- Learn how financial life planning help merge your money with your life
- Discover how to build a custom portfolio from scratch based on your objectives and risk tolerance
- Find-out how to get your money life going
- Download Justin’s Free Guide: 3 Things Multi Millionaires Do to Grow Their Wealth: https://kranefinancialsolutions.com/3things/
Where are you going?
If you don’t know where you are going you will drift through your life.
Justin Krane, a Certified Financial Planner professional, is the founder of Krane Financial Solutions. Known for his savvy, holistic approach to financial planning, he advises his clients on how to unite their money with their lives and businesses.
In this episode, Justin shares how he helps entrepreneurs identify, clarify and meet goals for increasing their business revenue and create a bigger vision for their business through education and financial modeling.
Check out these episode highlights:
- 01:42 – Justin’s ideal client: “My ideal client is a business owner that’s doing a million dollars in sales, has at least $250,000 in profits, has about five employees and has investable assets of roughly a half a million dollars.
- 02:02 – Problem Justin helps solve: “Financial clarity. If you can’t see what’s going on in your business and with your money, you don’t know you have a problem.”
- 03:49 – Typical symptoms that clients do before reaching out to Justin: “So, from a business owners’ perspective, they are guessing with money, they’re guessing and making decisions.”
- 04:37 – What are some of the common mistakes that folks make before finding Justin and his solution?: “So, number one, is you’re not automating your finances. You’re not pulling out a certain amount from your business to save and invest for your personal future.”
- 05:45 – Justin’s Valuable Free Action(VFA): Automation, like literally that means linking like your business checking account with your personal checking account, and automating a certain amount of money for that goal you have.
- 06:41 – Justin’s Valuable Free Resource (VFR): Download 3 Things Multi Millionaires Do to Grow Their Wealth: Visit https://kranefinancialsolutions.com/3things/
- 06:59 – Q: How do business owners decide whether the investment they’re making is smart or a waste of money?? A: If you think you can make a three times rate of return on your investment, then it’s ago.
Tweetable Takeaways from this Episode:“Automate literally means linking your business checking account with your personal checking account, and automating a certain amount of money for that goal you have.”-Justin Krane Click To Tweet
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)
Tom Poland: 0:09
Hello everyone, a very warm welcome to another edition of Marketing The Invisible. My name is Tom Poland, joined today by Justin Krane. Justin, good day, very warm welcome. Where are you hanging out, sir?
Justin Krane 0:19
Los Angeles, Tom, great to be here.
Tom Poland: 0:21
Great to have you. Justin and I have known each other off and on for probably a few years now, sort of, we’re in the same online Joint Venture Mastermind group. So, Justin, your credibility and experience and success is nothing short of extraordinary. And you don’t really feature that in your bio, which is why I’ve given you a plug here because you are the first financial planner, I’ve had on one of these interviews, and I’m just delighted you’re here because of your track record. Your multi-million-dollar track record of successes is pretty darn impressive. So, folks, this is the guy who turns away business because he’s wants to be able to help the right people. So, anyone that’s reached that level of success, I believe, has learn something along the way, so, it’s worth listening to. So, without further ado, Justin, your official biography of Certified Financial Planner professional, founder of Krane Financial services, known indeed for his savvy holistic approach to financial planning, advises his clients on how to unite their money with their lives and businesses. Justin, the title today is, “How to Make Smarter Money Moves,” and you’re going to tell us how to do that in just seven minutes. Question number one, our time starts now. Question number one is, who is your ideal client?
Justin Krane: 1:31
So, thank you for having me. It’s great to be here. You were such a giver. And I know I’m using up part of my time, but I got this one nail down. So, I’m going to waste another five seconds. Tom, great to be here. Thanks for having me on.
Tom Poland: 1:41
Justin Krane 1:42
So, my ideal client is a business owner that’s doing a million dollars in sales, has at least $250,000 in profits, has about five employees and has investable assets of roughly a half a million dollars.
Tom Poland: 1:57
That’s pretty focused. Thank you. Six and a half minutes left. Question two, what’s the problem you solve for them?
Justin Krane: 2:02
Financial clarity. If you can’t see what’s going on in your business and with your money, you don’t know you have a problem.
Many people don’t want to look. So, they don’t have clarity. So, we got to get them to get clear and to have a vision that they can actually work towards financial independence. And then all starts with getting clarity. But the question is, how do you do that? What’s the first step? So that’s how I help people. And that’s where I chime in.
Tom Poland: 2:29
So, question two is, well, yeah, what’s the problem you solve, but I just wanted to extrapolate on that a little bit. Because you’ve got this holistic approach to us. Can you tell us what you mean by holistic?
