The Progressive Agency Podcast

The Progressive Agency Podcast

By Craig CodyBusinessManagement
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The Progressive Agency Podcast episodes

  • How to Build a Successful Agency, with Nick Kremer

    This week, I welcome Nick Kremer to the show. Nick has been a serial entrepreneur since he was 23 and has spent the last 12 years investing all of his time and effort into Driven Leads and their clients. Nick discusses how to build a successful agency by prioritizing cash flow and avoiding business debt. Hear insights about:

    • Why finding and staying in a niche is more efficient and financially beneficial for entrepreneurs
    • The most common mistake that new agency owners make when starting out
    • Why Nick has remained a W-2 employee and hasn't taken any dividends from his company
    • How giving employees more independence can save business owners time
    • When entrepreneurs should develop an exit strategy
    • Why prioritizing cash flow and avoiding debt is crucial to a successful business
    Setting Your Business Up for Success

    It may be appealing to start your business as a jack-of-all-trades, thinking that you'll have the potential for more work. In actuality, the riches are in the niches — settling on a specific area of focus allows you to become a go-to expert in your industry. Choosing a niche sets your business up for success from the beginning.

    My guest this week on the Progressive Agency Podcast is Nick Kremer. He has been a serial entrepreneur since he was 23 and has spent the last 12 years investing all of his time and effort into Driven Leads and their clients. Nick joins me to discuss how he accidentally found his niche (GoogleAds), and what he did to build a successful agency around it.

    Focusing on Your Cash Flow

    What's the most common mistake that new entrepreneurs make when starting? Not focusing on cash flow. During our conversation, Nick shares an example of a good friend who recently started a business and almost immediately started making $30k a month. He explains why his friend should not pocket any of that money – instead, he should be investing it back into his business.

    Your company needs money to be able to flourish and grow, so you need to reinvest in your business. You have to look at taking that money that you're making now and predict where you're going to need it in 6-12 months. Most businesses don't fail because the person doesn't work hard, they fail because they made the wrong financial decisions. That is the reason why it's crucial to be educated on cash flow and business debt.

    Managing for Efficiency

    Entrepreneurs may also want to consider remaining a W-2 employee in their business, like my guest Nick Kremer. Nick explains that he does not take dividends from his company, but instead chooses to invest that money back into his employees.

    Nick values investing in his employees, but he quickly learned that he was spending too much time managing them and their tasks. He recalls, "I had my door open too often, which slows down the process of anybody that has the door open to answer questions."

    Nick discusses how he changed his process to help his employees find solutions for their questions, eventually leading them to depend on his guidance less and less. Coaching your employees to be more confident and independent ultimately leads to more efficiency in the business.

    How to Connect with Nick Kremer:
    • Website: https://drivenleads.com/
    • Facebook: https://www.facebook.com/DrivenLeads/
    • LinkedIn: https://www.linkedin.com/in/nickjkremer/
    • Twitter: https://twitter.com/nickjkremer
    About Nick Kremer:

    Nick has been a serial entrepreneur since he was 23 and has spent the last 12 years investing all of his time and effort into Driven Leads and their clients. Many people find themselves becoming an entrepreneur for several different reasons like freedom, money, and building on an idea. Nick came to the world of entrepreneurship because he was raised in a world where most of his family were business owners, farmers, and people that paved their own path. The greatest reward of running his own business is seeing his clients and employees have a better life as a result of working with him. Whenever he is asked about his exit strategy from his current business, his answer is a quick one-worded response – death. He genuinely enjoys being able to lead his team every single day.

    19 min
  • Hiring Out-of-State Remote Employees, with Craig Cody

    Does the Great Resignation have you considering hiring out-of-state remote employees? Hear insights about:

    • What should you be aware of if you are considering hiring remote employees who are in a different state than your business
    • Why recruiting new employees is currently taking at least three to six months
    • What are your responsibilities as an employer to out-of-state employees
    • What is apportionment, and how that can impact the amount of taxes you'll pay
    • How the IRS can easily determine if you have out-of-state employees

    Resources:
    • The 12 Biggest Tax Mistakes That Cost Agency Owners Thousands
    Additional Resources:
    • Website: www.craigcodyandcompany.com
    • Twitter: @CraigC2742
    • LinkedIn: https://www.linkedin.com/in/craigcodycpa
    About Craig Cody:

    Craig Cody is a Certified Public Accountant, Certified Tax Coach™, business owner, and the host of The Progressive Dentist Podcast and The Progressive Agency Owner Podcast. Prior to his current work, Craig spent seventeen years with the NYPD, where he retired as a Lieutenant in September 2000. Craig is an expert in helping his clients legally reduce their tax liabilities and keep more of their money. Through his podcast, Craig helps dentists grow their practices through smart financial decisions and through financial education of the kind that isn't offered in dental school.

