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Financially Simple

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Location:

United States

Language:

English

Contact:

865-690-1155


Episodes

Ep. 074: An Overview of the Eight Key Areas of Business & the Personalities of Each

7/19/2018
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In episode 74 of Financially Simple, Justin gives an overview of the eight key areas of business and the respective personality types of each. When it comes to running a business there are eight identifiable areas of expertise, and with that comes different skillsets and suitable personality types for each area. Justin goes over the eight key areas and looks at the qualities and desirable personality traits of the people that work in each sector. TIME INDEX: 00:53 - An Overview of the...

Duration:00:20:08

Ep. 073: The Key Language to Understand in Value Growth

7/16/2018
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In episode 73 of Financially Simple, Justin looks at the key concepts of Value Growth. There are various terms used in business that might be unfamiliar or confusing, and knowing the correct definitions of such terms is important for many reasons - not least, knowing the valuation of your business. TIME INDEX: 00:27 - The Key Language to Understand in Value Growth 02:29 - The Terminology 03:46 - What is Cashflow? 05:51 - Normalising Cashflow 07:44 - Free Cashflow Calculation 09:34 -...

Duration:00:23:45

Ep. 072: Understanding Time Value Money and why it is the Key to High Value Companies

7/12/2018
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In episode 72 of Financially Simple, Justin takes a look at Time Value Money and why it’s an important concept to understand as a business owner. The value of money changes from one moment to the next, as it is affected by many various factors. Justin explains what Time Value Money is, what influences it, why it’s important, and how it can be used. TIME INDEX: 00:33 - Understanding Time Value Money and why it is the key to high value companies 02:41 - What is Time Value Money? 04:16 -...

Duration:00:20:10

Ep. 071: The Principles of Valuation

7/9/2018
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In episode 71 of Financially Simple, Justin takes look at the different types of Business Valuation. The value of something is tricky to determine, as there are so many variables both subjective and objective. Justin goes over the three main types of valuation, and their respective sub-types, and weighs in on which is best for working out the value of your business. TIME INDEX: 00:33 - The Principles of Valuation 01:13 - Is intrinsic value really the most important item? 01:54 -...

Duration:00:20:56

Ep. 070: What exactly is “Value”?

7/5/2018
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In episode 70 of Financially Simple, Justin goes over the various types of Valuation methods for a business. Understanding the different types of Value your business has is important when it comes to building and selling the business - some valuations will be more favourable than others. Justin gives an overview of the meaning of Value and the various ways a business might be valued. TIME INDEX: 00:30 - What exactly is “Value”? 01:31 - Understanding Value 05:04 - Types of Value 05:48...

Duration:00:24:34

Ep. 069: Should a Business Owner focus on Profits, Growth or Value?

7/2/2018
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In episode 69 of Financially Simple, Justin answers a listener’s question on what to focus on as a business owner. Having a goal for your business means having a primary focus for that objective, but what that objective is will affect how or even whether you reach your goal. Justin looks at why focusing on the value of your business is the best way to ensure reaching your goal while still achieving growth and better profits. TIME INDEX: 00:42 - Should a Business Owner focus on Profits,...

Duration:00:17:58

Ep. 068: 6 Principles which make a Business more valuable to the Potential Buyer

6/28/2018
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In episode 68 of Financially Simple, Justin goes over the principles that will determine the value of your business to potential buyers. When starting and even running a business, it’s important to keep the end goal in sight - selling the business for maximum value. Justin looks at the six principles that will affect how valuable your business is and ultimately what they are willing to pay you for it. TIME INDEX: 00:34 - 6 Principles which make a Business more valuable to the Potential...

Duration:00:26:06

Ep. 067: Understanding the Cost of Capital and Risk Relationship

6/25/2018
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In episode 67 of Financially Simple, Justin takes a look at the relationship between the cost of capital and risk. There are various knock-on effects from investing in your own business, that might have unforeseen costs and affect the value of your business. Justin goes over the ins and outs of the cost of capital and risk, and how it varies for large vs small and public vs private businesses. TIME INDEX: 00:33 - Understanding the Cost of Capital and Risk relationship 03:36 - What is...

Duration:00:23:38

Ep. 066: Value and Profitability are Two Separate Things

6/21/2018
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In episode 66 of Financially Simple, Justin examines how the value and profitability of a business are separate. A business can be profitable in the market, but when it comes to selling that business it can turn out to be worth less that what the owner expected. Justin compares a businesses value to its profitability, and considers the various factors that influence each of these aspects. TIME INDEX: 00:33 - Value and Profitability are two separate things 03:38 - U.S. Market...

Duration:00:23:16

Ep. 065: You Have Lost Objectivity in Your Business

6/18/2018
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In episode 65 of Financially Simple, Justin looks at maintaining objectivity in your business to maintain its growth. A lack of objectivity can lead to complacency, and that can lead to stagnation and limited growth. Justin considers what maintaining objectivity means as a business owner, why it’s important, and how as a business owner you can keep being objective about your business. TIME INDEX: 00:34 - You have lost Objectivity in your Business 03:57 - Defining “Objectivity” 05:40 -...

