Fred Parrish is helping small business owners figure out the numbers that help them run their business. Too often, financial professionals like accountants, CPAs, and controllers churn out numbers that don’t make sense to the business owner and that don’t help them make sound decisions for their business. Fred is revolutionizing the industry with his Profit Experts Predictive Management Platform that helps business owners model the outcome of decisions they make so they can make better decisions, faster. He’s taken it one step further with the Profit Beacon tool, which automates this process to make the system even easier for business owners to use. Tune in to find out more!

 

Key Takeaways:

[:19] John introduces his guest for this episode — Fred Parrish.

[1:57] What does Fred do?

[4:08] Fred’s tool can model the outcomes of decisions to show if they will have good or bad outcomes, very quickly.

[5:59] Fred and John discuss this massive need among entrepreneurs for financial data that they can use to run their business.

[9:44] John shares his first experience looking at what Fred’s software could do.

[11:51] Fred has an example of how his Profit Experts Predictive Management Platform works.

[18:30] Fred explains why controllers, accountants, and CPAs are not going to be able to tell you what your numbers mean.

[24:35] John compares this situation with accountants and paying taxes.

[27:10] Fred highlights another aspect of why it’s important to manage decisions, and know how to do that in the future when things change.

[30:40] Fred dives into some of the details of the Profit Experts services.

[31:40] John and Fred discuss the economic toll of business failures, and the importance of being able to look at things differently.

[35:36] John gives a shout out to SmartVault, sponsor of the podcast.

[36:55] How is Profit Beacon disrupting the Profit Experts business model?

[41:41] John gives an example from his company about how understanding the numbers helps manage the company better.

[43:11] Profit Beacon helps companies break down expenses into different categories in a way that’s easily understood and it’s automated.

[46:03] What does Profit Beacon cost? What does this mean for the future of the accounting and CPA industry?

[55:58] Fred just jointly released a book with Michael Gerber called The E-Myth Chief Financial Officer.

[1:01:03] Get a copy of Fred’s book on his website and also learn more about him and his work!

Mentioned in This Episode:

Fred Parrish

The Profit Experts

The Profit Beacon

AICPA

The E-myth Chief Financial Officer, by Fred Parrish and Michael Gerber

Scott Winters is the CEO and Co-Founder of FA Mentor, a company that focuses on helping financial advisers create a business that can produce massive and sustainable growth. Something that is severely lacking — not just among financial advisers — is knowledge of how to run a business. With his years of experience in the industry, this is exactly what Scott is helping his clients with, by providing individualized evaluations of their strengths and weaknesses and specific advice on execution. Tune in to find out more about how Scott is mentoring financial advisers in Business 101.

Key Takeaways:

[:19] John introduces his guest for this episodeScott Winters.

[2:19] John and Scott discuss how business owners may be good at one aspect of their business, but not others.

[5:16] Where does FA Mentor come in with regard to advising financial advisers on how to set up their business?

[8:59] What does Scott mean when he says someone is underemployed?

[13:54] John and Scott discuss the importance of playing to your strengths rather than improving your weaknesses.

[16:35] What are Scott’s processes for assessing someone’s weaknesses? He explains using the Quantum Leap Success Number.

[20:03] The idea of scale is lost on most financial advisers. John and Scott share anecdotes illustrating this from their personal experience.

[23:02] Scott’s company is focused on helping financial advisers drive that massive and sustainable growth in an individualized manner.

[25:32] How does Scott deal with advisers who take excessive care with their portfolios?

[31:36] John gives a shout out to SmartVault.

[33:23] Scott explains more about how the Weakness Resolution ties in with the Quantum Leap Forward Number.

[37:59] John shares some insight into how easy it is to build a business with all the tools technology offers.

[41:42] Scott explains some of the challenges that come with the execution phase, and how having a coach can help with successful execution.

[49:36] Get in touch with Scott via his website to find out more!

Mentioned in This Episode:

Scott Winters on LinkedIn

FA Mentor

FA Mentor Process

Strategic Coach

SmartVault (Use the Discount Code “TaxMasterNetwork” to save 15% for the entire first year.)