    10 min
  • How to Maximize Tax Deductions, with Bill Black

    This week I welcome Bill Black to the show. Bill has been in the pension administration business for over 40 years and helps clients work toward their retirement objectives. Bill discusses how to maximize your tax deductions by utilizing retirement plans to invest in life insurance. This allows you to save more money and give your survivors income tax-free benefits.

    • What are qualified retirement plans, and what factors help determine which is best for you
    • How to create a custom retirement plan to save the amount of money you pay in taxes
    • How the size of your deduction can vary based on your contribution
    • Why would someone begin to look into defined contribution plans
    • Why you would want to invest in a life insurance plan inside of your 401(k)
    • How owning life insurance inside of a defined retirement plan can save money on taxes and leave your survivors with income tax free benefits
    • What upcoming changes should you expect to see in 401(k) plans
    • Why businesses should do a health check on their retirement plans
    • What is the affiliated service group, and how do people often fall trap to it
    Keep More Money In Your Pocket

    We all want ways to maximize our tax deductions that are not outside of the box and will not get us into any trouble with the government. We can use the rules that are on the books to create a qualified plan to benefit us and keep more money in our pockets.

    We are constantly looking to learn different ways to legally reduce our taxes and save more of the money we make. My guest this week on the Progressive Agency Podcast, Bill Black, joins me to discuss how to create a custom retirement plan to maximize your tax deductions, and ultimately save the amount of money you pay out each year.

    Create A Custom Retirement Plan

    Did you know there is a limit to how much you can put into a 401(k) plan? A 401(k) is a defined contribution plan, meaning that the law defines the contribution and benefit. Bill has been in the pension administration business for over 40 years and helps clients work toward their retirement objectives. We discuss how Bill and his team help business owners create a custom-defined plan, to maximize their tax deductions.

    Were you aware that the maximum contribution amount can change year depending on inflation? For example, last year, the most that could go into a defined contribution plan for any participant was $58,000. This year, that's been raised to $61,000. Bill explains how the size of your deduction can vary if you're single versus if you are married. He and I discuss defined benefit plans or cash balance plans that are available to people who find that they aren't getting a big enough deduction.

    Investing In Life Insurance

    When people think about their 401(k) retirement plans they typically think about stocks, bonds, mutual funds, etc. But another investment that people don't think about, is life insurance, particularly in a defined benefit plan. During our conversation, Bill explains how the plan can provide a pre-retirement survivor's benefit funded by life insurance.

    Why would someone decide to invest in life insurance in their retirement account? It's more about the amount of money they could save than it is about life insurance. Bill shares his insights on how you could save thousands of dollars more than owning life insurance outside of your retirement plan. He also explains how your survivors' benefit is income tax free.

    How to Connect with Bill Black:
    • Website: https://pensionspecialist.net/
    • LinkedIn: https://www.linkedin.com/in/whblack/?locale=en_US
    • https://www.linkedin.com/company/w.h.-black-&-company-inc./about/
    • Facebook: https://www.facebook.com/WHBlackCoLifeInsurance/
    • Phone: 1-888-412-4120
    About Bill Black:

    Bill Black has been in the pension administration business for over 40 years and helps clients work toward their retirement objectives. He works with both individual and small business owners in the areas of benefits, retirement planning, and business planning. Bill and his team can offer a wide range of financial products and services including insurance, annuities, and investment products (tax-sheltered plans, mutual funds) to help his clients meet their retirement needs.

    Education Bachelor of Arts, Business Administration, and Economics Rollins College Professional Credentials: Chartered Financial Consultant (ChFC) Chartered Life Underwriter (CLU) Life and Qualifying member MDRT (Million Dollar Round Table) 15 Time Court of Table (MDRT) 20 Top of Table (MDRT).

