I interviewed over 1,200 advisors. There are Hundreds of 20 minute, always relevant, Radio & Podcast interviews available to listen to on our "jukebox". offering Clarity and solutions for Business and Life issues.
"It's like an Advisor Jukebox...you always have dozens of Titles to choose from, and they are all 20 minutes and audio only, so perfect for the drive to and from work, (or while you're waiting for soccer/baseball practice to end!)"
Episodes
Wednesday Mar 05, 2014
Wednesday Mar 05, 2014
John Livingston of Plethora Businesses talks about the importance of Employees in the Business-Sale process. John's full live show will be up early in the morning - but you can listen to it anytime! Tell a friend, y'here? #ExitCoachRadio.com - The Information Station for Baby Boomerr Busines Owners. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Baby Boomer Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by this advisor - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have dozens of Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Tuesday Mar 04, 2014
Tuesday Mar 04, 2014
In this 20 minute interview, Matthew Capell, January Partners, discusses an alternative for owners who want to transition out of their businesses but may be too small to sell to an outside buyer or Private Equity Fund.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matthew- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Tuesday Mar 04, 2014
Tuesday Mar 04, 2014
In this 1 minute highlight, Matthew Capell, January Partners, explains the concept of a "Search Fund" and how it can help owners who want to transition out of their businesses.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matthew- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Monday Mar 03, 2014
Monday Mar 03, 2014
Numbers are black and white right? Not
really. When you hire an investment
banker to sell your business, they "normalize" the company's numbers to present the best
version of financial performance. What do they look for, and what can you do in
advance to help the sales
process? In this article, we identify the top 10 EBITDA adjustments, so you can have a better
chance at selling your company at the highest price.
Monday Mar 03, 2014
Monday Mar 03, 2014
In this 20 minute interview, Jim Immel, Owner, Immel and Associates, Inc. discusses his experience in working with business owners, and the importance of asking the right questions to dig deep and get important answers. He also discusses the "3 types of businesses".
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Jim- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 175 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Monday Mar 03, 2014
Monday Mar 03, 2014
Aaron Weiner shares another tip about considering your real estate needs to enhance your business value. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by this advisor - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have dozens of Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Sunday Mar 02, 2014
Sunday Mar 02, 2014
After initial interviews sales people want to prepare “solutions” for their prospective clients. The sales person heard clients’ articulate goals, concerns and possibly expectations for their next steps. What question do YOU ask in situations like this?
Does it sound like – “what presentation should I use? What other situations were similar so I can prepare a presentation? What should I concentrate on for my presentation? What financial model should I use?
Or, should you reflect – “what has prevented these people from solving this problem before? If I were the client selling our solution upstream to other decision makers/team members; what information would I require to accomplish my sale to someone else? Just remember, it is NOT about you.
Sunday Mar 02, 2014
Sunday Mar 02, 2014
In this 20 minute interview, Jason Kwiatkowski, President, Valuation Support Partners Ltd. discusses the enormous amount of business transfers that will take place in the future and the best ways to prepare your business to sell or transfer effectively.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Jason- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 150 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Sunday Mar 02, 2014
Sunday Mar 02, 2014
In this 1 minute highlight Rhett Bray discusses how the methods used to control costs have not worked to reduce costs of benefit. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Baby Boomer Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by this advisor - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have dozens of Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Sunday Mar 02, 2014
Sunday Mar 02, 2014
We have a NEW E-Book, called "100 Words From 20 Advisors", available It contains written highlights from 20 of our Guests on Succession and Exit Planning, Growing Your Business and it's FREE Click on the Picture for your copy
Saturday Mar 01, 2014
Saturday Mar 01, 2014
A great question for the business owner is – “what is most important; having an “A” level plan with “B” level execution, or, a “B” level plan with “A” level execution?” This can lead to a great discussion, yet, is it the right question? What if you approach your planning to make sure where you KNEW there was passion for execution at the “A” level and then built an “A” level plan. The right question – How do we get an “A” level plan with “A” level execution? Not accepting anything but an A-GAME leads to excellence and market differentiation. Invest time to ask the right question.
When your sales people are selling – do they ask the right question(s)? Are the questions asked so the salesperson can discover information – or, are the questions asked so the clients can discover clarity?
Friday Feb 28, 2014
Friday Feb 28, 2014
Business owners constantly look to improve their business –
they look to improve the health of their company. How many questions do they consider as they
look to understand how to improve their business?
How do clients KNOW that they are investigating the right
options when they ask the question to start the process? Business owners are easily challenged because
business owners are busy, they are confident and they love solving
problems. With the speed of business
they consider a question – call on life experience and information readily
available and they are “doers”.
Business owners act quickly once they have a feel that they
can improve their business and the results.
