S2EP11 How To Sell A Family Business – An Inspiring Businesswoman Diane Seder’s Story

 Diane Seder has had a very inspiring career. She joined the valves manufacturing family business “Milwaukee Valve” against all advice back in the late ’70s when the industry was “not suitable for women”, and worked her way up from the very bottom. We invited Diane to mainly talk about the sale of this multigenerational family business. Diane was clear about two key points: plan your selling strategy long before you are ready to sell, and communication within the rest of the family is critical. Tim asked about what one should consider when planning to sell the business. Diane recommended the following: check the company’s legal structure, review all owners’ trusts, set up a functional voting system long before selling, and go over the succession plan and tax consequences with professionals. She then stressed that it’s vital to think ahead, hire the right professionals, and most importantly, to have constant communication. Like Diane said, for a family business, what’s good for the business is what’s good for the family, and one should never forget that.

S2EP10 Eat, Donate, & Love – A Chat With Betsy Hughes

 We are honored to present this episode with Betsy Hughes. Betsy has spent her entire career, nearly 40 years, as a student of philanthropy. Just in the last 20 years, she has raised more than $500M—for universities, museums, and human services organizations. Nathaniel started the conversation by asking in the U.S., who’s your typical major donor, and where does their money go? Without any surprises, religious groups are the number one charitable recipients. Betsy then respectfully debunked the myth that most NPOs spend too much money on administrative operations. She further explained that “passion” is the biggest reason people donate, so it’s important for you to vet the organization by understanding its mission and trusting them to utilize your donation. Volunteering may be a good way to start. We then discussed how the face of philanthropy has changed, especially during COVID-19. Betsy is excited to see much more involvement from women, people of color, and the younger generation. As Betsy said, over 70% of donations come from small individuals, and every bit counts! We highly courage you to start today if you can, whether to improve your own community or to help a cause that you believe in! Thank you!

S2EP 9 Cybersecurity: How To Protect Your Data In This Matrix World – A Chat With Will Robus

In this episode, we invited Will Robus to speak with us about cybersecurity. Will is the CEO of Outpost Security, a company that provides a revolutionary approach to managing cyber threats. We kickoff the podcast by asking Will to give us a broad picture of the cybersecurity space, and why it’s not talked about that much. Will explained the two sides of the industry: public-facing security to protect private information (i.e.: Target breach 2013), and business data protection. Will talked about the dilemma the industry is facing: if one doesn’t invest in cybersecurity, the business is obviously in danger of potential breach; but if one is protected too well, they ask themselves: “Why am I spending so much money on this? Nothing has ever happened to me!” Tim asked about Will’s thoughts on quantum internet, and we discussed what information decentralization means to the industry: Will believes that no matter how advanced the technology, as long as there’s a human element to it, mistakes will always be made. Overall, data is the new gold, and since our daily life, business and even government operations rely on data more than ever, cybersecurity is not a preference, but a necessity.


S2EP8 Fantastic Credit Cards And Where To Find Them

If you want to learn about how to increase your credit score and what credit cards to get, don’t miss this episode! Dan started the video by talking about the 5 key elements of building your credit score: paying your bills on time and in full, capacity, credit history, new credit, and credit mix. It’s always a good idea to establish your credit history as early as possible. Dan then debunked some myths about credit scores and taught us how to track them. Nathaniel is the main “credit card” man in the house. He talked about things that one should consider when getting the right credit cards. The most important thing, in Nathaniel’s opinion, is “to find the cards that fit your spending, do not fit your spending to the cards that you want!” He also discussed how “cash rewards” and “points” work differently according to your lifestyle and spending habits. If you are a credit card nerd like us, you will love this episode!

