Mac Prichard is the Founder and President of Prichard Communications, a PR company that works with foundations, non-profits, and other social change organizations. He helps his clients tell their stories in order to make a difference to the issues they care about or the communities they work in or serve. On this episode, he talks about the challenges of managing PR and marketing for "products" that do not operate in the traditional sense, as well as shares some tips about how to improve your negotiation skills. Tune in for more!

Key Takeaways:

[:19] John introduces his guest for this episode — Mac Prichard.

[1:15] What does Mac do?

[2:24] What is a Certified Benefit Corporation? What are the benefits of being a B-Corp?

[7:48] What is Mac's background?

[12:43] How did Mac go from a position in government into his current situation?

[14:54] How did Mac's business evolve to catering to his current clients?

[18:23] As an expert in communicating, what are the differences in communicating with other communications professionals, employees and vendors?

[20:53] What does Mac do to serve his clients?

[23:39] Measuring success is a big problem with vendor-client relationships. How does Mac address the fact the outcomes for his clients can't really be controlled?

[26:24] How does Mac manage the dynamics of promoting a "product" that doesn't function in the traditional sense?

[29:17] Mac shares some tips about negotiation based on his experiences and what he's learned in his business.

[32:10] What are some issues that Mac has helped with that he is especially proud of?

[35:15] Businesses also solve problems with the products and services that they sell, and they are making a change regardless of whether they're B-Corps or not.

[36:33] To find out more about Mac and the work that he does, visit his website!

Mentioned in This Episode:

Mac Prichard on LinkedIn

Prichard Communications

Michael Peticolas is an entrepreneur who owns the Peticolas Brewing Company. A 5th-generation Texas trial attorney, he finally turned to pursue his passion for beer in 2010 by starting his own brewery. It was not an easy journey and he had numerous obstacles to overcome, many of them to do with the archaic laws in the state of Texas. Tune in to this fascinating episode to find out more about how Michael pioneered the micro-brewery industry in Texas and the challenges he faced.

Key Takeaways:

[:18] John introduces his guest for this episode - Michael Peticolas.

[1:11] What is Michael's background?

[4:05] Having a business plan is important in helping potential entrepreneurs realize if their idea is feasible.

[6:46] What was the first major problem that Michael ran into? How did he deal with it?

[11:51] The law may pose obstacles to businesses but it is also something that can be navigated.

[13:07] What has Michael pioneering the first microbrewery in Dallas done to the industry?

[16:40] Passion is what builds a business. Michael describes how he uses his brewery to tell his story.

[22:22] Texas has some of the most stringent alcohol laws in the country. Michael deconstructs some of the laws regarding distribution and retailing of alcohol.

[30:02] Michael shares some of the challenges he faced because of changes in legislation that impacted small brewers.

[39:36] John and Michael discuss how some laws were written for the protection of certain rights or groups but in the modern context, these laws are no longer necessary or applicable but are still in effect.

[44:55] Check out the Peticolas Brewery if you're in Dallas to find out more about the Peticolas beers and Michael's story.

Mentioned in This Episode:

Peticolas Brewing Company

Entrepreneurs' Organization

Guitars and Cadillacs

Start with Why: How Great Leaders Inspire Everyone to Take Action, by Simon Sinek

Enron: The Smartest Guys in the Room on Netflix

We've all got an image in our minds of who uses offshore tax havens to host their business — but most are not the crooked billionaires we have in mind. In fact, Paul David Hewson, dubbed "Bono" for his good voice, was linked to some fraudulent tax avoidance through sharing ownership of an offshore company — but there are two sides to every story.

Key Takeaways:

[:24] The sort of people who use offshore tax havens to host their business may not be the crooked billionaires we all have in mind.

[1:20] The Paradise Papers exposed how the global 1% use international entities to structure their wealth through the release of 13.4 million electronic documents.

[1:49] Paul David Hewson "Bono" was discovered in the documents, revealing his share in a Lithuanian mall via his stake in a company called Nude Estates.

[2:45] The company's ownership was transferred to Guernsey where foreign investors pay no tax.

[4:20] Call Financial Gravity when you desire to save, and let's see if we can rescue enough wasted tax dollars to send you someplace where the streets have no name.

Financial Gravity

Paradise Papers

BBC Article on Bono and the Paradise Papers

Stranger Things is chock full of nostalgic '80s references and naturally, has me nostalgic for 1980s taxes. From writing off 100% of the cost of a business lunch to people fraudulently claiming tax deductions on nonexistent children — taxes were a lot different in the 80s!