    Licensed in 42 states, Bill truly has a national practice. He has marketed and administered plans in virtually every state in the union.

    Bill has spoken nationally and internationally on the topics of qualified plans and is a much sought-after speaker. He has been quoted in USA Today and has been a guest on financial radio shows. Bill is certified to teach continuing education to CPAs and insurance professionals. Additionally, he has had numerous articles published in national journals.

    Bill brings a professional and necessary combination to the marketing effort: comfortable with the explanation of complex ideas and able to put them into easily understood concepts, with the ability to sell.

    24 min
  • Understanding the Qualified Business Income Deduction, with Craig Cody

    Are you taking advantage of the qualified business income deduction? It's a great way to save money. Hear insights about:

    • What is the qualified business income deduction
    • Who is eligible and who may not be eligible for the qualified business income deduction
    • How to take advantage of the qualified business income deduction
    • Why do you need to make sure that your salary is high enough to qualify for this deduction if you have no employees
    • Where can you look on your tax return to determine if you can take advantage of this deduction
    • What to ask your CPA to ensure that you are not missing out on this opportunity

    Resources:
    • The 12 Biggest Tax Mistakes That Cost Agency Owners Thousands: https://www.amazon.com/Biggest-Mistakes-Agency-Owners-Thousands/dp/B088B6DPG9/ref=sr_1_1?qid=1639661450&refinements=p_27%3ACraig+Cody&s=books&sr=1-1
    Additional Resources:
    • Website: www.craigcodyandcompany.com
    • Twitter: @CraigC2742
    • LinkedIn: https://www.linkedin.com/in/craigcodycpa
    About Craig Cody:

    Craig Cody is a Certified Public Accountant, Certified Tax Coach™, business owner, and the host of The Progressive Dentist Podcast and The Progressive Agency Owner Podcast. Prior to his current work, Craig spent seventeen years with the NYPD, where he retired as a Lieutenant in September 2000. Craig is an expert in helping his clients legally reduce their tax liabilities and keep more of their money. Through his podcast, Craig helps dentists grow their practices through smart financial decisions and through financial education of the kind that isn't offered in dental school.

    7 min
  • How to Pay Off Debt Quickly, with Adam Carroll

    This week I welcome Adam Carroll to the show. Adam is a financial literacy expert, speaker, author, and the founder of the Shred Method, who has dedicated himself to helping people build a bigger life. Adam discusses how to pay off debt quickly using the Shred Method. This works to help leverage the cash flow through your personal economy to radically eliminate your debt in record time. Hear insights about:

    • How Craig discovered velocity banking and evolved it into the Shred Method
    • How the Shred Method helps the average person with a mortgage
    • How Craig accelerates the process of paying down debts by leveraging short term debt against compound interest with a large balance
    • What a HELOC is and how it can help you save money
    • How Craig and his wife paid off their house twice over between 2012 and 2021
    • Why the key to financial security is understanding wealth acceleration
    • Steps to leveraging the Shred Method
    • Who the Shred Method works best for
    • Why the method works equally as well for property investors
    • Ways to cleverly squeeze the juice out of your finances
    Save Yourself Thousands of Dollars

    When you understand how to leverage a Home Equity Line of Credit (HELOC) as a debt repayment model, you can potentially save yourself tens if not hundreds of thousands of dollars in interest over the life of that loan.

    We all want to be as financially educated as possible to manage our finances cleverly. My guest this week on the Progressive Agency Podcast, Adam Carroll, joins me to explain just how we can save money and pay down a considerable amount of debt by using the equity in our homes to minimize the debt held against it.

    Completely Pay Off Debt in 5 Years

    And I mean completely — mortgage, car loan, tuition all paid off in full. Adam, who is a financial literacy expert, speaker, author, and the founder of the Shred Method, explains how the average person can make their money work for them in the most efficient way possible. We discuss how the Shred Method works and how Adam's previous role as a Mortgage advisor gave him the insight and impetus to research why owning a home can keep you in perpetual, long-term debt and how to get out of it.

