On this episode of The Small Business Radio Show…
SEGMENT 1 with Anne Lester, starting at 0:00: Many small business owners don’t think about retirement. There are two reasons for this. First, many think they will never retire because they wouldn’t know what to do if they weren’t working. Secondly, if they do retire, they think they’ll have a boatload of money from selling their company. But statistics show that only about 30% of all small businesses that are put up for sale actually sell. Retirement expert Anne Lester is here to share how small business owners can become financially ready to retire, whether they’re ready to retire or not.
SEGMENT 2 with Zach Smith, starting at 18:45: Small business owners often turn to crowdfunding to raise money, but like everything else, it takes a certain set of skills to be successful and just because you build a campaign, it doesn’t mean people will come to participate. Crowdfunding expert Zach Smith is here to share his rapid-fire tips for success with crowdfunding campaigns based on his decade-long experience helping entrepreneurs raise capital on crowdfunding platforms.
SEGMENT 3 with David Axler, starting at 37:15: You keep receipts in a drawer or old shoebox. You mix your personal and business banking. You put off taxes until the last minute. Do any of these sound familiar? Small business owners have a lot of bad financial habits, and David Axler is here to finally help us nix them.
Sponsored by NiceJob.
More on each segment below.
Segment 1: Anne Lester is a retirement expert, highly sought-after speaker, and media commentator with over two decades of experience in all aspects of retirement. She spent 29 years as a portfolio manager and Head of Retirement Solutions for JPMorgan Asset Management’s Solutions group, holding patents for her progressive design to simplify and automate the retirement planning process. She is now on a mission to help Americans—particularly those in their 20s and 30s—understand that it is possible to achieve a happy retirement, on their time and target.
1:45 – Are Americans worse at saving for retirement compared to other countries?
4:30 – What’s the best way for small business owners to save for retirement?
6:15 – How to make savings a priority.
8:00 – How can you balance having fun now versus saving for retirement?
10:00 – The 3-step framework to help you save smart.
12:30 – What is a Target-Date Fund?
14:00 – How do you know when the right time is to retire?
Segment 2: Zach Smith is a serial entrepreneur who has never had a “real” job his entire life. He’s always starting, selling, running, and managing businesses. This passion led to his creation of Funded Today, LLC, the world’s most successful crowdfunding firm. Funded Today has now cumulatively raised over $426 million and counting for 4,000+ crowdfunding campaigns across the world and in 2018 was the 27th fastest-growing-privately held company in the United States on the prestigious Inc. 5000 list, and #2 in Utah.
18:45 – Zach’s experience as a lifelong entrepreneur who has never had a “real” job.
22:15 – What are the characteristics of a successful crowdfunding campaign?
24:30 – What type of product is most successful with crowdfunding?
26:45 – What are the best rewards packages for crowdfunding campaigns?
27:30 – How do you choose your platform (Kickstarter or Indiegogo) and how do you draw crowds to your crowdfunding campaign?
32:30 – Zach’s favorite crowdfunding campaigns.
Segment 3: David Axler is the VP/GM of Banking & Books at Wave where he leads the business unit of Wave’s core offering of banking solutions and develops the system of record for small business owners.
37:15 – Where should small business owners start in getting their finances organized?
40:00 – Stop mixing personal and business banking.
42:15 – How business owners can implement simple, smart money management solutions.
44:00 – How is Wave different from Quickbooks?
45:15 – How small business owners can finally stop putting off taxes until the last minute.
48:00 – An easy way to make accounting reconciliation easier.