Key Takeaways:

[:22] Netflix has completed upended how people consume television by releasing an entire season's worth of a series all at once.

[:56] The Netflix hit TV show Stranger Things is chock full of nostalgic 80s references.

[1:43] Taking a look at taxes in the 1980s.

[2:53] Millions of people fraudulently claimed tax deductions on nonexistent children and pets.

[3:31] You could deduct interest you paid to buy almost anything except tax rebounds.

[3:52] The shadow monster and Demogorgon are make belief but the risk of overpaying your taxes is very real. So don't fight your way out of a creepy government lab or scary IRS tax code all by yourself. Call Financial Gravity for a plan and we'll guide you to safety.

Mentioned in This Episode:

Financial Gravity

Stranger Things

Todd Peoples is a partner at Take Command Health, a company in the healthcare space that helps people navigate the complexities of health and medical insurance, by providing people with more options to help them make better decisions based on their specific needs. Todd shares his experiences of having to pivot in his business after changes in legislation eliminated the need for his initial business model, as well as how his company provides alternatives to traditional health insurance plans to help people choose what's best for them. Tune in to find out more!

Key Takeaways:

[:19] John introduces his guest for this episode — Todd Peoples.

[1:12] Todd shares how his company got started.

[6:59] What does Todd's company do now?

[10:40] As a tax planning firm, John recommends health reimbursement accounts.

[12:16] What is the QSEHRA and how does Todd help people take advantage of it?

[18:28] Todd highlights another segment of small businesses that his company helps.

[20:27] 80% of consumers make the wrong decision, even when they have the facts. Todd explains why this happens.

[26:30] People lose a lot of money by choosing the wrong insurance plan for themselves.

[29:17] How would Todd fix what's broken in the healthcare industry?

[35:38] What are Todd and his company doing to prepare for unforeseen changes that the Trump administration and future administrations will bring?

[38:38] Todd explains how his company has introduced alternative plans for small businesses and individuals.

[45:20] To find out more about Todd and his company, visit his website!

[46:22] Todd leaves us with some final words of wisdom.

Mentioned in This Episode:

Todd Peoples on LinkedIn

Take Command Health

When Amazon was deciding where to place their new headquarters, municipalities all over the U.S. sent in their bids in an attempt to have it placed in their town, in turn boosting their economy. Even though you may not have the same amount of muscle to flex (as a Municipality) to negotiate your own tax rate, you still can use the tax code to your benefit.

Key Takeaways:

[:22] Former President Jimmy Carter once called our tax code a disgrace to the human race.

[1:26] Amazon.com: From a mere online bookseller in the '90s to the largest online retailer in the world.

[3:15] Municipalities all over the U.S. submit their bids to have the new Amazon facility placed in their town or city in hopes of boosting their economy.

[4:12] You may not have enough muscle to negotiate your own tax rate, but you can use the tax code to your benefit.

[4:30] Call Financial Gravity for a plan and see how much we can deliver.

Mentioned in This Episode:

Financial Gravity

Taylor Stevens is the New York Times best-selling author of the Vanessa Michael Munroe series. Taylor has an unconventional background but overcame numerous obstacles to reach her current level of success through her own hard work, grit, and perseverance. In this episode, Taylor and John discuss what it takes to be a best-selling author, the complexities and changes in the book publishing industry, and her journey to reaching her current level of success. Tune in to find out more about Taylor's inspiring story!

Key Takeaways:

[:19] John introduces his guest for this episode — Taylor Stevens.

[1:20] What does it mean to be a best-selling author?

[4:04] What does it take to become a New York Times best-selling author?

[8:42] How did Taylor get on the New York Times best-seller list? She shares a little about her books and her journey to becoming a best-selling author.

[11:50] Is there a difference in how a reader experiences a book if they read it vs. if they listen to it being read?

[16:19] Taylor explains how a good author can help readers create their own mental movie.

[20:14] What is Taylor's background?

[28:14] Taylor's background and humble beginnings have given her the credentials to teach others how to do what she does.

[32:33] Taylor uses the example of an addict to illustrate that if you want something badly enough, you will find the means and ways to get it.

[34:06] John shares some other examples of people who wanted things badly enough to achieve them.

[36:15] Taylor shares what it's like to be a writer.

[38:51] What is the writing and production process like?

[45:51] What are some of the changes in the book publishing industry?

