Garrett Gunderson. He’s the chief wealth architect at Wealth Factory and author of the New York Times’ bestseller, 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 sector—their business.

Famous Five:

Favorite Book? – Scaling Up and The War of Art
What CEO do you follow? – Rich Christiansen
Favorite online tool? — OmniFocus
How many hours of sleep do you get?— 6
If you could let your 20-year old self, know one thing, what would it be? – “It will be okay and I don’t mean to stress as much as I did”

Time Stamped Show Notes:

01:40 – Nathan introduces Garrett to the show
02:10 – It took Garrett two years of contemplating before writing Killing Sacred Cows
- 03:26 – Garrett worked with a publisher and the promotion firm Green Leaf
- 04:30 – Garrett is earning higher royalties for his book deal than the usual
- 05:00 – The possibility for bigger redistribution impacted the book deal
- 05:35 – Garrett was able to sell copies of the book even before it came out
- 06:10 – Garrett decided to have a publisher because it was more relevant than to self-publish
- 07:10 – Garrett self-published The Rockefellers last year
- 08:22 – Garrett co-published New Rules to Get Rich with Nightingale
- 08:45 – Garrett has self-published a few books which are more profitable than the one he made with the publisher
09:30 – Just because you’re starting a business doesn’t mean you know about investing
10:00 – For investing, investor DNA needs to be considered
- 10:04 – The core values, drivers and diversification
10:43 – There’s no magic product or magic investment
11:40 – Nathan shares how he deals with his real estate investments
12:10 – People think they need to invest because the money is there
12:40 – It is more important to invest in the RIGHT opportunity and something that we KNOW
13:50 – There are good, bad and lucky investors—but don’t rely on luck
14:37 – In terms of taxes:
- 14:42 – Never confuse deferral with deductions
- 16:00 – Garrett shares his stance on deferrals
- 16:54 – Tax should be a secondary consideration
18:00 – Garrett shares how he makes money
- 18:14 – Garrett works with entrepreneurs with $1-10M in ARR
19:10 – Garrett doesn’t offer asset management, they’re more on financial and cash flow management side
19:40 – Garrett’s co-founder passed away in 2006 from a plane crash
20:20 – Wealth Factory’s income is steady and they’ve raised their fees substantially
- 21:20 – “We’re the very best people”
21:31 – 2017 revenue goal
22:27 – Wealth Factory has 10 new customers monthly
22:37 – Team size is 20
24:04 – The Famous Five

3 Key Points:

Investing and starting a business are two very different things.
Deferrals are different than deductions.
Billionaires don’t have the best financial advice.

Resources Mentioned:

Simplero – The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio – Track your business performance across all departments for FREE
Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives

831: You Have $10k, Should You Defer or Deduct?

SaaS Interviews with CEOs, Startups, Founders