DecaMillionaire Decoded

Whether you realize it or not, we are all playing the Wealth Game. Some never get off first base; others sprint and find themselves in second base; a lucky few reach third base. However, no matter where you are in the game of wealth, you must finish the game and reach the home plate of your financial life. So, what does winning the Wealth Game look like and how do you get there? In this episode, I discuss why it’s important to finish the wealth game by reaching home plate and outline how to get there. I enumerate the three characteristics of people who have reached home plate. I share the financial tools you can leverage as you generate wealth—including life and disability insurance—and explain why the IRC is the single greatest wealth generation tool in America. I also highlight the value of working with coaches and financial advisors.   “The game of wealth is plausible. You can reach home plate. Run as fast as you can, and listen to your coach.” - Justin Goodbread   This week on the Financially Simple Experience: What winning the Wealth Game looks like How you know you’ve reached home plate The three characteristics of people who reach home plate Teaching others financial literacy The books and people who taught me about the principles of wealth and financial literacy The definition of generational wealth Financial tools to leverage as you generate wealth The value of working with coaches and financial advisors   Resources Mentioned: Book: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki Book: The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey Book: Financial Peace: Restoring Financial Hope to You and Your Family by Dave Ramsey   Our Favorite Quotes: “The game of wealth isn’t about creating money, but creating wealth so we can reach home plate and bless others.” - Justin Goodbread “This is what I notice about people who have reached home plate: it no longer becomes about them. They take care of their families and then they become generous by setting up foundations.” - Justin Goodbread “The people who win the game of wealth understand the importance of one thing: the importance of having a coach to lay out their plan and hold them accountable to reach their goals.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you’ve reached third base in the Wealth Game, congratulations! You more than likely have achieved your financial goals. You know, without a shadow of a doubt, that you and your family are financially secure and that you can meet your goals, whatever they are. At this point of the Wealth Game, you might think that that’s it—you’ve won. But the game is not over yet. Your journey is not complete until you make it to home plate. In this episode, I discuss the trap of third base. I describe what it feels like to be on third base and why you can’t stay there. I explain why money shouldn’t be your focus when playing the Wealth Game, what you should aim for, and the Rule of 4%. I also highlight why money is only a tool and underscore how a team of advisors can help you successfully win your journey to home plate.   “As you stand on third base you need to start thinking outside of your own needs, for money is no more than a tool to meet our needs and to bless others.” - Justin Goodbread   This week on the Financially Simple Experience: What reaching third base feels like and why you can’t stay there The Rule of 4% The value of having financial advisors at third base Why money shouldn’t be the focus of the Wealth Game “The Sandcastle Effect” and how to avoid it   Our Favorite Quotes: “Life’s not about getting all you can, canning all you get, and sitting on your can. The same thing is true about money.” - Justin Goodbread “If you’re reaching third base, now is the time to meet with your advisors and develop a plan so you can make your wealth last and use it to bless others.” - Justin Goodbread “At this point in the game, your advisors and your team become invaluable to continuing the growth of your wealth so you can finish the wealth game.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”). This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

In baseball, moving to third base is a natural progression: you hit the ball, turn first base and run to second, then move to third. Of course, you wouldn’t stand idly on second base if you wanted to win—the same is true for the Wealth Game. At the second base of the Wealth Game, you might consider yourself successful. You’re living within a budget; your income is sustained and stable;  you’re making regular contributions to your retirement plan; maybe you have a business you’re expanding. But don’t stop just yet—it’s time to move to third base. In this episode, I discuss the transition from second to third base and how it differs from the previous moves. I explain how you can calculate your net worth to assess whether you’re ready to move to third base. I also reveal the secret sauce to accumulating wealth and describe how to make your assets support the lifestyle you want to live. “The goal of the third base is to go where our assets provide us with enough income to cover the cost of our lifestyle.” - Justin Goodbread This week on the Financially Simple Experience: How to know if you’re ready to move from second to third base How the move from second to third base differs from the move between first and second The Millionaire Next Door Calculation Gap and the power of compounding interest Using your income increase to expedite your transition from second to third base Our Favorite Quotes: “Compounding interest is the secret sauce to making your track easier to the third base and providing you the income that you need.” - Justin Goodbread “As your income increases, allow the spread of your lifestyle and earnings. If you can increase your investment and take your surplus over your lifestyle to magnify the speed at which you move from second to third, it’s a win-win.” - Justin Goodbread “Shift your mind away from reliance on income—the job that you have, and the business you sacrifice so much for—and move into the assets you’re accumulating.” - Justin Goodbread 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. If you have questions or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. 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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

