Wealth Well Done
You’ve heard the narrative that the super wealthy don’t pay taxes and the rich keep getting richer. Unless your net worth has reached family office status, you likely don’t have access to understand how they do it. In this weekly podcast designed for affluent stewards, we will go deep into the financial planning tactics of the high net worth community. You will learn how “the rich” pay so little in taxes, and how that can apply to you. You will learn how the wealthy invest differently than the standard investor. You will learn how the biggest philanthropists in the world maximize the assets they give. All of this will be shared through a lens of understanding the responsibility associated with wealth and its impact on you, your family, and the world around you. In one facet, Eric, in cooperation with his expert guests, will demystify the _complexities and share some of the best strategies in the categories below to help you make informed decisions and grow your wealth. Getting healthy with money Investment portfolio design Real estate investing Alternative assets Tax planning Stewardship Philanthropy Risk assessment Estate planning Insurance Marital finance Succession planning Training the next generation Cash flow To accompany these wealth-enhancing strategies, we will also expose the significant, yet often overlooked, burden that comes with wealth. The increase in depression, suicide, and addiction amongst trust fund beneficiaries has been well documented. The changes people often undergo and the reduction in peace they have as their net worth increases points us to the conclusion that more money is not the answer. If the effects of an increase in finances haven’t been properly planned for, it can be devastating to a family for generations. We aim to equip you with practical and tested tools to transform your increase into a life-giving asset for your consumption and for your impact in the great commission. Eric Scovill considers himself to be a businessman for the Kingdom of God. His Christian faith shapes everything that he does, from the way he leads his family to the way he runs His businesses. Once a contractor, he followed God’s call on his life to leave it all behind and step into the great unknown. Now, he has an exclusive financial planning practice for HNW clients that don’t fit into the mold of the standard financial advisor’s plan. He is a co-founder of a cryptocurrency hedge fund, Bedrock Digital Assets Management, and a venture capital business consulting and syndication company, YouAre Launched. Together, these companies serve his clients and investors to provide a suite of alternative assets that fit inside a highly valuable financial plan tailor-fitted to the individual’s aspirations for their own finances. Wealth, and its impact on humanity, are among the most intriguing concepts worth pondering. The endless pursuit and insatiable craving for more, the collection of knowledge and assets held amongst the elite few, its ability to positively and negatively impact lives, the many teachings devoted to it in the Bible, and yet the relative unimportance placed on it by God; there is much to be studied and understood about this concept called money. The love of it is the root of all evil, yet a proper heart toward it can lead someone into a deeper faith and relationship with Jesus. Eric and his guests are sure to provide the listeners a nearly unquantifiable amount of value, exposing you to solutions you probably didn’t know existed and teaching you how to implement them yourself or with your own financial team. After listening, not only will you know how to maximize your income and your investments like the wealthy, you’ll also know how God’s rules and teachings around money can guide you into exponentially more while also protecting you from the pitfalls of excess wealth. Target audience: A couple seeking the tactical strategies employed by the high net worth community to multiply their wealth through a reduction in what goes out and a multiplication of what has remained within. They are growing in the awareness of the responsibility that accompanies this blessing and desire to be intentional with how money impacts their own lives as well as the lives of others. They want to be effective and efficient in their technical strategies and thorough in the assessment of the intangible effects their wealth brings.
Episodes

Monday May 06, 2024
Monday May 06, 2024
Are you ready to discover the future of pain treatment? Scientists may have just made a breakthrough that could revolutionize pain treatment and stop the opioid epidemic in its tracks. The future of pain relief and stopping this tragic epidemic has never looked brighter.
In this episode, Eric Scovill sits down with Tom Jenkins and Greg Sturmer of Elysium Therapeutics to discuss solutions to the opioid crisis. If successful in clinical trials, this discovery may finally offer a real solution to end the tragic opioid epidemic for good. Eliminating the risks of misuse – this could be a game-changer!
