48 episodes

A new perspective on retirement and business exit planning for entrepreneurs and business owners

The Retiring Entrepreneur Podcast Brett Fellows, CFP®

    • Business
    • 5.0 • 3 Ratings

A new perspective on retirement and business exit planning for entrepreneurs and business owners

    Do You Really Need a Financial Advisor?

    Do You Really Need a Financial Advisor?

    It’s natural to be skeptical about paying for financial advice. Still, there are circumstances that warrant delegating to a professional. Here are six times small business owners may need a financial advisor.  
    [01:34] Retiring from your small business on your preferred terms.
    [02:17] Facing a big financial decision. 
    [03:04] Diversifying your assets. 
    [03:44] Minimizing your tax bill. 
    [04:32] Navigating complex financial needs. 
    [05:08] Preserving your time and energy for what’s most important to you and your small business. 
    For more information and resources related to this episode, please visit the show notes.

    • 6 min
    Seller Financing the Sale of Your Small Business

    Seller Financing the Sale of Your Small Business

    Though seller financing has its advantages, there are potential risks involved. Understanding the pros and cons of seller financing your small business sale can help you determine if it’s the right exit path for you.
    For more information and resources related to this episode, please visit the show notes.

    • 9 min
    3 Financial Best Practices for Small Business Owners

    3 Financial Best Practices for Small Business Owners

    Brett shares three financial best practices for small business owners--specifically, entrepreneurs who run a smaller business--to help you run a clean, efficient small business that is legal and well organized. 

    [03:15] How to pay yourself as the owner of a small business. 
    [08:08] Why having a proper accounting system is essential no matter the size of your business.  
    [11:00] The importance of making your quarterly estimated tax payments on time. 
    For more information and resources related to this episode, please visit the show notes.

    • 17 min
    Understanding Your Small Business's Profit and Loss Statement

    Understanding Your Small Business's Profit and Loss Statement

    Brett shares his insights into creating and interpreting your small business's profit and loss statement. 

    [03:10] What it means to expect what you inspect.
    [06:28] Why you don’t want your profit and loss statement to fall more than 30 days behind. 
    [09:00] Why inventory purchases may skew your P&L for the month. 
    [11:46] What monthly P&L trends can tell you about your business. 
    [15:20] What it means when you see volatility in your profit margins, and why it’s not always cause for concern. 
    For more information and resources related to this episode, please visit the show notes.

    • 19 min
    How Business Owners Can Adopt a Profit-First Mentality

    How Business Owners Can Adopt a Profit-First Mentality

    Brett shares his thoughts on how to implement a profit-first mentality in your small business, so that you feel less overwhelmed and burned out and can ultimately help more people.

    [02:25] What does “profit-first” mean?
    [05:25] Why profit-first works. 
    [06:44] The five accounts you should consider opening to implement a basic profit-first system.  
    [11:26] Why mindset is so important when it comes to building and preserving wealth. 
    For more information and resources related to this episode, please visit the show notes. 
    For more information and resources related to this episode, please visit the show notes.

    • 15 min
    Can I-Bonds Help Business Owners Fight Inflation?

    Can I-Bonds Help Business Owners Fight Inflation?

    In this episode, Brett shares why I-Bonds may be an effective investment opportunity for business owners who want to outpace inflation.

    [02:46] The relationship between bond prices and inflation.
    [04:30] What can business owners do about falling bond prices?
    [06:58] What are I-Bonds?
    [09:00] What are the characteristics of I-Bonds?
    [11:34] The benefits of I-Bonds.
    [16:06] How to use I-Bonds.
    For more information and resources related to this episode, please visit the show notes. 
    For more information and resources related to this episode, please visit the show notes.

    • 19 min

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