Business Owners

Episode 391: Bank On Yourself® In Action: Real Life Business Case Studies

February 28, 2025 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to listen to Episode 388?
What are the challenges faced by most entrepreneurs?
How is this playing itself out in the real world?
How about guarantees?
How about liquidity?
How about more success?
What challenges would this solve?
How can business owners level up their cash flow?
What do Bank on Yourself® type whole life insurance policy offer business owners?
What about lines of credit?
Are the banker’s trophy catch?
What about paying the interest?
What about times of business downturns?
What are the limits of lines of credit?
What about collateralization?
What about interest rates?
What about compliance?
How about a case study?
Is it worth the risk?
What is the insurance company contractually obligated to do?
What is the top ten list?
How about a guaranteed interest rate?
What about credit checks?
What about your credit score?
What about repayment terms?
What about loans being called?
What about tax-free access to funds?
What about the dual benefit of insurance and savings?
What about protection against market volatility?
What about compounding interest working in your favor (not the bank’s)?
What about estate preservation?
How might having a guaranteed line of credit help you and your business?
How about another case study?
What about inventory financing?
What about the fourth quarter and the Q4 rush?
What about another business case study?
What’s the catch?
What are the considerations?
What about paying off the loan?
What other major expenses are in your business?
How about this case study?
What about paying the tax payment from a policy loan?
What about paying off policy loans with windfalls?
What is thrilling?
How much?!
What are the takeaways?
Would you like to meet with Mark or one of Mark’s associates?

Episode 390: [Client Spotlight] From Island Paradise to Master of Banking with Harry Looknanan Jr.

February 21, 2025 by Not Your Average Financial Podcast

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In this episode, we ask:

What would life be like when you’ve reached financial freedom?
Who is Harry Looknanan Jr.?
Who knows how to manage in crisis?
What happened in 2007?
How did Harry meet Mark?
What about peace of mind?
What has Harry been able to do since having a Bank on Yourself® financial strategy?
What about the contingency fund?
What about penalties and tax on rolling out of a qualified plan before age 59 1/2?
Who loses money when the market drops?
What happens to compounding in that case?
What’s important to you?
What components did Harry know he needed in his financial strategy?
What’s the beautiful thing?
How about increasing the yield without taking unnecessary market risk?
What do I need to do differently?
What 5 simple things do you want to accomplish in your financial life?
What is there to lose?
What is there to gain?
Are you a business owner? Would you like to reach out to Harry on LinkedIn?
What are the takeaways?
What are the contingency plans?
What do you achieve?
What do you focus on?
Who do you inspire?

Harry Looknanan Jr. works in commercial banking at the country’s largest financial institutions. He enjoys the conversations with the owners of companies, listening to their story of starting in the garage and helping them solve their biggest problems. When he’s not banking, he enjoys spending time with my wife and Bentley (Dodson-Australian Shepard) indoors in the summer, and outdoors in the winter. He also scuba dives and binge-watches Sci-Fi movies in his free time.

Episode 388: Bank on Yourself® for Business Owners, An Introduction

February 7, 2025 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to learn more about capital for running a business?
How does the Bank on Yourself® concept advantage business owners?
What happens when entrepreneurs blow through their savings and money?
What’s the funny thing about other people’s money?
How many businesses have borrowed?
How much debt do businesses hold?
Why do most businesses fail?
Why are banks hitting record profit?
What is the takeaway message here?
What if you could take on the function of banking without taking on all of these hurdles?
What is the biggest lever you could pull?
What do many business owners need in today’s climate?
What about term insurance?
What about dividend paying whole life insurance?
What can be seen as a business asset on your balance sheet?
What would you do if you had access to $500,000, liquid?
What are you solving for?
What about the exit plan?
What about the loan feature?
What will continue to earn compound growth?
What could this do for you in your business?
Who sets the terms on the loan?
What about the tax advantages?
Who taught you to believe that?
What’s the biggest catch?
What are the problems?
Why is it crucial to work with a Bank on Yourself® professional?
What are the questions to pursue?
What would be your first steps?
Would you like to meet with Mark or one of Mark’s associates?

