Podcast

Susan Latremoille advocates a holistic approach to financial advisory, addressing a key issue: many people reach retirement or other major life transitions only to feel less fulfilled than expected. Through Next Chapter Lifestyle Advisors, she trains and empowers financial advisors (and accountants and lawyers) to recognize the deeper challenges people face and guides them in helping clients prepare effectively for life after a career. As well as helping those pre-planning, on the cusp, or already retired.

Life transitions—retirement, selling a business, or stepping away from work—can disrupt a person’s social connections, identity, purpose, and structure (SIPS). Without thoughtful planning, these changes often lead to isolation, illness, and other adverse effects. While the “honeymoon phase” of retirement feels exciting, it eventually leaves many wondering, “What’s next?”. Susan is on a mission to retire the word retirement. It’s just the next chapter.

Susan suggests that preparing for life’s next chapter is like working with a trainer; it’s a best practice that ensures a smoother transition. Her Ironclad Process is designed to help clients build a “happiness portfolio” by connecting their financial and life goals. Her “rich life” philosophy centers on three key principles: live well, give back, and leave a legacy.

By creating a comprehensive life plan, followed by a financial plan and suitable products, clients can cultivate a truly fulfilling life. Retirement isn’t the end; it’s an opportunity to write a new, purpose-driven chapter.

What’s Inside:
—Why we need to RETIRE the word Retirement.
—SIPS, the common challenges that come with transitioning from your career.
—How financial advisors can assist with your happiness portfolio.
—The three pillars of a “Rich Life”.

Mentioned In This Episode:
Next Chapter Lifestyle Advisors: http://www.nextchapterlifestyleadvisors.com/
MBA CPA: http://www.mbacpa.ca

Brian Stephenson is what we like to call a “recovering lawyer,” and his business partner is a “recovering accountant.” Together, they created Lakepoint Capital Partners, a commercial lending specialty firm with a mission to make debt work for business owners rather than against them.

The ideal clients for Lakepoint are those looking to acquire new facilities, optimize existing ones, or possibly acquire smaller businesses. Lakepoint accesses an array of private institutional lenders for real estate lending and collaborates with banks, credit unions, and long-standing lenders with whom their clients already have relationships. In a challenging industry environment where capital is harder to access and debt is difficult to obtain, even for bankable clients, Lakepoint works with all the banks that want to work with you, ensuring you get the best deal. For entrepreneurs, being told what to do can feel like a death sentence, so Lakepoint helps structure flexibility and a range of possibilities with lenders.

There are many advantages to having pre-approval in your back pocket, so even if you’re not ready for a deal just yet, Lakepoint can guide you in putting together a robust legal and financial team to position you for future lending. Many businesses have untapped assets that allow them to access the right type of debt. Get the debt that works for you and the future you want.

What’s Inside:
—How to make your debt work for you.
—The ideal client for Lakepoint Capital Partners.
—The value in debt flexibility and preapproval.

Mentioned In This Episode:
—Lakepoint Capital: https://www.lakepointcapital.ca/
—brian@lakepointcapital.ca
—MBA CPA: http://www.mbacpa.ca

Ross Derrick is the owner of Derrick’s Steakhouse, a 1950s-inspired steakhouse with a modern flair. Entrepreneurs are driven by the desire to create value and contribute to the world, and that’s exactly what Ross does. After a decade of side hustles, his entrepreneurial journey wasn’t a choice — it was a necessity. When faced with a major holiday where he couldn’t get the day off to spend time with his daughter and was unable to find a babysitter, he knew he had to make a change. So, he took a bold step, secured an investment, and launched what is now a restaurant group known for its renowned culture of positivity.

Ross admits, “I’m not great at anything, but I’m good at a lot of things,” which allows him to rely on the expertise and creativity of his employees. His approach of listening to his staff fosters a sense of cohesiveness and empowerment within his business. By prioritizing a positive work environment over just delivering a great customer experience, Ross has built a company where people actually enjoy working. You might wonder — what’s his secret formula? Ross credits his leadership style to a heavy dose of empathy, leading with his heart, trusting his intuition and believing in his team. He cares about people, and they can feel that.

The hospitality industry is unique. Some employees build lifelong careers, while others are just passing through. Regardless of the path, it’s a field where you can learn a lot about professionalism and life. You can enjoy this atmosphere at any of Ross’s establishments: Broken Anchor Kitchen, Broken Anchor Catering, Globe Café and Restaurant, and, of course, Derrick’s Steakhouse.

What’s Inside:
—An entrepreneurial journey born through drive and necessity.
—The major impact of empathy and positivity in leadership.
—The unique possibilities of the hospitality industry
—A restaurant group with renowned culture and guest experience.

Mentioned In This Episode:
—Derrick’s Steakhouse: https://www.derrickssteakhouse.ca/
—MBA CPA: http://www.mbacpa.ca

Anyone running a brand anywhere must embody an entrepreneurial spirit. Today’s guest, Kristin Holomis, Founder of Le Dog Company, exemplifies this perfectly. Le Dog is a premium orthopedic leather dog bed company, born from Kristin’s passion for both dogs and style.

