Business
On this episode Gavin is joined by financial advisor, Shaun Holt to share advice on legacy, growing wealth and what you can do as your business recovers after the pandemic. Shaun is passionate about wealth management and sees it as the most important thing for families to prosper over time, increasing generational wealth. This means planning for the future by getting good financial advice around your business and personal wealth and setting up a solid financial plan in place so that you can enjoy the fruits of your work as well as leaving substantial wealth aside for your family. KEY TAKEAWAYS Children need to be taught about financial planning; money is important but it’s more important to teach people how to treat it properly. Good wealth management will allow you to manage your life so that you can enjoy your hobbies, family time and health as well as allowing you to pass it down to provide for your children. You’ll see traits in families if you look at what each generation before did as a job. If a grandparent was in hard working job, the parent will likely be hard working and so will the children. Money should enhance peoples lives, going on a spending spree buying Range Rovers and holidays and blowing your cash might be a great experience. But, down the line they’ll be worse off emotionally because the money will run out. We can pass down knowledge and wisdom, both the successes and the failures because you learn more from failure. For example, learning about tax – especially around death. Finance is the easy bit, time is the hard bit, so put a good financial plan in place. When selling a business, make sure you point out the potential growth strategy to the prospective next owner, so they’re more interested in buying it before it’s peaked. You wouldn’t want to but something that’s run its course, you want to make money out of your investment. BEST MOMENTS ‘Tax is a contribution, you may not be able to decide how its spent, but it contributes to society.’ ‘Leave the world in a better place than you found it for those that follow you.’ ‘Hand down money in a better way than just giving money.’ ‘There are inspirational young people, but the last thing they need is their desire taken away from them by being given money so they don’t need anything.’ ‘How do you want to be remembered?’ ‘If your business can run without you, it’s a lot more saleable than if you’re still involved in the day-to-day.’ VALUABLE RESOURCES The Business Mastermind Podcast To get 20% off at Knowable, go to www.knowable.fyi and enter the code GAVIN Get your copy of Survive And Thrive NOW at https://www.surviveandthrive.cc Keep Your Boat Afloat – https://survivetothrive.biz/keep-afloat gavin@gavinpreston.com GUEST RESOURCES LinkedIn: https://www.linkedin.com/company/bushell-holt-wealth-management/ Bushell Holt Wealth Management: https://bhwml.co.uk/ E-mail: Shaun.holt@sjpp.co.uk ABOUT THE HOST Gavin Preston Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating the creative strategies to accelerate growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue chip corporates over the last 20 years. Gavin’s energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change. CONTACT METHODS Website: www.gavinpreston.com LinkedIn: https://www.linkedin.com/in/gavinpreston/ YouTube: https://www.youtube.com/user/gavinpreston1 Facebook: https://www.facebook.com/GavinPrestonGrowthStrategies/ Twitter: @gavinpreston See omnystudio.com/listener for privacy information.