Entrepreneur Strategies

LIFEPOINT FINANCIAL DESIGN
  • 5.0 (2)
  • ENTREPRENEURSHIP
  • UPDATED BIMONTHLY

Welcome to Entrepreneur Strategies Podcast, where we invite successful business owners to join us to discuss their secrets to creating wealth, maintaining their health, and contributing to their family well-being. This show is presented by host Mike Metzger, an entrepreneur, CERTIFIED FINANCIAL PLANNER™, and lifelong student of business success.

  1. 05/10/2024

    From Humble Beginnings to Entrepreneurial Success in E-Commerce; Jonathon Jonas, Decent Startup

    Join us on the Entrepreneur Strategies Podcast as we sit down with the insightful Jonathon Jonas, Founder of Decent Startup. In this episode, Jonathon shares his fascinating journey from humble beginnings to entrepreneurial success, navigating ups and downs, twists, and turns. Discover how networking and an early dive into e-commerce played pivotal roles in shaping his path to success. Tune in for valuable insights and inspiration for your own entrepreneurial journey.   You can find out more about Jonathon at his website and LinkedIn: Decent Startup LinkedIn

    1h 6m

  2. 03/07/2024

    Uncovering Business Owner Tax Secrets; Paul Olsen

    SummaryIn this conversation, Mike Metzger, CFP®, and Paul Olsen discuss the importance of treating staff well and teaching and delegating effectively. They also explore the concept of automating, eliminating, and delegating tasks to improve efficiency. The conversation then shifts to common mistakes in tax planning and the value of proactive tax planning throughout the year. They emphasize the importance of good accounting and its impact on tax and financial planning. The discussion also covers entity structure, payroll strategies, and the benefits of filing for S corporation status. Paul shares insights on the Augusta rule and paying children through the business, highlighting the potential tax savings. The conversation concludes with a discussion on determining the rental price for your home when renting it to your business. Takeaways Treating staff well and teaching them effectively leads to better client service. Automating, eliminating, and delegating tasks can improve efficiency and allow businesses to grow beyond the owner. Proactive tax planning throughout the year is crucial for maximizing deductions and minimizing tax liability. Good accounting is the foundation of effective tax planning and financial management. Filing for S corporation status and paying yourself a reasonable salary can result in significant tax savings. Utilizing the Augusta rule and paying children through the business can provide additional tax benefits. Chapters 00:00The importance of treating staff well 01:11The value of teaching and delegating 03:03Automate, eliminate, delegate 04:23Common mistakes in tax planning 05:11Proactive tax planning 06:00The importance of good accounting 07:15The impact of tax planning on financial planning 08:26Entity structure and payroll strategies 09:19The importance of filing for S corporation status 10:24Paying yourself a reasonable salary 14:42The Augusta rule and paying children through the business 19:13The potential tax savings from implementing these strategies 22:55Determining the rental price for your home

    36 min

  3. 02/16/2024

    Business Valuation As a Catalyst For Growth; Ken Sanginario

    Summary Ken Sanginario, owner of Corporate Value Metrics, shares insights on creating value within businesses and turning around distressed companies. He emphasizes the importance of focusing on valuations early on and understanding the pitfalls of chasing revenue. Ken also discusses the process of developing a standardized approach to assess companies and create future state visions. He provides examples of scaling and creating value in small businesses, as well as the decision-making process between acquiring competitors or building from scratch. Ken highlights the need for business owners to prioritize valuation and institutionalize their knowledge base for long-term success. In this episode, Ken Sanginario discusses the importance of institutionalizing knowledge and the challenge of delegation for business owners. He emphasizes the need to create a sellable business and the process involved in making a business sellable. Ken also introduces the Certified Value Growth Advisor designation and the Value Opportunity Profile software, which help businesses create value and provide guidance for growth. The Certified Value Growth Advisor certification program offers comprehensive training in business fundamentals and strategic planning. The episode concludes with a discussion on the impact of helping middle market companies grow on the overall economy. Takeaways Business owners need to institutionalize knowledge to ensure the sustainability and transferability of their businesses. Delegation is essential for business owners to create a sellable business and prepare for retirement. The Certified Value Growth Advisor designation and the Value Opportunity Profile software provide tools for businesses to create value and develop growth strategies. The Certified Value Growth Advisor certification program offers comprehensive training in business fundamentals and strategic planning. Helping middle market companies grow has a positive impact on the overall economy. Chapters 00:00 Introduction and Importance of Creating Value 03:09 The Pitfalls of Chasing Revenue 09:13 Turnaround Experience and Role 12:23 Developing a Standardized Approach 19:42 Turning Around Distressed Companies 22:25 Scaling and Creating Value in Small Businesses 25:45 Building a Future State Vision 27:05 Acquiring Competitors or Building from Scratch 36:57 The Importance of Valuation 42:02 The Importance of Institutionalizing Knowledge 43:27 The Challenge of Delegation 44:17 Creating a Sellable Business 45:39 The Process of Making a Business Sellable 47:37 Getting Stuck in a Routine 49:45 The Certified Value Growth Advisor Designation 54:21 The Value Opportunity Profile Software 56:43 The Certified Value Growth Advisor Certification Program 01:00:22 The Impact on the Middle Market Economy 01:01:14 Key Takeaways

