Wayne’s website:  https://www.waynebtitus3.com

AMDG Financial: https://www.amdgservices.com

Books:

 The Entrepreneur’s Guide to Financial Well-Being on Amazon 

Being Mortal, by Atul Gawande

The Checklist Manifesto, by Atul Gawande

Scaling Up, by Verne Harnish

Traction, by Gino Wickman

Crucial Conversations, by Kerry Patterson, Joseph Grenny, Ron McMillan, Al Switzler

Crucial Accountability, by Patterson et al

 Show notes:

Wayne comes from an entrepreneurial family, he helped out with his father’s business and his passion for entrepreneurship started at a young age. 

Became an Accountant (CPA), then started his own advising firm in 2002. 

Wayne talks about why entrepreneurs need to understand the finances on a basic level, if not, then they need to seek out that support for the financial area of their business

We talk about holistic planning and why it is important within a business. 

Wayne and I discuss if there is a need to a have a business partner who has a background in finance. 

What should be the structure of a financial department within startups?

We discuss the flaws that startups face when it comes to their financial area of their business.

What is your job scorecard? Do they want it? Do they get it? Do they have the capacity to do it?

Companies need to understand their processes before outsourcing. 

Wayne discusses the three main categories of advisors:

1. Paternal Advisor
2. Informative Advisor
3. Interpretive Advisor

We talk about why the Interpretive advisor is the ideal type of advisor for a business

Wayne gives an example of how a company using an advisor that needed to have an interpretive advisor to really help them grow their business.

Companies need to ensure that they understand their taxes because there are possibilities to reduce taxes by using an interpretive advisor who really wants to help the business. 

 Don Trone - Father of Fiduciary - 3Ethos: http://3ethos.com

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