Financially Simple

In episode 255 of Financially Simple, Justin is joined by Brandon Jordan to about downtime planning. With many businesses on hold at the moment leaving business owners with time on their hands, it is important to not sit idle and let this opportunity to plan and strategize go to waste. Justin and Brandon discuss the type of tactical thinking small business owners should adopt at this time, in order to have their business in a better position when the Coronavirus passes. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:34 - Ask Justin featuring Brandon Jordan: Getting Business Back to Normal 03:04 - What is a Turnaround vs. a Start-Up? 04:23 - Demand 06:41 - What to Do in This Downtime 08:10 - Where Will Your Business Be in 5 Years? 09:42 - The Eisenhower Matrix 13:24 - Highest and Best Use 17:03 - Strategic Planning 21:14 - Those Who Plan Will Succeed 22:53 - One Piece of Advice 23:42 - Wrap Up _________________   RESOURC

In episode 254 of Financially Simple, Justin discusses Turnaround Strategies with David Kent. As the Coronavirus continues to affect our daily lives, it's important to keep in mind that it will pass, and when it does business owners must be prepared and in a position to get going as soon as possible. Justin and David talk about having a Turnaround Strategy, the stages of the process, and steps that a business owner can take. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:55 - Ask Justin featuring David Kent: Turnaround Strategies 04:09 - Coronavirus Stats 05:53 - Turnaround Management 07:16 - 5 Stages of Turnaround 08:50 - Current Preparedness 10:16 - 4 Strategies 13:14 - Service Profitability 14:48 - Repositioning 15:56 - Replacement 16:54 - Posturing Change 18:39 - Renewal 20:08 - 6 Steps 23:08 - Summary 24:11 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube

In episode 253 of Financially Simple, Justin and Andy Huddleston discuss insurance coverage concerns during the COVID-19 crisis. The global Coronavirus pandemic is unprecedented, and as such has taken businesses and business insurers by surprise. Justin and Andy look at the struggles of business owners and of business insurers, and discuss making claims during this period. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:49 - Ask Justin featuring Andy Huddleston: Loss of Income Insurance Policies 05:05 - Struggles and Concerns of Business Owners 05:59 - What Constitutes 'Loss of Income?' 08:41 - Who Might be Eligible? 11:19 - Natural Disasters 12:58 - Do You Have a Claim? 14:59 - Claiming Risks 16:17 - Potential Harm to Insurers 19:38 - Current Trends 22:00 - One Tip 22:55 - One Pearl of Wisdom 25:53 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to

In episode 252 of Financially Simple, Justin talks to Chris Steward CFA about market trends during the COVID-19 pandemic. The Stock Markets are incredibly volatile at the moment, with developments regarding the Coronavirus crisis changing every day. Justin and Chris compare the current market crash to the 2008/09 crash, and discuss leading indicators that might give a clue as to when and how the market might move in the future. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:33 - Ask Justin featuring Chris Steward: Market Volatility 02:08 - What is a CFA? 05:46 - Is This Market Crash Comparable to 2008/09? 07:55 - Can it Get Worse? 08:35 - Leading Indicators 12:30 - Bear and Bull Markets 14:27 - Reduction to the Ridiculous 17:40 - Time to Buy? 20:50 - One Pearl of Wisdom 23:11 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple

In episode 251 of Financially Simple, Justin talks to Andy Brasfield of the Knoxville chapter of BNI about networking during the COVID-19 pandemic. Due to the ongoing pandemic, and lock-down regulations, many businesses are having to temporarily close their doors or adjust their business strategy. Justin and Andy discuss the importance of networking and establishing connections, in order to be able to get through these trying times. Watch on YouTube: https://youtu.be/wonq_5yXDDE Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________ TIME INDEX: 01:45 - Ask Justin featuring Andy Brasfield: Networking and Making Connections 03:54 - BNI Knoxville 04:52 - What is Networking? 05:36 - Prospecting & Networking 07:11 - Who? 09:39 - How? 12:35 - When? 15:03 - Connecting 18:09 - Expanding Your Network 22:36 - One Pearl of Wisdom 25:26 - Wrap Up _________________ RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscri

