In this episode of the Control Your Cash Podcast, host Tim interviews John St. Pierre, author of 'The 100 Million Journey' and a coach to entrepreneurs. John shares his unique entrepreneurial journey, starting from his college days running a painting franchise, to building and eventually being fired from a $50 million sports business, which led him to successfully grow another venture to over $100 million. He discusses the significant lessons learned through his failures and successes and emphasizes the importance of self-reflection, strategic planning, and maintaining control of one's business financials. John also talks about the value of learning from others' experiences to avoid similar pitfalls and advises on having 'patient ambition' for building a business the right way. Additionally, John offers insights into his book and a free workbook with tools and templates for entrepreneurs seeking to navigate their business growth effectively.

Key Takeaways

Entrepreneurial Journey: 

• John St. Pierre shares his journey from being an entrepreneur in college to running his own painting company and then transitioning to other ventures in contracting and sports business.

Lessons from Failure: 

• John discusses the pivotal moment of being fired from his own company and the lessons he learned from that experience. He emphasizes the importance of self-reflection, learning from failures, and connecting personal life plans with business plans.

Cash Flow Management: 

• Both Tim and John stress the significance of managing cash flow effectively in business. They highlight the dangers of over-reliance on external financing and the importance of generating sufficient cash flow internally to fuel growth.

Patient Ambition: 

• John advises entrepreneurs to have "patient ambition," balancing ambitious goals with patience in building and growing their businesses. This approach prioritizes sustainable growth and resilience over rapid expansion at the cost of financial stability.

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 In this episode, Harlon Pickett joins us to discuss the evolution of the insurance industry over the past 20 years, emphasizing the shift from true risk-sharing to a system where everyone is considered sick due to regulatory changes like the Affordable Care Act (ACA). The conversation delves into the challenges faced by employers, physicians, and employees, highlighting issues such as rising costs, denial of services, and the disconnect between health insurance and actual healthcare. Harlan introduces alternative-funded health solutions, including direct primary care models, as a way to address these challenges and provide better access to high-quality healthcare while controlling costs. The episode underscores the importance of understanding the nuances of health insurance and exploring innovative approaches to improve the healthcare system for all stakeholders.

Key Takeaways

Removing Barriers to Healthcare:

• The conversation highlights the importance of removing barriers to healthcare access, including high costs of prescription drugs and limited access to preventative care.

Customized Healthcare Solutions:

• The discussion underscores the value of customized healthcare solutions that address the unique needs and preferences of employee groups, including options for holistic and alternative treatments.

Empowering Employees with Information:

• Access to quality healthcare information, including provider performance metrics, empowers employees to make informed decisions about their healthcare choices and encourages engagement in preventative care.

Collaborative Approach:

• Achieving meaningful change in healthcare requires collaboration between employers, employees, healthcare providers, and industry stakeholders to implement effective solutions and address systemic challenges.

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Join us in this episode of the Control Your Cash podcast as we delve into the journey of Scott Goodrich, a seasoned business consultant and entrepreneur. From the highs of the corporate world to the challenges of small business ownership, Scott shares his unique story, highlighting the pitfalls he encountered along the way. Learn how he and his wife navigated through cash flow issues, operational challenges, and the impact of the pandemic on their business, Get Your Damn Haircut. Discover valuable insights and actionable strategies for overcoming obstacles and achieving entrepreneurial success, drawn from Scott's own experiences and his expertise as an implementer of the Entrepreneurial Operating System (EOS).

Key Takeaways

Spirituality and Entrepreneurial Resilience:

• Scott reflects on his entrepreneurial journey and how it has shaped his perspective on resilience and perseverance.

Maintaining a Growth Mindset:

• He emphasizes the importance of maintaining a growth mindset, especially in the face of adversity or uncertainty.

Entrepreneurial Operating System (EOS):

• Scott shares his experience with EOS, a framework designed to help businesses achieve clarity, accountability, and cohesion.

Empowering Others Through Coaching:

• As an EOS implementer, Scott finds fulfillment in coaching and mentoring business owners, drawing from his own experiences and lessons learned.

