Justin A. Goodbread, CFP®, CEPA®, CVGA®, owner of Heritage Investors, Heritage Business Advisors, and Financially Simple, is a nationally recognized financial planner, educator, wealth manager, author, speaker, and entrepreneur. Using his 20+ years of experience starting, buying, selling, and owning businesses, Justin has dedicated his career to helping fellow business owners increase and manage the value of their businesses and personal assets so that they can live the life of their dreams, now and in the future.
In 2016, Justin launched the Financially Simple enterprise – a financial blog, podcast, video, and education portal – to simplify complex financial concepts for small business owners. Through Financially Simple, Justin uses his skills to guide business owners through business sales, mergers, or buy-outs, ultimately preparing them for the next chapters in their lives. His work in Financially Simple has catapulted Justin into the national press where his name appears in many national media venues as well as in a litany of written publications such as Kiplinger, Forbes, and Investopedia.
Justin’s ability to make complex financial concepts “financially simple” has earned him the Exit Planning Institute’s Exit Planner Leader of the Year and three consecutive Investopedia Top 100 Advisor awards. Justin also speaks regularly about business at national conventions, trade associations, business events, and seminars around the nation.
What is the Financially Simple Podcast about?
The podcast is designed to teach business owners how to be successful. I don’t mean successful in the way that business owners typically view success, through profits, etc. Instead, we try to teach them how to take control of their businesses. As business owners, we don’t have to be beholden to or enslaved by our businesses.
Statistically speaking, only around 14 to 15 percent of business owners ever sell their businesses. What this tells me is that most business owners put all of their efforts, their lives, into a business that they will eventually have to shut down or give away. That’s why we strive to educate business owners on how to build a business that someone would be interested in purchasing from them.
Tell us about your personal background and how/why you started a podcast?
I grew up near the ocean in South Georgia in a little town called Brunswick. I was homeschooled for most of my life and that afforded me the ability to do things most can’t because of the rigid schedule of the public school system. As a result, I was able to start my first business at the tender age of fifteen.
In my early twenties, I sold that business. Afterward, I began another business which I also sold. Once again, I began and sold a business, the third one before reaching the age of thirty. So, when I began Financially Simple, I was looking to fill a void. It seemed that there were many business podcasts but none of them were academic in nature. Those that were academic were being produced by people who didn’t have any practical, real-world, experience.
So, there I was, a business owner who had already started and sold three businesses for profit, with a vision to share with other business owners. What I wanted to share with my fellow business owners was that we can be business owners without being enslaved by our businesses. That passion and vision led me to launch the Financially Simple Podcast.
What were the biggest problems you encountered when launching your podcast? How did you overcome them?
I am not a tech-oriented guy. I don’t understand a lot of the equipment that’s needed or what it does. Many of the podcasters that have created large platforms dive into the technological side of the industry. I never did that. I felt that there were better uses for my time than trying to learn all there is to know about the latest and greatest podcast gear and software.
Therefore, in order to overcome that barrier, I hired someone knowledgeable about all of these things. They installed all of the equipment and software, and they did all of the testing to ensure everything was performing perfectly. I did the same thing for pre and post-production. I have a team that works very hard to ensure the quality of each episode.
How do you stay driven and motivated to keep going in your business and in your podcast?
If you’re a true entrepreneur, then motivation is never a problem. Individuals that seek motivation probably shouldn’t be entrepreneurs because entrepreneurs, as a whole, are used to defeat. So, the way that I stay driven is that I know where I want to be. As Jim Collins said, in his book, Good to Great, I have big, hairy, audacious goals.
I believe that we are being prepared for what we have been prepared for. Because I believe that I have been made to do great things, I think I am being prepared for something amazing. Therefore, I believe that the podcast is the catalyst that will help me achieve the goals and dreams that I have.
What’s the one thing you wish you knew before starting your podcast?
I wish I had known the sheer amount of time and energy that it would take to record a single episode. Because of the nature of my podcast, each episode is around 18 to 25 minutes long. During that time, I try to explore very complex business and financial subjects while keeping things simple. I want to explain each subject in a way that anyone can understand.
All of this requires anywhere from 2 to 5 hours of research, planning, and writing for each episode. So, candidly, I had no idea how much time went into a 20-minute show.
What is your definition of success, as a podcaster?
I think it’s interesting to ask for the definition of success within this framework. I view success as doing everything you can do to impact those whom you have the honor and duty of impacting.
In my personal life, that’s my wife and kids. In business, it’s my clients and the people who listen to the podcast and subscribe to my teaching. So, from a podcaster’s perspective, I believe success is the ability to maximize the influence that I have to share knowledge and wisdom and to challenge the standard perceptions that people have.
Some may measure success by subscribers and monetization, but I measure success by the testimonials of my listeners. When I receive an email telling me that they listen to the show and the principles that they’ve learned have changed their lives, that’s true success.
If you had to start a brand new podcast today, what steps would you take?
I’d probably approach it in the same way that I approached this podcast. I would begin by listing my target market or audience. In my case, that’s small business owners. Next, I would find technicians to help me. They would fill the same roles of the team I currently have. They’d handle the gear and software installations, editing, etc. Then I’d hire a writer to help me organize my thoughts. So, I’d basically do the same thing. However, I would probably do a little more marketing on the front end than I did with the Financially Simple Podcast.
What is one piece of advice that you would give to aspiring and new podcasters?
Don’t quit. If you really have something to give, a story to tell, wisdom to impart, don’t quit. You can never stop learning. You must be a student of life. If you become a student of life, you’re going to quickly excel beyond those who do not. As you go through life and each of its lessons, share your experience.
Life is going to get hard. There are moments of great frustration. However, if you’ve got a story to tell, you never know how it might impact another individual. Don’t quit.
How can readers get in touch with you?
You can reach me by visiting FinanciallySimple.com or connect on social media Instagram and LinkedIn.
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