FINCON Expo

Scott Ayres is a Content Scientist at Agorapulse, a social media management company, that also focuses on doing experiments and research into what works and what doesn’t on social media. Scott breaks down some of the common myths he has busted in the social media marketing sphere and shares some recent experiments he has conducted that have produced surprising results. John and Scott also discuss the effectiveness of marketing strategies, and why it’s so important to be where your ideal clients are, instead of spreading yourself thin across all channels. Tune in to find out more!

 

Key Takeaways:

[:21] This podcast is sponsored by SmartVault!

[:49] John introduces his guest for this episode Scott Ayres.

[1:35] What does Scott do?

[4:18] What’s the history behind the name Agorapulse?

[5:53] What exactly is a content scientist?

[8:28] John and Scott discuss a strategy or technique being 60% effective vs. being 95% effective.

[10:24] Scott shares some of his recent experiments with surprising findings Instagram hashtags, the carousel feature on Instagram, and features on Facebook.

[20:28] Technology is evolving so quickly that Scott’s role didn’t even exist ten years ago and marketers have to keep up with these changes.

[24:51] John deconstructs some of the business decisions of MoviePass and the problems that came up when people tried to hack the system.

[28:06] What are some ideas Scott has tested that have stunned him with the results?

[33:40] John gives a shout out to SmartVault and how it has positively impacted his company.

[35:40] What services does Scott offer to clients?

[40:18] The search economy has drastically changed the mindset of businesses to try to be in the path of what people are searching for.

[45:41] Find out more about Scott, his company’s product, and the work that he does at the Agorapulse website and on social media.

 

Mentioned in This Episode:

SmartVault

Scott Ayres on LinkedIn

Agorapulse

Social Media Lab by Agorapulse

Agorapulse on Facebook

Agorapulse on LinkedIn

Agorapulse on Twitter

Agorapulse on Instagram

MoviePass

Hootsuite

Inbound (Conference)

Ryan Enk is a part of the real estate industry and he helps people create businesses from nothing, into a sustainable, passive-income generating business. After Hurricane Katrina hit New Orleans, Ryan was left with literally nothing, and had to start from scratch to rebuild his life and create an income to sustain his family. He shares how he started his real estate business to get himself out of that tough spot, and how his business works to generate multiple paydays with the same piece of real estate. Tune in to find out more about how he Ryan creates passive income from his business, and get some tips on how you can too!

 

Key Takeaways:

[:18] John introduces his guest for this episode — Ryan Enk.

[1:24] This episode is sponsored by SmartVault.

[1:49] What does Ryan do?

[2:19] John’s pet peeve with the real estate industry is info-marketing that sell programs to people. Ryan addresses this issue.

[8:50] How did Ryan start working on synthesizing the steps to real estate investment?

[11:53] Ryan explains how he maximized the number of paydays he gets out of a piece of real estate.

[15:36] Ryan and John discuss the tax aspect of real estate investment.

[19:48] Ryan’s specialization is in using options.

[22:25] How does Ryan finance his options?

[28:35] How does the passive income portion of Ryan’s business work?

[33:50] What is Ryan’s course and how does it work?

[38:13] Ryan and John discuss the entrepreneur’s curse.

[46:16] What are some technologies that Ryan uses to help him manage his business?

[52:04] Check out Ryan’s book, The 7-Day Real Estate Survival Blueprint.

[56:18] Visit Ryan’s website for more information, and check out his podcast as well.

 

Mentioned in This Episode:

Ryan Enk

CashFlow DadLife Podcast

Financial Gravity Podcast “Episode 28: Tom Wheelright — Reducing Taxes is Your Moral Obligation!”

The 7-Day Real Estate Survival Blueprint: How to Create $10,000 Out of Nothing in Less Than a Month, by Ryan Enk

Alone (TV Series)

SmartVault

Podio

Trello

SmartSheet

Basecamp

Carl Allen is the CEO and Founder of Ninja Acquisitions, a company which focuses on buying  small businesses, growing them and then selling them — all without investing any personal capital. Carl explains what he looks for in the businesses he buys, the sellers he buys from, and how to negotiate a great deal. With 2.44 million small businesses for sale in the U.S. today, Carl is definitely capitalizing on the business of business. Tune in to find out more about the opportunity and feasibility of buying firms in different industries, and how you can get in on the action too.

 

Key Takeaways:

[:18] John introduces his guest for this episode — Carl Allen.

[:35] What does Carl do?

