109 | Create a Multi-Million Dollar Exit using The 5-Pillar System with Justin Goodbread

Patrick: [00:00:00] Have you ever wondered why some business owners seem to scale effortlessly selling for eight or even nine figures and actually enjoy the process while others get stuck, burned out, or build a business they secretly hate? Welcome back to another episode of the Vital Wealth Strategies Podcast. I’m your host, Patrick Lonergan, and today’s conversation is going to be a game changer for every entrepreneur who wants to not only build wealth.
But their own freedom. My guest today is Justin Good Bread, a nationally recognized business strategist, bestselling author, and creator of the Deca Millionaire Framework. Justin’s helped service-based business owners scale to eight and nine figure exits with clarity, structure, and purpose. He’s been featured on more than a hundred shows, and he brings that rare blend of humor, southern grit, and hard-earned wisdom from the trenches.
In this episode, Justin breaks down what he calls the five stages of growing and exiting a seven figure business. We talk about how to [00:01:00] reduce your dependence on the business without losing your soul. How to avoid building a business you secretly resent, and why most founders exit too late and too small.
If you’ve ever dreamed of creating a business that runs without you and ultimately sets you up for a life of real freedom, this is an episode you want to listen to all the way through. And if you’re serious about taking what you learned today and turning it into action, head over to vital strategies.com/task.
Where you can start building your own personalized tax and wealth strategy. ’cause scaling your business without a strategic tax plan is like trying to fill a bucket full of holes. Again, that’s vital strategies.com/tax. Your first step towards keeping more of what you earn and building the wealth you deserve.
If you enjoy this conversation, it’d mean the world. If you left a quick review, wherever your list. It helps us bring more incredible guests like Justin and keep sharing strategies that help you grow, protect, and enjoy your wealth. Alright, let’s jump into the conversation with Justin. Good Bread. I’m excited about today’s [00:02:00] conversation.
We’ve got Justin Good bread on the, the show today, and we’re gonna really talk about what it takes to create a successful business exit and how to, how to generate enterprise value. And, uh, so this, this conversation’s going to be wonderful. It’s gonna apply to everybody listening. Justin, thank you so much for, for joining us here today.
Jason: Hey, Patrick, man, thanks for having me. I’m looking forward to this conversation, brother.
Patrick: Yeah, I think this is going to be fun. So I, we are often seeing that entrepreneurs often don’t know how to maximize the value of their business, prepare for a profitable exit, and they, they often face uncertainty about valuation, succession, timing.
Uh, I’m thinking about Cody Sanchez’s book, a Main Street Millionaire. There’s so many business owners out there that are just like, I don’t know what this next chapter looks like. And so. I’m excited to dig into that. They also feel overwhelmed by the complexity of, we’ll just say building, scaling and selling a company.
Uh, and then they’re emotionally tied to their business. It’s their baby. And their, their fear of losing control or, or leaving value on the table is [00:03:00] a, is a scary thing. And then philosophically, like, we just feel like no one should have to work a lifetime to build something, uh, that’s really valuable and to walk away from it for, for less than what it’s worth.
And so. We think every entrepreneur deserves to reap the full rewards of what they built. And, uh, I’m excited about you being here today, helping us sort of unpack some of these problems. So, uh, this is going to be fun. Can you tell us a little bit of your background? How did you get involved in, in helping entrepreneurs really build and uh, scale their their businesses?
Jason: Sure. So I started my first business when I was 15. It was a typical, you know, chuck in the truck type of a, uh, business. Started cutting grass, but by the time I was 17, my brother, who was two years younger and I were both net operating income, taking home more money than my mom and dad combined, each of us.
And so we were like, we, we tripled our family’s income within a matter of two years being business owners. Shortly thereafter, we, I sold that company and as since then have started and or sold seven companies for seven, eight, and [00:04:00] nine value figure valuations. Where I’m at presently in my life is speaking directly to what you were just mentioning.
You know, I love business owners. I often say business owners are my peeps. I mean, we’re, we’re like brothers from another mother, if you will, but it’s so sad to me and it breaks my heart, dude, whenever I saw my last company, I tried to retire, my wife kicked me outta the house. She’s like, go figure out something to do.
And like, you know, I, I’m so heartbroken for business owners who spend decades. Of their lives in the communities working, you know, with the customers that, that have earned their respect and they’re adding value to their communities and their, their teams and their vendors, and even charities, uh, you know, business owner pays.
We pay a lot of bills, we make a lot of payments for communities and for people. And then to have this idea. That, that because we’re perhaps ignorant is the word I want to use, unlearner. We’ve never dealt with an exit before. We really don’t understand how valuation works. We make good income. Then all of a sudden, some [00:05:00] young s kid’s gonna come along and try to buy the business pennies on the dollar.
And there’s people that are writing books about this and talking about how to, you know, build your life up at the detriment of business owners. That just irks me. And Patrick, I gotta tell you, whenever I started seeing this happen, I’m like, there’s a different way. There is a way to which we, business owners can maintain our sanity, number one, but more importantly, we can maintain the level of lifestyle that we’re used to without having to have a declination in our lifestyle while still providing for our communities and our employees and our clients and our charities and our vendors.
And so that journey over the last 30 years of being a business owner, having multiple exits, and now seeing the marketplace says it’s time, it’s time for us to have a different loud voice, which is why I’m so glad of your podcast, dude, and what you’re doing. I, I can’t wait for us to unpack a lot of this stuff together.
Patrick: Yeah, yeah. This is going to be, this is gonna be a lot of fun. So I, I think I, I’d love to walk through your framework. I, I think your relentless coaching program is, is incredible. So I, I think it all [00:06:00] starts with, with foundation and, uh, unlocking clarity and direction. So can you walk us through what it looks like to, to, to lay a good foundation?
Jason: Yeah. So whenever I’m, I’m a believer that if I can find somebody who has been there, done that. I can shortcut my pain. I believe that I just came out of a month, off month in the Rocky Mountains with my boys. We were elk hunting Patrick. And you know, whenever I go into the Rocky Mountains and doesn’t matter where, matter where I go, I find a guide who knows the mountain range.
They know the trails, they know where the water is, so we can drink some water over up at altitude. But I find a guide who knows the terrain. And what I’ve noticed throughout the, you know, almost over three decades of being a business owner is that. Somebody who has been there, done that. They know the shortcuts many times.
Yeah. And so I use this word framework. Mm-hmm. A framework is simply a roadmap that has proven success. Our framework, we call it the Deca Millionaire Way, as you [00:07:00] talked about, and we’ll talk about why Deca millionaire, but we have five points on the framework and it’s this foolproof, again, I’m a country boy, born and raised on a dirt road in South Georgia.
