Sean Moran

welcome to legacy cast your source for
hearing from top enforcers in DC of
experts in successful business owners
who are telling their unique story about
life values goals business strategies
and the various causes they’re so
passionate about
future generations will come to be
impacted by what is happening today
whether positive or negative and our
mission is to focus on what is going to
effect change for the band posted each
weekday by James snow a former US Army
Combat Medic now founder and principal
adviser of James advisors group the full
service financial planning firm in North
Texas, this is legacy cast

welcome the program legacy cast listeners,
this your host James snow
welcoming to the program and we have a
guest with us today Shaun Moran who I’ve
just been speaking to a little bit
before going live here and you know
there’s a few things that that I thought
were pretty interesting that well what
to touch on during the program Shaun
being an author and also just podcasting
as well and so there’s something that
yeah definitely is it’s very useful for
for the people that are out there in the
world you know as as of course you’re
listening to a podcast here and and he
also has some financial insights that I
think it’s going to be very relevant for
us because you know like the program
here is about as it would imply we talk
about legacies that it’s a way that you
can tell your story your way so the next
generations behind us we’re gonna
understand you know what mattered to you
what what things you’re involved in the
people that you’re influenced and and
what you did to make a difference and
that could be both a financial one that
can be educational or something you’re
doing in society maybe a volunteering
for different nonprofits what have you
and so without further ado I’d like to
welcome Sean into our program welcome to
the program well thanks so much I
greatly appreciate you having so Sonya
if you can tell you a little bit uh tell
us a little bit about your your business
background so then kind of have an idea
of you know what we’re bringing you in
then sure yeah so I have about 15 years
of corporate international tax
experience everything from the big four
to fortune 500 companies and about four
and a half years ago I went into the
follow the Entrepreneurship area and
delved into buying a wireless known
Verizon store franchise so you know
everything from taxes and Finance to
entrepreneurship my background and it’s
a really a powerful angle that that
you’re coming at you know it’s obviously
one that’s different than I do because I
don’t I always say away from the tax
advice and legal advice but that
actually is a pretty useful one because
that that starts flow
in two entities and the reason for doing
entity structures in certain ways is
when you start thinking about you know
the text abilities and you know how how
someone is going to create their their
corporate structure would that be
correct absolutely and I think big part
of what you know the corporations really
look to do is you know tax minimization
and it was a big part of what a lot of
the planning that we did you know most
individuals you know you go you work do
your thing and at the end of the year
end the year finishes and you know
somewhere between February and April you
go to accountants or whoever and you put
information in and see what you get back
that’s very reactive but corporations
and business is essentially tax plan and
say well what’s the best entity type
that we had we can you know create as
well as you know what are places that we
can do business and what are structures
as you were saying to you know basically
you know minimize the amount of tax that
we owe and you know that can be a
significant number and it can add a lot
of them a lot of money to the bottom
line I could do it correctly for sure
and yeah a lot of our listeners here are
going to be either business owners you
know entrepreneurial individuals and so
that becomes very relevant for the
people listening to the program is for
those that have not already you know set
up their their particular entity
structure you know different things that
you work with are going to be very
interesting instrumental and making that
final decision deciding you know do they
want to go LLC or an S corp or pass
through or what have you you know some
of the technical terms there but you
know different different decisions that
they would want to make that it’s going
to impact really the long term effect of
their business and what what their
business is going to look like
absolutely so when you sooner are
thinking about legacy as a whole just
kind of the the overall overall
encompassing subject what’s the first
thing cuz of your mind though we’re sort
of thinking about that
sure the many legacy means really you
know what are you leaving for the next
generation or for other people right so
you know we all have a finite amount of
time on planet earth here and you know
most of us probably go through life and
then come out you know at the end and
look back you know a proverbial for
verbal saying of you know nobody is on
their deathbed looks back and says I
will spend more time in the office kind
of thing but for know what are we doing
to make an impact on somebody else’s
life that can you know even if it’s very
insignificant you’re mine what can I do
on a day-to-day basis to make other
people happy or better push them in the
right direction but also what else could
I do you know within our children within
you know charity work or so on to you
know leave a mark so that some way shape
or form you know the world’s a better
place than when you entered it and and
that’s a fairly fairly common answer
that here from from people as far as you
know how they’re kind of looking at that
because it’s not it doesn’t just mean
you know a financial and it’s it’s
really how are you making that mark you
know what are you doing that’s touching
people that’s you know leaving more of
an impression in that in that manner as
opposed to just the the dollars and
cents at the end of the day because you