    1h 3m

  4. 01/16/2024 · VIDEO

    6 Business Owner Financial Strategies to Catapult Your Wealth and Reduce Taxation

    Summary In this episode, Mike Metzger, CFP®, shares six financial strategies for business owners to grow their wealth and reduce taxes. The strategies include choosing the right entity structure, utilizing retirement plans, strategically purchasing large ticket expenses, taking advantage of accelerated depreciation, and implementing installment sales. Each strategy is explained in detail, highlighting the benefits and considerations for business owners. These strategies can help business owners maximize their financial growth and minimize their tax liabilities. Takeaways Choosing the right entity structure is crucial for maximizing financial strategies. Retirement plans can provide tax deductions and help business owners grow their wealth. Strategically timing the purchase of large ticket expenses can reduce taxes and increase the value of the business. Accelerated depreciation allows business owners to depreciate assets in one year, reducing tax liabilities. Implementing installment sales can evenly distribute income over multiple years, reducing tax burdens. These financial strategies can help business owners grow their wealth and reduce taxes. Chapters 00:00 Introduction 01:29 Entity Structure 03:21 Retirement Plans 08:07 Large Ticket Expenses 12:23 Accelerated Depreciation 15:47 Installment Sales 18:40 Summary

    20 min

  5. 01/12/2024 · VIDEO

    Entrepreneur Strategies; Choosing Business Owner Retirement Plans

    Summary In this episode, Mike Metzger discusses the importance of balancing business growth with family and personal health. He introduces the topic of retirement plans for small business owners and provides insights into different options available. The main focus is on SEP IRA, Solo 401k, Safe Harbor 401k, and Traditional 401k plans. Mike explains the eligibility, contribution limits, and benefits of each plan. He also highlights the importance of considering factors like the number of employees and the desire to attract and retain employees when choosing the right retirement plan. Takeaways Balancing business growth with family and personal health is crucial for entrepreneurs. Small business owners have various retirement plan options, including SEP IRA, Solo 401k, Safe Harbor 401k, and Traditional 401k. Factors to consider when choosing a retirement plan include eligibility, contribution limits, and the desire to attract and retain employees. Consulting with a certified financial planner or CPA can help in making an informed decision. Chapters 00:00 Introduction and Purpose of the Podcast 03:20 Retirement Plans for Small Business Owners 06:34 SEP IRA 10:11 Solo 401k 14:29 Safe Harbor 401k and Traditional 401k 18:22 Choosing the Right Retirement Plan Getting In Contact with Mike Lifepointfd.com Instagram: https://www.instagram.com/_mikemetzger

    18 min

  6. 11/14/2023

    Develop Strategic Influence and Leave a Legacy - Insights From Gary Laney

    Gary C. Laney is CEO of Success Masters, author, and serial entrepreneur of 20+ businesses. Industries include business networking, online media, e-commerce, and intellectual property. A dynamic speaker, Gary has been recognized as a top presenter, motivating tens of thousands of entrepreneurs, professionals, and salespeople. Prior to his entrepreneurial run, Gary spent 25 years as an executive in corporate high-tech and commercial publishing. He is known for his ability to turn around businesses and create dramatic revenue growth. Gary has a triple major MBA from Northwestern Kellogg in finance, marketing, and policy.   In this episode of Entrepreneur Strategies, Gary Laney shares his incredible journey of growing up in a family of entrepreneurs and then pursuing various business and leadership roles. He discusses his experiences learning Spanish through full immersion in Spain and how that shaped him. Gary also details his process for developing influence outlined in his bestselling book The Power of Strategic Influence. Throughout the podcast, Gary provides valuable advice and insights from his decades of experience starting, advising, and selling over 20 companies. This week on Entrepreneur Strategies: Entrepreneurship, family business, and career path. Career progression and entrepreneurship. Entrepreneurship, sales, and business growth. Learning Spanish and overcoming language barriers. The power of influence and strategic decision-making. Networking and building relationships with influential people. Leadership, influence, and new book release.   Our Favorite Quotes:   "Strategic influence is about relationships, it's about getting the right people together. So they can actually do something that's meaningful, and maybe magical." - Gary Laney "You have to listen to your gut. You can call the gut whatever you want. But there's something inside you, that tells you, you're better than you, you're performing, that you have the capacity to give more than you're giving." - Gary Laney Connect with Mike:   Lifepoint Financial Design Website: www.lifepointfd.com Email Mike: mike@lifepointfd.com LinkedIn: www.linkedin.com/in/michael-metzger-cfp%C2%AE-crps%C2%AE-88690227/ And, if you enjoy the show, please leave a review to help others discover the podcast. Lifepoint Financial Design, LLC, is registered to conduct investment advisory business in the state of California. Opinions expressed are as of the current date and subject to change without notice. This commentary is for informational purposes only and has not been tailored to suit any individual.Investments involve risk and unless otherwise stated, are not guaranteed.