You wrestled alligators as a kid and live in East Tennessee. And I’m gonna tell you friends, if a country boy born and raised in the south can have this level of success that we’ve been able to have, anybody can do it. Ain’t that smart, but there’s a proven framework that I can follow. Mm-hmm. So the very first point, as you pointed out, is foundation to me.
We often hear these terms and they drive me crazy as a business owner. So go ahead. If you’re driving down the road, be careful. Don’t, you know, don’t try to go off into the media when I say these words, but we often hear these terms of vision, mission, and values. Mm-hmm. And at that point, you’re probably like, dude, seriously?
Yeah. No, I get it. But the reality is, is that a foundation ultimately rests on where are you going? How are you gonna get there and why does it matter?
Patrick: Yeah.
Jason: And so many business owners, Patrick, we, we don’t take the time to get a little [00:08:00] quiet. And look at specifically where do we want to go? Let, let’s use exit.
As you start out the conversation with mm-hmm. We know that we’re gonna leave our company at some point. We know that’s gonna happen. And we also, let’s, let’s be honest, we as business owners are the ultimate control freaks. Mm-hmm. We wanna control everything, but what we don’t control is how we’re going to leave our company.
So when we talk about vision, we obviously wanna make more money. We wanna have more prestige, we want to get more influence. Whatever your, your mo motivation is for you, there’s gotta be a point in life to where it, your, your vision of your future, your purpose, if you will, whatever that calling in your life, that’s my word I like to use, calling.
Whatever that you’ve been designed for in your life, there’s gotta be something that’s greater than the business. And if we can take a step back and look at it, maybe it’s being a great husband or a great father or a great mother or a great spouse or a great teacher or a great mentor, whatever it may be, there’s something greater than the business.
And so foundation rests in our framework of beneath everything [00:09:00] else we do. So you, whenever you get to relentless examination, the second pillar, mm-hmm. It doesn’t do any good to have to examine your business if you’re not counting it against where you’re going to be, or best second of all, how you’re gonna get there, or third of all.
The third one is values. How many times, and I’ll shut up after this, but I, you can tell I get passionate about this because I’m a business owner. 30 years, dude. Yeah. How many times have we laid awake at night wondering if that big client’s gonna leave? If our key employee’s gonna take one of our clients and leave if our key employee just jacks something up, if we’re gonna have enough money to pay them when all the reality of our worries and our anxiety and our stresses and the frustration is ultimately rooted in, there’s a misalignment with something that’s happening in the business and our values.
But we never pause long enough to examine what is it that truly makes us tick as business owners. So the, the, the Deca Millionaire Framework, somebody who wants to strive to be a deca millionaire, somebody worth $10 million or more in valuation or net worth, you gotta know where you’re going. How you’re gonna get there [00:10:00] and why it matters.
That’s the foundation. That’s what we deal with in the very first pillar.
Patrick: Yeah. I, I love this. So there’s, there’s a few things that we need to, to touch on. So I, I like that you’re highlighting, ’cause it, this, this is a, it’s obvious, but we’re all leaving our businesses at some point, right? None of us are living forever.
So we have a choice. We can either go out feet first, right? Like we can die in the office. Or we can, we can capitalize on the value that we’ve created and, and sell this and move on to our next, next chapter. So I, I think that that’s, that’s fantastic. Uh, that we’re acknowledging that and, ’cause I think most people just keep grinding.
They’re just like, I’m just gonna keep showing up tomorrow. Then the other thing that you, you talk about is, um, this ancient wisdom without a vision that people perish. Right. You know, we’ve, we’ve, we see that in the scriptures that, uh, you know, if we don’t have a vision for where we’re going. We’re gonna, we’re gonna just wander aimlessly, right?
Like drifting is not a, a strategy. And so, uh, I think having a, a very clear vision, mission, vision, core values, you know, [00:11:00] all of that stuff is, uh, uh, is fantastic for, for driving the business forward. And it, it, it doesn’t matter if we don’t have that, like you said, the, the examination, like, okay, I might have good information, but I don’t know if I’m on track or off track.
And so I, even though it’s been around for a long time, you gotta have that vision for. Moving the, the business forward. So this is, this is good and I love your passion. I can
Jason: use this. I wanna just double click on something. Mm-hmm. Yes. Mm-hmm. Scripture’s very clear where there’s no vision that people perish.
That is exactly correct. Powerful verse, powerful principle. But here’s, it’s just even more interesting to me, and I’m a believer, I’m a Christian, so I was, I’m reading Habakkuk Habak says, to write your vision down. Okay, here. Here’s why we miss it as business owners is we’ll get this. We’ll get this inspiration.
We’ll chase the shiny object. We know we’re gonna create the greatest widge or the greatest service that sliced bread out there. We’re gonna have this thing. But oftentimes now we get into the fray, we get into the turmoil, we get into the struggles that we as [00:12:00] business owners all deal with and are dealing with presently.
The idea behind a vision, mission, or values. By writing these things down, they actually permeate every part of your business. Literally, your team, if you do this right, and when you get to the other pillars, your team’s able to see it, and it provides them stability and it provides them continuity for what you’re delivering to your clients.
So it’s not just about. Having and getting clarity. It’s about writing them down and being purposeful for everything you do within your company around what we’re just coining and talk flippantly saying vision, mission, and values. Yeah. They have to permeate every part of your business. They have to. If they don’t, they’re, you’re gonna have problems.
Patrick: Yep. And then I think after writing it down, you’ve gotta just keep saying it. Absolute. And when you’re finally blue in the face from saying it, people start to recognize that you have a vision and a path forward. And then eventually they, they, they start to go, oh, I understand. Where we’re going. I can make decisions based on that because it’s been communicated, uh, clearly to the organization.
So I think this is, this is great. Um, [00:13:00] alright, so next we’ve laid that foundation. Now we’re gonna start looking, examining, you know, we’re gonna cut through some of the confusion. Can you talk us through where, where we’re at on the, the examination side?
Jason: Absolutely. So, examination for a business owner has to be, do, uh, two-sided.
It’s not like a pancake. You’ve never seen one side of it or one sided pancake. There’s always two sides. Okay. Oftentimes, we as business owners are so laser focused on the business we miss life. So what we start off with is nothing that I’ve created, you’ve probably seen this on a mug somewhere on a t-shirt.
There are five elements that every one of us deal with in life, and it’s a matter of prioritizing where we’re at. So what we deal with on a personal aspect first is your faith, family, friends, fitness and finances. The five Fs I call it. You’ve probably seen it on a t-shirt, man. Yeah. Again, I’m not that creative guys.
I’m telling you, if this country boy’s had this much success, you can too. I promise you. Whenever you look at those five F’s, faith, family, friends, fitness, finances, oftentimes what we as business owners do is we [00:14:00] get things outta whack. Mm-hmm. I’ve yet to talk to a business owner who says, my family is not in the top one or two or three.