know you know money is fleeting yet you
know lessons are very more enduring so
it’s you know what what lessons are we
passing on and what experiences already
are we having with people that really
could be even more relaxed see in many
cases how did your views on legacy
though affect what you’re doing from a
business standpoint yeah I would say I
kind of looked at my life store as
essentially being something that I could
leave to my children right so that might
be something again it might name work
but something else but to me more than
necessarily just you know hey here’s a
business and you can
the next generation it’s the values that
he keep you know your children within
that as well as the values I can pass on
to my employees so my children are young
the oldest one six but four and a half
years ago when we opened the door he
went with me in the car to be there the
first day and you know he since then you
know he goes everyone’s a lot with me I
haven’t sweep the floor you know do
something you know play with the
inventory done and you know just make my
children feel like work is valuable you
know and kind of teaching that to them
and also sharing you know for what my
employees not just here’s your job
you’re a salesperson but let me show you
the back end of the business so that if
one day you become a business owner
you’ll have a little bit more than
somebody else that worked at another
company where that wasn’t shared with
them yeah and those are important
aspects to to involve in it and yeah
because yeah ultimately when we start
businesses especially those that they
have children that that oftentimes is
what the the business owner is thinking
that you know maybe someday about my
kids will take over and they won’t take
over the reins when when I decide to
step away is that something you’ve
actively considered also on the flip
side of that maybe your children decide
not to do that what you’re going to do
as an exit strategy
to take that place yeah no I think you
know there’s plenty of time you know I
see my children being younger there’s
plenty of time to make that decision but
you know I would want them to do what
they feel that’s going to make the
biggest impact in their lives and how
they can leave a legacy is law and I
think that’s something I’m teaching them
so if it turns out that hey this isn’t
something that you’re interested in
doing that’s fine I I think that you
know that could work very well for them
my wife’s a pediatrician so they if they
want to go down that route or finance
business whatever that’s great but I’ll
show them different things so that gives
them more of a spectrum to which did and
I like don’t like this or whatever yeah
so uh you know kind of given those those
sort of ideas do you think that putting
putting planning stages in place is
something that might be vital for a
business owner
perhaps you’re taking in to those
contingencies and and so forth you know
within their plan you think that that
would be wise advice for somebody yeah I
mean clearly depending on where you are
in your life you know one of the things
you should have these were gone in any
business make sure that you have my
solid business plan and then that you’re
able to pivot I was actually on LinkedIn
this morning and there was a post on
there from someone who owned the CPA
firm he said that in the beginning he
had value-based pricing and you know not
to get into too much leads on that but
that didn’t work and then you know kind
of explained the story of how he was
able to pivot change and eventually you
know being able to do that look at the
market and the world world changing so
with technology knowing where you are
and what your plan is now but to be able
to kind of you know either be the
disrupter or the planner or what come
next and understand what that might be
like you say well there’s extra strategy
whether it’s you know what products or
services are changing so that I can stay
up with that not get left behind yeah
yeah that’s a good point so from the
from the CEO and business owner
standpoint are there maybe a couple
things that that are sort of those
states stay awake at night moments for
you it stills you own in your in your
journey as a business owner well I can
say I’m fortunate that I usually on the
sites that can put it all aside go to
sleep because the problem will still be
there in the morning so I don’t I don’t
stay up too much a night for thing and
for that I can tell you that there have
been times that I would say you’re
you’re not an entrepreneur and if you’ve
never stopped and said how am I going to
make payroll how am I going to pay rent
next month how am I going to do this is
out of the other I think everybody has
that struggle from an employee
perspective and this is not that these
thing that you know I’ve talked to
people in all different you know other
entrepreneurs collaborations I love
doing that every entrepreneur I talk to
we’ll tell you that or the utas who
probably will tell you the employees
think you’re millionaires and they don’t
understand that sometimes as a business
owner you might actually be making less
that they are but you know if you have a
vision and you believe in something then
you know even if it’s not going exactly
how you want the beginning you’re going
to keep working at it here you know
found a way out and you’re eventually
going to be successful and the ones that
aren’t are the ones that give up too
soon and then so trommel clearly if you
have it has something that just doesn’t
work then you know sometimes get the
carpet or losses there’s something you
believe in that can work you know don’t
bang your head into the wall but keep
looking at ways to innovate to grow and
to you know learn from others from other
people’s mistakes or learn from their
insight to I you know to make it better
so it’s kind of dig into what you’re
mentioning there a little bit further
because you were talking about young
people that give up and and what would
you say maybe are some of the the
reasons that are most common that their
business owners new entrepreneurs are