Just consider for a moment - What if the initial question is
the wrong question? What if the question
asked is focus too narrowly or is focus on only short-term improvements? What if the question doesn’t consider
long-term succession planning issues?
How does the action impact the long-term is challenging if you don’t
have the goals clarified for the long-term?
Thursday Feb 27, 2014
Thursday Feb 27, 2014
6 Ways You Can Make Your Company A Learning Organization<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />
I’m not a big fan of buzzwords. I also have to admit there are times where they actually become useful. The problem with this particular one, “learning organization” is that it’s often misused.
I do believe that if you really
want your company to get better, it needs to be a learning organization.
At the same time, just saying you have one doesn’t make it true. Here are
6 things you might want to think about if you’re really serious about
Thursday Feb 27, 2014
Thursday Feb 27, 2014
In his 20 minute interview, Chuck Kiskaden, President/CEO, Health Benefits Advisors discusses the pace of change in the Benefits field and how he helps businesses keep informed and current.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Chuck- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 150 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Monday Feb 24, 2014
Monday Feb 24, 2014
In this 20 minute interview, Kevin Weir, Action Coach, discusses the importance of focusing on the tasks that will help you transfer your business more easily and for more value in the years leading up to your Exit.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Kevin- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 150 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Sunday Feb 23, 2014
Sunday Feb 23, 2014
Are you thinking about selling your business, but you’re not really sure where to start? Do you have an exit strategy in place?
Selling a business is not as easy as selling a house. With a house you know what you’re selling - 3 bedrooms, 2 bathrooms, with a great view, in a popular location. There are probably several similar homes in the local neighborhood that you can look at for comparison and you can always call on the expertise of your local realtor, when considering a potential sale price.
When selling your business, it’s difficult to gauge exactly what you are selling. You may ask yourself: is my company valuable? Is my business sellable?
Your Sellability Score reveals how “sellable” your business is and predicts the likelihood you’ll get a premium over industry average multiples when you’re ready to sell.
The Sellability Score can assist you in answering these questions. This online tool has been developed by best selling author John Warrillow, whose work includes “Built to Sell: How to Create A Business That Can Thrive Without You”.
You simply complete a brief online questionnaire to receive an immediate Sellability Score of between 1 and 100 for your business. You will also receive a 26 page report full of charts and graphs that will give you insights into how buyers evaluate your business.
In just 13 minutes, this absolutely free and confidential self-assessment tool will score your business in a number of key areas and tell you just how sellable your business is.
Put a value on your business using the same methodology company acquirers use and discover how to increase the price you’ll get for your business.
Pinpoint the areas in your business that need improvement in order to maximize the value of your company.
You may not even be considering selling your business at this point; however completing the Sellability Score can help you to plan your exit strategy effectively. It can assist you to build/grow your business in such a way that, when the time comes to sell, your Sellability is maximized to its full potential.
Click here to Get YOUR Sellability Score
Saturday Feb 22, 2014
Saturday Feb 22, 2014
5 Reasons You Need To Spend 20% Of Your Time Marketing - Bill Black
OK, it might not be exactly 20% of your
time, but it will be at least that much if you want to have a continual source
of revenue. One of the big problems you have when you run a small
business is that there are dry spells of not having enough new business to
service.
This problem is caused by a
very simple issue. You haven’t been consistently selling your products or
services. There’s no secret to creating a stream of new business.
You just have to make enough sales calls and voila, new sales appear.
Whether you have a sales
department or not the key is to have a consistent sales effort. Lumpy
sales come from selling then servicing then selling again. You need to
develop a way to both sell and service at the same time. If your company
is small, you need to set time aside for this activity. If your company
is larger and you have a sales staff you need to manage their activity.
The easy part is knowing what
you have to do. The hard part is knowing why it’s important. Here
are 5 things to consider:
1. You’ll
be able to meet your payroll.
I find this is one of the
biggest worries of smaller businesses. If you employ less than 25 people
there probably have been times when you were worried about having enough money
to meet payroll.
This is not an unusual
situation. Most smaller business owners I’ve talked with tell me that
from time to time they are really worried about meeting payroll.
Sometimes they even stop paying themselves.
This problem is always caused by
new sales drying up. If you spend 20% of your time creating new business
you’ll have enough business in your pipeline at all times. You might even
get to stop worrying about not meeting payroll.
2. New
customers are more profitable than old customers.
Old customers just don’t make
you as much money as new customers do. You might not increase prices
charged to your older customers. Old customers often aren’t getting
leading edge projects. Old customers might even start thinking of your products
as commodities.
New customers will buy your
latest and greatest. New customers will value what you do. New
customers will often pay you more than old customers for the same products.
The trick is to not only get
new customers, but to have your old customers think of you as a new
supplier. This will help you keep all your customers profitable.
3. Customers
are going to leave your company.
Customers go away.
