Archives: Episodes

Oil and gas investments could unlock powerful cash flow and tax benefits for your portfolio! Patrick Lonergan sits down with Matthew Iak, Executive Vice President of U.S. Energy Development Corporation, to dive into the world of oil and gas investments and the unique opportunities they offer. With over $1.6 billion in capital raised under his leadership, Matthew shares invaluable insights that could significantly impact your investment strategy. 

We explore everything from the mechanics of investing in oil and gas to the issues that you can encounter with this asset class. We also look at the risks, like dry wells, and how political and economic shifts, including the rise of electric vehicles, could affect your returns. You’ll also discover the powerful tax advantages that come with these investments, including deductions related to intangible drilling costs, depletion allowances, and more. This episode is packed with actionable information that could help you optimize your investments and minimize your tax burden.  

Key Takeaways: 

• Understanding Oil & Gas Investments: Learn how investing in multiple wells can diversify your portfolio and provide consistent cash flow. 

• Tax Advantages: Discover the significant tax benefits available, including deductions for intangible drilling costs and depletion allowances. 

• Political and Economic Impact: Explore how shifts in government policies and the rise of electric vehicles might influence the oil and gas industry. 

• Investment Strategies: Gain insights into advanced strategies like 1031 exchanges, Qualified Opportunity Zones, and how to leverage oil and gas for a Roth conversion. 

• Risk Management: Understand the potential risks, such as dry wells, and how to mitigate them in your investment approach. 

• Maximizing Returns: Learn how to optimize your investments to achieve real returns in the oil and gas sector. 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Have you ever wondered how digital companies can stay financially strong while adapting to a fully remote environment?

In this episode of the Vital Strategies Podcast, host Patrick Lonergan is joined by Jody Grunden, an expert in financial management. Jody shares insights from his books “Digital Dollars and Cents“ and “Building the Virtual CFO Firm in the Cloud.” We discuss essential financial strategies that work for any business, emphasizing the importance of forecasting, understanding key performance levers like Utilization and Effective Rate, and managing the revenue pipeline. His practical advice makes complex financial concepts accessible for entrepreneurs at any level. 

Grunden also explores the transition to a virtual CFO firm, highlighting how his own firm grew by leveraging digital tools and remote work setups. He shares key strategies for maintaining financial health, such as keeping 10% of annual revenue in reserve, using dynamic forecasting, and focusing on results-driven culture. This episode offers valuable tips for entrepreneurs looking to thrive in a digital and remote business environment. 

Key Takeaways: 

• Financial Management for Entrepreneurs: Importance of forecasting, identifying key performance levers, and understanding the revenue pipeline. 

• Accessible Financial Concepts: Grunden simplifies complex financial strategies, making them accessible for entrepreneurs at any level. 

• Transitioning to a Virtual Firm: Insights on how to successfully move a firm to a fully virtual environment using digital tools and remote work setups. 

• Maintaining Financial Health: Strategies include keeping 10% of revenue in reserve, separating tax figures, and ensuring at least two payrolls are covered at all times. 

• Dynamic Forecasting: Emphasis on the value of using dynamic forecasting and accurate pipeline metrics to guide decision-making. 

• Results-Driven Culture: Importance of fostering a culture focused on results to drive business success. 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Could the key to your next big win be hidden in the language you use during negotiations? 

In today’s episode of the Vital Strategies Podcast, we dig deep into the art of negotiation, uncovering strategies that have contributed to over $100 million in successful real estate and business deals. We break down the four essential components of crafting a powerful offer and the importance of asking the right questions, create time pressure, and use key language to gain influence in any negotiation. 

We also discuss subtle techniques that can significantly impact your negotiation outcomes. Discover how to skillfully lower the price without offending the other party and effectively handle common objections. This episode is packed with actionable insights that will leave you equipped to navigate negotiations with confidence and achieve the best possible outcomes. 

Key Takeaways: 

• Master the Four Key Components of an Offer: Learn how to build relationships, create win-win agreements, and identify the true motivations behind any deal. 

• Formulate Powerful Questions: Discover the importance of asking the right questions, including the strategic use of “why” to uncover hidden needs. 

