Justin A. Goodbread, CFP®, CEPA®, CVGA®, owner of Heritage Investors and Heritage Business Advisors, and owner of FinanciallySimple.com, is a nationally recognized financial planner, financial educator, wealth manager, author, speaker, and entrepreneur. Armed with 20+ years of experience starting, buying, selling, and owning businesses, Justin spends most of his time helping fellow business owners across the country increase and manage the value of their businesses and personal assets so that they can live the life of their dreams now and in the future.
An avid outdoorsman from Brunswick, Georgia, Justin started his first business, a landscaping business, at the age of 15 and operated it while he earned a degree in horticulture from Abraham Baldwin Agricultural College. After meeting and marrying the love of his life, Justin sold his business for profit and moved to Knoxville, Tennessee. The direction of his career changed when a friend recruited him into the world of finance, and Justin has never looked back.
Justin earned a business degree and worked in a large wealth management firm for many years, but in 2009, Justin and a business partner ventured out on their own to open Heritage Investors, a boutique-style wealth management and financial planning company in West Knoxville. As he gained more and more experience in the world of business and financial planning, Justin found that he had a talent for helping small business owners and for breaking complex financial concepts into financially simple terms. He discovered a passion for helping to lift others up. Realizing his true calling led him to earn Certified Exit Planning Advisor and Certified Value Growth Advisor designations.
In 2016, Justin launched the Financially Simple enterprise – a financial blog, podcast, and video education portal – to make finances simple for small business owners. Through Financially Simple, Justin uses his skills to guide business owners through personal finance, retirement planning, tax considerations, business value growth, sales, mergers, and buy-outs, preparing them for the next chapters of their lives. His work in Financially Simple has catapulted Justin into the national press, where he has contributed to publications such as Kiplinger, Forbes, and Investopedia. Likewise, his name appears in many national media venues and in a litany of written publications. Justin is a regular speaker at national conventions, trade associations, business events, and seminars around the nation.
Where did the idea for Heritage Investors come from?
My wife, believe it or not, helped me come up with the idea for Heritage Investors. We looked at the idea that often people and business owners want to create a legacy, but we wanted the name to have biblical context as well. In the bible it talks about having a goodly heritage, so that was the first part.
We decided on investors because, for someone to leave a lasting heritage, they have to be intentional about investing in that heritage money, time, or tactical movements before they are no longer around. So that is why we came to settle on the name Heritage Investors.
What does your typical day look like and how do you make it productive?
My day varies throughout the week; I devote part of my week to creating educational content for Financially Simple in the form of podcasts, Youtube videos, blogs, etc. to share tips and tricks I’ve learned throughout my 20+ years in the entrepreneur world. So I devote time to content that teaches business owners how to better approach the tough topics in business.
The other half of my week is devoted to my team and our clients and Heritage Investors, LLC and Heritage Business Advisors. Our office is in Knoxville, Tennessee but we service clients all over the US. It is a blast to get to partner with business owners in so many different fields to evaluate, and implement strategies to grow the business, or change the personal financial path of the business owner.
Our company is unique in that we partner the personal financial planning and business planning to holistically help the business owner be set up for future growth and success.
I am only able to stay on schedule and productive because of my rockstar team. I let them tell me where I need to be and what to focus on and they do an amazing job of keeping my days productive.
How do you bring ideas to life?
I read a lot. This is something that is so important to how I am productive. I am constantly learning, reading, and re-reading books. Even our team has an ongoing focus on professionally developing through education and reading. The habit of always being in a space to learn has made me productive as an entrepreneur because I continue to seek what is a better way to accomplish the goal we have in front of us.
What’s one trend that excites you?
I am excited that people are investing more in their business education, more so than ever. The fact that business owners and investors are willing to do more research instead of only listening to the “man” or the media is exciting.
What is one habit of yours that makes you more productive as an entrepreneur?
I am a verbal processor – and so when I am reading and thinking, I do most of it out loud. My team members are an essential part of the brainstorm as we are all sharing creative ideas, the team collectively decides if the idea is right for the goal we are trying to achieve. This discernment allows us to move on to determining who on our team is the best resource to help bring it to life and then they do just that.
What advice would you give your younger self?
I’ve been asked that so many times, and I still come back to the same answer- dream bigger. Life is like a muscle and the more you use it, the more you stretch it, the more it will grow and be able to support so I would tell myself to dream way bigger.
Tell us something that’s true that almost nobody agrees with you on.
Pineapple on pizza is absolutely wrong.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I truly believe it has been the constant planning that has gone on in my life. If everyone can take a breath, take a step back, and evaluate and plan- that is something invaluable. I truly believe the idea of the quote “failure to plan is planning for failure”. Planning is integral in business.
What is one strategy that has helped you grow your business?
Building a dominant team is the most influential strategy to grow your business. In my book, The Ultimate Sale, I discuss the 8 key areas of business and these are the areas that can work to drive the value of your business. Your team is one of those areas and I truly believe the stronger the team, the stronger the business.
What is one failure you had as an entrepreneur, and how did you overcome it?
Failures are what teach you, and so I would say more than overcoming a failure, I have learned and grown tremendously from failing. I have learned that when I fail, it is about being able to learn from it, dust yourself off, and move forward- never looking back at that failure. If it is a minor or major failure, it is about never letting that stop you from continuing to push on towards your goals and dreams.
What is one business idea that you’re willing to give away to our readers?
I am so convinced that we should have a way to develop cars that have solar panels on the roof and wind turbines on the sides and the car has completely self-generated power. That is a business idea that I have thought about for years.
What is the best $100 you recently spent? What and why?
In the last month, I have bought about 10 books for right at $100. I gathered greater value and the return on that investment is unmatched on anything else I have ever done.
What is one piece of software or a web service that helps you be productive?
Zoom has been instrumental in our business. It allows us to work remotely, hold meetings with clients all over the country, and instead of only being able to communicate verbally through a phone system. Zoom has allowed us to read facial expressions and body language in meeting to better communicate our message to whomever we are in a meeting with. That has made our office so productive.
What is the one book that you recommend our community should read and why?
Michael Gerber’s The E- Myth is one that, not only I have read several times now but my team members have read. The book is an exploration of what it’s like to struggle with business ownership, but also how to best communicate with your team. It is a favorite of mine.
What is your favorite quote?
There are so many quotes I love, I just can’t pick a favorite.
- Create a rockstar team to support your ideas, bring them to life, and build a stronger business.
- Invest in your continued learning, through reading, podcasts, other information
- Don’t be afraid to learn from a failure and keep working towards your goals.
- Dream way bigger than you are right now.