    37 min

  7. 10/24/2023

    Building a Personal Brand for Success in Business with Paul Barnhurst

    Paul Barnhurst is a Finance Professional with 12+ years of finance and FP&A experience. He Earned a bachelor's from BYU, an MBA specializing in finance, and a Master of Information Management from Arizona State University. Paul recently launched his own business called The FP&A Guy providing FP&A consulting services for small and midsized companies, FP&A Training, and FP&A content creation (Webinars, blogs, sponsored LinkedIn Posts). He resides in the Salt Lake City, Utah area with his wife and daughter. On LinkedIn, he goes by the moniker The FP&A Guy.   In this episode Paul Barnhurst discusses his journey from studying business at BYU to founding his own successful company as an FP&A consultant. He explains the role of financial planning and analysis in helping businesses budget, forecast, and make strategic investment decisions. Paul also emphasizes the importance of building a strong personal brand and scaling a business while maintaining a focus on family. Listeners learn practical FP&A strategies and insights from Paul's experience growing as an entrepreneur.   "Your FP&A is about forward looking. It's about how do you spend that next dollar best. So FP&A is really what I would call it a strategic advisor for the business that helps with the budgeting helps with ad hoc analysis, and investment decisions."  - Paul Barnhurst   This week on Entrepreneur Strategies: Introducing Paul Barnhurst Pricing strategy and product rollout. Financial planning and analysis with a specialist. Entrepreneurship journey and building a business. Personal branding and influence marketing for small business owners. Financial planning and analysis for businesses. The role of FPGA in business decision-making. Scaling a business with a virtual assistant. Our Favorite Moments:   "I think having that plan, in that ideal where you go isn't about being right, because anyone who's forecasted is wrong. And they're wrong almost all the time." - Paul Barnhurst "I think particularly with small companies, where it usually starts, is helping them actually budget. Many small companies don't build a budget.” - Mike Metzger "I always tell small companies, if you have a bookkeeper that's telling you, they're giving you advisory services and charging you for it. And all you're getting as your financials in a couple sentences about what happened, then you probably need to go back to him and ask for more or find somebody different” - Paul Barnhurst Connect with Paul Barnhurst:   Paul Barnhurst on LinkedIn: https://www.linkedin.com/in/thefpandaguy/   Don’t forget to subscribe, and if you enjoy the show, please leave a review to help others discover the podcast. Lifepoint Financial Design, LLC, is registered to conduct investment advisory business in the state of California. Opinions expressed are as of the current date and subject to change without notice. This commentary is for informational purposes only and has not been tailored to suit any individual.Investments involve risk and unless otherwise stated, are not guaranteed.

    46 min

  8. 10/10/2023

    Growing a Home Inspection Business from the Ground Up with Andrew Jolley

    This episode features home inspector Andrew Jolley and focuses on his career path and day-to-day work in the industry. He discusses how he got started in home inspections by maintaining foreclosed properties, and how he eventually became certified and started his own successful business. Andrew also provides valuable insights into the home inspection process and what buyers and sellers should expect. Additionally, this episode touches on some of the challenges of the job as well as how Andrew prioritizes health, family time, and work-life balance as a busy entrepreneur.   "For myself, I think it's more important what I do when I'm busy putting away savings, when I'm very busy, because on the flip side of it, when it slows down, I'm able to enjoy that time, and focus on other projects and giving my attention to other things and just enjoying the little bit of a break when I do have it." - Andrew Jolley   This week on Entrepreneur Strategies: Managing finances during business ups and downs. Entrepreneurship, business growth, and personal health. Home inspections and their importance. DIY projects, and business ownership. Education, and business challenges. Real estate industry challenges and strategies. Radon testing, and methamphetamine detection. Home inspections, prioritizing fitness, and family bonding.   Our Favorite Quotes:   “I can do my best at marketing and giving buyers as much value as possible. But if rates go up another percent, and there's less buyers, I have no control over that.” - Andrew Jolley "I would rather have a very, very thorough Home Inspector, I would rather know everything that's on there, and then be able to have a personal discussion with my home inspector of,  okay, so now we've got all of these issues documented, we can present that to the seller." - Mike Metzger Connect with Mike:   Lifepoint Financial Design Website: https://www.lifepointfd.com/ Email Mike: mike@lifepointfd.com Connect with Mike on LinkedIn: https://www.linkedin.com/in/michael-metzger-cfp%C2%AE-crps%C2%AE-88690227/ And, if you enjoy the show, please leave a review to help others discover the podcast.   Lifepoint Financial Design, LLC, is registered to conduct investment advisory business in the state of California. Opinions expressed are as of the current date and subject to change without notice. This commentary is for informational purposes only and has not been tailored to suit any individual.Investments involve risk and unless otherwise stated, are not guaranteed.

    35 min
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About

Welcome to Entrepreneur Strategies Podcast, where we invite successful business owners to join us to discuss their secrets to creating wealth, maintaining their health, and contributing to their family well-being. This show is presented by host Mike Metzger, an entrepreneur, CERTIFIED FINANCIAL PLANNER™, and lifelong student of business success.

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