Sometimes they go out of business, sometimes they sell their businesses and
sometimes they decide they want to use a different supplier. If you don’t
have a pipeline of new customers to replace the ones that go away you’re going
to have less business.
Having a new stream of sales
prospects allows you take the loss of customers in stride. It’s tough to
lose a customer. If you have new customers you’re working on the ones
that slide away won’t hurt as much.
If you spend 20% of your time
scouting for new customers you probably won’t have to worry about losing the
few that disappear. You must plan for some reduction in your customer
base every year. If you don’t have a way to replace them, eventually
you’re going to have problems with cash flow.
4. You’ll
have created a strategy for creating new sales.
Sales is hard work. Most
small companies just use brute force to get new business. They just make
calls and hope that good things happen.
Marketing is the strategic side
of sales. If you spend 20% of your time making sales calls you’re going
to get tired of having doors slammed in your face. You’ll probably find
ways to get better results. This is called marketing. Marketing is
all about strategy. Spending time working on new business every week will
automatically help make you a marketing whiz.
5. You’ll
start to learn about the difference between sales and marketing.
Sales and marketing are two
very different activities. Sales is all about tactics and marketing is
all about strategy. I recommend that you first start spending your 20% of
your time on marketing and then start selling.
Once you’ve put together strategies
for selling, use those strategies for the 20% of your time you spend on
sales. If you first plan how you’re going to be successful you’ll likely
be more successful. It’s very simple, but few people actually start with
marketing. You can be different and get better results just by making
this change.
If you want your company to
prosper you have to make sales and marketing part of your week, no matter how
busy you get. I know that you’ll be tempted to put sales on the back
burner when you get busy. If you do, just know that there will be a time
when your business slows down. Is this something you want?
Saturday Feb 22, 2014
Saturday Feb 22, 2014
In this 20 minute interview, Nick Yocca, owner - The Yocca Law firm, discusses several reasons why California Business Owners are contemplating moving to lower tax climates, and the potential benefits of such a move.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Nick - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 150 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Friday Feb 21, 2014
Friday Feb 21, 2014
To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you. This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise.
To
scale up a knowledge-based business, you first have to figure out how to impart
your knowledge to your employees, so that they can deliver the goods. However
it can be difficult to condense years of school and on-the-job learning into a
few weeks of employee training. The more specialized your knowledge, the harder
it is to hand off work to juniors.
The
key to scaling up a service business can often be found by offering the service
that prevents customers from having
to call you in the first place. You have to shift from selling the cure to
selling the prevention.
Fixing
what is broken is typically a hard task to teach; however, preventing things
from breaking in the first place can be easier to train others to do.
For
example, it takes years for a dentist to acquire the education and experience
to successfully complete a root canal, but it’s relatively easy to train a
hygienist to perform a regularly scheduled cleaning.
It’s
almost effortless for a real estate manager to hire someone to clean the eaves
trough once a month, but repairing the flooded basement caused by the clogged
gutters can be quite complex.
For
a master car mechanic, overhauling an engine that has seized up takes years of
training, but preventing the problem by regularly changing a customer’s oil is
something a high school student can be taught to do.
For
an IT services company, restoring a customer’s network after a virus has
invaded often takes the know-how of the boss, but preventing the virus by
installing and monitoring the latest software patches is something a junior can
easily be trained to do.
When you’re selling your expertise, it can be tough to hire a team to do the work for you. As ironic as it sounds, sometimes the key to getting out of doing the work is to offer a preventive service, which not only maintains your business income, but also eliminates the need for someone to call you in the first place.
Thursday Feb 20, 2014
Thursday Feb 20, 2014
When co-owners are united in striving toward common business goals such as growing revenue, building business value and increasing cash flow, the business dynamics can be wonderfully positive and strong. These owners move together to reach common goals. Contrast that bright picture with what can happen when, suddenly perhaps, the goals of the owners diverge.
Most closely held business owners are full-time employees (and more) in their businesses. What happens when one of the owners wants or needs to leave the company?
Possible reasons for leaving are many, ranging from boredom to more dramatic and unexpected events such as the sudden disability of an owner. Let’s use owner disability to illustrate some of the significant issues raised when ownership goals are no longer aligned.
When disability strikes an owner, the company will endure substantial hardships, both economic and operational. More importantly, in the absence of a buy-sell agreement, the disabled owner’s income stream from the company also may evaporate. This problem confronted Steve Hughes, one of three equal shareholders in a growing advertising agency.
At age 38, Steve suddenly had a stroke. As with many stroke victims, his recovery was incomplete. Physically, he was the picture of health (his golf game even improved!); but he totally lost his ability to speak and read. Doctors told Steve he would never be able to return to work.
