The Wealth Without Wall Street Podcast

Building the Golden Goose of Wealth with Justin Goodbread

Feb 20, 2025

Justin Goodbread, a seasoned entrepreneur and deca-millionaire, shares insights from his 30 years of experience in building and selling businesses. He emphasizes the importance of creating a sellable asset and avoiding common pitfalls that lead to financial loss during exits. Listeners learn about forming a 'dream team' crucial for maximizing sale profits and uncovering ways to turn investments into cash-flowing entities. Goodbread also highlights the shift from an employee mindset to cultivating a passive income, encouraging actionable steps toward achieving financial independence.

34:21

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Episode guests

Justin Goodbread

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Episode notes

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Quick takeaways

Business owners must identify their target audience to enhance scalability and operational efficiency, avoiding the pitfalls of serving a broad customer base.

Recognizing a business as a wealth creation tool rather than a personal identity allows for more objective decision-making during transitions and sales.

Deep dives

Transitioning from Active to Passive Income

A key concept discussed is how business owners can effectively transition their active income into passive income streams. The passive income operating system was created to help delineate this process and clarify the steps needed for success. The idea emphasizes that many entrepreneurs often remain trapped in their own businesses, functioning merely as employees of their creations. By understanding and applying the system, individuals can move towards achieving financial independence and greater freedom in their personal lives.

Intro

1min

Navigating the Entrepreneurial Journey

15min

Navigating the Emotional Terrain of Business Sales

6min

Building Your Dream Team for Business Sale

10min

Connecting for Financial Freedom and Business Success

2min

Most business owners dream of financial freedom, but are they building a business they can actually sell? In this episode, Justin Goodbread joins Russ and Joey to discuss what it takes to scale a business, create passive income, and plan a profitable exit strategy.

Justin explains how to transform your business into a sellable asset, avoid the most common mistakes entrepreneurs make, and ensure you build wealth beyond your business.

Whether you're a current business owner or looking to buy and grow a business, today's conversation will provide game-changing insights to set you up for success.

Top three things you will learn:

-Why most business owners lose money when exiting and how to prevent it

-The key team you need to sell your business for maximum profit

-How to turn any investment into a cash-flowing business

About Our Guest:

With 30 years of experience building, growing, and selling businesses, Justin Goodbread achieved deca-millionaire status before the age of 40. Now, he dedicates his time to helping business owners create scalable, high-value companies while reclaiming their time and financial independence.

As a respected keynote speaker, bestselling author, and coach to top financial advisors, Justin provides the blueprint for scaling businesses to seven-, eight-, or nine-figure transferable values. Beyond coaching, he is a YouTube personality, podcast host, and dynamic educator who makes complex business strategies actionable and practical.

Connect with Justin Goodbread:

-Website - https://wealthwithoutwallstreet.com/justingoodbread

Free IBCA or Financial Freedom Discovery Calls:

-https://wealthwithoutwallstreet.com/freecall

The Art of Passive Income Podcast:

-https://www.youtube.com/playlist?list=PLgqpzGRlkzzF9aYUSs96e5GQmL6hRzg6T

Turn Active Income Into Passive Income:

-https://wealthwithoutwallstreet.com/pios

Wealth Without Wall Street New Book:

-https://wealthwithoutwallstreet.com/newbook

Join Our Next Inner Circle Live Event:

-https://www.wealthwithoutwallstreet.com/live