    Did you realize that a homeowner will pay the bank back as much as 2½ times the amount of their original mortgage on average? People are often laboring under the misconception that their mortgage is the cheapest debt they'll ever have, but as Adam explains, there are ways to bring the interest they're paying off to under 1%; you just have to know the right steps to take. We discuss why keeping on top of your financial housekeeping is essential if you want to save money and why to check your financial statements to ensure that your payments are allocated to bringing the principal debt down.

    Squeeze the Juice Out of Your Cash

    Getting a little bit more juice squeezed out of your finances is something that everybody would love to do. When you get right down to it, though, it's as much a matter of mindset and financial education as clever money management. When you think about how your best life looks, you are probably factoring in time spent with the people you love as well as having enough money for a few of life's luxuries. Understanding that you can make your time more valuable by creating financial systems that you can rely on is key to getting the most out of your money.

    When you flip the narrative on saving money and understand how to see things differently, you start to notice the business systems you could create to generate recurring savings. One of the ways you can do that is to realize that when you outsource, you're actually making savings — in other words, don't spend time doing the $20 an hour activities 20 hours a week, Because there's no way that you're going to make six figures when you're doing activities that are beneath your paygrade. And when you don't leverage what you have to save significant sums of money it's exactly the same principle. When you optimize the time you spend on a task or the money you invest, you need to be as efficient as possible.

    How to Connect with Adam Carroll:
    • Website: www.theshredmethod.com
    • LinkedIn: https://www.linkedin.com/in/adamcarrollspeaks/
    • Facebook: https://www.facebook.com/AdamSpeaks/
    • Twitter: https://twitter.com/AdamCarroll
    36 min
  • Successful Business Strategies, with Linda Welter

    Building a successful business can throw up many challenges, financial and otherwise. Linda Welter joins me on the show to share her advice for business owners and gives her insight into successful business strategies that help agencies thrive in the long term. Hear insights about:

    • What Linda sees as Caliber Group's main niches and how having a spread of specialisms has helped the agency reinvent itself and grow
    • Linda's strategy for staying resilient and surviving over the long term
    • How to go deep into your service line niches to be well known in a variety of industries and why it helps you pivot and survive
    • The most important financial lesson Linda has learned over the 24 years of building Caliber Group
    • The most significant financial mistake Linda ever made or saw other agencies make
    • Strategies Linda would recommend to others who want to build an agency with longevity
    • What Linda found most challenging to wrap her head around when it came to agency finances
    • What systems Linda has put into place to deal with cash flow in the Caliber Group
    Strategies for Building a Successful Business

    Building a successful agency requires deploying several strategies simultaneously to be successful. One of the most important methods in our toolkit is building a successful brand reputation through positive client results and referrals.

    It's important to have a clearly defined vision, values, and brand positioning strategy. It is also essential to have a loyal, and committed team to support you in the work of growing your brand and winning quality clients. The key to running a successful business though is committing to understanding the details of how to run the business's finances so you can develop and grow in the long term.

    How to Run Your Business Financially

    My guest on the podcast, Linda Welter, shares some of the mistakes she made in the early days of owning a business, including operating her business on a cash basis for tax purposes. She describes why it took some time before she started to simultaneously run the business on an accrual basis, as well as a cash basis, and how she learned the process. Linda also shares why it made a difference in terms of decisions that she made for the organization throughout the year as opposed to making important decisions purely on a tax basis.

    Effective agencies should be run on an accrual basis, then can convert to the cash basis for taxes. Because thriving as a business depends not only on having a great product or service and marketing it well, it also depends on you getting paid — after all, if you're not getting paid in a timely fashion the business is going to fail.

    Understanding Cash Flow

    All businesses will struggle with cash flow at some point in time, the pandemic was truly a test for most companies and how they managed their cash flow. Linda and I discuss why it's essential to have two to six months of operating expenses and a line of credit in place before cash flow issues occur to protect the health of your agency. Linda acknowledges that it can be difficult to build up reserves in the early stages of building a company but goes on to share why hard choices must be made to develop this financial cushion over time.

    Without reserves and a line of credit, you run the risk of falling into the trap of using the funds from clients who pay promptly to pay off the expenses for clients that are slow to pay it is just too easy to get into trouble when you operate that way. When you are intentional about both the operational and financial sides of running your company you are much more likely to see long-term success.

