Go Pro: The Decision That Doubles Your Business Value

Owners stuck in amateur habits: one decision to go pro can double enterprise value in 18 to 36 months. Drawing on pivotal advice from industry legend Ric Edelman, Justin Goodbread lays out the Go Pro Standard: identity, investment, and infrastructure.

In this episode: Years ago in Saint Paul, Minnesota, Justin sat across from industry legend Ric Edelman complaining about his own mediocrity. What he heard back was that he was one decision away from a breakout, and the only question was when he would go pro. He decided in that moment, and it cost him right away. He walked away from $250,000 in revenue, moved his wife and three children from their dream house into a double-wide mobile home, and cut his pay to $50,000 a year. The day his name ran in Forbes as a Best in Class leader, his wife called him crying because the truck was stuck in the mobile home driveway and the kids would miss their Christmas party.

Justin then walks through seven marks of a mediocre practice. The first is seeing yourself as the technician instead of the business owner. He describes an applicant producing $360,000 across 280 households with 25 to 30 meetings a week, proof that the clients own his calendar. Mediocre owners wait for perfect information, while masters get to 51% and execute. Mediocre owners answer every problem with one more credential and call it an investment.

His Go Pro Standard has three parts: identity, investment, and infrastructure. Identity means deciding, not choosing, that you are the business owner, because you attract who you are. Investment means putting capital into a coach, marketing, and team. The math is simple: invest $100,000 in marketing, add $100,000 of recurring revenue, and your take-home stays flat while a 6 to 8 multiple adds $600,000 to $800,000 to your net worth.

What you'll learn:

• The one decision Ric Edelman told Justin he was away from
• What going pro cost Justin, and why he made the move
• Seven marks of a mediocre practice
• Why 25 to 30 meetings a week means clients own your calendar
• Why masters act at 51% instead of waiting for certainty
• Identity: deciding to become the business owner
• Investment: where to put money in a coach, marketing, and team
• How recurring revenue and a multiple turn marketing spend into net worth

Key takeaways:

• You attract who you are.
• The mastery level moves at 51% and executes.
• Look at your last 30 days: how much time did you spend as the technician and how much as the owner?

Who this episode is for: small business owners and financial advisors who feel stuck in mediocrity, searching for how to think like a business owner, invest in growth, or double business value.

Owners who went pro and doubled their company's value can apply to join Justin: https://www.decamillionairedecoded.com/ If you advise business owners, the Million Dollar Advisor training lays out the rest of the Go Pro Standard Justin used in his own firm: https://youtu.be/84rh5RNuvvM Relentless Value Coaching is where advisors make the identity, investment, and infrastructure shifts with Justin: https://relentlessvaluecoaching.com/