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. 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.

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 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

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 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.

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 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.

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.

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.

Being a good leader means adapting to disruptions and initiating changes that benefit the organization and its people in the long term. However, conjuring optimal transformations and actually applying them are two different beasts. One wrong move, or one change done too hastily, can lead to friction between you and your workers. How does a leader manage change without being on the receiving end of employee resistance?   In this episode, I explain how leaders can manage people as they apply changes to the organization. I describe how 2022 has been a year of change for CleverProfits. I outline the factors to consider when thinking about restructuring an organization. I discuss how to address any resistance or confusion during the transition period. I also share the importance of consensus and having resources when making changes.   "By nature, leaders may overlook resources or incentives or skills people have because they're so focused on vision." - Adam Rundle   This week on the Expensive Advice Podcast:   The process of managing change in 2022 for CleverProfits Navigating changes effectively to get to the outcome we want What you need to execute the changes you want to see in your organization Addressing the confusion experienced by your team when instituting change Making sure you see every blindspot when making organizational changes   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.

EA031 - Planning for Parenthood and Beyond with Kaitlyn Carlson  Kaitlyn Carlson, CFP®, CEPA®, AWMA, is the CEO and founder of Theory Planning Partners, a boutique wealth advising company that caters explicitly to top female entrepreneurs in the United States. Kaitlyn founded the business after observing the vast support for male multi-millionaires and billionaires, seeking to help close the gap for their female counterparts. Kaitlyn specializes in exit planning, which involves helping business owners plan for the sale of their businesses with a focus on retirement.  Kaitlyn joins me today to describe her professional journey and why she pursued a career in wealth creation and retirement planning. She explains what motherhood is like and how she manages to balance her family and career. She differentiates between building an enterprise and a lifestyle business. She discusses the type of clients she likes to work with and what it means to be intentional in wealth management. Kaitlyn also reveals what parents can learn from their children and how it can translate to their professional lives.    “Your savings is going to be what secures your financial independence.” - Kaitlyn Carlson  This week on the Expensive Advice Podcast:  Kaitlyn Carlson and how she found her way into the financial industry  How pregnancy and parenthood change your career plans  Building an enterprise versus a lifestyle business  The best time to start preparing for retirement  Having intentionality behind your financial planning The tipping point in the private wealth space  Kaitlyn’s thoughts on money and whether you can have too much of it  How to wrap your mind around starting from the bottom  What parents can learn from their children  Kaitlyn’s upcoming projects and thoughts on motherhood  Connect with Kaitlyn Carlson:  Theory Planning  Kaitlyn Carlson on LinkedIn  Email: kaitlyn.carlson@theoryplanning.com    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.

EA030 - Debt's Impact on the Selling Process with the Advisory Team   When a company needs to scale, it will almost always incur debt. This adds a layer of risk when purchasing a company, as you also have to consider inheriting that debt. While debt itself won’t make the transaction volatile, owners and advisors should assess whether it would be to their advantage to proceed. What are the questions you have to ask about debt? Can you decide to pass on debt?   Today, we describe our thoughts on buying companies in debt and the factors owners and their advisory teams need to consider before proceeding with the transaction. We explain why being in debt isn’t necessarily a problem. We share some ways to mitigate the risks associated with buying a business in debt. We also discuss commonly overlooked details in business valuations and why advisors can’t just make assumptions.   “Debt isn’t always a bad thing, so don’t be scared of it. Just know how to deal with it.” - Jean-Luc Johnstone   This week on the Expensive Advice Podcast:   Debt and the factors to pay attention to during a business sale Questions you must ask when dealing with company debt Factoring the value of the debt into the final purchase price What people overlook in determining the value of a business What buyers can do if they don’t want to inherit existing debt Why it’s challenging to make assumptions as advisors   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.

Sean Pastuch is the founder and CEO of the company Active Life, the self-described bridge between healthcare and fitness. Sean conceived Active Life out of the need to innovate the current medical model by incorporating an emotional approach to pain management. He earned a degree in Chiropractic Care from Northeast College of Health Sciences and has worked for various fitness organizations, including CrossFit. Sean is also a coach educator to athletes and has extensive experience working in strength conditioning and physical rehabilitation.   Sean joins me today to describe why the fitness industry alienates those who aren’t at peak health despite claiming to be inclusive. He shares how Active Life helps those who feel bullied by the fitness industry and highlights the projects they will focus on in the coming months. He defines financial freedom and explains how fatherhood taught him about controlling emotions and much more. Sean also describes why saying “my team” isn’t as inclusive as it sounds.   “Everyone needs a different level and tone of communication; you have to ask the questions to get the answers. You can’t just make the assumptions.” - Sean Pastuch   This week on the Expensive Advice Podcast:   The origin of Sean’s last name The bullies Sean sees across various industries Why Sean started Active Life and the people he wants to help The team elements of one-on-one sports Projects Active Life will commit to in the future How team sports compare to business and parenting Gym membership statistics and the average joining age Helping gym goers who are 40 years old and up Sean’s definition of financial freedom and his vision What Sean learned from being a father Why you should stop saying “my team” How Sean documented their company culture Sean’s experience working with our team   Connect with Sean Pastuch:   Active Life Sean Pastuch 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.

