For this episode, David sits down with Ben Risser who is passionate about small businesses and startups. He is the owner of Providence Financial Services, which exists to help people with the right financial advice. In particular, empowering small businesses to invest and secure the finance they need to thrive, grow, and pay their people well, which builds strong communities.
Ben shares some simple litmus tests you can use to determine if an investment is right for you. He also speaks about how his faith helped him and his partner to be brave, back themselves, do the right thing and navigate an incredibly difficult business situation.
KEY TAKEAWAYS
- If you can´t, explain an investment to a friend, you should be speaking to a financial advisor rather than investing in it directly.
- Do your due diligence – understand what can go wrong with an investment.
- Running out of cash is one of the main reasons startups fail.
- Investing in hiring talent too early is a common mistake.
- Startups benefit greatly from employing the right fractional Chief Financial Officer (CFO) for them.
- Entrepreneurs whose startup aligns with their purpose, typically do well.
- Put yourself in the shoes of your employees. It will make you treat them properly.
- Use your data to inform your strategies.
- Get the right people in the right seats.
- Don´t get distracted from your purpose.
BEST MOMENTS
‘A good investment is one that you understand how profit is earned.’
‘You can invest for an impact.’
‘Have faith that through this hardship, God's goanna accomplish a greater good’
‘You need the checks and balances in a business.’
EPISODE RESOURCES
https://providentfinancialservicesltd.com
ABOUT THE SHOW
People with purpose make a difference. Imagine a world where more people can just get their purpose out of them, into a plan and then actually make it happen. What a world that would be - People everywhere finding meaning and harnessing that to bring inspiration and energy to each and every day, changing lives for the better. But no one ever achieved anything on their own - we all have something unique to bring and that means we all have to play our part - if we want to go far, we have to go together and lead or serve towards a vision of the world we want to see. Everyone has a story to tell, and this show is where these stories come to life.
ABOUT THE HOST
David Roberts is a highly regarded CEO, mentor, and investor with 30 years of experience across multiple sectors. As an intrapreneur and entrepreneur, David has bought, grown, started and sold several businesses, working with values-driven start-ups, award-winning SMEs, and multinational corporations on strategies for service excellence, leadership, and profitable growth. David’s passion is for purpose and creating an environment where everyone can succeed, through building teams that get things done, execute on their mission with passion, deliver exceptional service and really make a difference.
ARTWORK CREDIT
Penny Roberts - https://www.instagram.com/penpennypencils
CONTACT METHODS
LinkedIn - https://www.linkedin.com/in/david-roberts-nu-heat/
Facebook - https://www.facebook.com/DavidRobertsPeopleWithPurpose
Instagram - https://www.instagram.com/davidcroberts_/
Clubhouse - https://www.clubhouse.com/@davidcroberts?utm_medium=ch_profile&utm_campaign=MBv1ubya1-oOBXc_uQKFHw-46334
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