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DecaMillionaire Decoded

No fluff. No theory. Just real conversations with real business owners doing real numbers. Hosted by entrepreneur and exit strategist Justin Goodbread, DecaMillionaire Decoded helps service-based business owners scale past $10 million in enterprise value. Each episode delivers hard-earned strategies, honest insights, and tactical advice from those who have built, scaled, and exited companies at a high level — and from experts who coach them.  Through direct interviews and expert breakdowns, Justin walks listeners through the Relentless Framework: Foundation, Examination, Execution, Exit, and Freedom.  Whether you're already generating 6- to 7-figures or building toward your own 8-figure breakthrough, DecaMillionaire Decoded will help you turn chaos into clarity—and frustration into freedom.  The DecaMillionaire Decoded podcast is a Financially Simple production.
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7 Reasons Your “Ideal” Client will prevent your 8 Figure exit

Jun 19, 2023

Defining the ideal client for your RIA is an important step toward the growth you desire. But what if the ideal client you've identified turns out to be more of a hindrance to your success? In this episode, I discuss seven reasons your perfect client persona may be holding you back. I'll also take a look at some of the ways you can refine your client persona to better fit the direction you want to go.
 
This week on The Financially Simple Podcast: 

 

  • (1:18) What Is the Ideal Client?

  • (2:48) How Do We Define Our Ideal Client?

  • (3:46) Defining Your Target Market

  • (4:20) You Haven't Defined Your Ideal Client Well Enough

  • (7:33) Geographical Distance Could be Problematic

  • (10:19) You're Targeting A Shrinking Market

  • (11:56) Cultural Misalignment

  • (13:46) You're Not Reaching Them Soon Enough

  • (15:50) You Have No Common Ground

  • (17:37) You Don't Have an Ideal Client

  • (18:12) How to Address the Problem

 

Our Favorite Quotes: 

"You've got to have a common ground with your ideal client. If you don't, you could end up with atrophy within your client base after the sale." — Justin Goodbread

 

"If your content marketing is for everybody, it's for nobody." — Joe Pulizzi
 
About The Financially Simple Podcast 
 
If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.  

 
If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ 
 
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”). 

 

This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.