DecaMillionaire Decoded Jonathan Mills Patrick Interview - Startups & Funding
In this episode, Justin interviews Johnathan Mills Patrick, a former banking executive, financial advisor, and 3x startup founder
Jonathan Mills Patrick has worked in many fields pertaining to Business development, from banking to finance, consultant to mentor. He has had three startup businesses of his own and has learned from each experience and written several books on the subjects of his expertise. Justin chats with Jonathan about what it takes to start a business, how to get funding, and shares some of his experiences.
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ARTICLE TRANSCRIPT:
BLOG: Investor vs. Bank Loan... Which is the Best Source of Startup Capital?
00:30 - Jonathan Mills Patrick
02:29 - How Can Startups Find Funding?
07:49 - How to Make a Business Come to Fruition?
09:04 - How to Get Lending for a Lifestyle Business?
11:22 - Autonomous Businesses and Investors
13:43 - How Important are Projections & Can Bankers Identify Legitimate Projections?
16:42 - How to Build Up Bankability?
19:08 - What Is the SPA & How Can it Be Beneficial to Business Owners?
21:19 - When Shouldn’t a Business Owner Use the SPA?
23:00 - Should I Go into Business for Myself in the First Place?
29:05 - How to Self Assess
31:30 - Case Example
33:41 - Wrap Up
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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 multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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