• Use Confusion to Your Advantage: Understand how acting confused can be a powerful tool to shift negotiations in your favor. 

• Apply Time Pressure Effectively: Leverage timing as a crucial factor to drive decisions and close deals faster. 

• Strategically Handle Financial Details: Learn why it’s advantageous to avoid proposing financial details early on and how to approach them when necessary. 

• Softly Lower Prices: Explore subtle techniques for reducing prices without damaging the relationship or the deal. 

• Recognize and Address Common Objections: Equip yourself with strategies to effectively counter objections and keep the negotiation on track. 

• Implement the 3 R’s: Realistic expectations, applying a range, and involving a broker or realtor (or business broker) can significantly impact the negotiation process. 

Episode Resources: 

Never Split the Difference – Chris Voss and Tahl Raz

Getting to Yes – Roger Fisher and William L. Ury

Influence the Psychology of Persuasion – Robert B Cialdini, PhD

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

What Are the Secrets to Ultimate Health and Wellness? Dive into this special collaborative episode of the Vital Strategies Podcast where we bring together the wisdom and experiences of four incredible guest experts, each sharing their unique perspectives on health and wellness. This episode is packed with actionable insights and transformative ideas that will help you take your well-being to the next level. 

Featuring: 

Claire Darr: The Power of One Decision 

Dr. McCoy: Your First Steps to Wellness 

David Greer: Overcoming Poor Habits and Finding Fulfillment 

Amanda Asay: Mastering Mental Health 

This episode is more than just a discussion; it’s a roadmap to a healthier, more fulfilling life. Whether you’re struggling with poor habits, seeking better mental health, or looking to optimize your fitness and wellness routines, our experts have got you covered. Don’t miss out on these life-changing insights – your journey to wellness starts here! 

Key Takeaways: 

• Transformative Decision: Learn the one commitment that can revolutionize your life, as shared by Claire Darr. 

• Morning Routines: Discover the secrets to creating effective and energizing morning routines. 

• Human First Approach: Explore Dr. McCoy’s holistic ‘Human First’ approach to health and wellness. 

• Nutrition and Fitness: Get insights on proper nutrition, balanced fitness regimens, and the importance of recovery and sleep. 

• Overcoming Addiction: Hear David Greer’s journey of battling alcoholism and the importance of admitting you have a problem. 

• Mental Health: Understand mental health, brain function, and finding true fulfillment through accountability. 

• Self-Assessments and Coping: Learn from Amanda Asay about self-assessments for mental health, healthy coping mechanisms, and the value of trusted confidants. 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Curious about which business entity is right for you? In this episode of the Vital Strategies Podcast, host Patrick Lonergan digs deep into the intricacies of entity selection for entrepreneurs. The episode covers the essential types of business entities, including sole proprietorships, partnerships, LLCs, corporations (both C-corp and S-corp elections), and co-ops. Patrick highlights the flexibility of LLCs, his personal favorite, and explores the benefits and liabilities associated with each entity type. The discussion provides a comprehensive guide on how to set up these entities, emphasizing the importance of choosing a structure that best suits individual business needs. 

Listen all the way to the end to gain valuable insights into the tax classifications and requirements that must be met, along with what the IRS scrutinizes in each entity. Patrick also explains how combining different entities can create a robust structure tailored to specific business goals. This episode is a must-listen for any entrepreneur looking to make informed decisions about their business structure, ensuring both legal protection and tax efficiency. Tune in to equip yourself with the knowledge to choose the best entity for your venture and maximize your business potential. 

Key Takeaways: 

• Types of Business Entities: Overview of sole proprietorships, partnerships, LLCs, C-corporations, S-corporations, and co-ops. 

• Flexibility of LLCs: Highlighting LLCs as a favorite due to their flexibility. 

• Liability Considerations: Understanding the liabilities associated with each entity type. 

• Setting Up Entities: Step-by-step guide on how to set up different business entities. 

• Benefits of Each Entity: Detailed benefits and advantages of each business structure. 

• Combining Entities: Exploring how combinations of different entities can create a tailored structure. 

• Tax Classifications: Insight into various tax classifications and implications for each entity type. 

