About Mike Plumlee
Mike Plumlee, financial advisor, has over 30 years’ experience working in the financial industry, but he has always been fascinated with the business world in general, especially when he sees people succeed. TV shows like Shark Tank and The Profit have always appealed to him because he’s a constant observer of people and a perpetual student of life. He always roots for entrepreneurs and small business owners and loves watching people triumph over adversity.
Mike Plumlee attended Southern Methodist University in Dallas, Texas where he earned his bachelor’s degree in political science and government. Although he originally planned to be an attorney, he soon realized that his passion was in the finance industry when the stock market caught his eye. Mike quickly realized that numbers and data and analytics “made sense” to him, and it was an effortless transition to bridge the gap between his former major and his newfound love of finance.
Mike’s first job after graduation was at the brokerage firm Dean Witter. He absorbed a lot of information and gained experience during his time there, but he also felt the pressure on big firms to constantly meet strict quotas in order to stay afloat in a highly competitive industry. Other trainee-level brokers struggled during this time, and he watched his class dwindle from 210 members to 16 within two years. He succeeded consistently and stayed with the firm for five years, before deciding to venture out on his own. Mike Plumlee, financial planner, knew that his firm would be different than larger ones because the focus would be on the clients’ needs rather than on the bottom line. People would be his priority, along with a more honest alternative to money management.
He worked with a business coach in order to seamlessly make the shift from being a transaction-based broker to building a business model and seeing things through both a business owner’s and broker’s point of view. One of the many reasons Mike’s companies are so successful is his ability to develop strong business plans before he even hires his first employee or begins preparing budgets. Because of his unique double perspective, he is more well-rounded as both a business owner and financial advisor, and he delights in sharing all of this knowledge with his protégés.
Mike Plumlee and his family reside in Dallas, Texas, where he was born and raised. In his free time, when he isn’t with his family, Mike likes indulging in his favorite hobbies, which include golf and sailing.
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Business plans can become outdated with time. Technology changes and the needs of potential consumers can change as well. Those that have businesses that are functional still need to look at opportunities to update the business plans because updates can produce greater returns on investment.