ll be some discrepancies. So if you’re looking towards you know, seriously thinking about selling your business, sometimes even having a professional audit of your books, so you can really defend those numbers and have the multiple, you know, be based on actual true numbers. You don’t want the buyer questioning the accuracy of your or of your profit and loss numbers. And as you know, you know, all business owners kind of play the profit game and maybe you try to make the right numbers look low, and then the wrong numbers look high. But having accurate numbers is incredibly often so financial performance is honestly the first one that we normally start looking at with new clients.
Danielle 19:45
And I couldn’t attest to that one more. You know, we’ve seen this so often and with our clients who have come to us trying to build these value systems and their business so that they can be sellable, and eventually do sell their businesses. However, the due diligence process, so that’s the process when a company is is is looking to come in and acquire your business, when they are asking the difficult questions, when they are asking for numbers and they want backup, if you already have that prepared, and it’s clean and organized, you can get more money for your business than if that was not organized. And you’d have to say, Hold on, let me have my account put together with three weeks, three years worth of financial statements for me, so that I could show them to you in two months when they can, when they can get around to doing it. Having that information, allows you to already know what to ask for, and then be able to give that information in a really clean way. Yep,
David 20:45
Yep, absolutely. And that’s, you know, that’s an area where a lot of small businesses just are not not as good, as good as they could be. And again, the buyer is looking at what the future of the business is not necessarily what the past of the businesses. So let me ask you this, if I told you I have a real company, and has revenues of $6 billion 60,000 employees and 9000 stores, would you want to buy that company from me? Probably not. You’re probably because this company is blockbuster, this hypothetical company’s blockbuster. And it had no growth potential, because it wasn’t following technology and everything else. So the past was good. So but there came a point where if you were looking to buy blockbuster, and if you analyze its future, you would have said, yeah, it’s had its best days. So there’s nothing to buy, it’s not keeping up with technology streaming has come. physical stores are not the way to go anymore. So you know, a company that has growth potential, is going to give kind of an increase on a multiple typically of what a business can be sold for. So growth potential is another big one. If you’re in a, if you’re in a growing industry, or if you’re in a growing sector of an industry, where what you’re specifically doing is growing, you certainly can command a higher multiple for business. So,
Danielle 22:06
so talking about the things that we can control? How can we control that?
David 22:11
Well, I mean, you need to first look at reality. So like, if you were a blockbuster, you should have either shut it down. Or you should have said, you know, we have these these new, you know, first Netflix came out, they were mailing CD, DVDs, Blockbuster didn’t really get into that game, and then when streaming happened, you know, I don’t think streaming is like rocket science, I think you could figure out how to how to have a streaming service, they just didn’t do it. So you have to be forward thinking you have to put the right investments towards the right, you know, technologies or services. And then you have to, you know, you have to know, you know, there are certain industries that are just going to die because of technology. So you have to either adapt law. So look at what Netflix did, they were mailing out DVDs, well, I don’t have a DVD player anymore. So they change. And now they, you know, now they have the perfect model, you pay whatever it is 20 something dollars a month, and whether you watched Netflix or not, they’re making money off of you. So that’s the perfect recurring revenue model. And it’s also the perfect model where they made a change based on what they had to do, you know, because of technology.
Danielle 23:11
So in order to continue to maintain control of this, what I hear is that we have to, as a visionary as a CEO of our business, always be looking at the landscape around us. What’s going on in our industry? What’s going on with the industries around us? How are our competitors reacting? How is our industry reacting, what is the technology around our industry, it’s really easy for us as business owners to be heads down, doing the work, and not spending enough time looking at the landscape around us. And it’s a really difficult thing to do, especially if you previously were an employee, in your past life before you became an entrepreneur, you can be very task oriented. And, you know, we all struggle with this to a degree you know, I love my daily to do list and it kills me that there’s not a single thing crossed out today. But that wasn’t the goal of my day to day, it wasn’t to cross things out other than to be here and be present with you. So changing that mindset shift as a business owner, that every day isn’t going to be task driven and that we have to be able to focus on bigger activities.
David 24:24
Yep, absolutely. And that’s absolutely a mind shift. What I’ve found is that a lot of business owners there’s this weird badge of honor on on how many hours you work or how many days you didn’t take off and I I worked seven months straight but sometimes you know you don’t you honestly either you or or your your your your management team needs to get out of the office for a day or two and do a retreat and let’s brainstorm let’s figure out, you know, how do we get, you know, where’s technology going? What do we need to do differently? How can we set ourselves apart? How can we have a better customer experience? Who needs to be doing what within the business? You know, we all have to be purposeful and in just running around and running the business, we have to step away, and we have to be purposeful. And one of the ways you can do that is by hiring, you know, someone like me that, you know, we’re going to get together either by zoom or in person. And we’re going to just deal with this stuff, and we’re gonna have some exercises, and we’re gonna work on, what are some of the specific problems that you’re facing. And then we’re gonna have some homework, and we’re gonna have some accountability, and we’re going to kind of solve those problems. You know, if you work as an employee at a big company, you have a supervisor, there’s only one person who doesn’t have a supervisor, and well, even the CEO has the board to keep happy. So everybody kind of has that fear of, well, you know, my supervisors gonna get on me and I can get fired or get written up. Well, as the owner of the business, you don’t have a supervisor. So it’s easy to kind of do the things that you know are important, but you just procrastinate about because you don’t like doing them. It’s easy not to do them. And those are typically the important things to do.
