Justin Goodbread is an award-winning speaker, best-selling author and entrepreneur with over 30 years of experience. He coaches business owners on scaling, building value, and achieving profitable exits.

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Guest Resource

The Value Growth Academy – Reclaim your FREEDOM, increase your INCOME and exponentially grow your company’s VALUE with The Value Growth Academy’s expert guidance and proven strategies.

3 Value Bombs

1) Generational wealth is created in a short period of time and not over decades. It is not like a slow growing oak tree but more of a lightning strike that reshapes everything with intense focus and energy.

2) The freedom formula that every business owner can do is first identify the value of their company.

3) As business owners, we are our worst enemy. Were willing to do the hardwork but not the difficult work and that is finding somebody to hold us accountable.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Beyond the Grind: Creating Radical Value and Wealth for Business Owners.

[1:13] – Justin shares something that he believes about becoming successful that most people disagree with.

Generational wealth is created in a short period of time and not over decades. It is not like a slow growing oak tree but more of a lightning strike that reshapes everything with intense focus and energy.

[2:03] – Justin talks about the financial realities most business owners face.

He realized that 80 % of his networth is tied up in his business and that he has to provide income and perpetuity to create equity.
He discovered that only 20-30% of small business owners transact their business from illiquid asset to a liquid asset and it means that in 7-8 years , $8 Trillion of pent up equity that business owners have will be lost.
Upon hearing knowing that, he had to raise the warning flag and let business owners know where they can invest their asset and build it properly so they can live in freedom and perpetuity.
It change his way of growing his company and he raise awareness of how to make it a generational and monumental acting wealth.

[3:44] – Justin gives an advice for these entrepreneurs.

You have to look at your business as an asset and as your baby.
Business is a wealth creation tool. You need to shift your paradigm by looking at your statistics and assets.
His first warning to business owners is to take a step back and look at their business as a wealth creation tool and then move to understanding on how to turn that tool to create a generational wealth for them.

[5:38] – Justin talks about the *Five Stages of Value* that business owners need to understand if they want to avoid becoming part of these dismal statistics.

He was a professor in Exit Planning Institute and he taught these stages to coaches, financial advisors and CPAs.
The 5 stages are – identify the value of your business, protect that value, build that vaule, harvest that value and manage that value to achieve your goals.

[7:27] – Justin talks about the ‘Value Gap’ and the ‘Wealth Gap.’

Wealth gap is at what price point does your business need to be that you can liquidate it or take a partial liquidation and put enough money on your account or asset to provide for your lifestyle for the rest of your life.
As business owners, your current networth, not including your business, is your starting point and your end point is the place you need to be. The gap in between is achieve by the growing value of your company , taking that value and making it attractive to buyers or investors to help you pay that money to close that gap.
Once you identify that wealth gap, it will lead you to the value gap which is how much value is in your company.
As entrepreneurs, you have to first decide your company’s worth in order for you to reach your long term goals. That is the wealth gap. How much value is locked up inside your company that you if you make the quality of the company greater for investors to buy it is the value gap.

[12:18] – A timeout to thank our sponsors!

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Optimize: To chat with JLD about Optimizing your life, click here: EOFire.com/optimize.

[14:33] – Justin walks through the *Four Steps* that a business owner must take to create radical value in their business.

The freedom formula that every business owner can do is first identify the value of their company.
In every company, there are 8 primary areas of business. They are planning, leadership, sales, marketing, people, operational efficiency, finance and legal.
The 8 primary drivers for each of these areas are: dependency risks, profit history and reporting, sustainable revenue streams, client loyalty and retention, cash flow stability, expansion opportunity, market depreciation and operational independence.
There are 64 main value drivers of the business that can tear our business apart or drive our business forward.
The process that will help you go from a start up business to an 8 figure exit in 49 months is identifying your value gap using the 8 square methodology and affect change that is not only expected but is also probable. Everything should be value focus.
His first 3 moves in his freedom formula is identifying his value gap by using the 8 square methodology and he motivated his team and himself to inact change and having someone who is going to hold him accountable.
As business owners, we are our worst enemy. Were willing to do the hardwork but not the difficult work and that is finding somebody to hold us accountable.
When he discovered his freedom formula, he hired a business coach and it literally took his start up into an 8 figure exit in 49 months by simply doing these 4 steps.

[21:10] – Justin talks about the top principles that got him to where he is now.

The first success principle that allows us to grow is our mindset.
The second is the process. Success leaves a trail of breadcrumbs and if we find a process, a system or a methodology that will allow us to reach our desired outcome then we can follow that process.
Third is taking a step back and change our mindset on how our wealth or success is created. Gone are the days that we have to work as business owners for 20-30 years in order to have freedom. As long as we have the methodology and coach that will hold us accountable, it can be done in 18-49 months.

[24:54] – Call to action

The Value Growth Academy – Reclaim your FREEDOM, increase your INCOME and exponentially grow your company’s VALUE with The Value Growth Academy’s expert guidance and proven strategies.

[28:10] – Thank you to our Sponsors!

HubSpot: When you combine the power of Marketing Hub and Content Hub, you can have your best quarter, every quarter. Visit Hubspot.com/marketers to learn more!
Optimize: To chat with JLD about Optimizing your life, click here: EOFire.com/optimize.

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!