Episode Summary
In this episode, find out why defining your niche may be the key to your success.
Today’s episode features Craig Goldslager, financial advisor and founder of Utterly Financial in West Palm Beach Florida.
Craig created Utterly Financial to help Speech Language Pathologists and Private Practice Owners plan for an exceptional retirement. He is a proud graduate of the University of Miami Herbert Business School. In addition, he received a Master of Business Administration from Nova Southeastern University. He also holds the Certified Exit Planner™ designation. Indeed, the CExP is a demonstration of Craig’s commitment to helping private practice owners strategize the ideal departure from their businesses on their terms.
However, what’s unique about Craig is how he decided to niche down and target a very specific client base–even if it meant saying no to new business. Yet by doing so, he’s able to market his business more effectively. Not to mention, attract clients that he truly enjoys working with.
In this episode, Craig and I discuss the role he plays as an exit planner and how this expertise helps his clients better plan for retirement. Moreover, Craig shares why he chose to focus his practice on speech language pathologists. He also explains why working with such a specific client base allows him to continually improve the services he provides.
Meanwhile, we talk about the steps involved in the exit planning process. For example, how to find out what your business is worth, what you can do to make your business more valuable, and the potential tax implications of exiting your business. Additionally, Craig shares why estate planning is essential for small business owners.
Defining Your Niche with Craig Goldslager
Lastly, be sure to listen to the end. Here, Craig offers his best advice for business owners who plan to use their business to fund their retirement.
So whether you’re a speech language pathologist or other private practice owner, you’re sure to take some helpful information away from my conversation with Craig. With that, I hope you enjoy this episode of The Retiring Entrepreneur Podcast with Craig Goldslager.
Episode Highlights
- [06:58] Craig Goldslager shares why he chose to target and work with such a specific niche (SLPs)--and why he believes defining your niche is the key to success.
- [11:27] How Craig Goldslager works with new clients who want to begin the exit planning process.
- [13:22] The three questions Craig says are 70-80% of the work of exit planning.
- [16:02] Craig shares some of the advantages and disadvantages of various business exit strategies.
- [19:46] Craig explains the best ways a business owner can determine how much their business is worth and boost its value before selling.
- [29:28] The potential tax implications of selling your business, and what business owners need to consider when developing their exit plan.
- [33:05] Brett and Craig Goldslager discuss the importance of having an estate plan as a business owner.
- [37:42] Craig offers his best advice for business owners planning for retirement.
Enjoy the Episode!