EA028 - Creating Executable Plans for Your Business   When we are trying to achieve any goal, we need to go through a planning phase. Whether the goal is to add a new revenue stream, launch a new product or service, or develop a new marketing campaign, strategic planning is the key to success. But there is a difference between planning effectively and theoretically—and the former is significantly more impactful than the latter.   This week, I discuss the difference between effective planning and theoretical planning. I explain why the best plan is the one that can be executed and why theoretical planning rarely helps us to achieve our goals. I reveal why it’s impossible to consistently create successful plans and how sometimes, business owners and executive leaders focus on the wrong aspects of planning for their businesses. I also underscore the key aspects to consider to determine if your plan is easily executable.   “The plan that can be executed is always going to be more successful than some theoretical plan.” - Adam Rundle   This week on the Expensive Advice Podcast:   Effective plans versus theoretical plans The challenges of consistently creating successful plans for your business The challenges associated with practical planning What to consider when creating an executable plan   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.

Every business owner must have a firm grasp of their company's earnings—be it monthly, quarterly, or annual. There are plenty of metrics you can use to determine your profits and losses, and among them is what we call Seller's Discretionary Earnings or SDE. What is Seller's Discretionary Earnings? How do you compute your company's SDE, and how reliable is it as a measurement of earnings?   Matt and Jean-Luc join me today to break down Seller's Discretionary Earnings and their purpose in business valuations. They share similar metrics accountants and advisors use in valuations and what makes SDE unique. They explain the best time to use SDE and the key differences between taxes and valuations. Matt and Jean-Luc also describe an experience with a client who put jewelry as part of business expenses.   “Seller’s Discretionary Earnings seeks to add back all owner’s benefits and compensations.” - Matt Smith   This week on the Expensive Advice Podcast:   Why SDE is more important the smaller a company is Normalized Earnings and its importance to investors The difference between Normalization and SDE The right time to use SDE over other financial metrics What EBITDA is and its importance Our advisory team’s experience valuing client finances The difference between taxes and valuations   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.

Adrienne Richardson owns Powerplay Media, a digital marketing company specializing in Facebook and Instagram ad optimization for business growth. Due to her lead generation expertise, her clients have generated over $50 million in new revenue over the past eight years. Before becoming an entrepreneur, Adrienne served in the Air Force as a paramedic from 1995 to 2002. She later graduated magna cum laude from Rowan University with a degree in Public Relations.   Adrienne joins me today to explain how she got started in digital marketing and what made her pursue a career specializing in Facebook and Instagram. She reveals why she’s not in a hurry to include other social media sites as part of her services. She describes the women who inspired her to become a digital marketing specialist. She discusses the value of being niche in any industry. Adrienne also shares what it was like being an entrepreneur and a mother to a newborn.   "The skillset and natural abilities I have—I didn't know they would translate into what I'm doing now in this way." - Adrienne Richardson   This week on the Expensive Advice Podcast:   How Adrienne got started in digital marketing Adrienne's experience in the military and what she learned Adrienne's struggles with raising a child and finding work How Adrienne learned from Facebook ads What Adrienne hopes to accomplish soon Adrienne's strategy for using social media like Facebook What Adrienne would change if she had to do it all over again Why Adrienne hesitates using other social media sites The value of being niche in the digital marketing space Adrienne's thoughts on being a mother and a business owner   Resources Mentioned:   Sandy Digital Marketing Codie Sanchez   Connect with Adrienne Richardson:   Powerplay Media Adrienne Richardson 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.