giving up or that they’re failing in
their venture at there’s other few
things that that you would warn people
about yeah I think um you know a lot of
times people you know go into a business
without fully vetting out what what’s
involved and then all that for example
in our our my wireless on store is you
know that franchise model they said hey
you know you have to have X amounts to
start the business and it’s not
necessarily just you know here’s what
you need to buy the business
but how much money do you have to you
know if that’s the first couple months
or the first year is tough how would you
be able to draw upon additional fund
that keeps going but I think some of
what people struggle with might be you
know they don’t have enough fund that
could be an issue another one can be you
know not really being passionate enough
or believing and not and what they’re
doing and I think another part of it is
not having the right people to counsel
you know not having the right coaches
they’re not having the right people
around you to throw ideas out
they you know hey this isn’t working
what’s work for you or you know what
would you do or in this situation what
do you recommend because you know but I
think a lot of people just you know if
you just say you know jump into
something and if they and if it isn’t
really working let me get out of it
a perfect example is have you ever heard
of the book Think and Grow Rich by
Napoleon Hill from Internet okay yeah he
said that he gave an example of a father
and son mining company gold mine they
bought into his gold mine and they were
digging and digging and finally they
just said yeah there’s no gold here and
they sold the gold mine for pennies on
the dollar and the next owner came in
and dug a little bit further and boom
hit the jackpot so to speak and if you
know if what you’re doing is sound and
you really believe in it you know make
sure you stick with it to the point of
success and not give up before you know
usually people give up right before they
would have had an amazing success and so
you know descent that something is a
good opportunity you know don’t give up
too fast you know hang in there that was
good yeah yeah goodbye sir so what maybe
are some of the specific roadblocks that
you’ve encountered that you would warn
someone against to sort of keep their
eyes out for and then on the flip side
of that what are some resources that
you’ve been able to tap into that have
been useful sure no and I think to me be
you’re looking for other people in the
industry and maybe that means people in
you know obviously your competitors
aren’t going to share with you
necessarily but you know if you’re in
the franchise talking to other franchise
owners that’s super important
looking at other business people you
know if it’s not the same you know
protocol the same business talking to
other entrepreneurs what works for them
what if they experience what are they
done what have they done when times were
tough you know to me like one of the
biggest challenges is employees you know
finding good employees is very hard
especially in the retail space so you
know how to always be pipelining for new
employees and know
properly motivating the employees that
kind of thing but I can’t emphasize
enough how important it is to you know
talk with and work with other
entrepreneurs you know and and do it
from the perspective of I want to have a
relationship with you so that get your
ideas with you but I really value your
ideas I want you as part of my network
to share my ideas but also learn from
you and have it as a two-way street and
not only look to get more to somebody
else that you’re getting and I think in
the long run people will be happy to
share with you if you’re happy to share
with them yeah that’s pretty sure and
you know mentorship is such a huge huge
benefit for people when you have
somebody that has gone through what
you’re going through
and they can give you that advice
because you know that as they say you
know the the best advice is someone
else’s mistakes not your own so if you
can learn from somebody else’s mistakes
then that there’s so much cheaper and
you know what was painful absolutely and
the other thing other resources are
staying resources the SBA our small
business development centers a lot of
times those are in local universities or
you know not as local but could be a
national university but small business
development centers will help you with
you know creating your business plan
helping you find funding you know
helping with strategy marketing all
those kind of things and a lot of those
things are free people just don’t
realize that it aren’t you know reaching
out for those opportunities but you know
you take advantage of that as well you
know like you say you learn from other
people’s mistakes but learn from other
people that are successful you know
without even paying sure sure sure and
you know a Small Business Administration
is a very good one and for for those
listeners that are also veterans there’s
a specific department that I’ve spoken
to a few people on previous episodes
that there’s a specific department even
others fall in business administration
that works for setting up businesses for
for veteran business owners so you know
look into those things as well because
those resources are just you know
they’re there for your benefit and your
tax dollars pay for it and listen let’s
use it you know let’s take advantage of
those things because there’s there for
our for our use how would you how would
you say Sean that your personal values
play a play roll into your business
decisions yeah I think I think integrity
is the most important thing and being
transparent I know for me you know
there’s gonna be times when my employees
do something wrong and you know it could
cost the customer so I need to address
that with the customer and I need to
show them that I’m doing everything that
I can to you know to make things right
one of the things that you’ll you’ll
find is that I found at least is my
customers really appreciate when there’s
an issue and I reach out to them and you
