entrepreneuraligned

Seeing business exits fail is one of the reasons we created Entrepreneur Aligned. One of the areas where we have seen failure points is when there are multiple owners of a business and their needs from that business are not in sync. At Entrepreneur Aligned, we have a process to uncover needs, get clear individually, and create a strategy that works for each partner. We call this our Partner Aligned process. In this episode of the Entrepreneur Aligned Podcast, I will walk you through each of the key phases and tasks of this process, starting with the first three and concluding with the fourth phase next week!

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy. Advisory services provided by Destiny Capital Corporation, a Registered Investment Adviser.

We often get asked what the difference is between retirement planning and business owner planning when it comes to personal finance. The answer is focus. For most non-business owners the focus of financial planning is retiring successfully while hitting the major financial milestones of life between today and the day you retire. For business owners, the focus is on meeting all the needs, wants, and goals of the family while also nurturing and growing the business. In today's episode of the Entrepreneur Aligned Podcast, I dive into some of the key differences in personal planning based on where the focus is.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy. Advisory services provided by Destiny Capital Corporation, a Registered Investment Adviser.

How do you know when you need to make a change with your CPA? If you are seeing any of these four signs, it may be time to start seeking out a new team:

 

1) You have asked for tax projections but don’t get them.

2) You have asked for guidance around the timing of a use of capital but your CPA doesn’t want to offer a recommendation.

3) You feel like your CPA knows less about taxes for your business than you do.

4) You have found errors with prior year business returns prepared by your CPA.

 

In today's episode of the Entrepreneur Aligned Podcast, we'll dive into each of these warning signs and discuss why they are important to pay attention to.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy. Advisory services provided by Destiny Capital Corporation, a Registered Investment Adviser.

We get this question often: “How is business owner financial planning different than regular financial planning?”

 

Financial planning is the process of creating a comprehensive plan to fund your current and future needs. Financial Planning for business owners is the process of including your business planning in your personal financial planning strategy.

 

In today's episode of the Entrepreneur Aligned Podcast, Jarrod breaks down the high level strategy behind it all.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

When you are in a tight spot with liquidity, where do you go to source the cash? In today's episode of the Entrepreneur Aligned Podcast, Jarrod focuses on things you can implement relatively quickly, most within a few weeks or even a few days.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

Growing your business through acquisition requires financing. In today's episode the Entrepreneur Aligned Podcast, Jarrod provides an overview of SBA 7(a) loans and how you can use them along with seller-carried financing to acquire and grow your business.

 

For a deeper dive into this week's topic, check out our long-form blog post on this very topic: https://entrepreneuraligned.com/insights/small-business-acquisition-sba-loans

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

Increasing the equity value of your business can be done in many ways. What are the fastest ways to start increasing value right now? In this episode of the Entrepreneur Aligned Podcast, Jarrod breaks down the three ways to increase your business equity value fast.

 

Fast doesn’t mean the most powerful tools you have available. Those are usually increasing revenue, profitability, and growth rate. However, those often take longer to create and if you want to start moving the needle right now we need to look in other areas while you continue growing the business. The three fastest ways to increase your business valuation are:

 

1)    Remove yourself from roles in the business

2)    Ensure your financials are clean and easy to review

3)    Secure your intellectual property

 

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

There are lots of ways to lose money with investing, but perhaps the most frequent is selling assets when you don’t want to. Sometimes this is driven by fear, when economic conditions worsen or the market turns against us we naturally want safety. Sometimes we see a better opportunity or think we do, and want to make a change to take advantage of it even if the assets we own are down in value. Most often, we see this happen when there is a need for capital that we didn’t properly plan for and we need cash even if we are selling at a loss to get it.

 

So how do you set yourself up for success so that you aren’t selling assets when you don’t want to? You have to design your account structure and strategy to match your dollars to when you will need them. In this episode of the Entrepreneur Aligned Podcast, we will cover an example of our baseline design which involves splitting personal liquid assets into three buckets:

 

1)    Short-term needs and reserves: spending in the next 1 year

2)    Mid-term needs and reserves: spending in the next 2-3 years

3)    Long-term needs: spending more than 3 years in the future

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

How is wealth management different for business owners?