Here are some topics from today’s discussion:
The progression to addiction
The shift from acute to chronic use of opioids
The pendulum swing
How opioid addiction can affect anyone
Fentanyl production and its devastating effects
Episode Highlights:
[11:18] The Progression to Addiction
Tom discusses how opioid addiction often starts with prescription drugs and progresses from there. He explains that people don't just suddenly decide to use heroin - it begins with being prescribed opioids for legitimate pain and having leftover pills. Taking extra doses for their euphoric effects can lead to misuse and abuse as people seek out more pills from friends and family. This establishes a cycle of reinforcement that drives further-seeking behaviors and sets people up for addiction.
[20:30] The Shift from Acute to Chronic Opioid Use
The opioid crisis began in the 1990s when two major changes occurred. First, pain became the fifth vital sign in healthcare, increasing focus on pain management. Around the same time, Purdue Pharma released OxyContin, making opioids more suitable for long-term chronic pain through a controlled-release formulation. This shifted prescribing from predominantly acute, short-term pain to chronic pain and increased opioid prescriptions dramatically. While aiming to improve patient care, this unintendedly fueled the rise in prescription opioid abuse and overdoses.
[23:14] The Swing Back Towards Control
In 2011-2012, there was a "pendulum swing" in response to the worsening opioid crisis. Where focus had moved to chronic pain management and opioid exposure, the pendulum swung back towards controlling opioid use and abuse. Prescriptions dropped 44% as doctors became more hesitant. However, fatal overdoses remained the same because the pharmaceutical industry had not developed safer alternatives and formulations.
[44:42] Fentanyl Production and Its Devastating Effects
The opioid crisis has impacted virtually everyone. Greg notes that 90% of overdoses are from swallowing pills, not injection or insufflation as many assume. This is due to the proliferation of illicit fentanyl pills on the market of varying and often lethal potency. People unknowingly take more to feel the effects, not realizing the risks. As such, the crisis is difficult to address because opioid abuse cannot be easily identified - it affects everyday people across all demographics rather than just the stereotypical addict.
Resources Mentioned:
Elysium Therapeutics

Monday Apr 29, 2024
Monday Apr 29, 2024
Are you prepared to defend your faith and family?
This week, Greg Downey returns to join Eric and explore biblical perspectives on masculinity, spiritual warfare, and standing up for truth. With transparency and heart, Greg and Eric examine problems plaguing churches today. They also dive into what it truly means to be a godly man and father in today's world.
Whether you're a seasoned leader or just starting your career, gain practical insights into strengthening your moral foundation and preparing for challenges.
Here are some topics from today’s discussion:
Loyalty and defense in marriage
Defining biblical masculinity vs. toxic masculinity
A father's responsibility to protect his family spiritually
Major issues plaguing the modern church
Episode Highlights:
[03:50] What is Biblical Masculinity?
Real masculinity involves loyalty to one's spouse through honoring the marriage covenant before God, as well as integrity in business dealings. Masculinity also means protecting and providing for one's family - not just financially but spiritually and physically, including defending them from threats or harm. Greg notes men are called to balance each other out with their spouse through mutual support. Overall, biblical manhood entails honoring one's role to defend the family spiritually, physically and financially.
[10:09] What It Means to Protect Your Family Spiritually
Greg discusses protecting one's family spiritually by not leaving children's spiritual education solely to others. He emphasizes spending dedicated nightly time reading Scripture and telling Bible stories to impart understanding from a young age. Greg also stresses the importance of children comprehending spiritual warfare and discerning good from evil, while fathers set a godly example through upright conduct to aid children in learning discernment.
[20:56] The State of the Modern Church
Greg notes how in many churches, the focus seems to be on converting people but providing little discipleship beyond weekly sermons. He also observes how misogyny and lack of accountability have allowed spiritual abuse to take place. The church would do well to return to its roots as small fellowship groups rather than large productions.
[31:21] The Church's Evolution: How Paganism Influenced Modern Denominations
Greg shares his experience visiting the Vatican and uncovering how pagan rituals and idols became incorporated into Catholicism over time. While understanding the political motivations, it went against God's command to destroy all idols. The church must guard against man's tendency to organize beyond what Scripture prescribes.
Resources Mentioned:
Purim Ventures

Monday Apr 22, 2024
Monday Apr 22, 2024
Are you ready for a spiritual battle?
In this episode, Eric Scovill sits down with entrepreneur Greg Downey, who shares how his experience in the business world revealed the importance of acknowledging the spiritual side of life. Greg is an experienced entrepreneur and investor with over 20 years. He is the founder of Pirum Ventures, a venture capital firm focused on hands-on support of portfolio companies.