know I say hey look you know I’m not
gonna make excuses but you know hey I’ll
you know take the blame for where you
don’t throw your employee under the bus
necessarily unless have something that
you know they really really need to do
that and I think you know the customers
that call and say you know hey this is
that went wrong at the store and the
first thing I tell them is you know all
I’m sorry to be the negative person or
the bet and I always show them know in
all honesty my best customers are the
ones they’re going to tell me the truth
and tell me a situation so I can remedy
it you know the worst thing you could do
as a customer is to just go tell your
friends don’t ever go there don’t ever
work with them you know but to give me
the opportunity to make it right
I really value that and I really want I
want to make it right with every
customer I recognize that that’s not
always going to have hundred percent of
the time so but for the customers that
give me that opportunity to correct
something you know I want to treat my
customers the same way as if it were me
and in their shoes and I know that you
know it if if I wasn’t getting what I
was I was expecting I would want the
business to make it right and that’s
what I want to do for the customers as
well sure and that’s you know it’s a
very good rule to live by here obviously
the golden rule there but you know it’s
it’s good we’ll slip by and you know
something like having a apparel
scenario is even in with my advisory
I will ask my clients what would it take
for you to farming you know I want to be
that transparent to where you know I
want them to know upfront that I’m
interested in the things that they
consider to be success and failure from
my standpoint you know what am i doing
that’s this good in their eyes and
what’s bad in their eyes and you know I
want to know that up front because how
they’re handled is important and so you
know absolutely I’m handling that those
situations with integrity and
transparency is is kili important it’s
yeah and I’m Steeve as well yeah I like
to think of every employee as being like
my family I mean every customer being
like my family so I want that to happen
to my family whatever it is I gotta make
it right so that you know they’re
they’re treated that way yeah it’s very
true so when when starting your business
he obviously would would have come
across some hurdles and and some
struggles you know building your your
business and getting at getting off the
ground what were some of those that
maybe you can talk us through sure yeah
and I I always sit they they’re years
ago when I was in college my uncle why
had retired and he wanted to get into an
ice cream business and my advice to him
was before you buy you ice cream
franchise why don’t you go down to your
local ice cream place and work there for
a couple months
learn the ins and outs of the business
and yeah I didn’t take my own advice I
wish I did you know the franchise
provided me with three weeks of training
two weeks in their headquarters so four
weeks that you know eight-hour days and
then one week in a local store to that
area it was actually up in Connecticut
and then they you know they have at it
and you know go run your store and
honestly that’s that’s great that they
provide that but you know it’s like
anything else how much can you really
look back into three weeks so there’s
plenty that you’ll find a number day one
my brother did the training with me and
day one we had in place we bought an
existing business we had two employees
that were there and
it was hectic it was a Saturday Saturday
and in retail Saturday’s pretty big and
by the end of the day we were both
saying thank God we had those two guys
there because you know if we had to
figure out all this on our own without
people with experience boy oh boy we
were in trouble so you know if you’re
gonna go into a business you know learn
everything you possibly can about it and
if you have the opportunity to work in
that field or you know whatever it is
you know if you know obviously if you’re
a technical professional whatever and
that’s what you’ve done for somebody
else for years then you already there
but if you’re going into something like
an ice cream store or a I was always
interested in XYZ you know and a minimum
talk to owners of of such a business I
definitely work in that very time people
earn as much as you possibly count about
so enduring the you know after after
opening your doors you know there there
would have been you know some custom
growing pains and you have successes and
and so forth what did all that look like
you know during the early days of your
business yeah I mean I would say it’s
very seasonal right so but I can tell
you and without going through every
month obviously the holiday season
November December our best month every
single year January and February used to
be not our best month so you know that
and then you know you know months in
between you know which ones are gonna be
better than others so you know I think
preparing for that understanding the
staffing one of the things I learned
early on is I started out with three
employees and I got there realizing that
you know the cost of having three
employees they’re definitely lower than
the cost of having four employees
however I got to the understanding that
by adding the fourth employee I was
having more coverage so therefore the
customers that would come in on an
evening when there was one employee
there versus two I was missing out on so
if I had could add one employee for
let’s say $10 an hour as opposed to
let’s say one sale that
maybe $100 profit by not having that
employee I wasn’t saving money
I was actually losing turn so you know
understand and being able to add that
other employees actually brought more
money into me how can you you know grow
and expand and then one other things
outside of the store that’s daily
marketing networking with people those
building relationships with small
businesses so on how can I grow my
business using those and one of the
things that I did you know my stores in
