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As a financial advisor, you’re well aware of the high stress and long hours that come with running an independent RIA firm. Each of these pain points can make it difficult to grow your business and focus on serving your clients. Chances are, you’re spending a significant amount of time monitoring your firm’s financials while […]
Why You Need CFO Services in Your Independent RIA Firm Read More »
Are you tired of feeling broke as a financial advisor? Now, when you hear the term, “broke,” your mind probably immediately goes to the financial meaning. However, there are many forms of brokenness that you could experience as the owner of an RIA. From financial brokenness to being psychologically or spiritually broke, I believe this
Are You Tired of Feeling Broke As a Financial Advisor? Read More »
As firm owners in the financial services industry, success requires more than just being knowledgeable. It also requires the ability to build and manage a thriving business. Yet, so many advisors across the industry fail to truly grasp what that means. That’s why I’m using the next few blog entries to speak directly to independent
Independent Financial Advisors: Unlocking Success as Firm Owners Read More »
As a business owner, you’re a rock star. You are a master of your trade, and provide your clients with the best experience they can have. But what about all those other areas of business? Are you the best HR director? Are you a master of developing systems and processes to maximize operational efficiency? Chances
For Your Business’s Sake, Let Your Office Manager Manage YOU! Read More »
After selling my companies in the spring of 2022, Emilly and I have encountered many changes. As a business owner, selling your business is one of the biggest moments of your life. But it’s also a significant change for your spouse. If you’ve never gone through the process, you might think that closing the deal
If you’re a business owner looking to sell your business, you may be wondering, “Should I use a broker to sell my business?” After all, why pay a commission when you can just find a buyer yourself? While it’s true that you could sell your business on your own, there are several good reasons to
Pros and Cons of Using a Broker to Sell a Business Read More »
Given the volatility and unpredictable nature of the stock markets, you might be wondering, “Is now the perfect time to open a new office?” The truth is, opening a new office can be an exciting and daunting task for any business owner, especially those in the dental industry. However, it can also offer a wealth
As an Established Dentist, Should You Open a New Office Location? Read More »
In my last entry, I fielded a question from a reader about buying another dental practice in order to leverage growth. In this entry, I want to expand on that idea. So, we’ve dealt with the acquisition side but now, I want to look at the same question through the lens of a merger. What
Merging a Dental Practice: Pros, Cons, & DSOs Read More »
Aaron Freeman / Money Talks News Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend. You probably remember the Bernie Madoff saga: His famous Ponzi scheme destroyed the life savings of hundreds of investors and completely
How to Spot a Ponzi Scheme: What We Can Learn from Bernie Madoff Read More »
Recently, I spoke about using targeted reinvestment to grow your practice. While specifically addressing dental entrepreneurs, the principles I covered could be used for any business. I’d like to continue down that path to answer a question I received from one of our listeners. The question is this, “What are the pros and cons of
Buying a Dental Practice to Grow Yours: Pros and Cons Read More »
Money Talks News / Money Talks News According to the latest report from Vanguard, looking at the average amount of money saved for retirement, there’s a good chance you might not be on track for comfort in your golden years. The average 45-year-old has less than $180,000 saved for retirement. But how do you change
How to Retire at Any Age Using Your Retirement Number Read More »
Selling a business is a difficult proposition. For those of us who have been fortunate enough to successfully sell a business, it may be tempting to use the proceeds from the sale to seed your next venture. But is it really the right time? Before you can know this, you must evaluate the true cost
Selling a Business to Start Another: Is the Time Right? Read More »
Expectations are an important part of business. A CEO sets expectations for growth over time. Your sales department outlines product and service expectations for potential clients. But can expectations be harmful to your business? Inherently working to exceed expectations isn’t necessarily a bad thing. However, if you’re setting expectations too high and consistently underperforming, that
Is Trying to Exceed Expectations Dangerous to Your Business? Read More »
As a business owner, you’ve likely heard about creating company core values at least once. In fact, you’ve probably got a list of a few core values tucked away somewhere. But operating a values-based organization requires more than writing a few inspirational words and inserting them into your company handbook. In this entry, I’m discussing
4 Ways to Communicate Your Company’s Core Values with Your Customers Read More »
As business owners, we have many unique skills and talents. But did you know you also have the ability to tell the future? Okay, so, you’re not likely to predict the next winning lottery numbers. However, you can predict (or project) your company’s financials over the next few years with pro forma. You see, knowing
Telling the Future – The Power of the Pro Forma in Small Business Read More »
Have you ever wondered why some leaders are more effective than others? The extreme ownership principles taught by Jocko Willink and Leif Babin, both in their book and consulting firm, shine a light on the necessary traits of effective leaders. But how do you take battle-tested (literally) leadership principles and apply them to your business
3 Ways to Quickly Implement Extreme Ownership in Your Team Read More »
I often hear business owners referring to succession planning and exit planning as though they’re interchangeable terms. While similar, the differences between a sale, a succession, and an exit are significant. Each one has a different end goal in mind. Understanding the differences and how they work together is critical. That’s why today’s entry is
Succession Planning vs. Exit Planning: The Difference is Critical Read More »
Aaron Freeman / Money Talks News We’ve all heard the dismal statistics. Most people who set New Year’s resolutions abandon them by February. What gives? Why is it so hard to follow through on our goals? And most important: What can we do to succeed? Let’s find out. In this week’s podcast, host Stacy Johnson
5 Powerful Mental Tips to Accomplish Your Goals Read More »
As a business owner, it can be tempting to work with anyone who can fog a mirror. While this may be a necessary tactic in the early stages of your business, it may not be the best long-term strategy for maximum growth and efficiency. Not all clients are created equal and, at some point, you’ll
3 Ways to Determine Your Ideal Client and Use the Results Read More »
Business owners have to be adaptable. As much as we like to plan and strategize to reach our goals, sometimes things occur outside of our control, making it necessary to change course. It’s as much a part of business as it is life. So, when it’s time to change direction, how do you develop a
How to Build a Pivot Strategy for Your Business Read More »