Garrett Gunderson is a best-selling author and the man behind Wealth Factory, a business designed to help entrepreneurs optimize their personal and business finances to reach the best possible success. If you love keeping it profitable, you will love this chat with Garrett Gunderson.
What We’re Chatting About This Week
We start our chat discussing the difference between revenue and profits. Back in my days as a Boy Scout camp staffer, one summer I ran the camp stores. I had a revenue goal each week, and I hit that goal all but one week of the summer. One day my boss told me that expenses were up as well, and I responded that “you gave me a revenue goal, not a profit goal.” I worked toward the goal I was given. When you own a business yourself, revenue is great for bragging rights, but it's what you bring home, the profit, that counts.
Garrett started a business as a teenager washing cars and won a $5,000 entrepreneurship prize. Rather than blow it on video games like most high school guys, he decided to invest the money and try to grow his wealth and leave his old, small hometown. He found a combination of good and bad information about managing his finances, and eventually found an internship in the wealth management space.
As the tech bubble burst and investors fled the markets, he was interested in finding options to profit when others are watching their financial situation go into turmoil. After traveling around meeting professional investors, he started finding trends where wealthy families were finding the best success. That led him to better understand taxes, investments, insurance, and other financial management techniques. He isn't into money management, he's into money efficiency.
Garrett has lots of great strategies to improve your money, but you have to listen to get his five part framework and other tips to maximize your personal profits.
This Week’s Sponsor
This week's episode is brought to you by Casper, maker of the world's most comfortable mattress and pillow. Head to CasperTrial.com/Profit for $50 off your mattress order of the ridiculously comfortable Casper mattress. As a podcast fan myself, I've heard about Casper for years. I started my personal experience with Casper trying out the Casper pillow, which is my favorite pillow I've ever owned, really! I sleep on it every night. Invest in a good night's sleep at Casper.
This Week’s Guest
Garrett is Chief Wealth Architect at Wealth Factory and author of the NY Times best-seller, Killing Sacred Cows. Wealth Factory helps entrepreneurs optimize cash flow, streamline their finances and keep more of their hard-earned money so they can make more powerful investments in their best wealth creator: their business. Garrett has appeared multiple times on ABC News Now, Your World with Neil Cavuto on Fox, CNBC’s Squawk on the Street and more — and his first firm made the Inc 500.
Other Resources Mentioned
- PPP065: Micro Real Estate Investments with Clayton Morris
- PPP066: Mobile Home Investing with Jefferson Lilly