    How to Connect with Linda Welter:
    • Website: https://www.calibergroup.com
    • LinkedIn: https://www.linkedin.com/in/lindawelter/
    • https://www.linkedin.com/in/CaliberGroup
    • Facebook: http://facebook.com/CaliberGroup
    • Twitter: http://twitter.com/welterwisdom
    • Instagram: https://www.instagram.com/CaliberGroup
    About Linda Welter:

    As Principal and CEO of the Caliber Group, Linda is responsible for managing and growing Caliber's AGI through strategic planning, business development, sales and marketing, product and service innovations, and talent recruitment and development. Previously, Linda served as vice president of marketing and public relations for a financial institution and an account executive for a marketing agency.

    When Linda is not managing the agency and selling its services, she helps leadership teams build, reposition and protect company brands and reputations during challenging times. Her goal is to help the leaders of organizations solve complex problems, communicate effectively, manage change, and strengthen relationships with all impacted stakeholders critical to an organization's success when a major crisis or issue hits. She has helped numerous organizations successfully navigate reputation-defining situations, including business closures, foodborne illnesses, accusations of corporate wrong-doing, hostile mergers and acquisitions, union negotiations, ethics violations, and our current pandemic.

    Linda is Accredited in Public Relations and previously served as Chair of the Public Relations Society of America (PRSA) Board of Ethics and Professional Standards. During her tenure on this Board, Linda co-authored PRSA's Code of Ethics, which today serves as the guiding professional standards for the 20,000-member organization. She has received numerous awards for successful brand positioning, public relations, and reputation management campaigns, as well as awards for community leadership and entrepreneurial successes.

    22 min
  • Tips for Small Agency Challenges, with Chip Griffin

    Small agencies can often face challenges when growing their business. Chip Griffin joins me today to give insights and tips for those small agency challenges and how he provides management, consulting, and coaching advice to help them scale. Hear insights about:

    • The most important financial lesson that Chip has learned as an entrepreneur
    • The main financial mistakes that Chip sees business owners making
    • Why it's imperative to understand how to calculate your profit margins
    • Why Chip is passionate about educating agency owners with his podcast
    • The best way to figure out the right pricing model for your business
    • Time-saving tips that Chip recommends to small agencies
    • The importance of creating an open and honest company culture as the owner
    Know Your Numbers

    The most important thing as a business owner is to know your numbers. My guest this week, Chip Griffin of Small Agency Growth, joins me to discuss why far too many agency owners don't have a comprehensive profit and loss statement to use as a reliable source of information to manage their business better.

    Chip is a serial entrepreneur who has focused his business expertise on serving the PR and marketing community for over 30 years. He is passionate about educating other small business owners and sharing the insights he has gained (and the mistakes he has made) during his career. His company, the Small Agency Growth Alliance, supports agency leaders to take control of their own businesses to get the results that they want. Chip explains how he works with small agencies to help them grow their profitability by breaking financial information and tasks down into smaller chunks. He shares the importance of educating entrepreneurs about putting individual project budgets in place, regardless of how much money they see sitting in their bank account. We dive into the long-term perils of 'checkbook accounting' and why small business owners get caught in that mindset instead of truly understanding that you need to know your numbers to make sound business decisions.

    Think About Your Profit Margins

    Once you have an overview of your numbers as a small agency owner, you have to dig down into the details to understand what your profit margins are.

    And how you calculate that profit margin is significant whether you're targeting 15% or 30%. Many agencies struggle to find an accurate number for their own compensation, which can then dramatically skew their profit numbers. Or they don't accurately account for the difference between the income and reimbursable income, primarily in the form of digital media.

    Chip shares why failing to count those two things correctly makes your percentages way off base, which has the knock-on effect of making it almost impossible to calculate your profit margins accurately.

    Growing the Business

    Agency owners can often be penny wise and pound foolish — particularly when it comes to talent and labor. Chip and I discuss some of the mistakes that small agencies make when trying to figure out how to be as profitable as possible. We talk about the dangers as an owner of either overworking their team to make the numbers look better or holding off on investing in additional team members.

