Ep #112: Entrepreneurship and Building Successful Businesses with Alan Moore and Michael Kitces

Michael Kitces and Alan Moore are the co-founders of XY Planning Network, and they join the show today to discuss their journey through entrepreneurship. If you desire to excel in the financial planning profession, then this is an episode you definitely won’t want to miss!

Listen in as Michael and Alan share how they entered into entrepreneurship, what they like (and don’t like) about being entrepreneurs, and how they were able to work together to build several successful businesses even though they are wired differently. We also discuss how they handle the stress of running multiple companies, how they cope with the pressure of having several hundred employees who rely on them, and the one thing that firm owners sometimes do that keeps their organizations from growing.

What You'll Learn In Today's Episode:

Highlights from the recent XYPN Conference. (2:20)
The two schools of thought when it comes to entrepreneurship. (9:55)
How Michael and Alan handle working together even though they are wired differently. (11:20)
The highs and lows of entrepreneurship. (15:50)
The importance of being able to change as a business owner. (28:30)
The number of employees Michael and Alan have in their companies. (30:30)
Some of the things that have surprised them about entrepreneurship. (42:15)
How Michael honed his leadership skills. (52:55)
What Michael and Alan are most proud of. (57:45)
Tips for new planners. (1:02:20)

Ideas Worth Sharing:

“We were selling a dream that was never going to be a reality.” - Alan Moore Share on X “Entrepreneurship is much more about the expression of creativity and art—it’s not ‘pick up an idea.’” - Alan Moore Share on X “Business partnerships are like marriages.” - Michael Kitces Share on X

Resources In Today's Episode:

Michael Kitces: Website | LinkedIn
Alan Moore: LinkedIn
XY Planning Network
AdvicePay
fpPathfinder.com
The Power of Habit: Why We Do What We Do in Life and Business by Charles Duhigg

Download your free copy of the New Planner Career Roadmap!

In this roadmap, you'll be guided through the details of various stages of your financial planner career, including position descriptions, licensing, skill and experience level requirements, and compensation ranges.