Buying or selling companies can be complicated, but it all boils down to two primary transactions: stock sale and asset sale. Both have their fair share of pros and cons, but when is it better to buy and sell one over the other? What risks should be considered from a buyer’s perspective? What would benefit the seller the most? What would make both parties mutually benefit from the transaction?   Matt and Jean-Luc from our Advisory Team join us today to explain the benefits and drawbacks of making a stock sale versus an asset sale. They share the best time to make either sale and what buyers and sellers should consider regarding liability and taxes. They discuss the causes of a transaction falling through and how to avoid them. Matt and Jean-Luc also underscore why you should always prioritize what you want out of the deal, whether it’s a stock or asset sale.   "You should do the deal based on what you want to buy or sell. The main focus of the deal shouldn't be stock or asset, but a byproduct of what you want to get out of the process." - Jean-Luc Johnstone   This week on the Expensive Advice Podcast:   The difference between stock and asset sales When it makes more sense to buy stocks over assets and vice versa Why a stock sale is better for both the buyer and the seller What to consider for a stock or asset sale Avoiding liability through an asset deal How taxes are handled in stock and asset sales The importance of having a legal team involved The causes of a deal falling through   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.

Patrick Campbell is an entrepreneur as well as the Founder of ProfitWell, a company that provides business intelligence solutions that boost retention and monetization automatically through subscription financial metrics. He has extensive experience in pricing strategy, analysis, and online marketing. Before starting ProfitWell, Patrick was an economist at Google and the US Intelligence community. He also led Gemvara’s Strategic Initiatives.   Patrick joins me today to explain how to find your mission in life as a person and entrepreneur. He shares how ProfitWell helps grow client businesses automatically. He discusses the late Queen’s passing and the opportunities he saw while watching the live coverage. He underscores the importance of building a morning routine and its purpose. Patrick also describes the insecurities entrepreneurs experience and what he does to overcome them.   "Without a mission in life, what the hell are we doing?" - Patrick Campbell   This week on the Expensive Advice Podcast:   How ProfitWell helps companies grow automatically Patrick's thoughts on recent events and the opportunities he saw Why Patrick doesn't talk about company transitions Finding purpose by having a mission in life The opportunity difference between South Africa and the United States Patrick's daily routine and why he sticks to it How you can control where your attention goes The insecurity entrepreneurs experience   Resources Mentioned:   Documentary: Jiro Dreams of Sushi   Connect with Patrick Campbell:   ProfitWell Patrick Campbell on LinkedIn Patrick Campbell on Twitter   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 we

Megan Bowen is the Chief Operating Officer at Refine Labs, a demand accelerator for B2B SaaS companies. She describes herself as a problem solver, customer advocate, and operator with an extensive record of building and leading teams to success. As COO, her leadership style revolves around team empowerment and accountability while creating a culture of vulnerability, kindness, and empathy. Megan is also the co-host of the podcast, Talent Destination, which explores the hidden art of building the kind of company your team will love.    Megan joins me today to describe her role as COO and how she and CEO Chris Walker work to optimize Refine Labs from the inside out. She explains her leadership style and how she complements Chris. She discusses team building and how leaders can ensure each member can have a say in the direction the company is heading. She shares why hybrid work is more challenging to apply than fully remote work. Megan also describes what’s in store for Refine Labs and herself in the future.   “When you’re disappointed and your expectation is not met, ask yourself ‘did I ever clearly communicate this to the other person?’” - Megan Bowen   This week on the Expensive Advice Podcast: Megan’s career, accolades, and how the pandemic led her to join Refine Labs Megan’s leadership style Megan’s philosophies on building a company How the COO can complement the CEO’s talents Getting the team to not depend solely on their leader for direction Establishing proper communication during conflicts Megan’s advice for when a team member disappoints Why hybrid work is more challenging to manage than remote Why Megan wanted to team up with Chris from the beginning What the future looks like for Megan and Refine Labs   Resources Mentioned:   Using LinkedIn Beyond Recruitment and Content Creation with Chris Walker   Connect with Megan Bowen:   Refine Labs Podcast: Talent Destination Megan Bowen on LinkedIn Refine Labs On YouTube   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.

Kyle Clements is the founder and CEO of Quipli, a SaaS company that offers software for the rental market. Their software allows independent rental companies to receive payments, manage inventory, and accept customer orders. Kyle holds a Master of Science degree in Commerce: Financial Services from the University of Virginia. Before founding Quipli, Kyle was the Senior Strategic Operations Manager at Uber.   Kyle joins me today to describe the importance of appreciating the present and your entrepreneurial journey. He shares the common traits he sees in people with leadership potential. He explains how Quipli’s marketing strategy is built on honesty and vulnerability. He discusses why he prefers to work fully remotely. Kyle also reveals the lessons he learned as a leader and why we’re now living in the “good old days.”   "I think that's what really matters; it's about the process and the journey." - Kyle Clements   This week on the Expensive Advice Podcast: Kyle's professional experience and how long we've known each other The character traits that pave the way for leadership What Kyle learned as an entrepreneur and business leader The company's marketing strategy and how it's built on honesty and vulnerability The potential challenge of not being a technical founder Viewing milestones as new starting points How to know you're in the "good old days" Why Kyle prefers being a "remote company" for a long time Connect with Kyle Clements: Quipli Next Gen Venture Partners Kyle Clements 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.

