Exit Coach Bill Black interviews Top Advisors for Tips, Ideas & Precautions for Business Owners who want to grow and protect their company value and plan for a successful Business Sale or Transfer. Listen daily so you can be well-planned!
Episodes
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!
Please mention Exit Coach Radio to your friends!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
ExitCoachRadio.com - Come Listen for a Minute!
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!
Wednesday Jan 15, 2014
Wednesday Jan 15, 2014
Definition of Exit Planning: Exit Planning is the comprehensive approach to designing an exit strategy from a business.
It encompasses setting exit objectives (When does the business owner want to leave? To whom will he or she sell the business? etc), pulling together a team of trusted, professional advisors (a CPA, an Attorney, a Financial Advisor, etc) to participate in developing planning ideas and writing down each aspect of the transition sequence in the form of a Road Map that explains exactly what steps will be taken, when and why.
From Business Enterprise Institute Founder, John Brown
To hear John's full interview, and 1 minute highlights, check his folder under "index" at www.ExitCoachRadio.com - Come listen for a minute!
Tuesday Dec 31, 2013
Tuesday Dec 31, 2013
Marc Hankin of Hankin Patent Law discusses the importance of working with specialists in this sometimes confusing area of the law. 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!
Friday Dec 27, 2013
Friday Dec 27, 2013
Thursday Dec 26, 2013
Thursday Dec 26, 2013
NOTE: THE VIDEO MAY TAKE A MINUTE TO LOAD - CLICK "PLAY" AND "PAUSE" WHILE YOU READ THIS AND IT WILL PLAY SMOOTHLY
In this brief video, we spell out what we do and why we do it. We are here to help our community of listeners to learn as much as possible from as many people as possible about a variety of topics. When you look at the topic of Exit & Succession Planning, you need to (a) Set Goals about Timing, Treasure and Target, (b) Assess your strengths and weaknesses, (c) create an action plan (d) assemble and coordinate your team and (e) execute the strategies in a prioritized order.
But first it helps to get ideas, strategies, tips, precautions. So we have lined up over 90 Top Advisors in the fields of Law, Accounting, Valuation, Management, Operations, Insurance, and Mergers & Acquisitions to talk to you, here -- every day we will load new, fresh, relevant content.
In 2014 we will add in additional content, such as Webinars, Surveys, Assessment Tools and Checklists -- so you can be well-planned!
So JOIN US for a minute a day -- and tell your friends -- it's more interesting when you learn together!
Happy Holidays, and Happy New Year,
From The Exit Coach Radio Show
Bill Black
Wednesday Dec 25, 2013
Wednesday Dec 25, 2013
CLICK HERE
Wednesday Dec 25, 2013
Wednesday Dec 25, 2013
Here's a quick video for the grandkids (note: takes a few minutes to upload so please be patient - to pass the time, click play and write down 3 things you love about each of your Grandkids!)
Monday Dec 23, 2013
Monday Dec 23, 2013
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 over 100 Advisor Guests booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Sunday Dec 22, 2013
Sunday Dec 22, 2013
In this interview, Audrianne Adams-Lee, Founder and CEO of HR Network, Inc., shares ideas and precautions that can help Employers understand the necessity of creating a caring culture with Employees through proper HR techniques and strategies. 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 over 90 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Saturday Dec 21, 2013
Saturday Dec 21, 2013
Friday Dec 13, 2013
Friday Dec 13, 2013
We’ve been talking about creating a culture of independence.
We are going to wrap up this chapter today as we talk about customer independence.
What percentage of your overall revenue did your largest
customer represent last year?
Rank your customers by the percentage of your overall
revenue each represents. How can you increase sales to your smaller customers
or find new customers so as to lessen your customer concentration without
shrinking your revenue?
Thursday Dec 12, 2013
Thursday Dec 12, 2013
For the last couple of days we’ve been talking about
creating a culture of independence. Today we are going to talk about employee independence.
If you´re too reliant on any one employee, you are at
significant risk if that employee chooses to leave and at a disadvantage when it
comes to negotiating his or her salary.
To avoid this situation, nurture a pool of people you want
to hire. Some executive search firms offer a bench-building service that
proactively recruits a short list of candidates who could fill your key roles so
that you have a "bench" of people to go to in the event of an
employee defection.
Ask yourself and your key management these questions:
How easy would it be to replace your most important sales
& marketing employee?
Rank your employees from easiest to most difficult to
replace. What can you do to become less dependent on those most difficult to
replace?
Tuesday Dec 10, 2013
Tuesday Dec 10, 2013
Today we’re going to continue talking about your business developing independence to increase it’s “Sellability”. Today we are focusing on suppliers.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" />
If your business is dependent
Monday Dec 09, 2013
Monday Dec 09, 2013
A business´s “sellability” requires that the business not be
overly reliant on any one customer, employee or supplier. The name "The
Switzerland Structure" was inspired by Switzerland´s focus on neutrality. Most
businesses we talk need to start making improvements in this area to maximize
the value of their company.
Over The next few days we are going to discuss The
Switzerland Structure and how it applies in 3 areas of your business: your suppliers, your
employees and your customers. We will discuss ideas you can put into play to
increase your independence, thereby increasing the ease of sale and the value
of your business to a buyer in the future.
Check back tomorrow and we will start talking about
evaluating your independence and what you can do to improve in in the area of
your suppliers.