[2:06] Carl compares what he does to flipping real estate.

[5:32] Carl explains more about the distressed seller psychology.

[7:30] What does Carl look for in the businesses he buys? How does he run the businesses he buys?

[11:13] How does Carl assess the capabilities of the company’s staff in running the business?

[13:16] What does Carl focus on when buying businesses? He shares an example of a deal he’s currently working on.

[18:24] Carl and John discuss the feasibility and opportunity in buying accounting firms and how Carl negotiates deals.

[25:31] John gives a shout out to the sponsor of the show, SmartVault.

[26:20] How does Carl deal with paying the seller with the cash flow from the business and how does the seller know the business is going to remain profitable?

[31:15] John and Carl discuss how they deal with sellers who want to sell their businesses for its future worth.

[34:28] John shares an analogy about Carl’s business. How does Carl transfer his expertise to business owners?

[36:51] Carl explains how his efforts in deconstructing his process helped make him a better deal maker.

[41:24] Why does Carl do what he does?

[44:02] Check out Carl’s 90-minute masterclass for free and get in touch with him to find out more.

 

Mentioned in This Episode:

SmartVault (Use SmartVault.com discount code “TaxMaster” for 15% off your entire first year of service!)

Carl Allen

Ninja Acquisitions

90 Min Masterclass with Carl Allen

Kolbe

Culture Index

Abundance 360 Conference

Never Split the Difference, by Chris Voss

Financial Gravity Podcast Episode: “Special Report — What Went Wrong For Us This Tax Season”

Stacey Randall is all about the referrals and even more incredibly, she teaches her clients how to get referrals without asking for them. Stacey started out in the corporate world and eventually moved into the entrepreneurship space, and gained a wealth of experience about getting referrals along the way. She and John discuss the importance of relationship building and why it’s so important to differentiate yourself by finding a niche either in the product or service you offer or by how you deliver the product or service. Tune in to find out more about how you can grow your business through referrals without asking!

 

Key Takeaways:

[:19] John thanks sponsors SmartVault.

[:53] John introduces his guest for this episode — Stacey Randall.

[2:15] What was Stacey’s journey like from corporate to entrepreneur.

[9:41] What type of entrepreneur is Stacey — lifestyle entrepreneur or achievement entrepreneur?

[11:08] Stacey shares her experience of going back to a corporate job after her business failed.

[15:21] Stacey discusses finding her niche as a productivity coach, and how that led to her wanting to grow by referrals.

[19:41] Stacey makes a difference between asking for referrals and getting referrals.

[23:02] What kind of resistance has Stacey encountered from people with scarcity mindsets?

[26:16] What are some of John’s hangups on referrals?

[30:05] People don’t buy from a company, they buy from people. Stacey highlights the importance of relationships in business.

[35:48] You need three plans when you’re trying to grow your business.

[36:48] Stacey’s program attracts people who are good at solving problems but realized they needed to also know and understand sales.

[40:32] Make clients want to talk about you.

[44:35] The second way to be referable is to figure out how to be different by how you deliver your product or service.

[47:36] Once you’ve built a process or algorithm that creates a certain type of output, you can show that it works and build your credibility.

[55:02] Get in touch with Stacey through her website or take on her 7-day challenge.

[56:35] What are some apps and tech Stacey uses?

 

Mentioned in This Episode:

Stacey Randall

7-Day Challenge

Entrepreneurs’ Organization

Blue Ocean Strategy

Dan Sullivan

Way of Life

Headspace

Ed Lyon, Financial Gravity’s Chief Tax Strategist, joins John on this episode to discuss their newest venture — Tax Master Network. John and Ed discuss the birth (and death) of Tax Coach and how that eventually paved the way for Tax Master Network. They also dive into the impact technology has, and will have, on jobs and particularly the accounting industry as well as the risks associated with taking a short-term view to any job or industry. How does Tax Master Network address these concerns and create incredible value for clients? Tune in to find out!

 

Key Takeaways:

[:18] John introduces his guest for this episode — Ed Lyon.

[1:34] John shares a little about Financial Gravity’s new sponsor, SmartVault.

[2:23] How did Tax Coach come about?

[6:54] Ed and John discuss info-marketing and the different segments of the market that it works for.

[11:25] Ed gives an analogy to explain his tax planning process.

