Category Archives: Podcast

GMB Ep #148: Using Entrepreneurship For Good With AnnMaria De Mars

Entrepreneurship is one of the best ways to change the world around us, and there’s a lot to learn from entrepreneurs who are building businesses that solve problems that exist in their communities. This week on Grow Money Business we’re joined by AnnMaria De Mars, the founder and president of 7 Generation Games, an educational software company that focuses on creating video games to teach math to kids and students. Throughout the episode, we dive into AnnMaria’s journey and how she’s using entrepreneurship to create a positive impact on the world.

 

 

Show Notes

[02:30] From Academics to Entrepreneurship – AnnMaria shares how her interest in mathematics helped her evolve into a serial entrepreneur.

[11:22] Video Games – AnnMaria explains what led her to start her venture in creating video games to teach mathematics.

[19:31] Solving Problems – AnnMaria shares what motivated her to develop businesses in a way that solves problems and helps people in rural communities.

[24:32] Building the Business – AnnMaria discusses how she gathered the required funding and other resources to build her business.

[28:38] Current Progress –AnnMaria describes her organization’s current performance, growth, and plans for the future.

[34:43] Sports – AnnMaria is a national champion in Judo. We talk about how she got into Judo and the profound impact of sports on her life and the lives of her children.

[46:31] Business and Life –AnnMaria explains how her risk tolerance evolved with her personal priorities.

[51:22] Fundraising for Startups – AnnMaria shares some of the ways startups can raise money with the help of people in a community.

 

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GMB Ep #143: The Back to Front of Cryptocurrency Taxation With Micah Fraim

Cryptocurrency as an investment is relatively new, especially compared to other investment vehicles such as stocks and bonds. Because of this, there is a lot of confusion and a lack of guidance around how taxation applies to cryptocurrency-based investments. This week on Grow Money Business, we are joined by Micah Fraim, a Certified Public Accountant who specializes in crypto taxes. Throughout the episode, we take a dive deep into the tax aspect of cryptocurrencies, NFTs, and other blockchain-based assets.

 

 

Show Notes

[02:01] Getting to Know Micah – We start the conversation with a brief look at Micah’s career and how he got into his current line of work in taxation for cryptocurrency.

[04:12] Taxation for Crypto – Micah dives into the limitations of our current tax system in relation to cryptocurrency and  virtual assets, as well as some of the attempts that have been taken to introduce legislation related to cryptocurrencies.

[10:45] Tax Basics – Grant and Micah discuss some of the most basic tax concepts related to investments and how they apply to cryptocurrencies.

[15:47] Opportunities – Micah shares some of the opportunities that arise along with a crypto bear market.

[25:31] NFTs – Micah explains the current tax code’s application to NFTs and how the wide range of use cases available for NFTs will call for more advanced tax rules.

[30:44] Play-to-earn Games – Micah shares his thoughts on how games are introducing new in-game economies and how they are connected to crypto investments.

[35:38] Tracking Crypto Transactions – Micah discusses how to track crypto transactions across multiple trading platforms for taxation purposes.

[42:06] Audit Risks – Micah dives into the risks that could arise from irregularities in crypto transactions that are reported to the IRS.

[44:41] Crypto as Payments – Grant and Micah discuss some important considerations for business owners who are accepting payments in cryptocurrencies and how it may affect business operations.

[50:00] Future of Crypto – Micah shares his thoughts on how cryptocurrency projects may evolve in the near future, as well as how the regulations may be adjusted to match the innovations in the crypto space.

 

 

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GMB Ep #142: Using Pricing Strategy to Create Business Value

Pricing is a potent tool that businesses can use to increase profitability as well as the value of the company. However, at times, increasing the price of a product or service can be scary for a lot of small businesses. This week on Grow Money Business, we have a fascinating conversation with an expert in pricing, Robert Ribciuc. Robert is the managing partner of EBITDA Catalyst, a firm that helps businesses improve their pricing strategy. Throughout the episode, we dive into why pricing strategy is important to businesses of all sizes and some of the key things business owners should consider when setting prices for their products and services.

 

 

Show Notes

[02:37] Robert’s Story – We start the conversation with a brief look at Robert’s career journey, what led him to start his firm, EBITDA Catalyst, and how it helps businesses improve their pricing strategy.

[04:57] Impact of Pricing – The role pricing plays in the success of a business and how it impacts the valuation of the company in the long term.

[11:59] Acquisitions – Robert shares his thoughts on how the pricing strategy of a business comes into play in an acquisition.

[16:25] Pricing in a Competitive Market – For small businesses in very competitive markets, increasing the price of goods or services can be scary. Robert dives into how to identify good opportunities for higher prices and how to deal with the anxiety that comes with it.

[21:23] Pricing and Cost – What business owners should consider when adjusting pricing to compensate for the costs that have gone up.

[29:47] Value Proposition and Pricing – How business can adjust their pricing in a way that generates maximum returns according to the value provided to the customer.

[34:07] Mission-driven Pricing – Robert shares his take on the unique opportunity that smaller businesses have to optimize their businesses towards goals and causes other than just profit.