Being a business owner and entrepreneur is about identifying gaps in the market and creating value to fill them. Kristin describes her niche as ‘White Space’—while there are markets for “disposable” dog beds, well-known luxury brands, and comfort-centric options, Le Dog offers something unique: a blend of style and function. As the only non-launderable pet bed on the market, the brand has achieved a 30% return customer rate, highlighting the impact of her product.

So, what does the future hold for Le Dog? For entrepreneurs, building energy and passion behind a brand is key. Kristin aims to achieve this by fostering a community of loyal, like-minded dog owners, which she’s already started through her Ambassador Program. Thanks to Kristin, MBA listeners can “Live the Le Dog Life” with a 20% discount using the MBAWAY20 code on the Le Dog Company website.

What’s Inside:
—The importance of entrepreneurial spirit.
—Finding “White Space” to create value in the world.
—Using community building to create loyal customers and a lasting brand story.
—A special discount for listeners at Le Dog Company.

Mentioned In This Episode:
—Le Dog Company: http://www.ledogcompany.com
—kristin@ledogcompany.com
—MBA CPA: http://www.mbacpa.ca

After a brief but enjoyable discussion about his Scottish heritage and Scotland’s football, we get into the main reason Scott McKee, Senior Investment Counselor at Cardinal Capital Management, is with us today: Cardinal Capital is opening a new location in Kelowna.

The financial world is full of alphabet soup titles, with no shortage of designations for financial advisors, Scott explains. He breaks down the meaning of some of the most common acronyms: CFA (Chartered Financial Analyst), CFP (Certified Financial Planner), CIM (Chartered Investment Manager), PFP (Personal Financial Planner), RFP (Registered Financial Planner) and more.

But what do these designations mean, and how do you pick the right advisor? Scott highlights three key points to consider when searching for the right financial advisor:

1. Look for the CFP (Certified Financial Planner) designation.
2. Consider the advisor’s experience, as well as your own experiences with previous advisors.
3. Trust your gut and do your due diligence.

If you’re in the market for an advisor, you might want to consider if you are the right fit for Cardinal Capital. At Cardinal, they focus on growing your income, maintaining consistency and educating you as a client in an easy-to-understand manner. At the Kelowna location, you can expect to find six independent advisors. However, Cardinal Capital works with more than 100 independent advisors in total, with more transitioning to in-house roles all the time.

What’s Inside:
—Cardinal Capital opening in Kelowna.
—What to look for in a financial advisor?
—Are you the right fit for Cardinal Capital Management?

Mentioned In This Episode:
—Cardinal Capital Management: https://cardinal.ca
—MBA CPA: http://www.mbacpa.ca

Jeff Swan from Sellside M&A has introduced an innovative platform called A Happy eXit tailored for business owners navigating the transition process. As two-thirds of business owners, particularly baby boomers, are preparing to retire or make transitions, A Happy eXit is designed to support those with businesses valued between $5 million and $50 million, especially in industrial sectors. Beyond the straightforward sale price, the platform emphasizes the importance of recognizing the hidden value in a business, such as intellectual property, licenses, strategic advantages, unique processes, and company culture. Their four-component assessment framework—focusing on financial health, legal aspects, operational processes, and revenue—ensures a comprehensive approach to selling a business.

With A Happy eXit, business owners gain access to everything they need for a successful transition, including expert coaching, essential tools, and a supportive community. The platform is set to launch in September, and those interested can join the waitlist to be among the first notified. Additionally, the first 100 people who sign up will receive free lifetime access to A Happy eXit’s invaluable resources, making this a crucial opportunity for those planning their next chapter.

What’s Inside:
—An exciting new platform for business owners.
—An important look at the hidden value in businesses.
—Don’t miss the awesome incentive to join A Happy eXit.

Mentioned In This Episode:
—A Happy eXit: https://ahappyexit.com
—Sellside M&A: https://sellsidema.com
—Sellside M&A : Exit Readiness Grader: https://sellsidema.com/exit-readiness-grader/
—MBA CPA: http://www.mbacpa.ca

Steve Geddes is a new friend of mine, and when we hit it off, I knew I had to have him share his incredible business story and advice on the podcast. Steve’s journey is a masterclass in understanding and scaling a business. He emphasizes that to scale effectively, you must understand every facet of your business—from the overall flow to the finer details. In order to deliver on your promises, you need to grasp the whole process. Steve knows there’s no magic pill for business success, but the closest thing to it is having a solid template and truly understanding your market. His approach combines passion, hard work, and strong relationships, shunning the “spray and pray” marketing tactics for targeted efforts where customers are most likely to be found.

Steve explains where he finds opportunities and customers via commercial work; more so, he emphasizes the potential of referrals, which generate warm leads and drive growth. Steve advises selling with passion and marketing as a “product enthusiast” rather than the traditional negative association many might have with a salesperson. This shift is critical to connecting with customers genuinely. Importantly, he notes that you don’t need to be your business’s target customer; instead, you must understand and find excitement in whatever you’re doing. This enthusiasm will resonate with customers and naturally lead to sales, making your business thrive. Steve was generous enough to share his phone number and email so that The MBA Way listeners could pick his brain even more!