    As an owner, you need to ensure that your time is freed up to focus on higher-value activities, but so many entrepreneurs get stuck doing tasks that don't allow them to make the best use of their time. If you fall into this trap, you will almost certainly hold back the growth of the business. Chip explores the necessity of a healthy company tracking finances accurately from the get-go to be on a strong growth trajectory.

    How to Connect with Chip Griffin:
    • Website: https://www.smallagencygrowth.com
    • LinkedIn: https://www.linkedin.com/in/chipgriffin
    • Facebook: https://www.facebook.com/chipgriffin
    • Twitter: https://twitter.com/ChipGriffin
    About Chip Griffin:

    Chip Griffin is a serial entrepreneur with a track record of building businesses that serve the PR and marketing community. He founded the Small Agency Growth Alliance to help agency leaders take control of their own businesses to get the results that they want.

    He has worked in a wide range of communications-related roles, starting as a junior account executive at a boutique public affairs firm and most recently serving as Chief Operating Officer for a global media intelligence agency.

    As someone who has owned an agency himself, he understands the challenges and opportunities his clients see every day.

    Chip lives in Bow, New Hampshire, where he can often be found officiating or photographing youth sports in his free time.

    21 min
  • Business Exit Planning, with Drew McLellan

    Drew McLellan is the owner of McLellan Marketing Group and the owner and leader of the Agency Management Institute. In his fourth appearance on the Progressive Agency podcast, Drew discusses agency owners' succession and shares tips and strategies to begin business exit planning. Hear insights about:

    • What hot topics for agency owners does Drew expect to see throughout 2022
    • How do agency owners find a balance between tax planning and building value and equity in the business
    • Why business owners should wait until January to empty their bank accounts at the end of the year if they are planning to sell
    • What should business owners do if they think they may want to sell eventually
    • Why owner financing is often a good option if you are selling your business to an internal employee
    • How long does it typically take to close a deal beginning from the initial conversation to consummation

    Business Exit Strategies for Agency Owners

    My encore guest for this week's episode of the Progressive Agency podcast is Drew McLellan from the Agency Management Institute. Drew is an expert at helping agencies plan their succession, and in this episode, he shares tips and strategies to begin business exit planning if you plan to sell within the next five to ten years.

    Business Exit Planning

    During our conversation, Drew explained that he and the Agency Management Institute team help agency owners with their succession. This includes actually helping an agency owner identify internal buyers, and then facilitating the entire process of mediating the deal and financing it.

    One of the problems Drew continuously sees during the succession process is that agency owners are often very good at tax planning – too good in fact. They focus on getting their bottom line and their profitability number down to as small as possible by the end of the year so that they don't pay tax on those dollars. The problem is, if they've been successful at that for many years, once they do the valuation, the agency looks far less valuable than it really is.

    Drew and I discuss the importance of finding a balance between reducing your taxable revenue while still building an equitable and valuable business, if you are planning to exit. The key to business exit planning is preparing well in advance for a potential sale. It is crucial to talk to your CPA early and keep them in the loop. You will also want to be sure that you are taking proper compensation as an owner. Drew and I discuss what income range is typically good for most owners planning to sell their company.

    Preparing for Valuation

    When looking at your profit and loss statement at the end of the year, you want to show that your business has the potential to make a lot of money. To achieve that you want to have items that you can easily move "below the line." Adding items to the other income and expenses line on your profit and loss sheet can help you demonstrate that you could add those expenses back into the profit of your business. This will help buyers understand the business's true value during valuation.

    To learn more about Drew McLellan and the Agency Management Institute, please visit their website at https://agencymanagementinstitute.com/. And of course, please visit https://craigcodyandcompany.com/agency-podcast/ for more informative, money-saving podcast episodes like this one.

    Additional Resources
    • Website: www.craigcodyandcompany.com
    • Twitter: @CraigC2742
    • LinkedIn: https://www.linkedin.com/in/craigcodycpa
    How to Connect with Drew McLellan
    • Email: [email protected]
    • LinkedIn: www.linkedin.com/in/drewmclellan
    • Website: https://agencymanagementinstitute.com/
    About Drew McLellan

    For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops, and more.

