Mark Willis is a CERTIFIED FINANCIAL PLANNER™, a three-time #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. As co-host of the Not Your Average Financial Podcast™, he shares some of his strategies for investing in real estate, paying for college without going broke, and creating an income in retirement you will not outlive.  Mark works with people who want to grow their wealth in ways that are safe and predictable, to become their own source of financing, and create tax-free income in retirement.  Book “How to be an Amazon Legend and Fire Your Banker.”

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> Here’s a glimpse of what you would learn…. 

• Introduction to the podcast's mission and focus on e-commerce business leaders.
• Mark Willis's background and experience with business owners and e-commerce entrepreneurs.
• Common financing challenges faced by e-commerce businesses, particularly reliance on banks.
• Overview of Mark's book, "How to Be an Amazon Legend and Fire Your Banker."
• Concept of using dividend-paying whole life insurance as a financial strategy.
• Importance of having control over personal finances and becoming one's own source of financing.
• Discussion of non-direct recognition policy loans and their benefits.
• Comparison of whole life insurance policies to home equity lines of credit.
• Tax strategies that can complement the use of whole life insurance policies.
• Actionable takeaways for e-commerce entrepreneurs to enhance financial management and independence.

In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley interviews Mark Willis, a certified financial planner and owner of Lake Growth Financial Services. They discuss financial strategies for e-commerce entrepreneurs aiming to scale their businesses. Key topics include overcoming reliance on traditional banks, using dividend-paying whole life insurance as a financing tool, and implementing effective tax strategies. Mark shares insights from his book, "How to Be an Amazon Legend and Fire Your Banker," emphasizing the importance of financial control and independence. The episode provides actionable advice to help business owners manage capital and achieve greater financial security.

Here are the 3 action items that Josh identified from this episode:

Action Item #1: Invest in the Right Places: Business owners should ensure they are putting their money into vehicles that will grow and provide liquidity when needed.

Action Item #2: Implement Tax-Saving Strategies: It's crucial to work with a certified financial planner to identify and implement effective tax strategies.

Action Item #3: Execute Financial Strategies: Taking action is essential; business owners should not just learn about strategies but also implement them to see real results.

Resources mentioned in this episode:

• Lake Growth Financial Services

• FAFSA

• Augusta Rule

• Future Tools

• Kickstart with Mark

• How to Be an Amazon Legend and Fire Your Banker

• Debt: The First 5,000 Years

• The Holy Bible

• The Lord of the Rings

• Not Your Average Financial Podcast

Special Mention(s):

• Adam “Heist” Runquist on LinkedIn
• Kevin King on LinkedIn
• Michael E. Gerber on LinkedIn

Related Episode(s):

• “Cracking the Amazon Code: Learn From Adam Heist’s Brand Scaling Secrets” on the eComm Breakthrough Podcast
• “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” on the eComm Breakthrough Podcast
• “Unlocking Entrepreneurial Greatness | Insider Secrets With E-myth Author Michael Gerber” on the eComm Breakthrough Podcast

Episode Sponsor

Sponsor for this episode...

This episode is brought to you by eComm Breakthrough Consulting where I help seven-figure e-commerce owners grow to eight figures. 

I started my business in 2015 and grew it to an eight-figure brand in seven years.

I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.

If you’ve hit a plateau and want to know the next steps to take your business to the next level, then email me at [email protected] and in your subject line say “strategy audit” for the chance to win a $10,000 comprehensive business strategy audit at no cost!

Transcript Area

Josh Hadley 00:00:00  Welcome to the Ecomm Breakthrough podcast. I'm your host, Josh Hadley, where I interview the top business leaders in e-commerce. Past guests include Kevin King, Michael Gerber, author of The E-myth, and Matt Clark from ASM. Today, I'm speaking with Mark Willis of Lake Growth Financial Services, and we're going to be talking a lot about how you can bank on yourself and become your own source of financing in your business. This episode is brought to you by Ecomm Breakthrough, where I specialize in investing in and scaling seven figure companies to eight figures and beyond. If you're an ambitious e-commerce entrepreneur looking for a partner who can help take your business to the next level, my team and I bring hands on experien...