Yeah. I’ve not seen that yet. What we often do though, is business owners, we spend almost every waking moment of our life thinking about finances, thinking about that asset we call a business the number one thing on our balance sheet. Mm-hmm. And often if we really get quiet. As a coach to a client, what we discover is, is that our faith or our family is typically in the number one.
Why do we have a business? Because we wanna afford something for our family that we didn’t afford in our own life, that we didn’t have the privilege to. We want to leave our kids better than what we started off in life. Then we talk about our friends. How many of us does business owners truly have friends?
Yeah. You know, we find ourselves, if we’re very candid, we find ourselves isolated and from one business owner to another, it’s lonely. It’s lonely. And then who do you talk to? Do you talk to your significant other spouse? Many times they don’t understand it. Do you talk to a pastor or a bishop or a priest?
They don’t have a clue. Only a [00:15:00] person who understands a business owner is a business owner, but yet we are so isolated that oftentimes we miss so much joy, so much fulfillment, so much, so much more even in our business by not having friends. Now faith is one, to me, is my number one because you’re not gonna achieve your calling, your vision without a, a true belief system in something.
You may not be a Christian. You may be a, a different type of religion. It doesn’t matter. You have some sort of faith that you can accomplish it or else you wouldn’t have gone to business. I mean, MBAs look at us and they think, why in the world are you guys entrepreneurs? You guys are psycho, but, but we truly believe we can do something.
So to me, faith and family and friends are huge. When we get to our business, how many of us, um, and it’s come a little bit more recently because of some of my buddies who are on the internet, but we now take a little bit more pride in our health. Mm-hmm. But I can tell you many business owners who have a lot of money, but they have no wealth now because they have no health.
And so what good is it to gain the world financially or build empires in business if we can’t enjoy it? So what [00:16:00] we deal with on in this relentless examination is, first of all, who are you as a business owner? Is your life in harmony? Do you have these five elements down? And I wanna go to this, the business side before do, let me pause and see if you have any questions.
Those five s
Patrick: Yeah, no, this is great. ’cause I, I think one thing that is, is awfully interesting. Most people will acknowledge that they’re. Their family, and hopefully their faith is first on that list. And, but when then you start looking at their actions, they, they don’t, it’s not the number one priority.
You know, it, it’s the right thing to say, but really what happens is the business becomes, you know, sort of the, the altar that we’re, we’re shipping at. And it’s like, I’m, I’m gonna, I’m gonna build this. And, and oftentimes we can do it under the guise of, I’m doing this for the benefit of my family, I’m doing this so I can have impact in the.
Kingdom I’m doing this, you know, for all of these, these reasons, they sound really good. But at the end of the day, I’m finding a lot of my, my value and self-worth in the business that I’m building and, you know, some of [00:17:00] those pieces. And so I, I think it’s really good to not just, uh, like you’re highlighting, let’s, let’s examine it, but let’s then align it, right?
Let’s make sure that we’re really in alignment, uh, because at the end of the day, we’ll find out it’ll start to fall apart. Oh, yeah. Uh, your business isn’t very valuable when you’re divorced and your wife just took half of it. Uh, your business isn’t very valuable if you’re morally bankrupt, right? Uh, and so I, I think having all the, your business isn’t that valuable if your kids want nothing to do with you, right?
Like, you know, all of those things are at the end of the day when they start falling apart and you’re like, man, keep the business. I need to go back and get these things, uh, get these things right. So I, I appreciate, uh, that, and I think it’s a. That’s the best place to start. Absolutely. Uh, when we’re, when we’re starting to examine.
So thank you for, for highlighting that.
Jason: Yeah, absolutely. It’s interesting now after coaching hundreds of business owners to double and triple the value of their companies. Even today, we just signed out. We, we, I only deal with three private clients at a time. We just had a new private client engaged.
We’re talking $250,000 coaching engagement. The [00:18:00] number one complaint was not the business, it was their kids don’t talk to ’em because the business became their idol. How do I take my business down and get it back in harmony with the rest of my life? How do I now make sure that my husband, this is a female business owner?
How do I make sure my husband respects me as a human, not as a business owner, as a money machine? Yeah, that was the number one complaint this person had. And whenever I’ve talked to literally thousands of business owners, Patrick, it’s never, yes, we want our business to do better. Yes, we wanna make more money.
Yes, we wanna have more influence. Yes, we wanna be good stewards of the talent that we’ve been given. We want that. Well, it doesn’t do us any good at the rest of our life without balance. So we always start there on that one side of that pancake, if you will. Mm-hmm. Now the flip the pancake over, let’s do it.
But we really like to have fun because the business is our baby, right? So when we look at a business, we examine eight different areas of business. There’s 256 metrics that you can move to drive the value of a company up. You literally can double or triple the value of the company, of any company out there within as little as 18 [00:19:00] months.
It can be done. I’ve done it too many times in my own life and for other clients. So if you look at, uh, pan, if you look at the, um, the eight areas of business, I want you to think about, now I’m gonna show my age here, Patrick, but when I was a kid, we had this wheel of death. We call it a Merry Goro that you would hang onto and we get Bubba on one side of the merry ground.
Everybody knows a bubba. Yeah. We get Bubba on one side of the merry-go-round, and me and my little. Kenny friends would be on the other side of Merry Ground and we were like, hold on for dear life. We were, our feet were verticals just spinning around and around. If you let go. I mean, everybody giggled if you didn’t die.
Patrick: Yep.
Jason: That’s what I want you to think about in terms of these eight areas. Think about it like almost like a merry-go-round. In these, you have eight different segments. The first one is planning. Where are you going and why are you going there? I’m planning. The second segment is leadership. How are you leading, or how is, how are you leading top down and bottom, up and horizontally?
Do you have leadership throughout the entire organization? It cannot be an ivory tower type of business if you’re gonna, if you’re gonna create value. The third area is marketing. Marketing is attracting [00:20:00] the proper client. One client, proper avatar to your business, not multiple one. Sales is converting that person as that’s the fourth segment, converting that avatar to a paying customer.
The next segment of your business is your people part. By the way, that’s one of your single largest assets is the value of your bench. It adds more value to more, more, more in terms of increased multiple than most anything else in your business does. So your fifth part is people. Then you have operation.
Some people call it throughput. Some people like deal with sig sigma, lean financials, things of that nature. But it’s how you’re delivering your product or your service to your customer in an effective manner. The seventh part is now finance. Now, well, that’s the money component. We’re talking about A PAR, accounts payable, accounts receivable.
We’re talking about CFO type work. By the way, there’s about 86 KPIs alone in finance segment. Yeah. Then you have, the last part is risk management. Some people refer to it as legal. These are all the state compliance regs. These are, if you’re like in the, in the, like in industry, like the financial world dealing with compliance or if you’re in the [00:21:00] healthcare, dealing with osha, various things of that nature.