Today, Greg discusses the reality of spiritual warfare and emphasizes the need for believers to engage with Scripture and exercise the authority and gifts provided by God. He provides a biblical perspective on spiritual warfare, challenging Christians to prepare for spiritual battles through faith, prayer, and utilizing their God-given spiritual tools.
Here are some topics from today’s discussion:
Greg's background in early-stage companies and venture capital
Defining spiritual warfare and its relevance today
Jesus' teachings on faith, miracles, and preparing disciples
Personal experience with spiritual healing through prayer
Authority given to believers and call to action
Episode Highlights:
[09:38] What is Spiritual Warfare?
Spiritual warfare refers to the biblical belief that Christians are engaged in an unseen battle between forces of good and evil. As believers, we wrestle not against flesh and blood, but against spiritual powers of wickedness. Spiritual warfare involves defending against and resisting attacks from demonic spirits that seek to deceive, tempt, and destroy. It is an acknowledgment that there are supernatural forces at work beyond what is seen with physical eyes – and that through faith in Jesus Christ, we have been given authority and spiritual tools to fight against the enemy.
[19:00] Faith in Action: Jesus Trains the Disciples and a Story of Spiritual Healing
Jesus emphasized the importance of faith through both belief and works. He trained his disciples and sent them out, preparing them for testing through experience. Greg shares a personal story of spiritual healing through prayer with his family. This experience highlighted the spiritual aspect of healing and the authority believers have been given through Christ's name.
[34:00] Preparing for Battle: The Call to Engage in Spiritual Warfare and Advance God's Kingdom
Greg encourages listeners to actively engage with the spiritual realm through studying Scripture and utilizing the tools God has provided. While a relationship with God is key, believers also have a responsibility as active participants working to advance God's kingdom on earth. As believers, we need to prepare by acknowledging spiritual warfare and exercising the authority and power we have been given by Christ.
Resources Mentioned:
Purim Ventures
The Unseen Realm

Monday Apr 01, 2024
Monday Apr 01, 2024
In today's business world, it's easy to get caught up in chasing money, status, and success. But as believers, we're called to a higher standard of managing our resources in a way that honors God. In this episode, Eric Scovill and Pastor Nathan Rychener continue the conversation and tackle this important topic head-on. Through insightful biblical teaching and practical advice, take their challenge to reexamine your relationship with finances from a place of heart transformation. Find the encouragement to get into God's word, make a plan, and live generously!
Here are some topics from today’s discussion:
Rejecting Jesus through inaction in the face of cultural opposition
Understanding the Sermon on the Mount
Finding humility and motivation in God’s help
A Call for Contrition: Recognizing the lack of brokenness over sin
Tips to help you get started with the Bible
Practical steps to align your finances with God's purposes
Episode Highlights:
[11:57] Finding Motivation and Humility in God's Help
When you earnestly pray and seek God's guidance and assistance, your motivation to follow through on your intentions significantly increases. The essence of being poor in spirit is recognized as humbly approaching God, acknowledging that we possess nothing of merit to impress Him. This understanding shifts the focus from material poverty to a poverty of spirit, emphasizing the importance of relying on God's help in all endeavors.
[16:12] A Call for Contrition: Recognizing the Lack of Brokenness over Sin
In Psalm 119:136, the Psalmist expresses deep sorrow and sheds tears over the disobedience to God's law that he witnesses in the world. His heart is shattered because he understands that sin grieves God. This heartfelt response to sin contrasts with the current state of spirituality, particularly in America, where there seems to be a lack of contrition and brokenness over wrongdoing. This lack of remorse serves as a troubling sign of the spiritual sickness within our society. The Psalmist's example calls us to examine our own hearts and rekindle a genuine sense of sorrow and repentance for our collective transgressions.
[19:40] Tips for Getting Started with the Bible
For those wanting to get started with regular Bible reading, Nathan suggests beginning with short passages like the Sermon on the Mount to avoid getting overwhelmed. Developing a consistent reading plan is also important, whether it's a chapter a day or reading through the whole Bible in a year. Additional resources like the Bible Project videos can help provide context without replacing direct engagement with Scripture. Most importantly, they stress the need to pray and meditate on what is read in order to understand and apply it, not just check reading off a to-do list. With a plan and the Holy Spirit's help, regular Bible study can become a life-changing habit.
