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Interview with Garrett Gunderson

What You Must Know to Turn Your Practice Into a Wealth Factory

Garrett Gunderson debunks the many myths and fabrications undermining the prosperity and joy of millions of hard-working and honest business owners. Gunderson’s company, Wealth Factory, empowers its members to build sustainable wealth. Through financial efficiency and organization, Gunderson, leads his clients to clarity, peace of mind, and financial confidence. His firm was named to the INC 500. He is the co-author of several books including the New York Times bestseller, “Killing Sacred Cows”. Garrett has also appeared on CNBC, Fox News, ABC, and is a contributor to Forbes and other widely read publications.

Show Notes

  • People must have financial comfort in order to enjoy life.
  • Gunderson’s personal story about his connection to chiropractic and Patrick Gentempo.
  • Personal finance for business owners. Seek financial freedom, instead of dependency.
  • “Treadmill factor”
  • 125 people per year get one-on-one with Wealth Factory.
  • Garrett works one-on-one with business sizes $500K-$10 Million. Businesses below that can work in group sessions and with short phone calls.
  • The most common bottleneck, in businesses earning $1 million, is the owner. The owner gets in their own way.
  • Train and prepare someone to take on a role for you, so you (as the owner) do not have to wear all the hats of the business. Hiring a GOOD person and paying them well, is worth it.
  • Wealth Architecture Premium
  • Take time to focus on your vision, how to create more value.
  • 93% of chiropractors overpay on their taxes.
  • Take advantage of certain tax deductions – expenses that can become deductions, such as donating artwork.
  • Student loan debt: take inventory of all loans and write down each balance. Figure the cash flow index of each by taking the minimum required payment and dividing it by the total owed.
  • It’s important to restructure loans appropriately and improve your credit score

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