Where are you right now in your journey through the wealth game? Do you have savings or emergency funds? Are you investing in your future? Do you have a 401k? Have you started your own business? If you have, congratulations, you’re in second base! As we continue our journey through the wealth game, we want to begin saving, investing, and accumulating assets while we cast our eyes to third base. Yet—just as the run from first to second was difficult—the run from second to third can be arduous. So, how can you get there?   In this episode, I outline how to move from second to third base in the game of wealth. I define the Prestigious Accumulator of Wealth category and explain how you can get there. I describe why entrepreneurs should build assets inside and outside their businesses. I also highlight the role of coaches in playing the game of wealth and underscore why staying the course to third base is worth it.   “Those of us who make prudent investments, who make wise decisions, who keep the targeted mind—those of us who focus on that intensity—reach third base.” - Justin Goodbread   This week on the Financially Simple Experience:   Reaching second base and beginning to invest in your future How to calculate your net worth The Prestigious Accumulator of Wealth category Why business owners should pull their businesses out of their net worth statement How owning a business can quickly propel you to third base The importance of building a portfolio of assets inside and outside your business   Resources Mentioned:   Book: The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas Stanley   Our Favorite Quotes:   “Stay the course. If you find it hard to guard yourself against the naysayers in your world, find an advisor or coach that can encourage, push, and strengthen you.” - Justin Goodbread “We need coaches, no matter where we are in the game of wealth.” - Justin Goodbread “Moving from second to third base is tough. The reality is we’ll spend decades of our lives there, but it’s worth it. Keep the journey—stay focused.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

There are so many traps along the way of the Wealth Game that could keep you from achieving financial independence. Emotions, financial habits, and lifestyle choices can all tie us down to the Wealth Game’s first base and prevent us from moving to second—yet, it is not impossible. Those of us who aspire to move beyond first base have to figure out what it takes to reach second base: the stage of asset accumulation. In this episode, I discuss how we can steal second base in the Wealth Game. I explain what lifestyle creeps are and why so many people get stuck in first base. I differentiate appreciating from depreciating assets and enumerate the many ways individuals can accumulate assets. I also highlight the importance of budgeting, discuss how budgeting can liberate our financial lives, and underscore how you can begin efficiently building and accumulating assets.   “In playing the game of wealth, what we’re truly after is something that appreciates in value. Otherwise, we won’t get much of a lead-off from first base.” - Justin Goodbread   This week on the Financially Simple Experience: A recap on home plate and first base of the Wealth Game Lifestyle creeps and the trappings of first base Understanding the power of compound interest The statistics on savings and retirement funds What the second base represents in the Wealth Game What an asset is and the differences between appreciating and depreciating assets Some examples of assets that we can grow in value Getting started in building assets that help us gain financial independence What I love about employer-sponsored retirement plans Capitalizing on the cryptocurrency buzz The importance of creating budgets and paying yourself first   Resources Mentioned: Book: The Richest Man in Babylon by George Clason   Our Favorite Quotes: “If we could teach the power of compounding interest to our children, the youth, and those whom we mentor and have the privilege to serve, we could change the narrative.” - Justin Goodbread “Nothing in life is free. If it doesn’t cost you money, it costs you time and emotions.” - Justin Goodbread “Look where you’re headed. Have a strategy, a plan, and a coach, or you’ll get stuck on first base.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