S2EP7 Real Estate Investment Is A Full-Time Job – A Chat With Tony Bickmore

Our most popular guest Tony Bickmore is back! In this episode, we discussed one of the all-time favorite topics: real estate investment. Tim first asked about house flipping, and Tony cautioned our audience not to try to outsmart the numbers. He explained his real estate investment framework: for short-term investments, it’s about being in touch with the neighborhoods, understanding their value, and getting in the market at the right time. And for long-term investments, the volume is everything. Tony agreed with Dan: real estate investing is a full-time job, and it only makes sense for part-timers if: a.) you can do the fixing and maintenance yourself, or have a big enough portfolio to hire a team, and b.) have a steady funding source that won’t affect your daily life. To sum it up, HGTV is meant for entertainment, not real estate investment advice!

If you have a project near Salt Lake City, UT area, please contact Tony at http://www.bickmoreconstruction.com/

S2EP6 GameStop’s Maniacal Rise – Social Media’s Role In The Investing World

In this episode, we discussed the recent “King of Performance” GameStop’s maniacal rise and social media’s role in the new investing world. After briefly explaining what happened to GameStop’s stock price, Nathaniel pointed out that the stock price is nowhere close to what the dying company is actually worth, and it will not last in the long term. Dan revealed a different side of the story: GameStop has been trying to sell itself for years. But they couldn’t find a buyer when it was trading for $3 per share, and they certainly will not get a buyer for $300 per share now. These retail traders that consider themselves “heroes that help the company by bidding the price up” are actually hurting the company: the employees and other shareholders. Nathaniel also added, as much as you may dislike capitalism and short sellers, just like a forest fire, they exist for a reason: they clean the dying companies out of the market so that new startups can have the space to grow and thrive. Tim expressed his frustration with social media’s role in this sh*tshow. People who brag about their gains on social media “oh I put $10k in, and made more than $2m!”, but never disclose that they may be millionaires to begin with, and that that $10k investment is merely 0.5% of their total portfolio. People who are late to the party and put their entire net worth into it are most likely the ones who will suffer the downfall and lose everything. As always, be rational and realistic. If you want to invest for the long run, research the company’s fundamentals; if you want to gamble and make (or lose) some quick money, don’t put in every penny you have!

S2EP5 How To Create The Right Mindset For Success – A Chat With Brian Levenson

In this episode, we invited one of Dan’s friends Brian Levenson to talk about his new book: Shift Your Mind: 9 Mental Shifts to Thrive in Preparation and Performance. Brian works with major athletes in the NBA, NHL, and MLS as well as business executives. After briefly introducing how Brian got into his executive and mental performance coaching business, we discussed the concept of achieving greatness by shifting from a preparation mindset to a performance mindset. Brian mentioned that one of the most important steps is to create self-awareness. Understand who you are so that you can decide where you want to go. To answer Nathaniel’s question, throughout the journey of creating the right mindset, being present is the most difficult step, and thinking about the future is the most misunderstood one. Brian stressed the importance of “turning it off and resting” and have the “how much money is enough for me?” conversation with oneself. As Dan pointed out, “time” and “money” are two of the most misunderstood topics that we don’t discuss openly and honestly enough.

S2EP4 The Reality Of Remodeling – A Chat With Tony Bickmore

This is a fun episode.  We invited Tony Bickmore, the owner of Bickmore Construction, to join us and talk about remodeling/building your primary home.  After Tony briefly introduced how he got into the business, Dan asked where people should start in terms of remodeling and building.  Tony’s answer was very straightforward: have a realistic budget.  Know what’s important to you, and understand the difference between “What is my budget?” and “What should my budget be?” are keys to a smooth process.  Nathaniel asked what the one most important thing for clients to be aware of during this process.  Tony thought that understanding the true scope of the entire project is crucial.  So many of our clients ask us: is my primary home a good investment? You have to remember that asset ≠ investment.  A house is not a bad asset but in no way a liquid investment.  Tony summarizes it so well: the house is usually a person’s biggest asset, so it shouldn’t be an emotional decision; and yet, when it comes to doing anything with one’s home, for most people, it is 100% emotional.

If you have a project in the Utah area, please contact Tony at http://www.bickmoreconstruction.com/!