[16:40] What was the evolutionary process that led to the Certified Tax Coach info-marketing business being built on top of the existing Tax Coach software?

[20:10] John gives an example from his experience where having the right tools and information doesn’t necessarily translate into results.

[24:00] The accounting industry is in jeopardy.

[26:40] There is a history of technology being used to do jobs more efficiently and in the future, to take over certain jobs entirely.

[34:04] There are risks associated with adopting a short-term view of your position in an industry.

[43:04] Why did John and Ed choose the name Tax Master Network?

[48:05] What is Tax Master Network all about?

[52:43] John and Ed discuss the additional benefits Tax Master Network provides its clients.

[1:04:53] Tax Master Network, in its partnership with Financial Gravity, will be able to provide its clients much more than it could previously under Tax Coach.

 

Mentioned in This Episode:

SmartVault [Use the discount code “TaxMasterNetwork” for 15% off your entire first year of service!]

Ed Lyon, Chief Tax Strategist

Tax Master Network

Dan Kennedy

American Institute of Certified Tax Coaches

Tax Coach

Certified Tax Coach

Humans Are Underrated: What High Achievers Know That Brilliant Machines Never Will,
by Geoffrey Colvin

Terri Johnson is the CRE and Partner at Capstan Tax Strategies, a company focused on working with owners of real estate and CPA firms to save money on taxes by accelerating the depreciation on real estate. Terri shares more about her “corporate divorce” and how she has managed to maintain good relations with the parent company, as well as how her business benefits real estate owners, particularly with the changes in the tax code. Terri and John also discuss changes in technology and social media and its impact on businesses, so tune in to find out more!

 

Key Takeaways:

[:19] John introduces his guest for this episode — Terri Johnson.

[1:27] What does Terri do?

[4:55] Terri had a different business previously that branched off into her current business. How and why did that happen?

[8:59] Terri shares her experiences with making the tough decisions and going through a “corporate divorce” and their outcomes.

[12:48] John and Terri discuss the circumstances or events that bring about change in a company.

[16:45] John shares his troubles with social media and how it’s impacting his business.

[20:42] Terri describes how her company has managed to maintain an amicable relationship with the parent company.

[22:14] Changes in technology have resulted in more outsourcing and better access to talent.

[24:33] Terri talks about how she helps people accelerate the depreciation on their buildings, and how changes to the tax code have enhanced that.

[27:59] John and Terri illustrate the benefit of accelerated depreciation with an example and how that’s played out in the past few years.

[35:12] John highlights the importance of having a common language to discuss personality differences.

[37:22] What is the engineering study and why is it relevant?

[41:02] John gives a shout out to SmartVault.

[43:38] Terri shares her beginnings in the industry, and how Strategic Coach helped her and John in their journeys.

[49:43] John shares his plans to work with Terri in the future.

[51:05] Get in touch with Terri via phone, email or her website!

 

Mentioned in This Episode:

Terri Johnson on LinkedIn

Capstan Tax Strategies

Call Terri Johnson: 215 885 7510

Email Terri Johnson

Strategic Coach

Financial Gravity Podcast — “Episode 88: John Matheson — Revolutionizing the Commercial Loan Process”

Financial Gravity Podcast — “Episode 28: Tom Wheelright — Reducing Taxes is Your Moral Obligation!”

Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward, by Henry Cloud

Entrepreneurs’ Organization

Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy, by George Gilder

Financial Gravity Podcast — “Episode 91: Special Report — The Changes in Financial Gravity”

Financial Gravity Podcast — “Episode: Special Report — What Went Wrong for Us This Tax Season”

Design Pickle

Kolbe

Culture Index

Financial Gravity Podcast — “Episode 42: Jason Kos — Growth Through Human Analytics”

SmartVault [Use SmartVault.com discount code “TaxMaster” for 15% off your entire first year of service!]

Nick Nanton, award-winning director and founder of Celebrity Branding Agency, is back as a guest on the show. Since the last time he was on, Nick’s business has grown immensely and has attracted a lot of competitors. Nick and John discuss how his business has changed because of this and the challenges that entrepreneurs in general face. Nick also shares more about his work with Operation Underground Railroad and how his career trajectory has changed over the years. Tune in to find out more!

Key Takeaways:

[:19] John introduces his guest for this episode — Nick Nanton.