Justin Krane: 2:41
Sure. So, let me ask you this, Tom, if you had all of the money in the world, what would you do with your life, like all the money?
Tom Poland: 2:48
I’d probably follow Bill Gates’s example, actually, and set up a foundation and try to figure out how to solve some of the biggest problems in the world.
Justin Krane: 2:55
Exactly. So, the thing that we need to decide on from a holistic standpoint is we need to merge our money with our life. We need to identify and decide what are our real true-life goals, and how can we work towards trying to achieve them today. Not when we’re 92, with $42 billion, but today. So, from a holistic standpoint, it’s working with other service providers and professionals. Everyone is basically in there working with my client to help them get clear on what they need to do, to work towards that goal and ultimately to get it. So, it’s like you got to get clear on what you want, and then you got to get a plan to go and try to figure out how to get it.
Thank you. And so, question three, four minutes 45 seconds left. What are some of the typical symptoms, tell us what someone’s going to be experiencing prior to working with you? What are some of the signs that they need your services?
Justin Krane: 3:49
So, from a business owners’ perspective, they are guessing with money, they’re guessing and making decisions. So that’s one of the symptoms.
Tom Poland: 3:55
Oh my god, that’s so true. Yep.
Justin Krane: 3:57
The other one is, they don’t know how profitable or unprofitable they are. Another symptom is they can’t quite get their arms around managing cash flow, and they don’t really know where all of the money is going. It’s just like it’s gone.
Tom Poland: 4:15
Amen, amen. Amen. Question number four, you’re going to have business owners who are, you know, reasonably successful in terms of revenue growth, data delivery, etc., but their financial area is very murky. And they’re going to realize that they’re going to try stuff and they can try some things that just flat out don’t work. So, what are some of the mistakes that people will make before they find, discover your services?
Justin Krane: 4:37
Well, I’m going to give you the mistakes that I made, because I believe that like everyone makes mistakes. I am not like the guru that has never made a mistake before. So, number one, is you’re not automating your finances.
You’re not pulling out a certain amount from your business to save and invest for your personal future.
Or that could mean paying down debt or paying your mortgage down or college or retirement, but we’re not automating things. So that’s the first thing. The second thing is, we all know that we have to pay ourselves first and that we have to like, somehow make sure that we’re running a profitable business. So, what I believe is every business owner should just peel off a certain amount of their sales and call that profits. People call it profits first, people call it paying yourself first, whatever it is, I didn’t do that, then I started doing it. Then I started getting more intentional with my money. And I was like, “Okay, great, I put my profits aside, now I know how much I have left.” And I’m making, I can make decisions based on how much money I have. Not how much money I think I have.
Tom Poland: 5:35
Perfect. Thank you. Two and a half minutes left. Question number five, what’s one valuable free action someone could take? It’s not going to solve the whole problem but it’s going to take them a step in the right direction.
Justin Krane: 5:45
Automation, like literally that means linking like your business checking account with your personal checking account, and automating a certain amount of money for that goal you have. It could be taxes, it could be paying down debt, it could be for retirement, whatever, but you have to automate it, which removes the emotions of making decisions that aren’t really right for you.
Tom Poland: 6:06
Right. Perfect. Thank you. So simple and yet so effective. So, question number six, two minutes left, one valuable free resource that we can direct people to that’s going to help them even more.
Justin Krane: 6:16
Yeah. So, on my site, I’ve got a free report called three things that millionaires do with their money to help them grow and achieve their wealth. I’m talking about what they’re doing once they’ve already become a millionaire. So that’s Krane financial solutions, with a K, kranefinancialsolutions.com/3things. In there are three simple steps, some of which I’ve actually given you, but it’s more of a how to.
Tom Poland: 6:43
Perfect. So, Krane, with a K, financial solutions dot com forward slash 3, number three, things. Thank you, sir. And so, we’ve got, wow, 75 seconds left. Question number seven, what’s the one question that I didn’t ask you but that I should have?
Justin Krane: 6:59
I think it’s about, how do business owners decide whether the investment they’re making is smart or a waste of money? Like how do we prevent business owners from throwing money away? And my answer is, if you think you can make a three times rate of return on your investment, then it’s ago. So, let’s say it’s 10 grand, you think you could make 30 grand on it. And if you’re a new business owner, that money needs to come back really quick within like a month. If you’re more of a seasoned business owner, that could be six months. So, you want to go to a trade show, the cost of a flight, a hotel food, whatever, like 7000 bucks. Well, can you make 21 off it? If you can’t? It’s probably not worth it.
Tom Poland: 7:39
Perfect. Justin Krane, sir, thank you so much for your time.
Justin Krane: 7:42
Tom Poland: 7:43
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