• IRS Requirements: Key requirements and what the IRS looks for in each business entity. 

• Choosing the Right Structure: Tips on creating the best structure to suit individual business needs and goals. 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

If you are curious how to have 150 days (about 5 months) a year off from work and still see exponential business and personal growth you are in for a treat. Steven shares his perspectives about the secrets behind building a championship team and empowering people to reach their full potential. 

In this episode of the Vital Strategies Podcast, host Patrick Lonergan is joined by the multi-talented Steven Neuner. Steven is not only the co-founder of Superpowers, a successful virtual assistant service, but also the co-hosts of “The Next Level Show” podcast.  

Steven shared his strategic approach to building championship teams, emphasizing the importance of empowering people, delegating effectively, and providing opportunities for financial peace. His philosophy revolves around giving people a platform to realize their full potential and creating systems that work seamlessly. He candidly discussed his journey from feeling “not good enough” to achieving personal redemption through faith, coaching, and hard work.  

Steven’s insights into not just running a successful business but also living a fulfilling life left us with much to ponder. Tune in to this episode to hear Steven Neuner’s inspiring journey and gain valuable insights into balancing entrepreneurial success with personal fulfillment.  

Key Takeaways: 

• Growth Mindset: Influenced by the Strategic Coach program as both a student and a coach.
• Championship Team Building: Focused on creating high performing teams and empowering team members through delegation.
• Strategic Leadership: Highlights the significance of being a systems thinker and a proactive leader.
• Embracing Free Days: 150 free days a year, completely unplugged from work, to rejuvenate and have vitality to create a high value life.
• Community and Personal Life: The importance of community and the influence of the five closest people around you. Balancing entrepreneurial success with a fulfilling personal life rooted in faith and family.
• Philosophy and Personal Development: Continuous personal growth and redemption through faith, coaching, and hard work. As well as the importance of character and values in business and personal life. 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Want to learn how top entrepreneurs are leveraging AI to stay ahead of the curve? Today we’re diving into the transformative world of Artificial Intelligence (AI). AI is more than a buzzword; it’s a powerful tool that can revolutionize your business operations. In this episode, we explore practical applications of AI and share real-life success stories that showcase its potential. From enhancing customer experiences to optimizing operations, AI offers endless possibilities for entrepreneurs. At the end of this episode, we outline how we created this entire podcast episode utilizing AI. 

Whether you’re a small business owner or a high-level entrepreneur, this episode is packed with insights on how AI can drive your business to new heights. Discover how AI can automate routine tasks, provide deep insights, and become a powerful ally in your growth strategy. Don’t miss out on learning how to leverage AI to make data-driven decisions and enhance your business operations 

Key Takeaways:  

• Introduction to AI: Understanding AI as the simulation of human intelligence in machines. 

• Practical Applications: Implementing AI tools like Otter.ai for note-taking and meeting management. 

• Customer Experience: Case studies of AI enhancing customer interactions, such as Sephora’s Virtual Artist and UPS’s ORION system. 

• Data Analysis: Using AI to analyze financial data and market trends for informed decision-making. 

• Small Business Applications: Affordable AI tools for customer service, marketing automation, and inventory management. 

• Challenges and Cautionary Tales: Examples of AI missteps and the importance of careful implementation. 

• Ethical Considerations: The need for regulation and ethical use of AI, as discussed by Elon Musk and illustrated by the Sandy AI project. 

• Advanced AI Applications: Exploring predictive analytics and AI-driven cybersecurity for competitive advantage. 

• Future Potential: Starting small with AI integration, learning from each implementation, and scaling up gradually. 

Episode Resources: 

Vitalstrategies.com/AI 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Have you ever felt overwhelmed by the pressures of your business? Today, Patrick sits down with Claire Darr to explore the critical topic of burnout and discover practical ways you can achieve a more harmonious life. Drawing from Claire’s experience as a former corporate attorney, the discussion explores the immense stress that comes with high-powered roles and the realization that a better, more well-rounded way of living is possible. 

You will learn about simple habits that can help move from overwhelm to feeling energized. Patrick and Claire share practical advice for managing life’s pressures, making time for oneself, and the importance of rest for mental and physical health. Instead of striving for perfect balance, the conversation shifts to achieving harmony across relationships, hobbies, personal health, and career. 

