39 episodes

Expensive Advice is a podcast where you’ll hear the kind of insider conversations you can’t hear anywhere else. Hosted by Adam Rundle founder of Clever Profits - a financial advisory firm serving wealthy successful founders and business owners. He’ll be talking to leading industry experts, business leaders, and founders about the secrets and stories they don’t normally share. With access to these kinds of great stories, he’s looking to avoid expensive mistakes and have fun along the way.

Join me.

Expensive Advice with Adam Rundle Adam Rundle

    • Business

Expensive Advice is a podcast where you’ll hear the kind of insider conversations you can’t hear anywhere else. Hosted by Adam Rundle founder of Clever Profits - a financial advisory firm serving wealthy successful founders and business owners. He’ll be talking to leading industry experts, business leaders, and founders about the secrets and stories they don’t normally share. With access to these kinds of great stories, he’s looking to avoid expensive mistakes and have fun along the way.

Join me.

    What It Takes To Bring A Startup To Life with Andrew Gazdecki

    What It Takes To Bring A Startup To Life with Andrew Gazdecki

    Andrew Gazdecki is the CEO of MicroAcquire, a company that helps startups get acquired in as little as 30 days. The company has closed over $ 500 million worth of deals and aims to establish itself as the most founder-friendly acquisition marketplace for startup owners. Andrew has always been an entrepreneur, which started in his teen years when he started selling on eBay. His first official experience as an entrepreneur was when he founded Bizness Apps in 2010, which was successfully acquired in 2018 by ESW Capital. Andrew is also the author of Getting Acquired: How I Built and Sold My SaaS Startup, where he talks about how he founded a startup without any real work experience.



    Andrew joins me to discuss where his entrepreneurial journey started and how building iPhone apps eventually led to his big financial break. He shares his thoughts on the luck aspect of owning a successful business and explains that startups are more about motivation and grinding than intelligence. He also describes why he saw Blockchain as ‘the next big thing’ a few years earlier and shares actionable advice to entrepreneurs building a business while raising a family.



     

    "Building startups is a game of mental endurance, taking care of yourself, and not getting too high on the wind."

    - Andrew Gazdecki

     



    This week on the Expensive Advice Podcast:



    * Andrew's entrepreneurial journey

    * How the iPhone inspired Andrew to build apps as a career

    * Andrew's thoughts on being lucky as a business owner

    * Blockchain and how its potential is like the smartphone and the internet

    * Andrew’s perspective on being positioned to sell from day one

    * The importance of enjoying your work as an entrepreneur

    * Andrew's advice to those new to building a startup

    * What's in the pipeline for MicroAcquire?

    * Andrew's advice to entrepreneurs juggling building a business while raising children



    Connect with Andrew Gazdecki:



    * MicroAcquire

    * Andrew Gazdecki on LinkedIn

    * Andrew Gazdecki on Twitter

    * Andrew Gazdecki Official Website



    Turning Boring Money into FUN Money

    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.

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    • 45 min
    E37 Separating Yourself from Your Personal Branded Business

    E37 Separating Yourself from Your Personal Branded Business

    Selling a business is often a standard process, but not if you’re selling a personal branded business—especially if it has your name on it. The awkward and complex processes involved in transferring ownership of such a business can be further exacerbated by emotional resistance. How do you go about selling a personal branded business? What should you do to separate from a company named after yourself?



    In this episode, I share my thoughts on selling personally branded businesses and what owners can do to ensure the transition is smooth for both the buyer and seller. I outline the different options for sellers and why it’s critical to have succession plans. I discuss how to find the value in the company you’re selling and why your competitors are a good reference. I also describe why rushing your succession plan is a bad idea.

    "If you're a personal branded business, don't be discouraged by this notion that you can't exit."

    - Adam Rundle

    This week on the Expensive Advice Podcast:



    * The selling options available for personally branded businesses

    * Creating succession in your business

    * Finding the value of your business during the selling process

    * Some of the most effective ways of moving away from your business

    * How competitors can help you sell your business



     

    Turning Boring Money into FUN Money

    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.

    Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser| Deezer

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    • 8 min
    E36 Planning around The Perfect P&L

    E36 Planning around The Perfect P&L

    The overarching goal of every business plan is to make more money. One of the critical ways of determining if your company is operating on a profit is by checking its profit and loss statement (P&L). The P&L is a summary of incurred losses and earnings over a period. What does the perfect P&L look like, and what metrics should you use to see if you have it?



    In this episode, I define the perfect P&L and describe how we use it for our clients in Clever Profits. I explain how this concept originated and how it’s designed to maximize a company’s profitability. I describe the various metrics to use to determine P&L. I also share best practices in analyzing business performance and how to get the outcome you set out for.

    “The perfect P&L is the foundation of a framework to maximize the performance of businesses and clients we're working with.”