Northern Virginia but I’m actually
originally from New Jersey is reach out
to family and friends on you know
Facebook Linkedin wherever and say hey
you know when you’re gonna get your next
phone or if you look for tablets or that
come to me as the you know the expert in
the field and let me work with you and
find a better deal for you then you’ll
get elsewhere but also you know make it
a win-win so you you can save money and
I can get something as well the win-win
sure sure
now we were mentioning the the seasonal
parts and you know that that’s very very
familiar story for a lot of people and a
lot of different businesses not just
franchises how is it that you yeah what
did you learn over the the course that
helps you to be able to span you know
the feast and famine periods yeah I
think part of it early on was having you
know the right banking situations so I
had a line of credit if I needed it
which was always good to have you know
then also understanding after the
holiday season going to January and
February knowing the things gonna be
tighter having an honest conversation
with employees saying if you’re not one
of the top employees I may be going from
four people down to three you don’t want
to be the person that’s cut out with
that said you know we can make outbound
calls and bring more customers into it
into the store and if you’re willing to
do that and help you know grow the
business from that perspective then one
you’re going to be successful in two I
can potentially grow the business and
therefore keep you so you know preparing
ahead of time you know if we have this
the beast month putting a little bit of
side so that there in the famine month
you have some capital to you know run
but also staying expectations for
employees that you know hey if you’re
not going to be the top performer and
you know help me grow this then you’re
unfortunately you’re not gonna be around
so did you learn that leveraging not
you’re missing out using the lines of
credit so you know you learned also that
leveraging those assets was going to be
useful for your business as opposed to
you know being being hard-nosed and say
I’m never going to take out loans why
some people try to do yeah no no I think
you know depending on what your business
model is you know if you’re if you’re
the type worth you know your sweat
equity that’s making money let’s say
like you’re a landscaper or a consultant
or it’ll be financial services
accounting whatever it is you know your
sweat equity is what you know what runs
the business then you know maybe you
don’t need to be be in that scenario and
plenty of people would say you know hey
stay away from debt don’t get into debt
don’t take out that for the business but
you know there’s other types of
businesses where you need a certain
amount of equity certain amount of lines
of credit and if you’re using your
credit properly it’s definitely a tool
that can help you know grow the business
or you know put you in scenarios that
can protect you in times when you know
the cash flows is not there you can tap
into that yeah yeah and you know wisdom
comes through that you know the the you
know the difference between when to do
it and when to not do it and what what
would you call good debt and bad debt
and understand the difference was there
because when you’re when you’re needing
it for the lean times but knowing that
that’s going to be made up the next
month then that could be something that
really can save your business and should
be you know should be your eyes and the
wife in the proper ways exactly and
sometimes that that could be the
difference between you know I can do
this and I’m have to go bankrupt have to
shut my doors or I can’t you know can’t
continue this business that would only
be successful later on obviously in my
industry already know when the good and
bad times are but if you’re just
starting out and you’re like oh my
goodness two or three months in that
haven’t made any money you know that
that ability to have those finances to
keep it going
could potentially be good debt you know
the other way to look at it is if I’m
putting it on a credit card and I’m
paying 18 20 or you know 22 percent you
know even scenarios out there where you
know when our stores are having read you
know rebuild there’s um you know some
financing companies that will lend you
money at 1520 now 15 18 percent you know
I can go to my bank and you know you
have equity in your home or whatever it
might be and you can get you know three
four five percent you know there’s a low
interest rate you know borrowing I would
say is good debt like you say to the
extent that you know you know when it’s
not very good time you can pay it off as
opposed to with a high rate what I would
say you know no thanks I’m not really
interested in you know that kind of kind
of raid or you know putting it on a
credit card it’s definitely not going to
be sustainable either it just you know
too much cause an interesting call sure
and that’s where some of the value of
you’re reaching out to your financial
professional that does know where those
sources are and you know you may be
sitting on a source that you know an
asset that you didn’t think about before
it may be you know something that you
can tap into that that perhaps is able
to to help you that you weren’t even
considering so you know certainly
financial professionals can sort of help
look at things through a different lens
than what you’re looking at and you know
it’s well worth you know speaking of
someone to look at those things I’ve
even had out real estate people looking
into their life insurance to to pull
from you know from the cash value to
make real said deals and and in turn you
know that that was able to help them
tremendously so again yes it’s all it’s
all in you know how you’re looking at
something I absolutely great I think
it’s important to know like you say what
asset also to kind of you know think
within the parameters of here’s what I
what’s a little bit of a stretch but
might be able to be a synergy within my
business for example at my store