These are all the compliance things that you deal with and insurances. So whenever you look at these eight areas of a business. You think about Bubba, on the merry-go-round whenever we had a lot of fun is whenever it was balanced. Whenever we get that merry-go-round where all of them were equal, but with Bubba was too big on one side, we didn’t have enough weight to offset Bubba.
Man, that merry-go-round wouldn’t sell very good. We didn’t have as much fun. Mm-hmm. The same is true in your business in those eight areas, there’s 256 metrics that if we can get harmony amongst those 256 metrics, then now what you created is a best in class business. When we look at examination, what we’re examining is, is what are the weakest areas of the business and how do we improve those?
And as we improve those, how do we also make sure that we’re not creating a counterweight as we’re improving those single areas of business?
Patrick: Yeah, I love this and I, I really like the idea of harmony. You know, people often talk about balance. I’m like, balance is okay, but harmony is the right [00:22:00] amount of, you know, when I think about the orchestra, right, it’s the right amount of.
Violin, uh, in that piece of music. And, and I think about as a business grows, sometimes my, my planning can be on point. My, uh, sales and marketing can be killing it. And then eventually, because those are killing it, now my operations is struggling. ’cause we’re, we’re, we’re throwing so much revenue through the system.
It’s like, Ooh, we’re not used to this. We need to. We need to maybe not just restructure how we’re performing, but the team that’s performing and the systems and processes that they’re using to perform. So, uh, I think this is, uh, this is brilliant. Um, and, and it’s, it’s always evolving, right? As the business is changing, you know, it’s never gonna just be, oh, yep, here we’re just gonna go fix this one thing.
Things can be, you know, if I’m looking at my scores, you know, my KPIs, and if I’ve got. You know, a lot of factors at, at sevens and eights, I don’t need to take those to [00:23:00] nines, right? I need to get the two up to a six, you know, uh, to, to make sure that the business runs apart quickly. Because if I’m out of balance, if I, if I have that one spot that is weak, it’s gonna slow the whole ship down.
So I think, well, I want you
Jason: to think about this way. So let me add another layer on this. Now, if we had the merry go around in our head, we know there’s eight areas of business. We know there’s 10, uh, 256 metrics underneath those eight areas. Where’s the owner in this? Oftentimes the reason why businesses do not have the proper valuation and we’re stuck is the owner is sitting in the mirror, middle of the merry-go-round.
Now it’s fun. It’s fun to sit there in the middle of spin around, around in circles. We get dizzy for a little bit, and then we want to puke. And that’s literally where most of us business owners are at. And what we do is, is we see that marketing needs help. So we venture out on that particular handrail to work on marketing, and what did we do?
We just created a wobble in the system. And now the opposite side of marketing, by the way, is the legal side. It may have some viability that we need to go back and strengthen up. Everything inside here has a, has a purposeful, uh, dichotomy [00:24:00] that they, anytime you strength the one, it’s gonna create weakness somewhere else.
Mm-hmm. The goal is, is for the owner, hear me loud and clear friends, I, man, this is like the most pivotal point. We often talk about this. We need to work on our business, but we don’t. We’re working in our business. The reality is, is that we had to work in our business before we work on our business. The goal for us is to get out of the merry-go-round.
Mm-hmm. The goal for us is to create the harmony on the company so that we’re not the best salesperson, so that we’re not the best fire putter outer in the company, that we’re not having to lead our team through every micromanagement area. The goal is for us not to do the planning and as soon as we, as the owners can step aside and watch this baby of ours, this business operate fluidly, and watch the kids on the merry-go-round.
Have fun. Now we’re not in risk of injury. Now. We’re not at risk of getting sick in the center of it. Now. We’re not in the risk of hanging on for dear life like so many of us are, depending on where we’re at in our business. So the reason why we don’t create valuable businesses is because [00:25:00] we are stuck on the merry-go-round.
Mm-hmm. We’re stuck in the middle of saying what we have to do is get out. Now how do we do it? That’s where execution, our third pillar comes into play.
Patrick: So I, I want to, I wanna touch on this, ’cause I think what you just highlighted, getting out of the merry-go-round is the difference between growth and scaling.
Jason: Correct.
Patrick: I can grow when I’m on the merry-go-round and I’m like, okay, cool. I’m gonna hop over here to, uh, marketing and do some sales and, you know, drive some revenue and then I’m gonna hop over here and fix this problem. The business can’t scale when it’s tied to the owner having to jump in and fix this stuff.
Right. When I get outside of the merry-go-round and I can. Create the systems and the processes for all eight areas to run efficiently and effectively. And I can be assessing the situation. I can be examining and going, okay, cool, I see we need to make some fine tuning adjustments over there. But as long as it’s not me in the middle of it, making it all go because the the growth thing, it just means I gotta work harder, you know?
And. That kills [00:26:00] me. Uh, so I, I think those are fantastic observations. I’m looking forward to the execution side. ’cause now we’re, we’re seeing Okay. I, I’ve, I’ve examined the, the situation. I know where my, my issues are now. I’m, I’m looking forward to being able to grow the business and reclaim some of my life.
So can you tell us about, about execution?
Jason: Execution is simply doing the work. What’s interesting about us business owners is we’re not afraid of working hard. We’re not. We will, we’ll roll our sleeves up, we’ll get bloody. We will grab the bull by the horns. That’s who we are. But oftentimes, we forsake the difficult work for the hard work.
The difficult work is escaping the merry-go-round. That’s the difficult work. It’s easy to do everything you just talked about, Patrick, to go in and strengthen things up. It creates more velocity. It makes us feel good. We see our revenue numbers go up, but it doesn’t give us freedom. That’s what we’re after is freedom.
That’s why when the business, more than likely we, we thought we could do something better for ourselves than doing it for the man, so to speak. So we want freedom. Really this a [00:27:00] relentless, a relentless execution is about now how do we take what we see? From our analysis, whether it be individually or through the business, how do we take what we see and actually deploy an action or ay a system that allows not us to do the work, but our team to do the work.
That’s the skill. So there are many books out there. I’ve spoken on stage with several of these authors. For example, Gino Wigman. He and I shared the stage not too long ago with the book Traction. It’s a powerful book, great principles I’ve been on, I’ve, I’ve met Burn Harness several times. Great books, great book around Scaling Up.
Seen so many different books out there around how do we create. Actions within our company. What I’ve discovered, especially in the small business community, when I say small business, I’m talking with those of us less than a couple hundred employees, is that if we’re not careful, if we don’t have a structured system that our team can follow, that we have confidence in, nothing’s gonna get done.