Creating The Right Terms for Commission Structures One of the most effective ways to expedite growth is having a commission structure for employees or agents. Commissions allow people to go the extra mile and get more leads or better contracts, ultimately letting the company earn higher profits. What should you consider when writing a commission structure? And when is it the right time to promote profit-sharing and equity over commissions? In this episode, Matt Smith and Jean-Luc Johnstone share their thoughts on the pros and cons of commission-based work. They explain how owners can ensure a balanced commission structure for both agent/employee and the business. They explain how to create a tiered structure and establish attainable KPIs. They discuss the differences between commissions, profit-sharing, and equity, and explain when to use one over the others. We also discuss the importance of testing your incentive structures and the best way to go about it.   "Too low commission doesn't encourage growth; too high leads to lower job security." - Matt Smith   This week on the Expensive Advice Podcast: Discussing commissions with your agents or employees Can employees rely on discretionary bonuses? The importance of making your KPIs clear, achievable, and measurable Getting the right balance in commission structures Establishing a tiered structure for commissions When to start a profit-sharing incentive contract The difference between commissions and profit sharing The best way to test your incentive structures Mechanisms you can use to transfer equity When to use "Phantom Shares" as profit-sharing incentives   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.

Missy Livingston is the Owner of Twisted Wares, an adult gifts maker that applies pun-intended phrases, jokes, and witty graphics on otherwise everyday, practical, and functional household items. They sell everything from towels and tote bags to car air fresheners, notepads, and coasters. Before starting Twisted Wares, Missing was a realtor who was on a path to success in the early 2000s until the recession of 2008. She learned about Etsy and the opportunity to start a sewn manufacturing business. Missy’s first product was what she now calls the Hang Tight Towels, a towel designed to stay put without snaps, Velcro, or buttons. Missy joins me to describe how Twisted Wares started and why towels were her first products. She shares her professional experience before the 2008 recession and how their family coped with the loss of their real estate business. She explains the events that led her to become an entrepreneur on Etsy and how she learned to scale her sewn manufacturing business. Missy also discusses why she dreams of selling her business, the value of asking ridiculous questions, and what’s next for Twisted Wares.   "I always expect a ‘no’ when I ask something outrageous. But there’s nothing wrong with: ‘why is it a no? Can I help solve that problem for you so that you can give me a ‘yes?’" - Missy Livingston   This week on the Expensive Advice Podcast: Missy's real estate background and why she pursued it in the past How the 2008 recession affected her family's finances and business Why there are a lot of opportunities in America if you're just open to them How success looks to Missy today compared to when she was a realtor What started Missy's Etsy career The challenges of having a sewn manufacturing business online Why Missy recommends asking the ridiculous questions How successful Missy's towel business is today What's in the pipeline for Missy Why Missy wants to sell her towel business   Resources Mentioned: Book: The Entrepreneur's Guide to Sewn Product Manufacturing by Kathleen Fasanella   Connect with Missy Livingston: Twisted Wares Twisted Wares on Instagram Missy Livingston 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.

Raising capital is a balancing act. On the one hand, you receive funding that can expedite growth. Conversely, you lose equity and risk losing your company if you don’t play your cards right. What should business owners understand about raising startup money? What are the investor expectations if they help you jumpstart a product or service?    CleverProfit’s Matt Smith and Jean-Luc “JL” Johnstone share their take on raising capital and making investors happy. We discuss what it means for your business if investors pour money into it and explain the different rounds of fundraising. We discuss what S.A.F.E. Notes are and their risks and advantages. We describe the difference between bootstrapping and fundraising and what you can learn from both. Matt and Jean-Luc also share their takes on the economy, where we’re heading, and the fundraising challenges many startup businesses are encountering in the post-pandemic world.   "The more money you have, the faster you can grow." - Jean-Luc Johnstone   This week on the Expensive Advice Podcast: Why a small business would need more capital The various rounds of fundraising What a S.A.F.E. Note is and its advantages for startups The risk of S.A.F.E. Notes for investors The process of the seed and pre-seed rounds The different "series" involved in funding What startups should remember when raising capital Running your business vs raising capital The primary downside to fundraising The key difference between bootstrapping and fundraising What you can learn from bootstrapping and fundraising What our Advisory Team thinks about the current state of the economy Why we're seeing more companies struggle to raise funds 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.