 

The more accurate question might be, how isn’t it different? Business owners control their time and capital to a greater degree than the 91% of non-entrepreneurs in the US. Most of the research and writing on personal finance is targeted toward those 91% who work for someone else and operate in a very traditional work environment. They generally collect wages and benefits and have fairly predictable income. Entrepreneurs only make money when their business does and those numbers change drastically over time.

 

So how should entrepreneurs manage their wealth differently? We lean on our 4 Pillars of Entrepreneur Wealth Management:

 

1)    Get Clear

2)    Grow Wealth

3)    Manage Risk

4)    Entrepreneur Equity Planning

 

Read the deep dive blog on this topic here: https://entrepreneuraligned.com/insights/four-pillars-entrepreneur-wealth

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

How do you know if you are financially free or how much more you need? I wrote about this in my book The Abundant Entrepreneur and call it the Enough Number. Meaning, how much do you need in lump sum wealth and recurring passive cash flow to meet all the personal goals you and your family have for the rest of your life? You can download a simple version of that calculator here.

 

Grab a copy of my book The Abundant Entrepreneur from Amazon here: https://www.amazon.com/Abundant-Entrepreneur-Lasting-Personal-Wealth/dp/B09CRXV2SH

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

Quarterly estimated tax payments are one of the least enjoyable parts of entrepreneurship. Making sure that they don’t cause a cash crunch is one of the keys to reducing the pain they cause. In today's episode of the Entrepreneur Aligned Podcast, Jarrod outlines how you can properly forecast and reserve for them.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

As many startups embark on their entrepreneurial journey, one critical decision involves choosing the business structure that best fits their unique needs. Two popular choices are the Limited Liability Company (LLC) and S Corporation (S Corp), each having its own nuances and specific governance structures.

 

Both S Corporations and LLCs offer "pass-through" taxation, where profits are taxed at the owner level, not at the business level. However, S Corporations' shareholders can potentially avoid self-employment taxes on a portion of the company's profits, a benefit typically not available to LLC members. S Corporations are required to adhere to stricter corporate formalities, such as maintaining minutes of board and shareholder meetings, issuing stock, and having a board of directors. Conversely, LLCs offer more flexibility in management structure and fewer ongoing formalities.

 

In today's episode of the Entrepreneur Aligned Podcast, Jarrod delves into the tradeoffs between LLCs and S-Corps.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

A question we are frequently asked is, “When will the next recession be?” We all know that the business cycle is real and that the next recession will eventually be here. However, we have no idea when it will occur and with what severity. We don’t know because the global financial system is incredibly complex and difficult to predict. This doesn’t mean that we don’t go through mountains of financial data (we do), and try to get some leading indicators to help us better understand what is likely to happen. Even so, we never know for sure. So if this group of highly educated financial professionals who have made an entire career out of doing this work at a high level doesn’t know for sure, it means that nobody else really does either.

 

So what should our response to the unknown be as entrepreneurs? In today's episode of the Entrepreneur Aligned Podcast, I'll go over a simple framework you can use to examine your own unique scenarios. These scenarios will focus on liquidity and how you can manage the risks of the environment turning against you.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

Often entrepreneurs neglect their physical health. Our businesses and families require so much from us to succeed and be the entrepreneurs, fathers, and mothers we aspire to be. Time always feels short and the same drive that makes us successful can also leave little time to focus on our physical health. I make the argument that if there are three legs on the stool of the entrepreneurial life, one of them must be physical health with the other two being entrepreneurship and close connection with the people you love. Without our physical health we end up being less able to succeed as the leaders, spouses, and parents we seek to be.

 

When time and energy are limited, how do we develop a plan for our physical health as an entrepreneur? In today's episode of the Entrepreneur Aligned Podcast, I'll go over the three keys in developing your own personal fitness plan...

 

1. Develop goals that motivate you

2. Create a physical fitness strategy that suits your individual needs

3. Build a nutrition strategy that works for you

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

For many business owners, the process of getting a business valuation feels like a black box. You give your valuation expert your financials and out pops a number, right? How do you know what goes into that number and whether it is accurate?