I vividly remember playing baseball while I was growing up. I remember hitting the ball, running the bases, and hearing the fans go crazy. And, of course, there’s my dad on the sideline, jumping up and down, pumping his chest like a peacock, and shouting that he’s proud of me. The wealth game can have the same effects on our lives if we play it correctly—moving from home plate to first base, then setting our eyes to second. In this episode, I discuss what it takes to move from home plate to first base. I describe the first base of the wealth game. I explain why many people get trapped in this first stage and outline how to avoid it. I discuss what a “lead-off” means in baseball and how it applies to the game of wealth. I also underscore the power of our aspirations.   “The game of wealth is super easy. Turn at first base and look at second; keep the destination in mind; don’t get sidetracked by the allures of a company. Focus on what matters most: second base.” - Justin Goodbread   This week on the Financially Simple Experience: The inequality of life and the goal of the first base of the wealth game How lifestyle choices can get people trapped in first base Avoiding the trappings of the first base and the value of getting a coach What a “lead-off” means in baseball Taking a lead-off from the wealth game’s first base Reviewing the rules of the wealth game   Resources Mentioned: Book: Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom by Robert Kiyosaki   Our Favorite Quotes: “In the game of wealth, our desire is to turn first base and head towards second as rapidly as possible.” - Justin Goodbread “It doesn’t matter what income you make–what matters are your aspirations and visions.” - Justin Goodbread “The lifestyles we choose at first base is the single detriment, the single deterrent, the single determinant for us reaching second base.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher   Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast. 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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

What is wealth to you? Is it happy relationships with friends and family? Or, like Virgil, do you think that wealth is health? What about financial wealth? For so many people, the idea of financial wealth is something mystical—something that belongs to fantasy. But I genuinely believe that wealth is a game and, if we can teach people how to play it, it can be easier, less intimidating, and more enjoyable. In this episode, I discuss the wealth game and explain its rules. I define financial independence and describe the different kinds of wealth. I also outline the different stages of financial wealth and underscore why your attitude toward money can affect your wealth.   “Money is no more than a magnifier of your true character.” - Justin Goodbread   This week on the Financially Simple Experience: What wealth is and the different aspects of life it entails The rules of the wealth game Defining financial independence The baseball diamond and the different bases of financial wealth How your attitude toward money can affect wealth   Our Favorite Quotes: “No amount of money is worth losing yourself. The moment you make this game of wealth about money, you’ve lost the game.” - Justin Goodbread “Being financially independent means allowing your hard work and all your blessings—everything that has culminated at this point—to not just provide for yourself but also bless others.” - Justin Goodbread “It’s a privilege for us to work: a blessing to be able to toil so we can get paid—an honest day's work for an honest day’s pay.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

The role of video in our everyday lives has become more and more prominent. In fact, Business Insider has observed an unprecedented growth in digital video viewership between 2019 and 2020. Yet, despite this rapid increase in viewers, we small business owners don’t really tap into the power of video in marketing. I believe that if we took the time and energy to create video-based assets for marketing our businesses, we could drastically increase their value. In this episode, I discuss the power of video in marketing. I share statistics on the growing demand for video as well as the increasing viewership brought about by the pandemic. I discuss why video marketing doesn’t have to be expensive and is feasible with just your smartphone. I also highlight how video marketing has helped us get quality leads and underscore why video facilitates a more connected form of communication.   “Companies who use video to improve their business increase their sales, brand awareness, retention rate, and social capital, and drive their greatest client to their door.” - Justin Goodbread   This week on the Financially Simple Experience: The power and importance of video marketing How COVID-19 impacted the rapid increase of video viewership Why creating videos for marketing doesn’t have to be expensive  How the service sectors can make use of video marketing for their business Why creating how-to videos can help grow your market How using videos can help in lead generation Incorporating the power of video into your business   Our Favorite Quotes: “By getting into the regular habit of sharing what you do in business with your followers, you create an unbelievable return on investment.” - Justin Goodbread “The minute we started making videos, we started seeing our engagement and the quality of our leads become more impactful.” - Justin Goodbread “Video allows us to be more involved and intimate. It allows facial recognition, nonverbal communication, tone, and inflection—so much more than just audio alone or just the static picture.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