obviously we’re selling Verizon Wireless
products and services well you know
could I leverage relationships with
repair people I’ve done that
in the past I’ve also done hey you’re
looking again your new device why don’t
you trade in your old device with us and
we’ll give you a reasonable price for
that and then I’ll be able to turn
around and flip that for a small profit
you know as well and and you know
sometimes it’s not you know really that
significant but here’s what you’re gonna
get anywhere else I can give you a
little bit more but the win for the
customer and then I can then sell that
on my own that a you know a little bit
of a markup so sure you know finding
other ways to add income for the bottom
line that you know in a synergy of your
business is is often a good way to go at
all no absolutely so ultimately what
compelled you to go into the direction
of doing the frozen franchise
well I always from some of the kid
always want to be an entrepreneur and I
kind of feel that most people that are
entrepreneurs it’s kind of something
that’s with you they always have and
it’s a question on whether you’re
execute on it or not and you know I
spent 15 years in corporate tax and then
you know finally had a family and I was
working for a big four accounting firm
and you know the hours you put in is
really significant and I just wanted to
say you know how can i maybe balance my
time with my family and it’s funny that
I thought that because a lot of times
when you go into entrepreneurship you’re
going to be interpreted as many hours
you just may have a little more
flexibility about when you put those
hours in but you know I always wanted to
have something of my own kind of towards
what you’re saying the legacy you know
own your own business I think that was
something maybe instilled in me as a
child to my my grandmother’s actually
you know born and born in Ireland came
over here to 16 and eventually had a
business of her own and just kind of you
know as a kid selling candy bars you
know for her school shoveling snow my
brothers and I did that you know we’re
always looking for ways to make money
and having our own business even at like
9 or 10 years old I was shoveling snow
on a during a snowstorm to make extra
money you know just I think that’s kind
of ingrained in me and I knew it I’m a
big proponent of if there’s something
you love doing or something you really
want to do eventually do it or make a
plan to do
though that you you know you don’t want
to live at the end of life and say I
regret that in open up a bit i regret
that in spent on my family i didn’t
travel whatever might be that important
you don’t end up with that regret sure
yeah wise words you know regret is one
of the most expensive things that we can
that we can run across in life and
there’s no dollar figure you can put on
trying to get that back because well you
can’t buy back time and so I totally
agree with you about about the regret
situation is there perhaps a different
profession out there that you would be
considering down the road or you feel
like you pretty much found your niche I
love the Verizon thing I like the retail
obviously with people buying things
online you know you always look at the
SWOT analysis your strengths weaknesses
opportunities threats and I would say
for us the threat is online purchasing
and so what I need to do is educate my
customers for the fact that you can buy
something online but then you’re gonna
end up coming into my store anyway to
have a conversation on how do I transfer
my data how do I do this how do I do
that so to me my value proposition to my
customer is you know the service that
can provide right so you have to find
what your value proposition is and be
able to you know speak to that you know
but the other thing is like I say you
know to the point of one of the things I
would like to do I just get a lot of joy
out of helping other people and so you
know that’s part of the reason why I
wrote my book that’s part of the reason
why after going for you know accounting
and Finance got my masters in taxation
being a lifelong learner actually went
back and got a second bachelor’s degree
in counseling and I’ve done coaching not
necessarily for profit although I think
I would enjoy doing that but um you know
just coaching other people other
business owners and coaching me they you
know younger generation you know the
millennial generation I think that
there’s a lot of the employees that have
been just kind of coaching people you
know if I could just do that on a daily
basis that product that I really enjoy
for sure
you mentioned your book there uh you
don’t mind telling us a little bit about
your book and and what that entails
sure so and 2013 actually interestingly
enough it was published five years ago
today the book is called saving your
future step by step guide to wealth
development and what I did was I kind of
set out in 2013 to you know write a book
kind of sharing some of the successes
that I had and you know basically the
step by step here you get at that
college or high school wherever you are
and you know the financial challenges
that you go through as well as you know
like you said learn from other people’s
mistakes or learn from other people’s
successes I was sharing in that book you
know everything from creating a rainy
day fund to saving for a car what’s the
best car to buy for you you know whether
it be a new car used-car saving for a
house and throughout all that making
sure you’re saving for a retirement
insurance as you alluded to so you don’t
lose all of it and you know it’s kind of
every aspect of personal finance that
the average layman might be able to
understand and put into effect you know
for their financial success the key
being saving for retirement I think it’s
like saving your future saving for your
future I constantly read articles about
how people in their fifties sixties
don’t have enough money for retirement
and you know the key is to start early
but even if you started later you know
figure out a way to you know plan
wherever you are in life so that even if