Steve’s firm had a buy-sell agreement, but it covered only a buyout at death and an option for the company to buy Steve’s stock if he were to try to sell it to a third party. Trying to find and sell closely held stock to a third party is a difficult proposition anytime; Steve’s disability made it impossible. Even if his fellow shareholders had wanted to continue his salary, they did not have the resources to do so indefinitely.
As a result, the company and Steve were left in a classic dilemma—the company, or rather the remaining shareholders, wanted to purchase Steve’s stock so that its future appreciation in value, due now to their efforts alone, would be fully available to them. Conversely, as Steve’s family soon realized, the owners of closely held stock rarely receive current benefits in the form of dividends. The profits of a closely held corporation are either accumulated by the company or distributed to the active shareholders in the form of salaries, bonuses and other perks.
In short, Steve’s family would not get what it needed most—cash—to replace the salary Steve was no longer earning. Steve’s partners faced the prospect that their efforts to increase the value of the business would reward Steve as much as themselves.
This dilemma could be solved only by a buyout of Steve’s stock. His family then could receive a fair value for his business interest when they otherwise would receive nothing (until the company was eventually sold or liquidated). Meanwhile, ownership would be left with those responsible for the company’s success.
The Hughes buyout faced several problems arising from the now-divergent goals of the owners. Prior to Steve’s unexpected disability event, joint contributions of time, effort and capital created unanimity among owners. Now, one owner needs cash, while the company and the other owners want to retain earnings for growth.
Further, the remaining owners want to pay as little as possible over as long a time period as possible because they (or the company):
- Will pay for acquiring that value with after-tax dollars; and
- Want to preserve, not spend, capital on a non-productive asset such as stock of the company.
Before Steve’s stroke there was mutual agreement and understanding among the owners. After his disability, there are radically different owner wants and needs. The result: Owner discord and impaired business performance.
Typically, we must address four major issues that arise in situations like this:
- Agreement on the business value.
- Funding for the buyout.
- Agreement on the payment terms of the buyout.
- Payment to the departing owner with the least income tax consequences.
A buy-sell agreement drafted before such transfer events occur and when mutual ownership objectives unite all owners can anticipate and manage each of these issues.
If you would like to discuss in more detail ways to prevent problems in a transfer of ownership, please contact me.
Wednesday Feb 19, 2014
Wednesday Feb 19, 2014
There are
many things in the bundle when you package your business for sale besides your
financial bottom line. There is your
company’s goodwill and your company’s facilities whether they be leased or
owned. In both instances, your physical
plant – be it warehouse, office, or retail – is a reflection on your company. Be mindful to make them a valuable asset in
the sale package, not a liability.
Here are a
few key precepts to keep in mind when you make key real estate decisions
leading up to the eventual disposition of your company:
·
Remember that the image of your building
reflects your company’s culture and makes a major impression on your employees
as well as your visitors – or potential buyers
·
Be sure to negotiate the transferability of any
lease renewal options
·
Make sure the building you occupy is efficient
and functional for your business operations.
·
Keep the Permitted Use language flexible to keep
your future options open.
Avail
yourself of the services of a competent commercial real estate broker who will
help you plan for these and many other critical considerations that affect your
bottom line.
Wednesday Feb 19, 2014
Wednesday Feb 19, 2014
In this 20 minute interview, Frumi Rachel Barr, Founder of eVirtual Roundtables discusses how she is solving a need amongst CEO's who can benefit rom connecting through Peer groups but who don't have the time to travel and attend regular meetings physically.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Frumi- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 150 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Tuesday Feb 18, 2014
Tuesday Feb 18, 2014
This brief article is from Scott Donnelly, CPA & Partner, PDM, LLP. Scott was previously interviewed by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
To listen to other content by Scott - See the "ADVISOR INDEX" on right from the Home Page.
PDM CPAs maintains
long term professional relationships with many of our clients. A key to our
success is ensuring our clients have the right team at our firm as well as
other appropriate consultants. We meet
with our prospective clients to determine what their needs are and also gain an
understanding of why they are changing CPA firms. We also want to maintain open communications
with our clients other consultants such as attorneys, financial planners and
bankers. A key to a successful business
plan and succession planning is maintaining a team of competent
professionals. Our clients success is
our success.
Monday Feb 17, 2014
Monday Feb 17, 2014
The following is the third of a 3 part article by Louis Tucci of L. Tucci Financial LLC.
You can hear his full 20 minute interview here at www.ExitCoachRadio.com tomorrow, Tuesday, 2/18
Developing A Succession Playbook
To assist you in your planning, we recommend writing a succession playbook. Begin by listing every key stakeholder to the business who will be affected by your exit and the impact that the exit has on each person or association. It has been said, “You cannot manage that which you cannot measure,” therefore, taking stock and measurement of those affected by your eventual departure is an important component of coming to grips with the changes the company will face.