Episode 380:[Client Spotlight] Mastering Real Estate and Bank On Yourself® with Brian Claus

December 13, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

How about balancing family life, ministry and real estate?
Who is Brian Claus?
Have you heard about UnBound Now?
What’s Brian’s earliest memory with money?
What did Brian’s Dad do to incentivize saving?
What’s Brian’s story?
What happened in 2018?
What are the benefits of running real estate through policies instead of banks?
What about Dave Ramsey’s thinking?
What about due diligence?
What about selling the house?
What was the benefit of putting the proceeds into a policy?
What about the down payment for the new house?
What about the pool?
What happened with the land deal?
What about the other deals?
How did Brian access the money?
Would you like to view Brian’s financial map?
How else does Brian use these policies?
What about paying taxes?
What about the ministry through Brian’s church?
Would you like to visit UnBound Now?
Would you like to email or message Brian on the FREE Not Your Average Financial Community?
What are the takeaways?

Brian Claus balances family life with a career in diverse real estate ventures, from long-term rentals to Airbnbs and land sales. For over a decade, he’s worked with Unbound Now, a dedicated anti-human trafficking organization, where he’s made a meaningful impact.

Episode 377: Real World Tips for Selling Your Business with David C. Barnett

November 22, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

What percentage of businesses successfully sell at all?
Who is David C. Barnett?
Would you like to hear David on Episode 154?
How about a story?
What are some of the hazards that new business owners run into all of the time?
How did David get started?
What did David learn as a business broker?
What does David do now?
What needs to happen for a fair deal to occur?
What are the reasons people need to sell businesses?
What do most sellers fail to realize?
What is aspirational pricing?
How has the internet changed the way buyers conduct research and due diligence?
What happens when you are excited and energetic about your business?
What happens when you start to feel fed up, have pressures or health issues?
What creates a whole series of red flags for buyers?
What mindsets, skillsets or strategies can one employ to prepare to sell the business?
How can you increase your earnings or reduce your own capital tied up in the business?
How is real estate different from an operating business?
How is a business actually a system?
Would you like to read David C. Barnett’s new book, Buying vs. Starting a Small Business: A Guide to Keep You From Going Broke?
Who would benefit from this book?
How does one empathize with the potential buyer?
What is the give and take required in this relationship?
What about seller financing?
What about the need for the buyer to be successful?
What’s it like to work with David?
What are the action items?
Would you like a business valuation? Book a Meeting

David C. Barnett has been working with small businesses for over 20 years. He’s helped them grow, he’s helped entrepreneurs buy and sell them, he’s helped people finance them. David is the author of 8 books about small business transactions and local investing. He’s the host of a YouTube channel with hundreds of videos about buying, selling, financing and managing SMEs and can be found anytime at his blog site www.DavidCBarnett.com

Episode 369: Money, Emotional Intelligence and Mr. Rogers with CFO David Richter

September 27, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Do you remember Mr. Roger’s lessons?
How might the Profit First system work with real estate investing?
Who is David Richter?
What about great role models?
What about emotional intelligence?
What is key for business owners?
When did David’s first deal happen?
What happened to that company?
What happened when David moved across the country?
What about make, spend and keep?
What is a fractional CFO company?
Would you like to hear Amanda Neely on Episode 165?
Have you played the cash flow game?
Who is living deal-to-deal?
What about paying yourself first?
What is Profit First in a real estate investing context?
What is the biggest challenge for real estate investors when it comes to making a profit?
What about the culture’s drive for more, more, more?
What about making money and keeping it?
What game are you playing?
How do Bank on Yourself® type whole life insurance policies take it a step deeper?
What are some examples of quarterly and annual accounts?
What fits right in?
What turbo-charges Profit First?
What about the legacy play?
What about saving?
What can business owners do to start?
Do you have a handle on your cash?
What about the Profit First cheat sheet?
Can you learn to keep it?
How does following simple systems change everything?
Would you like to visit simplecfo.com/gift ?
What are the takeaways?

