Ep 282 Profitable But Worthless? How to Build a Business Buyers Actually Want with Justin Goodbread

Profitable But Worthless? How to Build a Business Buyers Actually Want with Justin Goodbread

 

Why High Profit ≠ High Value—And How That Mistake Could Cost You Millions

 

Most business owners are chasing profit…

But what if the very thing you’re chasing is keeping you trapped?

 

Imagine this: You’re running a “successful” business with strong margins and great income. You’re paying yourself well, your spouse is on payroll, and life feels comfortable.

 

Until the day you try to sell… and no one wants to buy.

 

This episode of Profit Answer Man reveals the dangerous trap most entrepreneurs fall into: confusing a profitable lifestyle business with a valuable one. Justin Goodbread—who scaled and sold multiple 7-, 8-, and 9-figure companies—breaks down the hard truth behind “ugly babies” (a.k.a. unsellable businesses) and how to turn yours into a cash-rich, investor-ready machine.

 

In This Episode, You’ll Learn:

• Why profit doesn’t always equal enterprise value (and what to focus on instead).
• The 8 core areas of a business that drive value (and where most owners get stuck).
• How to move from being the business to owning the business.
• The mindset shift that changed Justin’s net worth trajectory forever.
• Why laser focus, not more hustle, is the real multiplier.

 

Key Takeaways (AKA Profit-Killing Blind Spots):

• Mistake #1: Believing high profit = high exit value. Investors don’t buy income streams—they buy systems.
• Mistake #2: Staying at the center of everything. If your business wobbles when you step away, it’s not a business. It’s a job with a title.
• Mistake #3: Failing to define your ideal client. Serving everyone = attracting no one (and commoditizing your brilliance).
• Mistake #4: Reinventing the wheel. Frameworks like Profit First, EOS, and Justin’s value-growth model already exist—use them.
• Mistake #5: Not taking the hard vacation. If your team can’t survive six weeks without you, your valuation will reflect that.

 

Guest Bio:

Justin Goodbread is a globally recognized business strategist, bestselling author, and founder of multiple ventures focused on helping service-based businesses maximize enterprise value. With 30+ years of entrepreneurial grit—including exits at the 7-, 8-, and 9-figure levels—Justin has worked with thousands of owners to turn profitable chaos into scalable, transferable wealth.

 

Whether he's simplifying complex business systems or calling out the lies owners tell themselves, Justin is known for his no-nonsense, deeply practical insights that get results. His bestselling book, Your Baby’s Ugly, challenges owners to look at their business through the eyes of a buyer—and transform it into an asset worth paying for.

 

Links:

Websites:

• Official Website: https://www.justingoodbread.com/
• Freedom Formula: https://www.masteringvaluegrowth.com/freedom-formula
• The Value Growth Academy: https://thevaluegrowthacademy.com/

 

Media Profile/Bio:

• Justin's Media Profile: https://podfol.io/profile/justin-goodbread

 

Social Media Channels: 

• LinkedIn: https://www.linkedin.com/in/justingoodbread/
• Twitter: https://x.com/justingoodbread
• YouTube: https://www.youtube.com/@justingoodbread
• Instagram: https://www.instagram.com/justingoodbread/
• Facebook: https://web.facebook.com/justingoodbread

 

Conclusion: Is Your Business Valuable—or Just Profitable?

Profit is a great starting point… but it’s not the finish line.

If your wealth is locked inside a business that can’t run without you, it’s time to ask the hard question:

 

👉 Would anyone pay top dollar for what you’ve built?

 

If you’re not sure—or if your gut says “probably not”—this episode is your wake-up call. Listen now and explore where your real profit leaks and blind spots might be.

 

🎧 Listen to the full episode and start building a business that can run, grow, and sell—without you.

 

#ProfitFirst #BusinessGrowth #CashFlowFix #SmartScaling #RevenueLeaks #ProfitClarity #OwnerPay #StrategicFinance

 

Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman

Sign up to be notified when the next cohort of the Profit First Experience Course is available!

Profit First Toolkit: https://lp.profitcomesfirst.com/landing-page-page 

Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst

Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/

My podcast about living a richer more meaningful life: http://richersoul.com/

Music provided by Junan from Junan Podcast

Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

#profitfirst