Tipping the First Domino – Getting the Process Started
Eventually, when the initial planning is complete, your outside advisors and internal managers are aligned with your thinking and when it comes time to execute, you will need to begin the communication process. We recommend that you organize / schedule the initial conversations with your top managers first in order to gain consensus at the top of your organization. After their questions are asked and answered, it will get progressively easier to communicate both down the employee list as well as to outside parties.
Concluding Thoughts
Succession planning is not an easy task and it is not something you do overnight. There are many moving parts involved with passing the torch, but with the proper succession team and transition planning, you can alleviate many of the headaches associated with this life-changing event. Start planning early; be mindful when considering the impact on your employees, customers, business relationships and vendors; develop a team of individuals who you trust to guide you through the process; have a clear and concise communication plan ready to roll out; and, develop a succession playbook. Having these tools in place will help to eliminate an environment of instability and will provide ease-of-mind as you move on to your future endeavors.
L. Tucci Financial LLC
Louis Tucci
310 Passaic Ave.
Ste 203
Fairfield, NJ 07004
973-582-1003
ltucci@financialprinciples.com
www.ltuccifinancial.com
Securities offered through Securities America, Inc., A Registered Broker/Dealer, Member FINRA/SIPC. Neither Forefield Inc. nor Forefield AdvisorTM provides legal, taxation or investment advice.
All the content provided by Forefield is protected by copyright. Forefield claims no liability for any modifications to its content and/or information provided by other sources.
Sunday Feb 16, 2014
Sunday Feb 16, 2014
The following is the second of a 3 part article by Louis Tucci of L. Tucci Financial LLC.
You can hear his full 20 minute interview here at www.ExitCoachRadio.com on Tuesday, 2/18
Anticipating the Needs and Concerns of Others
We know that anticipating the needs of others has a positive effect on the overall success of a business. To help alleviate the stress and anxiety associated with making this decision, it is useful to anticipate the concerns and needs of others by preparing in advance. One way to do this is by using an outside advisor or team of advisors to guide you through transition planning before turning to ‘insiders’, i.e. those closest to you in the business.
The Use of Outside Advisors in the Early Stages of Planning
Planning an exit or a succession of your business is a lonely task at best. Having access to a team of experienced and objective external advisors can be very helpful during the initial planning stage. While it might be tempting to look within the organization for guidance and assistance, keep in mind that core employees and/or insiders generally lack the experience needed for this type of planning. In addition, you will also want to give careful consideration to the inherent conflict of interest that exists with insiders / managers, as they are likely to consider the impact that these changes will have on them personally, making it difficult to provide you with completely objective and unbiased advice.
How and When to Bring Insiders into Your Circle of Trust
After an initial stage of planning, where you get educated on the exit options and begin the process of executing on your strategy, you will eventually need to bring specific members of your leadership / management team into the planning process. Determining who to trust (as one of your insiders) and who will be the best and most effective advisors, can be a challenging task and careful consideration and thoughtfulness is in order.
As a general rule, you want to begin with one or two trusted insiders who are working at a strategic level with you in the organization. It is expected that these senior managers can understand what you are sharing and, perhaps, even see the benefits of future ownership of the business in new hands.
An Internal Communications Plan
In any business scenario or situation, communication is a critical component and a key to success. Without clear and concise communication, outsiders (and insiders alike) may begin to speculate or fret over what the future holds. No matter the level of internal input or consensus achieved, it pays to develop a detailed list of all individuals directly impacted by the eventual succession and exit.
For some folks, the owner’s exit may mean a promotion and/or greater responsibility. For others, having the owner move on may mean the end of their employment within the company. In some cases – where the owner manages key relationships to the enterprise – a tailored communication plan is necessary to assure relationships will remain intact and not be damaged through the succession.
The process of detailing the anticipated impact on each of these individuals is hugely valuable to owners and helps them think through the likely scenarios where others will feel the change. Having a documented “Succession Playbook,” which considers all possible scenarios, adds a dimension of organization and planning to this process which should help you, the owner, get a higher level of comfort with this inherently challenging task of communicating change through the organization.
L. Tucci Financial LLC
Louis Tucci
310 Passaic Ave.
Ste 203
Fairfield, NJ 07004
973-582-1003
ltucci@financialprinciples.com
www.ltuccifinancial.com
Securities offered through Securities America, Inc., A Registered Broker/Dealer, Member FINRA/SIPC. Neither Forefield Inc. nor Forefield AdvisorTM provides legal, taxation or investment advice.
All the content provided by Forefield is protected by copyright. Forefield claims no liability for any modifications to its content and/or information provided by other sources.