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In this episode of the Control Your Cash podcast, hosts Olivia Kirk and Tim Yurek dive into a stimulating conversation with Bob Cordaro, a local attorney, influential radio show host, and business personality. They discuss Bob's journey through high school, his time in College, his experience in the financial world, and his expeditions in the legal, media, and political landscape. Bob opens up about his transformational time in prison, his influential advocacy towards fairness and people-focused policies, and his philosophy on viewing life as an ongoing, observer-beneficiary documentary. The episode offers the listeners value in terms of understanding resilience, self-sustainability, and maintaining a positive outlook during difficult times.

Key Takeaways

Learning from Challenges:

• Bob sees challenges as opportunities for learning and growth, emphasizing the importance of extracting lessons from difficult situations.

Finding Positivity:

• Despite facing setbacks, Bob maintains a positive attitude and encourages others to focus on the good things in life.

Happiness as a Decision:

• Bob believes that happiness is a decision and not merely a reaction to circumstances. He shares personal observations and life lessons about choosing to be happy.

Maintaining Perspective:

• He encourages putting life events into perspective, acknowledging that some people face more significant tragedies. This outlook helps him navigate challenges without getting upset.

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Welcome to the Control Your Cash Podcast, in this episode, Olivia and Tim delve into the complex world of taxes, shedding light on common misconceptions and strategies for financial control. Discover why so many taxpayers unknowingly overpay and how the government's tax system impacts your financial future. Learn why deferring taxes into retirement accounts may not be as beneficial as it seems, and explore alternative ways to keep your money safe and in your control. Join them as they uncover the hidden truths about taxes and provide insights to help you regain control of your financial journey. Don't miss this enlightening discussion.

Key Takeaways

Tax Overpayment Reality Check: 

• Research suggests that a staggering 91% of taxpayers overpay on their tax bill, with over 70% overpaying by more than 70%. This reveals a significant disconnect between perceived understanding and actual overpayment.

Opportunity Costs: 

• Overpaying in taxes not only means losing the taxed dollar but also the potential earnings that could have resulted from it. This loss extends across generations, affecting not just the individual but future descendants as well.

Inflation as a Stealth Tax: 

• Inflation acts as a hidden tax, eroding the purchasing power of money over time. It impacts everyone but tends to affect lower-income brackets more severely.

Empowerment Through Knowledge: 

• Understanding the realities of tax systems and financial instruments empowers individuals to make informed decisions and seek out strategies that align better with their financial goals and aspirations.

To learn more about our process, schedule a FREE Strategy Session today.
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In this episode, Tim and Olivia discuss the strategic use of life insurance for attracting, retaining, and rewarding key employees. They explore the benefits, including true cost recovery and tax advantages, as they share insights and real-life examples. Learn how small businesses can compete for talent and tailor benefit plans to keep key employees engaged. They also uncover the pitfalls of generic consulting solutions and the importance of personalized strategies in this competitive business landscape. Tune in for actionable tips to regain control of your company's financial future.

Key Takeaways

Life Insurance Benefits for Corporations:

• Life insurance policies with death benefits allow companies to recover costs associated with benefits, utilizing cash values to fund retirement plans or exit strategies.

Attracting and Retaining Key Employees:

• Small business owners need to compete for talent. Attracting and retaining key employees is crucial due to the high cost of replacing valuable talent. 

Customized Plans for Retention:

• Successful plans start with conversations with both the business owner and the key employee to identify what's important to each party. 

The Role of Proper Planning:

• Efficiency of Money: Proper planning using life insurance policies can efficiently inject cash into the business during crucial events like the death of key individuals, aiding in business stability and growth.

To learn more about our process, schedule a FREE Strategy Session today.
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In this episode, Tim and Olivia discuss the critical role of cash management for family-owned businesses. They emphasize that cash accessibility, not just physical cash, is crucial for business owners to control their destiny. They highlight the strategy of making one dollar work for multiple purposes, such as funding succession plans or attracting key employees while simultaneously building up accessible cash for business growth.

Key Takeaways

Cash Flow Control is Crucial: 

• Emphasizing the criticality of controlling cash flow, the conversation highlighted how managing cash accessibility is pivotal for business owners.

Access to Cash is Empowerment: 

• Access to cash allows for multiple applications within a business, from funding succession plans, retaining key employees, to setting up exit strategies. Utilizing cash effectively is about making one dollar do multiple jobs.