[23:17] Practical Steps to Align Your Finances with God's Purposes
Begin your financial journey by examining your heart attitude and embracing the concept of stewardship of God's resources. Gain a comprehensive understanding of biblical teachings on tithing, cheerful giving, and generosity. Develop a generous lifestyle by considering "how much" you can give in each opportunity, rather than questioning whether to give at all. Remember, the importance lies in giving generously, regardless of the amount, as your heart posture matters more than the dollar figure. Stay open to God's guidance in reshaping your financial goals, dreams, and priorities to align with His purposes. Prioritize obedience over personal desires and regularly seek divine guidance through prayer for your spending, saving, investing, and giving, ensuring alignment with God's will.

Monday Mar 25, 2024
Monday Mar 25, 2024
How serious are you about your faith? On the latest episode of “Wealth Well Done”, Eric and Pastor Nathan Rychener challenge comfortable Christianity. They discuss the high stakes of judgment day and urge listeners to truly know and obey God, not just check boxes. Nathan emphasizes responding immediately to Holy Spirit's conviction. Don't rely only on secondhand knowledge - regularly read Scripture yourself. This episode will stir you up and make you reconsider your relationship with Christ.
Here are some topics from today’s discussion:
Rediscovering the fear of the Lord
Fear of the Lord for eternal perspective and finances
Uncovering the true meaning behind the Sermon at the Mount
Repentance and obedience in Christianity
Surrendering all to love God
Episode Highlights:
[06:34] Rediscovering the Fear of the Lord
In the American church, the fear of the Lord has been lost, along with the reverence, humility, and contrition that accompany it. This absence is evident in our lack of recognition of God's holiness, as seen when Isaiah encountered Him in Isaiah 6. Overwhelmed by a sense of his own unworthiness, Isaiah cried out and fell before the Lord. It is this realization that ignites the fear of the Lord within us. This fear is what safeguards us from sin and compromise, guiding us to walk in integrity and wholeheartedness before God. In an age where this fear is desperately needed, let us seek to rediscover it and cultivate a deep reverence for the Lord.
[10:15] Fear of the Lord for Eternal Perspective and Finances
Without the fear of the Lord, all perspective is lost. We find ourselves chasing after temporary and trivial things of this world, losing sight of eternity and what truly matters. The weight and importance of things in God's eyes fade away when we lack the fear of the Lord. Living for eternity becomes impossible without this reverence. Taking this concept to the realm of money, it becomes clear that faithful handling of finances in light of eternity requires the fear of the Lord residing within our hearts. To gain a proper perspective and live with eternal significance, let us cultivate a deep reverence for God in every aspect of our lives.
[19:27] Genuine Repentance: Actions that Reflect True Transformation
In Acts 26, Paul boldly declares his message of repentance and turning to God to King Agrippa. He emphasizes the importance of performing deeds in line with true repentance. While salvation is a free gift based on the grace of Jesus, it requires action when Jesus says, "Follow me." Paul's message resonates as he urges believers to demonstrate their repentance by taking tangible steps towards change. Whether it's breaking free from addictions or rectifying dishonest practices, genuine repentance calls for actions that align with the transformation of the heart.
[24:43] Wholehearted Devotion: Surrendering All to Love God
In emphasizing the first and most important commandment, Jesus instructs us to love the Lord our God with every aspect of our being - heart, soul, mind, and strength. This goes beyond mere sentimentality; it entails wholehearted devotion and complete surrender to God in every area of our lives. It means obeying Him in all aspects - from our relationships to our finances, from our physical well-being to our business endeavors. True love for God leaves no room for half-heartedness or selective obedience; instead, it encompasses a radical surrender, acknowledging that everything we have belongs to Him, and we willingly follow His guidance in all things.

Monday Mar 18, 2024
Monday Mar 18, 2024
Learn from an expert how to future-proof your business!
In this landmark 50th episode of the Wealth Well Done podcast, Eric Scovill sits down with his longtime business coach and mentor Shawn Dill. Shawn has provided Eric invaluable guidance over the years, helping him achieve success in his business and beyond.