Sunday Feb 16, 2014
Sunday Feb 16, 2014
In this 20 minute interview, Greg Janes, Sr. Business Credit, Cash Management Consultant , Wells Fargo Business Banking group discusses ideas and strategies regarding Banking Services and how to build a better relationship with your Banker so they can help you prepare for your future needs.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Greg - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Sunday Feb 16, 2014
Sunday Feb 16, 2014
In this 1 minute Highlight, Greg Janes, Sr. Business Credit, Cash Management Consultant , Wells Fargo Business Banking group discusses how utilizing state of the art Banking Systems can save you and your company precious time and money.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Greg - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Saturday Feb 15, 2014
Saturday Feb 15, 2014
|
The following is the first of a 3 part article by Louis Tucci of L. Tucci Financial LLC. Owner Preparation for a Future
Exit
L. Tucci Financial LLC Louis Tucci
Securities offered through Securities America, Inc., A Registered Broker/Dealer,
Member FINRA/SIPC. Neither Forefield Inc. nor Forefield AdvisorTM provides
legal, taxation or investment advice.
|
Saturday Feb 15, 2014
Saturday Feb 15, 2014
In this 20 minute interview, Jim Blue Owner, BlueTutor discusses how he helps Business Owners choose the right technology based on their needs and shares tips from his BolgTalk Radio Program "Keeping Technology Simple". Jim also shares a little bit about his book "So Much Technology, So Many Choices" (now available on www.ExitCoachRadio.com)
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Jim - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
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Friday Feb 14, 2014
Friday Feb 14, 2014
Boardwalk
Brand Strategy and Development
661-299-9277 x 801
kevin@boardwalkla.com
http://boardwalkla.com
Friday Feb 14, 2014
Friday Feb 14, 2014
In this 20 minute interview, Matt Amaro, Associate at BarthCalderon,LLP, discusses how business owners need to integrate business succession and estate planning when they are thinking about their futures.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matt- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Friday Feb 14, 2014
Friday Feb 14, 2014
In this 1 minute highlight Matt Amaro, Associate at BarthCalderon,LLP, discusses the key reasons why people who own Real Estate need a Living Trust.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Matt - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Friday Feb 14, 2014
Friday Feb 14, 2014
Wherever you are, I hope you are feeling the warmth of love from another today!
Thursday Feb 13, 2014
Thursday Feb 13, 2014
In this 20 minute interview, Jerry Wheeler, President, Huntington Beach Chamber of Commerce, discusses the history of Huntington Beach (Surf City), how his Chamber works with an eclectic mix of Business and Tourism issues, and his views about the relevance and future of the Chamber of Commerce.
The interview was conducted by David Elliott, President and CEO of the Santa Ana Chamber of Commerce, on "The Chamber of Commerce Corner" a feature of The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by David Elliott and Jerry Wheeler- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Thursday Feb 13, 2014
Thursday Feb 13, 2014
In this 1 minute highlight, Jerry Wheeler, President, Huntington Beach Chamber of Commerce, discusses how Chambers of Commerce need to change with the times but they will always serve a unique and relevant purpose in the community for Small Business Owners.
The interview was conducted by David Elliott, President and CEO of the Santa Ana Chamber of Commerce, on "The Chamber of Commerce Corner" a feature of The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by David Elliott and Jerry Wheeler- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Thursday Feb 13, 2014
Thursday Feb 13, 2014
In this 1 minute highlight, Jerry Wheeler, President of the Huntington Beach Chamber of Commerce, discusses how Chambers of Commerce can work in tandem with Political Action Committees to help the Small Business Owner have a voice, as long as they are managed separately.
The interview was conducted by David Elliott, President and CEO of the Santa Ana Chamber of Commerce, on "The Chamber of Commerce Corner" a feature of The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by David Elliott and Jerry Wheeler- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Tuesday Feb 11, 2014
Tuesday Feb 11, 2014
In this 20 minute interview, Peter Stephan, Senior Vice President, United Retirement Plan Consultants discusses the wasted opportunities for tax reduction and retirement savings that many business owners are experiencing because they do not have an experienced plan designer customizing their plan contributions.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Peter- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Saturday Feb 08, 2014
Saturday Feb 08, 2014
Stan Briggs was perplexed when he told his advisor, “My son, Patrick, has worked in the business for the last twelve years. In that time, the business has tripled its revenues and its profits. I’ve started to think about scaling back my activity and I realize how important it is (for my own retirement income) that Patrick be motivated to continue to grow the company profitably. Since I’d like to have him own the business someday, is there a way to start transferring it to him now? It seems unfair to make him pay for all of the business value since he created so much of it and since he is so important to my financial security. My son, of course, agrees wholeheartedly with this analysis but I’m not so sure that his mother and sister are on the same page. What issues do I need to consider?”
Equal vs. Fair
First, Stan must determine if his son is already paying for the business through “sweat equity” (more working hours, greater risk and lower compensation than he could have earned elsewhere). If so, any reduction in the purchase price is not a gift, but rather recognition of Patrick’s contribution.