Don’t miss this conversation that promises to offer valuable takeaways for when you are feeling the pressures of a demanding life. Tune in to find out how you can create harmony and prevent burnout in your own life. 

Key Takeaways: 

• Simple Habits: Introduction to simple, effective habits that help move from overwhelm to feeling energized. 

• Balancing Passion and Career: Discussion on pursuing non-revenue-generating passions and balancing them with career demands. 

• Managing Life Pressures: Strategies for dealing with the constant pressures of life and making time for oneself. 

• Importance of Rest: Emphasis on the necessity of rest and sleep as key factors in preventing burnout and maintaining health. 

• Mental and Physical Health: Practical advice on maintaining both mental and physical health to avoid burnout. 

• Achieving Harmony: Shifting the focus from balance to harmony, ensuring the right amount of attention to relationships, hobbies, personal health, and career. 

Guest Information:

Claire Darr’s Workshop: Beat The Burnout 3-Day FREE Workshop

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

What makes real estate a more hands-on investment compared to traditional stocks, and why could this be your path to financial freedom? 

In our latest episode, we sit down with Brian Dohmen, the founder and Managing Partner of Altitude Capital Partners. With a rich background as a banker and asset manager, Brian’s unique journey into real estate development offers invaluable insights for both seasoned investors and newcomers alike. 

Brian shares his experience, detailing how his successful career in private credit asset management led him to recognize a more lucrative path in real estate. He saw an unparalleled opportunity to build wealth and has since been executing strategic deals across various locations. We also discuss the hands-on nature of real estate, underscoring that without proper attention and experience, investors can quickly find themselves in financial trouble. 

This episode is a must listen to learn how to navigate the dynamic world of real estate, the importance of infrastructure, and the opportunities that lie ahead. Don’t miss out on this insightful conversation that could change the way you think about building wealth. 

Key Takeaways: 

• Strategic Deals: An overview of the types of real estate deals Brian is involved in and their locations. 

• Portfolio Investment vs. Real Estate: The importance of understanding the active nature of real estate investments compared to passive investments like the S&P 500 fund. 

• Partnering to Create a Hands-Off Approach: Bringing operators and investors together can be a win-win scenario. 

• Team and Management: Insights into how Brian’s team manages the development and operations of real estate projects. 

• Profitability in Real Estate: Various ways to make money in real estate, with a focus on multifamily properties. 

• Accredited Investor Criteria: Requirements for becoming an accredited investor, including income and net worth benchmarks. 

Guest Information:

Altitude Capital Partners – Building Partnerships to Unlock Value (altitude-cp.com)

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien 

Have you thought about expanding your business to a virtual setup? In today’s episode we discuss our teams virtual set up and how we have navigated building our team for remote work.

In this week’s episode of the Vital Strategies Podcast, I brought together members of our team to dive into the intricacies of our virtual work environment, highlighting what works for us and the challenges we’ve faced. We discuss the critical aspects of hiring self-driven, accountable, and results-oriented individuals to build a cohesive remote team. Maintaining work-life balance, combating Zoom fatigue, creating intentional boundaries and social interactions are key themes.  

The benefits of our virtual setup extend to our clients as well, allowing us to serve entrepreneurs with a broader reach than a local-only presence would permit. This expanded reach has helped us build stronger trust and relationships, enhancing the customer experience. Listen through to hear each team member’s take on what it takes to make a great remote environment and how we have overcome challenges that remote work can bring.  

Key Takeaways: 

• Crucial hiring criteria 
• Maintain work-life balance 
• Create intentional boundaries and fostering social interactions 
• Ensure team cohesion through periodic in-person gatherings and strong communication 
• Serve niche markets with a broader reach than local-only presence allows 
• Building trust and relationships with clients 
• Staying at the forefront of technology for productivity and efficiency 
• Essential qualities for virtual team members 

Resources:   

Visit www.vitalstrategies.com to download FREE resources     

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    

Follow on Instagram at https://www.instagram.com/vital.strategies      

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     

Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O’Brien