From navigating political trends to adapting with changing technologies, gain insights on maintaining stability during uncertain times. Shawn also offers valuable advice for scaling your company to more affluent clientele. Learn trends in areas like social media, AI, and podcasting that can impact businesses.
Plus, don't miss Shawn's inspiring personal story of overcoming obstacles and achieving success through the “Book Yourself Solid” program.
Here are some topics from today’s discussion:
Accurate economic predictions
Navigating political polarization
Trends in social media, AI and podcasting
Scaling your business to affluent clients
Overcoming obstacles and achieving success
Episode Highlights:
[04:46] Looking Ahead to Uncertain Times
Shawn provides his perspective on the current economic climate and shares why he believes continued decline is ahead despite attempts at a soft landing. With accurate predictions of COVID's early impact under his belt, his forecasts offer valuable insight for financial planning.
[12:00] Navigating Political Polarization and Maintaining Neutrality
Understand multiple perspectives and plan for either election outcome rather than making impulsive decisions based solely on partisan views. Shawn's advice is to pick their lane but also consider all possibilities as one side is guaranteed to win each election cycle.
[16:11] Tracing Societal Shifts Through 40-Year Cycles
Shawn draws from the insights of book “Pendulum” to trace the 40-year cycles that have shifted societies between more individualistic "me" eras and more collective "we" periods throughout history. He notes that 1983 marked the peak of the last "me society" while 2023 represents the height of the current "we society" trend. He points to the rise of social media in the early 2000s as signaling the move towards greater collectivism after the individualism of the 1980s. Shawn also predicts AI may be the force that signals the next major shift away from a "we" mindset in the coming decades.
[30:45] Preparing Businesses for Recession
Shawn discusses the difference between serving upmarket versus downmarket clients. While a recession may negatively impact those at all wealth levels, the effects are significantly greater for those with less wealth and purchasing power as even a small percentage loss can disrupt their budgets and lifestyles. Shawn recommends that small and mid-sized businesses focus on marketing, experiences, and sales processes catered to those in the upper middle and upper classes who still retain the ability to spend during an economic downturn.
Resources Mentioned:
www.shawndill.com
www.bookyourselfsolid.com
Pendulum by Roy H. Williams and Michael R. Drew

Monday Mar 11, 2024
Monday Mar 11, 2024
Keep your legacy intact with the right life insurance strategy. Most people think of life insurance as simply coverage, but did you know it can help pass on a multi-million dollar inheritance intact?
In this episode of Wealth Well Done, Eric Scovill provides practical advice on using different types of life insurance to protect your family's financial future. Eric discusses long-term care options, the pros and cons of term vs. permanent policies, and how to determine the right death benefit amount. Eric also shares how to avoid estate taxes through an irrevocable life insurance trust.
Whether you're just starting out or have significant assets, learn tactical tips to effectively use life insurance in your financial and estate planning.
Here are some topics from today’s discussion:
Long-term care insurance options explained
Differences between term, universal, and whole life policies
How to determine the right death benefit amount
Avoiding estate taxes with an irrevocable life insurance trust
Creative strategies for high net worth individuals
Episode Highlights:
[03:26] Long-Term Care Coverage
Eric notes that older policies from when the coverage first launched had advantages like fixed premiums that are no longer seen in today's marketplace. He warns that new standalone long-term care policies typically allow for rising premiums without guaranteeing coverage amounts. However, Eric advises connecting long-term care insurance to a life insurance policy provides more stability, as it fixes the premiums while tying it to a death benefit.
[13:00] How to Determine the Right Death Benefit
When determining the appropriate life insurance death benefit amount, Eric stresses considering outstanding debts, foreseeable large expenses like funding children's college educations, and replacing the income that would be lost upon the insured's death, as this is typically much higher than most clients initially estimate and often leads to a significantly higher coverage level than first proposed.
[15:57] Other Types of Insurance Policies
Universal life insurance: Offers a fixed death benefit that stays the same. Premiums are generally lower than whole life. Cash value can be accessed but may affect the death benefit. Meant to last a lifetime.