David Richter is an active real estate investor who has been essential in closing over 850 deals over the last 10 years. He has experience with wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and other exit strategies.

David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system. He has been featured on Biggerpockets, Real Estate Disruptors with Steve Trang, and many other podcasts, shows, and stages.

David authored Profit First for Real Estate Investing – a derivative of the original Profit First by Mike Michalowicz, tailored specifically to Real Estate Investors. His goal is to completely transform the Real Estate Investing industry by helping real estate investors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal.

Episode 368: A Better Way to Profit First with Mike Michalowicz

September 20, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Have you ever wished you were just average?
Are you a business owner?
Why do some business owners thrive and others merely survive?
What if it were easy to become profitable?
Who is Mike Michalowicz?
What is the commercial that changed Mike’s life direction?
What happened when Mike was in overwhelming debt?
What is Parkinson’s law?
What about doing fewer things, better and faster than ever?
What about making the (scary) choice to take profit first?
What did Mike realize?
What about cost cutting?
What about growth?
How did Mike flip the (Sales-Expenses=Profits) formula to (Sales-Profit=Expenses)?
Would you like to hear Episode 165?
How might one implement Profit First?
What is a behavioral intercept?
How might we set up a system to drive the results we want?
What are the core elements?
What is the vault?
What about blending the Bank on Yourself® strategy and Profit First?
What are the pitfalls?
What about Occam’s razor?
What about leveraging your natural tendencies?
What are Mike’s four healthy habits?
Did you know that Brandon Neely and Amanda Neely are Certified Profit First Professionals?
What is a Certified Profit First Professional? Would you like to visit profitfirstprofessionals.com?
What about Mike’s latest book, All In?
What do your clients want more than anything else?
What are the takeaways?
Which one of these actions will you take this week?

Mike Michalowicz is an investor, active partner in multiple companies and a prolific author. His bestselling book, Profit First, has sold more than one million copies.

Mike is a former small business columnist for The Wall Street Journal, and he launched three multi-million dollar companies before his 35th birthday.

If you enjoyed reading Profit First, you may also enjoy his other books, including All In, The Pumpkin Plan, Clockwork, Fix This Next, Get Different, My Money Bunnies, Surge and The Toilet Paper Entrepreneur.

Episode 367: A Bank on Yourself® Manifesto with Dave Bonnemort

September 13, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Would you like to hear Part 1 with Dave Bonnemort?
What about mindset?
What about cash value life insurance?
What is the point of all of this?
What about building capital?
Can you do hard things?
What’s Dave’s experience with his policies?
What about thinking long range?
Do you want a million dollars today or a penny that doubles every day?
What about dividends?
What was Nelson Nash pounding the drum about?
When do you want your money to be most efficient?
How does the Bank on Yourself® or Infinite Banking strategy fit into the E.S.I. framework we talked about last week?
What about warehousing your wealth?
What about emergency funds?
What about starting a business and access to opportunity funds?
What about looking at the flow of money?
What about the Profit First book?
How does Dave pay his taxes?
How does Dave protect the family and the business?
What is the Augusta rule?
What about paying for college and beyond?
What about saving to drive the efficiency of the dollars?
What about real estate, crypto or starting a business?
Does the choice have to be either/or?
How is life insurance an “and asset”?
How do the tax dollars pay for the life insurance premium?
What did Dave learn from Nelson Nash?
What about insurance as an asset class?
How did Dave choose to work with Mark?
Do you build capital in an investment?
Who gets burned?
What about ruminating over all of the information, to really absorb and learn it?
What about being more strategic?
What about paying a simple interest rate back to the insurance company?
What about having capital for opportunities?
What about getting better terms for cash (vs. financing)?
What about the example of the two sisters: the life insurance sister vs. the C.D. sister?
Why are books so important and so much better than social media?
What will take time?
What is a 30 year journey and process?
Who understands how to handle lump sums?
Who is willing to hustle and grind?
What are the strategies you can employ when you can’t pay a premium?
What about thinking long term?
Would you like to hear Episode 95 and Episode 96?
How might life insurance figure into your overall situation?
How might it be a safety net as well as accessible capital?
How might patience lead to exponential growth over time?
What about talking with your family to teach financial concepts in a practical way?
Would you like to meet with Mark?