 

This week's episode the Entrepreneur Aligned Podcast is intended to shed light on that black box so that you can understand the key value drivers for your valuation. When we work with our clients, the focus is not only on the valuation number or, better yet, anticipated valuation range. We focus on what is driving that value and how can the owner improve their value. There are three key areas of business value that we typically highlight for our entrepreneurs: transition risk, demand index and quality of financials.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

What happens when your business is not performing financially as well as you thought it would? What happens when that underperformance means that some of your family priorities are not met? When these things happen, you can either increase the amount of owner benefit being withdrawn, take on debt or sell some or all of the equity in the business. In this week's episode of the Entrepreneur Aligned Podcast, Jarrod dives into each path.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

What do we mean when we talk about risk management? As entrepreneurs, our job is to make sure that our businesses and personal lives have no singular failure points. Some of the biggest risks we face are around the two broad terms of “business continuity” and “liability risk”.

 

In this week's episode of the Entrepreneur Aligned Podcast, Jarrod discusses these two types of risk, the impact they can have on your personal planning, and how to protect yourself and your family in the years ahead.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

One of the frequent questions asked by our entrepreneur families is, “What are the best trips that other clients are taking?” Because we get to hear about some truly amazing adventures from our clients, we here at Entrepreneur Aligned are effectively trip advisors as well as financial advisors.

 

The entrepreneur families we know are always looking for ways to maximize the time they spend away from their businesses and want to make the most of family travel time. Over the past few years, we have heard most of our clients talk about these four primary travel tools: self-booking or using a travel agent, Airbnb, Inspirato, and Wander. In this week's episode, Jarrod reviews these travel tools and discusses their major differences.

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

This week, I want to respond to a question we often receive from entrepreneurs who are meeting us for the first time. Many times, they ask us, “How should I evaluate whether working with you is worth what I pay for your services?”

 

Great news! We have an easy way to calculate our value based on three quantifiable areas, each of which is based on increased merit when compared to you doing things yourself:

 

* How much time do we save our clients, and what is their hourly rate for their business?

* How much more do investors working with an advisor receive in investment returns than those doing it themselves?

* How much value does tax planning add?

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.

The things we regret are those that are left untried. How often have you thought about that business that is just screaming to be built? How often have you written it off because you just do not have the time for it? In this week's episode of the Entrepreneur Aligned Podcast, Jarrod goes over these four key elements for running multiple businesses successfully:

 

#1 - You need operational leverage in your primary business before allocating time to another one.

 

#2 - You need to clarify how you will get from the startup phase to your operational leverage in the second business.

 

#3 - What does your financing structure look like for the second business and what is the risk profile for the businesses, in combination?

 

#4 - Who can you learn from to shorten your learning curve in the second business?

 

-----

 

ABOUT JARROD

 

Jarrod was born into financial planning and solving financial problems. With his financial advisor father Steve telling stories about finance around the dinner table from an early age, the idea that everyone has a different financial situation was always there. After an early professional career spent in nonprofit and government, Jarrod came back to his roots helping people plan and invest in 2011. Since then, he has worked with individual clients, led internal teams and ultimately became partner and the CEO of Destiny Capital in 2017. With a passion for helping entrepreneurs change the world, Jarrod ultimately oversaw the creation of Entrepreneur Aligned in 2020. With both Destiny Capital and Entrepreneur Aligned, Jarrod leads teams that help people live lives of abundance where money is simply a tool to let everyone be a positive force for the world around them. When he isn’t working with the talented teams for EA and DC you can find him chasing his twins, wily trout or a podium spot at an OCR race.

 

WANT TO LEARN MORE?

 

Subscribe to our Entrepreneur Aligned Podcast for new episodes posted every week OR click below to check out more new content from Entrepreneur Aligned.

 

Wealth Digest - weekly articles delivered to your inbox!

Subscribe to our YouTube channel

Connect on LinkedIn

Follow on Twitter

Follow on Instagram

Check out our Linktree

 

REACH OUT TO US!

 

If you have a question or simply want to talk through your financial planning, we are here to help.

 

SEND US A MESSAGE or call 720-715-7570

 

DISCLOSURE: Jarrod Musick is an officer of Destiny Capital and Entrepreneur Aligned, a DBA of Destiny Capital. All opinions expressed by Jarrod are solely his own opinions and do not reflect the opinion of Destiny Capital or Entrepreneur Aligned. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. We recommend consulting with your wealth advisor, CPA/tax advisor and/or attorney, as applicable to your situation, prior to implementing a new investment strategy.