In episode 250 of Financially Simple, Justin makes an appearance on The Dental Guys' podcast with Chris Mahan to discuss recent changes made to the CARES Act. As the COVID-19 pandemic continues, the situation regarding aid for businesses and business owners is adapting to this unprecedented scenario. Justin, John, and the Dental Guys discuss the changes to the CARES Act, and how to apply for loans. This podcast is also available on their YouTube channel: https://youtu.be/WxDwW1uvrus Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________ TIME INDEX: 01:39 - Update on CARES Act 7a and 7b-What Do We Know and What Should We Do Now? 03:57 - The Economic Injury Disaster Loan (EIDL) 06:24 - What if a Business Owner has Applied for PPE but not EIDL? 07:33 - What Does it Cover? 09:02 - Should You be Applying Now? 10:21 - Understanding the PPE 18:59 - Understanding Recommendation and the Forgiveness Period 23:18 - What to do if You Have Already Applie

In episode 248 of Financially Simple, Justin talks to Scott Cagle of Northstar Church in Knoxville, about keeping perspective in a time of crisis. The Coronavirus pandemic has upended businesses and personal lives, as we live through this unprecedented event. Justin and Scott discuss keeping a level head and maintaining a perspective of the bigger picture during this period, knowing that it will pass. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 00:56 - Ask Justin featuring Scott Cagle: Perspective Amidst Crisis 04:40 - Communicating Perspective to Your Team 10:59 - Having One Thing to Look Towards to Give Perspective 13:59 - One Piece of Advice 18:38 - One Question to Ask 21:20 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling

In episode 247 of Financially Simple, Justin talks to Gavin Baker of Baker Labs, about best practices for marketing while business takes a downturn during the COVID-19 pandemic. As the COVID-19 crisis takes its toll on small businesses, it's important to keep positive and maintain a presence in your sphere of business. Justin and Gavin look at scaling back on your marketing budget while keeping engagement with present clients and making connections to potential new clients for when the pandemic is over. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:26 - Ask Justin featuring Gavin Baker: Small Business Marketing During the COVID-19 Pandemic 03:35 - Should You Stop Marketing? 04:32 - Maintaining Momentum 07:21 - The Bare Minimum 10:27 - Jump-Starting a Stalled Marketing Plan 14:32 - Targeting Top Clients 20:18 - Case Example 25:28 - Communication Coaching Tips 29:55 - Marketing Tips & Tricks Going Forward 33:54 - Sum

In episode 246 of Financially Simple, Justin talks to Allen Brown of the South Carolina Small Business Development Center about the special conditions of SBA Loans made available during the COVID-19 pandemic. Difficult times require exceptional measures, and the Small Business Association is taking those measures to help Small Business Owners during this time. Justin and Allen go over the guidelines, qualifications and terms of the SBA disaster loans that are being made available to Small Business Owners. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:51 - Ask Justin featuring Allen Brown: SBA Disaster Loans for Small Business Owners 03:51 - What is the SBA? 04:24 - What Small Business Owners can Expect 05:25 - Qualifications for Lending 07:01 - Is the SBA Underwriting the Loans? 08:59 - Who is Eligible? 09:22 - Solopreneurs 11:16 - When is This Available? 11:57 - How to Calculate Your Losses 14:41 - Where to Apply 15:3

In episode 245 of Financially Simple, Justin is joined by The Dental Guys, Jon and Wesley, to talk about closing down a dental business while taking care of their teams. The current COVID-19 crisis is forcing the hand of many businesses, both small and large, to close and lay off staff or, where possible, pivot into other areas. Justin, Jon, and Wesley discuss how the pandemic has affected their dental practices, and how they have managed the closures and supported their teams. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:08 - Ask Justin featuring The Dental Guys: Handling the COVID-19 Crisis 03:11 - Decisions Made Due to the Virus 09:27 - Telling the Team 12:30 - Closing Down: The Thinker Approach 18:06 - The Feeler Approach 22:32 - Starting Back Up 29:35 - Retaining Laid-Off Team Members 36:35 - Jon's One Piece of Advice 41:47 - Wesley's Advice 45:47 - Wrap Up _________________   RESOURCES: Financially Simple Educat