    - Adam Rundle

    This week on the Expensive Advice Podcast:



    * Understanding how the perfect P&L works

    * Where the concept of the perfect P&L started

    * How to use the perfect P&L to maximize profitability

    * Why profitability isn't the end all be all

    * The variables used to determine perfect P&L

    * Finding your company's key drivers for higher profits

    * Knowing your profit margins and other questions to analyze performance

    * Applying reverse engineering to identify your desired outcome



     

    Turning Boring Money into FUN Money

    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.

    Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser |Deezer

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    • 31 min
    E35 Risks of Buying a Personalized Brand of Business with the Advisory Team

    E35 Risks of Buying a Personalized Brand of Business with the Advisory Team

    Buying a company is always exciting—the prospects of growth and inheriting something already established and ready on day one can offset the pressure of starting a business from scratch. However, particular risks are associated with purchasing an organization. What are the common mistakes buyers make in company acquisitions? How do sellers ensure that their companies are sold on their terms?



    In this episode, we discuss common setbacks in buying a personalized brand of business. We identify the questions buyers and sellers should ask before proceeding with a transaction. We explain how the concept of succession planning applies to acquisitions. We also describe how owners can protect their best interests during a business transaction.



     

    "Most people don't like approaching competitors, but that might be the best avenue for you to get the best value out of your exit."

    - Jean-Luc Johnstone

     



    This week on the Expensive Advice Podcast:



    * How to separate the owner from the business

    * Defining succession planning and why it matters in business transitions

    * Preparing yourself by way of succession planning

    * Selling only parts of your business upon exiting

    * Surrounding yourself with the right people to get your desired outcome



     



    Connect with Matt Smith and Jean-Luc Johnstone:



    * Matt Smith on LinkedIn

    * Jean-Luc Johnstone on LinkedIn



     

    Turning Boring Money into FUN Money

    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.

    Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser | Deezer

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    Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.

    • 33 min
    E34 Knowing Price and Value from a Buyer and Seller Perspective

    E34 Knowing Price and Value from a Buyer and Seller Perspective

    Business owners tend to overvalue their companies when it’s time to sell them, which can be a problem when a buyer is interested and both parties collide on how much the business really costs. To avoid this conflict, you must first see your business from a buyer’s perspective. It all starts with knowing the difference between your company’s value and price.



     



    In this episode, I discuss the critical differences between value and price in the context of selling a business. I explain the importance of knowing your buyer’s perspective before, during, and after the sale. I share some of the questions buyers ask when they’re interested in your company. I also describe why SaaS companies aren’t valued for their profitability.



     

    "A seller and buyer have a certain view on the value, and they don't quite align." - Adam Rundle

    This week on the Expensive Advice Podcast:



    * The similarities and differences between price and value

    * How to use price and value when selling a company

    * Questions to think about when buying something

    * Why SaaS companies are valued on revenue as opposed to profitability

    * What a seller is actually selling a buyer



     

    Turning Boring Money into FUN Money



    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.



    Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser

     Deezer



    Be sure to share your favorite episodes on social media to help us reach more listeners, like you.



    Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.

    • 7 min
    E33 Ten Common Mistakes in Acquisitions with the Advisory Team

    E33 Ten Common Mistakes in Acquisitions with the Advisory Team

    Whether you’re on the selling or buying side of an acquisition, the details in between can get a little too complex if you don’t have the right people giving you advice along the way. That is why there are many instances where transactions fall through. How do you avoid disputes arising before, during, and after an acquisition?



     



    In this episode, we discuss the ten common mistakes business owners make in acquisitions and how to prevent them from happening. We describe the challenges of leading a business in the middle of an acquisition. We explain why most owners don’t know why they’re selling their companies in the first place. We also offer insight on understanding how the buyer’s idea of your company’s value differs from yours.



     

    "Just because you know your business the best doesn't mean doesn't mean you're the best at selling it." - Matt Smith

     



    This week on the Expensive Advice Podcast:



     



    * The difficulty of keeping things balanced when handling your first deal

    * What to be aware of during the first offer

    * Understanding the value of your business

    * Knowing how your buyers value your business

    * Knowing the value of the culture after the business is sold

    * Hiring the right person to sell your business

    * Why most owners don't know why they're selling their business

    * Being aware of business blindspots during transactions



     



    Resources Mentioned:



     



    * Stock Sale vs Asset Sale with the Advisory Team



     



    Connect with Matt Smith and Jean-Luc Johnstone:



     



    * Matt Smith on LinkedIn

    * Jean-Luc Johnstone on LinkedIn



     

    Turning Boring Money into FUN Money



    Thanks for tuning into this week’s episode of Expensive Advice. If you enjoyed this episode, please subscribe and leave a review wherever you get your podcasts.



    Apple Podcasts | GooglePlay | Stitcher | Spotify | Amazon Music | iHeart | Android | Podchaser

     Deezer



    Be sure to share your favorite episodes on social media to help us reach more listeners, like you.



    Join us on Facebook and LinkedIn. For more exclusive content and information, visit our website.

    • 43 min

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