Second, are Patrick's efforts adding value to the business? If so, should Patrick have to pay for his efforts by receiving a reduced share of Stan’s ultimate estate?
Third, if Patrick’s involvement in the business is critical to Stan’s retirement, Stan should consider tying his son to the business using “golden handcuffs,” such as awarding ownership if Patrick stays to run the business—and the business stays profitable.
Fourth, in many business-owning families, every child is offered the opportunity for involvement in—and ultimately ownership of—the family business. Many times, however, only one child forgoes the allure of the “outside world” to commit to working in the sometimes uncertain and illiquid world of a closely held business. (Not to mention that having you for a boss should have some payoff!)
Lastly, analyze the transfer issue in light of your own goals. Be certain that any transfer to children will satisfy your exit objectives. Explore with your advisors other issues and concerns that may arise as you begin to transfer ownership to a child. For example, how much money will you need after you leave your business? What, if anything, needs to be done for your key employees or for your other children? Temper and qualify all transfers to children in light of your over-arching exit objectives. In short, make certain the transfer of ownership to a child is also a good business and retirement decision.
Using Advisors
When considering a transfer of your business to a child, don’t underestimate the value of using experienced consultants and advisors. Their counsel, experience and input are perhaps never more important than when dealing with your own family. The need for independent, non-emotionally-charged advice can be critical. Having worked with other family businesses, these consultants along with your other advisors can offer practical advice.
Decision Framework
- First determine the level of contribution your business-active child has made to the value of the business.
- Second, determine the contribution that child must continue to make to ensure the achievement of your exit objectives. Those determinations can form the basis of what is “fair” with respect to both the business-active child and the other children.
- Third, use your advisors to help explain, guide and implement the transfer of the business.
We are happy, as always, to assist you with analyzing the issues involved with a transfer of ownership to children.
Subsequent issues of The Exit Planning Review™ provide balanced and advertising-free information about all aspects of Exit Planning. We have newsletter articles and detailed White Papers related to this and other Exit Planning topics. For more info , contact me at billblack@exitcoach.biz
Saturday Feb 08, 2014
Saturday Feb 08, 2014
In this 20 minute interview, Bruce Jones, TaxWealth discusses how his assessment tools uncover tax reduction strategies for business owners, building owners and holders of appreciated property.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Bruce - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Thursday Feb 06, 2014
Thursday Feb 06, 2014
In this 20 minute interview, Diane Pritchett, President, South Coast Metro Alliance, discusses many of the benefits of working closely with your Community Associations.
The interview was conducted by David Elliott, President and CEO of the Santa Ana Chamber of Commerce, on "The Chamber of Commerce Corner" a feature of The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Listen to other content by David Elliott and Diane Pritchett - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Thursday Feb 06, 2014
Thursday Feb 06, 2014
In this 20 minute interview, Michael Weisman, Founder - The Values Institute discusses how companies are realizing that by focusing on the values they demonstrate and instill in their people, they are also bonding with their customers, who crave a relationship beyond product. A fascinating interview!
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Michael - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Wednesday Feb 05, 2014
Wednesday Feb 05, 2014
In this 1 minute highlight, Scott Donnelly, CPA- Partner, PDM, LLP suggests that the best way to find a good Advisor is to ask your current Advisors and then interview the referred Advisor to make sure you are comfortable.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Scott - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Tuesday Feb 04, 2014
Tuesday Feb 04, 2014
In this 20 minute interview, Rickard Hansson, Incentive Corp. discusses the concept of increasing collaboration between co-workers with a central web-based idea sharing system that focuses on collecting and categorizing informal company knowledge into a usable format. Very interesting!
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Rickard - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Tuesday Feb 04, 2014
Tuesday Feb 04, 2014
Does your
intuition tell you that the firm may be a little cash strapped? Have your CFO give you a current Balance
Sheet and do a Quick Ratio.
A Quick
Ratio is taking your current cash (bank) balance(s) and add to it the total
Accounts Receivables. (Be sure to deduct all receivable over ninety days,
because these accounts are clearly a collection issue). Divide the Cash &
Accounts Receivable total by your Total
Current Liabilities! This is a good
indicator of liquidity, although by itself it is not a perfect one. The higher
the number the stronger the company.
Dave “G”
Sunday Feb 02, 2014
Sunday Feb 02, 2014
Tips to Get the Most Out of your Employees -- Your Human Capital
by Linda Duffy
1.
Think of your employees or human capital and make sure you’re getting
your return on your asset or investment. Your employees may be assets that go
home every night, and for most companies, payroll is the largest line item in
their budget. Unlike most assets that depreciate over time, your human capital
appreciates in value. Employees acquire new knowledge, skills, and abilities,
and they have tribal or organizational knowledge that takes time to replace.