If you’re like me, you spent 90% of your time speaking face-to-face and engaging with clients and groups of people before Covid-19. When the pandemic hit, my world changed. I, like many business owners, had to transition from doing in-person communication to interacting with clients and other people through the phone or video conferencing. But if a business owner isn’t using all the video capabilities an app has, they’re missing out on the true power of video and visual communication. In this episode, I discuss how the pandemic has impacted the use of video conferencing for business. I describe how I did most of my communication before the pandemic and outline the advantages of phone calls. I highlight how video calls can provide a more personal experience and improve information retention and focus when conferencing. I also underscore how visual communication can help us tell stories.   “We use video to tell a story—we are in an animated world and our eyes are used to moving objects.” - Justin Goodbread   This week on the Financially Simple Experience: One of my all-time favorite movies How Covid-19 changed my world and my pivot to online video conferencing  The advantages of using phone calls for quick communication How Covid-19 increased the use of video-based communication How video conferencing helps participants to stay engaged Why visual communication is highly effective in supporting memory and information retention   Resources Mentioned: ChangingMinds.org   Our Favorite Quotes: “We’re able to recall, through visual effects, with 65% greater accuracy; that’s why it’s important to have the videos turned on when conferencing.” - Justin Goodbread “Sometimes a quick phone call or a text message is all we need; but when you need to touch base on several topics, video conferencing is your best option.” - Justin Goodbread “Face-to-face meetings are the best options, where we use all our senses. But in today’s fast-paced world, go with the more personal conferencing with all the video capabilities on.” - Justin Goodbread   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.

David DeCelle is the President of Model FA, a community for financial advisors to come together to learn about sales, marketing, and business development from experts and other financial advisors. David and his team at Model FA are dedicated to empowering financial advisors by helping them build the practice that they envision. Before becoming President of Model FA, David was a financial advisor himself and served as the Director and Financial Advisor for Northwestern Mutual. David joins us today to share his perspective on me as a business owner and my businesses. He discusses the different reasons individuals hire business coaches and explains how having a 1-year vision could be more beneficial than having longer-term goals. He offers advice to entrepreneurs who are experiencing difficulties in life. He also describes his journey as a financial advisor and what he learned from it, as well as the importance of keeping an open mind.   “Regardless of someone’s age, revenue, or personal income—or how buttoned up their business is—if you can suppress your ego and have an open mind, you can learn anything from anyone.” - David DeCelle   This week on the Financially Simple Experience: The Model FA company and the advantages of hiring business coaches as thinking partners The reasons people hire business coaches Why David recommends envisioning goals in a 12-month timeframe David’s advice for business owners wrestling with difficult emotions His observations on my biggest struggles as a business owner Why business owners need to onboard their employees when transitioning their organizations David’s journey as a financial advisor   Our Favorite Quotes: “If we sit back every morning and write down the things we’ve been blessed with, we’ll never finish that list because we’re indeed blessed as humans.” - Justin Goodbread “Every good business owner has an excellent team behind them.” - Justin Goodbread “When you handle conflict directly and with grace, it can shake out for the better.” - David DeCelle   Connect with David DeCelle: Model FA The Model FA Podcast Model FA on LinkedIn Model FA on Instagram David DeCelle on LinkedIn David DeCelle on Instagram   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.  If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher Let us know your thoughts about the show - please leave a review on iTunes to help others discover the podcast.   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”).   This podcast is distributed for informational purposes only. 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 WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.