Whole life insurance: Allows the death benefit to increase over time. Offers more flexible access to cash value through policy loans. However, premiums are higher than universal life. Can be oversold as a retirement income source.
Survivor life insurance: Insures two individuals (e.g. husband and wife) under one policy. Reduces risk for the insurance company, lowering premium costs compared to individual policies.
Irrevocable life insurance trust: Allows transferring life insurance contracts to a trust to avoid estate taxes by moving policies outside of an estate. Can help pass on policies and cash value to beneficiaries tax-free.

Monday Mar 04, 2024
Monday Mar 04, 2024
Have you ever wondered what riders and deductibles really mean?
In this episode, Eric Scovill dives into the importance of having the right insurance policies in place to protect your future. He breaks down the basics of key property, health, and life insurance policies in an easy-to-understand way. From homeowners coverage to long-term disability, Eric explains what you need to know about assessing risks, reviewing policy details, and choosing the right amount of protection.
Tune in to finally understand insurance and feel confident that you and your loved ones are protected for whatever may come!
Here are some topics from today’s discussion:
Understanding your homeowners and auto policies
Choosing the right amount of coverage
Reviewing your coverage with your agent
Disability insurance as income replacement
Life insurance for beneficiaries
Long-term care coverage options
Episode Highlights:
[08:15] Why Choosing a 'Premium' Insurer is Worth It
Eric cautions that while it's important to ensure premium increases are reasonable, consumers should avoid simply choosing the cheapest policy. He warns that low-cost coverage may lack important protections, leaving one vulnerable if a claim occurs. It's best to go with a reputable insurer known for treating customers well during the claims process. After all, insurance is meant to provide relief in times of need. Getting the lowest price isn't wise if it means the policy won't adequately cover expenses when they're most needed.
[11:33] How to Ensure Your Insurance Fits Your Needs
Eric cautions that agents competing primarily on price may inadvertently reduce important policy protections. He advises policyholders to proactively discuss their coverage needs with agents to identify any gaps. Rather than simply increasing premiums, the goal should be understanding what level of protection is appropriate for an individual's unique circumstances and risks. Open communication with one's agent helps safeguard against both underinsurance and overpaying for unnecessary coverage.
[12:15] Things to Consider When Securing the Right Insurance
Some key things to consider when getting an insurance policy include:
Your specific risks and exposures - think about what you need protection from based on your situation.
Policy limits and coverage amounts - ensure these are sufficient for your needs and account for inflation over time.
Deductibles - higher deductibles can lower premiums but increase your costs in a claim.
Reputable insurer - choose a company with a strong record of customer service and claims handling.
Optional riders/endorsements - additional coverage provisions can boost protection for a modest cost.
Agent relationship - work with an agent you trust to advise on your options and help you understand complex policies/terms.
Regular reviews - insurance needs can change, so check in periodically that your policies still align with your circumstances.
Cost vs. protection - don't underinsure to save money in premiums if it leaves you vulnerable financially.
[20:27] Other Types of Insurance:
Property and casualty insurance: Covers damage to homes, vehicles, and other property. Includes homeowners and auto policies.
Umbrella insurance: Provides additional liability protection above the limits of other policies like auto or homeowners.
Disability insurance: Provides income replacement if an illness or injury prevents one from working. Includes both short-term and long-term disability.
Life insurance: Provides a death benefit to beneficiaries upon policyholder's passing. Can be used for estate planning purposes.
Long-term care insurance: Helps cover expenses for assisted living or nursing home care if one becomes unable to perform daily activities.

Monday Feb 26, 2024
Monday Feb 26, 2024
According to research from the Exit Planning Institute, only 20% of businesses will successfully transfer or sell, while 80% will not. And in that 20% of businesses that do manage to sell, 75% of those owners profoundly regret selling within one year of the transaction.
In this episode, Eric Scovill discusses important factors for business owners to consider when deciding whether and when to sell their company. He discusses reasons for selling a business, some steps business owners should take before a sale, what life after the sale looks like, and the importance of maintaining purpose and priorities like one's relationship with God.
Here are some topics from today’s discussion:
Reasons to sell a business
Preparing for sale: adopting buyer's perspective, valuing intangibles
Life after sale: potential identity crisis, maintaining purpose
Episode Highlights:
[02:38] Reasons to Sell a Business
Here are three key reasons Eric discussed for potentially selling a business:
Reducing risk - Owning a business represents the majority of most owners' net worth, making it a highly concentrated risk. Selling allows diversifying into less risky assets.