Cash Flow Fuels Opportunities: 

• In a volatile economic landscape, access to cash during a recession becomes a game-changer. It allows businesses to leverage opportunities, acquire assets, and position themselves favorably.

Empowerment Through Financial Independence: 

• The ability to navigate financial situations and capitalize on opportunities creates a sense of freedom and empowerment for business owners.

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In this episode, Olivia and Tim dive into the crucial concept of how you pay for purchases, rather than what you buy, and its profound impact on your financial well-being. They highlight how conventional financial wisdom can unknowingly work against your interests and why it's essential to regain control over your cash flow. With eye-opening statistics on consumer debt, inflation, and the impending challenges of a shifting economy, they stress the importance of making strategic financial decisions to navigate these turbulent times. By understanding the difference between compounded and amortized interest, listeners can gain clarity and make empowered choices to secure their financial future. Olivia and Tim emphasize that regardless of income level, making cash flow more efficient is the key to achieving lasting financial freedom.

Key Takeaways

Importance of How You Pay: 

• The podcast emphasizes that it's not just about what you buy, but how you pay for it that truly matters in achieving financial potential. Conventional wisdom may not always lead to the most effective use of money.

Interest and Decision Clarity: 

• The hosts stress the importance of understanding the implications of amortized versus compounded interest. Lack of clarity in these concepts can lead to suboptimal financial decisions, affecting individuals, families, and businesses.

Building a Pool of Capital: 

• The hosts advocate for creating a personal pool of capital rather than racing to pay off debts quickly. This pool of capital provides independence and flexibility, reducing dependence on external sources like banks, especially during economic downturns.

Long-Term Financial Strategy: 

• The podcast concludes by inviting listeners to explore strategies for long-term financial success, offering a free strategy session to discuss how to make cash flow more efficient for families and businesses.

To learn more about our process, schedule a FREE Strategy Session today.
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In this podcast episode, Kenny Harper joins Tim and Olivia to share his personal journey from being employed in advertising to starting his own business. He emphasizes the importance of connecting with clients on a personal level and highlights the pivotal moment when he decided to pursue his own venture. Despite facing initial challenges and a lack of business knowledge, he hired a business coach to guide him and ultimately saw significant growth in his business. Kenny also discusses the misconceptions about coaching and marketing, emphasizing the value of investing in self-development. Additionally, he sheds light on the common mistakes businesses make in their marketing efforts and offers insights into how to approach marketing effectively.

Key Takeaways:

Embracing Challenges and Learning from Them:

• Kenny emphasizes that facing and overcoming challenges is a crucial part of personal and business growth.
• He shares a challenging experience where a business partner's unexpected departure led to financial difficulties. Despite initial frustration, he learned valuable lessons from this situation.

The Importance of Transparency:

• Kenny believes in the power of transparency. He learned that it's essential to be open about challenges and failures, as sharing these experiences can help others who might be going through similar situations.

The Value of Relationships:

• Building strong, genuine relationships is at the core of Kenny's approach. He focuses on guiding potential customers through a well-defined customer value journey to build lasting connections.

Balancing Ego and Vulnerability:

• Acknowledging one's vulnerabilities and working through personal challenges, rather than trying to force through them, can lead to personal growth and ultimately benefit those you serve.

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In this candid conversation, Tom delves into the power of resilience, transparency, and the transformative impact of financial optimization. Learn how his expertise has empowered businesses, creating a lasting legacy for entrepreneurs worldwide.

Key Takeaways:
Purpose of ERTC:

• The ERTC, or Employee Retention Tax Credit, was established during the CARES Act to encourage businesses to retain their employees during the COVID-19 pandemic.

Limited Duration:

• It’s essential to note that ERTC is not a permanent program. It’s crucial for eligible businesses to explore and apply for it before it expires.

Qualification for R&D Credit:

• Many businesses engaged in technology, process improvements, and innovation may qualify for the R&D Tax Credit, even if they aren’t aware of it.

Working On the Business:

• Business owners are often too caught up in day-to-day operations. It’s crucial for them to shift their perspective and start working on their business, not just in it.

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