00:08:50 – The value of asking help from someone outside of your business

00:13:33 – What business owners are doing well with their overall wealth strategy

00:18:46 – Re-investing into your business VS investing outside of your business

00:22:48 – How much income is considered “enough” when it comes to wealth-building?

00:27:25 – Thank you

Q: What are the key indicators that you’re looking for when you go in, in terms of trying to help a business?

• In general terms, I look at the financial indicators such as liquidity and profitability.
• Taking the pandemic into account, I will also look at what was the turnover pre-COVID? What is it now?
• I will also try and gauge the non-financial indicators, which are more important than the financial indicators.
• I’ll look at how the business entrepreneurs how faring and if their mind is strong.
• Speak to some of their staff – see how they’re thinking, how many are left etc. 
• A business entity can thrive with the right mindset, with the right input and with the right professional skills around them.

Q: What non-financial indicators are you specifically looking for and where are the opportunities to shift on the mindset level?

• When the cash flow is tight, and insecurity comes to the fore, many people lose hope while in fact, there may be hope.
• They just need to follow the right recipe and use the right ingredients. 
• That’s where someone comes in and asks the hard questions to add value. 
• That’s also where non-financial skills come in – show entrepreneurs who are struggling that there is a way out. 
• Once that message gets across, it’s very rewarding. 

Q: What do you see businesses doing well in terms of their overall holistic wealth creation strategy versus those who aren’t?

• It goes way beyond financially doing well. 
• There’s no one size fits all – dependent on who is driving that company and who they surround themselves with in terms of the skills they require
• They financially are doing well but when you ask non-financial questions, such as “show me your processes” or “how do you get your leads” you learn that the general business owner isn’t actually thinking about these questions. 
• So the inefficiencies start wearing away at the core of the business.
• There are all these unseen non-financial factors that aren’t addressed and that’s where I come in to question anything worth questioning to add value and get better results.

Q: What are you witnessing with those entrepreneurs that do nothing other than building their retained earnings versus those that develop income streams outside their business?

• Seen both types of entrepreneurs – they are both smart.
• But, my personal view is that the better strategy is the entrepreneurs who engage the right people around them and don’t put all their eggs in one basket.
• They use one platform to invest in other platforms. 

Q: What words best describe why financial freedom matters to you?

• If you aren’t financially independent, you are psychologically worse off.
• But what is enough?
• It’s not all about money. 
• Health and family are more important.