We’re gonna get pulled back into the middle of the merry-go-round. Mm-hmm. So we develop through execution is a simple framework. It’s very simple. [00:28:00] You and your team should only be working on three things every 90 days, what we call objectives. Objectives. Only one can be financial in nature. The other two have to be something within the other areas of the business.
So an objective may be, we wanna redo our website, whatever it may be. There’s gonna be only three objectives. Now, for each objective, the objective is what are we going to do by win? What are we gonna do over the next 90 days? The next, for each objective, there are three tactics. How specifically are we going to do what specifically?
By when specifically? That’s the tactics. Mm-hmm. Notice I used the word specifically there three times. Why? Because so many times, whenever we write down what needs to be done, we’re very generic in our language. And then Sally or Tommy or Fred, or I was talking to one of our, one of our other business owners, and he’s like, Hey, look, tfor man, he cannot handle this.
He’s asking questions. I’m like, well, what is Tiffon looking at? They showed me. I’m like, well, I’d be asking the same questions that Tiffon ISS saying because you’re not giving him the details that he needs in order to execute. So whenever [00:29:00] we look at the, the action steps over 90 days, you have three objectives.
What specifically are you gonna do? The three tactics are how specifically are we going to what specifically by when specifically? So those three tactics may be spread out over a period of 30 days or 90 days or 60 days or something. Now, for each tactic, there are gonna be three actions. The action is who specifically is going to do what specifically by when specifically.
So if you follow this math, and I hate doing math on it air ’cause I’m, I was homeschooled and y’all gotta forgive me ’cause I, I can’t count past 10 of my fingers here. Remember I was from Georgia, raised on account farm. It’s, it’s struggles guys. Mm-hmm.
Patrick: But if
Jason: you calculate it right, there are 27. Action items.
If you just simply execute those 27 action items based on the output of your examination, every 90 days you do a reexamination, you execute those next 27 action items. Like James Clear wrote in his book, atomic Habits. You’re moving at a little bit greater than one to 2% [00:30:00] marginal rate per month. Friends, it may not sound like a lot.
You gotta trust me. Look at my bios, everything out there, I’ve done this too many times. You can exponentially scale, I’m gonna use your word Patrick. Scale a company, not grow a company. Scale a company by simply following an execution framework. Here’s where the magic happens. But my team’s already scheduled this.
We’re doing this in January. We’re recording this at in early November. I’m having this meeting in January with my team. I’ve got seven individuals who are gonna run this meeting. They’re gonna come outta this meeting with their 27 action items. It’s not gonna be me. I’m gonna say, I’m gonna say, Hey, here’s what I see from the company.
Y’all figure out what we need to do. They’re now capable. ’cause I’ve been training ’em for years. They’re capable of building out an execution plan. Have you ever noticed, perhaps as a parent, whenever it’s your child’s idea, they’re willing to charge hell with a water pistol to make sure it gets done? Yep.
But whenever you tell ’em to do something like, Hey, go clean your room, they ain’t gonna do it. It’s like molasses rolling up peel in the middle of January. [00:31:00] It ain’t moving. Yeah. The beauty of an execution strategy is, is if you get your team engaged, your whole team engaged. It’s their idea. You’ve done the examination and you relinquish control and you guide.
Now there’s my statement, relinquish control. Okay? I want you outta the middle of the, outta the middle of the merry-go-round. Friends, they’re gonna do about 60 to 70% of what your capabilities are. Great. That’s amazing. Let ’em run it for 90 days. You’ll get more movement in your company over the next 90 days if you let your team design the output than if you go in there like as a benevolent dictator and tell ’em what they’re gonna do.
Friends, that is relentless execution.
Patrick: Yep.
If this conversation’s got you thinking about how to take the next step, whether that’s scaling your business, setting up for an exit. We’re just keeping more of what you earn. It all starts with having the right strategy in place. At vital strategies.com, you can connect directly with our team and [00:32:00] start building your personalized tax and wealth strategy.
We’ll help you uncover opportunities most entrepreneurs miss, and create a plan designed to minimize taxes, maximize cash flow, and set you up for long-term success. Don’t wait until it’s too late to plan. Take the next step today@vitalstrategies.com slash tax.
I, I love this. So let, let’s start off with focus. ’cause one of the things that you highlighted there that I think is undervalued is focus. And, and you said there’s gonna be three objectives. Great. We’re not gonna have seven, we’re not gonna have 12. We’re not gonna have 21. We’re gonna have three. And, and you start looking at the data around the number of company objectives.
I think when it gets above like five Yeah. The, the likelihood of success goes to zero because there’s no focus. We’re too scattered. We got too much crap going on where, you know, the three is key. And then another thing that you highlighted that I figured [00:33:00] out, uh, early on that I was really bad at was the, the specificity.
Like, who’s responsible for what by when? And, uh, I was just bad at that. I would give people a vague statement and then. 12 weeks from now, I would expect to show up and have it all complete. And they’re like, yeah, I’ve got this thing done. I’m like, that’s nothing close to what I wanna have done. And so it was, uh, uh, I figured out pretty quickly, you know, here’s how I want it done, here’s what I want done, and here’s when I want it done by.
Uh, because if I didn’t, uh, we just kept getting poor results over and over again. So I, I think those things are, are, are critical, critical to success. And if you, you don’t have those. It’s going to be a problem. And then the next thing I want to, I wanna highlight is the, the consistent work. You know, being relentless, continuing to follow through that 1% progress.
You know, if, if you want an exceptional life, do very boring things over and over again, consistently, like you will have an [00:34:00] exceptional life in every area. You’ll have an exceptional life in your, if you open up your Bible and read it every day, you’ll have exceptional faith, right? If you. Invest in your marriage, in your children, in your business, in your health.
Like every single day doing the boring stuff day after day, like all of a sudden the compound results of that are people can’t catch up to it. So I think that is, uh, you, you hit some, the focus and the, the relentless execution and just showing up every day are, are critical. Thank you for this May. May I give you a pro
Jason: tip?
May I give you a pro tip, Patrick? Okay? Mm-hmm. Here’s your pro tip. This is one you wanna pull over and write this down. I’m telling you, this is a pro tip. 30 plus years has taught me this every Monday. I don’t care what business you’re in, I don’t care if you’re cleaning, swimming pools, building houses, an attorney, a advisor, I don’t care who you are.
Every Monday morning, you have a 30 minute CEO moment with your entire team. And your job as a CEO is to highlight the movements [00:35:00] that happened the previous week and what needs to be done this week. Mm-hmm. That’s it. That’s it. So what you’re literally doing is you’re taking that 27 action items, we have it calendar to what needs to be done by every week within that nine days, within that 12 week framework, and now you’re in week six.
