DecaMillionaire Decoded Is your RIA's Culture Preventing Your 8-Figure Exit?
As RIA owners, we often make the mistake of thinking that the only way to drive greater profitability is to cut costs. While managing expenses is certainly a factor, company culture is one of the greatest drivers of profitability.
In this episode, I explain how your RIA's culture could be the key to an eight-figure exit. I also look at some of the signs of a toxic company culture. Likewise, I'll discuss the importance of identifying the culture a buyer will want, and provide tips for changing a culture from the inside out. This week on The Financially Simple Podcast:
● (1:40) Defining Company Culture & its Impact on Your RIA
● (3:17) Culture in the Advisory Space
● (4:04) Firm Culture & What You Can Learn From Your Employees
● (6:55) Why Type of Culture Would the Buyer Want?
● (8:01) Culture Drives Profitability & Other Benefits
● (11:16) The Impact of Employee Recognition
● (11:50) Determining What Your Company Culture Is
● (12:40) Steps to Create A Winning Culture
Our Favorite Quotes:
"People need to feel good and have an environment that supports their ability to do their best work everyday." - Greg Friedman
"Everything rises and falls on leadership." - John Maxwell About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves 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. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
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