[51:54] Many industries are going through disruptive changes, as well. Taylor explains how people expecting content to be free has impacted her.

[56:01] Check out Taylor's work via her website to get access to her podcast, and show some support for her work through her Patreon account.

Mentioned in This Episode:

Taylor Stevens

Vanessa Michael Munroe series, by Taylor Stevens

The Taylor Stevens Show (Podcast)

Taylor Stevens on Patreon

Taylor Stevens Mailing List

Rich art collectors donate art to avoid tax on capital gains and receive major tax deductions from their private collections. Even though your art collection at home may be small, you can still take advantage of the same tax planning strategies that major collectors use.

Key Takeaways:

[:56] The new toy capitalism's winners are showing off that comes with some beautiful tax breaks: private art museums

[1:23] Rich art collectors donate art to avoid tax on capital gains.

[2:34] The private museum: Get your deduction and have control over your collection.

[3:10] Who sets up one of these private museums? Peter Brant Jr. and Mitchell Rales.

[4:00] We realize your art collection might not include more than the dogs playing poker, hiding in your basement rec room — but that doesn't mean you can't canvas the tax code for the same tax planning strategies that major collectors use to structure their private museums. Just call Financial Gravity for a plan and we'll see if we can make beautiful art with your finances.

Mentioned in This Episode:

Financial Gravity

EJ Carrion is the founder of Student Success Agency, an agency that represents high school students and teenagers and provides them with access to student support services around-the-clock to give them exponentially more time and readiness for college, their career, and life. EJ and John discuss the unique business challenges he faces in his unconventional business, and the importance of technology and proprietary software to his business. Tune in for some great insights into entrepreneurship and building a successful, scalable business.

Key Takeaways:

[:19] John introduces his guest for this episode — EJ Carrion.

[1:14] What does EJ do?

[2:55] How did EJ discover that students not having enough access to school counselors was a problem?

[5:14] The system changes so quickly that it is hard for students to stay on top of all the information they need to make the right choices about their futures.

[10:40] Who is EJ's client?

[11:58] EJ has a very interesting business problem where the client who pays for the service (the schools) is not the same as the client who receives the service (the students). How does he navigate the complexity of this issue?

[16:31] It is important to communicate with your end user in the way they best communicate, whether through text messaging or emojis.

[18:19] What were some of the challenges associated with building the proprietary software EJ uses?

[22:38] John unpacks some lessons from EJ's experiences.

[24:35] How is EJ handling the move into automation and using technology to improve his systems and processes?

[28:11] A mistake entrepreneurs sometimes make is trying to create something at scale from the very outset — it is much more important and productive to have a product or service that customers love and then expand from there.

[34:56] Is there a possibility that EJ and his company could replace the entire counseling department in a school?

[38:41] What is EJ's pricing scheme?

[42:51] Building a real business with real revenue is crucial before trying to raise money.

[46:07] EJ has some advice for parents listening about school.

[48:54] Find out more about EJ and what he does on his websites.

Mentioned in This Episode:

Student Success Agency

EJ Carrion

"Financial Gravity Podcast Episode 33: Shama Hyder — Marketing Zen Extraordinaire"

Richard James is not an attorney, but has built a business that is focused on helping attorneys maximize their business. Richard built and ran very successful businesses in various industries before getting into his current practice. On this episode, Richard and John discuss his strategies for helping attorneys get the freedom that they want. It all boils down to creating systems that will help your business run without you, and also allow it to grow and expand. Tune in to find out more about Richard and how he has helped hundreds of attorneys maximize their practices.

Key Takeaways:

[:19] John introduces his guest for this episode — Richard James.

[1:06] How did Richard build a business to help attorneys without ever being an attorney in the first place? Richard talks about his background and how he got into the industry.

[8:30] Lesson #1: Never assume!

[9:37] What did Richard learn from being in the funeral business that he uses in his business today?

[12:31] What is the common thread that connects all the businesses that Richard has been in?

[18:20] What is the thing that attorneys want in their business?

[21:44] Richard shares a case study to illustrate how his systems work.

[27:47] Richard explains the importance of asking questions, and asking the right questions.

[31:03] Most entrepreneurs aspire toward freedom. Richard shares how this ties into business.

[40:06] What is Richard's business model, and how does he get clients?

Mentioned in This Episode:

Richard James

How to Buy a Good Business at a Great Price, by Richard Parker

Freedom Founders

Mindset, by Carol Dweck

Bluefishing, by Steve Sims