Jason Garcia is CEO of Holdings, which is revolutionizing business banking with high yield. After starting his career at Goldman Sachs and KPMG, he held leadership roles at Mercury and Divvy.

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Guest Resource

Get Holdings – Sign up and refer someone to get $100 accounts. Connect to Jason by checking out his website.

3 Value Bombs

1) Prioritizing self care and mental health is important to the success of your business.

2) Every business has to have a bank account. Holding your money is not enough, there should be more value to help the business succeed.

3) Financial literacy is general as a business owner. It is important to make decisions but the types of tools that you choose will help you increase your financial literacy.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Revolutionizing Business Banking by Empowering Entrepreneurs

[1:24] – Jason shares something that he believes about becoming successful that most people disagree with.

Prioritizing self care and mental health is important to the success of your business.

[2:17] – Jason shares his journey from traditional banking to fintech entrepreneurship.

He grew up at the heart of financial services. He was in public accounting and investments and learned a lot in time. He saw that a lot of financial providers are focused on large businesses and overlooked the small and medium sized businesses.
He ended up in commercial banking and was dedicated in focusing on start ups that earn more than $500K revenue but saw that a lot of business don’t get to that level.
He started working on Fintech and his solutions focused on helping small businesses succeed.

[4:11] – Jason shares the inspiration behind founding Holdings.

They are dedicated to provide the operating systems for most business.
Every business has to have a bank account. Holding your money is not enough, there should be more value to help the business succeed.
The inspiration is to build the operating system for businesses to build on top of. This includes all the financial tools to help succeed and those tools should reward you for the business that you are bringing to the bank.
Rather than prioritizing profit, they are more on the customer relationship that has cash back elements for debit cards.
They want to make the most rewarding banking and operating system for businesses to succeed.

[5:40] – Jason talks about Holdings disrupting business banking with high-yield solutions.

The largest of businesses have access to this type of products for a long time. You provide the deposit and the bank parks it to Federal Banks or using it to generate yield through lending or investment programs. In most cases, your checking account doesn’t pay you back a reward but the bank is earning with every dollar you give them.
Their program pays you a rate for the funds that you are giving and the cost to administer that in that bank is the same whether you are a small or big business but the small business doesn’t have the relationship leverage to push that. Their program made it accessible to everyone.

[8:10] – A timeout to thank our sponsors!

HubSpot: Breeze is HubSpot’s collection of AI tools that helps you turn one piece of content into a whole suite of assets. Visit HubSpot.com/marketers to learn more!
ZipRecruiter: Let ZipRecruiter find top talent for your roles — in no time at all! Go to ZipRecruiter.com/fire right now to try it for free!
Author100: A 100-day program where I will personally guide you 1-on-1 to create, write, publish and market your book! If you want daily guidance and mentorship from me, JLD, then head over to Author100.com to sign up for a free call to chat about the details!

[10:35] – Jason talks about the challenges as well as opportunities in the current fintech landscape.

Its challenging because of the financial turmoil we have gone through that has made us weary of new financial products.
Seeing what happened with cryptocurrencies and banks failing has caused scepticism around new financial products that made businesses to know where to place their money safely and lack of trust is a challenge.
The advantage as fintech provider is that other institution have not innovated a lot and they are changing the game.

[12:50] – Jason shares his top advice to those who are looking to maximize their business finances.

First, have a separate account to dedicate taxes. It is important to acknowledge that that money is going to sit for a period of time and will earn a yield for you and you are getting a return for it is completely liquid.
Another way is separating the business finances and personal accounts to know how much you have to work with.
The way to do high yield accounts is through debit card cash backs especially if you have a new business without credit card access with high rewards program.
It is important for you to find a way to get the financial moves that you make for your business reward you, because the financial system is earning revenue in the payments that you are making.

[15:12] – Jason talks about the future of business banking.

Most businesses will revolve around business banking.
30 % of businesses in America don’t use ancillary products in the bank and what he sees is consolidation of those tools into one simple system.
Early of 2025, they will be launching an embedded account platform and they will take that data and automate accounting so you will not have to use different tools.

[16:39] – Jason talks about another role of Holdings in this specific industry.

They want to play the role in between commercial banking and retail banking.
They want to redefine what business banking means with a friendly experience of a customer type of banking products with all the features and functionality that you get in a commercial banking product.

[18:49] – Jason gives his final take away.

Financial literacy is general as a business owner. It is important to make decisions but the types of tools that you choose will help you increase your financial literacy and make sure you are on top of your game without having to study or be a qualified person.
There are lots of tools out there, specifically Holdings being one of them, that is dedicated to make your life easier and run your business efficiently without using too much time.

[19:40] – Call to action.

Get Holdings – Sign up and refer someone to get $100 accounts. Connect to Jason by checking out his website.

[22:17] – Thank you to our Sponsors!

HubSpot: Breeze is HubSpot’s collection of AI tools that helps you turn one piece of content into a whole suite of assets. Visit HubSpot.com/marketers to learn more!
Author100: A 100-day program where I will personally guide you 1-on-1 to create, write, publish and market your book! If you want daily guidance and mentorship from me, JLD, then head over to Author100.com to sign up for a free call to chat about the details!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!