If You Don't Have These 7 People, You Don't Have a Real Business
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You can have a great business and still be the bottleneck, the liability, and the target all at once. Tim and Mark break down the 7 people you need on the business side of your life: the ones keeping your books tight, your taxes low, your assets protected, and your deals moving.
Last week was the personal side. This week Tim and Mark get into the seven people you need running your business — the ones who keep money from slipping through the cracks, protect what you've built, and open doors you didn't even know existed.
This is the stuff that separates a real business from a job disguised as one. If the people you're taking advice from don't have these people on their team, that's your answer right there.
In this episode:
- Controller vs. CFO — why you need financial oversight that goes way beyond what's in the bank account (and how Mark's controller tracked down a $29,000 check he'd completely forgotten about)
- The case for an in-house attorney: Tim's lawyer found a single word in a Fannie Mae loan doc and knocked $1.8 million off a prepayment penalty — more than 12 years of salary in one deal
- Tax advisors vs. CPAs — why your CPA is technically working for the government, not you, and what it actually costs you not to have a real tax strategist in your corner
- Insurance: the story of Tim's apartment building that burned to the ground and a policy that capped out at $10,000 when it should have paid out $3 million
- Private banker — the most underrated relationship on this list and why Mark and Tim both swear by it
- Social media, marketing, and PR: why Tim closed a $500K investment from someone he'd never spoken to, just because they'd been watching him online for eight years
- Real estate connections — how Tim's mortgage guy helped him turn a $30M exit into a potential $38M one with a single phone call
If you got something out of this episode, subscribe so you don't miss the next one and drop a comment below. We love hearing from you! Follow Tim at @timbratz and Mark at @markevansdm for more. See you next week.
0:00 Intro
1:57 Controller/CFO
13:25 Attorney
25:39 Tax Advisor
36:15 Insurance Agent
48:09 Private Banker
48:18 Marketing/PR Person
55:32 Real Estate Expert