[1:06] How has Nick’s idea for a celebrity branding agency grown over time, and how are other people replicating it? What does that mean for his business?

[8:24] Nick shares why competition is normal, and why being different is better than being better.

[10:58] Being an entrepreneur can make you feel like you’re the only one facing problems, but the reality is you’re not. Nick shares a personal anecdote highlighting this.

[14:23] John talks about the dissatisfaction that comes with being a successful entrepreneur.

[16:56] It is important for entrepreneurs to surround themselves with other like-minded people.

[19:23] John gives a shout out to SmartVault.

[22:20] What was Nick’s thinking behind doing a biography for Peter Diamandis with his own money, and the explosion that resulted?

[28:54] How does Nick tackle the difficulty and challenges that come with raising money for his project with Operation Underground Railroad (O.U.R)? How did the project come about? Nick shares some of his experiences being involved in O.U.R.

[42:04] Nick and John discuss his career arc and his achievements along the way.

Mentioned in This Episode:

Nick Nanton

“The Financial Gravity Podcast Episode 13: Nick Nanton — Celebrity Branding Agency”

Fascinate, by Sally Hogshead

Entrepreneurs’ Organization

Dan Sullivan, Strategic Coach

Extraordinary Impact Filter, by Dan Sullivan

Finish Rich books, by David Bach

Microsoft Dynamics

SmartVault [Use SmartVault.com discount code “TaxMaster” for 15% off your entire first year of service!]

Peter Diamandis

BOLD: How to Go Big, Create Wealth and Impact the World, by Peter Diamandis
and Steven Kotler

Abundance: The Future is Better Than You Think, by Peter Diamandis and Steven Kotler

Russell Brunson

Operation Underground Railroad

Operation Underground Railroad Documentary

Kirk Conole is one of the partners and the Chief Operating Officer of DCI Solutions, a cost and tax credit specialist. DCI Solutions operates on a very unique business model that focuses on cost-cutting and cost-containment for clients, and Kirk explains the ways in which his business helps clients make money by saving money. Kirk and John also discuss strategies for approaching networking conversations, and why it’s so important for businesses to really understand and connect with their clients. Tune in to find out more.

 

Key Takeaways:

[:17] John introduces his guest for this episode — Kirk Conole.

[2:19] At networking events, Kirk’s strategy is to really understand and connect with the people he meets in order to identify their true nature and essence.

[11:27] John’s purpose for this podcast is to share entrepreneurs’ stories to show that not everything is glitz and glamour.

[13:05] How does Kirk transition from listening to someone’s story to sharing how he can make it better for them?

[20:02] Kirk shares an anecdote about his appearance on a TV game show and how it relates to what he does.

[27:36] John and Kirk discuss why their children think they’re heroes — hint, it’s not because of their amazing businesses.

[28:34] What can Kirk offer business owners? The jump from great to greater.

[32:30] Kirk shares more about what the cost-efficiency dashboard is and how it helps business owners save money.

[33:58] Who is Kirk’s target market?

[37:42] Kirk explains the other two qualities that help people to succeed, and how they relate to business.

[43:25] John and Kirk delve into the topic of tax credits and how they apply to help businesses save money.

[48:03] How does Kirk overcome the problem of employees not being invested in or enjoying the benefit of the changes necessary for the betterment of the company or business owner? It comes down to priorities.

[56:01] John highlights the difference between DCI’s business model and other typical business models.

[1:01:01] Kirk explains the growth chart he presents to business owners to show them the level of savings they can enjoy.

[1:07:43] Do check out the links for more information on what Kirk does and get in touch so that Kirk can help you grow your business.

Mentioned in This Episode:

DCI Solutions

Financial Gravity Podcast Episode: “Special Report — What Went Wrong for Us This Tax Season”

Financial Gravity Podcast “Episode 91: Special Report — The Changes in Financial Gravity”

A Curious Mind: The Secret to a Bigger Life, by Brian Grazer and Charles Fishman

Influence: Science and Practice, by Robert Cialdini

Are You Smarter than a Fifth Grader?

“Financial Gravity Podcast Episode 13: Nick Nanton — Celebrity Branding Agency”

DCI Cost Efficiency Dashboard

DCI Roadmap

DCI Growth chart

SmartVault