Make sure you’re measuring the ROI or ROA of your human capital. Choose
appropriate metrics for your industry and organization and just start
someplace. Choose simple metrics at first such as (a) revenue per employee or
payroll dollar; (b) error rates; and (c) productivity per employee.
2.
Train your managers! The Gallup Organization has done extensive
research regarding employee engagement. They found that the number one reason
employees leave their employers is NOT compensation, but because of their boss!
After surveying millions of employees worldwide, they also found that only 30%
of employees are actively engaged at work, 50% of employees are not engaged,
meaning they’re just kind of hanging out, and the other 20% are actively disengaged,
meaning they’re toxic and spreading discontent.
Managers need to be equipped to manage employees, including how to identify top
talent, develop talent, motivate employees, and provide effective feedback.
Many managers are promoted because they were the best worker, not because they
have management skills. When people are promoted into management roles and not
provided training, 40% fail within the first 18 months. So, the most important
decision you can make to improve your organization is to hire and develop great
managers.
We focus them on the actual deliverables for the position that will support the company’s overall strategic objectives. We then develop what we call a Success Profile, and listeners can download samples from the Resources page of ethoshcs.com. For example, we’re doing a search right now for a National Sales Manager for a manufacturing company. In order to be successful, the new manager must develop a strategic plan to support 40% revenue growth, broken down by industries and territories. In the first 60 days, the manager must drive the implementation of a CRM software tool. And so on… There are actually 11 deliverables for that position in the first year.
What’s great about this process is that everyone has absolute clarity about what is expected, so it dramatically increases the success rate in hiring. That Success Profile becomes the basis for how we source and recruit candidates; the candidates love it because either the job excites them or they simply self select out of the process; and hiring managers love it because they have a performance management tool once the new hire starts.
Listen to other content by Linda - See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
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Sunday Feb 02, 2014
Sunday Feb 02, 2014
In this 20 minute Interview, Tony Pelusi, Tony Pelusi & Associates discusses how he helps clients transition from being overly focused on the office to living a life of meaning and balance.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Tony- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Sunday Feb 02, 2014
Sunday Feb 02, 2014
1. You are GOING to leave your business someday. You only have two choices for transitioning:
a. Plan your transition on YOUR terms
b. Let OTHERS plan it FOR you (i.e., family, governments, courts, lawyers, etc.)
2. Most business owners think of retirement as one of two choices:
a. Die at their desk (because they can’t think of anything more meaningful to do)
b. Retire to a boring, meaningless life (i.e. “The Golden Years” our grandparents retirement)
i. We say: no there is a third choice – The Platinum Years℠, a dynamic life, full of purpose and meaning, the best 10,20 or 30 years of life
3. Leaving your business is NOT a “Do It Yourself” project. Depending on the size of your business, you will need at least 4 and as many as 17 different advisors
a. Why? Because the skills and knowledge you have gained to start and run your business, are NOT the same skills and knowledge that you need to leave your business, and you don’t have 20 years to learn them all
Successful Transition
Planning Institute
Paul
F. Cronin
Andover,
MA
978-749-9546
978-697-4380
(cell)
paul@thenexttransition.com
Google+: pfpcronin
Linked-In:
paulfcronin
Saturday Feb 01, 2014
Saturday Feb 01, 2014
In this 20 minute Interview, Larry Mandell, Owner, Independent Tax Group discusses some of the ways that his group helps reduce property taxes without cost or obligation to the taxpayer.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Larry- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Saturday Feb 01, 2014
Saturday Feb 01, 2014
In this 1 minute Highlight, Larry Mandell, Owner, Independent Tax Group discusses how Tax Assessment rules can change from state to state and it pays to work with localized experts.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
Check back to listen to other content by Larry- See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1 MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary , text "EXIT" to 22828 or CLICK HERE
We have over 125 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
Saturday Feb 01, 2014
Saturday Feb 01, 2014
In this 20 minute interview, Reuben Franco, President of the Orange County Hispanic Chamber of Commerce, talks about several great ideas and suggestions for making the most of and getting great value from your Chamber of Commerce.
The
interview was conducted by David Elliott, President and CEO of the Santa Ana
Chamber of Commerce, on "The Chamber of Commerce Corner" a feature of
The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners
contemplating Business Succession and Exit Planning.
Listen to other content by David Elliott and Reuben Franco -
See the "ADVISOR INDEX" on right from the Home Page
Or listen to our many other top Advisor Guests' 20 MINUTE INTERVIEWS and 1
MINUTE AUDIO TIPS
To get updates on new content and a Weekend Summary
, text "EXIT" to 22828 or CLICK
HERE
We have over 100 Advisors booked and we add
new content daily, so come back often!
Please mention Exit
Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!