Dave Bonnemort is a current client and active practitioner of the Becoming Your Own Banker concept, as well as a husband to an amazing wife and father to three incredible kids.

He makes his living as a small business owner, is a student of Austrian economics, and a personal finance junkie.

Episode 366: From Mowing Lawns to Mastering Money with Dave Bonnemort

September 6, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Does X mark the spot?
Who is Dave Bonnemort?
How did Dave get his start?
How many policies does Dave and his family own?
What is the E.S.I. framework?
What about earning?
What about saving?
What about interest?
What about banking?
Who is good at at least two of the three?
What about investing in yourself and your health?
What about education?
How might we bring value to others?
What have you done to help keep up with inflation?
What is the difference between saving and investing?
Is a 401(k) saving or investing?
What about the book Becoming Your Own Banker by Nelson Nash?
What about keeping your debts low?
What did Charlie Munger say?
What about Willie Sutton’s law?
What about the changing rules?
Have you looked at the history of taxes?
Where are the big payouts?
What about risk?
What about the likelihood of loss vs. the likelihood of winning?
What about volatility?
What about saving and building capital?
What about being broke as a joke?
How did Dave 10x some of his money?
Who knows better (what to do with your money)?
What about banking, rate and volume?
What are the two businesses?
How about patience and hard work?
What about the mindset?
What are the ugly, painful, grinding years?
What about the capitalization phase?
How is this like starting a tree farm?
What about the loan phase?
How much money do you bring in every month?
What dollar amount do you bring in as loans?
What if you were paying yourself back (for loans) and recapturing that interest instead?
Would you like to hear Part 2 with Dave next week?
What are the takeaways?
What about the need to have accessible, liquid capital?

Dave Bonnemort is a current client and active practitioner of the Becoming Your Own Banker concept, as well as a husband to an amazing wife and father to three incredible kids.

He makes his living as a small business owner, is a student of Austrian economics, and a personal finance junkie.

Episode 359: Your Best Employee is an Insurance Contract with Doug Peacock

July 19, 2024 by Not Your Average Financial Podcast

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In this episode, we ask:

Are you a business owner?
Are you having difficulty hiring?
What did a recent Gallup poll say?
Who is Doug Peacock?
Would you like to hear Episode 262?
What are the seven ideas of “put me (life insurance) on your payroll”?
Would you pay me like your lowest paid employee?
Are you speaking about hiring an employee?
As a thought exercise, could a whole life insurance policy be viewed as an employee?
Is every employee an asset?
Is every life insurance policy an asset?
Do you like me?
Would you fire me in 10 years?
What about other major business expenses?
What happens if you get sick?
If you get sick, would you pay yourself?
Would you like to hear Episode 256?
What is waiver of premium?
Do you need a loan?
What about saving money?
Is the money liquid?
How does one use a policy as collateral?
What about HELOCs and car loans?
What about the rate?
What about the volume?
Who controls that process?
Is smart to collateralize?
How many options do you have?
What about supplementing retirement income?
What about the efficiency of policies?
What about conventional advice?
What do CPAs do well?
What do CPAs tend to do poorly?
What about tax advantages?
Are death benefits tax-free?
What can your money do for you?
Would you like schedule with Doug at peacockwealthgroup.com?
How powerful is whole life insurance helpful for your business?
What are the benefits?
Is it time to re-evaluate where you place your savings?
Who do you need to work with to get everything in order?

Doug Peacock spent 38 years as a high school teacher and football coach. He tried to retire the traditional/conventional path, and things didn’t work out like he was led to believe. He learned that other teachers and coaches were having the same conversation. Doug literally watched his 403(b) become a 203(b) twice in the last decade of his teaching career. He knew there had to be a better way, so he started learning how wealth really works.

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