Financially Simple

In episode 112 of Financially Simple, Justin looks at Seven Key Processes that a Business Owner should have in place for their Employees. Having set processes established in your company with regard to the handling of your Team's hiring, performance, advancement, firing and retirement will add value to your Business. Justin goes over his seven Key Employee Processes that will help your Team and Business succeed. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 01:03 - The Employee Systems needed for Maximum Value 01:57 - Having Processes in Place 03:02 - The Hiring Process 07:31 - The Performance Management Process 08:02 - The Education Process 10:09 - The Recognition Process 12:00 - The Advancement Process 13:08 - The Firing Process 16:09 - The Retirement Process 16:51 - Closing   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®,

In episode 111 of Financially Simple, Justin goes over the process of conducting a Performance Review. Continuous and regular evaluation of your Team leads to their development and the growth of the business. Justin looks at Performance Reviews, how to approach the process, work with Team Members throughout, and provide constructive feedback. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! ARTICLE TRANSCRIPT: BLOG: Everything You Need to Know About Conducting a Performance Review TIME INDEX: 00:43 - How to Conduct a Performance Review with Your Team 02:01 - The Problem with Reviews 04:42 - Why Conduct Performance Reviews? 08:04 - Performance Management vs. Performance Review 09:23 - Purpose of Performance Reviews 09:46 - Preparing for the Appraisal Session 12:52 - Conducting the Appraisal Session 17:28 - Be Descriptive and Have Examples 17:46 - Performance Levels 20:31 - Core Message: The Last Word   USEFUL LINKS: Financially Simple Financially Simple on

In episode 110 of Financially Simple, Justin talks about Employee Performance Reviews as a tool for growth. Performance Management is key to developing a business. Constantly evaluating, discussing, and setting goals drives a business forward. Justin takes a look at the components of Performance Management, and the steps to take throughout the process. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION: BLOG: Employee Performance: Clearly Setting Expectations for Team Success   TIME INDEX: 00:33 - How to Use Performance Reviews for Value Growth 01:11 - Performance Management 02:31 - Have Clear Documented Expectations 03:19 - Regularly Discuss Key Components 03:58 - Meet With the Team Regularly 04:54 - 360 Feedback 05:28 - Share the Performance Review Format 06:43 - Work Together on Goal Setting 07:31 - Discuss the Positive and Negative Components 08:55 - The Process 09:09 - Setting Goals 10:12 - Review Goals 10:41 - Review Results 11:38 -

In episode 109 of Financially Simple, Justin looks at ways of retaining members of your team. Valuing your team members is important, and showing them that they are valued is equally important. Justin goes over several ways to make sure that your employees stick with you and the business, through thick and thin. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG/TRANSCRIPTION: BLOG: Stop the Revolving Door... 12 Tips to Retain Valuable Employees TIME INDEX: 00:23 - How to Retain Your Team Forever 01:44 - Expectations 03:35 - Respect 04:41 - Responsibility 05:20 - Provide Quality Management Supervision 08:07 - Reviews 08:36 - Provide the Tools Needed 09:32 - Revenue-Sharing 11:07 - Appreciation 12:23 - Time Off 13:52 - Golden Handcuffs 15:52 - Closing   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter _________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized

In episode 108 of Financially Simple, Justin examines 12 ways to grow your Employee Team. As your business grows, and you expand your team of employees, it's important to consider whether they're the right fit for the company and that they will have the right opportunities to develop within the company. As they grow, so too will the company. Justin looks at 12 different methods that will help overall growth of your employees, and business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!  ARTICLE TRANSCRIPT: BLOG: 12 Ideas for Investing in Employees That Grow Your Team's Value   TIME INDEX: 00:35 - 12 Ways to Grow Your Employee Team 04:25 - Ask Questions About Their Life Path 05:18 - Encourage Professional Development 06:56 - Create a Development Plan 08:22 - Turn Weekly Meetings into Educational Meetings 09:27 - Pair Employees with Mentors 10:30 - Delegate 11:17 - Use Stretch Assignments 14:03 - Help Them Build Their Networks 15:30 - Show Employees that Y

In episode 107 of Financially Simple, Justin looks at ways to affect cultural change within a business. Changing the culture and values of an established business can be difficult, and can take a while to fully realize, but the potential benefits can lead to a significant increase in the value of a business. Justin considers the steps to take as a business owner to affect cultural change, and also looks at potential roadblocks to overcome. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:50 - How to Affect Cultural Change 02:24 - Commit 02:58 - Measure 03:50 - Define 04:28 - Align 05:36 - A Case Study 10:11 - Entropy and the Bottom Line 11:38 - Roadblocks to Growth 12:36 - Lack of Leadership 13:33 - Too Vague 13:50 - Short-Term Vision 14:20 - Lack of Feedback 14:29 - Lose Focus 15:29 - Low Level of Integration 15:40 - Closing   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on