What’s Inside:
—Is the way you’re scaling your business working?
—Selling with passion; no more toxic salesman.
—The “secret” to understanding your business and delivering promises.
—Referrals: The underrated lead generator.

Mentioned In This Episode:
—Call or Text Steve: 25021231622
—Steve@sgefurniture.com
—Leather Repair, Plastic, Vinyl Restoration: Fibrenew Kelowna: https://fibrenew.com/kelowna
—MBA CPA: http://www.mbacpa.ca

This Client Spotlight episode features MBA client Lucas Griffin, president of Secure-Rite. These spotlights serve the purpose of providing insightful advice and resources to help other entrepreneurs in their business and life.

Secure-Rite, founded in 2005, is changing the way the world views and uses shipping containers by bringing people and portable spaces together in meaningful ways. Lucas shares his journey to launch, leading up to his great team in multiple provinces 19 years later. His entrepreneurial journey is one of change and growth, as he is always learning and creating new value in the world.

Lucas fires off a harsh reality; owning a business is not an easy way to make money. And in the same vein, it can’t be your only purpose. Fired up by his customers and his team, Lucas is engaged in a bigger purpose, something he outlines in the Secure-Rite Values: Community, Excellence, Agility, and Cowboy Grit. He also highlights three critical positions in any business you must have clearly defined values, purpose, and roles.

We could have taken this conversation down many roads, but it is an inspiration to hear about Secure-Rite’s innovation in the storage and shipping container industry as well as Lucas’s skills and passion as a leader and entrepreneur.

What’s Inside:
—Client Spotlight: Secure-Rite, innovation in the storage and shipping container industry.
—3 critical positions for every entrepreneur to define in their business.
—Finding purpose in your business beyond financial success.
—Secure-Rites’ values and how they contribute to their operations.

Mentioned In This Episode:
—Secure-Rite Mobile Storage: https://www.secure-rite.com/
—EOS Worldwide: https://www.eosworldwide.com/
—Wholehearted Leaders: https://www.wholeheartedleaders.com/
—MBA CPA: http://www.mbacpa.ca

How much better would you sleep at night if you knew your life was covered? Today I’m joined by Mike St. Croix at Covello Financial. MBA has personally completely switched to Covello because of the incredible work they’re doing with insurance and benefits.

Covello takes a different approach to finances and insurance because they think like entrepreneurs. They put the client first and they understand this is an investment in yourself and your employees. While every business might say they’ve got the best cost for the best service, Covello truly does. We discuss three hallmark services that set them apart:

•Their unique service model lessens the administrative burden
•They proactively price shop, making sure you’re getting the best deal when the market changes
•They are in constant review of fees to increase compound interest in group retirement and benefit plans

They are out to save you and your employees money because insurance and benefits aren’t something you think about till you need it … and they want you to know they’ve got you covered.

What’s Inside:

—Why MBA switched to Covello Financial.
—What value can Covello provide to entrepreneurs?
—Three key service differences that Covello provides.

Today’s Guest:

Michael St. Croix is an entrepreneur with 5 years of business experience in property management, enterprise sales and start-ups. After playing three years of professional hockey under a New York Rangers contract, Michael retired from professional sports in 2015 and attended the Asper School of Business in Winnipeg, Manitoba.

He is now the Chief Operating Officer for Covello Financial Group. They provide Group Benefits, Group Retirement, Estate & Succession Planning, and Financial Planning for Canadian business owners.

Mentioned In This Episode:
—Covello Financial Group: http://www.covellofinancial.com
—MBA CPA: http://www.mbacpa.ca

“To get the best marketing results, you’ll need to assemble a team of badass people to work with you. Luckily, we have them in spades and raring to go.” That’s pulled straight from William Walczak’s website at Hiilite and it’s the same energy he brings to today’s conversation.

William works to bridge the gap between the scientific engineer brain and the aesthetic brain, formulating a total genius design and marketing combination. People do business with people who are passionate about their business; that has to translate into everything you do. Hiilite hallmarks on three topics we really get into in this chat.

1. Everything Communicates! — this profound statement means you literally cannot afford not to be intentional with every aspect of your business.
2. Where are you cringeworthy??? — Find those impediments to growth and make a change!!
3. You can’t manage what you can’t measure! — Data across companies, growth charting, and maximizing ROI — William explains all these crucial points.

If you bring in a professional to tell you what the next best step is, it is almost certainly going to be whatever they are selling. Hiilite helps you see what you need to see, so that your business can grow!

What’s Inside:
—Bridging the gap between science and aesthetics in marketing.
—Communicating your business to the world and ideal clients.
—Finding your impediments to growth.
—Why data measurement is important in the growth process.

Mentioned In This Episode:
—Hiilite: https://hiilite.com
—William Walczak, MBA – The University of British Columbia | LinkedIn: https://linkedin.com/in/williamwalczak
—William Walczak on Instagram: https://instagram.com/william.walczak
—MBA CPA: http://www.mbacpa.ca