Succession planning - An owner may want to sell as they age out of running the business at full capacity or recognize new leadership is needed to take it to the next level.
Health concerns - The stress and long hours required to run a business can negatively impact one's health over time. Selling may allow an owner more balance to prioritize their well-being.
[13:09] Stewarding Your Legacy
Eric explains that if a business owner's goal after selling is to produce an income stream with similar tax advantages as their business, they will likely need to invest in alternative asset classes like real estate, royalties, or private placements. However, Eric cautions that stepping into investments as a truly passive form of income could remove the owner from their area of expertise. Instead, he suggests it may be better to bring in managers to continue running the existing business rather than attempting to replicate the income as a novice investor in new asset classes.
[20:20] Adopting a Buyer’s Mindset
Some of the key strategies Eric discussed for adopting a buyer's mindset when preparing a business for sale included:
Focus your financial reporting and metrics on what a buyer wants to see (ex.a breakeven business with recurring revenue and low accounts receivable)
Value intangible aspects like having strong, hungry managers in place who can continue running the business successfully.
Ensure the business is not overly dependent on the current owner and that it would still function well without them. Make sure value is represented in the systems and operations, not just the individual.
View contracts, supplier relationships, margins, and other areas from the perspective of how an acquirer could further improve them, rather than being satisfied with the status quo.
Resources Mentioned:
Generational Equity
Secrets of the Secret Place by Bob Sorge
To Whom Much is Given by Jay Link
Halftime by Bob Buford

Monday Feb 12, 2024
Monday Feb 12, 2024
As leaders, it’s so easy to feel overwhelmed and lose your way during challenging times. Join today’s discussion as Eric Scovill continues the conversation with Gary Harpst of LeadFirst. Gary encourages leaders to view challenges with people as part of the job, and outlines a simple process for building unity in your team that actually works. Learn how to diagnose issues, get employees back on track, and view problems as opportunities.
Here are some topics from today’s discussion:
Defining the four parts of human architecture
Diagnosing problems at the heart, mind, imagination and action levels
Embracing chaos as God-ordained and our purpose to bring order
Caring for people to build trust and shared purpose
Episode Highlights:
[02:57] A Biblical Framework for Diagnosing Team Issues
Gary outlines a biblical framework for understanding human nature and how it can help leaders diagnose problems within a team. He explains that Scripture depicts human architecture as consisting of four main components: the heart, mind, imagination, and actions.
The heart represents our deepest desires and purposes. The mind is where we use reason and principles to form ideas. The imagination then takes those ideas and makes them more tangible or visible. Finally, our actions flow out of what we imagine.
Gary says that when a team member is struggling or not fitting in well, a leader should consider which of these four areas may be the root issue - is it a heart/purpose problem, a mental reasoning problem, a lack of clear vision/imagination, or a disconnect between imagined goals and actions? Understanding this human architecture provides a starting point for diagnosis that addresses the real problem, not just surface symptoms.
[07:40] The Power of Casting the Vision
It’s important that leaders clearly articulate a shared vision for the organization. By explaining the vision in a way that engages both the mind and imagination, a leader can use their own imagination to bring the envisioned goals to life in a compelling manner. This process of casting the vision draws people into adopting the same purpose and direction, effectively motivating the team towards unified goals.
[22:31] The Messy Reality of Leadership
Gary uses a farming analogy to illustrate that dealing with difficulties is an inevitable part of leading people. While machines are predictable, organizations consist of humans with complex lives outside of work. Gary encourages leaders to accept that relational problems and "piles of crap" will arise, as handling challenges with employees is as much a job responsibility as dealing with manure is for cattle farmers.
[27:23] The Bond of Love
While physical objects are held together by electrons, an organization is comprised of human beings whose connection is formed by caring for one another through love. Gary states that authentic care, concern and love for each other as fellow image-bearers of God is what truly unites people and allows them to work well as a cohesive team.
Resources Mentioned:
LeadFirst
Built to Beat Chaos: Biblical Wisdom for Leading Yourself and Others