In episode 244 of Financially Simple, Justin discusses using Credit to finance a Small Business through the current pandemic with Gerri Detweiler at Nav. Many businesses are experiencing financial challenges at the moment and may need to take on debt to make sure they can get through the crisis. Justin and Gerri look at choosing credit cards, using debit cards, and the financial assistance that's available to Small Business Owners during these times. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:15 - Ask Justin featuring Gerri Detweiler: Managing Debt and Credit When Financing a Business 02:57 - What is Nav? 03:53 - Which Credit Card to Use as a Business Owner 05:44 - Credit Card Rewards 07:59 - Using a Bank vs. Brand Card 10:03 - Using a Business Debit Card 11:18 - At What Point Can the Business Handle the Debt? 12:50 - Credit Scores 13:33 - Level Up Requirements 14:53 - Advice to Business Owners 17:17 - Credit Instit

In episode 243 of Financially Simple, Justin talks to Kathryn Cimera of Mallor Grodner Attorneys about the Families First Act. The recently passed Families First Coronavirus Response Act is aimed to assist Business Owners and their employees through the current pandemic. Justin and Kathryn break down the act to its fundamentals to help Business Owners understand it better. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:06 - Ask Justin featuring Kathryn Cimera: The Families First Coronavirus Response Act 03:06 - Breaking Down The Act 04:54 - How Does the Act Help Cover Your Team? 06:58 - Interpreting the Jargon 10:51 - Exemptions 12:49 - Penalties 13:47 - One Piece of Direct Advice 16:04 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Simple Newsletter Ask Justin a Question NEW Book: The Ultimate Sale - A Financially Simple Guide t

In episode 242 of Financially Simple, Justin and John Riley of Dental Revolution discuss marketing strategies Small Business Owners, specifically dental practices can take to weather the COVID-19 pandemic. The COVID-19 outbreak is affecting normal day-to-day life, and businesses both big and small, as measures are taken to reduce it's spread. Justin and John look at ways to maintain a marketing presence throughout this time in order to be in a position to recover quickly when things get better. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 02:31 - Ask Justin featuring John Riley: How to Weather the Storm With the Right Marketing Strategy 04:43 - Why Does Marketing Have Such a Bad Rap With Business Owners? 06:10 - Simply Put, What is a Marketing Plan? 09:08 - The Four Quadrants 11:14 - What is the Best Method of Marketing? 12:22 - How Much to Budget 14:37 - How Long Before Getting an ROI 17:02 - COVID-19 & Marketing 21

In episode 241 of Financially Simple, Justin talks to Biren Patel, owner of Biren Patel Engineering, about running a business with a remote workforce. With the outbreak of the COVID-19 virus, many businesses have shifted to a remote work-from-home setup for their employees in order to reduce the spread of the virus. Justin and Biren discuss setting up a business with a remote workforce, the pros and cons of the system, and important things to consider as a business owner when using this work model. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:24 - Ask Justin featuring Biren Patel: How to Run a Business with a Remote Workforce 02:56 - The How & Why of Having a Remote Workforce 04:35 - The Remote Work Experience 06:21 - Tips to Separate Work from Home Life 08:51 - Does a Work-From-Home System Help Attract and Retain Employees? 11:54 - Best Practices for Businesses and Employees 16:32 - Are Different Performance Metr

In episode 240 of Financially Simple, Justin talks to Paula Harriss, a Business Leadership Coach. Many listeners have asked for some insight on a difficult topic as a Small Business Owner - having the right Leadership and being able to communicate the vision for their business to the Team Members and keep them focused. Justin discusses the issues of Leadership with Paula, from sharing the vision to working with difficult Team Members. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:07 - Ask Justin featuring Paula Harriss: Business Leadership 02:20 - What Does it Take to be a Leader? 04:58 - "Whatever it Takes" in 5 Steps 07:24 - Which Step Do Leaders Often fail to Address? 08:39 - How to Set The Vision of Your Business 11:06 - Training Programs 14:08 - How to Handle Team Members Who do not Share the Vision 18:18 - Employee Conducted Meetings 20:03 - How to Deal With Saboteurs 24:19 - Deciding to Terminate 25:36 - Additio