it’s a late start that you’re getting
thumb start rather than not sure sure
and you know starting later yeah
ultimately just means that you have to
do more work you know in a shorter
period of time
yeah it doesn’t mean that’s not possible
it just means you know we have a lot
more work to do and and so don’t let you
know a late start be something that
shuts you down I totally agree with you
there and there there been numerous
people that they have you know had have
said that at first is you know well I
didn’t start when I was younger I really
don’t think I’m going to be able to do
that and you know when you show them you
know let’s just do a little bit more
work you know you might have since
you’re built a little tighter
you’re you’re gonna be able to get there
and so it’s just knowing that it is
possible and and just doing it you know
just you know put your nose across when
they do it does anything is possible to
say something or just say is your
greatest strength that you’ve discovered
I think probably you know some of my
financial background but I think I think
if you say what’s the greatest strength
probably optimism I think that’s
something that every entrepreneur has to
have and I think that’s the reason why
many people are going to business do
fail because you know they think you
know like oh this is gonna be great and
then when it isn’t great immediately
they just give up so I feel like you
know you have to be realistic in your
optimism but you know you have to feel
like hey if I’m gonna do this it can
work you know plan through it make it
work you know understand the logistics
of you know not high in the sky ideas of
you know oh let’s just be optimistic you
know that anything can happen like you
know people say you know you can do
anything you put your mind to no not
necessarily true you know I’m 44 years
old I’m probably not gonna run a
marathon you know I could if I wanted to
I guess but uh you know I I guarantee
you I’ll never be in the NFL or the NBA
at this point in my life so nope not
anything I put my mind to but you know
being optimistic about you know any
venture that you’re doing planning
around it but but knowing that if you
put your heart and mind into it and you
create the proper plan it can be done
even if other people are naysayers you
know looking at it from a positive
perspective and figuring out how to make
it work in a positive way you have to
you have to be optimistic even in the
down on the Northeast successful as an
entrepreneur I believe what’s for true
the flip side of that what would you say
is your greatest weakness I guess one of
the ones that I’ve really overcome you
know constantly work hard to overcome is
I’m more of an introvert and I
recognized probably back when I was in
high school at being an introverted not
to help me in life and you know in order
to make it you have to be an actually
extrovert or at least pretend you are so
I think what being introvert means to me
and somebody else to say says and you
know I talked a lot of other
entrepreneurs that day hey you know you
will go to this networking event or I
actually even created a networking group
you know you got to go to Sam not really
good at interacting with people and
that’s an excuse as a introvert myself I
can say that I would prefer not to
necessarily interact with people on the
Sun you know depending on the scenario
but it just you just put a little more
effort and you can do it it’s just it’s
just a little bit more work than it is
for somebody else and any end the
pleasure enjoyment I get from helping
somebody else that gives me that energy
to do it and then seeing the successes I
mean to me when I’m in my store you know
on a particular day and a customer comes
in and I solved that problem that’s just
just amazing it just feels so good to do
that so you know overcoming so you know
understand your weaknesses but knowing a
way to overcome them I think is is
really important turning that weakness
into a strength and you know for me that
doesn’t mean putting an extra effort you
know putting in that energy to overcome
the desire to just be on the on the back
wall but instead of putting instead
putting yourself in the know the room
and well said well said I I can relate
to you on the introvert thing because
I’m by nature I would I would be against
the back wall and stood in the middle
but yeah sorry I’m doing a podcast and
I’ll do seminars and what have you
interests or my therapy is yep making
myself get out of out of my cover zone
and getting out in the middle of things
so yeah that’s that is well put if your
describe your your role in your business
from a high level for example you know
somebody on someone listening that wants
to open a franchise and they just want
to kind of know what it is what it’s
like for for a franchise owner how would
you describe that sort of a high-level
view yeah I think I think my perspective
is that a franchise can be very good
because you’re really
you’re not just buying a business you’re
buying a system so someone has a success
story or success plan in place for you
to follow and essentially do well
because it’s been done already and it
can be reproduced right so do you think
franchise probably the first thing that
pops into people’s minds it might be
like a McDonald’s right they have a
system that works you know if you are I
could open up our own you know further
shop and you know maybe we’re successful
at it and it would probably cost us less
money to just open you know Joe’s burger
shack or whatever it might be but you
know we would have to know how have all
the equipment know what works no with
temperatures know what all the codes the
health codes and so on and so on and so
on you know there’s so much to know
within the course of a franchise you
know again you’re paying for this but
you have that advisory you have that
team that can you know do the market
research to understand the market know
what works and share those best
practices with you and you know say hey
if you do abcdefg you’re going to be
successful because other owners that are
doing that have that experience and then