Duration:00:21:55

Ep. 064: Growing the Value of Your Business

6/14/2018
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In episode 64 of Financially Simple, Justin talks about what’s coming up in the next series of episodes of the Financially Simple podcast. Once you’ve started, the focus on your business will be on growth. Justin briefly considers some of the business professionals he has had experience with on his own business journey, and compares the goal of growth for profit vs. growth for value. TIME INDEX: 00:37 - Growing the Value of Your Business 01:15 - The Business “Professionals” 01:40 -...

Duration:00:11:40

Ep. 063: Learning is Multiplicative

6/11/2018
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In episode 63 of Financially Simple, Justin gives a short talk about continued learning and keeping your mind sharp. Running a business can be tiresome, and if you’re not keeping up with the competition you might see your business starting to fail after putting so much into it. Justin talks about the benefits of continuing learning, and the beneficial multiplicative effect gained knowledge can have for you and your business. TIME INDEX: 00:32 - Learning is Multiplicative 01:28 -...

Duration:00:12:15

Ep. 062: Home Mortgages, with Dan Hall of Elite Mortgage Services

6/7/2018
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In episode 62 of Financially Simple, Justin talks to Dan Hall of Elite Service Mortgage. Your home can be your greatest asset, so having it properly financed will benefit your financial situation as well as your businesses. Justin and Dan talk about getting a mortgage for your home, the different types, and what to look out for when sourcing a mortgage provider. TIME INDEX: 00:32 - Home Mortgages, with Dan Hall of Elite Mortgage Services 05:16 - Getting a Mortgage on your Home 06:50 -...

Duration:00:33:44

Ep. 061: Merchant Services & How Business Owners can evaluate their provider, with Harold Freedman

6/4/2018
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In episode 61 of Financially Simple, Justin talks to Harold Freedman of Merchant Services and Consultants LLC about bank card transactions and fees for business owners. Running a small business means having a merchant account with a service provider, and along with that the often overlooked pitfalls of such services. Justin and Harold go over some of the common misconceptions and mistakes business owners have about Merchant Services, and how to avoid those mistakes. TIME INDEX: 00:32 -...

Duration:00:29:50

Ep. 060: Digital Marketing for Small Businesses, with Gavin Baker

5/31/2018
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In episode 60 of Financially Simple, Justin talks to Gavin Baker of Baker Labs about digital marketing for small business. The world of marketing can be a confusing and complicated space, online digital marketing even more so. Justin and Gavin over the various types of digital marketing strategies small businesses can utilise to improve their prospects. TIME INDEX: 00:31 - Gavin Baker - Digital Marketing for Small Businesses 03:58 - What is Online Marketing? 09:20 - Search Engine...

Duration:00:35:58

Ep. 059: Tax Planning with Chris Mahan

5/28/2018
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In episode 59 of Financially Simple, Justin talks with Chris Mahan, a MBA and tax planner from Mahan & Associates. Having a diverse team will help your business, and when it comes to tax their knowledge and ideas will save your small business money. Justin and Chris discuss cooperative work between team players, working with tax, and the new changes to the Tax Code. TIME INDEX: 00:39 - Tax Planning with Chris Mahan 02:07 - MBA and a Tax Planner? 03:40 - Not only about Tax, it’s also...

Duration:00:30:43

Ep. 058: How to improve Sales in Your Business

5/24/2018
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In episode 58 of Financially Simple, Justin looks at ways to improve sales in a small business. Know your product and or service, and know your customer. Justin looks at how you as a small business owner can increase your businesses sales performance by being an expert in the field, identifying the needs to your ideal customer, and more. TIME INDEX: 00:30 - How to improve Sales in Your Business 00:51 - A lesson from Coca-Cola 05:26 - The Two Facets of Sales 06:40 - Become an expert...

Duration:00:29:27

Ep. 057: Quality Control of Your Product or Service

5/21/2018
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In episode 57 of Financially Simple, Justin considers the steps a business owner must put in place for quality control procedures. A business won’t last if its products or services are not up to scratch. Justin goes over what constitutes quality control, how to attain it, and how to maintain it. TIME INDEX: 00:30 - Quality Control of Your Product or Service 00:39 - These boots are made for life 04:09 - What is Quality Control? 06:35 - Identifying the “Sight Lines” 07:09 -...

Duration:00:22:39

Ep. 056: Time Management for the Small Business Owner

5/17/2018
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In episode 56 of Financially Simple, Justin looks at effectively managing your time as a business owner. Time is money, and when it comes to running an efficient and productive business nothing could be further from the truth. Justin talks about making the most of your time available, taking time for yourself, and avoiding distractions. TIME INDEX: 00:30 - Time Management for the Small Business owner 02:25 - There are 24 hours in a day 04:45 - Take time for Yourself 07:34 - Why you...

Duration:00:25:43

Ep. 055: Advertising or Marketing - which is better for a Start up?

5/14/2018
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In episode 55 of Financially Simple, Justin goes over two fundamentals of Business - Marketing and Advertising. If you’re selling a product or service, you need to make sure people know about it so that they can become your customers. Justin looks at the basics of Marketing and Advertising for a small business, and the various considerations, strategies and costs involved. TIME INDEX: 00:32 - Advertising or Marketing - which is better for a Start up? 03:13 - The difference between...

Duration:00:30:09