Friday Dec 06, 2013
Friday Dec 06, 2013
As a seasoned veteran in the financial services world, Phil Calhoun of Beta Benefits has worked with Business Owners, and built his own business structure. He had an idea a few years ago to pull together a "dream team" of advisors from every field that a Business Owner would need state of the art advice from. "Ricing to The Next Level" is the result, a 200 page book consisting of 20+ brief chapters from over a dozen advisors. Phil also discusses Medicare and the Affordable Care Act. You can reach Phil at 1-800-500-9799. 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 over 90 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Friday Dec 06, 2013
Friday Dec 06, 2013
In this 20 minute interview with The Exit Coach, Bill Black, 25 year insurance veteran Brian Sullivan of Martin J Wolff & Company, Inc., discusses the recent changing landscape in Employee Benefits and what every business owner should consider. Brian is located in the Los Angeles area and can be reached at (323) 931-1745. 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 over 90 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Friday Dec 06, 2013
Friday Dec 06, 2013
Adam Lomax, COO of Oxygen Funding, helps businesses to accelerate their growth by accelerating their cash flow. If your company is experiencing a "growth ceiling" because your cash flow is holding you back, listen to Adam's 20 minute interview with The Exit Coach Bill Black as he discusses client stories and examples of how companies have been able to grow faster with his help. You can reach Adam at 1-800-790-3419. 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 over 90 Advisors booked and we add new content daily, so come back often!
Please mention Exit Coach Radio to your friends!
Thursday Dec 05, 2013
Thursday Dec 05, 2013
Chris Bond is an Area Director with Murphy Business Financial Corp. in Franklin, Mass. He is a Business Broker with over 14 years experience. Here in his 20 minute live interview with The Exit Coach Bill Black, Chris shares Tips and Precautions for those who want to sell their business successfully. Chris can be reached at (508) 440-5670 or via email at c.bond@murphybusiness.com (20min) 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.
Wednesday Dec 04, 2013
Wednesday Dec 04, 2013
A great tip from Jonathan Boring of Social Spice Media - (look for his other 1 minute audio tips in the INDEX from his past interview):
Social Spice Media wants to remind you that only 14% of the American public believe traditional advertising such as TV commercials, Banner ad’s, newspapers and radio commercials; whereas over 87% of the American public believe recommendations from their friends, neighbors and co-workers!
Stop throwing your marketing dollars down the drain with yet another direct mail campaign or banner ad that is not delivering the ROI you are looking for, and start using Social Media Marketing to help grow your business!
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 Dec 03, 2013
Tuesday Dec 03, 2013
Lease Intelligence – it’s what you need when it’s time to decide whether to remain in your existing building or find new digs that align better with your business operations and future plans; or knowing what is on the table when you negotiate a new lease or renegotiate your existing one. Here are some words to the wise from Aaron Weiner, Senior Vice President, Bailes & Associates, Inc. www.weinerproperty.com:
· Negotiate when you can use your tenant improvement allowance, not just how much you get.
· Keep the Permitted Use language flexible to keep your future options open.
· Building image affects your bottom line big-time, so choose wisely.
· Look closely at building operating hours. This affects your bottom line, too.
· Reset the operating expense base year for lease options and extensions.
· Negotiate the tenant default language even though it may feel self-incriminating.
· A location on a high-traffic street is not always better.
· A good broker can help you present your financial condition – good or not – in the best light to the landlord.
· Be aware of both sides of the productivity coin when considering creative office space.
· Every lease contract leaves room for interpretation, so keep a good broker handy who knows the flex points.
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 Dec 03, 2013
Tuesday Dec 03, 2013
For the last several episodes we have discussed the importance of Growing your Revenues.
Here are some questions to discuss with your Management Team:
- Could we replicate our business in another city or even another culture and have it work just as well?
- What other products or services would our most loyal customers buy from us?
- What would have to change in our company for it to handle 10 times the number of customers?
- Could we reach a new customer group if we opened up a new channel (e.g., telephone sales, e-commerce-enabled website)?
- Could we more profitably serve smaller customers by making use of a self-serve model?
- Could we license our product or service for others to use in return for a royalty?
- If someone handed us a check for $10 million with the only stipulation being we had to use it to grow our company as quickly as possible, what would you invest the money in?
Monday Dec 02, 2013
Monday Dec 02, 2013
Today we are continuing our series on Growing Your Business
Vertical scalability
If your existing infrastructure (staff, machinery, office space) could handle more customers without adding much to your variable costs, then you have the ability to scale vertically. For instance, a 200-room hotel that averages just 75 guests per night has the potential to scale up more than two times before its owners would have to make any significant infrastructure investments.
Cultural scalability
If your idea works in one culture, could it achieve the same success in other cultures? Often times business owners find that other cultures welcome them with open arms, perhaps even in the area that you have your manufacturing plant set up.
Tomorrow we will discuss several questions you can ask your Management Team.
Saturday Nov 30, 2013
Saturday Nov 30, 2013
Starting a business is hard work. Growing a business is even harder. Often the tasks are all-consuming and there is no time to "plan" - just time to "do". So when the time comes to start planning for an eventual transfer of your business interest -- whether by sale, gift or simply a move to "part-time" ownership, the first place to turn is a diagnosis of where you stand in several key areas. This helps you see what areas need work to get the business in "transfer-ready" shape.
We use a tool called a "Sellability Score" to help owners evaluate where they stack up in key areas. A sample of what the "dashboard" looks like is below. The input portion takes less than 15 minutes, and there is no cost. To find out your "Sellability Score", click here.
