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Financially Simple Bizcast


The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, CFP® (Certified Financial Planning professional), CEPA (Certified Exit Planning Advisor), and CVGA (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Sep 18, 2023

The idea of a flat organizational structure has gained steam in recent years. On its surface, it may seem like a good idea. However, without a clear leader, people often become confused about which direction to follow.

In this episode, I take a close look at some of the most common types of organizational structures. Join me as I explain why the flat org chart might prevent you from achieving the eight-figure exit you desire!
 
This week on The Financially Simple Podcast: 

 

  • (0:40) My soapbox

  • (1:40) Why organizational charts matter

  • (3:48) Different types of organizational structures

  • (14:00) The reason we're here

  • (15:00) What got us here won't get us where we want to go

  • (16:14) The lack of a clear leader can be confusing

  • (19:10) Why you can't have a flat org chart in your RIA

  • (25:46) Embrace hierarchy

  • (26:27) How does an organization that truly conquers things structure its org chart?

 

Our Favorite Quotes: 


"Having a powerful and scalable organizational structure is one of the most important ways that you can help solidify the team, solidify the company, and prepare them for exit." - Justin Goodbread

 

"It is impossible to find groups or organizations where all members have roughly equal status and power. Whether researchers study people, dogs, or baboons, hierarchies are evident after just minutes of observation." - Robert Sutton, Professor of Management Science, Stanford University

 
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.