In episode 106 of Financially Simple, Justin looks at maximizing the Value Alignment of a business. Sharing the same values throughout the different operational levels of your business is important in achieving harmony within the business as well as enhancing production. Justin goes over the three key areas to consider when aligning a business's values. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:26 - The Three Key Areas to Address for Maximum Value Alignment 01:08 - Personal Values 04:07 - Align the Team 05:58 - Align the Organisation 07:57 - Closing USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell bus

In episode 105 of Financially Simple, Justin continues his examination of Company Culture. Sometimes the leaders at the top are unaware of issues in the lower tiers of the company, and the lower the tier level, the less those at the top know. Justin takes a look at the seven levels of Organizational Awareness, from Survival to Service, and explains how critical good cultural values within a company are in making a best in class business. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!   BLOG/TRANSCRIPTION: BLOG: Understanding Positive Company Culture - Rise Above Dysfunction   TIME INDEX: 00:26 - How to Build the Best Company to Work For - Part 2 01:21 - The Iceberg of Ignorance 03:31 - Organizational Awareness 04:55 - Survival 06:15 - Relationships 06:42 - Self Esteem 07:46 - Transformation 08:40 - Internal Cohesion 09:43 - Making a Difference 10:34 - Level of Service 11:02 - Why this Matters 14:18 - Cultural Entropy 15:04 - Closing   USEFUL LINKS: Finan

In episode 104 of Financially Simple, Justin looks at Company Culture. The culture of a company will determine whether people want to work there, shop there, or use the company's services. Justin considers the importance of having good cultural values for your business, and how necessary culture can be. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:29 - How to Build the Best Company to Work For 02:15 - The Culture of the Company 03:29 - Basic Needs & Growth Needs 05:08 - Measuring Culture 06:50 - Good Company Culture leads to Good Company Growth 09:35 - Does it Really Matter? 11:27 - What Lies Beneath 17:25 - Closing   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experien

In episode 103 of Financially Simple, Justin begins to look at how to build a great Team. There are a number of factors to consider when building your business's Team of players. Justin goes over his 14 main considerations that business owners should bear in mind. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! ARTICLE TRANSCRIPT: BLOG: The 14 Aspects of Great Employee Teams   TIME INDEX: 00:39 - How to Build a Great Team 04:00 - What exactly makes a Great Team? 04:16 - A Common Goal 05:14 - Culture and Values 06:41 - Have Diversity 08:31 - Every Player Must Have the Right Skills for Their Role 10:35 - Everyone Contributes Their All 12:11 - Accountability 15:06 - Support Each Other 16:17 - Communicate Transparently 17:23 - Conflict Resolutions 18:13 - Mutual Respect 19:57 - Decision Making is Supported, Challenged and Strengthened 21:23 - Organization is Well-Defined 22:25 - Strong Leadership 24:18 - Have Fun! 25:21 - Closing   USEFUL LINKS: Financially S

In episode 102 of Financially Simple, Justin considers the merits of having a Marketing strategy for your Business. Building a Marketing plan for your Business is complicated and can cost a fair amount to implement - is all of that effort and money worth it? Justin goes over the process of evaluating and refining your Business's Marketing strategy so that you will reap the profits. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!  BLOG TRANSCRIPTIONS: BLOG: Marketing - A Waste of Money or Essential for Growth?   TIME INDEX: 00:45 - Is Marketing worth it? 01:08 - The Parable of the Hotdog Vendor 04:18 - Is it worth it? 06:20 - How do You Know if Marketing works? 07:38 - Create a Marketing Budget Based on the Goals Set Out 12:29 - Monitor and Measure 16:19 - Detail the Allocation 17:55 - Prospect Qualification 19:20 - A Major Missing Aspect in Many Marketing Plans 21:12 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Si

In episode 101 of Financially Simple, Justin looks at Branding as part of a Business's Marketing Strategy. The Branding of your business makes it easily identifiable, recognizable, and conveys a message. Justin defines Branding and explains the Four Cs to consider when defining your business Brand. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION: BLOG: The Four Cs - Branding for Small Businesses   TIME INDEX: 00:27 - Branding 01:44 - Branding in Business 04:00 - What Exactly is Branding 05:57 - Branding Sets Expectations 07:06 - How to Brand Your Business - the Four Cs 13:49 - So, How's Your Branding?   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter _________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small

In episode 100 of Financially Simple, Justin looks back on the last 99 episodes and gives a teaser of what's still to come. Episode 100!!! Justin gives a short retrospective of the podcast, listing some of his favorite episodes and moments, as well as talking about what topics he's planning on covering next. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!   TIME INDEX: 00:26 - 100 Episodes! 01:26 - 002: Planning the Sale of Your Business by Starting at the End 03:23 - 004: The Mastery of Competitive Advantage 03:36 - 015: Don't Share the Corn, Share the Harvest 03:59 - 019: Know Your Business's Minimum Sale Price 04:25 - 025: The Offer - Building the Pitchbook 04:37 - 030: How to Minimize Taxes When You Sell Your Business 06:00 - 039: Chris Snider Interview - Exit Planning Institute 06:28 - 044: John Mills Patrick Interview - Start-Ups & Funding 06:59 - 048-062: Starting a Company 07:44 - 070-073: Growing the Value of Your Company 08:30 - 077: The Str