Okay, friends, last week in week five, this is what should have been done. Here’s what we have to do this week. You leave that on the table and then you walk out. Mm-hmm. And you let your chief operating officer, or your business manager, or whoever, your foreman, whoever it is, say, okay, Justin’s gonna be coming around today.
Here’s how this works. He’s gonna be coming around today and he is gonna ask us a question. How can we get this done this week? You get outta the way. You tell ’em what the mission is for just that week, and you get outta the way. Then you let that simmer. Here’s your pro tip. You let that simmer for a couple of hours, like a good steak on the grid.
Just let it simmer. You can smell it right now, you know that you want to eat it, but you don’t touch it. You let it simmer. Couple hours later, you walk around to your, either your whole team, if you have a small team or your executives or your, your [00:36:00] key change makers, and you ask ’em a simple question. This is the pro tip.
Try it. It is weird at first. It will change your life for the rest of your life. The question is, Patrick, you and I are together. I’m gonna walk to your desk. I’m gonna call you on the phone. I’m gonna meet you on a job site. I’m gonna say, Hey Patrick, you know what we gotta do this week? How may I serve you this week?
How may I serve you this week? What your team is gonna do? First time you asked that, is it gonna look at you like a calf in a new gate and thought you lost your mind? But if you let it go and you teach them this, they’re gonna come. And Patrick gonna say, Hey Justin. I don’t think I’m properly resourced to accomplish that this week.
What on my plate do I need to let go to get this done? Mm-hmm. And you as a true CEO of your business can move your team forward. Friends. That is the prote. I’m telling you, every one of our coaching clients, when they first hear that, they look at me and they scratch your head sideways. Like, Justin, you lost your mind, man.
And then they try it. And after about a month or so, every single one of our hundreds of cloud children, clients will come back around and they’ll say, Hey, good bread. That pro tip, dude, that changed my business. I no. [00:37:00] Nope. It did come up with by myself, friends. Again, I’m a country boy. I had somebody else teach me that, but I was just gullible enough and dumb enough to believe them, and it worked and it worked magnificently for me.
So there’s your pro tip. Try that. Yes. This week. See what happens.
Patrick: I love it. And um, you know, again, you’re, you’re doing a great job of, of making in all this biblical wisdom. We, we saw Jesus say, you know, I came to serve. Right. You know, he was washing the disciples feet and he servant leader. And that’s, that’s.
This is what that is. It’s, well, you haven’t
Jason: figured out yet. My entire framework is based on scripture. I’m not that smart. I’m not that original friends. I just discovered it in the Bible and I decided to do it. It worked brilliantly. So,
Patrick: yeah, that’s what this is. Wonderful. All right. No, I love this. So now we’re executing our, our business is, is growing.
The value is there, we’re, we’re starting to, to see, um, all eight areas that we’re. Examining start to, to flourish and things are, are going well. Now what? Now what do we do?
Jason: So now we get to the fourth pillar in this journey and I, in our [00:38:00] framework, if you visit our website, it’s a bridge and you’re crossing a bridge, and now you reach the fourth pillar that holds the bridge up and that is an exit.
Whenever I say the word exit, many times that that sits wrong with me as a business owner, like I’m letting my baby go, or is this all I am? Well, whenever you start thinking in terms of your business as an asset, that you’re true, genuinely a steward of the business, and that you’re stewarding it for the kingdom, as you mentioned earlier, Patrick, are you stewarding it for your family or for the charities or for your employees?
For a community, but you’re stewarding that there comes a certain point to where that business is gonna be transitioned from you, perhaps the owner to your team, maybe to a family member, maybe to an outside buyer, maybe. Maybe just, maybe it goes into a trust and it’s, and put into an endowment program.
But somehow or another, that business is gonna transition from your hands to an ex. So whenever you think about, okay, my business is now moving in the right direction. I’ve got this J curve and I’m riding this thing like a rocket ship outer space, as soon as you start facing the stratosphere. You [00:39:00] have to start thinking about, how do I get off this ride?
Patrick: Mm-hmm.
Jason: Why you do not want your business to go into maturity or atrophy For far worse, you want your business to be on the, the climb of that J curve. Whenever you’re having this thought around, how do I get off this ride? Because that is going to generate the greatest value for you, the owner. It’s gonna generate the great greatest transferability choices for you to go internal, external, whomever you wanna transition the business for.
And oftentimes it’s gonna happen far before you’re ready. Mm-hmm. Far before you’re personally ready. So whenever we think about exit, it now brings in that five F component, faith, family, friends, fitness, finances, and we’re now saying, wait a second, I built this dynamic business and it can support me. But like my coach taught me, he said, Hey Justin.
If you had unlimited time or limited resources, what would you do tomorrow that you’re not doing today? And I’m like, I don’t have either unlimited time or unlimited resources. He said, yes. But what if you had capital and the remaining time [00:40:00] left? What would you do differently? Like, you know what I would do differently?
I would train my children differently because I still have kids at home. I would do something different with my kids. I would invest in the missions. What we, we work with several mission, mission organizations around the world. I would teach other business owners how to have this unbelievable growth and have a little different fulfillment.
I would get outta the rocket ships. I gotta tell you about guys, whenever you exit your company, you transition, it is the most, it is the most difficult day of your life. Mm-hmm. On my day. My, so I’ve sold seven companies now and my fourth, fifth, and sixth companies were packaged up in a con, in a conglomerate rollup, and I signed the paperwork at 1153 on December 31st, I gotta tell you, after busted my tail for 48 months from a startup to have an eight figure exit reached second millionaire status.
At that particular move I was waiting for the angels, like seeing the hallelujah course. At the moment, I’m signing it, and so I signed this document. It didn’t happen. There was no angels, no pomp and [00:41:00] circumstance, no confetti, guns went off. Instead, my wife was beside being bed snoring, and I looked over her.
I’m like, you don’t, you realize that this was like the most important day of my life within this last five years, and you’re snoring. I went to sleep and as I’m getting ready to go to sleep, the very first question in my head was, what did I just do? Mm-hmm. Did I just mess up? Yep. I just sold my business.
What am I gonna do tomorrow? See the dec millionaire journey? In order to reach Dec Millionaire status, and we’ll talk about why that’s important, but in order to reach Dec Millionaire status, you’re going to have to internalize the fact that this asset that you call your baby, your business is ultimately you’re building it for somebody else.
Patrick: Mm-hmm.
Jason: You’re building it for somebody else so that they can take it far greater than what you’ve ever done. You’re going to have a sense of loss, almost like a child passing away. My wife and I have experienced that. Mm-hmm. You’re almost like a child passing away. It’s, it’s a feeling of loss, like hopeless loss until the next morning when you look at the bank account, it feels a lot better.
Mm-hmm. Yeah. But the idea around [00:42:00] exit is to put that in the framework because we’re not taking our businesses with us. Most of the time our kids don’t want it because they’ve heard mom or dad come home and fuss about the business. They around the dinner table. They don’t want any part of it.