S2EP3 IPOs, Airbnb, Tesla, and Bitcoin – Quarterly “Trendy Talk”

Here we go again, this is our quarterly “Trendy Talk” episode for 2020’s 4th quarter. In this episode, we talked about IPOs, why do companies try to do IPOs, how are the prices determined (the truth might shock you), and what happened with Airbnb’s IPO. Tesla is one of the companies that we get questions about almost daily. Do you know that most of Tesla’s profit doesn’t come from selling its own products, but from selling the tax credits of being a “green company” to other big auto companies? Do you know that Tesla is selling at a multiple of 420 times free cash flow – not an ideal buyable price after all? As for Bitcoin, another insanely popular topic, as Tim said, if you want to invest 1% of your money and have some fun, by all means. But if you want to gamble your entire assets on it… well, don’t! We remember how popular marijuana was in 2019, but no one ever asks us about it anymore. You know what, trendiness passes, only value remains!

S2EP2 Space: The Final Frontier – A Chat With Rick Tumlinson

This episode is all about one of the most fascinating topics: space. Our guest is Rick Tumlinson, the co-founder of several space companies and non-profits, and one of the most influential people in the space industry. Rick kicked off the episode by talking about the book The High Frontier and how it inspired him to get into the industry. He then gave us a rundown of the space industry from a business lens. Tim followed up by asking how the space industry was funded. It was absolutely interesting to hear Rick speak about private vs government and China vs the U.S. in this new “space competition.” We were intrigued by Rick’s description of what a settlement could be like in space, and where he predicted those places may be. Nathaniel asked Rick’s opinion on what Elon Musk’s and Jeff Bezo’s passion for space could mean for Telsa and Amazon, respectively. Rick’s closing speech was powerful: to bring lives to dead space, to redesign our civilization and culture in a new era, that’s our job, and that’s where our future lies.

S2EP1 Rocking The Music Industry – A Chat With Drew Brown From OneRepublic

For the very first episode of 2021, we open our show with Drew Brown, the rhythm guitarist of the pop-rock band OneRepublic. We kicked off the podcast by asking what got Drew into music, what artists inspired him, what his favorite concert was, and what his shower/carpool song pick is (cue the “Beauty & the Beast” theme song plz!). Drew revealed that he almost joined a metal band, and as Nathaniel pointed out, that would not only have changed his career but his entire life because he would never have met his wife. Tim and Nathaniel explored with Drew his feeling towards the music industry, and how it has changed for better and worse. Drew talked about how he finds creativity not just in music, but also in business. He further discussed his opinion on streaming in the music business. As for COVID, Drew expressed his worries about young artists being unable to start their careers due to the lack of live performance opportunities. We were all very impressed by Drew’s commitment and vision. As Dan said, never underestimate the power of passion!

Not Just Another Nerd – An Interview With Nathaniel Leach

This is our “Get To Know LBW” mini-series where we interview each of our team members so that you will get to know us better. Our third interviewee is our Portfolio Manager Nathaniel Leach. He explained that despite what some people may think, he’s not a robot. He talked about how he explored many different subjects before landing on his history degree, and how that greatly influenced and helped his current job as our Portfolio Manager. He went in-depth talking about his reasons and feelings for joining the U.S. Marine Corps, and what he has learned from it. Dan and Tim asked Nathaniel about his greatest joy in life, his views on leadership, favorite place, game, food, etc. As Dan stated, most of our clients don’t know Nathaniel as well as the rest of the team because his job requires him to read and research rather than to talk and socialize. We hope this episode helps you understand Nathaniel better and see the caring, loving, and passionate person that we proudly call “friend!”

Wicked Smart Since 1982 – An Interview With Dan Weiss

This is our “Get To Know LBW” mini-series where we interview each of our team members so that you will know us better. Our second interviewee is the Director of Client Relations, Dan Weiss. We talked about his childhood, his education, and his minor (well, not so minor) obsession with geography and maps. He explained why he co-founded LBW Wealth, and what pushes and encourages him in life. Dan shared with us why community involvement and giving back to charity are so important to him personally. And of course, the interview isn’t complete without an embarrassing life story!