Danielle 25:55
Absolutely. Are there any other value drivers that are important for us to start to think about as we are turning our business into an asset?
David 26:05
Yeah, so there’s eight of them, and we don’t really have that much time to go into all of them. But yeah, yeah, so customer satisfaction is another thing. Customer satisfaction is, you know, we all think if I asked you how many of your customers are not satisfied, you probably, you know, might think, well, there’s that one that complained, but everybody else loves me more than anything. And that’s probably not the case, we all probably, you know, when we talk about promoters are neutral, you know, a lot of our customers are probably neutral, but are they actively promoting us, because we’ve just overwhelmed them with that great customer experience and customer satisfaction. So that’s another way, you know, for us to look at what experience we are giving our customers, I actually got a super awesome sweatshirt in the mail today from my business coach. So he didn’t have to do that. And you know, but that’s an experience. And that gave me warmth and fuzzies. And he’s a great business coach, and I’m not going to stop using him. But you know, I appreciate the gift. But it also just makes it that much more of a sticky relationship. So how can we make our relationships with our clients more sticky by how we make them feel?
Danielle 27:11
So that’s good.
David 27:13
So businesses typically sell for a multiple of their EBITDA. So by increasing the profitability, you’re also increasing the multiple. So if by looking at the ins and outs of your business, your business goes from $200,000 in profit to 250,000. And let’s say a buyer is now willing to pay a three and a half percent multiple, whereas prior to making changes, they are willing to pay a 2% multiple. So you know, the first scenario there are paying two times 200,000. Now they’re paying three and a half times 250,000, which is a huge, huge difference in how much you’ll sell the business for. So lots of ways, and a lot of reasons to, to really think like a CEO and think about building your business to sell it and you don’t necessarily have to sell it. But when you do sell it, it’ll be worth more. And if you don’t sell it, your life is gonna be a heck of a lot easier.
Danielle 28:08
I love it. Thank you so much for laying those out if there’s one action step that somebody can take, and we talked about a few of them. But if there was one suggestion that you were like, You did nothing else that ended when you end this episode, what is one action step you wish somebody would take,
David 28:23
Think about the task in your business that you absolutely dread completing, and find someone else to do it, find someone who’s competent, whether that means outsourcing it, whether it means somebody on your team, whether it means going to Upwork or Fiverr. But there’s probably those things that just drag you down that you like you just dread doing all day, and it just sucks the life out of you. You shouldn’t be doing that you need to get that out. Because you’re not that important. Let somebody else do it, let somebody else do it right, and then spend that time kind of working on the business instead of procrastinating about something that you dread doing.
Danielle 28:57
Alright. Is there anything that I didn’t ask you today that you wish I would have?
David 29:02
Wow, I like that. That’s a good question. I think the question to ask is, how does the value of your business fit into your overall financial plan? And in most cases, the answer is, I don’t know. I just don’t know. So your asset, your business is an asset, and so is your 401k. So is your Roth IRA, so is your house, there’s rental properties, anything else that you might own, but how does it fit into your overall financial plan? And you need to know that answer for yourself. Specifically,
Danielle 29:37
We need to spend some time and energy focusing on our financial plan in general. So this is one of the questions to make sure that you’re asking yourself as you’re paying attention to not just your business and your business financials but also what where do you see yourself personally? And what are your personal goals? They are so entangled, they are so important to me to understand together in order to be able to achieve success. Yep. Thank you so much for being here. How can the audience continue to stay in touch with you and learn more about what you do?
David 30:11
Yeah, so check out Weekly Wealth podcast on Apple, Spotify, all the major platforms, make sure to check out check out number 98. Because we had a great episode there with a great guest. And also if you’re a business owner, check out my website, www dot all of my assets.com take the value builder score takes just a few minutes, it asks you questions, you can even put in ballpark numbers for revenue and things like that. You don’t need to pull three years of tax returns. But it’s going to help you to understand where you have some opportunities to improve your business and the scalability of your business. So, right as soon as you go to all of my assets.com There’s a big ol pop up. And it’s pretty easy to do and pretty, pretty insightful. Yeah, I
Danielle 30:55
I have taken that before and it takes about less than 15 minutes. It’s, uh, even, you know, the analysis afterwards is fantastic. But even asking yourself those questions, and taking the time to answer them is going to be a self reflection all of itself. Yep. Absolutely. Thank you so much for being here.
David 31:14
Absolutely. I enjoyed it.
Transcribed by https://otter.ai