Patrick: Right? Yeah.
Jason: So we’ve gotta put this exit in mind of trying to figure out where is our five F’s and this asset we call a business going to align with our overall purpose, our overall life mission. This overall calling that I mentioned earlier, that’s the idea behind the exit strategy of the pillars.
Patrick: There’s, there’s so much here that I wanna unpack.
So I’ve got a friend of mine that, um, wasn’t aligned with the five F’s. He was growing the business. He sold it for more money than he’ll probably ever spend.
Jason: Yep.
Patrick: And he was literally in the fetal position crying. And his wife was like, what’s wrong? And he was like, wasn’t worth it. Yep. It wasn’t worth not being present for the kids.
It wasn’t worth not being present for you. You know, I was hustling for five years thinking this thing was going to. Provide all sorts of satisfaction. And it wasn’t, it, it didn’t, it, it was [00:43:00] not, it was empty. And, uh, so I, I love what you’re doing there and I’m, I’m gonna tie all these things together. Uh, another thing that you’re, you’re doing with this framework is you’re, you’re taking a lot of risk out of the business.
And, and what I mean by that is it’s not dependent on you. It’s not dependent on a single point of failure. We’ve built a. A system and a process to run this thing and have it run itself. You know, I’m giving my team the resources. You know, like you, you talked about with your, uh, planning meeting in January.
It’s like you’ve given your team the resources to run this thing efficiently and effectively and to, to grow and scale without you being in the middle of it, making it all work. So it, it takes, it takes risk off the table, which I think is, uh, is incredible and also. The reason businesses get more valuable is because they get, they get bigger, there’s more infrastructure, you know, uh, so that, that is, uh, good.
And then getting outside of the middle of that spinning [00:44:00] merry-go-round is less stressful, you know? So it’s like, all right, this is, this is really, really good. Uh, just from my quality of life perspective, uh, because I’m not in the middle of the, the grind. And then I, I think there’s also. Something that’s really, really important.
Even if I’m not interested in selling my business, even, let’s just say the next decade, I should be doing every single one of the things you’re talking about.
Jason: Yeah.
Patrick: Because all it does is creates a business that creates less stress, uh, less risk, creates more cash flow, and it’s like, it’s just a well run business.
A well run business is the most valuable business and it’s the most fun one to own. So I think about all of those pieces and I’m like, man. You can’t just have one of these, uh, these pillars, uh, you can’t just have a vision. You, you gotta execute, you gotta, uh, examine. Then eventually we’re going to exit and we’re gonna be able to maximize our value.
But, uh, I, I think all of these pieces are, [00:45:00] are so important and they work together to hold that bridge up and create this, uh, this solid foundation. So I think this is, uh, this work you’re doing is the Lord’s work. You know, I, I think it is so good to be able to. Help people go from frustration to satisfaction and a peace of mind around their business.
So, so many things here, but, uh, what else should we be talking about? Because I, I think there’s, we could probably go on for days on, on this topic. Oh yeah. But, uh,
Jason: yeah. So we’ve talked about relentless, we, relentless foundation, that’s where everything rests. If you picture your mind a bridge, every one of these points is a pillar on a bridge, a peer on the bridge.
The foundation is what holds up everything. Your vision, your mission, your values, your values are paramount. It holds everything together. You’re not gonna exit if you don’t know your values. When you get time to exit your values outta a misalignment, you’re gonna be in the fetal position, or you’re gonna end up blowing all the money.
I’ve seen it happen, friends. I’ve seen it happen over and over again, but ultimately, what we all went into business for is freedom. Now you may use that word freedom differently than I do. [00:46:00] Scripture says in the sun, says Free is free indeed. So there’s ultimate freedom, I believe, in Jesus, but outside of that many business owners were looking for freedom of time, freedom of pocketbook, freedom of influence, and unfortunately, even if you build a business that can work without you, and you’re not in the merry-go-round, you’re just looking at your dashboard, looking at what we call critical success factors.
You’re tracking critical, or KPIs and key performance indicators, things of that nature. Ultimately, you’re not gonna have true mental freedom as a business owner, as a business owner, until you have positioned your life where you’re not dependent upon the business. Mm-hmm. Period. Why? Because we’re uniquely and wonderfully made.
We’re unique animals. As a business owner, we will charge hell with a water pistol. We are weird. I get it.
Patrick: Yeah. Yeah.
Jason: But you’re not gonna ultimately have freedom, the fifth pillar, until that business is no longer in your head. I was talking on a very popular podcast. They were interviewing me. They said, well, Justin, I have freedom now.
I get this money in the bank account [00:47:00] every single day and I don’t have to think about my business. And I said, well, what happens if the economy changes? He said, well, well, I gotta go back in my business then. You’re not free. Or, what happens if, and there’s all these if scenarios. What happens if the the platform you’re utilizing changes their systems or the government changes A regulation?
Ultimate freedom comes whenever you have positioned your life. To maintain the level of lifestyle that you desire without any outside influences. That’s freedom. And that’s what we’re shooting for. That’s that fifth pillar. So I mentioned that the, the strategy is called The Decade Millionaire Way. Here’s why that name matters so much.
You just heard Relentless foundation, relentless examination, relentless execution, relentless exit, and now relentless freedom. You see as a, as a business owner right now, no doubt, you maybe have hit the average that most of us shoot for, and that’s 2200 $50,000 of take home pay per month. In the small business world, maybe you’ve already hit that number.
If you have, more than likely you as a service industry, you also probably have another a hundred to $150,000 of [00:48:00] benefit cooked into the business. Maybe you’re paying your kids, maybe you’re doing section 2 88 G of the Internal Revenue Code where you’re renting your house from your business. Maybe you at this point, are paying for your continuing education as you’re taking trips around the world, whatever it may be, when you, what’s called normalize your business, you more than likely are benefiting far greater than what you’re taking home.
So let’s just say per adventure that you are taking, that you are living a $400,000 lifestyle after taxes. That means you probably need about $500,000 pre-tax in order to maintain your level of lifestyle. Now, most of us don’t think this way. We look at, we’re used to looking at our paycheck coming in our bank account of 10,000 or 15,000 a month or whatever your number is, or 20,000 a month.
But when we sit back and look at it, we’re doing pretty doggone good. We’re living high on the hog, as we’d say in the south. We’re eating some man. We’re eating some good bittles. In order for you to maintain that lifestyle. If you had $10 million after tax, after broker fees, after commissions, after everything earning [00:49:00] 5% a year, you can maintain your lifestyle.
So for most of us in the service industry, for most of us as business owners, we have no choice but to reach deca millionaire status. You have no choice unless you’re thinking in terms of longevity of me. I want ultimate freedom. I wanna have a bank account, perhaps we’re talking about money. I want a bank account that will provide my income that I’m used to.