also that network of other owners that
you can tap into to say hey you know
what’s your best practice when it comes
to you know customers returning devices
or you know what have you been doing and
they in this economy here this
particular scenario to bring more money
into your business and just sharing
those ideas back and forth you have
something like that necessarily in the
in that kind of franchise system that
you may not have on your own but again
with anything in life there’s pros and
cons to everything so if you really
understand the business and you know you
hey I can do all this on my own without
you know somebody else’s input it might
be less expensive to do it that way so
you know pluses and minuses to it you
know I can tell you within the Verizon
store model there’s no other way but
franchise to get into it so you know
that that’s that’s kind of where I am
and and I don’t regret it I think it
works very well
and this something the first people to
consider should I get into a franchise
all you go back to my uncle situation he
went bought into an ice cream franchise
that is not a household name I don’t
even know now whether that company still
in existence anymore but if you’re going
to go into something that is not a name
that people know think twice about it I
would say yeah but if it’s something
that you know well-known and there’s
value in that name brand then it can be
an asset to you for sure yeah sure good
advice so it kind of been winding up our
our conversation that we have today
what is something Shawn that you could
tell us that most people probably don’t
know about you sort of a tribute thing I
guess maybe that uh I created a I
created a charity of my own
it’s called socks for the homeless and
every Christmas time I guess people
locally would know that but um every
Christmas I’m we I learned probably
about seven or eight years ago that
people donate you know clothing money
whatever but the one thing that people
generally don’t think is donate to the
homeless is stocks and you know there’s
nothing as bad as you know wet feet or
socks with holes in them we’ve all seen
this you know the homeless person or the
idea with the shoe holes in their shoes
or socks or whatever
socks provide warmth they can keep your
feet from getting you know funguses you
know diabetes whatever whatever might be
and then also when when when I’ve done
that you know it’s a small charity that
I pretty much if they hands-on thing so
I collect socks at my store as well as
other local businesses and go myself
with my family to give them out every
year and then sometimes you know I’ll
feel inspired to just go buy a bunch of
socks and do it myself we’ll go down to
Washington DC which is about 25 minutes
from us and just on the Saturday
afternoon hand out sock
but um some of the people actually say
Wow can I have another pair because I’m
gonna using this gloves you know aren’t
gonna have a second pair because you
know you have one pair of socks and
that’s it some don’t have any so I just
felt like if that’s something that
need I’m gonna try to get that Nick
really helps new cloth yeah it’s a good
thing that you’re doing also you know
just being able to give back and yeah
pay it forward to two people because you
know when we’re blessed it’s it’s really
something that we’re we’re called to do
and it’s incumbent on us to you know
continue to bless and and pass that
forward to the next person so that they
can in turn pass it forward and just
sort of moved and move the ball down the
road mm-hmm yeah and philanthropy is
really important to me and another thing
we do the wireless don’t franchise
system as a is owned by a company called
TCC and they do have another Brent
that’s called the culture of good and
they do a bunch of different things but
every year they do a backpack drive and
at a local level our stores can buy
backpacks with school supplies and give
them not the children and you know
there’s gonna be ones that come and you
say you know hey these people really
don’t need that but to me the impact has
been you know this year specifically I
had one mother that came in said thank
you so much this is such a blessing my
husband just left us and I didn’t know
how it’s gonna get tool supplies for our
children and you know like that type of
thing just makes me realize it’s all
really worth it you know helping
somebody else out changing their life
for the positive is just what we’re
really here yeah yeah good good good
words and a good way to wind up our our
time here this afternoon now Shawn I
would like for people to know how to get
a hold of you if they just speak to you
about you know different things you know
maybe get some advice or tips tricks
what have you what’s gonna help you and
also maybe get a hold of your book or to
build a turn into your YouTube channel
that you had out there you know you can
get my book on Amazon and create space
or pretty much anywhere if you just look
up saving your future
we’re not usually typing to get is
saving your future maranatha and that’s
my last name
usually that’ll bring it up pretty high
if somebody wants to reach out to me
then my email is moving toward coaching
at gmail
that’s MOV ing towa Rd Co ACH ing Gmail
and I will definitely to the extent I
can if somebody reaches out with
questions I’m happy to answer because I
think it’s important like you say to pay
for to provide other people with you
know if you are knowledge not on doing
something you can never take with you so
share it with with people whenever you
can sure sure and yeah certainly a
valuable note right there so I
appreciate your time Sean and thank you
for being on the program
and like I enjoy telling each of the
people that come on as guest I’ll see
you around the around the bend my friend
well thank you so much for having me I
greatly appreciate what you’ve been
listening to legacy caster thank you for
joining us today and be sure to come
back next time as we speak with more top
influencers industry experts and
business owners from around the world

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