[37:00] Evaluating Value – What business owners should consider when evaluating their value proposition in turbulent market conditions.

[41:19] Monetizing Innovation – Robert shares his thoughts on pricing for new products or services.

[46:40] SMB Bootcamp – Robert shares his excitement about his Small and Medium Business Pricing Bootcamp, while discussing some of the most rewarding aspects of working with entrepreneurs.

 

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GMB Ep #141: A Venture Capital Vet’s Building Blocks For Success

This week on Grow Money Business, distinguished guest Rick Dennen joins us. Rick is Chief Corporate Banking Officer at First Financial Bank and the founder of Oak Street Funding. Having evaluated hundreds of business deals over his decades-long career, Rick has a lot of knowledge and experience in venture capital. In today’s episode, we dive into what business owners should keep in mind when funding their business ventures with debt or equity.

 

 

Show Notes

[02:49] Rick’s Story – We start the discussion with a brief look at Rick’s career and how he started Oak Street Funding.

[07:52] Working with Banks – When Rick started his firm in the early 2000’s, banks were reluctant to lend to service-based businesses even though they had positive cashflows. We dive into the reasons behind this behavior and how things have changed after two decades.

[11:35] Recent Market Shifts – Rick shares his thoughts on how the M&A market is responding to the recent changes in the economy.

[15:28] Debt vs. Equity – Rick explains what business owners need to consider when deciding between taking on debt and looking for an equity partner.

[21:29] Lessons for Businesses – Rick shares some key takeaways about funding and the growth of a business.

[24:48] Evaluating Businesses – How Rick approaches evaluating a new business idea and the metrics used for measuring performance.

[27:15] Business & Parenting – Rick is the father of three children in their early 20s. We talk about how they are involved in business and why Rick approaches business-related conversations with his children.

[34:48] What’s Next for Rick – We talk about Rick’s area of focus and future plans for his new role at the bank.

 

Resources

GMB Ep #140: Here’s Exactly What To Do With Your Old Life Insurance Policy

In our financial planning firm, we come across many people who are raising the question of whether or not their old insurance policies are worth maintaining. However, it is important to know that there are certain ramifications and complexities are associated with getting rid of an insurance policy. In this episode, Grant dives deep into important considerations related to choosing, maintaining, or terminating insurance policies.

 

 

Show Notes

[02:28] Purpose of Insurance – Grant discusses the purpose of insurance policies and how they create a safety net for you and your loved ones.

[05:50] Do You Really Need Insurance? – Grant explains how to determine whether you really need life insurance, given the nature of your existing insurance policies, your financial status, and income streams.

[09:08] Types of Insurance – Grant describes the two main types of life insurance and how to determine which is the right type of policy for you.

[13:00] Cost Breakdown – Grant explains the cost breakdown of insurance policies.

[17:01] What to do With a Permanent Policy – Grant shares some options for people who no longer need their permanent policy.

[28:33] The Right Option – Grant explains how he helps clients decide which option is best depending on their financial status and goals.

[31:59] Insurance Products That Actually Make Sense – Grant shares his take on some of the legitimate use cases for some common insurance products.

 

Resources

GMB Ep #139: Using Financial Data to Manage Your Small Business with Anne Gannon

Data-driven decisions are a key factor in the success of any modern business. Although larger businesses tend to be very good at making data-driven decisions, this isn’t always the case for small business owners. This week on Grow Money Business, we speak with a professional who helps small businesses use the financial data that they can have at their fingertips to make better decisions. Anne Gannon, the principal and the founder of The Largo Group, shares her wisdom on how and why business owners should utilize the power of data to grow their businesses.

 

 

Show Notes

[02:06] Anne’s Story – We start the conversation with a brief look at Anne’s career and what her firm, The Largo Group, offers to small businesses.

[06:00] Cashflow – Anne shares some strategies for small business owners to analyze the cash flow and review business transactions.

[09:56] Budgeting – Anne explains why it’s a good exercise for small business owners to create a budget and analyze their business expenses.

[15:19] Paying Yourself – Anne dives deep into how and when small business owners should pay themselves.

[21:06] Surviving the Pandemic – Anne explains how The Largo Group helped its clients survive through the pandemic.

[26:00] SBA Loans – Anne shares her thoughts on the SBA loan program with some pros and cons.

[33:33] Growth – Anne explains what small business owners should consider when planning for growth.

[36:06] Tax Strategies – Anne shares some tax strategies restaurants and other similar businesses can utilize to minimize their tax liabilities.

[43:47] Mindset – Why mindset is a key factor in the success of a business owner and some other business lessons from Anne’s career in professional golf.

 

Resources

GMB #137: All About I-Bonds, TIPS, and Bond Investing in Inflationary Times

As inflation continues to rise, many questions have come up regarding best practices for safeguarding investments. This week on Grow Money Business, Grant takes a deep dive into bond investing in an inflationary market, and answers some important questions about Treasury Inflation-Protected Securities (TIPS) and I-bonds. Throughout the episode, Grant shares his thoughts on when they may be a good fit for your portfolio, as well as some important considerations and strategic approaches to bond investing.