Then friends, you’re looking at 10 grand or $10 million plus in assets.
Patrick: Mm-hmm.
Jason: That’s why the quote decka Millionaire Way is so vital. Here’s the sad part, here’s the statistics. We want freedom. We want freedom of pocketbook. We, we look at it and we say, well, we’re not gonna give our freedom of time until we get freedom of pocketbook.
It just doesn’t happen. That’s not the way we’re wired. So if you want freedom of pocketbook, you’ve gotta, you’ve gotta look at your business, know what its appraised value is, and follow a framework that’s gonna get you to an appraised value. After broker fees, after taxes, after all the legal fees, after everything involved, that’s gonna put you enough assets in the bank to provide you the lifestyle that you’re used to.[00:50:00]
Mm-hmm. Without a framework, you’re not gonna reach. Statistically as I’m one of the, one of the, uh, lectures at the Exit Planning Institute. I’m on the board there at the Exit Planning Institute and we teach, we teach advisors all over the country how to help business owners scale their companies.
Statistically, statistically, hear me on this, friends, if you were to sell your company, and you’re right there, only 18 to 20% of the population who actually sell their company.
Patrick: Mm-hmm.
Jason: If you were to sell your company, those of you who will sell your company, only 4% will be satisfied. 96% of the business owners who sell their company had deep regret.
Why we never took a full picture of here’s our company, here’s how it can be profitable, here’s how it can be scalable, here’s how we can obtain freedom. And when we walk away, we’re in a position to where we have lived the life, or we have reached an income level without us having to change our lifestyle.
That’s why. That is why. [00:51:00] Relentless freedom matters so much. Mm-hmm. If you don’t start on the foundation rights, you’re never gonna have relentless freedom. If you don’t execute rights, you’re never gonna have relentless freedom if you don’t prepare for your exit long before you ever need to. And by the way, five to 10 years before you want to exit.
So we need to start preparing. If you’re not preparing for that, you’re not gonna have relentless freedom. Now, you may be in that four percentile. You may be, God bless you if you are, but statistically, you’re less than 2% reaching your success rate. Yeah. That’s why this matters.
Patrick: This is, this is so good. And you know, one of the things that we love talking about is the tax side of the equation.
You know, when you’re making healthy income, you know, we’re saving our average client $280,000 of income tax. Many clients over a million dollars a year and money. They’re not sending to the IRS right now. We’ve got a client exiting, uh, they’re gonna. 33 and some change million from a, a minority sale of their, their business.
And they’re gonna pay zero capital gains tax on that ’cause of the planning that we’re doing. And so, um, I, I [00:52:00] think all of these things are, are absolutely, uh, critical when you, you start thinking about you gotta lay that foundation and there’s not one piece you can, you can skip. And so, uh, Justin, I think this is, this, this is incredible work.
Uh, I think there’s a few things that people should, should do. First, they should go to Justin Good bread.com. Uh, we’ll have links to that in the show notes. Schedule a meeting, uh, if you’ve got a business and you’re interested in, uh, maximizing the value of your business and doing all the things that Justin laid out.
Um, even if you’re not interested in selling anytime soon, we just heard five to 10 years, and, and that’s absolutely true on. The time it takes to sort of position your business and make sure that you’re all ready to maximize the value. I think that’s great. And then Justin, I know you’ve also created a free download for people to, to check out, and we’ll have a link to that in the show notes as well.
But it’s the 10 dec deca millionaire questions that every business owner should be asking, but isn’t, and I could be [00:53:00] screwing that title up, but that’s the general direction on that. And yeah, I, I think that’s a, a something that people should download as well, just to. Get more of this, this good work that, uh, that you’re doing.
Is there anything else people should be doing to check out what you’re doing with Relentless coaching and, uh, impacting the value of their business?
Jason: Yeah. Thank you for that. Um. So 10 questions every, every business owner should be able to answer, but most can’t. That’s a, that’s a powerful piece. And it comes from literally thousands of business owners.
I’ve consulted that I’ve watched ’em double or triple the value of their company. And most people can’t answer this and it’s sad. Mm-hmm. And if you can’t answer ’em properly, friends, you’re not gonna reach that a millionaire status. Let’s just lay that out there. Um, in terms of other connecting, you know, if you wanna see a life of freedom.
Life of freedom. Somebody who has been blessed beyond measure. I’d love for you to follow me on Instagram. I live my life, uh, openly there. Last week I was killing elk in the ri rocky Mountains. Next week I’m gonna be in West Virginia. Bow honey, and you’re gonna see my life. But you’re gonna see it as a business owner.
We have a lot of business principles there. It’s a fun place. And then we have a [00:54:00] podcast as well called The Deca Millionaire. Deca Millionaire Decoded. We have over 600 episodes there teaching you how to decode this journey that all of us are on. Patrick, man, thanks for having me on the show today. This has been fun.
Patrick: Yeah, this is, this is incredible. And, you know, we, we have so many business owners that are doing a great job, like running their business, but, uh, really I think about all these pieces we’re, we’re helping on the finance side, you know, helping ’em pay less tax, helping get cash flow and all those other pieces dialed in.
But just from a, a holistic point of view on running a healthy, successful business, this is, uh. This is great. So Justin, thank you so much. Thank you for all the work you’re doing. I appreciate you coming on the show today and, uh, being an excellent, excellent guest. This is wonderful.
Jason: Thank you so much, sir.
Patrick: Thanks so much for tuning into today’s episode of the Vital Wealth Strategies Podcast. I hope you found real value in this conversation with Justin Goodrich. And you’ve got something that you can take and apply to your business starting today. If you did, do me a favor, share this episode with another entrepreneur who needs to hear it.
Whether they’re trying to [00:55:00] scale, exit, or find more freedom in their business, this could be exactly what they need to move forward. And if you haven’t yet, take a minute to leave a quick review wherever you’re listening. It helps more business owners like you discover the show and join this incredible community of vital entrepreneurs.
Before you go, don’t forget to visit vital strategies.com/tax. That’s vital strategies.com/tax. Start building your personalized tax and wealth strategy. It’s the first step towards keeping more of what you earn and creating lasting financial freedom. And remember, you’re a vital entrepreneur. You’re vital ’cause you’re the backbone of our economy.
Creating opportunities, driving growth, and making an impact. You’re vital to your family, creating abundance in every aspect of life, and you’re vital to me because you’re committed to growing your wealth, leading with purpose, and building something truly great. Thank you for being a part of this incredible community of vital entrepreneurs.
I appreciate you and I look forward to having you back here next time on the Vital Wealth Strategies Podcast, where we help entrepreneurs minimize their taxes, master wealth, and optimize their [00:56:00] lives.