In episode 239 of Financially Simple, Justin talks to Michael Gamboli of Partridge, Snow & Hahn LLP, about the Family First Act. The Family First Act is due for publication in the next few days, but in that time it has changed and will continue to change according to government recommendations. Justin talks to Michael about the meaning of the Act and how it will affect Business Owners and their Employees, as it currently stands, and how Business Owners can make the most of the Act. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:17 - Ask Justin featuring Michael Gamboli: How Does the Family First Act Affect Small Business Owners as Employers 02:29 - Sick Leave: How It Works 04:09 - The Two Parts 05:38 - Healthcare Providers & Emergency Responders Exemption 07:03 - Pre-Emptive Layoffs 09:35 - What is The Benefit Amount? 10:48 - Does the Act Benefit the Owner/Self-Employed? 11:58 - One Piece of Advice for Business

In episode 238 of Financially Simple, Justin is joined by Brandon Jordan to go over the recently published Family First Act regarding Medical Practitioners. As a result of the COVID-19 crisis, the government has recently passed a bill to assist Small Business Owners and Medical Practitioners that were not prepared, to weather this storm. Justin and Brandon go over a few issues that might have caused Small Business Owners to have been caught out by the crisis, and look at Section 602 of the Family First Act that will help those in difficulty. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:07 - Ask Justin featuring Brandon Jordan: What About the Business Owner Who Wasn't Prepared? 03:21 - Why Do Some Business Owners Duck Their Heads in the Sand? 04:12 - How Are Entrepreneurs Reacting to the Current Crisis? 07:20 - Cashflow: Personal & Business 13:27 - Entrepreneurial Ingenuity 18:01 - Mindset Matters 22:10 - Family Fi

In episode 237 of Financially Simple, Justin talks to Chris Mahan of Mahan Associates on how Medical Practitioners like dentists, chiropractors, and optometrists can weather the current COVID-19 crisis. Many Medical Practitioners, as well as other types of small businesses, are feeling the pinch as the COVID-19 pandemic spreads. Justin and Chris talk about what Medical Business owners like dentists, chiropractors, and optometrists should be looking at, checking, and preparing for, to get through the coming weeks. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:23 - Ask Justin featuring Chris Mahan: Advice to Medical Entrepreneurs During the COVID-19 Crisis 03:48 - The Main Thing to Keep in Mind During These Times 05:15 - Today's Agenda 06:22 - Cashflow 11:34 - Balance Sheet Management 15:56 - Insurance 21:25 - Investing 27:58 - Practice Management 30:16 - Time Off for Employees 33:15 - How to Turn This into a Positive 42

In episode 236 of Financially Simple, Justin talks to Chris Steward about the current movements in the markets caused by COVID-19. In recent days (March 2020) the local and international markets have seen significant drops, along with a big price drop in Oil. Justin sits down with Chris to discuss the causes behind the market drop, and where the markets might go from there. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! _________________   TIME INDEX: 01:00 - Chris Steward discusses market fluctuations due to the Coronavirus 03:06 - What Triggered the Decline? 05:26 - Comparable to 2007-08 Crash 06:27 - Is a Recession Coming? 08:02 - How Do Recent Market Trades Compare to Past Events? 09:46 - How Much Further Can it Go: Is Now a Time to Invest? 12:11 - Cause of the Rapid Decline 13:49 - Chris' Final Thoughts 15:14 - Wrap Up _________________   RESOURCES: Financially Simple Educational Website Financially Simple on YouTube Subscribe to the Financially Sim

In episode 235 of Financially Simple, Justin looks at how the Covid-19 epidemic is affecting the stock market. The Novel Coronavirus (2019) is a cause for concern, with a number of listeners asking the same question: How will it affect the Markets? Justin takes a look at the history of the virus to date, as well as its effect on local and international markets, and gives his opinion on whether to buy, sell, or hold your market options. If you have any questions about anything covered here: Ask Justin Overwhelmed and need help? Let's talk: Work With Us _________________   TIME INDEX: 01:19 - Ask Justin: What Are Your Thoughts on the Coronavirus Outbreak and the Markets? 02:37 - What is a "Corona?" 04:59 - The Covid-19 Virus 06:28 - Effect on the Markets So Far 09:49 - Spread of the Virus 13:33 - Knock-On Effects 15:09 - Justin's Thoughts 18:12 - Preventing Infection 18:50 - Future Market Movements 21:29 - Wrap Up _________________   RESOURCES: Coronavirus Podcast #1 Financially Simple Educational Website Fina