    23 min
  • 2021 Tax Planning, with Craig Cody

    Planning your 2021 taxes? It's a great way to save money. Hear insights about:

    • What resources of Craig's can help you understand basic tax planning
    • What steps should you take before the end of the year to help you save money on your 2021 taxes
    • How to add additional money into your 401(k) if your payroll service automatically caps your contributions if you're over age 50
    • What is a back-door Roth IRA, why you should do it, and what could prevent you from doing it
    • What is the pass-through entity tax, and how it can help you get around the $10,000 personal deductibility cap

    Resources:
    • The 12 Biggest Tax Mistakes That Cost Agency Owners Thousands: https://www.amazon.com/Biggest-Mistakes-Agency-Owners-Thousands/dp/B088B6DPG9/ref=sr_1_1?qid=1639661450&refinements=p_27%3ACraig+Cody&s=books&sr=1-1
    Additional Resources:
    • Website: www.craigcodyandcompany.com
    • Twitter: @CraigC2742
    • LinkedIn: https://www.linkedin.com/in/craigcodycpa
    About Craig Cody:

    Craig Cody is a Certified Public Accountant, Certified Tax Coach™, business owner, and the host of The Progressive Dentist Podcast and The Progressive Agency Owner Podcast. Prior to his current work, Craig spent seventeen years with the NYPD, where he retired as a Lieutenant in September 2000. Craig is an expert in helping his clients legally reduce their tax liabilities and keep more of their money. Through his podcast, Craig helps dentists grow their practices through smart financial decisions and through financial education of the kind that isn't offered in dental school.

    7 min
  • Marketing for Dental Offices, with Chris Pistorius

    Marketing for dental offices offers unique challenges, but expert Chris Pistorius has mastered the art. Hear insights about:

    • How Chris dipped his toe in advertising by selling ads for his college newspaper, and why he struck out on his own and started his own agency marketing for dental offices
    • Why Chris and his team chose to narrow their focus to specializing in helping dental offices and medical professionals with their marketing
    • What common financial and tax-related mistakes Chris has seen agency owners make, and how to avoid those pitfalls
    • Why it's crucial to set up your business with documentation, processes and systems, and how doing so can add tremendous value to your business
    • How Chris and his team track and project their cash flow using robust data and spreadsheets to document everything
    • Why developing his sales and leadership skills have been key pillars of the success Chris has been able to create for his business
    • What process Chris followed to hire for his own weaknesses and develop his leadership experience
    • How Chris developed his podcast, the Dental Marketing Podcast, and what interesting and actionable topics his show covers

    How to Connect with Chris Pistorius:
    • Website: https://kickstartdental.com/
    • The Dental Marketing Podcast with Chris Pistorius on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-dental-marketing-podcast/id1553267057
    • LinkedIn: www.linkedin.com/in/pistorius/
    • LinkedIn: www.linkedin.com/company/ifuse-internet-marketing-inc/
    • Facebook: www.facebook.com/kickstartdentalmarketing
    • Twitter: @KickStartDental
    Additional Resources:
    • Website: https://craigcodyandcompany.com/
    • Twitter: @CraigC2742
    • LinkedIn: https://www.linkedin.com/in/craigcodycpa
    About Chris Pistorius:

    Chris Pistorius is the founder of KickStart Dental Marketing. While Chris specializes in dental marketing, other medical professionals, marketers, entrepreneurs, and businesses can learn from his digital marketing experience of over 15 years. Chris has worked with countless local business owners in all industries across multiple facets of marketing, consulting, and coaching. Chris has been able to build his local digital marketing agency into one of the top marketing agencies in the country, as listed on UpCity, SEO For Growth, DesignRush, Expertise & AgencyVista. He shares his expertise by giving marketing seminars across the country and hosting a weekly marketing podcast.

    Before starting his marketing agency in 2009, Chris worked for online marketing giants AOL, Time Warner, Dex & MapQuest. He holds several online marketing certifications and is trained by Google on how businesses can get the most out of their marketing efforts. He's also the author of The Ultimate Guide to Internet Marketing for Dentists.

    Chris resides in the Denver, CO area with his wife Michele and two kids, Kaitlyn & Brody.

    21 min

About The Progressive Agency Podcast

From the publisher's feed

The Progressive Agency podcast is a resource to help agency owners keep more of what they make. As a CPA, I work with many different business types to put tools in place that build wealth outside of…