In episode 99 of Financially Simple, Justin goes over the Market Positioning of your Business. Where does your Business stand in the market that it works in? What do your customers and potential customers think of the business? What do your competitors think? Justin considers these questions and asks, How is your Business positioned in the market? Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:28 - Market Positioning 04:46 - How Is the Business Positioned? 06:51 - Surveying the Market 08:08 - Internal Survey 09:36 - External Survey 10:19 - Putting the Steps in Motion 12:26 - Keys to Solid Positioning 18:42 - So, How Well-Positioned Is Your Business?   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur.

In episode 98 of Financially Simple, Justin looks at the basics of a Marketing Plan. A good Marketing Plan that is well executed will increase the profitability of your business, recoup any expenses, improve your clientele, and make your business more attractive to potential buyers down the line. Justin goes over the basics of a Marketing Plan, looking at each aspect of the plan that you should consider. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 00:35 - The Marketing Plan 01:10 - Example: The Dentist 04:20 - The Basics of a Marketing Plan 04:27 - What Are the Goals? 05:20 - Identify the Challenge 05:47 - Who Is the Target Audience? 06:09 - "Frazzled Frank" 10:41 - The Process 13:43 - Example Of a Step-by-Step Plan 19:51 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized finan

In episode 97 of Financially Simple, Justin begins looking at Marketing. Understanding the principles of Marketing is fundamental to making sales, and growing your business. Justin goes over what Marketing is, and the core "9 Ps" that need to be considered when getting started. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TIME INDEX: 01:08 - The Many Ps of Marketing 02:01 - Where Marketing Starts 03:10 - Definition of Marketing 04:51 - The 4 Ps 10:28 - The Extended Marketing Mix 14:10 - The Ninth P: Profitability 16:15 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter E. Jerome McCarthy ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a m

In episode 96 of Financially Simple, Justin considers how to best manage your Sales Team. Once you have put together your Best-in-Class Sales Team, and have ascertained how to make the team productive, it's important to keep them focused. Justin looks at how to keep the team on the straight and narrow, and how to make sure that they are improving. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION: BLOG: How to Manage a Sales Team Using the T.E.A.M. Approach   TIME INDEX: 00:24 - Managing Your Sales Team 01:45 - What is Effective Sales Management? 01:51 - Goals 02:39 - Planning 03:18 - Tracking 05:11 - What to Track 06:20 - Performance Evaluation 08:32 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter _________ BIO:  Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and

In episode 95 of Financially Simple, Justin looks at developing Compensation Plans for a Best in Class Sales Team. If you've done a great job and hit all your targets, it's satisfying - even more so if you're well rewarded for your efforts! Justin goes over the fundamentals of putting together a suitable Compensation scheme for the outstanding work done by your Sales Team to keep them motivated and hungry for more. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! ARTICLE TRANSCRIPT: BLOG: Creating a Sales Compensation Plan That Works for You & Your Team   TIME INDEX: 00:28 - Growing Sales through a Best-in-Class Compensation Plan 02:14 - What is a Best-in-Class Compensation Plan? 02:53 - Compensation Plan Objectives 04:38 - Putting the Plan Together 04:56 - Step 1: Determine the Compensation Based on Discussions With Other Businesses 07:36 - Step 2: Decide Which Items Will Be in the Final Compensation Package 09:15 - Things to Consider When Designing

In episode 94 of Financially Simple, Justin looks at 5 steps you need to take when hiring members of a Best-in-Class Sales Team. When you are putting together your sales team, there are some specific steps that you should follow when hiring members for the Team. Justin outlines the 5 steps to take, and what is involved in each step. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION:  BLOG: 5 Steps to Finding Best-in-Class Salespeople for Your Business   TIME INDEX: 00:26 - Building a Best-in-Class Sales Team 01:39 - Sales People must fit the culture of the Company 04:05 - Screening 07:24 - Initial Face-to-Face Interview 09:41 - Role Play Skills 11:19 - Inspection of Sales Activities and Results 13:35 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter DISC Personality Test Barret 7 Values of Commitment ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA,

In episode 93 of Financially Simple, Justin looks at the sales team, what makes them great, and systems that help you manage this team. A Best-in-Class Sales Team should have a number of qualities to help drive your business's sales and growth. Justin goes over the acronym T.E.A.M. as a method of managing these vital people. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! BLOG TRANSCRIPTION:  BLOG: How to Manage a Sales Team Using the T.E.A.M. Approach   TIME INDEX: 00:25 - What is a Best-in-Class Sales Team? 03:42 - T.E.A.M. 03:52 - Tasks 06:19 - Expertise 09:15 - Attitude 14:16 - Managing Their Business 16:45 - Summary   USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching smal