 

 

Show Notes

[04:07] Bond Investing – Grant explains the process of bond investing and the importance of allocating a portion of your portfolio to US government securities.

[08:44] Treasury Inflation-Protected Securities – Grant discusses the similarities and distinctions between ordinary US government securities and treasury inflation-protected securities.

[13:41] Interest Rate Risk – Grant explains why the value of TIPS are decreasing even though they are intended to protect investors against inflation.

[21:26] I Bonds – Grant describes the structure of I-Bonds, and shares his thoughts on who is best suited to invest in them.

[25:48] $10,000 Limitation – Grant shares a strategic approach on how to circumvent the $10,000 per year per person investment limit that the Treasury Direct website imposes.

[29:00] Emergency Fund Cash – Grant explains why he does not recommend investing emergency fund cash in I-bonds.

[32:50] Borrowings – Grant describes how rising inflation affects borrowing and how to benefit from borrowing in inflationary times.

 

Resources

GMB #136: Taming the Cost of College With Brad Baldridge

Properly planning for a college education has become one of the crucial decisions that could define the future of a young adult. This week on Grow Money Business, we’re joined by Brad Baldridge, a licensed financial planner, consultant for college funding, and main podcaster for the “Taming the High Cost of Education.” Brad assists families in preparing and saving for college by offering individualized planning services and insights on the most recent tax, cash flow, and academic strategies. Throughout the episode we discuss many important strategies for reducing the cost of college expenses.

 

 

Show Notes

[01:54] Background – Brad describes how he became interested in college planning and shares some thoughts on why it is so expensive.

[05:23] Sticker Price – Brad explains the evolution of sticker pricing and how it impacts college planning.

[21:24] Process –  Brad walks us through his advising process on how he helps individuals apply, enroll, and select the best school for them.

[27:16] Strategies for Business Owners –  Brad explains what company owners should know about planning and paying for their children’s college education.

[45:36] Common Mistakes – Brad outlines several common mistakes people make when planning for a future college education.

[50:22] Best Choice – Brad explains how to differentiate between applying to a college with a reputable financial aid office versus one that may not be as transparent.

[59:42] Taming the High Cost of College – Brad describes how his college funding company serves its clients.

 

Resources

GMB #133: Retirement Income Planning in 2022

Managing income after retirement is one of the most important things a retiree needs to plan to make the best of their savings, and with the rising interest rates and stock market volatility, there are many factors that need to be considered. This week on Grow Money Business, Grant dives into several key aspects of retirement income planning, including how to minimize tax impact, prioritizing different sources of income, planning for social security benefits, making strategic tax decisions, and more. 

 

 

Show Notes

[02:36] Recent Developments – Grant shares his thoughts on some of the recent changes in the economy and policies that affect the way people should approach retirement planning. 

[05:24] 401k Plans – How to maximize tax benefits while utilizing a 401k. 

[11:33] Expenses After Retirement – Grant explains how to best manage your after-retirement expenses 

[16:11] IRAs & Tax – Grant explains the tax differences between traditional and Roth IRAs and what retirees should keep in mind when taking money from these accounts. 

[21:00] Strategic Tax Decisions – Grant shares a strategic move that allows retirees to minimize the tax impact on their retirement accounts while taking advantage of the gap years between the age of 65 and 72. 

[29:17] Deferring Tax – How to decide whether it is beneficial to defer tax based on life expectancy 

[32:46] Medicare Premiums – How to plan for minimizing Medicare premiums after retirement. 

[39:06] Social Security – Grant shares his take on maximizing the social security benefits after retirement. 

 

Resources

GMB #132: From Tech Founder to Venture Capital & Real Estate Investor with Zain Jaffer

The world of real estate is full of opportunities for investors who strive to build wealth using innovative strategies. This week on Grow Money Business, we have a fascinating conversation with Zain Jaffer. Zain is a tech entrepreneur, a real estate investor, and the founder of Vungle, which was sold to Blackstone for $780 million in an all-cash transaction in 2019. Today, he invests in real estate and real estate technology businesses through both venture capital and private equity funds.

 

 

Show Notes

[02:15] Zain’s experience – Zain describes what he finds so appealing about real estate investing.

[09:58] Investment Opportunities – Zain shares what he looks for in new investment opportunities and how he assesses whether or not they are a suitable fit.

[16:54] Institutional Impacts on Real Estate – Zain and Grant discuss the argument that institutional interest in residential real estate is making it more challenging for individuals to purchase their own homes.

[22:15] PropTech Startups – Zain describes his future career goals and plans to continue investing in PropTech startups.

[26:33] More on Real Estate Investing – Zain shares some common themes he hears presented from startups seeking investments.

[34:09] Zain’s Journey – Zain outlines his professional journey, starting with the founding of Vungle, to his eventual $780 million exit.

[41:05] Cryptocurrency – Zain shares his thoughts on cryptocurrency.

 

Resources